Innovative Insights: Joe Altieri of FlexScreen on Disruption
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The Power of Solutions in Business
In the world of business, the focus should be on finding solutions rather than fixating on problems. Every enterprise exists to tackle issues, whether they are real or perceived. However, the most successful and influential individuals differentiate themselves by actively seeking out solutions. My journey into the spotlight on Shark Tank stemmed from my desire to address a long-standing challenge faced by homeowners.
As part of our exploration into business leaders revolutionizing their fields, I had the opportunity to speak with Joe Altieri.
Joe Altieri serves as the CEO and creator of FlexScreen, which appeared on Shark Tank as the world's first and only flexible window screen. He began his career as an independent sales representative within the window industry, where he quickly became disenchanted with the frail aluminum frames used in conventional screens. Today, FlexScreen stands as a prominent manufacturer, poised to achieve $30 million in revenue this year.
A Journey Rooted in Entrepreneurship
Thank you for joining us, Joe! To start, could you share your background and what led you to your current career?
My family's entrepreneurial spirit has always inspired me. Once I entered the window manufacturing sector, I realized that this background would propel me forward. There was immense excitement and demand from industry leaders upon seeing my prototype; however, the slow adoption of the technology I developed almost jeopardized my venture. Adapting our focus from a purely B2B approach to include B2C turned out to be the pivotal decision that caught the attention of Shark Tank producers.
I actually encourage my team to embrace mistakes. I want them to experiment with ideas that might be unconventional for our industry. Boldness is key; even if something doesn't succeed, each misstep is a learning opportunity, and no one makes the same mistake twice.
Disrupting the Industry with Innovation
What makes your work with FlexScreen disruptive?
FlexScreen is on the verge of introducing the world’s first automated window screen production line at our main facility in Pittsburgh! After months of preparation, our 1,300-square-foot machine is operational and manufacturing window screens at unprecedented speeds. Witnessing the automated line being delivered to our site was exhilarating. This technology has never been accessible before and is set to transform the window screen manufacturing process.
Lessons from Mistakes
Can you share a humorous mishap from your early days and the lesson learned from it?
While I wish I had a funny blunder to recount, I typically don’t find my mistakes particularly amusing! However, I value the importance of taking risks. My team and I often try new approaches, even if they lead to substantial losses. But, as I mentioned, the key is that no one repeats the same error, and we gain invaluable insights along the way.
Some of my more amusing slip-ups can be found on our social media. I often find myself in front of the camera, and I tend to mix up my words or become flustered. There are plenty of embarrassing outtakes circulating because my team enjoys showcasing my human side!
The Value of Mentorship
We all need guidance on our journeys. Who have been your mentors, and how did they influence you?
Having a background in the window industry provided me with valuable connections. I actively sought advice from successful businesspeople, which led to my first group of investors who recognized the potential of my vision and supported my initial steps.
After I developed the flexible window screen technology and applied for patents, I received a tempting offer from someone interested in buying it. Unsure of my next move, I consulted with Andy Virostek, a seasoned businessman and friend. After reviewing the situation, he strongly encouraged me to retain ownership of my invention and start my own business. He was so impressed with my concept that he reached out to fellow investors, all of whom expressed interest in partnering with me.
Andy and my initial investors have been crucial to my business's success. I highly recommend finding mentors who can share their experiences and wisdom with you. Their guidance is invaluable.
Disruption: A Double-Edged Sword
In contemporary terms, "disruption" is often viewed positively. However, can you clarify when disruption is beneficial and when it might not be?
I firmly believe that improvement is always possible. While the adage "if it ain't broke, don't fix it" holds some truth, I tend to focus on innovation and progress. No idea should be dismissed without consideration.
Five Key Ideas to Transform Your Industry
- This Won't Last. My grandfather often reminded me that everything is temporary, whether it’s good or bad. This mindset allows you to cherish the positives while worrying less about the negatives.
- Prioritize Solutions Over Problems. Businesses exist to solve issues. Those who are successful focus on finding solutions rather than merely identifying problems.
- Work-Life Balance is a Myth. Achieving balance often means sacrificing one area for another. I've learned that nurturing personal relationships is crucial for my business's success.
- Changing an Old Industry is Challenging. Despite enthusiasm for our product, the industry’s slow response to change was a major hurdle we underestimated.
- Being the Boss Doesn't Equal Freedom. There’s a misconception that entrepreneurship means freedom from work. In reality, owning a business often requires more commitment than working for someone else.
Future Plans for FlexScreen
FlexScreen is excited to license its technology to window manufacturers, and interest has been strong. As we expand our list of licensees, the demand for our automated line will grow. Several window companies are already on board and have ordered their own automated production lines. We are thrilled about what lies ahead!
Influential Readings
A book that significantly shaped my perspective is "Swim with the Sharks Without Being Eaten Alive" by Harvey Mackay. This book, which my father kept around the house, resonated with me during my formative years. One quote that stands out is: "Life is too short to wake up in the morning with regrets..." This sentiment has guided my approach to both life and business.
Guiding Values
My wife and I recently evaluated our lives and identified key values to guide our decisions: Honest, Passionate, Grateful, Healthy, and Adventurous. Our actions are aligned with these principles, which fosters a meaningful and thriving existence.
A Movement for Good
If I could inspire a movement, it would center on doing good. Utilize your resources to make a positive impact and contribute to a cause that resonates with you. Consistent action, whether through time or financial contributions, is essential. Remember, doing something is always better than doing nothing.
Follow Joe Altieri Online
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Thank you for the enlightening conversation, Joe!