Why Marcus Lemonis’ Advice Is Great For Your Small Business

As you grow your small business online or scale your brick-and mortar business, there comes a time to take stock and consider how you can streamline your working process. As famous entrepreneur Marcus Lemonis, of CNBC’s TV Show “The Profit” puts it, all businesses have to learn how to implement the “3Ps” of business, namely “People, Product, and Process”. In addition, as you will see below, he recently added the 4th ‘P”, that being having “Passion” for what you do…

In this post we’ll examine what Marcus’s advice can mean for you and the success of your business.

People

No matter how good an entrepreneur you are, your business is only as good as the people who work for it. If they are motivated, given proper training, and you communicate properly you’ll properly be asking yourself “should I be  looking for work instruction software?”. The answer that Marcus would give is undoubtedly “Yes!”

If you streamline your ability to seamlessly create, send and monitor instructions to your employees, you will quickly be able to monitor data that will enable you to oversee and improve workflows and the status of jobs. All this without creating mounds of paper memos and overflowing filing cabinets. 

Your employees will thank you for helping them to understand what is expected of them, being able to raise questions and knowing what is expected of them. happy people make happy and more productive employees

Product

The second limb of Marcus’ advice is that your product should convey the highest quality and be constructed to most exacting standards, whether you are selling to consumers, or to other businesses, the same holds true.

Your business reputation rests on the accuracy of what your product represents. Your business might be providing accurately constructed machine components, have a vitamin business or sell food products – whatever the products are, are it is essential that they are measured and weighed accurately. If you take a look at https://www.johnsonscale.com/, you will see how product measurement is such an important aspect for your business products of all types, and how accurate measurements of everything from size, weight, force and torque can mean the difference between a successful product and a failure.

If you can provide certified measurements for your products, you will enhance your reputation and trust among your customer base. Trust equates to repeat business and repeat orders – a recipe for more profit.

Process

The customer journey through your business can be complicated. It takes time, money, effort and nuance to generate customer leads, whether you are an online business or brick-and mortar.

There are very successful businesses who undertake successful advertising campaigns, generate customer traffic to their website, nurture the customer so well as to become a loyal ambassador for the brand.

A win…your customer is converted, they decide to head towards your online shopping cart but where many businesses fail is to make the purchase frictionless and secure for the purchaser. If you cannot reassure the customer that you cart is safe, you will lose the sale. And the customer

That’s why Marcus would surely recommend incorporating a 3d secure process in your shopping cart, which is a payer authentication system which provides layers of security protocols that helps to prevent fraud against you, and the customer. It simply redirects the customer to their card providers’ #d secured page where they will enter a pre-arranged password before the transaction is closed – simple and secure!

And Don’t Forget Passion…

We will assume that your passion for your business needs no comment – so back that up with the 3Ps of business and start to set yourself up for success now.

About the Author

Jim Mckenzie is the Founder of Everything For Dads, a Life Coach and the creator of the Dads Stress Buster Program. Find out more abbut Jim and his work here