[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
Mike Feldstein used to be a "disaster chaser," building homes and communities after fires, floods, and hurricanes. Over the years, he became an expert in identifying what air quality conditions make people sick and how to fix them. He noticed that the commercial-grade air scrubbers used in places like hospitals and office buildings were effective and powerful—but also loud, ugly, and inaccessible for at-home use.
Then, he had an idea: What if he could develop an industrial-grade air-purifying system that was smaller, less expensive, quiet, and stylish? His company now develops Jaspr air purifiers, which combine innovative design with unparalleled reliability. For $999, the device's filtration system captures 99.9% of ultra-fine particles as small as 0.1 microns and combats wildfire smoke, mold, allergens, and other common indoor air pollutants, bridging the gap between commercial and consumer use.
Feldstein joins this week's episode of the One Day with Jon Bier podcast to talk about his path to creating Jaspr and what he learned about founding a company along the way.
Solve a problem
The core of any great business is that it solves a problem. For Feldstein, that problem was finding quality air filtration for at-home use. He originally designed what would later become Jaspr for his family and friends with no intention of taking it to market.
"There was a point where I was like, I don't really feel like creating a hardware business, but I was just going to order 50 for friends and family," he says. Then COVID happened, and the need for a product like Jaspr became not only good business but essential for healthy breathing.
Innovate with a bare-bones crew
Jaspr's success isn't just about the quality of the product—it's also about how efficiently Feldstein runs his company. Feldstein says hiring small, skilled teams gives him an edge, allowing Jaspr to run lean while offering good service. Larger organizations can often be slowed down by layers of delegation and meetings. In contrast, with a skeleton crew, Jaspr can compete with much larger firms.
Focus on what matters most
Feldstein's business strategy is simple: focus on the essentials and execute with precision. In the case of Jaspr, that means improving the quality of the air we breathe. Among his first B2B clients were dentists. Why?
Dental offices "have the worst air by far," Feldstein says. "They're literally spraying water and air into your mouth and everyone's blood, saliva, bacteria, and viruses." He says that dental offices were scrambling to order his device during the pandemic, with some hygienists refusing to work if the Jaspr started malfunctioning.
Spot premium opportunities with minimal overhead
Feldstein says entrepreneurs should look for business opportunities that provide substantial returns without the overhead. He says he was inspired by a trip to Austin, Texas, where a paddleboard company raked in millions of dollars each year, leading a tour to see a bat colony during sunset. Their cost of the paddleboards and an ad in AirBnB was minimal, but the promise of seeing bats was premium.
"It's $50 a person, and you go on a six-person paddleboard. So each paddleboard's making 300 bucks, there's like 10 paddleboards at a time, so the guy's making like three, four grand an hour, has like him and one other guy," he says.
Learn how to listen
Feldstein says customer service is an essential part of Jaspr's business model. He learned about interacting with customers many years earlier when he drove an Uber. That's right—Feldstein had a brief yet eye-opening stint as an Uber driver before diving into the air purifier industry.
"I was actually losing $2 an hour," he laughs.
But he wasn't doing it for the money. He did it to raise money for good causes, get out of his house, and interact with a wide range of people.
"I became an Uber shrink," he says, guiding his passengers through personal and professional challenges.
Feldstein's journey from disaster chaser to Uber driver to air purification innovator proves that sometimes, a breath of fresh air is all it takes to turn diverse experiences into a million-dollar business.
0 Comments