That's the definition of committed, a word business owner Stephen Iser used to describe himself.

In every sense of the word, he is just that.

The heir to a multi-generational Bendigo hardware business that had all the nuts and bolts to be successful, Mr Iser has still dealt with pockets of adversity since becoming managing director of Mitre 10 Hume & Iser in 1994.

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"I wanted to be somewhere else plenty of times," Mr Iser said.

"In 1989, the store underwent a major renovation that we'd been putting off for so long, which happened to be on the eve of the Great Recession.

"Business sales dropped 50 per cent, interest rates went up to 20 per cent and we borrowed quite a few million to do the renovation.

"We were in trouble."

In 1990, GDP fell by 1.7 per cent, employment dipped 3.4 per cent and the unemployment rate was in double figures.

The figures were worse in Victoria, where employment decreased 8.5 per cent.

"It was the recession that Australia had to have," Treasurer Paul Keating said.

It wasn't the recession Hume & Iser wanted, or needed.

"It was very difficult trading out of that, but we survived," Mr Iser said.

Thirty years on, Mr Iser's business reached another flashpoint when the coronavirus pandemic triggered a statewide lockdown.

"There was enormous pressure because it all happened so fast, at basically a week's notice," he said.

"I remember I was booked to go to the Grand Prix and it was the trigger event."

Instead of watching Mercedes, Honda and Ferrari take to Albert Park and burn rubber, Mr Iser shifted gears, to concern for his staff, family and business.

"The pressure was enormous," he said.

"What do we do if they shut us down and how can we afford to pay everybody?

"You could probably afford to pay staff for two or three weeks, but the cash would run out if we weren't able to trade."

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Staff were nervous and concerned because they knew their income stream could be turned off at short notice.

Fortunately, the opposite happened.

With hardware stores deemed to offer essential services, they have been open throughout the pandemic, albeit with social distancing and safety measures in place.

Lockdown proved to be the perfect time to finish odd jobs, maintain the garden and start new projects.

"Our business exploded," Mr Iser said.

"It seems people are putting money into their homes because they can't travel overseas and interstate or attend events.

"I know a lot of people that own pubs and coffee shops and they've been devastated.

"We have been lucky since March, because everyone is painting, doing their gardens and repairing the house and that's ongoing."

Business has been all that Mr Iser's known, something he describes as a blessing.

His grandfather, Henry Iser, and business partner Wilhelm Humme purchased a hardware store in the 1880s.

Initially drawn to Bendigo from Hamburg, Germany in pursuit of gold, the pair instead supplied timber to Bendigo's booming goldfields.

"My father and uncles told me they had enormous problems getting supplies through the World War," Mr Iser said.

"The business went through two World War's, the Great Depression, the Global Financial Crisis and other economic depressions and recessions we've had."

As a young boy, Mr Iser would accompany his father in the timber yards at six or eight o'clock at night when he'd open the gates for the returning truck drivers.

"I've been coming here ever since I could remember and thought that's where I have to work."

The monopoly Hume & Iser enjoyed for more than half of their existence has slowly eroded during the past 40 years, as customer needs have changed.

"My father basically worked exclusively in the timber yard and was in charge of enormous amount of product sent to Boort, Charlton, Kerang and Swan Hill," Mr Iser said.

"There were no stores up there even in the seventies, but that has all changed of course.

"When he left the business, the country side of it dropped off because other stores opened in those areas."

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Working out of once run down premises, Hume & Iser underwent its first major extension in 1956.

"We had locks and latches, some stoves, baths and basins," Mr Iser said.

"We weren't affiliated with any buying group and even in those days, people were looking for more product.

"When you built a house, it was either brown brick, red brick or cream brick."

Limited selection is a thing of the past, as today, hundreds of products adorn the shelves of the hardware store.

"There are hundreds of different types of locks and latches, colours and selections," Mr Iser said.

"All these new products come and go and you have to try and stock them.

"As products have changed, so too have the style of homes and architectural influences."

Never pressured to take over the family business, Mr Iser is proud of his family's heirloom.

"I've got two children and they have their own careers," Mr Iser said.

"There is no succession plan, but my nephews, nieces and board of directors are Iser's, so who knows?

"Nobody has put their hand up yet and hopefully someone will, so they can continue the legacy for years to come.

Aged 66, Mr Iser hasn't got any plans to hang up the keys to the store yet, with a passion for fitness keeping him energised, both physically and mentally.

"I've been active my entire life and when I've been managing the store, there's good days and there's bad days," he said.

"Whether it be running, riding my bike or swimming, it helps deal with the stress of running a business."

The good days, when staff, suppliers and customers are content and singing from the same song sheet are more plentiful than the occasional bad day, Mr Iser said.

"Issues with customers and staff, they drag you down a bit.

"We are all human.

The pressure of managing about 40 staff, who each have families of their own to support, is not lost on Mr Iser.

"We have a very, very good team and that's one of my primary jobs, to keep everyone level headed," he said.

Despite Hume's influence on the business fading 121 years ago, when he passed away in 1899, the name has remained part of the business to this day.

"When the business started, the name was very strong and we have kept it ever since," Mr Iser said.

"It's been discussed, but I don't think we'd ever change it.