Product Diversity Helps Company Weather Storms

Economics alumnus Bob Selig ’61 doesn’t believe in putting all his eggs in one basket. Or, for that matter, all his lifejackets in one boat, all his speedometers in one car, or all his sensors on one temperature probe. His company, Davis Instruments, offers three distinct lines of merchandise: those relating to weather, automobiles, and marine products.

In 1969, fresh out of business school, Selig and a business partner bought Davis Instruments, a six-year-old San Francisco Bay Area company. Says Selig: “That’s the time to start a new business, because if it fails, you can still get a job.” At that time, the company offered 13 products, all of which were marine-related. Typical company offerings, in those days before GPS, were such items as marine sextants and yachting speedometers.

Eager to expand the company’s product line, Selig and business partner Jim Acquistapace began developing more products as well as buying up smaller companies that produced unique items. Today, more than 50 percent of Davis’ products are developed internally. The company offers several hundred products, all of which have practical applications and offer unique solutions to everyday problems.

After continual growth in the marine equipment waters, Davis Instruments moved in a new direction when it acquired a weather instrument company in 1987. In the late ’90s, Davis diversified even further when the company bought a business specializing in automotive computers. “All three product lines depend on different marketing channels,” Selig says, adding that the diversity of products gives each “extra legs in the marketplace.”

Selig credits Colorado College with providing opportunities for him to develop leadership and management skills. During his time at CC, he earned a scholarship to study in Holland one year, and served as president of both his class and his fraternity. “I don’t think I would have been able to do that at a bigger place,” Selig says. “Being in a small school for me was really important. It gave me the confidence to do things I wanted to do.” After CC, Selig moved into further leadership opportunities as a captain in the Army Intelligence Corps before going to Stanford University for an MBA.

Selig says he’s proud of the way Davis Instruments has developed. Among the 28 new marine items being offered this year is the “Whale Tail,” a fin-like device that extends behind the engine to utilize prop wash energy (which is normally lost).

Too bad Selig won’t have time to use his own Whale Tail. With his wife, Meryl, he’s training for his third Ironman Triathlon; holds real estate broker and general contracting licenses; works on numerous projects with Griffis-Blessing, a commercial development and management company; and serves as vice-chairman of the National Marine Manufacturers Association, on the board of the Ronald McDonald House at Stanford, and as a Colorado College trustee. He’s so busy, he doesn’t have time to take advantage of all the products his company produces.