I originally sat down with the one and only Mr. Joe Carleone to get some insights for another piece I was writing. You know, a quick, informative chat about leadership. But somewhere between his no-nonsense business advice and a few unexpected life lessons, I found myself completely captivated.
Because here’s the thing:
Joe isn’t just another executive spewing corporate jargon. He’s the kind of leader who actually gets it. The kind who listens before he talks. The kind who trusts his employees enough to give them the space to step up. And the kind who’s spent over four decades turning businesses around and mentoring future CEOs — before that was a LinkedIn buzzword.
And according to Joe, if you want to build a business that thrives rather than just survives, it all comes down to two things:
Cash flow: Because profit on paper doesn’t pay the bills.
Communication: Because a business is only as strong as its people.
Cash Flow: The Business Lifeline We Don’t Talk About Enough
Joe hit me with a story straight out of an HBO drama, from back in the earlier days of his career when he was running a small business in Philadelphia. One day, his accountant declared they had a profitable quarter. Huge win, right?
Not so fast. They didn’t have enough cash to make payroll.
Talk about a buzzkill.
“Many companies that go bankrupt actually show profit on paper,” Joe explained. “But they run out of cash because they expand too fast without reserves to sustain that growth.”
Lesson learned?
Paper profits are sexy, but cash is king. Because what’s the point of a “profitable” business if you can’t actually afford to pay your team and your suppliers?
And if you’re thinking, Well, that’s what business loans are for, Joe has some bad news for you.
“Banks won’t lend to you just because you have contracts,” he pointed out. “If you don’t have assets or a track record, good luck getting traditional financing.”
So, what do companies do? They scramble.
They take out high-interest loans against receivables. They beg for investment. They mortgage their sanity in exchange for liquidity.
The fix? A financial plan that doesn’t just track revenue but prioritizes having actual, spendable money in the bank. Because at the end of the day, your bottom line doesn’t mean much if your cash flow can’t keep up with reality.
Engaging Employees: Driving Them to Want to Care
We’ve all worked at places where the higher-ups seemingly lived in an alternate universe. One where budgets mysteriously disappeared and new initiatives dropped out of the sky with no explanation.
The good companies?
They actually let employees in on the financial realities, the good, the bad, and the oh-gosh-we-can’t-afford-to-hire-right-now ugly.
“If they know how the company is doing financially, they’ll understand why certain budget decisions are made,” Joe said.
And more importantly, they’ll actually care.
Individual Incentives vs. Team-Based Profit Sharing
If you think a well-placed bonus is the key to a motivated team, Joe would like to have a word.
"The way I look at incentive systems, incentive systems are there to keep the people there. In other words, incentive systems, in my experience, don't change behaviors. The really good people will do the right thing even if they don’t feel they’re being compensated properly, but they'll leave eventually."
So, instead of pitting employees against each other with individual bonuses and commission structures, Joe prefers profit-sharing.
"If the whole team wins, the whole company wins, then you get a portion of that. There’s nothing about individual winners and losers in the business. It builds teamwork rather than fostering internal competition."
Which, if you think about it, makes total sense. Because who really wants to be part of a company where everyone’s out for themselves?
(Spoiler alert: No one.)
Skip-Level Meetings: Giving Employees a Voice
One of Joe’s leadership staples is skip-level meetings, where executives meet directly with employees who report to their managers without those managers in the room.
Why?
Because, let’s be honest, people act differently when their boss is in the room. (Not me, of course [insert angel wings])
"You want to know what’s really going on? Talk to the people doing the work. Managers aren’t always intentionally filtering things—but employees won’t speak as freely when their direct supervisor is sitting next to them," Joe explains.
He shared how implementing these meetings transformed the workplaces he led, giving employees the confidence to share challenges, suggest improvements, and feel truly heard.
The result?
Stronger alignment between leadership and the workforce, faster problem-solving, and a more engaged team.
Joe on Rethinking Traditional HR Practices
One thing Joe made clear? He’s not a fan of typical HR policies.
Not because he doesn’t believe in structure, but because too many HR processes prioritize punishment over progress; and that, in his view, stifles both employee morale and company growth.
"Someone makes a mistake, and the first response is to document it, put it in their file, and eventually push them out if it happens again," he explained. "But what if, instead, we asked: ‘How do we make sure this doesn’t happen again? And what can leadership do to help?’"
His philosophy is simple: Mistakes should be learning opportunities, not career death sentences.
Joe believes in coaching, not reprimanding. If an employee fails, the question should be: Did we set them up for success in the first place?
Because in the end, companies don’t grow by creating a culture of fear. They grow by building a workforce that feels supported, trusted, and empowered to do their best work.
Building a Culture of Safety (and Why It Matters)
Joe’s belief in listening to employees extends beyond just workflow improvements. It applies to safety, too; because a company with a strong safety culture usually has a strong quality culture, too.
He told me a story about one of his best engineers, who smashed her hand in a door on a windy day. Instead of treating it like an isolated accident, Joe turned it into an opportunity to rethink safety measures.
"Which way does the wind usually blow?" he asked her.
Turns out, if they switched the hinges to the other side, the problem wouldn’t happen again. A simple fix, one that no one had thought to address before. Duh. (Joe’s idea)
This is what sets great leaders apart; seeing problems as opportunities to improve, rather than just mistakes to ‘punish.’
Leadership That Listens (and Doesn’t Micromanage)
One of the most profound insights from my conversation with Joe was this:
Great leaders don’t need to have all the answers, they just need to create an environment where employees feel empowered to find them.
“An imperfect process designed by the people doing the work is better than a perfect process handed down by executives,” he said.
Translation? Get out of the way and let your people do their jobs.
His father, a lifelong factory worker, used to say that the best ideas for improving efficiency usually came from the people actually doing the work, but no one ever asked them. So when Joe got into leadership, He asked.
And wouldn’t you know it? Productivity skyrocketed.
Mentorship: Joe’s Greatest Accomplishment
With all the businesses Joe has turned around, do you know what he’s most proud of? Not the profits. Not the big wins.
The people. (I’m not crying; you’re crying.)
"Looking back, the thing I’m most proud of has to do with the people I was able to help. I mean, the credit all goes to them, but I was able to mentor two individuals who went on to significant leadership roles."
One was a fresh-out-of-college aerospace engineer who climbed the ranks to become the president of a major aerospace company.
The other was a young man, a chemistry lead in Fine Chemicals who Joe recognized had a knack for business development. He eventually became Joe’s successor.
And that’s what real leadership is, not just building a business but building people who can take it even further.
What Good Leaders Do Differently
Joe’s wisdom could fill an entire book (which, FYI, it does; his latest, The Touchstones of Leadership: Essential Principles for Business Leaders, is packed with insights).
But if I had to distill our conversation into key lessons, it would be these:
Cash is king. Positive income statements mean nothing if you don’t have the cash to sustain growth.
Transparency breeds trust. Employees need to understand the financial health of the company.
Profit-sharing > individual incentives. When the team wins together, they work together.
Listen to employees. The best ideas often come from the people on the frontlines.
Empower problem-solving. Build a culture where action, not complaining, drives decisions.
Culture matters. Safety, quality, and engagement are all linked to leadership mindset.
Good leaders don’t micromanage. They trust their teams and focus on strategy and the vison.
The Leadership Mindset That Actually Works
As we wrapped up our conversation, Joe mentioned that my boss, Nigel, was planning to interview him about his book.
After hearing Joe’s insights, I could see why. Few leaders have his level of experience, and even fewer have his perspective.
I couldn’t resist teasing him, “How could you have been working for 40 years when you’re only 40?” (C’mon, I’m in BD; what else do you expect?)
He laughed, fully aware that his leadership experience spans decades. But what truly sets him apart isn’t just time in the trenches; it’s his approach to leadership.
Joe is a numbers guy, no doubt about it. He understands cash flow like a second language and has spent his career making businesses more profitable. But unlike most executives at his level, he never loses sight of the people behind the numbers.
From the factory floor to the boardroom, he pays attention to the individuals who keep the business running. The engineers designing better processes. The production workers spotting inefficiencies. The young employees who just need someone to recognize their potential.
Most executives stay laser-focused on financials. Joe looks beyond them.
And that? That’s rare.
What struck me most is that this kind of leadership isn’t exclusive to the C-suite. It’s something we can all apply, whether we’re leading teams, managing projects, or navigating our own careers.
Because real success isn’t just about optimizing processes or driving profits. It’s about empowering the people who make those processes work.
Leadership isn’t a title. It’s a mindset. One rooted in humility, empathy, and the ability to see people, not just performance metrics.
So let’s all lead with more awareness of the individual contributors who make businesses successful. Let’s create spaces where people feel safe to speak up, learn, and thrive.
At the end of the day, true success isn’t measured in revenue, efficiency, or career titles. It’s measured in the impact we have on the people around us.
And that’s the kind of leadership that actually works. More than anything, that’s the kind of leadership that Joe has mastered.