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Fires, Industrial and Construction Pumps, and Small Business Success
JACKSONVILLE, FL. – Teresa Myers, CEO of Myers-Seth Pump (MSP) has become highly successful in the male dominated world of industrial and construction pump manufacturing. Ms. Myers emigrated from Vietnam many years ago, and credits her current success to her entrepreneurial spirit.
Husband and wife team, Douglas and Teresa Myers jointly own and operate MSP. Mr. Myers started the company in 1991, and Ms. Myers joined the Company in 1997 as CEO. MSP both manufactures and is involved with the distribution of pumps and dewatering equipment throughout the United States and abroad. MSP increased its revenue by almost 20% when it started exporting pumps overseas. Prior to her experience at MSP, Ms. Myers worked as a Chief Financial Officer for another manufacturing based firm in Jacksonville, FL. Ms. Myers also owned a clothing design firm in Philadelphia, PA prior to her career in Jacksonville.
Ms. Myers is an “Encore Entrepreneur”, meaning she became involved with the business after she was 50 years old. The SBA offers training and support to encore entrepreneurs looking to start or grow their businesses. For more information about SBA’s encore entrepreneurship programs, visit http://www.sba.gov/content/50-entrepreneurs.
Ms. Myers credits much of her overall success to being a lifelong student of internal development. She attributes her current success with hard-work, customer focus, and also to the training she received as part of the e200 (now Emerging Leaders) program from the SBA.
The Emerging Leaders program is an intense series of courses provided by the SBA to help executives further develop their company through the execution of a strategic plan. Small business owners must apply to be part of the competitive program, and must also meet strict requirements to qualify. The Emerging Leaders program is available in select cities throughout the United States. For more information about the Emerging Leaders program, such as qualification requirements, visit www.sba.gov/emergingleaders.
Ms. Myers stated that “participating in the Emerging Leaders program gave me the most in-depth knowledge on how to effectively run a small business. I learned about structuring the business, profitability, planning, creating exit strategies, and scaling my business.”
Although the company is currently experiencing a great deal of growth, MSP has faced it share of challenges. As a manufacturer of industrial and construction pumps for mining and construction industries, MSP was also impacted by the economic crisis of 2009. Ms. Myers navigated through the recession by adding a pump rental division, providing training opportunities for her employees, and expanding the company’s outreach to other industries, such as the oil and gas industry, and International markets.
Another challenge MSP faced was a set of fires that occurred both in the manufacturing building and to a company-owned truck in 2012. The fires occurred during MSP’s busiest production season. Ms. Myers’ leadership combined with the support of her devoted team of employees, allowed MSP to continue with very little interruption with their manufacturing business. In fact, most of MSP’s customers were not even aware that they had a major fire onsite at their facility.
Ms. Myers also participated in other SBA resource partner training and development programs through the Jacksonville Women’s Business Center (JWBC) and the Small Business Development Center (SBDC) at the University of North Florida. For more information about programs and services available through these resource partners, visit the JWBC website at www.jaxwbc.com or the SBDC at UNF’s website at www.sbdc.unf.edu.
For more information on MSP, please visit www.myersseth.com.
For more information on SBA’s Programs and Services, please visit www.sba.gov.