Billionaire Growth Strategies
Marcus Lemonis and Precise Graphix
Precise Graphix is a Manaus, Pennsylvania company doing graphics and millwork for business clients. It’s owned by two brothers, Keith and Dean, who have been running it for 12 years.
Marcus Lemonis Develops a Growth Strategy for Grafton Furniture
Grafton is a third generation family-owned furniture maker launched in 1964. The company is located in Marcus’s home town of Miami. Unfortunately it’s been suffering since the recession of 2008 and if Marcus doesn’t turn it around it may fold.
Marcus presented some interesting stats on family-owned businesses:
Marcus Lemonis’s Growth Strategy for Fuel Foods
During the first few minutes it felt as if this episode might be interesting from a business lessons standpoint. Unfortunately it didn’t pan out that way.
Fuel Foods Florida supposedly produces nutritional ready-made meals for people too busy to cook. It then delivers them twice weekly to not only locals but customers across the USA using FedEx. Yes, even customers a mile away get their meals delivered by FedEx. (This fact made my jaw drop.) One employee had already lost 150 pounds and planned to take off even more. This point grabbed Marcus’s attention as he had suffered from an eating disorder as a child.
Business growth is not an option you can afford to pass on. In today’s economy a small business either masters growth strategies or it dies. This is why the vast majority of startups are out of business within five years.
Here we review the six most common small business growth strategies an entrepreneur can pick from. You only need one but the more you have the better you and your business will do.
Marcus Formulates a Growth Strategy for Standard Burger
In this week’s episode our hero Marcus travels to Staten Island to visit Standard Burger after almost two years of pleading by Sammy who is one of the owners. There he finds a single location burger joint that’s serving mediocre food and losing $5K to $6K per month.
The People
Too many cooks spoil the broth.
The biggest problem holding back Standard Burger becomes evident immediately. The business simply has too many owners none of whom have restaurant experience. All of them have day jobs elsewhere and behave like absentee landlords. To Marcus’s shock no one has responsibility for the day-to-day operations of the business. When he asks an employee who she’d call in the event of a fire, she doesn’t have an answer.
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