Bowyer was installed as permanent boss almost two years ago after keeping the Lancashire club in the Championship in a season which saw Steve Kean, Henning Berg and Michael Appleton all vacate the hot seat.
Owners the Venky's were public enemy number one at Blackburn, but the air of hostility has cleared and the club will face Aston Villa in an FA Cup semi-final at Wembley if they beat Liverpool at home on Wednesday.
Bowyer has relished the opportunity to prove his managerial credentials and thinks the club are ready to kick on following a miserable few years.
He told Perform: "History was probably not on my side [after getting the job], but I think the owners have been very supportive of me. I was fortunate to be offered the position, I sat down and put plans in place to rebuild the club, because that's what needed to be done.
"I think the owners realised that mistakes have been made and they are the first to admit that, but we sat down and put a plan in place and recruited young, hungry players who have proved to be a valuable asset to the club.
"You look at the investment they have made, the value of those players has gone through the ceiling. We have laid the foundations and can build even further now, this cup run has helped us along the way and raised their profiles even further."
He added: "I think the supporters realise the financial investment that the owners have put in keeps the club going, because being out of the Premiership proved very costly to this club and especially the owners.
"Their financial contribution is massive and long may that continue. Hopefully with this cup run that we've had they'll get something back, they deserve some credit that sometimes people are not so keen to give them."
Bowyer's father, Ian, knows what it takes to succeed in the game after winning the European Cup twice, among other honours, at Nottingham Forest in his playing days.
Bowyer senior works as a scout at Blackburn and the 63-year-old feels his son should also credit his mother for the impact he is making at Ewood Park.
He told Perform: "He's done really well, I think they needed to settle things down, take stock of what they had and what they needed.
"They have done that and now they need to be moving on, football doesn't wait for anyone. You can't have a period of stability that lasts for five years, you need to be moving on.
"He's done great, I'm really proud of how he's done for the club. He's got his mother's mannerisms and character, so he'll be alright."
