In this episode, Scott Becker shares six insightful concepts he came across on Twitter.
Chapter 1: What are the six mantras discussed in this episode?
this is scott becker with the becker private equity and business podcast today we're going to go through six mantras and concepts we came across this weekend that i absolutely loved and so let me go through these six of them some of them i'll be able to attribute to the author some of them i forgot who the author was but but none of these are my original thoughts so the first one is somebody commenting on a tweet where somebody in the tweet says
Chapter 2: What does it mean to scale a business?
I've now scaled my business to $4,000. And somebody had the wherewithal to respond to the tweet to her that scaling does not mean $4,000 in business. It's terrific. It means you've done a good job of getting your sales and business going. But let's not confuse scaling with starting a business or getting your first sales again. Two completely different things.
And I think the person's concept was there are so many pretenders of builders of business on Twitter. And when somebody says, I've now scaled my business to 4,000, that's not really what we think of as scaling. Now, again, God bless you if that's multiple different sales and momentum is starting to move in the right direction. But that's not scaling. That's getting started and terrific.
Chapter 3: Why is success not just about building a billion-dollar startup?
The second concept I also love from Twitter, and this is a guy named Andrew Gatzdacki. He says, you don't have to build a billion-dollar startup to be successful. If you're happy and you're able to pay your bills, you've won. And I think this is right on.
The great Maslow's hierarchy is that you're able to pay your bills and support yourself through whatever you do, a job, a business, or anything else. Don't let everybody fool you to think that the only way to success is to build some huge thing, whatever. Dignity, truth, is you got a job, you have a business, whatever it is, and you can take care of and support yourself.
Chapter 4: How can mastering one skill lead to greater success?
That's the great, great starting point in life and success in and of itself. So I absolutely love that. The third concept from this week is this, is that the concept from a gentleman named Antonio is, is lock in one skill. That's all you need. Become a master at that one skill. Nobody pays you, and he uses the word a shit ton of money.
I wouldn't use that word, but a shit ton of money for being average at 10 skills. And this is a constant reminder to all of us, including myself, that you're far better off really focusing on one or two core objectives than 30 different things and being really great at those things. The fourth concept that I saw this weekend from a gentleman, Paul and you, again, doing the work is more fulfilling.
Chapter 5: Why is doing the work more fulfilling than being scattered?
You don't have to be all over the place. Just get to work and do the work. So I will tell you, for all the different things I do, The simple act of podcasting with my tremendous producer, the simple fact of writing, of doing the work is probably so much healthier for me than the dozen hours I spend thinking about what I should do and being all over the place. Just do the work.
That's the way to go. Just dig in and do the work. Two more consoles we'll talk about today that I love. Somebody says in a comment to this named Taysorn, I don't know who that is. Every high achiever I know turns ideas into action fast. And this is at least how, I don't know, every high achiever, I see some that are deeply thoughtful and then turn deep ideas into big, big things.
Chapter 6: What do high achievers do differently?
But for most of us, I think this is the truth. It's certainly the truth for me. It's testing, turning ideas into action fast, making them happen, see how they go, and then doubling down on what works. So this concept of every high achiever I know turns ideas into action fast is one that I love. Next great concept. I almost said great. Excuse me. It's one of those days.
Great concept is the number one reason products fall. you thought more about what you want to sell than what people want to buy. And I find myself in this situation often. For a very long time, I chased a business that built perfectly into my own workflow versus what clients really wanted to buy.
And the more we pivot to what they need and what helps them or compromise what I'd love to do to that Venn diagram of what they want to, the better off we are. This has obviously been an endemic issue in software. People build software they love, but nobody wants it.
It's one of the reasons we talk about with software service businesses, constant engineering, but also constant commercializing and testing with the audience. But I love this concept. You thought more about what you want to sell than what people want to buy. The last concept is a more complicated concept, and it talks about your best performance. That if you... can be pushed, coached, prodded.
You could do 10 times better at something if you are pushed, prodded, coached. One of the things that happened in my life is when I've had great coaches that are actually willing to push me at a pace a little bit bigger than I'm willing to be pushed, I performed at a different level.
Now, most coaches don't want to do that because you're often a paying customer, and so they feel like they don't have to, what have you. I had a tennis coach in high school who was just remarkable, told me, this is how you are going to play. And this made me, not by any means, not Novak Djokovic, but made me much better than I thought I could be. And either you find that drive intensely intense,
obsessively in yourself or somebody pushes you to it and you end up performing a lot better than you otherwise could. Again, this is another tweet from this weekend by a gentleman named Roman Simon. And I just think he's right on the best performance or they're forced by their own environment or by others. But I think that concept is right on again.
These are a number of different sort of mantras and concepts from this weekend. I love them. I hope you find them helpful. If you want to hear this again, let me know or just listen to it again. If you have questions, comments, other mantras you'd like to share on the Becker Private Equity Podcast, always feel free to text Scott Becker at 773-766-5322.
Thank you very much for joining us on the Becker Private Equity and Business Podcast. Thank you very, very much.
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