Marcus Lemonis knows a successful businessperson when he sees one. He is currently the chairman and CEO of Camping World and Good Sam Enterprises and host of The Profit, a CNBC show that helps save small businesses. (He also has a new show on Yahoo Finance called The Biz Fix).
So what sets those with success apart from others? Lemonis shared his top three tips with The Daily Ticker:
1. Wake up early
Every successful businessperson Lemonis knows wakes up early in the morning. “They’re the first person to show up to their business and the last to leave,” he says. Lemonis himself wakes up at 5am every morning. Morning people have been found to be more proactive and productive.
2. Know your numbers
Marcus says entrepreneurs need to understand how to read and prepare common financial statements. “They’re making decisions today and tomorrow about their business but they need to have facts and figures to back up their decision making,” says Lemonis. “If you ask somebody if they know their numbers and they don’t know them...[the person] losses credibility.”
3. Recognize that the employees and business are bigger than you
“In my primary company, Camping World, we have 7,000 employees and I’m the least important person there,” says Lemonis. “I’m not talking to the customers, I’m not talking to the vendors. At the end of the day I don’t think business owners understand, I need cast and I need people.”
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- Marcus Lemonis