Marcus Lemonis on Taking Business From Rags to Riches on "The Profit"

Posted on at


The Lab NYC’s Arthur Kade got the chance to sit and talk to Marcus Lemonis of CNBC’s show “The Profit”, where he finds, fixes, and fertile business. Lemonis, formally of the show “Secret Millionaire” invested 2 million dollars of his money into helping small business rebrand, restructure, and recreate, helping them stay in business. Marcus talks to us about the mechanics of making a business profitable. “It’s a very simple process. I look at people, process and product and I keep it extremely elementary, so that the receiver of the information understands when you say our process is broken, you can break it down to them, so in the case of Car Cash, I said to him, the way you buy cars is broken and the fact that you have wholesalers in the middle is broken. If you   dumb it down to the most simplest of terms, one car one transaction, it makes a lot of sense.” He says if you get a good look at the people, process, and product and you like them then you should invest in them. Lemonis also tells us that if you go to a business and you think like the consumer, then you allow your mind to make good decisions. Marcus says that throughout the show you will see a lot of drama but you also will see him fall in love with people and fight for them. Lemonis also tells us about his rags to riches story, saying he was born in an orphanage in Beirut Lebanon, and came to this country at 12 years old, he owned his own lawn business, and had 10 kids working for him, but the lesson for him was 2008-09. Lemonis says he  had to lay of 1,500 employees just to survive, he tells us that he cannot always be sympathetic about laying off workers because it will not help save a business. Marcus tells us that he never goes in with the mindset that he is not going to turn around a business, and that he will do anything it takes for it to survive.



About the author

InTheLab

Producer, Entrepeneur, Founder, Advocate, Filmmaker & Dad w over 25 years of Film & Entertainment industry experience. Managing a collaborative community for startups, entrepreneurs, innovative technology companies, & LabChats. Trying to make a difference at 24 frames per second. Executive Producer of #InTheLab Internet Media Labs builds innovative real-time relevant.…

Subscribe 0
160