October 2024

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.

Related: ‘I Used to Sleep Under My Desk:’ How a Burnt Out Executive Changed His Ways and Now Runs a Sleep Wearables Company.

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.

Related: This 30-Year-Old Left Harvard and Raised $25 Million in Funding to Launch a Nutrition Business Inspired by His Mom

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.

Here’s something I’ve always believed: the better you know your team members, the easier it is to give them the support and freedom they need to be successful in their work.

At my last company, all of my direct reports were with me for at least eight years. We went through a significant portion of our lives together. My team members lost family members, had legal issues and fertility issues, got married, moved and divorced, and I saw it all. I also saw how all these things affected their performance in the office — some were temporary changes, while others were forever.

Those experiences also shaped the way I currently run FutureFund, the free fundraising platform for K-12 school groups that I founded. Here’s my advice on building strong working relationships to set your organization up for better teamwork and more success.

You have to know where people are coming from

Some managers don’t want to know about their team’s personal lives or experiences, but I think that’s a mistake. Asking appropriate questions and getting people to open up not only builds trust; it also helps you understand what they’re working with — and what they need to work more effectively.

Here’s an example: I had a first-time manager who was recently promoted, but soon afterward, his performance began to drop.

There are two ways to deal with this kind of thing when it happens. The first one is to give an ultimatum. You tell the person that their performance needs to improve or that they have to go.

The second is to ask them if everything is okay. That’s what I did, and he told me his cancer was back. He was a veteran and had been exposed to some nasty things in Iraq, giving him health problems. Suddenly, the fact that his performance was slipping wasn’t the issue anymore. Our priority became getting him the support he needed — and by being able to help him, we were able to help the business.

10 years later, this employee was still with us, and his work was great again. But I never would have been able to ascertain that if I had taken the other approach.

Really getting to know someone means asking the right questions and listening carefully to the answers. And it’s never too early to start — in fact, you can (and should) begin doing this from the moment you sit down to interview a candidate.

Related: I’ve Interviewed Over 2000 Candidates — Here Are the 2 Questions I’ve Asked the Best Hires

It’s not about micromanaging

Knowing your people isn’t the same as keeping tabs on them. Breathe down a person’s neck, and they’ll come to resent you. But show them you care, and you’ll empower them. It’s a simple difference but an important one.

Mentorship plays a critical role in this process. I’ve written extensively about the role of mentors in business, but the key is to see yourself as a coach — someone who is actively involved in your team’s success.

Adopting this perspective keeps your feedback constructive instead of punitive and reassures your direct reports that you have their best interests at heart. However, it also requires some vulnerability on your part.

Related: Be a Coach, Not a Referee — How to be a Good Mentor and Manager from a Coaching Perspective

Vulnerability inspires trust and transparency

One aspect of effective mentorship is setting yourself up as someone people trust. Not only do you need to be willing to learn about their lives, but you may also need to be comfortable opening up about yours as well.

One thing we do as an executive team when we get together is share a personal story. It’s usually something about family, and it often involves a personal struggle. It can even result in tears.

It’s not structured or forced. We just go around, and everyone has the opportunity to share as much or as little as they want. It is the single best activity I’ve ever done to feel close to the people I work with.

Everyone is showing a degree of vulnerability by sharing something private, and it takes a lot of courage. It also creates a level of understanding, respect, and friendship that I’ve never seen in any other activity that we’ve done.

Strong working relationships have immeasurable benefits

When you take the time to really get to know your team — and let them get to know you in turn — incredible things can happen. Many of these have a value that is easy to quantify: a better understanding of each individual’s capacity, opportunities for more focused mentorship and coaching, and a sense of what risks people are comfortable taking.

Related: Why You Have to Let People Fail Now So They Can Succeed Later

But there are benefits you can’t measure as well, like loyalty and trust. People don’t just give you these things when you tick enough boxes as an employer. They need to feel like you mean something to them.

Ask the right questions, listen to the answers, and don’t be afraid to open up and share about your own life as well. It might put you outside your comfort zone at first — but as any successful leader will tell you, that’s where growth happens.

My 26-year-old daughter recently got married. I’ve been to dozens of weddings and have enjoyed them, but this was the first time I was involved in putting a wedding together. In the months of planning for this week with my wife, I learned seven valuable lessons that can relate to business.

We thought about having a traditional wedding, so we searched for a wedding venue to hold the reception. However, we ran into a problem. Our guest list included about 500 of our closest friends — most of them were my daughter’s network of fans, friends, students and others.

Paying $50-$150 per plate for a reception venue was out of our budget for that many people. We had a choice: We could whittle down the list or put the wedding together ourselves. We did both.

We got the guest list down to 300 people, and to still save as much money as we could, we did the wedding ourselves. My wife was the wedding coordinator, and I was her assistant.

What does a DIY wedding look like? Well, we bought custom stickers and placed 400 stickers of the bride and groom on 400 water bottles. We borrowed vases from friends and had many of our own from previous events. One of our friends is a design hobbyist, so she made dozens of table settings and bouquets from real flowers and fake flowers. I could go on.

However, what was MOST important about planning this wedding were the lessons I learned in doing it:

Related: 8 Important Lessons From Leading Entrepreneurs

1. Communication is essential

We had several WhatsApp groups to facilitate communication. We had regular meetings for status updates and planning various elements of the wedding. My wife and I were in constant communication. We went to the venue, our church, many times to prepare and plan.

Poor communication is one of the biggest barriers to success. Miscommunication and misunderstanding will sink your business.

Maybe my wife asked me to “put vases on the table,” but I didn’t ask which vases. This can result in the wrong vases being on the wrong tables.

Your business is the same. Communicate clearly — in fact, when the task is highly important, you should over-communicate.

2. Be clear on the goals you’re trying to accomplish

As we went through the weeks leading up to the wedding, we kept in mind the key goals we needed to accomplish. We knew the bride and groom had to get married — that was most important. Other goals we had were good food and a fun environment, among other things.

Your business is the same.

Be clear on what goals you want to accomplish in your business, including the various projects and tasks that are a part of your business. If you’re not clear on your goals, it’s going to be very hard to know what success looks like and how to even be successful.

3. Get help

While my wife shouldered the bulk of responsibilities for the planning of the wedding with my support, we could not have done the wedding by ourselves. We had friends and family helping us at various stages of the wedding.

One couple helped us for weeks leading up to the wedding. Other friends also offered assistance on the day of and in the weeks before the wedding.

Running your business is the same. It’s very difficult to serve your customers and grow your business if it’s just you. Seek help by building a team, and seek help from friends, mentors and even your family. You’ll need help in different ways from different people.

Help could take the form of paying a lawyer to help you draft a legal agreement the right way. Help could take the form of a good business friend giving you advice on a new hire.

Don’t be afraid to get help in starting and growing your business.

4. Who you partner with is important to your success (or failure)

My wife and I were partners in ensuring a successful wedding. We trust each other and do our best to work together. It’s the same in business.

In order for a partnership to be successful, you must understand what’s important to your partner. Understand how they communicate and their styles of working.

A partner can be a POWERFUL asset to your business as they can help offload the thinking and actual work that needs to be done in order to grow a business. However, the wrong partner can be detrimental to your business.

Related: 25 Lessons Business School Won’t Ever Teach You

5. Prioritization is essential — Don’t major on the minors, and don’t minor on the majors

Prioritization is important, especially as the complexity of your projects increases. There’s only so much you can get done in a given day. Time is finite. Hence, being able to prioritize is essential. In preparing for the wedding, we had to constantly prioritize. For example, today, we’re going to set up tables. Tomorrow, we’ll set up vases. As we got closer to the wedding, we had to “let go” of some things and scale back on other things.

You’ll need to do this in your business as well.

What needs to be done TODAY? What can wait until later? What MUST be done this quarter, and what can be held off to another day?

As you work with others, also understand that YOUR priority might not be their priority. Hence, having shared goals and an understanding of what’s important to you, your partner and/or your team is important.

6. Who are the stakeholders?

For the wedding, we knew there were several important people or groups of people we had to consider. The bride and groom were the most important. The groom’s parents were also important, so we had to consider their needs and concerns. We also had to think about our church ministry and their concerns and needs for the wedding.

Your business is the same. You’re NEVER solo in your business. There’s you, your employees (or team members), your customers, possibly government agencies, vendors and others.

Consider the stakeholders who are important to the success of your business, and think about their needs and concerns.

Related: 5 Lessons From The Most Successful Entrepreneurs

7. Get advice from others

Critical to the wedding’s success was our wedding coordination team. This team was made up of my sister, my daughter’s best friend, my wife, my daughter, my daughter’s fiance and me!

We had regular meetings with this team to get their input and their help with much of the planning for the wedding — cake, clothes, housing and so much more.

You also need advisors in your business. You can get advice from peers who are fellow business owners. You can get advice from books and podcasts. You can join a mentorship community. You can also hire a consultant to guide you with certain aspects of your business.

My daughter’s wedding was a success, and now you know why. A wedding is a one-day event. However, your business can take years to grow and be successful. You can’t build a successful business alone — it takes guidance, purposeful planning and a bit of luck.

Building a business is an exciting but often unpredictable journey. Some months, you’re riding a high, seeing growth and momentum; other months, things slow down, leaving you stressed and questioning your financial stability. But, as a Hispanic entrepreneur, this rollercoaster can be a silent weight, a voice in your head that sometimes speaks through your partner, your parents or friends, reminding you that results are still pending. But mostly, it’s your own voice.

Let’s be honest: Inconsistent cash flow is a huge challenge. There is no way to find financial peace when you feel like you’re on top of the world one month, and the next, you’re staring at your expenses, wondering how you’ll cover them. This inconsistency affects more than your bank account; it seeps into your peace of mind, making it difficult to plan for the future.

I know you’re eager to make it work despite sometimes thinking that sacrificing your payment each month would be sufficient. Still, in my experience, there isn’t enough guidance that speaks directly to the challenges we face as women of color and Hispanic entrepreneurs. When I started, resources were scarce, and running a business while striving for financial stability was even more challenging without a strategy that considered who I was as a person, my beliefs, my inner limitations and the strategic way to get there. I made mistakes that delayed my financial stability. But through those setbacks, I learned lessons that helped me navigate toward success — lessons that can help you avoid the same pitfalls and get there faster.

After all, we all benefit when this information is shared. For example, Latina entrepreneurs represent 16% of all women-owned businesses in the U.S. and have generated over $65 billion in revenue in a single year. Imagine how much more we could accomplish if we had access to the right tools and insights from the very beginning.

Let’s dive into the three biggest mistakes that can derail your financial stability — and, more importantly, how to avoid them.

Related: How My Hispanic Heritage Fueled My Journey as an Entrepreneur and Leader

Ignoring the importance of financial education as a business owner

We’re making progress in financial literacy as a society. Still, when you step into entrepreneurship, a whole new level of financial education is required, which many of us didn’t grow up learning or even seeing, yet it is so crucial. Consider that for most of our lives, we’ve operated from the consumer’s perspective; we have managed our finances and reacted to money from the “buying” side, looking at how to maximize the amount of money we have (discounts, sales, promotions, lean budget, zero expenses, etc.). But when you’re a business owner, you must master the “selling” side. It’s a whole new mindset that demands a deeper understanding of how money flows.

For instance, understanding cash flow, the art of pricing, how to negotiate, tax planning, retirement and investment strategies are no longer a good thing to have but an essential step if you want to grow as a business owner. If you’re not actively learning about these areas, you’re limiting your growth and putting your business at risk. Avoid falling into the trap of as long as you are bringing in revenue, you’ll be fine because it’s not just about money coming in; it’s about how that money is managed, reinvested and sustained.

How to avoid it:

Start prioritizing financial education immediately. Find resources that cater specifically to entrepreneurs. Take courses, attend workshops or find a mentor who can guide you in business finance. Knowledge in this area will give you the power to make better decisions and accelerate your path to stability.

Related: The Financial Literacy Basics Entrepreneurs Need to Know

Carrying shame and guilt about earnings

For many of us, especially in the Latin community, there’s a deep-rooted cultural discomfort around money. We grow up hearing messages like “Get money, but not too much that will make you a bad person,” or that talking about money is rude, but we also have been taught to hold with much grace, implying to keep our ambition in check. These messages often translate into subconscious habits with money and feelings of shame or guilt, especially when we start earning more or see financial success in our businesses.

I remember vividly feeling guilty about charging what my services were worth. It took me a long time to realize that this mindset was sabotaging my financial well-being, and it was rooted in the undressed beliefs and feelings I grew up with.

How to avoid it:

It’s time to reframe your relationship with money and directly question and shape your beliefs, ideas and feelings around earning and managing money for your financial growth. Financial independence and wealth allow us to create opportunities for ourselves and our community, so there is no space for feelings like shame and guilt in our path.

Surround yourself with people who reinforce this belief and help you build confidence in your earning potential.

Related: ‘Finances Fuel Life Goals.’ These Top Money Secrets Can Make You Happier and More Successful, According to an Expert.

The disconnect between identity and money

As a Latina entrepreneur, you may also experience a conflict between your cultural identity and your financial goals. Many of us were raised with the values of community and collective well-being, which can sometimes feel at odds with personal financial success. We may fear that pursuing wealth will distance us from our roots or make us seem less connected to our culture.

This disconnect can hold you back from fully stepping into your role as a business owner. I’ve seen this tension in myself and others, the feeling that if we become too successful, we might somehow betray our upbringing. But that’s simply not true.

How to avoid it:

Financial success is a cultural win, and the more images and examples we have walking the path, the more normal it would be for those to come to replicate and make new standard ways of being with financial independence.

You can be deeply connected to your heritage — and I strongly encourage you to do that — while also building wealth. Embrace your identity as part of your entrepreneurial journey and let it fuel your success.

In an era where artificial intelligence increasingly permeates our digital landscape, distinguishing between human-crafted prose and machine-generated text has become both a crucial skill and a fascinating challenge.

Did your eyelids get heavy reading that sentence? You have generative AI to thank.

I asked my AI companion, Claude, to write an intro, and, on cue, it spit out a classic piece of AI hawk tuah.

With all due respect to Claude, because we get along pretty well, your writing can be as dry as last night’s chicken.

And I can’t tell you how hard I tried not to ask you for ten better analogies than that.

But let’s dissect that first sentence for a second because it possesses many telltale signs that a robot wrote it. Here are a few:

1. “In an era,” AI likes to start all intros like it’s narrating a movie trailer. Some other favorites: “In the fast-paced environment of” and “In today’s world.”

2. AI loves it some adjectives, especially compound adjectives with hyphens like “human-crafted” and “machine-generated.” It just can’t get enough of those thought-provoking descriptions.

3. Complex sentences are AI’s jam. It can never just be one thing with AI “Crucial skill” alone won’t do. Oh no, it also has to be a “fascinating challenge.”

Ernest Hemingway, AI is not.

Related: How Can AI Help in Content Creation?

Artificial flavoring

I’ve been working with AI long enough to spot its sneaky ways, its tendencies, its patterns, its likes and dislikes.

Inadvertently, I’ve become somewhat of an AI profiler, hoping to track it down like a sociopath before it suffocates its next bit of prose.

If this writing thing doesn’t work out, there may be a job for me in the AI Behavioral Analysis Unit. (Btw, Grammarly just informed me it didn’t like the construction of that last sentence. Cram it Grammarly, this is my article.)

How did I get here?

Over the past few months, I’ve been taking a “deep dive” (one of AI’s favorite phrases) into generative AI to prep for an online class I’m teaching on Sunday, October 20, called: Meet Your New Writing Partner: Generative AI

The masterclass will offer tips on using AI to make your writing process more productive, creative, and efficient.

And guess who just wrote that complex sentence?

Now, it may be counterintuitive that I’m teaching a class about a technology I love to hate. But here’s the rub—for all its annoyingness, generative A.I. can be super helpful.

To use one of AI’s favorite words: It’s invaluable.

Think of it as hiring a very smart intern who just graduated from Duke to be your assistant. They know a lot and are fast learners— but they need direction.

In the class, I will teach you what I’ve learned to make AI my very smart intern from Duke.

What I won’t do is teach you how to make AI your writer. Why? Because it’s not there yet. It may be there one day, but it has some serious habits it needs to break.

I suspect many professional editors and teachers have read enough good human writing over the years to spot a fraud. Others may know something smells off but aren’t sure if it’s them or something rotten in the fridge.

So, to give you a head start, here are some surefire AI giveaways

Related: The AI Detector Dilemma

AI Be Like

1. Power words

Sometimes, I think AI was trained by the head of marketing at Nike. It seems to revel in using the advertising-speak that infiltrates popular media but that no one ever uses in real life.

Words to be aware of/beware of:

• Revolutionize

• Game-Changing

• Innovative

• Groundbreaking

• Testament to

• Elevate

2. Metaphorical Words

AI so badly wants to be evocative. It yearns to speak in a way that touches the heart of its readers through vivid imagery. It’s the Tin Man looking for a heart. Look out for words like:

• Tapestry

• Mosaic

• Patchwork

• Symphony

• Collage

3. Clever Wordplay

Little known fact: AI was trained by joke book writers for 4th graders and Cosmo coverline writers from 1996. It loves to string together punny sentences, especially when it’s crafting headlines. It’s obsessed. OBSESSED with putting colons in long headlines, a practice that hasn’t been popular in newsrooms for 20 years.

Ask it to give your story a headline, and it will default to something like:

4. Terrible transitions

I get it. Most writing is plagued with awkward transitions, and they’re often one of the first things I have to edit when I’m working on a story. AI knows this, but it’s less certain how to fix it. You know AI is at work if you’re reading a story and suddenly get struck in the forehead by a clunker such as:

• Moreover

• Furthermore

• In addition to

• Conversely

• Nevertheless

• Therefore

5. Term paper conclusions

Just as AI likes to begin every story with “In a world,” it also enjoys telegraphing from miles away when you’re reaching the end of a story. It’s like it never graduated from high school English.

• In conclusion

• In summary

• Finally

• By and large

• On the whole

• Ultimately

6. Tech bro speak

Perhaps because it was created by tech bros, AI sounds a lot like a conversation you might overhear in a Silicon Valley boardroom. Tech bro speaks seeps into everything I ask it to do. Words such as:

• Leverage

• Pivot

• Holistic

• Resonate

• Enrich

• Navigate

• Multifaceted

• Testament

7. Makes simple words complicated

In AI land, “use” always has to be “utilize;” “important” has to be “critical.” For a chatbot, AI is a lot more formal than chatty and conversational. Here are some words it uses that nobody has ever said out loud:

• Delve

• Endeavor

• Crucial

• Insights

• Systemic

• Comprehensive

• Inherent

In conclusion, as long as readers want to stay awake while reading, writers are in no immediate danger of losing their jobs.

But writers who ignore AI or think it will go the way of Bitcoin are kidding themselves. That’s like refusing to trade in your typewriter for a computer or, a hundred years ago, insisting on using a quill and ink instead of a ballpoint pen.

AI will outlive us all. The issue is how to make it our companion and not our competitor.

Sign up for the “Meet Your New Writing Partner: Generative AI” workshop

Property management software is a fantastic way to increase revenue, not only by automatically instating late fees and allowing tenants to pay the way they choose but also by providing a method of preventing certain types of nightmare tenants.

A nightmare tenant is one who directly impacts your ability to make a profit. Here are some common types of nightmare tenants and the steps you can take to avoid them.

Related: Looking for the Perfect Tenant? Seek out These 6 Traits!

The types of nightmare tenants to avoid

Some of the most common landlord nightmares are those that involve some kind of bad tenant who is eating into your potential profits. We aren’t talking about an upstairs neighbor who tap dances or someone who is constantly doing construction next door — real nightmare tenants are those who cut into your bottom line.

Here are a few nightmare tenants to keep an eye on.

Tenants who don’t pay rent:

The first and most dangerous of the nightmare tenant types is the tenant who does not pay their rent. This tenant directly impacts your ability to collect rental income and makes meeting your monetary goals much more difficult.

Nonpaying tenants are occupying your property while in direct violation of your lease agreement. While it seems like it should be easy to evict someone who refuses to fulfill their rental agreement obligations, it is not always so black and white.

States vary in regard to their eviction proceedings, and it’s crucial that you do not take steps to evict the tenant on your own by turning off utilities or changing the locks. Doing any of these tactics will prolong the legally complicated eviction process and could make you partially liable.

The best course of action (besides prevention) is to contact a trusted attorney and follow their advice carefully.

Tenants who don’t leave:

Going hand in hand with tenants who never pay rent are holdover tenants, or those who had a lease agreement and simply overstay their welcome.

If you notice that Sally Mae in Unit A has not moved out the day after she was supposed to, don’t jump to conclusions. Mistakes happen all the time, and it’s possible that Ms. Mae just got her move-out date confused. It’s a good idea to send reminders to tenants who have a move-out date coming up so these good-natured mix-ups don’t occur often.

However, if the tenant refuses to move out and their move-out date has come and gone, it’s time to contact an attorney. As with tenants who don’t pay their rent, holdover tenants are a serious matter and require strict adherence to your state’s eviction laws in order to properly enforce judgments against them and get them out of your unit.

Tenants who damage your property:

Commercial tenants have certain rights to modify and change the space to suit their business needs. However, the parameters of what is allowed should already be written in your lease. Any modification or renovation that goes beyond what is allowed in your rental agreement can be considered damage, and the tenant could lose their security deposit or, potentially, be sued.

Any type of tenant who damages the property beyond normal wear-and-tear is a nightmare tenant. You expect your renters to treat your units with respect. Anyone who blatantly damages floors, walls, windows or appliances is liable to lose their security deposit. However, you will still need to arrange for repairs to take place, and it’s possible that the tenant’s deposit will not cover the fixes necessary to restore your unit back to its original state.

Related: Increase Your Rental Property Revenue by Making This One Simple Change

How to avoid nightmare tenants

The best way to not have to deal with nightmare tenants in the first place is prevention. Prevention methods will drastically reduce the likelihood that a nightmare tenant will darken your doorstep.

The number one prevention method is using property management software. Quality property management software will conduct all necessary criminal, credit and rental history background checks automatically, and your applicants can input their payment information straight into the software without having to burden you with handling checks or credit card payments.

Many property management sites will also automate certain reminders to tenants, like reminders to pay rent, move out or renew when their lease term ends. By having all these reminders automated, you can cut down on tenants who simply forget to pay rent on time or those who misunderstood their move-out date.

Automating your day-to-day rental management activities is a great way to give yourself more time to work on improving your business instead of getting carried away with its tedious daily tasks. Property management software is also a strong deterrent for nightmare tenants who most likely have a poor previous rental history, saving you from costly issues.

With quality property management software, you can avoid nightmare tenants, streamline your operations and effectively protect your rental profits.

In the competitive world of tech, Amanda Lannert, CEO of Jellyvision, stands out not only for her unconventional career path but also for her dynamic leadership style. Under her guidance, Jellyvision has evolved from a gaming and digital agency into an HR tech company that now serves 25% of Fortune 500 companies. Despite the success, Lannert’s leadership mantra remains rooted in constant improvement. As she puts it, “There is nothing at Jellyvision that can’t be improved. There is nothing about me that can’t be improved. So, where do we want to get started?”

Related: Inside a Sport Marketing Giant’s Playbook for Connecting Big Brands With Rabid Fans

Lannert’s journey with Jellyvision began in 2000 when the company was navigating a rapidly changing tech landscape. With little prior experience in technology and gaming, Lannert initially joined Jellyvision hoping to learn and contribute. However, her adaptability and problem-solving skills led her to the role of CEO.

Her story exemplifies the importance of being open to change and willing to pivot when faced with new challenges. One of her key pieces of advice for leaders is to recognize that, “The world is full of change. There is no more stability. You might as well do what you love with people you like and respect.”

A pivotal moment in Jellyvision’s transformation was the shift from creating CD-ROM-based games to developing interactive educational software. As Lannert explained, this move was guided by the desire to engage and educate users on complicated subjects like health benefits—a space often neglected in terms of user-centric design. Today, Jellyvision’s flagship product, ALEX, uses engaging, personalized interactions to help employees understand and choose their benefits, a process that can save companies significant costs and boost employee satisfaction.

Related: How Military Service Taught the CEO of Arc’teryx to Lead with Precision and Passion

Lannert’s approach to leadership is both refreshing and grounded in authenticity. She emphasizes the need for transparency and integrity in business dealings. “You can do a bad deal with good people, but you can’t do a good deal with bad people,” she shared, highlighting the value she places on character over profit. For aspiring leaders, Lannert suggests focusing on surrounding yourself with individuals who will challenge you and offer truthful feedback. “Find someone who loves you and will tell you the truth,” she advises.

Ultimately, Lannert stresses that a company’s success is built on its people. “Jellyvision is just a business that was, is, and always will be only as good as the people that we have,” she says. Creating a culture of openness and creativity is central to her leadership strategy. Lannert encourages other CEOs to embrace change and never settle for mediocrity. Her willingness to adapt, paired with her belief that everyone has room for improvement, sets a powerful example for leaders looking to drive growth and innovation in their own organizations.

Related: How This Latina CEO Created the Fastest-Growing Hispanic Media Company in the U.S.

In today’s competitive business landscape, there seems to be a ready-made solution for everything. While off-the-shelf technology can offer practicality and convenience, relying solely on these tools often leads to a product or service that lacks distinction.

Staying ahead of the competition is about more than simply adopting the latest tech tools — it’s about the ability to adapt quickly and create offerings that truly meet the evolving needs of your clients. Businesses that break free from the constraints of one-size-fits-all solutions are those that embrace innovation, developing unique products and experiences that set them apart from the rest, regardless of what industry they’re in.

Related: The Secrets to Harnessing Innovation and Driving Your Business Forward

Standing out and making your mark

The pace of technological change can feel overwhelming. For businesses, the challenge isn’t just to keep up — it’s to stay ahead. In every industry, the companies that succeed are the ones that can pivot quickly, adopt new tools and adapt their processes to match shifting trends.

As President and CEO of 1031 Crowdfunding, I saw an opportunity to break away from traditional real estate investment platforms and develop something uniquely ours. Like the best innovations, our platform was born out of necessity. There are a lot of stories of clients being misled, misinformed or deceived by other firms. Our proprietary online platform was created with transparency in mind.

We’ve built a backend system that can be easily customized, allowing us to roll out new features or make adjustments in response to real-time feedback and shifting investor demands. Our goal has always been to offer our investors the best possible experience while staying compliant with industry regulations. For businesses that prioritize client satisfaction, being able to pivot quickly with your own unique technology can be a key differentiator when it comes to successful client relations. This can relate to entrepreneurs in any industry when developing products or tools for clients or investors.

This platform isn’t just a rebranded version of what everyone else in the industry is using. It’s fully in-house, which gives us complete control over its features and makes it difficult for competitors to easily replicate. These features give us a direct line to our clients and allow us to offer services that stand out in the marketplace.

Advantages of adaptability

Maintaining control and flexibility over your business’ technological operations is a huge competitive advantage. While other companies are at the mercy of third-party vendors for updates, bug fixes and new features, we can move at our own pace. In an industry like real estate, where regulations and market conditions can change quickly, the ability to adapt is crucial. Our back-end technology moves as fast as we do.

Related: 4 Ways to Adapt Your Business as Your Industry Evolves

Imitation is not a winning strategy

As a business owner, something I see a lot is white-label solutions. Many companies mimic others’ sites and services. If it isn’t broken, why fix it, right? The problem is, if you are offering what everyone else is, why should clients choose you? You can’t expect to outpace competitors if you are all wearing the same shoes.

Off-the-shelf technology may seem like the easy choice. It’s ready-made, tested and widely available. Depending on your business and industry, this might be the right choice for you. However, there can be significant downsides to this approach, particularly in terms of differentiation and innovation.

The most obvious issue is conformity. Many businesses don’t properly utilize the creative and intellectual talents of their team and, in place of their own product development, end up using the same platform as their competitors, which leads to little differentiation beyond branding. The result? A marketplace filled with companies that essentially offer the same product or service, with few distinguishing features.

Another issue is dependency. Companies that rely on widely distributed tech solutions often find themselves limited by the functionality and update cycles of third-party providers. If your business depends on another company’s technology and they suddenly close shop, where does that leave you? While being at the mercy of a vendor’s timeline may be sufficient for some, this can hinder growth and innovation for businesses that wish to stay ahead of their competitors, regardless of industry.

Related: One Size Does Not Fit All: Customer Centricity Is The Key To Differentiate Your Business

Takeaways for entrepreneurs

For entrepreneurs and business owners, creating a unique, in-house product can feel like a daunting task, requiring a significant investment of time, money and resources. But the most successful businesses are those that actively listen to their customers. By understanding and delivering the features your clients want, you not only foster loyalty but also encourage word-of-mouth recommendations that can drive growth. In today’s competitive market, providing what customers truly need is often the difference between staying ahead and falling behind.

Innovation isn’t just an advantage — it’s a necessity. As industries evolve, companies that stay attuned to customer feedback and quickly adapt to meet their needs will secure a lasting competitive edge.

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*To receive a Digital Costco Shop Card, you must provide a valid email address at the time of sign-up. If you elect not to provide a valid email address, a Digital Costco Shop Card will not be emailed. Valid only for nonmembers for their first year of membership. Limit one per household. Nontransferable and may not be combined with any other promotion. New members will receive their Digital Costco Shop Card by email within 2 weeks of sign-up. Costco Shop Cards are not redeemable for cash, except as required by law. Digital Costco Shop Cards are not accepted at Gas Stations, Car Washes, or Food Court Kiosks. A Costco membership is $65 a year. An Executive Membership is an additional $65 upgrade fee a year. Each membership includes one free Household Card. May be subject to sales tax. Costco accepts all Visa cards, as well as cash, checks, debit/ATM cards, EBT and Costco Shop Cards. Departments and product selection may vary.

In my early years, I spent a decade in the restaurant business — owning several places and dealing with every challenge you can imagine. If I’ve learned anything from my time in the restaurant industry, it’s how to stay sharp, pivot fast and manage chaos calmly.

Years later, as a tech CEO, I still rely on the lessons I learned in those kitchens and dining areas. The restaurant industry runs on principles that translate seamlessly to any sector, and the smartest businesses are the ones that take a page out of their playbook. Three practices are crucial for success, no matter your business. Let me break them down for you.

Related: Your Definition of Leadership Is Outdated — Here’s How to Be a Better Leader in the Modern Workplace

1. Have a contingency plan

Always be ready. You know things may go sideways really quickly if you have ever worked at a restaurant. One minute, operations are running perfectly — then in the next moment, the fryer goes down mid-dinner rush, or worse, the point-of-sale system (POS) crashes.

Successful restaurant managers have mastered the art of managing panic. They pivot quickly. Handwritten orders are scribbled out, alternative cooking methods are deployed and the operation continues without missing a beat. This approach of adaptability is something every business needs to adopt.

In the tech world, we love to plan and strategize, but things still go wrong. Servers crash, products fail and teams get discouraged. How well your business handles these curveballs will define your success. I’ve brought the restaurant industry’s ability to adapt without losing revenue or customer trust into my leadership style. Whether it’s a backup system or cross-training staff, a contingency plan guarantees that you’ll always be ready for the unexpected.

2. Study your competitors

In the restaurant business, every thriving establishment keeps a close eye on its competitors. As they say, “Success leaves clues.” If the new place across the street is packed every night, you’d better believe the local owners are heading over there, taking notes. What’s their pricing strategy? How are they marketing? Are their menu items seasonal or trendy? Restaurants study this information not to copy but to adapt and innovate.

Paying attention to the reasons behind your competitors’ success is crucial, yet simply replicating their strategies will not lead to significant progress. The real value is found in recognizing opportunities for improvement. Maybe they’re attracting a large crowd, but is their service slow? Are their offerings limited? Spot opportunities where you can outshine them. Whether that means enhancing your customer experience, reinventing your product or differentiating yourself with what you stand for, take what works and build upon it.

Although studying the competition has statistical significance, too much attention to them can limit your own potential. You run the risk of moving from proactive to reactive. Use competitor analysis as a springboard for innovation. By studying their strengths and weaknesses, you can push your business in a direction they haven’t considered.

Related: Outlast Your Competition By Focusing on These 3 Areas

3. Work on soft skills

Soft skills are just as important as technical skills in the restaurant industry. It may sound like something that belongs in an HR training module, but in business, they’re essential for survival and growth. For instance, it is imperative for the cook to notify the dining staff and guests right away when a popular dish runs out to manage expectations. Real-time communication among staff, clients and managers helps reduce preventable errors, minimize frustration and preserve high standards of service.

In a more general corporate environment, relationships must be maintained by soft skills, including feedback, empathy and communication. Minor difficulties could develop into major issues if you struggle with effective team and client communication. Maintaining trust, loyalty and efficiency depends on handling circumstances as they abound, whether it means telling a client about a delay or providing a team member with constructive criticism. Leaders who master soft skills tend to have happier teams, lower attrition rates, and more satisfied clients.

Just like restaurants rely on direct communication to manage the customer experience, businesses need to apply the same approach to their past customers. Following up with a past customer doesn’t mean sending a generic email. It could be a personal thank-you note or a tailored offer based on previous purchases. Customers who feel valued are more likely to return, give positive feedback and recommend your business to others. Soft skills build these long-term relationships, turning one-time buyers into repeat customers and brand advocates.

Related: What It Takes to Grow Your Team in a Niche Service Industry

The restaurant mentality

Whether you’re managing a law firm, operating a retail business or running a tech company, these principles are my non-negotiables. Customers expect you to anticipate their needs; they expect exceptional service, so your operations need to run smoothly, and you must be able to adapt to changing market demands quickly.

If you fail to embrace these principles, you’ll quickly fall behind. Customers will move on to competitors who can provide them with their money’s worth. Your operational inefficiencies will eat into your margins, and your inability to adapt will leave you irrelevant.