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Destinations, Dreams and Dogs - International adventure with a fast-track family (& dogs) of Old World values, adopting the Russian-Italian-American good life on the go…!

Hooked on The Profit

THE PROFIT -- Pictured: Marcus Lemonis -- (Photo by: Virginia Sherwood/NBC)

THE PROFIT — Pictured: Marcus Lemonis — (Photo by: Virginia Sherwood/NBC)

I don’t watch much TV. If I watch any, it’s usually very late at night. Happily, CNBC’s hit series, “The Profit” airs when I happen to be working on the computer at odd hours.

I love it.

Marcus Lemonis, a multi-millionaire who started out as an adoptee from Lebanon, turns around small businesses with his own money. And with his money comes his rules.

With already $23 million invested, he transforms companies on the verge of collapse. Some are already imploding, frequently from the fact that they are family-owned and operated. He tells them bluntly, “I’m not Oprah” when instructing them to move beyond their squabbles, asking why they can’t seem to get along with family members whom they once loved. Others, he informs directly along with employees, “I’m 100% in charge”, even if his share of their company is just 40% of the whole pie.

Obviously, if he was called-in to invest, say, $500,000 to see something turn around, the-profit-cnbc-tv-showadditional issues existed. Money was not the only problem. By partnering with the companies, Lemonis has no qualms about hiring, firing, changing inventory or menus or suppliers. He examines profit ratios, marketing plans and relatives who are hangers-on. If all of the long-time employees are willing to take a cut in their wages to result in a profitable business, the owners had better not be rolling into the office or store at noon in a luxury car.

I love it. Occasionally, the news of just how bad the business is, how much it is in trouble, shocks Lemonis. He tells the owners he’s been misled and the deal may be off. It makes you wonder if the trainwreck can get any worse.

Theprofit_KO_020The Profit’s formula for success is simple enough: People. Process. Product. At least two out of three components need to be in sync and relevant with people at the head of the list, a smooth machine to get that business up and running in the black again. The king of turnarounds is firm, but kind, and truly wants to see small businesses thrive, because when they do, he profits, as well.

For me, it’s a nice message in this economy and a fun show that tells it like it is in order to provoke company transformations.

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