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In this brutally frank talk Marcus Lemonis reveals how he grew up drowning in self-doubt as young boy, how he attempted to reinvent himself by going to a college faraway from his hometown, and how he got into business, and more. Riveting stuff.
Thanks to Matthew from the UK for the heads up.
Click to watch. Scroll down to “Meet the Business Turnaround King.” The page doesn’t allow direct linking to the Lemonis video.
How Marcus Turned Around Courage b.
I have to confess to thinking that I wouldn’t like this episode because not only is it about a retail operation but about one selling women’s fashions. These are two things I have no interest in. Boy, was I wrong. This episode turned out to be one of the best to date in terms of both the business lessons and the emotional healing that took place.
Well done, Marcus.
James Ling on How to Transition From a Dull Industry to a Sexy One the Fast Way
If you should conclude that you are in the wrong industry and need to switch, there are two basic ways to make the transition. One is to start from scratch and go the startup route. The downside here is that it’s typically the long slow way to a payback on your investment. The odds are also against you as they are with most startups. The other way to achieve a transition is to buy your way in by acquiring an existing business which then serves as your beachhead in the new industry. You then focus on expanding the beachhead and moving inland. Think of the D-Day Landings as a good analogy for this growth strategy.
The new season of The Profit starts October 14th. That’s this coming Tuesday.
Donna Johnson Sues Stein Meats
You hate to see this kind of thing happen.
The deal between Marcus and Stein Meats fell through. Frankly speaking I am not surprised as the company had dug too deep a hole for itself. Apparently the boys weren’t too forthcoming with Marcus in terms of promised cooperation.
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