Expert Advice from Marcus Lemonis for Your Business

You may recognize Marcus Lemonis as the host of CNBC’s The Profit. His new found fame and success of the show is not an elaborate, fabricated Hollywood facade. Marcus is the real deal, his biggest success is as the chairman and CEO of Camping World, the nation’s largest RV and outdoor retailer, and Good Sam, the world’s largest RV owner’s organization. Lemonis now leads nearly 7,000 employees in over 100 U.S. cities, and recorded close to $3 billion in sales in 2014. The path to success is not always easy and how you overcome adversity shows the true test of character.

If you want to get somebody interested, you put money on the table. You don’t go in there and tell them how smart you are or impress them by telling them what your credentials are. You go in there and stand side by side and put your money up.” – Marcus Lemonis

On his show, The Profit, Marcus appears — like a business prophet, you get it — to help assist struggling small businesses using his famous 3 P’s principle (People, Process, and Product). He puts his own money on the line, puts himself 100% in charge and redirects the course of the business.

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What can be most appreciated about his show is the level of transparency provided. Marcus does not have or portray a God-like ability to turn any business from zero to hero and sometimes, even on the show, walks out on a deal. He shows you everything, the good, the bad, and even highlighted his legal debacle with one of the businesses featured on his show, A. Stein Meats. Beyond just being a adviser, Marcus is an investor. Investing his own money to help failing small businesses is not a charity, Marcus does this to make a profit.

His advice for aspiring entrepreneurs is simple: stay focused, work hard, know your numbers, and be disciplined. Marcus offers a lot of useful advice, sometimes very brash and to the point, a sort of simplicity that becomes lost with many entrepreneurs. You may never find yourself lucky enough to share a business with Marcus, however, you can learn from the advice Marcus has offered to other businesses.

Do your best to absorb these quotes and apply them to your own ventures:

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A successful business owner subscribes to one theory: They show up first, and they leave last

Control your cash. Stick to your core business. Know your numbers.”

I believe in people, process, and product, but people are the most important thing

Performance is the best way to shut people up

Surround yourself with people who are smarter than you

I feel like my whole life is kind of a vacation. It’s hard work but I enjoy it

If you’re not evolving, you’re dying

Every business in America that is successful today started as an idea in someone’s garage.”

Don’t compromise who you are.

People will work for recognition and opportunity more than they’ll work for anything else.”

Things are always going to go wrong. People make mistakes. I know I do. It’s how you resolve it that matters most. Listen, be open to criticism, resolve it with speed and empathy, and take responsibility.”

“People respect you more if they get the truth as opposed to a bunch of fluff and then things change later.”

When you shake somebody’s hand, it’s got to mean something.”

At the end of the day, the numbers don’t lie.

Confusing your customers is an absolute guarantee that you will lose money.”

If you don’t have emotion and you don’t have passion, then you shouldn’t be in business; because money is a byproduct, not the purpose.”

There is a common theme amongst successful people and put simply, there is nothing lazy about their approach. They have a system, they follow that system, and they know the value of their work or lack thereof. While I could ramble on ad nauseam about the character of a successful person, I personally just do my best to heed their advice and work to reconstruct myself as a better person. Following the advice from people who have proven themselves, like Marcus Lemonis, is how you’re able to better yourself.

There is no telling where life will take you or your business. If you do not step forward, you will always be in the same place. One day, who knows, you could be sitting across the table from Marcus when he says to you, “I’m going to make you a millionaire, but you have to trust the process.”

Marcus now returns with new episodes of The Profit for a third season on Tuesday, May 12th at 10pm ET/PT.

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