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Mike Feldstein he was a “disaster hunter”, building homes and communities after fires, floods and hurricanes. Over the years, he has change into an expert in determining what air quality conditions make people sick and how to deal with them. He noted that business air purifiers used in places reminiscent of hospitals and office buildings are effective and efficient, but also noisy, ugly and unavailable for home use.
Then he had an idea: what if he could develop an industrial-grade air purification system that was smaller, cheaper, quiet and stylish? Currently, his company is growing jaspr air purifiers that mix revolutionary design with unrivaled reliability. For $999, the device’s filtration system captures 99.9% of ultra-fine particles as small as 0.1 microns and fights wildfire smoke, mold, allergens and other common indoor air pollutants, bridging the gap between business and consumer use.
Feldstein joins this week’s episode One Day with Jon Bier a podcast about his journey to creating Jaspr and what he learned along the way about starting a company.
Solve the problem
The essence of any great business is that it solves a problem. For Feldstein, the problem was finding a high-quality air filter for home use. He originally designed what would later change into Jaspre for his family and friends, with no intention of bringing it to market.
“At one point I thought, I don’t really want to start a hardware company, but I wanted to order 50 pieces for friends and family,” he says. Then Covid happened and the need for a product like Jaspr became not only good business, but also essential for healthy respiratory.
Innovate with an uncompromising crew
Jaspr’s success depends not only on the quality of the product, but also on how efficiently Feldstein runs his company. Feldstein says hiring small, expert teams gives it an advantage, allowing Jaspr to operate cost-effectively while still offering good service. Larger organizations can often be slowed down by layers of delegations and meetings. However, with a skeleton crew, Jaspr can compete with much larger firms.
Focus on what’s most significant
Feldstein’s business strategy is easy: focus on what matters most and execute with precision. In Jaspr’s case, this implies improving the quality of the air we breathe. Among his first B2B clients were dentists. Why?
Dental offices “have the worst atmosphere by far,” Feldstein says. “They are literally pouring water and air into everyone’s mouths and into everyone’s blood, saliva, bacteria and viruses.” He says dental offices scrambled to order his device during the pandemic, and some hygienists refused to work if Jaspr began malfunctioning.
Spot bonus opportunities with minimal overhead
Feldstein says entrepreneurs should look for business opportunities that provide significant profits without overhead costs. He says he was inspired by a trip to Austin, Texas, where a paddleboard company raked in hundreds of thousands of dollars each 12 months by hosting a trip to view a bat colony at sunset. The cost of the paddleboards and promoting on AirBnB was minimal, but the promise of seeing bats was premium.
“It’s $50 a person and you ride a six-person paddleboard. Each paddleboard makes 300 bucks, there are about 10 paddleboards at a time, so the guy makes like three, 4 thousand an hour, like him and one other guy,” he says.
Learn to listen
Feldstein says customer support is an essential a part of Jaspr’s business model. He had learned about interacting with customers years earlier while driving Uber. That’s right — Feldstein had a transient but eye-opening stint as an Uber driver before working in the air purifier industry.
“I was actually losing $2 an hour,” he laughs.
But he didn’t do it for the money. He did it to raise money for good causes, get out of the house, and connect with a wide selection of individuals.
“I became Uber’s psychiatrist,” he says, guiding his passengers through personal and skilled challenges.
Feldstein’s journey from disaster hunter to Uber driver to air purification innovator proves that sometimes all you would like is a breath of fresh air to turn a number of experiences into a million-dollar business.