Thursday, June 27, 2013

Every Entrepreneur Can Learn from George Zimmer (and how he was fired!)

"You're going to like the way you look. I guarantee it." ~ George Zimmer

Over the last four decades, the founder of Men's Wearhouse has shined in the spotlight with his well priced men's fine clothing and deep bravado signature phrase...until last week when the Board of Directors fired him.

It can be emotional and disheartening to watch an icon of an industry dispelled by his own company. How could something like this happen? How can a brand built by a man who regularly embraces his image (Zimmer was forefront in most of the company's advertising) decide to fire their shining star.

This is where we - as fellow business owners - must take note. We are all striving for growth in our own endeavors. We want our company to be successful and earn recognition. Often one of the biggest struggles for start-ups is financial capital and so many of us are more than thrilled when the opportunity to gain investors appears. But just as there is reward...there is risk when you give away the control of your company. George Zimmer is feeling the pains of those risks now.