Learning from failure Featured

2:01pm EDT July 1, 2011

[caption id="attachment_32529" align="alignleft" width="200" caption="Bob Castro, founder and president, Bankers Healthcare Group Inc."]

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Bob Castro was only a sophomore in high school, but he already had a pretty good sense of the path his life was going to follow. He was going to make his mark on the world by becoming an entrepreneur.

His first step toward meeting that goal was a bit unconventional. Castro dropped out of high school and asked his parents to take out a second mortgage on their home so that he could start a janitorial business. Unfortunately, the risk didn’t pay off and the business failed to catch on. After trying and failing with three more businesses, things weren’t looking good for this young businessman.

But rather than look back with regret at his decision to quit high school or at the failure of these businesses, Castro took the lessons he had learned to heart and used them to bolster his entrepreneurial skills for the next opportunity that presented itself.

In 2001, that opportunity was a business that would become Bankers Healthcare Group Inc. Castro, and his brother, Eric, met Albert Crawford at a networking event and out of that meeting, each decided to invest their limited capital in a new health care financing company.

There were more challenges to overcome, of course, but Castro had been a diligent learner. He saw the importance of putting your customers on a pedestal and finding employees who believe in the same values and work ethic that you do as a leader.

He rewarded his people for hard work and did what he could to foster a culture that was filled with positive energy and a collaborative spirit. He felt this type of environment would result in employees who were filled with self-motivation, self-assurance and a focus on doing the job the right way.

How to reach: Bankers Healthcare Group Inc., (866) 297-4664 or www.bhg-inc.com