How To Build A Business From A Depression Era Entrepreneur: 5 Lessons From Dad

This is a tough post to write as my dad, Cosmos Marentis, past away last night in his sleep after a week of hospital and hospice care. He was an incredible man, successful entrepreneur and business mentor. He grew up in Harlem NYC during the depression, raised by Greek immigrant parents.

Dad used to scrape the ice off the streets, after ice delivery trucks left, so he can bring it home to the icebox our family had in the tenement building. They could not afford to buy ice themselves. He had to be an enterprising person from the beginning.

My family benefited greatly from dads wisdom. Most of us are all successful entrepreneurs, millionaires many times over because of his mentoring and example. As we sat in the hospice waiting for the inevitable ending of this outstandingly lived life, I thought a lot about where my dad started in life and how he ended up building one of the largest and most successful mechanical contracting companies in the NYC region.

Here are some key lessons I learned that I want to share with you:

1. Just start doing something! My dad got out of the army after WWII and opened up shop in Manhattan servicing Greek Diners and funeral parlors.  He started working with the “new technology” called refrigeration and air conditioning. He did not always know exactly what he was doing, but knew he could figure it out as he worked with it. No VC’s, no 100 page business plan, 100% make it happen.

2. Be open and available for new opportunities. My dad got a call one day from someone in real estate at the Bank Of New York. They needed a company to service their new air conditioning system 24/7, 365 for a new kind of room…for computers.  My dad did not even know what a computer was or why they needed a room, but he said yes because he knew that if it was that important to them, they would pay good money (and so would others) for that service.

3. Make your employees and clients feel special. It’s amazing how your business will grow and new opportunities get created when you have motivated people working with you and clients that know how much you appreciate them.

4. Persistence and determination will separate your business from your competition. At the end of the day, most markets that have solid opportunities will also have very good competitors. You will also face unforeseen obstacles and events, it’s inevitable. Seth Godin calls this “The Dip”. My dad had to battle rheumatic fever, the unexpected death of a partner and many other events that could have been great excuses to give up. Dad didn’t and his competitors did…he ate their lunch!

5. Technology is your friend! Many entrepreneurs don’t want to take the time to integrate new technology and process into their business. It’s hard.  It takes time and a learning curve. From new computer room technology to operational infrastructure, my dads company used everything they could to stay ahead of the competition. You can too!

I think about my own business today, GenNext Media, and what we preach with new technology and social media marketing. These touchstones or lessons have never rang truer than today.  We are hopefully coming out of the “great recession” and business marketing is changing dramatically…we call it disruption.  Fact is, just like in the past, winners and losers will emerge in this “new normal”.  These lessons from my dad are a beacon to a successful outcome for any business.

Thanks Dad! We love you and will miss you…