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Marcus Lemonis

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Submitted By fremikken
Words 1056
Pages 5
Frederick M. Kennel
Instructor: Chef Chapela
CL410 A (SP16)
13 April 2016
Assignment #1
I. Characteristics of Marcus Lemonis
I chose Marcus Lemonis because of my interest in his TV program “The Profit” on CNBC. What caught my attention was the “handshake deal.” It to me established his character as being a man of his word – truly honest. Next, he founded each new business relationship with “I am 100% in charge.” This represented his commanding leadership. Ultimately, the entire process of his entrepreneurship style is cemented in his “3 Ps” – People, Process, and Product. This formulaic approach translates his passion for helping struggling businesses succeed by helping the entrepreneurs cultivate their people, fine-tune their process, and bring their excellent product/service to market. Marcus has a keen eye for analyzing P&L numbers, minimizing costs, maximizing margins, and offering viable solutions to broken processes. Through his charismatic leadership style, he inspires the owners and employees to rally behind the collaborative process to succeed, which benefits everyone involved – owner, employee, customer, and consequently society.
II. Brief Business History
Marcus graduated from Marquette University in 1995, but decided not return to his family’s very successful car dealerships in the Miami area. Instead, he blazed his way through the ranks of AutoNation during his late twenties to regional manager of 65 stores in 11 states. At the advice from Lee Iacocca, a close family friend, he chose to pioneer a path into the RV industry that did not have a nationally organized structure. He founded Freedom Roads LLC in 2003 and started buying up mom-n-pop dealerships across the nation using the AutoNation blueprint as a guide. By 2005, Crain’s Chicago Business recognized him in their “40 under 40” article with 57 dealerships in his portfolio. In 2006, Camping World Inc. (Marcus as Chairman and CEO) acquired Freedom Roads. In 2007, RV Business Magazine names him “Newsmaker of the Year.” In 2008, Ernst & Young titles him “Entrepreneur of the Year.” Marcus consolidates his portfolio of businesses in 2010 with Good Sam Enterprises, a membership-based company that markets directly to RV enthusiasts. By this time he has over 100 dealerships in 30 states, 650,000 paid subscribers, and 4 million direct-marketing circulation. Overall, this culminated in $2.5 billion in sales in 2013.
III. Marcus, Oprah, and Steve Jobs
Steve Jobs had a simple idea and he wanted others to realize they needed it. It began with the Macintosh and culminated with the iPhone. He was outstanding at creating fanatics for his vision, but he was not the smartest man in the room. But what won out with him was his perseverance. Oprah showed empathy and concern for everyone’s emotional intelligence. She won over the housewives and developed relationships that defied logic with her fan base. They are loyal. Through her care and concern she influences a phenomenal segment of society. She is an expert at TV marketing. This is demonstrated by Oprah’s Book Club. Any author becomes an instant success by making her list. Marcus shares this in common with Steve and Oprah in that he wins people over through his charming charisma. I cannot stop watching everything he produces on TV. I think it is because I believe he is genuine and real. I know Oprah is. I know as well as that the late Steve Jobs inspired me to buy Apple. I converted to Apple late but that is all I own now – 2 Macs, 2 iPhones, 2 iPads, 2 Time Machines, and 2 AppleTVs (all of which are follow on purchases from the original versions). What they all have in common then is charisma.
IV. Marcus’ Uniqueness
Marcus is unique in that he wants others to succeed and risks his money in the process. This may be philanthropic trait that is now evidenced after the success of his RV venture, but I do not believe that is the case. Philanthropy can be manifested without taking financial risk, but Marcus chooses to expand his portfolio by helping struggling businesses succeed. If I were a close friend of Steve Jobs (very isolated/alienated friendships), I would not trust him to do what was right by our relationship. I believe he would sacrifice our relationship for his personal vision. Marcus I would trust. With Oprah I believe she would do what was best for everyone by seeking out a solution that would do the least harm. I do not see tough love there. Marcus delivers tough love on every business deal. It produces greater results when practiced. The two unique characteristics of Marcus are tough love and exposure to financial risk when helping others.
V. Marcus’ Success
Marcus’ success is in knowing the numbers, establishing collaborative relationships, and following through. He has a genuine care for others and enjoys seeing them succeed. I will never forget the 3 “P”s – People, Process, and Product. This would be my mission philosophy if I were to open a business. I believe it to be a truism. Profit is just a measure of how successful you are at perfecting the 3 “P”s.

Works Cited
Bloomberg. Company Overview of FreedomRoads, LLC. Bloomber.com. ©2016 Bloomberg L.P. All Rights Reserved. Web. 12 April 2016. http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=10946756
Bloomberg. Company Overview of Good Sam Enterprises, LLC. Bloomber.com. ©2016 Bloomberg L.P. All Rights Reserved. Web. 12 April 2016. http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=1330331
CNBC. The Profit. CNBC.com. Web. 12 April 2016. http://www.cnbc.com/marcus-lemonis-bio/ Goldenberg, Sherman. Lemonis Recognized with Ernst & Young Award. RVbusiness.com. Web. 12 April 2016. http://www.rvbusiness.com/2008/06/lemonis-recognized-with-ernst-young-award/ Hoover’s Inc. Freedomroads, LLC Company Profile. Hoovers.com. © Hoover's Inc, 2016. All Rights Reserved. Web. 12 April 2016. http://www.hoovers.com/company-information/cs/company-profile.Freedomroads_LLC.bdf18d2a8fa7efdf.html Lemonis, Marcus. About Marcus. Marcuslemonis.com. © marcuslemonis. Web. 12 April 2016. http://www.marcuslemonis.com/pages/about-us
Scheffler, Mark. Focus 40 Under 40 Marcus Lemonis. Chicagobusiness.com. Web. 12 April 2016. http://www.chicagobusiness.com/article/20051117/PAGES/1849/40-under-40-2005 Zap2it. Who is Marcus Lemonis? Zap2it.com. Web. 12 April 2016. http://zap2it.com/2013/07/who-is-marcus-lemonis-1/

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