NBC’s “The Profit” Marcus Lemonis Doesn’t Invest in Foreign Made Products!

NBC’s “The Profit” Marcus Lemonis Doesn’t Invest in Foreign Made Products!

After watching so many episodes of Dragon’s Den and Shark Tank, it’s kind of refreshing to see an American entrepreneur (Marcus Lemonis) who doesn’t believe in outsourcing everything to maximize profits:

 

 

Before the end of the video, I have to admit that I was actually rooting for the guys from Bombas Socks. We really do need some innovation in the sock market — am I right?

What do you think? Everyone talks about “American Made”, but when reality hits and they realize a Mexican or overseas outsourcer can make the same product for pennies on the dollar, small-scale entrepreneurs and big corporations alike all seem to go with the latter.

At the same time: It does seem a bit fool-hardy to limit your profit potential in this way.

Many successful businesses would fail if foreign outsourcing wasn’t possible, right?

 

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Tax Man Cracking Down on Cheating Hospitality Workers (Are You Next?)

Tax Man Cracking Down on Cheating Hospitality Workers (Are You Next?)

The last few months here in Canada have seen several in the hospitality industry who earn most of their living on tips getting official letters from the Canada Revenue Agency. These letters state that the CRA believes these folks aren’t being honest about the tips they receive. The government agency believes many have omitted tens of thousands in earnings from their tax forms.

The business world should not be boring. Agreed?

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