If you’re not capable of thinking differently about people, you probably shouldn’t be a business leader. Rather than running people under the bus, you’ve got to get them on the bus with you. Marcus LemonisMarcus Lemonis is a Lebanese-born. Policy & Safety How YouTube works Test new features NFL Sunday Ticket © 2023 Google LLC Catch all new episodes of 'The Profit' Tuesday, November 5 at 10P ET on CNBC.» Subscribe to CNBC Prime. As Marcus says, “Your job as the CEO of the business is to be the coach. So, be sure you make a realistic assessment of your skills and experience, and start building a great team. On the day of its grand reopening, the business brought in $100,000 in sales and continued to do well enough to later be bought out by a larger dealership. Marcus took a number of steps to turn things around, including renaming the business, reworking the showroom, adjusting the inventory, and probably most importantly, hiring a seasoned automotive professional to manage the operation. By the time the owner asked Marcus for help, the company was about to close its doors. Furthermore, he did not have any experienced team members in place who could show him the ropes. But without experience in the auto dealership industry, his business quickly began losing money. For example, a successful real estate professional decided to open an auto dealership in Illinois because he loved classic cars. Finally, be sure that you are not the cause of a people-related business pitfall. During their 2014 appearance on The Profit, Lemonis agreed to invest 800,000 for a 30 per cent stake in the company.
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