Richard Soloway – CEO of NAPCO Security Technologies

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Richard Soloway - CEO of NAPCO Security Technologies

Just keep your head down and keep going.

With 30 years experience pioneering the international security industry, Richard L. Soloway is a global expert and counselor in security trends and issues including domestic and institutional security breaches leading to human injury and loss of life, kidnapping, loss of property, as well as robberies, terrorism and espionage. Mr. Soloway is the Chairman of the Board and CEO of NAPCO Security Technologies, Inc., (NASDAQ: NSSC); a worldwide leader in patented electronic and mechanical security system design and manufacturing.

Mr. Soloway’s innovative development of security and surveillance technology spans from the New York City Lindsay administration when he provided a customized security system integrating proprietary technology and available manpower for teachers in the New York City School System, to providing state of the art electronic security for the presidential jet, Airforce One. Mr. Soloway has been honored with numerous awards, among them being the ‘Champion for Safety Through Education,’ awarded by the Guardian Angels and as winner of the Ernst & Young ‘Entrepreneur of the Year’, awarded by CNN, USA Today, and NASDAQ. He has been quoted as a security expert in numerous publications (www.richardsoloway.com).

A self-made man, Mr. Soloway began designing and manufacturing electronic sound and light equipment for rock bands in the late 1960’s for such notable artists as Eric Clapton, Jim Morrison, Jimi Hendrix, and The Monkees. In the early 1970’s, Mr. Soloway’s entrepreneurial ingenuity identified a growing need for commercial and residential security, and in 1972, he founded NAPCO Security Technologies, Inc., as a public company (NASDAQ: NSSC) on Long Island, New York.

Today, NAPCO employs more than 1,000 employees worldwide www.napcosecurity.com). Mr. Soloway is the holder of numerous electronic design and manufacturing patents in the security industry. He is listed in the “Who’s Who in Finance and Industry” and resides in Manhattan with his wife Donna.

Where did the idea for iBridge come from?

The idea really came from the change in the demographics of our society. Younger people are the ones buying houses and using smartphones therefore, they want to control many functions in their lives remotely to make life easier. Convenience is what they are used to.

What does your typical day look like and how do you make it productive?

I love the process of developing and manufacturing electronic products. I am a 24/7 person and being creative is in my blood. Being productive comes naturally to me because I love what I do.

How do you bring ideas to life?

Through networking and a constant awareness of what is going on around me.

What’s one trend that really excites you?

Connected home aka the internet of things (IoT)

What is one habit of yours that makes you more productive as an entrepreneur?

Curiosity.

What was the worst job you ever had and what did you learn from it?

I have started up 3 companies, acquired 4 companies and have never worked for anyone in my life.

If you were to start again, what would you do differently?

I have had a successful track record and I’d just keep it rolling.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

Just keep your head down and keep going.

What is one strategy that has helped you grow your business? Please explain how.

Having a great team around me. I really listen and incorporate their ideas in the final synthesis.

What is one failure you had as an entrepreneur, and how did you overcome it?

Making products too far ahead of their time.

What is one business idea that you’re willing to give away to our readers?

Implementing comprehensive school security systems into each and every school in this country.

Tell us something about you that very few people know?

I like art.

What software and web services do you use? What do you love about them?

I use iPad, blackberry and IBM mapics software. Fast and reliable.

What is the one book that you recommend our community should read and why?

Steve Jobs book and the “social media movie. Both of these give a good insight of today’s world.

What people have influenced your thinking and might be of interest to others?

Ronald Reagan, Larry Kudlow, Bill Clinton

Connect:

http://www.napcosecurity.com/
NAPCO Security Technologies on Facebook: https://www.facebook.com/pages/Napco-Security-Technologies-Inc/266486916790145

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