A (0:00)

Say what you want about AI, but it's here and it's helping businesses get more done in a day. Wix's website builder is infused with AI so you can stay ahead. Create a beautiful, functional website just by describing your idea, track how your site appears in AI search results, create custom images on demand, or launch an entire campaign in a matter of minutes. WIX gives you AI wherever you need it. Try it now for free@wix.com this is.

B (0:28)

Scott Becker with the Becker Business in the Becker Private Equity Podcast. Today's discussion is going to be about strategic planning, wins and losses in personal experiences. We're going to talk about personal experiences. So so here's the issue on business and strategic planning. And again, you're with the Becker Business, the Becker Private Equity podcast. We try and bring you one to two business and market insight episodes a day, plus one interview a day with a brilliant business leader. So we're going to talk today about business and strategic plan planning, wins and losses. So here's what I see as the spectrum of business and sort of investment planning and whatever planning you're doing. This could apply as well to your sports, to your fitness, to your business, to really whatever you're trying to do to your career, etc. And I look at business plans through three different lenses. People that just act without a plan and sometimes they get where they should be going because they act and they figured out second, those that work with a sort of minimum size plan for what they're trying to do. And then third, those that work with comprehensive plans as to what they're trying to attack. And what I would say is I see a lot of people at either side of the spectrum that either just get going and act without a plan or two go for the most comprehensive plan they can and then not really get started. And I think the right answer for most of us. And I often fail when I go too light on this. My failure is not in going too comprehensive on the plan, it would be going too light on the plan. But the basic concept that I think about is as follows, that if I'm trying to become a better investor, I've got to do some deeper thought up front. And I've done a really good job with this as to how I want to allocate assets. And once I've decided how I want to allocate assets between equities and treasuries and then private business interest, then I could be a little bit more systematic about am I opportunistic about when people bring me an investment idea or do I jump at it? Because I think, okay, this return sounds great, it's worth doing, etc. Etc. It and I could take the risk on it and afford to lose. I think I've done a pretty good job on this. But as I look at different investment opportunities coming at me and finding myself more often saying yes a little bit more than I typically do to sort of opportunistic investments versus things that I really plan to go after, I view it a little bit as though I'm not being as systematic as I'd like to be and as much of a planner as I'd like to be and as intentional as I'd like to be. Similar in developing business plans. We've got a very clear business plan this year for one of the books that we've authored. The newest book we've authored again, buy that book at Amazon, please pre order. It'll come in June, but please pre order it now. Building Great Businesses Create Momentum, Overcome Setbacks and Scale with confidence. We've got a very clear plan for what we're trying to do there. So we like that. It's not perfect, but it's an 80, 90% plan. It's pretty clear about what the plan is. When I look at some of my other goals, whether it's fitness or golf, whatever it is, I think I often suffer from acting without enough planning about here's really the approach to do this. And often I feel like I would benefit from just a little bit more planning up front, a little more clarity up front as to what I'm trying to do. My hope with this is, and again, I've had a successful business career. We've done great. You know, plenty of people have done a lot better. We've done great, went to Harvard Law School, had a great legal career, built a great business, have had fantastic colleagues, served great customers. So, so no complaints. But I do think I would, I would benefit from being a little bit more disciplined sometimes in that planning. And again, we all fit in these different sides of the spectrum. You know, some people are over planners and never get any place, others don't plan at all and others use simple plans. In, in my best situations, I use simple plans and really attack from there. And I've had great success with that. Where I fail is where my simple plan is even too simple and I've not made enough ever. But just figured I'll figure it out by going and engaging in it and so forth. Sometimes that works, sometimes it doesn't. I hope this is helpful to somebody. Again, God bless you for listening to the Becker Business, the Becker Private Equity Podcast. You know, my goal this year is to be a little bit more disciplined in my planning, my weeks, my year, my goals and how we're going to get there versus as opportunistic. Thank you for listening to the Becker Business and Becker Private Equity Podcast. Again, a reminder, follow us at Apple, Spotify, wherever you listen to podcast. Follow me on LinkedIn and of course buy the book, pre order the book at Amazon. Building Great Businesses Create Momentum, Overcome Setbacks Scale with Confidence. And I'll tell you this, if you're the first person to text me about this podcast, we will send you a $100 gift certificate. An Amazon gift certificate. You have to Text Scott Becker Scott 773-766-5322 thank you so much for listening to the Becker Business and the Becker Private Equity Podcast.