six min study
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In this series named Member Showcase, we publish interviews with members of The Oracles. This interview is with Mike Feazel, co-founder and CEO of Roof Maxx, which makes use of plant-primarily based technologies to restore asphalt roofs. It was condensed by The Oracles.
Who are you?
Mike Feazel: I grew up in a smaller farming neighborhood just north of Columbus, Ohio. I moved away for a even though, but now I’m back, and I’m the third generation in my family members right here. I’m addicted to travel, adventure, and exploring new cultures.
We have a patent pending for our plant-primarily based roofing formula, which is environmentally protected and prevents asphalt shingles from drying out, adding to their lifespan. I have never ever carried out something as disruptive as what my corporation is undertaking appropriate now. There have been highs and lows, but I enjoy the challenges and rewards of expanding a enterprise.
Roof upkeep and rejuvenation is a substantial industry that will be worth $11 billion when it is totally mature. The require to defend and restore asphalt roofs is recurring — there’s no “one and done” — so the enterprise chance is right here to keep.
What are you far more skilled at than most men and women in the globe?
Mike Feazel: My most significant talent is identifying talented men and women who match our culture and then letting them do what they do ideal. I’ve discovered not to micromanage. Failure is just as crucial as good results. As lengthy as the group is finding out, expanding, and correcting swiftly, it is okay. There is not a rulebook when you are disrupting an business.
What are the core values that guide your enterprise, and why did you choose them?
Mike Feazel: I do not see enterprise and individual values as separate. They are a single and the very same. In enterprise and in life, treat men and women relatively and with respect, attempt your hardest to do the appropriate issue, and keep optimistic, particularly when points are not going your way. That is the most hard of all.
What’s your favored quote?
Mike Feazel: I have a fantastic deal of respect for Richard Branson and how he lives his life and runs his organizations. 1 of my favored quotes from him is this: “Respect is how you treat every person, not just these you want to impress.”
What was your most significant challenge beginning in enterprise? How did you overcome it?
Mike Feazel: Our most significant challenge has been skepticism that you can rejuvenate an asphalt roof. There’s usually skepticism about new concepts, but doubts fade as familiarity with the notion grows. When that takes place, we count on to double or even triple in size. Early on, Elon Musk gave Tesla a 10 percent chance for good results, but electric automobiles are right here to keep. That is our story as well.
The skepticism is nonetheless there but it is steadily decreasing. Awareness about bio-primarily based technologies is expanding, along with demand for items that effect the atmosphere in a optimistic way at a reduce value. Our partners are worldwide leaders in biotech and sustainable technologies, so their credibility has helped us overcome this challenge. Battelle Labs, the biggest private investigation and improvement corporation in the globe, developed our soy-primarily based formulation. We also companion with America’s farmers, Ohio State University, and the Ohio Soybean Council.
Our partners have helped us develop from a handful of dealers and staff to far more than 400 areas and a substantial employees that is expanding weekly. I think we’re nonetheless at the bottom of the hockey stick in terms of our prospective development. At our present pace, we’ll surpass the biggest roofing corporation in the nation by topline income in 2021.
How do you define fantastic leadership?
Mike Feazel: Wonderful leadership is not about manage it is about empowering men and women. I hardly ever insist points are carried out my way. Alternatively, I employ talented men and women and get out of their way. There’s not a single particular person in our corporation who is not astounding at what they do.
My function is to provide the vision, particularly in the early stages, when points can modify by the hour. Every single day, there is much less ebbing and flowing than in the starting. Then I just have to communicate the vision to the group, get their purchase-in, and if necessary, debate it and adjust. It is a group work.
How do you determine a superior enterprise companion?
Mike Feazel: A fantastic companion is an individual you can trust and respect who has your back. For me, that is my brother, who is also my co-founder. He’s been my companion for 30 years, and I wouldn’t have it any other way.
We’ve practically closed the enterprise twice. To pull by means of, we had to discover tough lessons that gave us the expertise to succeed: stick-to-it-iveness and patience. There’s no way we could pull this off otherwise.
How do you stop burnout?
Mike Feazel: I keep active by mountain biking and paddleboarding. I also enjoy to study and investigation new technologies that are shaping the globe.
I get inspired by the astounding enterprise models of businesses like Uber and Airbnb. With Airbnb, you get improved service and a improved expertise for much less function, hassle, and dollars. Why would you keep anyplace else? That is how I see Roof Maxx. We are “Uberizing” roofing in a grand way, and we’re only at the starting of what technologies can do.
What would you like to be undertaking in 3 years?
Mike Feazel: In the subsequent 3 years, I’d like to invest in a smaller solar energy corporation. Moore’s Law states that laptop or computer processing speed doubles just about every two years even though the price is halved. That principle applies to all technologies, particularly solar.
Environmental sustainability and solar energy are so crucial. If you are burning organic sources, you are ruining rainforests and placing plastic into the ocean. The use of solar energy is anticipated to double in the subsequent 5 years. Quickly, you will not be in a position to make a dwelling in California that is not powered this way. I think the new “land grab” will be the rooftop, and I see a vibrant future.
Connect with Mike on LinkedIn or take a look at his web site.