Lee Marcum: The Reluctant Owner of a Family Business – LP005

By February 8, 2016Shows

Lee Marcum: Episode Information

What happens when you’re the third generation son of a family owned business that bears your grandfather’s, father’s and your name on the business? Jack’s Donuts has been around since 1961 after Jack Sr bought and renamed a local pastry shop. Jack Jr took over the business in 1979. Jack “Lee” Marcum III (Lee Marcum) was determined the legacy would stop with his dad as he decided to strike out on his own path even going so far as to helping his dad get the business ready for sale to a new owner and a different family.

This is Lee’s story, the story of how he reluctantly took control of the business, turned it’s sagging sales around, franchised out, became a bit of a celebrity himself, and completely turned into the donut king.

During the show we tackle a host of business failures and issues as well as the mindset it takes to run a company. We also get delightfully off track on several items as we mix beer and donuts.

What happens when fear takes over and you do the exact same things that you, your father, and your grandfather did before you just because that’s the way it was always done. How do you deal with pissing off friends and family when you have to make the hard decisions to steer the business away from the old model to build for the future?

Lee takes on the notion of confidence. Does he have it? Does he fake it? How he has pushed forward and used Social Media and a deal with a TV station to turn himself into a local celebrity pushing Jack’s Donuts to the forefront of people’s minds.

Also we find out how derailed we can get after a pee break interrupts the flow… so to speak.

We finish the show off with frank discussions of significant others. How you have to find the right person to be with if you are an entrepreneur, how Lee has definitely out-kicked his coverage and how Josh has consistency with his two dogs.

Lee Marcum and Josh Springer

Disclaimer: No participants drove home while inebriated.

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Brad Shoemaker

Author Brad Shoemaker

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