Podcast Summary

Making It with Jon Davids

Episode 242: Marcus Lemonis – "I love doing what everyone says is impossible"
Date: January 27, 2026
Host: Jon Davids
Guest: Marcus Lemonis (Businessman, TV Star, Investor, former CEO of Camping World, current CEO of Bed Bath & Beyond)

Overview

In this episode, Jon Davids sits down with renowned entrepreneur and investor Marcus Lemonis. Best known as the long-time CEO of Camping World and TV personality on “The Profit,” Lemonis shares pivotal moments from his journey—from making his first million and overcoming bankruptcy to disrupting the RV industry, becoming a television star, and now taking the helm of Bed Bath & Beyond. The conversation delves deep into the principles that have shaped Lemonis’s career: seizing unconventional opportunities, learning from failure, and bridging scrappy small-business grit with big-corporation strategy.

Key Discussion Points & Insights

1. Making the First Million (00:40 – 02:35)

• Marcus’s first million came from his time at AutoNation, after a political stint in South Florida.
  • “It took me about three or four years... When I broke a million, I knew it.” (Marcus, 00:47)
• The accomplishment, while significant, was less impactful than the lessons learned on sacrifice and respect for money.
  • “I measured it against what I gave up, and I asked myself the question, was it worth it? And in hindsight, it was...” (Marcus, 01:46)
• Emphasis on patience, work ethic, and discouraging the myth of quick riches.

2. Entering & Transforming the RV Industry (03:36 – 11:50)

• Lemonis shifted from the auto business to RVs on the advice of Lee Iacocca.
• Lee Iacocca’s advice: “If you want to make a difference in the world...get out of the auto business and get in the RV business.” (Marcus recounting, 04:13)
• Lee promised Marcus the chance to become CEO, but cautioned that he’d be seen as a disruptor.
• On arrival, Marcus inherited a distressed company: “We have no money in the bank and we're out of compliance with all of our lenders, we’re in default.” (Marcus, 09:12)
• Lee’s tough lesson: “Lesson number one, you should always trust, but verify.” (Marcus, 09:28)
• Marcus described moving in with his parents, taking a pay cut, and learning the art of negotiation and survival amidst crisis.
  • “I had never raised capital before. I had never run a public company before...” (Marcus, 11:19)
• Eventually, Marcus sold off assets, paid off lenders, and learned the importance of a "proper wind down."
• The bankruptcy, surprisingly, set the stage for his next entrepreneurial leap as banks recognized his integrity:
  • “‘Because you did everything you were supposed to do and nobody got hosed... now we know the character of the man.’” (Marcus, 14:33)

3. Rise to TV Stardom and ‘The Profit’ (14:58 – 24:59)

• Motivation: Lemonis craved new challenges beyond Camping World’s daily grind: “I needed to fill my life with other things. I needed to not be so one-dimensional.” (Marcus, 15:21)
• Told by most networks he couldn’t star in his own show; only History Channel and CNBC were receptive.
• Memorable salesmanship: “I fibbed a lot, I said, ‘Oh, there's a lot of networks that want to do this.’ And I only had one.” (Marcus, 17:04)
• Mark Hoffman at CNBC’s persuasion: “If you want to be seen as a credible business guy and not a TV personality, you do it here...” (Marcus recounting, 17:45)
• Initial ratings were dismal—“The first episode got an 11. 11,000.” (Marcus, 18:46)—but the show built buzz and grew to become CNBC’s top-rated primetime series.
• The success of ‘The Profit’ changed his life, gave Camping World significant brand recognition, and opened doors for lucrative partnerships.
  • “I would call not as the Camping World person, I would call as, ‘Hey, I'm this guy on CNBC.’ And everybody would answer the phone.” (Marcus, 23:24)

4. Navigating Fame, Pressure & Reputational Risk (24:02 – 24:59)

• Discussed difference between wealth and celebrity: “The difference between having a lot of money and having a lot of...name...it does get you into doors.”
• With great visibility came exponentially greater expectations and risk.
  • “The pressure to be right... exponentially grew because the reputational risk...would almost defuse or defeat or mitigate or ‘oh, it’s a TV show. He really sucks at that.’” (Marcus, 24:30)

5. Leaving Camping World & Reinventing Bed Bath & Beyond (25:56 – 30:23)

• Left Camping World to allow for evolution and renewal, saying every business needs new perspective.
  • “If I'm going to be the guy telling people how to improve their business...I have to drink my own medicine.” (Marcus, 26:06)
• Marcus joined Bed Bath & Beyond’s board (formerly Overstock), spending over a year crafting a turnaround plan before accepting the CEO role.
• Revealed a bold five-year plan, described as “nuts and overly ambitious” by most observers, but that’s what drives him:
  • “That’s usually when it’s the right time for me to do it, because I love doing what everybody else says is impossible.” (Marcus, 28:26)

6. Vision for Bed Bath & Beyond (28:36 – 30:23)

• Sees Bed Bath & Beyond not as a retailer, but as an “everything home business.”
  • “I didn't come here to sell towels or blenders...I want it to be seen as a technology first, everything, home business second.” (Marcus, 29:04)
• Envisions providing everything related to homeownership, including insurance, warranties, finance, and even selling homes.
  • “If somebody said to me, give it to me in one sentence, I would say, I'm going to do everything I did in the RV space, I’m going to do it in the housing space.” (Marcus, 30:04)

7. Bridging Small Business Hustle & Big Business Strategy (30:23 – 34:02)

• Developed “hustler” mentality via Lee Iacocca and his own family business roots.
• Attributes his ability to lead rollups and be scrappy to navigating family business dynamics and learning to operate with few resources.
• Admits to “faking it till you make it” on TV, using grit and common sense to learn fast.
  • “Anybody that can take a step back and is willing to do the work can go into anybody else's business and be critical and provide solutions...” (Marcus, 32:18)
• The secret: deep engagement with each business, outworking copycats who weren’t willing to put in the hours. Evolution from short-term to all-in involvement.

8. Defining His Superpower (34:02 – 35:07)

• Lemonis claims his true strength lies in identifying talent and extracting the best from people.
  • “I would know what people to recruit and how to get the best version out of them by understanding what motivated them and what they were scared of... That is my superpower.” (Marcus, 34:16)
• Balances relentless work ethic with evolving leadership style: “I'm just like a really crookedy, jaggedy rock that's been smoothed over time. But I’ll still hit you in the head with my rock.” (Marcus, 34:55)

Notable Quotes & Memorable Moments

• On Mentorship & Opportunity:
  “He [Lee Iacocca] said...at some point, you're going to reach a ceiling...You're going to go into an industry that doesn't have a lot of competition, and you're going to...break it.” (Marcus, 04:40)
• On Crisis as Crucible:
  “Try running and growing a business that is in turmoil...I wanted you to learn from the inside out... The rest of it’ll be easy once you figure that out.” (Marcus quoting Iacocca, 09:42)
• On Building Reputation:
  “Because you did everything you were supposed to do and nobody got hosed...now we know the character of the man.” (Bankers to Marcus, 14:33)
• On Pushing Against Doubt:
  “I love doing what everybody else says is impossible.” (Marcus, 28:26)
• On Business Superpower:
  “Getting the best version of you. That is my superpower...I will out argue you and out hustle you.” (Marcus, 34:16)

Key Timestamps

• 00:40: First million and lessons learned
• 03:36: Entering the RV industry, Lee Iacocca's advice
• 09:12: Discovering Holiday RV’s crisis and survival tactics
• 12:46: Wind down and how bankruptcy led to opportunity
• 14:58: From CEO to TV star – Pitching 'The Profit'
• 18:46: Initial ratings and building an audience
• 23:24: TV celebrity impact on business deals
• 25:56: Leaving Camping World and joining Bed Bath & Beyond
• 28:49: Vision for Bed Bath & Beyond as "everything home"
• 30:58: Hustle, family business lessons, and show’s secret sauce
• 34:16: Defining superpower in leadership

Closing Thoughts

This episode offers a masterclass in resilience, the power of unconventional thinking, and why embracing hardship can lead to the greatest opportunities. Marcus Lemonis emphasizes discipline, integrity, and a willingness to “do what everyone says is impossible” as pillars of entrepreneurial achievement. His journey from car lots to Fortune 500 boardrooms and primetime television—always learning, always hustling—serves as inspiration for creators and business builders everywhere.