Considered a powerhouse in American business, Diane Hendricks is the driving force behind ABC Supply and the richest person in Wisconsin. The billionaire businesswoman and conservative political donor believes that one should talk to successful entrepreneurs to avoid pitfalls during their entrepreneurial journey. Her business philosophy is built on personal grit, learning by doing, and finding an effective method to navigate extreme adversity.
"Talk to successful entrepreneurs. Learn about what they've experienced so you can avoid some of the pitfalls that come with wealth," this often-repeated quote by Diane Hendricks sums up her approach to entrepreneurship.
What does this quote mean?
These lines imply that the main challenge for someone wanting to become a successful entrepreneur is the ability to tolerate ambiguity and the readiness to learn. As entrepreneurship often involves navigating uncertainties and unpredictable situations, one should not hesitate to reach out to seasoned entrepreneurs for guidance.
Emphasising the importance of abundant information available to the knowledgeable, Diane Hendricks points out that one can easily overcome challenges by following the examples of those who have built businesses and wealth. According to the self-made billionaire, newly wealthy individuals should talk to people who have already been in the same situation to avoid the pitfalls of sudden wealth.
Daughter of dairy farmer, Hendricks once worked as Playboy Bunny to support her child
One of the most powerful business leaders, Hendricks is the daughter of a dairy farmer and the widow of the late businessman Ken Hendricks. She was born in Mondovi, Wisconsin and raised in Osseo.
With 9th position in the Forbes 250 greatest self-made Americans list, Diane Hendricks boasts a real time net worth of $22.3 billion. Helmed by Diane Hendricks, ABC Supply is one of the largest wholesale distributors of roofing, siding and windows in the US. Hendricks, who has served as the chairperson of the company since her husband's death, cofounded the business with Ken in 1982 in Beloit, Wisconsin.
Before embarking on this business venture, Hendricks sold custom homes for a builder while Ken worked as a roofer. At the age of 17, she became a mother and had to drop out of school. She worked as a Playboy Bunny to support her child and later graduated from Osseo-Fairchild High School in 1965.
Currently ranked as the 119th richest person in the world, she clinched major deals for her company. In 2010, ABC bought its rival Bradco. This acquisition was followed by the purchase of building materials distributor L&W Supply in 2016.
