Reading People Starts With Understanding Risk Tolerance

don't get life advice from billionaires but do get financial advice just not life advice they know nothing they're all they're basically I've never met a billionaire that has an interesting life just to be clear I mean they are more interesting than the average person but I don't find them that interesting because to become a multi-billionaire you pretty much just focus on one of the four pillars of The Good Life so I just want you to know it's not what you know because sometimes I tell people you know hire an introvert for marketing and an extrovert for sales they're like I already knew that I'm like I don't give a what you know what have you implemented have you ever tested you got to test people don't know how to read what an introvert extrovert is it's a much more advanced test than you think to know a true introvert versus a true extrovert there's a lot of ovts in the world that are confusing to read you have to be an actual expert I am a true expert at it but it took me 10 years 30,000 hours and 800,000 quizzes and two mentors that are world class to become an expert at it so use my quiz uh to assess whether somebody's introvert now the other thing to go a little more advanced into personality of hiring is you really got to assess risk tolerance levels so one of the things that I'm actually pioneering that nobody's ever done um I'm I want to write a paper with Dr David B on this um or I have a Oxford Professor that I've written a paper before with people are not assessing risk tolerance so in my 12 types career quiz okay you need the right risk level for each person so for example a chief operating officer you do not want them high risk or lowrisk you want them generally to be medium risk okay you don't now your CFO who would be or your head of accounting you make sure you have a no risk taker there your sales team leader who leads sales you need high high high high risk taker now interestingly enough for marketing I think you want a medium risk taker because a high risk taker will spend all your money on one Facebook adad campaign and destroy you okay so business partners by the way Clos this is the most you need a very intricate evaluation now to be more advanced than this it depends on your it depends on your risk tolerance so I am a medium to high risk taker on a 1 to 100 scale on the 12 types quiz I score around 65 which is moderate high it's a little above okay so I can go different directions I've had a business one of my business partners in my life is extremely high he's like a 90 out of a 100 um in general you want your leaders around 20 points away from you I don't like when they're too far away from you you'll have too much of a disconnect so if you score like me 65 you want somebody no more than 855 and not less than 45 you'll be frustrated in the leadership division 14 in the executive leaders senior Executives you want them about 20 points away from you by the way this is for marriage too marriage you want 20 to 30 points when an extremely high risk-taking man marries an extremely low risk-taking woman it's problematic so in general and by the way you also need to offset yourself so you do not want everybody in this senior executive team to be the same risk level as you you definitely want like for example I am a slightly high risk taker at about 65 my coo is she's about a 50 so that's a great mix she's definitely pulls me back from taking too much risk but she's Rel she's not like super freed okay now for a CFO I think you're okay you know sometimes in accounting your your bookkeeper you want to be like a 20 on risk taking by the way your bookeeper should be like the scaredy cat by the way I have a bookkeeper he must be like a 12 on wristy yeah I've had different I've I've had a accountant once who in hindsight I didn't know how to R french guy guy re ruined my boats took me two years to fix all his stupid accounting this is like way back in like 2011 and looking back the guy was a high-risk ticker he smoking cigarettes all the time people need to smoke cigarette don't hire somebody who needs stimulus like alcohol Dr I had a I had a CFO one time who I had to let him go he was getting DUIs you don't that's a highrisk taker in general people are addicted to things are higher on the risk scale that's not my opinion you can go to Chad gbt and you'll see the correlation it's not 100% correlation but it's very related