If you ever had the idea to start a business or work in a startup, there are a couple of TV shows you have either heard of or came across when you weren’t watching Grey’s Anatomy, Empire, or the Have’s and the Have Not’s. Those shows are Shark Tank, the Profit, and my favorite Blue Collar Millionaires. All of these shows air on CNBC at different times and I have my DVR set to record them.
For a while, I liked Shark Tank in that the show tried to capture the experience of that budding entrepreneur or team of entrepreneurs coming into the shark tank to get an investment to help their business grow. I was fond of the show at the beginning because I felt that it was bringing some exposure to these small business owners that needed capital to keep their businesses and dreams going.
Then there is The Profit with Marcus Lemonis. I really like his show because the premise was that he would be invited to help a struggling business and he would invest his own money in it if he were allowed to be 100% in charge and received a piece of equity in the business. I enjoyed how he would totally demolish certain businesses to help them have a foundation to be profitable and how he would make hard decisions in order to put the company on the right track toward success. The main reason I love watching this show is because Marcus would explain why the business was a good investment and would teach you certain business concepts throughout the show – so you would learn about breaking even, inventory turns, assets, and cash flow while he was rehabilitating the business back to health.
Even after watching that great show, I now have my favorite show of all time on CNBC. This show is called Blue Collar Millionaires and is currently in its second season. The premise of this show is that the founders and CEOs of the companies featured are plain, everyday folks that found their passion and love in some peculiar places. Most of them didn’t go to college or grad school, but they started a business with what they knew and grew that business until it was big enough to give the owner a very nice living. Some of the companies provide services like demolition, courier services, flooring, roofing, and alligator catching. The catch in each company and founder was that they either vertically integrated their company or found adjacencies to their company that they acquired or partnered with to grow their business into multimillion-dollar enterprises.
I think my favorite example from the show is a guy that started a towing business. For the first few years, he ran his tow truck business and just towed as many cars as he could. Then he got the idea to do something with the cars that he towed that no one claimed. He started an auction on the weekends and made more money. Then he also bought a couple of warehouses to hold the cars he towed and didn’t sell. He turned around and then leased the storage space in those warehouses – and made more money. I thought the idea to expand your business into adjacent and vertical opportunities was brilliant and made these entrepreneurs seem like they were ahead of their time.
Oh well, it is time to go watch my show. What are some of your favorite shows to watch?