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Here's Why You Should Study Tycoons
Before you can attempt something truly big, you will need the courage.
Before you can have the courage, you will need the knowledge.
Do you have what it takes to succeed at the tycoon level?
Here are three reasons why any serious entrepreneur needs to study tycoons:
- Tycoons are creative problem-solvers. While most people give up on their goals after hitting an obstacle or having a set-back, tycoons almost always find a way to get the deal done and keep their momentum rolling forward. Where there's a will there's most certainly a way.
- They are unstoppable. They are real life "Terminators." Friedrich Nietzsche is famous for having written about the "will to power," which he believed to be the primary driving force in humans. Specifically, it's the ambition and drive for achievement, recognition, and the highest possible position in life. Tycoons tend to be the best examples of people with this type of drive.
- And last but not least, they are builders. They build companies, edifices, and empires. The best ones leave behind a legacy as well.
The second season of SHO's Billions has begun. The first season was very good and the second looks promising as well.
Here's the trailer for new season.
Marcus Meets Murchison-Hume
In 2008 Max Kater founded Los Angeles-based Murchison-Hume a maker of non-toxic cleaning products. She was motivated by a desire to make cleaning products which her son wouldn't be allergic to.
As is normally the case with companies appearing on The Profit, Murchison-Hume is in crisis. The main reason for this is that Max creates products for herself not her market. Her husband, Peter, who has a day job is subsidizing the business with his income.
Shortly after arriving at the company Marcus mentions that he finds the brand name an odd choice for a cleaning product line. It really does sound like a law firm. Continue reading
Marcus Saves Chicago's Honest Foods
This was a very good episode if you're more into the business lessons than the drama.
The Honest Foods catering company was launched in 1997 with three thousand dollars by Tad Devlin. Tad just has a natural flair for cooking and his food looks mouth-wateringly tasty. Honest Foods then grew into a company serving the film and television production business in Chicago. In recent months the its sales have dropped 30% and Tad is deeply worried. Hence the call to Marcus. Unfortunately the reason for the drop is never looked into nor explained. It would have been interesting to know why this is the case.
In this fourth episode of the fourth season Marcus responds to an SOS call from Flex Watches of Los Angeles.
Flex Watches was launched in 2010 by Trevor Jones and Travis Lubinsky who are childhood friends. The company is based around the schtick that it donates a percentage of its revenues to charitable causes. As for the product line itself, it's a mile wide and consists mostly of cheaply priced models. In 2012 the company hit one million in revenues but sales have been plummeting ever since and the company is now stuck with half a million in non-moving inventory.
Marcus Lemonis and the crazy Soup Market guy of Milwaukee, Wisconsin.
This episode was a bit more interesting in a business sense than the first two of the fourth season, and I will explain why in a moment, but first things first.
The Soup Market was launched by Dave Jurena in 2004 with a 50/50 business partner who died suddenly in 2015. The other fellow was the business brains behind the venture while Dave was and remains the cook.
The Milwaukee based chain sells what Marcus calls "heavy soups" due to their unhealthy doses of calories and sodium. As the heavy-set Dave explains, he doesn't create soups for the "bikini crowd."