Over four decades ago, Steven Bankert launched Bankert Electric, the first of several businesses. Since 1980, Steven Bankert has owned multiple laundromats, an ice cream shop, and two leisure-related businesses.
Mr. Bankert launched a secret shopper business in 2000. In this capacity, he helps business owners with quality control by dining at their restaurants, gambling in their casinos, or visiting their amusement parks. He then reports back to them about the customer service he experiences.
Mr. Bankert is also heavily involved with his local community. After purchasing a home with a pond, he became involved with the local conservation commission to make sure that their decisions were in the interest of saving wetlands. He has also been president of the Lion’s Club in Plainville. In addition, he served as a North Attleborough Finance Committee member and was a member of the Coin Laundry Association. In his personal time, he wakeboards, bowls, swims, dines out, walks, and attends the theater and sporting events.
What is your typical day, and how do you make it productive?
My typical day starts with exercise. I check my messages and emails, answering the most important immediately and acknowledging how much time I need to answer the balance of the emails. I make a healthy breakfast, either a protein shake or eggs and fruit. I usually have a schedule for the day, including meetings and other tasks that require my attention. These can include things that need repair, or a new purchase, or research for something that I am planning to do. My goal is to have my days scheduled so that work is done by midafternoon. This allows time for emergencies that may arise during the day. I usually plan something social for the evening, but my schedule is flexible enough that I can rearrange my tasks and still get everything done.
How do you bring ideas to life?
I am very creative. I can build most anything. So, if I have an idea, I can personally see it from concept to completion. I can make changes along the way and hopefully the finished product is exactly what I envisioned. If my idea is a procedure, I can articulate what I want in writing and by teaching the procedure.
What’s one trend that excites you?
A trend that excites me is the advancements in AI. The ability to have large amounts of data processed quickly will help everyone that uses it. The downside is that AI may be allowed to autonomously make decisions that affect people. Without human compassion, there can be no safety in the use of AI. The least attractive part of AI is the possibility of bad decisions. For example, an AI determines you are likely to get into an automobile accident, so it revokes your driver’s license. No warning and a long, drawn-out appeal process. Or the bank’s AI determines you are likely to have overdrafts on your checking account in the future, so the AI closes all your accounts and shares its information with all other banks.
What is one habit that helps you be productive?
I stay productive by making lists and I refer to them often during the day. I can prioritize each list and make sure important tasks are not missed or forgotten. I am goal-oriented, so I derive satisfaction from crossing things off my list each day.
What advice would you give your younger self?
If I could go back in time and advise my younger self, I would say
research everything as much as possible. Ask for advice. Learn from other people’s mistakes. Surround yourself with positive and successful people. Avoid negativity.
Tell us something you believe almost nobody agrees with you on?
Tell us something you believe that almost nobody agrees with you on.
I believe that there are times when the best strategy is to walk away from a project or situation. In the movie War Games, at the end, after running multiple thermonuclear war simulations, the computer, an early AI, determines that the only way to win is not to play. I find many times that the best plan is to work on something that will give the best return for the effort I add to a project or activity.
What is the one thing you repeatedly do and recommend everyone else do?
I recommend that everyone treat everyone else with respect. Customer service in this country used to be some of the best in the world. However, the farming out of customer service call centers in other countries has allowed the customer service available to people in the US to be second-rate or worse. I always think of the person I am interacting with when I decide how to treat them. Saying “NO” just because you can, never makes it right. The correct answer to every question is exactly that. Out of all the choices, giving the correct answer is the best choice.
When you feel overwhelmed or unfocused, what do you do?
When I am overwhelmed, I look for the positives in the situation that faces me. And I look for the best solution, not necessarily the easiest or most popular. Once I center myself on what is best for me, I start to feel better about myself and choices. Unless I am thinking clearly, it’s very possible to make a bad decision.
What is one strategy that has helped you grow your business or advance in your career?
My best business strategy has always been to treat my employees and customers very well. I take pride is making good employment decisions and creating great procedures for the employees to follow. Every customer is valuable. Every interaction between a customer and an employee is an opportunity to make the customer happy so they are repeat customers and tell other people about our great customer service. Happy customers are easy to deal with, which makes happy employees. And that is the best way to grow a business.
What is one failure in your career, how did you overcome it, and what lessons did you take away from it?
My failure with my earlier businesses was that I didn’t choose the location well. I didn’t look at the regulations for the city, town, or state and how they would impact me and my business. Too much of my time and money were wasted trying to comply with rules and regulations that were intended to overreach government control. Much of the additional work was to add oversight the government did not need or was not entitled to. This overreach would make things too complicated. Procedures were more time-consuming than they needed to be. The process to open the business was more work than running the business sometimes. To resolve this, I looked to businesses that did not have much if any government regulation and locations that were friendly to business.
What is one piece of software that helps you be productive? How do you use it?
The simple spreadsheet is probably the most important tool I use in my business. I set it up with revenue and expenses by day. I can keep a running total of actual dollars, and percentages. I can see customer counts and supply margins. I can set up the calculations myself so they specifically fit my industry I can import my point-of-sale information, but not have to rely on the reports that the programmer of my point-of-sale thinks I want and need. I can instantly see comparisons from year-to-year, and a running total of what’s working well, and what’s marginal or costing me money. I can adjust by the day instead of waiting for reports at the end of the month, or worse the end of the year.
Do you have a favorite book or podcast you’ve gotten a ton of value from and why?
How I Built This with Guy Raz. This podcast dives into founders’ journeys—their wins, mistakes, and resilience—offering real-world parallels to other experiences we deal with.
What’s a movie or series you recently enjoyed and why?
The Chosen. I think it was well done and has the ability to appeal to anyone who knows the Bible, as well as those who don’t know the whole story.
Key learnings
- Productivity Starts with Structure & Flexibility – Begin the day with exercise, prioritization (emails, tasks), and a clear schedule, leave room for emergencies by completing core work early, and use lists to stay organized and goal-oriented.
- Success in Business & Relationships Depends on Respect – happy teams and satisfied clients drive growth. Customer service is a differentiator; learn from competitors’ reviews to refine your approach.
- Strategic Decision-Making: When to Persist vs. Walk Away. Research thoroughly, seek advice, and learn from others’ mistakes. Focus on solutions that align with long-term goals, not just short-term ease.
- Balance Innovation with Caution (Especially with AI). Human oversight is critical. Guard against autonomous systems making life-altering decisions without compassion.