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Stuff the Capitalist (aka KD) Likes: "The Profit" with Marcus Lemonis

Who am I?  Who cares?  Good questions.  It's my site, so I'm going dig in once in a awhile by telling you more about who I am - via a "Stuff I Like" series.  Nothing too serious, just exploring the micro-niche that resides at the base of all of our lives.  Potshots encouraged in the comments.

One of the things we hear repeatedly as HR pros is that we need to learn the business to really be effective.  If you've struggled with that, I've got a show you should watch - "The Profit" with Marcus Lemonis on CNBC on Tuesday nights, right after Shark Tank with Mark Cuban, et al.

What is "The Profit"?  I'll use this description from Inc. Magazine to describe it to you:

"The Profit is a bit like business turnaround shows Bar Rescue and Restaurant: Impossible, except that Lemonis isn't a consultant, he's an investor. In that way, The Profit is more like Shark Tank, except that Lemonis isn't fielding pitches from wannabes; he's seizing control of family-owned "sick businesses," as he calls them--a car dealership, a flower shop, a candy store--and fixing them.

Invariably, things get messy. "In most cases, the people who apply to get on the show are really in need of more than just financial help," Lemonis says gently, and when he offers more, as he often does--by calling out a bully boss or defending an overworked and underappreciated employee--that's when viewers might see parallels with Dr. Phil or even the Dog Whisperer. A lot can happen in those 40 unscripted minutes."

The thing that makes The Profit must see TV is two-fold.  First, Lemonis is actually writing a check for a minority interest in the busienss, but as part of that investment, expects full control for a period of time, after which he gets to the second part of the equation, evaluating the business from his model of "People, Process and Product."  

Then he starts making changes that the owners were too myopic to see or capitalize on.

Another positive feature of the show - he almost always breaks down the numbers and explores a profit opportunity based on a slight strategic shift, then explains it in a way almost all can understand.

That type of education is what most HR pros need - where's the revenue/profit opportunity?  The good news is that Lemonis almost always tries to promote or lock in the talent inside the small companies that is doing most of the work.  

You'll love the fact he tells the owners they're full of ****.  You'll stay for the promotion of long overlooked talent, but you'll learn something about business along the way.

Check out The Profit on Tuesday nights on CNBC.  Watch the first 2 minutes of one episode from last season below and taste the dysfunction (email subscribers click through for video):

Comments

LouvellaHR

Hands down, my favorite show on television right now. Glad to see I'm in good company!

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