One of my favorite TV shows, The Profit, is hosted by Marcus Lemonis. This show is filled with drama…reality-show style, so most viewers probably watch it for the entertainment value. And entertain, it does.
The show has plenty of intrigue and conflict as Marcus attempts to rescue failing businesses, one per episode. He applies his simple yet compelling Three-P philosophy. People, Process and Product. If two of the three are in good shape, and the deficiency is determined to be repairable, Marcus Lemonis will invest hard cash, and temporarily take 100% control, in order to get the failing company back on the right track to success.
There is one element to this show that I appreciate and always learn from…the formal quotes placed strategically throughout each episode. They pertain to what is occurring in the show at the time they are stated, but they also deliver good wisdom. The quotes are from Marcus Lemonis himself, who is an expert in business. He has a very respectable background, education, and track-record, so I consider his quotes authoritative. They are very meaningful and inspiring.
To provide you with some good insight, I will list some of the quotes and provide valuable information supporting each one. This blog post is the first of a series, where each one will contain quotes from an individual episode. That way, you may watch it and put the quotes into their original context if you desire.
Marcus Lemonis Quotes – Season 2, Episode 16
“In order to tell a story effectively to your customer, you need to be clear and give them options, but you have to do it in a way that’s easy to follow.”
Don’t confuse your customers
When Marcus Lemonis entered the establishment, many, many examples of their products were completely covering the walls. Large and small pieces, and groups of pieces, all over. They were somewhat organized but as a whole, the display was very busy and confusing. How can a customer make a decision when they are bombarded with hundreds of examples? They usually can’t.
Plan your space wisely, and display your products in a simple and clear way. You don’t need to display everything you do or every example of your products all at once. It only takes three seconds for customers to look around after they enter, so don’t overwhelm them. Display good examples in a way that the customer can easily follow. Entice them using strategic, well thought-out placement.
Telling a story starts with an enticing beginning. You want to lure them in, and intrigue them, right from the start. Then, let your carefully written plot unfold in front of their eyes, a little bit at a time. Creativity is very important here, but also an educated strategic plan, based on how people, your target audience, will perceive things.
Use space planning software or solutions to optimize product placement in your retail space for higher profits. JustEnough space planning software is one example. Make sure you track statistics after setting up your display. Make positive changes based on tracked results in order to maximize your space. It’s not easy, but that is why you will outshine your competition. Take the time and do the hard work in order to have a clear advantage!
“Building a brand in any business is the key to success, and building that brand around the owner is not a bad idea as long as that owner is likable and relatable.”
The owner of the company that Marcus Lemonis visited put his name and smiling face on the signage. It was well designed, and even witty and quirky…in a good way. The problem… The owner was abrasive, short-tempered, and had some real personality issues like being a know-it-all. Also, the owner had established a bad reputation in the small town where he operated. I can only imagine what people thought when they looked at his smiling face on the sign.
The golden rule
The primary lesson to learn from this quote based on the context of the show, in my opinion, is to treat your customers well…treat your employees and your vendors well…treat everyone involved with your business as you would wish to be treated. Then, when you are able to make everyone tied to your business happy, and if you are a particularly likable and relatable person, put your face on your sign with pride! And, the wittier and quirkier your are the better!
Branding is the process of creating deep connections and forming an emotional relationship with your customers. This is not easy and it takes much time. Check out: Gaining Customer Loyalty for an in-depth dive into what it really takes to make customers stick with you.
“I see a customer walk in, I see potential business, and Anthony (the struggling business owner) is not doing anything to hustle the sale”
Are you an entrepreneur?
If you are in business, you ARE a sales person. If you can not sell, can you be an entrepreneur? Just TRY to answer yes to that one…It doesn’t work. Even if you want a good sales person to sell for you, you need to convince them to sell YOUR product or service. Convince. That is what selling is all about. Customers don’t pay unless they are convinced.
Unless you have a large established brand and good marketing in place to keep customers flowing in, a walk-in is like a win in itself. Hundreds or thousands of people will see your ad or sign before one actually stops by. Don’t miss out!
Without smothering your customers or scaring them away, you need to hustle. Get on it. Do what it takes to get them in front of a product they may want to buy, and then stay with them until you close the deal. Bend over backwards. Go above and beyond. Make your customer see that you really care about them and their needs, and that you truly wish to meet those needs with outstanding products and services.
“It’s also beneficial that the sales presentation as the central focus is a starting point”
Keep their attention
As I stated previously: Telling a story starts with an enticing beginning. Once your customer is enticed, keep the presentation in front of them as you progress through your selling process. Don’t allow distractions to occur. Whether from the presentation itself, or the environment you are presenting in. Don’t let your customer lose focus until you are able to close the deal.
This is my first blog post regarding a TV show episode. I hope you enjoyed it. Being that the Marcus Lemonis quotes from The Profit are so well conceived, I will continue to publish more about them in this blog series. I look forward to publishing the next one. Expect it soon and thanks for reading!
Thank you for reading:
Marcus Lemonis Quotes in The Profit S2:16
Subscribe below and receive:
GET YOUR FREE COPY