When it comes to running a successful and profitable company, self-made millionaire Marcus Lemonis is a firm believer that having people skills can make or break a leader's business.
In this week's episode of CNBC's "The Profit," Lemonis revealed how a California-based company bringing in millions in sales is on the brink of closing due to one of its owners' control and micromanagement issues.
Husband and wife Jeff and Aimee Dougherty founded JD Custom Designs, a display manufacturing company, in 2009. In the following year, the business reached $2.4 million of revenue mainly by creating eye-catching retail displays for clients in the cosmetic industry.
Despite bringing in over $1 million in sales each year over the previous few years, the company ran out of working capital in 2016. Without the funds to repair broken machines, delays piled up and sales slowed down. The business fell into $393,000 of debt.
Though Jeff and Aimee are equal partners and owners of the business, Lemonis noticed that Jeff had an issue with micromanaging his wife and the rest of his staff.
"If I can't persuade him to let go of the reins and help his wife and partner come into her own, JD Custom Designs could just disappear," Lemonis said.
Here are three ways Lemonis helped Jeff resolve his desire for control, step away from his micromanaging ways and help turn his business around.