Here are a few additional articles on Marcus Lemonis
From the NY Times: A Savior Taking the Reins
On ‘The Profit,’ Marcus Lemonis Rescues Small Businesses
What Gordon Ramsay is to floundering restaurants, what Tabatha Coffey is to hair salons on the fritz — that’s what Marcus Lemonis aspires to be for any number of small businesses. Mr. Lemonis is the chairman and chief executive of Camping World, but also a jack-of-all-enterprises, spotting and stomping out inefficiencies in pursuit of profit.
Profit that Mr. Lemonis shares, naturally. “The Profit” is an extension of reality television’s long-running charitable impulse, but like the cheery moguls on ABC’s “Shark Tank,” Mr. Lemonis has skin in the game. He writes checks and takes temporary control, makes significant changes, then hopes his new partners can make him money.
His practices are politely predatory, feasting on small businesses that don’t have the resources to advance or to save themselves from eventual collapse. In the first two episodes, there’s an additional twist: the companies are run by the founders’ children, who are finding it hard to continue their parents’ legacies. These are enterprises ripe for takeover, and owners looking to fill an authority vacuum. (source)
CNBC business whiz Marcus Lemonis
“The thing that makes me different, and the thing that makes this show different, is that I put up $2 million of my own money, not someone else’s money, not a bank’s money, and in some cases I make money, and in some cases I lose it. I don’t plan on it, but it’s real and it’s raw. And what makes this show different is we take you behind the curtain so you can see what actually happens.”
His business formula is rather simple: people, process and product. He says if two of those are missing, he won’t do the deal. Most of time the deal is killed by people, the one area Lemonis finds the hardest to fix. To make sure that he never has a people problem with any business, Lemonis has a strict business ethic. He gets 150 emails every hour and the business tycoon, who has no assistant, answers each himself. (Source)
I have enjoyed the handful of Gordon Ramsey episodes that I have seen over the years, so I will give this a shot.
Could you be the next Marcus?