Rich Beynon has put in his share of hard work to earn the title of President at the 100 year-old family owned business, Beynon & Co.
Beynon & Co. opened its doors in 1912 and is still going strong today. It is one of the largest privately owned commercial real estate and insurance companies in Pittsburgh.
Beynon admits he was fortunate to be able to jump right into the family business right after college; however he never wanted to wear that label of the “boss’ son.” Beynon worked hard to get where he is today—he did just the opposite of the things that people expected of the boss’ son. He came in early and stayed late, he helped co-workers, and tried to learn all he could.
Looking back, Beynon has no regrets but does say that he wishes he would’ve worked somewhere else before starting at the family business. He would’ve taken a different job just to get some experience before starting with Beynon & Co.
Beynon remembers the turning point or rather the moment when things about the business really sunk in. He had his first big deal that was closing—he flew to New York, got
the deal closed, collected the big check, flew back home and was so proud when he handed his father that first check. His father looked at him and said, “That’s great, what’s next?” He learned from that moment that you must keep on going, you always have to have something else working to meet goals.
Beynon would set goals for himself both personally and for business and put them in writing. He holds the same for his employees; they are asked to write down their goals and are reviewed with Beynon quarterly. Beynon explains that you can’t just write goals down; you have to figure out what you want and how you are going to get there. He feels this is one of the steps to success.
Beynon describes what success means to him, “If your goals and your desires and your ambitions are met, then you are successful. If you are happy at what you do and you can go to bed at night with a good conscience, you are successful.”
Some of the habits that Beynon feels one must possess to be successful are creativity, figuring out what people want, and the tenacity not to quit. He states, “The deal is not over
until you give up.”
Some challenges that Beynon must face in running the company is dealing with family in business. Separating personal family issues from business can sometimes be a struggle. He tells a story of a time that he was at home with his father, his father was reading the newspaper and Beynon began asking work questions. His father looked over his newspaper and said, “Ask these questions at work, these are work questions.”
“If your goals and your desires and your ambitions are met, then you are successful. If you are happy at what you do and you can go to bed at night with a good conscience,
you are successful.”
The best professional advice has also come from Beynon’s father. He told him to take more risks, take risks early and that you should buy a bigger house than you can afford you will always work your way into it and work harder for it.
After years of selling, running a company, and dealing with people, Beynon feels that one of the challenges that the younger generation faces today is that they rely on social media and email to communicate. He worries they lack the experience of face-to-face interaction with people and lack the skills it takes to negotiate and sell.
Some key lessons that Beynon can pass along are: Be honest, have integrity, don’t be afraid to turn down business when it’s not right, and most of all you have to like what you do.
For the future of the business, Beynon hopes to continue the growth of the company, see continued success, continue building on the business and advancing. Personally, Beynon hopes to be in good health and be happy.
© 2013 Brian D. Baum