Marcus Lemonis business quotes are from his show, The Profit. It’s filled with drama, reality-show style. Most people probably watch it just for entertainment. And entertain, it does! The Profit has plenty of intrigue and conflict as he attempts to rescue failing businesses, one business per episode.
Marcus Lemonis applies his simple three-P philosophy – People, Process and Product. If two of the three are in good shape, and the deficiency is repairable, Marcus will invest his own cash to own part of the business. Then, he takes 100% control of the business in order to get it back on track.
Marcus Lemonis business quotes
There’s one element to this show that I really appreciate. I always learn from the Marcus Lemonis business quotes placed strategically throughout each episode. These Marcus Lemonis business quotes pertain to what is occurring in the show at the time they’re stated.
They also deliver good wisdom. They’re from Marcus Lemonis himself. He’s an expert in business with a very respectable background, education, and track-record. I consider these Marcus Lemonis business quotes to be authoritative, meaningful and inspiring.
The list of Lemonis business quotes
To provide you with some of these Marcus Lemonis business quotes, I’ll list some of them. Then I’ll provide valuable information supporting each one.
This blog post is the seventh in a series, where each contains Marcus Lemonis business quotes from an individual episode. Watch the show and put these Marcus Lemonis business quotes into their original context.
The Profit – Season 3, Episode 7
Precise Graphix creates custom design for stores and shops. They’ve been providing signage and decor since 2004. It’s run by two brothers, Dean and Keith, who’ve been paralyzed by a lack of vision. Their debt is high and their equipment is out-dated.
50-50 partners, no leaders
Quote: When you have a situation where there’s 50-50 partners, you also have 50-50 leaders, with no one clearly in charge.
Leadership seems a bit ambiguous at Precise Graphix. Neither of the two brothers have stepped up as a leader. When asked “who’s in charge?” during a walk-around, the employees state their confusion. They don’t have a clear leader.
The need for a clear leader
Quote: Anytime you have employees saying they don’t know who’s in charge, that’s a problem. Typically, people want to be led. And the fact that the employees don’t know who to listen to or who’s in charge leaves them like a rudderless ship.
Quote: Not having a clear leader is a big problem in any business. A lack of leadership provides a lack of clarity. A lack of clarity provides a lack of efficiency. And as efficiency drops, so do the margins – and so does the morale of the workplace. All of that equals less margins and less business.
Quote: In order for this business to succeed, I need to give Kieth and Dean very defined roles. Dean is a guy with 25 years of design experience. So I’m gonna take advantage of that. I want him fully in charge of design. With Kieth, he seems like he has the potential to be a great leader. And I want somebody to oversee the entire operation.
Dean will be in charge of the creative design dept. and Kieth will manage the place, day to day.
Quote: The only way that I can do a deal with these guys is to be sure that their work is great. This isn’t a drum company or a furniture manufacturer or a burger place where I can actually see and feel the product in my hands. And so the only thing I can do is offer up one of my own businesses as kind of the experiment. I mean, this could be a win-win for me, but it also could be a lose-lose.
Quote: At the end of the day, what I wanna see is two things:
- Does Dean have the creative vision to meet my standards?
- Is Kieth really the leader that I’m looking for?
Marcus Lemonis takes them to Camping World, one of his businesses, and introduces them to the local manager there. Marcus trusts his Camping World manager to judge a job he’ll be providing for Precise Graphix. If successful, there are 129 other Camping World locations that may need the same work done. So this test is quite an opportunity.
Marcus gives them three weeks to redesign and install a whole new look, inside the Camping World store. What a challenge!
Details of the job
Quote: I’ve given Precise almost $100,000.00 to do one job at one of my Camping World stores. But to do the job effectively and efficiently, they need to get organized. They have old machines that can be tossed. They have good machines that need to get fixed. I want these guys to win. So I’m gonna level the playing field, and get these guys some state-of-the-art equipment. There’s a lot at stake for everyone here at Precise. So what they need, is a fresh start.
This is a challenge, a test, so Marcus Lemonis reminds them that attention to detail needs to be there. If they fail, they’ll lose Marcus as an investor and a leader.
When Marcus visits them during job execution, he finds a few flaws. He discovers gaps in their communication. So he reminds them again about the importance of attention to detail.
Put to the test
Quote: I made a deal with Kieth and Dean that I would invest $270,000 in Precise Graphix. But I had a contingency. They had to do a job for me. The time has come to see if they did the job at Camping World the right way, and if I’m gonna let them cash the check.
Quote: When I walked into Camping World, I was blown away by the fact that they were able to, in a matter of three weeks, change the entire look and feel of the store. Overall, the creative concepts are really on-point. The RV (mock RV up on the wall), the bike rack – there’s a lot of good stuff. But I have to be honest. I’m a stickler for the details. And there are some things that I’m not happy about.
There were many details which were missed. Blemishes and sloppy installation of some of the display items were noticed by the store manager. Dean didn’t oversee the installation.
Quote: I saw a lot of positives. But my real question is around Dean. Is he the right guy for the job?
Marcus Lemonis is impressed enough to give them one more chance – one more test.
The second chance
Precision Graphix is given another opportunity – another test. Marcus owns a car company called AutoMatch. He asks Dean to design the interior.
Quote: On paper, everything looks great. His ideas are great. The drawings are great. The big question is, is he actually going to be able to execute it – and go from design, to fabrication, to installation, and not have balls get dropped?
Quote: I’ve noticed that the business is ramped up really nicely. Kieth is giving clear direction – on point. This is exactly the kind of leader I’m looking for.
The final test
Quote: Today’s visit at AutoMatch is a very big deal. Because not only does it determine whether I’m going to do the deal with them or not, but the big question for me today is, is Dean going to be my partner, or is he going to be my partner and the head of design?
Quote: What I’m hoping from Dean is that, all of the talent and skill that I know he has, he was able to communicate it to everybody, from fabrication to design. The minute I walk in there, I’m gonna know if he did it or not.
Marcus Lemonis walks in, looks around, and is blown away. They did it right, in every regard. Most importantly, Dean gets to keep his job. What a happy ending!
Previous Marcus Lemonis entrepreneurial quote posts:
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