Jeanette Prenger
Interviewed By: Sheridan Sechter
Jeanette Prenger is no stranger to hard work. Since founding the staffing firm ECCO Select out of her home in 1995, she has survived the severe economic downturn the technology sector experienced after 9-11. Refusing to declare bankruptcy like so many of her similarly-sized competitors, she instead shifted her company’s strategy and client project focus in order to fulfill all of her financial commitments and rebuild her company. Since 2002, her business’ revenues have grown in $2 million increments every year. And, this year ECCO is on course to post earnings of $10 million. Not bad for someone who didn’t take a paycheck for a full year and instead was forced to live on her savings while working harder than ever to develop her business. She says that it’s a matter of focus, an excellent team of employees and the unfailing moral support she receives from her husband, Kevin. ECCO Select was named in 2003 as Top 25 under 25 small business and in 2002 by the Minority Economic Development Council as Service Firm of the Year. Since 2000, ECCO Select has been named each year as one of Deloitte and Touche’s Technology Fast 50 Information Technology companies. Jeanette is an appointed representative of the SBA National Regulatory Advisory Board, and also serves on the City of Kansas City Fairness in Contracts committee. She is the current chair of the Greater Kansas City Hispanic Chamber of Commerce and was elected to the board of the United States Hispanic Chamber of Commerce in 2004. In 2003 she was awarded the Carlos F. Cortes Humanitarian Award by the Greater Kansas City Hispanic Chamber of Commerce. She is also an appointed Commissioner to the Missouri Governor’s Commission for Hispanic Affairs and to the Sue Shears Foundation for Women in Public Policy. A native of Portugal, Jeanette is the mother of two grown sons and has been married for twenty-six years. What was the impetus for starting your company, ECCO Select? I was working in the technology field at Sprint. One of my colleagues was a man I had gone to college with and while we were working on a very challenging project which required contractors, he asked if I was familiar with this type of business model. We looked at it and discussed going into business together, but the timing was not great for him so I pursued it on my own. I took the FAST TRAC business class at the Kauffman Foundation and created a business plan. I thought What is the worst thing that can happen? The worst case was that I’d fail and go back to what I was doing at the time which was fine. I was my only employee when the company was founded, but within a year I had twelve people. TWA and Sprint were my first clients. In 1998, I bought out a direct-hire company that allowed me to diversify my client base. Prior to this acquisition I had been focused on 1099 contractors and so acquiring this other company allowed me to instantly have more of an infrastructure including payroll systems. This has worked out very well; I have some great clients from that company. How has your company’s revenue grown? During the first year, our revenues were just under $200,000. Before September 11, 2001 our annual revenues were at $5 million. After 9-11, revenues dropped to $1.2 million and we have come back in $2 million increments each year since then. This year, we are on track to post gross revenues of over $10 million. This is a result of employing really good people, and really hard work. We’re very focused on what we want to do. Did you require outside financing to start your business? I was self-funding until I bought the other company, and to do that I secured a traditional bank loan. What has been your biggest challenge? My biggest challenge was overcoming the economic downturn of 9-11. Our industry plummeted and I was overstaffed for the amount of business we could drum up. I had to release good employees because the business wasn’t there to justify our headcount. It’s much easier to release employees who aren’t productive because of their work ethic, but it’s very tough to release people who want to work, but the business isn’t there. That, coupled with the lack of work in our area, really challenged how we would sustain the business. We had to be very flexible on how we could support our clients. What’s the most surprising thing you’ve learned from being a business owner? I am a lot stronger than I had ever thought. I’ve had some challenges especially during 9-11 where a lot of my competitors who owned similarly-sized businesses closed their doors. I am very determined that I will not be unsuccessful. What were some of your strategies for surviving the post 9-11 economic downturn? I’ve always been focused on having a diverse client base and that really helped. And, the flexibility and wide array of services and resources that our company offers was also a major factor. After 9-11, the technology sector plunged but we were able to provide our clients other types of services which kept us afloat. The relationships with our clients carried us through the worst times. What is a typical day like for you at Ecco Select? When I’m in town, I usually have several meetings set up with clients and staff in regards to sales. Almost every day I do something with one of my clients. I usually have at least a few daily tasks related to my board commitments. I also try to teach a few aerobic classes and get my workouts in! As a business owner, what do you feel is the highest and best use of your time? I think that it is reviewing what we’ve done as an organization whether it’s financially or it’s our support staff and looking at how we can improve. I’m constantly looking at how we can improve. I look at weekly and monthly reports and really take time for annual reviews. I always want to make sure that we are doing the best that we can. Do you have a mentor? I have an unofficial mentor. He’s someone I’ve looked up to and respected since I was in my twenties. His name is Anthony Simone. He’s the owner of Necco Coffee and he’s a very successful businessman in Kansas City. He has always been there to listen when I want to pick up the phone and want his advice. If you had to name three reasons for your success, what would they be? The first one would be my husband, Kevin, because he has always been supportive of anything I wanted to do. The second would be that I have great employees. I know that I can be away from the office and they will take care of things. The third is that I’m very focused. Women are starting businesses at twice the rate of men. Why do you think that’s the case? I think that part of it is that women feel more empowered to be successful without a corporate structure. For myself, I knew what my ceiling was in the corporate environment and it wasn’t very far above where I already was. If you really want to do something above and beyond what the corporate environment will allow you, starting your own company is one way to do that. What advice do you have for women who are considering starting a business? Really give it a lot of thought especially in terms of what your best case and worst case scenarios are. If it’s going to be a huge risk, then just understand what the consequences are. What advice do you have for business owners who are beyond the start-up phase and ready to grow their businesses? Find really good people whose talents and skills lie in areas that you’re weak in so that your team is well-rounded. What do you think is important to share with others? Don’t think that those successful in business are in their position because of luck or being born into affluent circumstances. It’s not like I am a lucky person, but I’m where I’m at because I work really hard. It’s really important to me for people to see that they can do what it is that they really want to do even if they think it is out of their reach. I want to encourage other women to believe that they can do whatever they set their minds to do. I have made a lot of poor choices in my life, personally and professionally. No one is perfect, but if we learn from those mistakes and truly try to do our personal best, you can grow from those experiences. I always try to treat people the way that I want to be treated. Will you share something that makes you proud?I won the Humanitarian Award from the Hispanic Chamber in 2003. When I did, I burst into tears because after 9-11 I didn’t take a paycheck for over a year and it was very difficult. We were living on our savings, but I kept my commitments. It’s easy to be charitable when you have a lot of money, but I’m proud that I’ve given back even when it was difficult to do. An Overview of ECCO Select | President: Jeanette Prenger Address: 3101 Broadway, Suite 460; Kansas City, MO 64111 Telephone Number: 816.960.3800 Website: www.eccoselect.com Year Founded: 1995 Number of Employees: Started with one, and now employs just under 100 Services Offered: Contract, Contract-to-Hire and Project Management specializing in technology but also providing other professional services including HR, administrative, marketing and accounting. Market Area Served: Kansas City; the East Coast Annual Revenues: Projecting $10 million in 2006 |
Article Source: http://www.flourishmagazine.com
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