Becker Private Equity & Business Podcast
Don’t Forget What Lead to Success the First Time 3-17-25
Mon, 17 Mar 2025
In this episode, Scott Becker explores the reality of achieving success in multiple ventures.
Chapter 1: What is the main theme of success discussed?
this is scott becker with the becker private equity and business podcast today's discussion is a business discussion it can be true of sports can be true of business it can be true of any place where you develop great expertise and have great success one of the things that we see constantly and it's sort of the opposite there's a great set of books
Chapter 2: What does 'what got you here won't get you there' mean?
by a professional executive coach, one of the great ones, I think it's Marshall Goldsmith. It essentially says, what got you here won't get you there. And that's the concept that getting to a certain level requires then transitions and changes to get to the next level. There's actually an opposite of that concept. And I'll talk about it as follows.
Chapter 3: How does expertise impact new ventures?
When you become excellent at something, fantastic at something, Many people don't realize that to be fantastic at the next thing means they actually, yes, they'll take their knowledge base, but sometimes they lose the perspective that they really are starting all over again. They're not starting the next thing on second or third base or fourth base. They might understand better.
Chapter 4: Why is starting over important in new endeavors?
And I know fourth base is known as home plate. So bear with me, but they might understand better. things better, they might understand what it takes to be great at something else. But at the end of the day, one of the things that I think is, you could never forget what got you to success in your first endeavor, your second endeavor.
Chapter 5: What lessons do serial entrepreneurs learn?
I'm reminded this often by serial entrepreneurs, that even though they may be better the second, third, fourth, fifth time around, you almost always are starting at zero. So you're not starting again at premium pricing until you build the right brand. You're not forgetting all the things it took to be successful the first time to do it the second time.
You can't put in a gargantum effort the first time. And obviously some of that's going to be learning curve and expect to put in a halfway effort the second time and still have great success the second time. So if you want to be successful, multiple different things over the course of a life.
The thing you can't forget is, and it's reality of it is, it's gonna be a lot of work to figure it out the next time, to figure out product market fit, to figure out your team, to build a following, to build a customer base, whatever it is,
you don't start in your next endeavor on on second or third base you might start a little bit on first base because you know things you didn't know before but you can't forget the effort it's going to take i see some people fantastic tennis players growing up that try and make themselves into great golfers and again they can't forget what it took them to become a great tennis player
Now, some of the athletic skill might be transferable, but at the end of the day, it's going to take a lot of work to become great in that next thing. I think it's very true of business. Never forget where you start. Never forget that when you get started again, you got to go back to the start and grind to do all those things that helped you to figure out the first thing the second time.
Thank you for listening to the Becker Private Equity and Business Podcast. Thank you very much for joining us.
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