Comerica Corner: Luis Spinola
Comerica Bank: Financial Corner
This world is full of extraordinary business Latino leaders. Like Luis Spinola, President and CEO of Azteca-Omega Group. Founded in 1983, Azteca-Omega has grown into a full business that provides program management, construction management, and general contracting services for the commercial and municipal sector. But much of his success is due to the relationship Spinola has developed with those around him. In particular, his team at Comerica Bank.
Around 1996, Spinola was looking to expand his line-of-credit with his previous bank. One of his friends recommended that he meet with Comerica Bank. Within a few days of this meeting, he had gotten great news. That was something that impressed Spinola. Comerica’s disposition and proactive attitude. “They are always there to help and advise,” said Spinola. Because of them, they have been able to expand their lines of credit, but most importantly his business.
Like every business owner, he had to learn the basics of finance. His advice for aspiring entrepreneurs? “It is important to develop a personal relationship with your banker and do what you say you are going to do. Provide all of your financial information to the bank,” advise Spinola. “Be truthful. Be transparent. Always tell them what you are planning to do. Give them continuous updates on how and what you are doing. It really helps them understand how you run your business. It’s all about communication.”
With a team like Comerica behind us, success was unavoidable. “It has allowed us to grow. It has allowed us to develop the company and acquire the equipment we needed to get to the next level. Their advice helped us control that growth.”
But Spinola took it a step further. He knew that his community not only wanted a Latino business owner in town, but also needed a leader. “I think it’s a moral obligation. Once you get to a certain level in your business, you need to help the community develop their capabilities,” Spinola said. “You have to become a leader who helps others to grow and get their education.”
Spinola began his involvement through the Regional Hispanic Contractors Association. In 2004, he became chairman of the association. In his role, he was able to form a team that would help the HCA grow. “We were able to bring in good board members who helped grow the association to 1,500 members,” stated Spinola.
Values and ethics contributed to the success of Spinola and Azteca-Omega. Transparency, teamwork, a can-do attitude and good leadership are the values Spinola likes to lead with. “Always be truthful and help others. Learn how to be a family. All your workers are like family, and they are the most important part of a company. They are the biggest asset to have. Take care them and help them grow.”
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