Transcript
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This is Scott Becker with the Becker Business Podcast. The Becker Private Equity Podcast. Today's discussion is entrepreneurs in knowing your lane. So here's the issue with entrepreneurs. Entrepreneurs feel like they are Superman or Superwoman in many cases, and think that they could do everything. And one of the lessons I've learned as an entrepreneur is you really have to know what your niche is, what you're really good at, and what you shouldn't be doing. And there's often vast goals between where, what you are great at and what your team is great at, and what your team is not great at. And knowing where to direct your efforts, your market efforts, your personnel efforts, your business efforts versus being all over the place is a very, very important concept in business. So the concept that we talk about today is entrepreneurs and knowing your way. And this is probably true of so many things. But to know your strength, know where you should double down and to go after those things like the devil, to go after them hard, very hardcore. But, but knowing that you're doing so in your lane, this doesn't mean you shouldn't explore other areas. But you ought to know when you're testing other areas, that's what you're doing. You're exploring those areas. They may work, they may, they might not work. Amazon was famous for this. And after a few years deciding, are they doubling down on them, are they pivoting in them, or are they closing them down? And I think that concept is so true for entrepreneurs as well. So important to know your lane and then to double and triple and contribute down incredible trout on your lane and go after things in that area. I hope this lesson, this lesson and thought resonates with somebody. Thank you for listening to the Becker Business Podcast, the Becker Private Equity Podcast, and make it a great day today. Thank you very, very much.