The Game with Alex Hormozi Mismatch of Risk Appetite When Hiring | Ep 792
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Nov 18, 2024 Explore the intricate dynamics of risk appetite in entrepreneurship. Discover how personal lifestyle choices shape an entrepreneur's willingness to take risks. Learn why adopting a mindset that embraces risk can be a game-changer for business growth. This discussion sheds light on the importance of balancing risk and reward to unlock your full potential.
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Compensation Strategy for Maximum Upside
- Never take a salary, prioritize upside in compensation.
- Link your compensation to your performance and the company's growth.
Risk Mismatch
- Entrepreneurs often fail to appreciate risk when joining established companies.
- They want similar income with less risk, creating a mismatch in risk appetite.
Lifestyle Limits Risk
- High personal spending limits risk-taking in business.
- Reduce your lifestyle to increase your capacity for high-upside risks.