Marcus Lemonis is a Lebanese-born American businessman, television personality, philanthropist, and also a politician! You’ve probably seen him on the hit TV series, ‘The Profit’. So, if you’re looking for insight and encouragement on your entrepreneurial journey, you’ve come to the right place. This episode with Roland Frasier will deliver just that.
Lemonis shares his thoughts on post-2020 business, partnerships, working with investors, and more.
“If you’re not capable of thinking differently about people, you probably shouldn’t be a business leader” – Marcus Lemonis.
Did You Know
March is a ‘Power month’ for Business Lunch With Roland Frasier. Why? Because we’re celebrating 250 episodes and a whole ton of downloads! So, make sure you go back and listen to our ‘power episodes’ with business Titans Sir Richard Branson, Arnold Schwarzenegger, and Sara Blakely.
“Don’t try to tell a fictional story about yourself to other people. Instead, be your true self, and convey that to others”. Lemonis.
Marcus Lemonis’s Advice For Working With Investors And Partners
- If you’re going to partner with someone, make sure they bring capital, expertise, or contacts. Lemonis considers money to be the least important.
- Never do a 50/50 Deal.
“Either be the minority holder because you trust the other person to take the lead and believe in them, or be the majority holder who drives the business.” Lemonis
The Three P’s To Evaluate In A Business
(And why this universal framework helps Entrepreneurs)
- Product: You want a real-time, relevant product that adapts and changes. It needs to be driven by the market and not your emotion.
- Process (How you develop the idea, test it, deliver it to customers, and continue to improve on it).
- People: It’s important to remember that people work with you, not for you. Collaborative and thoughtful as a leader.
Plus, Listen For
- Why he is attracted to ‘Turnarounds’ and businesses that are ‘broken’.
- When to walk away and cut your losses (and why he sticks with people longer).
- Why he’s sometimes nicknamed ‘the Mayor’
“You can change the world more as a business leader than you can as a politician” – Marcus Lemonis.
- The fastest way to lose a client or potential acquirer of your business.
- What to expect (and accept) if you choose to work with family and friends.
- Why you must have gender and racial diversity in your business (and it’s not just to be politely correct).
And more! Thank you for listening.
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Who Is Roland Frasier
As the Co-founder or principal of 5 different Inc, Magazine’s fastest-growing companies (e-commerce, e-learning, SaaS + real estate), Roland is a serial entrepreneur who has built or sold over 30 businesses with adjusted sales ranging from $3 million to just under $4 billion. He’s a mentor and investor and an excellent podcaster too! Read more about Roland here.
Through his Website
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