The Biz Fix

  • Lemonis: When selling Crumbs isn’t enough, diversify!

    Jeanine Ibrahim at The Biz Fix2 yrs ago

    For some entrepreneurs, the best education comes from the real world—by making mistakes, learning from them and by seeking advice from business owners who’ve failed and succeeded before them.  A good candidate to learn from is Marcus Lemonis of CNBC’s “The Profit.” The CEO of Camping World and Good Sam, he has his hands in more than 100 businesses, and he’s planning to add another one—Crumbs Bake Shop, a once-popular cupcake chain that went into bankruptcy in early July. He dispenses advice every day on social media and via e-mail. Friday on “The Biz Fix,” he’s answering some of the most popular questions.  What’s a good type of business to invest in and why?  Good investment opportunities include businesses with relatable products and services that go beyond fads to possibly last for generations. 

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  • Downward dog your way to thousands of new clients

    Hakimah Shah at The Biz Fix2 yrs ago

    The Julie Wilcox Method is an online, subscription-based program that integrates yoga, fitness and food.

    Owner and namesake Julie Wilcox founded it in January after eight years as a yoga instructor. It hasn’t been in business long enough to be profitable, but she hoped to change that by signing up large companies and their employees.

    “My biggest hurdle right now is to land some of the bigger fish, some of the bigger companies with thousands and thousands of clients,” she said. “I haven't nailed those yet.”

    Marcus Lemonis of CNBC’s “The Profit” said that in order for her to land these kinds of accounts, she would have to make some major sacrifices.

    (Related: De Niro family adds coffee making to repertoire)

    “The first thing I would do is find one or two companies, and I would make it so affordable to them, just to get somebody in the till,” he said. “It's going to be painful for you, because you're going to feel like, ‘I'm worth more than this.’ I think you have to get that out of your mind and say, ‘I'm just getting my foot in the door.’'

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