Marcus Lemonis Top Rules of Business
Updated: Jan 20, 2021
Marcus Lemonis is the host of my favorite show The Profit. He has taught me so much about small business and what I need to do to be successful. In honor of the small business guru, I’d like to share some his top 10 rules of business.
Marcus turns failing small businesses around by focusing on improving the 3 Ps
Here are some of my favorites from his top 10 rules of business.
Rule #1: DON'T BE AN ASS
“That’s really the main take away: how to treat people” Marcus explains the importance of treating your employees right.
Rule #2: MAKE YOUR EMPLOYEES #1
“At the end of the day the customer isn’t number one, the employee is number one. My theory is that if you treat the employee right, then ultimately that employee is going to be the one to interact with the customer and the experience will be better.”
Rule #3: KNOW WHAT YOU DON'T KNOW
“It’s very simple. I know what I’m good at and I know what I’m not good at. And with what I’m not good at, I go find people who are good at it and I make them part of my team. Not all of us possess the skills to do everything. And when you can’t realize it, you will end up with a pile of poo”
Rule #6: BE AUTHENTIC
“People can get confused between telling your story and having it be authentic, and telling your story, and trying to convince people you are being authentic.”
Rule #7: BE TRANSPARENT
“Vulnerability and transparency are two different things. Transparency is I’m going to find out what you’re hiding and the more I sniff that you have something to hide the faster I will find it.”
Marcus Lemonis will always figure out if a business is hiding something suspicious, especially if he gets a chance to dig into your company’s financial statements.”
And of course, this would a bookkeepers favorite quote from Marcus…
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