Undercover Billionaire is a new show on Discovery which follows entrepreneur Glenn Stearns as he tries to build a $1 million business in 90 days after starting with just $100 of capital. Here are ten things about the show and Glenn Stearns that you may not know.
Glenn Stearns worked as a loans officer for ten months before he decided to quit and start his own business. He founded Stearns Lending which is now in one of the top 20 biggest mortgage lenders in the United States. He has recently sold a large share of his business which has contributed considerably to his net worth.
Stearns has owned his own business for thirty years and in this time has gained a lot of contacts in the business world. However, he is not allowed to get in touch with any of these companies or individuals to ask for help. He only has himself to rely on in order to make the business a success and this will be one of the biggest challenges in the show.
Stearn himself had the idea for the show and pitched it to the Discovery Channel. The channels brand officer Nancy Daniels told Business Insider that she was unsurewhether the concept would work at first. However, after meeting with Stearns a few times she began to think that it would be something that could work. There was quite a large gap between the time that the show was approved until the time that filming began but this gave the production team the time to make sure that everything was carefully planned.
At the end of the ninety days, an independent valuation expert will assess how much the business is worth. If this value comes to less than $1 million, then Stearns will invest $1 million of his own money into the business. This ensures that the people of Erie who have been involved in the business wont suffer if it does not become as successful as hoped. It also gives Stearns an incentive to work hard to make sure that the business is worth a million at least.
Stearns is aware that a lot of opportunities are available to him because he is already very wealthy,as was explained by Distractify. He started his own business with nothing and still believes that this is possible, but wanted to prove that it could still be done. Having built his own business up from nothing, he is a firm believer that the American dream of becoming a success is available to anyone who is prepared to put the work in. This show will reveal one way or another whether the American dream does still exist.
Stearns was the first person in his family to graduate from college. He had none of the privileges that people who are born into money get and this has become a huge part of the way he does business. It may have been a number of years since he could last be considered working class but he has never forgotten his roots. This makes it easier for him to relate to the people he will be working with in the show.
The city that was chosen for Stearn to start his new business was Erie, Pennsylvania. He has no connections in this city and it is somewhere that is quite unfamiliar to him. It was chosen as a good example of a medium sized American city. There is no one in the town that he knows and this means that he will have to forge working relationships with strangers before he can even start to get the new business off the ground.
When the show ends, the people who have been helping Stearns set up and run the business will have a key role in running it. This will be the reward for all the hard work they have put in to help to grow the business. Stearns was keen that the show should build a business in the town that would create real opportunities for the people that live there. He wants Erie to continue to benefit long after the show has finished filming.
This is not the first time that Glenn Stearns has appeared on a reality TV show. Back in 2004 he starred as the Millionaire on the Real Gilligans Island and was named the winner. He did admit that the fact he enjoyed his time on the show so much was one of the reasons he was so keen to be a part of Undercover Billionaire. The Real Gilligans Island was fairly successful at the time but it is not a show that really sticks in the memory. Therefore, it is is unlikely that Stearns would be recognised for this show almost fifteen years later which should help him to stay undercover.
According to Reality Blurred, one of the things that the show does well is show how difficult is it for Stearns to get started with such a small amount of money.The show also portraysthe fact that there a lot of people living hand to mouth with hardly any spare money. When people are living in these situations it can be hard to ever see a way out of it. With a show such as this it may give them a little bit of hope that anyone can improve their situation if they are prepared to put in the hard work and effort.
Aidens been an entertainment freelancer for over 10 years covering movies, television and the occasional comic or video game beat. If its anything Shawshank Redemption, Seinfeld, or Kevin Bacon game related hes way more interested.
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