How to Buy a Business
Marcus Lemonis is hiring people to help him expand his empire.
To quote Marcus:
With the growth of my portfolio of companies I’m always looking for great people. Please send resumes to email@example.com
Since we’re on the topic of Wolf of Wall Street, I’d thought I’d make another recommendation.
Let me ask you a question first. Do you enjoy horror or science fiction stories where an alien creature attaches itself to the victim and refuses to let go? Yeah, me too! Then you’ll love this book.
30 for 30: Big Shot
One of the recent Tycoon Playbook enrollees tipped me off to this program last week. If you’re fascinated by deal-making and enjoy good caper flicks as well, you should get a kick out of this.
Pretend that it’s 1996 and you’re a 32-year-old businessman who’s just discovered that the once mighty New York Islanders are up for sale. The price tag is $165 million. It’s been your dream ever since you were a boy to one day own a major sports franchise. Nothing says that you have made it in America louder than ownership of an NFL, NHL, MLB, or NBA team. The only problem is that your net worth is just south of $200,000 which means that, in theory at least, you shouldn’t have a hope in hell of being taken seriously by anyone.
So what do you do? Most people would pass on the opportunity because an exercise in futility is just that, an exercise in futility. So why embarrass yourself?
Top Business Lessons from The Profit’s Marcus Lemonis
Marcus Lemonis may just be the best thing that’s happened to American entrepreneurship in a decade or more. I say this not only because he’s an inspirational rags-to-riches success story, but because he is showing us all how to put the fun back into business after almost two decades of Internet mania.
Indeed one could make the case that the Internet is guilty of two transgressions against business. First, it’s made building a business seem boring, relatively speaking, with its emphasis on coding and SEO maneuvering around Google. If your business career started before the World Wide Web arrived, you’ll know what I mean. Second, the Internet has sucked a substantial portion of America’s best and brightest talent away from producing things that people actually need or want into building bullshit “online platforms” whose sole purpose is to strip-mine your personal information and sell it to advertisers.
If it’s free, you’re the product, Poindexter.
Call me old school, but I will take an Elon Musk or Marcus Lemonis who build real businesses any day over a Mark Zuckerberg and clones who merely build glorified phpBB boards for the purpose of serving you up to advertisers.
Brinkmanship: the art or practice of pushing a dangerous situation or confrontation to the limit of safety especially to force a desired outcome.
One of the stories that best exemplifies how tycoons can think differently is about Fred Smith realizing that FedEx had run out of cash and would have to stop flying. Co-founder, Roger Frock, tells the story this way in his history of the company Changing How The World Does Business. On page 101, Frock writes: