How to Know When to Let an Employee Go – And the Right Way to Do It Marcus Lemonis, host of CNBC's The Profit, shares his best advice for turning the negative experience of firing an employee into a positive one.

As an entrepreneur or manager, you're typically pretty optimistic after hiring a new employee or promoting someone to take on more responsibility. Sometimes though, despite your best judgment and vetting efforts, those people simply don't work out.

In this video – filmed during a recent event sponsored by The UPS Store^® and Entrepreneur – businessman and host of CNBC's The Profit, Marcus Lemonis, shares his best advice for turning the negative of firing an employee into a positive.