Lori Olund 8:36

Well, it took a little bit of a dip for about two months, I think people were just trying to figure out, you know, what was going on with COVID. And then they realize you can’t really fly anywhere. So I think people just started going out and buying RVs and trailers and just traveling on their own. And that market just really took a uptick for us, and it’s still growing quite rapidly.

Carl J. Cox 9:00

Yeah, these are, it’s interesting, these type of trends, you know, that could be something that a little bit sustainable, right and it when haven’t started changing and and I envision there’ll be people for a long period of time that might feel uncomfortable, right, flying in airplanes or things of that nature. And this becomes a great alternative. And it’s good timing, right, that you’re serving this on a regular basis, but a lot different. As you mentioned the 2008 were just people shut off the spigot and they weren’t spending it all right.

Lori Olund 9:32

Yeah, in fact, I talked to a gentleman and he bought his first trailer and only had it for about three months and then went back and traded it in for a bigger one, because he was just so happy, you know, traveling around so I think it might be here to stay.

Carl J. Cox 9:48

Wow, that is very interesting. So I’m curious about you know, here you have all your different family members, right. That Seven and 700 employees, which is amazing. So tell me a little bit about when you were starting out and you’re growing up and you’re in your dad hash this company, and you’re wanting to go off to school, where you like planning to work? there? Yeah. What, what, what kind of coaxed you to stay with the family business?

Lori Olund 10:23

Well, I was working at a Athletic Club, which I thought was just the bomb, you know, that was really cool and everything, but I did want to go to school. So my father said, Well, if you go to, if you come work for me full time of pay for your college, so I thought, well just do that till I graduate. And then I’ll, you know, go off and, you know, maybe work for another Athletic Club or something. But I fell in love with it so much that when it was when I graduated, I stayed. And I kind of teased them like that was planned, maybe I don’t know. But I just did really enjoy working and going to school at the same time, because I could apply everything I was learning.

Carl J. Cox 11:06

You made a comment earlier that you’ve, you didn’t get any easy parts, right? You were treated like everybody else, when you first started doing basic. So did you really have that experience? Have you been able to do nearly every single part of the business as you’ve been growing up through it?

Lori Olund 11:22

Yeah, I haven’t. We all the family members has started at the bottom and work their way up. So I started just, you know, in the office doing filing work, and then I went to payroll and payables. But I’ve even been on the floor, shooting parts and learning what that’s all about. So I feel like I’ve done a little bit of everything. And I think that’s really helped to.

Carl J. Cox 11:46

Yeah, maybe you can expand on that a little bit more. Do you feel like when challenges or problems come up, that you can be more of a resource and more understanding when people are explaining about challenges? Or, you know, or is it? Is it not helpful? Because do sometimes get caught that you want to end up solving it? You know, people sometimes go both ways with that?

Lori Olund 12:07

Yeah, well, I feel like when I was in HR, I went out and actually made parts because I felt like when I interviewed him, I could relate and be able to tell them, you know, better what they’re going to be doing and how, how it is doing that function. So I do feel like it’s helped me out a lot. Just getting involved in all those different areas.

Carl J. Cox 12:35

So one of the questions Lori, I always like to ask that our guest is so how do you measure success with with Miles Fiberglass and Composites, and you could do that interview with clients or the firm? What are some things that just you know, what resonates in your you in your organization feels comfortable about what’s taking place?

Lori Olund 12:55

Well, I think the number one thing is how long and how happy our employees are working with us, you know, the opportunity to learn and grow. And we like to offer certified composite technician courses, we have an endowment at the community college where they could do college classes, or they can we have scholarships there for their children to, we just want to, you know, make sure that they’re really happy where they’re at, and they’re belong to something bigger, you know, kind of a family atmosphere. So I think that’s the number one measurement. And then the other is our margins, you know, how our margins is not just the volume of sales, but your margins that you’re making on your sales so that you can, you know, enable to give, you know, bonuses, invest in more capital and, you know, donate back to the community. And then the last thing is, being a family business, it would be like, you know, how is our family harmony and plan for succession to make sure the business continues to grow. And so it’s important to have, that we’re all on the same page and have similar goals. And our succession is all determined the longevity of the business. So those are probably the three most important things.

Carl J. Cox 14:20

That’s honestly one of the best answers I’ve heard doing these podcasts. I love it, how you have these three key things when you started with the employees, which which sounded like that was number one to you, too. We got to make sure that we’re selling our products at a certain margin so we can pay our employees right pay ourselves and help it continue invest in the company. And then the last part is getting along right finding harmony. And that he’ll have that bar right. So that might be one of the most challenging. But it’s impressive that you have so many like it getting to that third generation you mentioned you, you have to your son’s now working out It How is their experience? Man? Have they been able to same thing grow up and start learning about what’s taking place and taking on more value added roles?

Lori Olund 15:12

Yeah, they haven’t. It’s really funny because when they were young, we would talk about business and they’d be like, don’t talk about business anymore. And now it’s them. They’re the ones talking about business all the time. They’re really, they’re really into it, they love it, they ask questions. And so it’s really fun to see that they’re really excited about it. And my husband works here too. So I think that for us, it’s so hard to go home and turn it off and not talk about business, but we try and have our limits, you know, and, and keep things separate. But overall, we all enjoy it. So you know why, why not do what you enjoy. So

Carl J. Cox 15:54

that that leads me to heading he kind of perfectly Dogtown. I apologize if I didn’t bring up that your husband, of course, is working the business as well. But how do you get plugged in? From being the president of your business in your son’s in your, your, your sister and your brother in law? Your dad? I mean, how do you? I get imagine there’s time to time you need a little break from that to rest? Or do you? I’m curious, what do you do to help get unplugged?

Lori Olund 16:23

Well, I like to run and so I get up every morning at five o’clock, and I run and go for a run. And it just releases. Everything clears my mind for the day. And it’s just a great way to release stress. And also at noon, I’ll go do weightlifting, something that’s away from the office, I’ll do walking or whatever, just to clear my head and get away and get recharged.

Carl J. Cox 16:56

I think to a tee every single guest I’ve had on so far has some exercise program. And it has been the one consistent thing and every single one of our CEOs, leaders, you know, they’re people who are in charge of things. And I love that I love it how you have this, you’ve created a habit, right of making sure you get up every day you run and get through that. So I’m curious, and I don’t know if you’ve thought it in this question in the way but how do you measure success in your personal life?

Lori Olund 17:28

Personally, I wonder and I, I’m always striving to be happy where the company’s going? And I’m always asking myself, you know, am I a good leader? Am I leading the business in a good way? And my good to the family? You know, that’s always just always checking myself there. I think that’s that’s how I would measure my personal success. And then, you know, have I secured myself with retirement, so I don’t put a burden on the business. And the third generation, I want to make sure that I don’t need that, that I’m personally okay without relying on the business. So. And then I think the last thing is my family happy and healthy. I think health is one of the most important measurements because you can’t buy health and you only have one shot at being healthy. So I do as much as I can to keep healthy and not a burden on someone else. And now I always ask myself, does the family still like to get together and travel together and hang out together. And we we do a lot of that as a family, you know, on a large scale, we’ll travel together, we’ll go to conventions and stuff. But we always try and have fun too. So I just want to make sure that we keep that harmony and we keep wanting to do that we still like each other at Thanksgiving.

Carl J. Cox 19:02

That is a great goal. I love that I really do. So one of the questions I always like to wrap up with is jus you mentioned, you’re a reader. That’s something you obviously have found a way to build them, which is a very once again, common element of leaders that I talked with. What do you have what is like your favorite book you’d like to recommend?

Lori Olund 19:26

I think my favorite book is Shoe Dog. And it was written by Phil Knight. I really like it because it’s a true book on entrepreneurial ism. And it shows the, you know, gumption that it takes to run a business and all the ups and downs and just going through those ups and downs and what it takes to be dedicated to a business and be successful.

Carl J. Cox 19:56

Lori, that is a awesome answer. That is one of my favorite books. I think I have in my past 10 to 15 books. I absolutely love it. I think one of one of my friends growing up was actually mentioned Jim Gorman in the book. And so it was, it was kind of fun hearing his name, you know, because I remember going over to houses like, wow, I had no idea his dad had such an impact on the early part of it. So, yeah, it’s a super neat story. So we have been talking and been so excited Lori to have you here, you have Miles Fiberglass and Composites. Where can people learn more about you and perhaps get an opportunity for employment? Looking at your company’s Well, here,

Lori Olund 20:39

they can go to our website. It’s www.milesfiberglass.com.

Carl J. Cox 20:46

Great. Perfect. Well, Lori, thank you so much for this and thank you everyone else to listen to the Measure Success Podcast, wishing you the very best at measuring success.

Lori Olund 20:58

Thank you, Carl J. Cox.

Carl J. Cox 20:59

Thank you.

Outro 21:02

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