Todd's Tip: The Best TV Shows for Entrepreneurs
I’m in Silicon Valley right now working with clients on how they can amplify their sales and marketing results leveraging the power video.
As many of you know, I’m an advocate for entrepreneurship and I need some advice from you. I’m also going share a tip on how I keep my business mind sharp.
ADVICE FROM YOU
Do you watch any TV shows that help you sharpen your entrepreneurial tools? If so, please hit me up on LinkedIn or Twitter (@TheToddHartley).
Each week, I watch 3 TV shows that I consider part of my continuing education. In a coming Todd’s Tip episode, I’m going to share my favorite entrepreneur podcasts and blogs. But for today, let’s go mainstream and just talk about TV. Ok?
My wife is my business partner. We watch these shows together to accelerate our learning curve. While watching, we look for a business owner’s “moment of truth". This is the moment when the owner needs to make a major business decision. That’s when we pause the DVR and discuss what we would do in this situation. The more “moments of truth” you and your decision-making team encounter together, the easier and less emotional it becomes to quickly recognize the right decisions. It’s just like exercising a muscle. So, here are the TV shows we use to exercise our entrepreneurial muscles.
THE PROFIT
On CNBC there’s a great show called The Profit, featuring Marcus Lemonis, a self-made billionaire who in each episode invests somewhere between $400,000 and $4 million of his own money. When Marcus invests in a company, he’s 100% in charge of all the business decisions, which includes the people, process and product. That’s where a lot of compelling entrepreneurial lessons surface. Often he’s able to flip the struggling company it into something wildly successful, but that’s not always the case. When Marcus struggles to be successful, it’s usually because the original owners roadblock his path to profitability.
In some episodes, after Marcus invests his own money into a company, he discovers he doesn’t like his new business partner’s ethics. So he gets up and walks away, losing his investment. In the season finale, Marcus will take you back to each company, so you can see where those companies are now and who he is suing in court. MACHO…isn’t it? http://www.cnbcprime.com/the-profit/
CONSUMED
On CNBC they have a great show called Consumed, where you follow 4-5 restaurants as the business owners make crucial decisions on when to expand or how to resuscitate their struggling business. Lots of unnecessarily risky business decisions happen in every episode, so you won’t be bored. http://www.cnbcprime.com/consumed/
SHARK TANK
Of course I have to mention the Shark Tank, which is great for quickly evaluating a business idea, investment opportunities and long-term growth potential. It’s not my favorite business show, but it’s a very good entrepreneurial exercise. My wife and I play our own in-home Shark Tank game, by screaming “In” or “Out” and then explaining why. http://abc.go.com/shows/shark-tank
WIN-WIN!
Here’s where you can benefit. As a business owner, it’s significantly cheaper to learn watching others make mistakes. So, don’t speed past the “moments of truth”. Stop the show, discuss important business decisions with your team and learn from their results. Often, I’m left realizing I should be trusting my team’s advice and guidance more than I do. #ControlFreak!
CONTACT ME
What shows do you watch to keep your business mind sharp? Follow me on Twitter (@TheToddHartley) or connect up on LinkedIn.
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