Episode Overview

Title: It’s Not the Economy, Stupid
Podcast: Becker Business (Becker Private Equity Podcast)
Host: Scott Becker
Date: November 1, 2025

In this episode, Scott Becker challenges the widespread tendency of businesses to blame external factors—such as the broader economy, political climate, or tariffs—for their poor performance. Instead, Becker encourages leaders and companies to take responsibility for their own actions and outcomes. Using both corporate and personal analogies, he emphasizes the importance of introspection and proactive leadership in the face of difficulties.

Key Discussion Points and Insights

1. The Culture of Blame in Business

• Scott Becker opens by noting a recurring theme: when companies underperform, they often look for external scapegoats instead of owning up to internal shortcomings.
• He cites recent examples where auto companies, food companies, or restaurant chains like Chipotle blame broader economic issues for earnings troubles.

2. The Real Issue: Internal Accountability

• Core Insight: While factors like the economy or government policy can impact business, Becker argues these often serve as distractions from the real problems—internal company leadership and execution.

• He offers a personal analogy: blaming others (family, sugar, restaurants) for his weight struggles, when in reality, responsibility lies with him.

  "When I am struggling with my weight, I could blame Liz for bringing in all kinds of sweets to the house... But the reality is, it's not anybody else. It's me."
  — Scott Becker [01:05]

• The same principle applies to businesses: blaming the economy or externalities deflects from management and operational issues.

3. Leadership’s Role in Company Performance

• Becker’s Main Message: Leaders must look inward—company leadership and strategy are typically at the heart of performance issues, not external circumstances.

  "Often it's not the economy. It's not the tariffs. It's not anybody else. It's you. It's the leader of the company."
  — Scott Becker [01:40]

• Companies should focus on what they can control and improve, even when facing outside challenges.

4. Advice for Businesses

• Stop the cycle of blame—self-reflection and improvement are critical.
• Use external difficulties as a catalyst to identify and address weaknesses within the company, rather than as an excuse.

Notable Quotes & Memorable Moments

• On Blame-shifting:

  "They spend so much time blaming external factors to, sort of, distract from their own leadership and what they're doing right and wrong, that they end up trying to, sort of, place blame elsewhere versus themselves."
  — Scott Becker [00:40]

• On Accountability:

  "It's not the economy, stupid. It's you."
  — Scott Becker [01:50]

Important Timestamps

• 00:00 — Episode introduction, topic overview
• 00:15 — Examples of blame in the business world
• 01:00 — Personal analogy about accountability
• 01:40 — Emphasis on company leadership
• 01:50 — The mantra: "It's not the economy, stupid. It's you."
• 02:10 — Summary: advice to focus inward and improve

Tone and Style

Scott Becker maintains a direct, pragmatic, and mildly humorous tone throughout, making the subject approachable while delivering serious, actionable advice for business leaders and professionals.

Summary

This episode delivers a clear, concise argument: the most important improvements for struggling businesses start from within. While external challenges abound, success or failure is generally determined by a company’s own leadership, culture, and willingness to engage in self-improvement. Leaders should stop looking for excuses and start making changes they control, because, as Becker says, "It's not the economy, stupid. It's you."