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As a kid, you’ve probably heard your parents say that you need to finish your education so you could land a good career someday. These are powerful words that pressure most students in this generation, especially those who have no money to pay for their own tuition fees. There are still a lot of people in the world who experience hardships before they can even graduate. The same situation happened to Chad Felderhoff, the current CEO of Muenster Milling Company. Before he achieved this position, he was struggling to pay off his college debts so he could get the degree he was dreaming of.
Chad was able to graduate with a Bachelor’s Degree of Science in Agribusiness and a Master’s Degree of Science in Agriculture and Applied Economics from Texas Tech. But before achieving all of these degrees, he faced many challenges in order to pay off his college debts. Paying for college was probably the hardest setback for him during that time because he wanted to prove that he could be independent for his family. During his college years, their family business was not that successful. His parents were running it because of their passion and it provided just enough income and trips for them. Being a college student, Chad wanted to prove that he could do it all for himself and help his parents at the same time.
The setback he had to overcome was not the end, but rather a beginning. After college, he started venturing into the real corporate world. He worked as an employee but he, later on, lost his job and stayed together with his wife in South Dakota. This was another challenge he had to face. While trying to find his own way to success, Chad decided to go back to his family to help in managing their business brand. He realized that after all the achievements he achieved, nothing was worth his effort and time. This was the stage when he began thinking of himself as a part of their family business.
Chad did not start as the CEO of the company. Like other people, he was in a low position even in his own family business. But because of his bright ideas, hard work, and business mindset he was able to talk to his parents about improving the business in many different ways. Through hard work and together with his brother, he was able to negotiate a term with his father so he could buy the business. Although there were other bidders at that time, his father still chose to side with him. He successfully got the business and started applying his own concept and perspective to improve the efficiency and productivity of the company.
He talked to the bank in order to reinvest, invent new products, acquire new warehouses, and even integrate an EOS system for better business modeling. From being a broke college student to now being in charge of the company, his success inspires people from different parts of the world. If struggles did not challenge him, there would not be another Felderhoff continuing the family pet food manufacturing company in Texas.