Becker Private Equity & Business Podcast
Don’t Run Your Business Like You’re Rich 4-16-25
Wed, 16 Apr 2025
In this episode, Scott Becker shares advice for entrepreneurs.
Chapter 1: Who is Scott Becker and what is the main message of this episode?
Chapter 2: Why shouldn't you run your business like you're rich?
this is scott becker with the becker private equity and business podcast today's discussion is don't run your business like you're rich and i love this concept it came out of recent discussions with somebody where somebody accused a business owner a business operator of not really watching what's going on that closely and basically the acquisition that they run it like the rich and they can afford to keep pouring money into it
Chapter 3: What are the risks of ignoring profits and losses in business?
Chapter 4: How can you make your business investable rather than just a hobby?
And if that's the case, then the party that is the party to it doesn't want to invest in it. And I thought that was just right on this concept that you can't run a business like you're a rich person. You've got to run it with great concerns about profit and losses. particularly if you want it to be an investable business, not just your own fun hobby or your own family business.
Chapter 5: What does it mean to watch your spending closely in business?
Chapter 6: Why can't you keep moving the goalpost when revenues equal expenses?
This concept that you have to run it where you're really watching what you're spending. We use a different phrase often, which is if you're running a business and trying to get to the spot where revenues equal expenses, then you can't constantly move the goalpost.
And meaning the goalpost means that you're increasing the expenses, but not bringing in a similar amount of revenues to match those expenses. And businesses get into this cycle where they keep on self-funding, sometimes worse with big, big venture capital funding. But I see this more. Wealthy person has a business. It's their second run, their third run.
They're almost running as an advanced hobby versus a business and And it's their dream. It might be their dream, but they're not running it like a real business. They're running it as something where they're pouring money into it, but not necessarily making smart decisions. Love the concept. Thank you for listening to the Becker Private Equity and Business Podcast.
Don't run your business like a rich person. Thank you very, very much for listening.