054: Lessons Learned from Growing a Door Company over 20 years (with Michael Otis of Double O)

Background on Mike Otis of Double O:

Michael Otis is the President of Double O Inc., a commercial Glazing, Windows, & Doors company. Double O Inc. has steadily grown in skills, talent and experience to become known and recognized as “The Most Knowledgeable Company in the Industry.” In 2014 thru 2016, Double O receives recognition from Inc. Magazine being awarded the prestigious “Inc. 5000 Award – Fastest Growing Private companies in the United States.”

Mr. Otis is also the president of One Enterprise, LLC, which rehabilitates distressed properties in blighted neighborhoods, returning them to productive use. One Enterprise focuses on revitalizing neighborhoods, recycling community resources, and respecting the residents.

Time-Stamped Show Notes:

[1:09] Michael owns 4 companies but his primary company is Double O, Inc, supplier and installer of Windows, Doors, Storefront and Curtain Wall solutions for commercial and residential.
[2:28] Michael’s first contracting job was when he was 13 years old.
[3:22] When his Dad passed way, Michael continued his Dad’s small glazing shop for more than a decade.
[7:58] Michael was going through divorce and wanted to focus on his children so he decided to sell the business.
[8:30] Selling the company was one of Michael’s biggest regrets.
[9:51] “I have all the right advice, I just didn’t listen.”
[14:52] After all the fiasco that happened after selling his company, Michael became a regular employee.
[16:00] Michael’s second wife has 4 children and he has 4 kids so for them to be able to provide for a huge family they decided to start a company.
[16:56] Michael’s step kids last name is O’Brien and his kid’s last name is Otis so they named the company Double O.
[17:41] The company has now 35 employees with a revenue of more than $6 million this year.
[18:19] “I’m definitely a firm believer of bootstrapping. It think it’s critical. What I mean by that is literally starting from nothing and building it up to something.”
[22:49] When Mike started Double O, he did everything so when the company started growing, he hired the right people to help him.
[26:14] The company had been in INC 5000 for 3 consecutive years.
[31:08] Mike's friend, who was a President of a multi-billion dollar company, helped him with his organizational structures and advised him to expand the company outside his home.
[36:34] “Don’t focus on that paycheck, focus on working your butts off for a very long time…”

Fabulous 4 Questions:

📖 📚 Favorite Book(s)? The Bible, if I must pick just one. The Great Game of Business by Jack Stack is another. Leadership is an Art by Max DePree as well.
🙌😎 Favorite Amazon.com purchase? I purchase everything online, vehicles, tools, real estate, everything. So it is hard to know. Most recent, a bunch of hiking equipment for a wilderness trip in September.
🌱💸 Favorite Tool that's GROWN your Business? Quicken, cause I like to keep things simple. But we have many programs we use in our company. The Office 365 Suite is very important to us.
💭💡 BIGGEST Challenge keeping your Business from GROWING? We will grow revenue this year about 35% this year so I think growth is moving along fairly well. Our hindrance the past couple of years was weak systems and process however using the EOS practices we have broken out of that level at last.