The Profit on CNBC with Marcus Lemonis is a great show hands, down. Shows like Shark Tank really miss the mark in my opinion based on how degrading and arrogant it gets at times with the “you need us we don’t need you, so sell-out or go home.”
As a viewer lets be clear, what happens on “The Profit” happens every day around the world. The advice that we see on the show is common knowledge at the M.B.A level. Most small business owners are so driven by emotions they purposely avoid seeking help from the very people around them that work in large scale systems and have mastered them.
They fail to comprehend the amount of money that micro, small, medium size investors have sitting on the sideline begging for someone to give them a positive return or good time on their money through an investment vehicle like your business.
You really don’t need high price business coaches to tell you what has already been mapped out and can be found on the internet – business management 101, accounting 101, finance 101, supply chain management 101, marketing 101 human resource management 101 and how to use Google Search 101.
Marcus stands by his principle of People, Process, and Products because it works and is taught around the world in Fortune companies as well as B-schools.
The program and his methods fill a very needed void for growing small business owners just as many other small business development programs that are rolled out each year.
In contrast, Jonyprofit believes in teaching people how to fish, how the game is played at the highest levels, allows people to use their talent and resources to become true entrepreneurs instead of better business managers.
Jonyprofit stands by his principle of Markets, Needs, and Margins, which in my humble opinion is what really drives Mr. Lemonis pursuit of businesses. Perhaps he sees the developed infrastructure and thinks he can repackage and deploy into markets most small business owners never knew existed. “Win-Win-win”
One major reason many small business owners stay trapped by the business is because they spend most of their time sitting at workshops like social media, courting the wrong vendors, chastising good employees and bragging to end-users about how great they are, versus making the time to meet with economic development groups, investment firms, trade association boards, and private equity folks. “when it comes to business and wealth it’s manage or lead”
Small business owners typically come from two camps of thought – There is the 95% that wake up each day saying “I love my business and it’s my passion” with plenty of rhetoric to support that notion and then their is the elite 5% that feel business is a numbers game and it’s all about the “Return on X” be it time, money, talent or equity.
So the next time you tune in to Executive Entrepreneur Hour with Jonyprofit the goal isn’t to help turn your business around “at a price”, the goal is to teach you to compete head to head with Mr. Lemonis!