THE STORY BEHIND ABDO, EICK & MEYERS – CHAPTER 5: THE START OF SOMETHING GREAT
October 17, 2013
In 1965, Joe received a job offer from Mack Magrath, the owner of Minnesota Automotive. But instead of taking the offer (and a stable salary for his growing family), he continued to pursue his dream of opening his own accounting practice.
The year 1965 found Joe ready to open his own accounting practice, but without the capital needed to do so. That’s when his mother, Fadwa Abdo, stepped in. After 25 years of tending to her vegetable garden and the family’s dry goods store, she had saved $15,000. She believed in Joe’s work ethic, his drive to provide for his young family, and his desire to do something great. She graciously offered up her entire savings to Joe.
The $15,000 from Fadwa became the seed money for the 1965 establishment of the JM Abdo & Company. Joe was the firm’s sole employee.
Thankfully, Joe knew how to sell from years spent hauling the vegetable wagon through the streets as a young boy. He applied those skills in the Mankato business community and slowly began to add clients. Operating with integrity and a commitment to quality service, Joe’s practice continued to grow.
To be continued in Chapter 6…