American - Businessman | November 16, 1973 -
The likelihood of success drops dramatically when you expand, especially in the services business. And there's a lot of capital that goes into opening another office.
Marcus Lemonis
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Put no more than three messages on a lemonade stand. You have to describe what your product is, why it's the best, and how much it is. Don't be drawing turtles and flowers and footballs all over it, distracting people. Keep it clean.
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People are the core of every business. Businesses are based on relationships, and relationships are based on people. I would go to an average restaurant run by amazing people over an outstanding restaurant run by awful people.
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I don't know if people consciously get in the way of their own success. In fairness, people have a lot of pride, and they fall back on what they know to be safe and correct. Anybody, including me, struggles with change.
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Working and being involved in multiple businesses and fixing things has almost turned into an addiction, but I can't seem to want to change it.
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I'm really not a great businessperson. I understand business, and I understand numbers, but I think what I understand more than that is people... Ultimately, I think businesses fail and people fail because they don't have their act together.
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I'm not a seller. I'm a holder.
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The most disappointing businesses, for me, are the ones where the people flat-out lie. I had one in Queens where I gave them a couple hundred thousand dollars and they started spending it on themselves.
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Small businesses are a risky proposition, and most celebrities want a home run.
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The weirdest place someone has asked me for advice was at a party where there were a lot of A-list celebrities and super-wealthy people. There were people in the middle of mingling asking for investment advice, and I'm like, 'Hey, I'm just here to dance. I'm here to have fun!'
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Usually, you can figure out where a person's mistakes came from if you ask them the genesis of their thought process: 'Why did you do it this way?' As opposed to telling them they did it the wrong way. Understanding their thought process will ultimately help you be able to communicate with them and navigate around them.
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I regret the Pro Fit investment because I didn't know that I was dealing with people who were more concerned about the exposure than fixing their business.
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