How are Marcus’s Small Business Growth Strategies Working?
In the second episode of season 3, Marcus returns to some of the companies he invested in during season 2 to show us how they are doing. To be frank, I would have preferred a regular episode at this point with Marcus focusing on what he does best which is creating growth strategies for small business. The review episodes are best left for season’s end.
So let’s look at what we learned last night:
Marcus Lemonis and the custom drum company
The Profit is back. Finally!
The master of small business growth strategies, Marcus Lemonis, has returned for a third season with a strong opening episode. SJC Custom Drums of Southbridge, MA was launched in 2000 by brothers Scott and Mike to design and build high quality drum kits. Over the years the company has provided kits to a number of professional bands including Green Day and Lady Gaga. The “s” in SJC stands for Scott who was the designer and technical genius behind the company’s products. Unfortunately, the brothers had some differences early on which led to very bad blood between them and culminated in Mike finally making an offer to buy Scott out of his 50% equity stake. Scott accepted the offer 5 years ago and has not been on speakers with his brother since.
Marcus Lemonis, the master of small business growth strategies, is back tonight with the third season of his hit show The Profit.
More good news from Sweet Pete’s:
Earnings Arbitrage for Entrepreneurs
Arbitrage: the practice of buying something in one place and selling it (almost) immediately in another place where it’s worth more.
My initial introduction to the arbitrage game came while I was working my way through college. I was fortunate enough to land a high paying job as a floor trader for a boutique investment firm. During lulls in trading activity you could do two things: play practical jokes on the other traders or find ways to make some more money. I opted for the latter and began buying stocks up that could be instantly resold on a different stock exchange for a profit. The money was not so much in the tight spreads as in the volume. If you did enough arb trades each and every day you could make a good income. Sadly I had to give the job up eventually because its hours only allowed me to take late afternoon and evening classes. If I was going to complete my degree within an acceptable time frame the mornings and early afternoons had to be freed up.
To Grow Fast Should You Build or Buy?
Whenever the topic of small business growth strategies comes up, there’s one that’s almost never remembered. I refer to growth via acquisitions, or as it’s sometimes called “inorganic growth.” Practically everyone’s thinking is limited to so-called “organic growth.” So let’s take a look at these two basic growth strategies and consider their pluses and minuses.