Marcus Lemonis gives advice for CEOs during COVID-19

Marcus Lemonis gives advice for CEOs during COVID-19

By: Sara Borlaug, Marketing Manager

I had to realize that humility was going to be my secret sauce.

“I had to realize that humility was going to be my secret sauce.”

A couple of weeks ago, I was able to be in on an incredible interview through Technology Marketing Toolkit, where Robin Robins interviewed Marcus Lemonis to gain some insight on the economy, on businesses and on marketing during this global pandemic. Marcus is a multi- entrepreneur, CEO of Camping World and is a television personality on CNBC’s series The Profit.I was immediately inspired by Marcus’ genuine and generous spirit. He is a wealth of information about the business world and economics. He openhandedly shared this with the audience, which was made up mostly of managed services providers across the nation gathered at this virtual marketing conference.

We were all wondering how Marcus Lemonis got to where he is today and how he defines success. His story begins with struggle and he shared a little bit about feeling that he was not on a level playing field with others around him, whether they were richer, better looking, or more talented. One thing that drove Marcus to success was to build his business sense up so that he was using his strengths – working with numbers and working with people – to pull himself up to the level that he perceived other successful people to already be at.

“We all have to realize we have something to learn from one another.”

This is something we can all relate to. I know that personally, changing careers from teaching to marketing, there was a transition period where I was extremely intimidated to pick up the phone and ask to speak to the CEO of a company about our IT services. I’d had eleven years of experience speaking in front of middle school students, but had no idea how to address c-level executives, let alone ask them to drop their current IT guy and trust us with the technology in their business. There are many times when I have walked into a room at a networking event, trade show, conference or seminar and felt unworthy to share the floor with those who were clearly more successful than I am and feel so far below their caliber and ability. It took me years to realize that all these businesspeople I was mingling with are just imperfect people, all developing our craft and growing in our profession. We are all at different stages in our journey. Marcus Lemonis offered a great point that I could not see when we first started Capstone IT in Florida. I thought I was supposed to act like I already knew everything about marketing and sales, but Marcus says, “We all have to realize we have something to learn from one another.” Whenever I feel intimidated by the professionals around me, I am going to remind myself of this priceless advice.

“What is actually the definition of success in business?”

Marcus defines a successful business as one that truly understands its market, responsible stewards in the community, create a workplace environment that allows other people to thrive and grow. If businesses have all these pieces, they will have staying power during this global pandemic.

Marcus defines a successful business owner as measuring success by the success of the people he works with and employs. If they are growing up, then he is growing as well.

Marcus highlights the following advice for CEOs:

  1. Practice patience with a plan – Growth takes time and you must have goals set over time.
  2. Invest in your business – CEOs should continually invest back into the business.
  3. The CEO acts as the air traffic controller – The business owner is not supposed to run the business but hire those that can run the business – smarter people in their particular departments - and then guide those employees.
  4. Think twice about acquisitions right now – but seek out good talent from competitors.
  5. DOUBLE DOWN on your marketing –“Press on the gas as fast as you can.”

As managed services providers, Marcus encourages us to be confident that the services we provide are the only way that all other industries are going to survive and thrive. To learn more about what managed services can do for your business and how Capstone IT can support your team during COVID-19, working remotely and in the office after the global pandemic, visit Capstone IT Services.