On the show The Profit the host, Marcus Lemonis, talks about people, product, and process being the most important aspects to any business.
So when the 2014 premiere episode actually featured my close friends The Goureau’s and their business Courage b, so it was a great time to write about my thoughts on the show. I am a huge fan of The Profit and have been watching since the beginning. There is something about going to a struggling business and turning it around that appeals to me and feels much better than typical reality tv.
I could not be more proud of Noemie, Stephanie, and Nick for what they have built, and for going on reality tv with all the details. Courage b has been a growing brand since they decided to expand from the first original store in NYC that I went to often in the afternoons after high school. They have developed a brand, built a great team, and streamlined their entire operation and created some great products. The business was ready for change and Marcus and co. came in to completely redesign the core products, the look and feel, and streamline operations.
Marcus talks about these key aspects of any business and I think Courage b definitely had the people, but needed help in product and process. Making these sweeping changes is no easy feat, but I think they pulled it off and the stores and products look better than ever.
As an early stage advisor/investor it was interesting to see the similarities between the technology companies I typically work with to the physical retail store business that I know little about. Whenever I meet with a team working on apparel/fashion I always assume I can’t be helpful. What Marcus shows is that the same principles can apply to almost any business and the fundamentals are what matter most. Maybe next time I won’t dismiss businesses in categories I know little about as its clear the problems/issues exist regardless.
Best of luck to the entire Courage b family and to my friends Noemie, Stephanie, and Nick
Be sure to visit their new stores!