Valuetainment - Episode 371： Type A Personality Explained

00:00:00.000 30 seconds, one time for the underdog, ignition sequence start, let me see you put them up, reach the sky, touch the stars, up above, cause it's one time for the underdog, one time for the underdog.

00:00:16.920 I'm Patrick Bedevi, host of Value Tim, and today we are talking about type A personalities, yes, all the type A personalities that sometimes are difficult to work with, difficult to date, difficult to have as a friend or family, we're going to talk about those guys in this episode.

00:00:31.280 Number one, winning at all costs, doesn't matter what it is, I don't care about breaking the rules, I'm willing to break the law to win.

00:00:39.280 So those regulations, laws that are in place, I'll cross the line to be able to win. I don't care. So compliance is not being looked at.

00:00:47.120 You know, regulatory issues not being looked at. Investment into attorneys not being done. Investment into compliance is not being done because I don't care what's going to happen.

00:00:54.700 It's winning at all costs. I used to compete with several guys that were willing to compete at all costs, and they did in the financial industry what wasn't good for the client.

00:01:02.880 They lost their license for a decade. They took away their 663-26 because it was winning at all costs.

00:01:09.420 It's so tempting for type A personalities, but this could waste a decade of your career if you do that.

00:01:15.180 So number two, being overbearing. What is overbearing? Overbearing to me is working with somebody that nothing is ever good enough.

00:01:21.480 It's like, oh my gosh, I just did what you told me to do. It's like, it's not enough yet. It's not as good. It's not that good yet.

00:01:27.300 It's not this and that's not that. I don't know if this is good. And you're like, what can I ever do that's going to please you?

00:01:32.480 But this is actually an area that investors, MVCs, and PE firms like because they're willing to go a certain level of expectations that others aren't willing to go to.

00:01:44.500 Let me explain to you.

00:01:46.520 I'm interviewing Patti McCord, a former chief talent officer of Netflix of 14 years.

00:01:51.640 She worked directly with Reed Hastings, helped the company go from zero to $150 billion.

00:01:55.440 She tells the story of the day they crossed a million users on subscribers to Netflix.

00:02:01.060 She says, our chief operating officer comes in. She says, guess what? Our CMO comes in. Guess what? What?

00:02:06.700 We just crossed a million subscribers.

00:02:09.020 You know, Reed is there. She's there. Everybody's like, oh, that's awesome.

00:02:12.380 They're jumping out, doing all this stuff.

00:02:14.280 And Reed stops. Everybody says, listen, this is great. You guys can celebrate, but I'm going for five million.

00:02:18.420 She says, what? We just crossed a million.

00:02:20.620 I don't care. You guys can do all the celebration we want. It's off to five million.

00:02:23.860 It's like, are you out of your mind now that they're at 70, 80 million users worldwide?

00:02:27.660 What happened there? That's the overbearing aspect.

00:02:30.500 But the part I want to make a point here with the overbearing is,

00:02:33.900 there's overbearing to building something big that you're going for.

00:02:38.180 Then there's overbearing where even day-to-day stuff that people do right,

00:02:41.960 they don't get rewarded or recognized for it.

00:02:44.160 That's the part that's a little bit difficult working with type A's. 1.00

00:02:47.200 If you're watching this, you're with type A's.

00:02:48.340 Just keep in mind, that is an area that sometimes gets under people's skills.

00:02:51.580 If they do something right, let them know that.

00:02:53.320 Number three, they get bored very easily.

00:02:55.380 Now this boredom isn't just, they get bored and then they go do some dumb stuff.

00:02:59.540 I'm not talking about that.

00:03:00.920 The boredom I'm talking about is, so you come up with a strategy hypothetically.

00:03:03.940 You got the strategy that you're excited about, and you and your board came up with it,

00:03:07.480 and here's what we're going to be doing, right?

00:03:09.260 You got the plan, everybody's excited.

00:03:11.580 You put this into action, but after a month, two months,

00:03:15.440 you're bored out of your mind, you change the strategy again.

00:03:18.100 And you change it again, and you change it again, and change it again.

00:03:22.800 Instead of adjusting, you massively change it again.

00:03:25.980 You're not giving it enough time to create momentum.

00:03:28.400 It's almost like this.

00:03:29.520 You buy mutual funds.

00:03:30.800 Say you buy stocks, bonds.

00:03:32.160 You buy real estate.

00:03:33.500 Very quickly, oh, I didn't make money on this.

00:03:35.180 Sell it.

00:03:35.580 Sell it.

00:03:36.200 Next thing.

00:03:36.500 Sell it.

00:03:36.820 Next thing.

00:03:37.540 And then you're like, I'm not making any money.

00:03:39.000 Because there's a part of it that's like, you got to allow your strategy to brew and grow a little bit.

00:03:43.820 When you're getting bored easily and you're changing stuff, you're not letting momentum come into your sight.

00:03:48.040 Number four, temper tantrums.

00:03:49.800 Temper tantrums are very common with this personality type.

00:03:53.000 However, maturity sometimes comes sooner than later for some.

00:03:56.980 I mean, when you talk about Bill Gates, he's known as having one of the biggest temper tantrums in Seattle.

00:04:01.000 Everybody knew about it.

00:04:01.880 They would say Steve Jobs had a temper tantrum, but some people that work closely with Bill Gates said his temper tantrums were horrible.

00:04:08.160 So that's part of the type.

00:04:09.380 Now what happens?

00:04:10.500 As you age and you mature and you have a wife and kids and family happens, a little bit of that calms down.

00:04:17.960 But it still shows up every once in a while.

00:04:19.680 But you can have it more control if you're type A.

00:04:21.360 Number five, this is a tough one.

00:04:24.660 And if I could tell you there's a reason why people stop working with type As. 1.00

00:04:30.100 If there had to be a number one, this is probably one of the top ones.

00:04:32.700 Here's what it is.

00:04:34.020 Everything good they do that happens to the business, they did it.

00:04:37.800 Or they came up with it.

00:04:39.120 But everything bad, other people did it.

00:04:41.780 They can't stand taking responsibility.

00:04:44.300 And he's like, you know, that person right there, this like, let's just say something great happened.

00:04:48.200 You know that whole thing.

00:04:48.920 And let's just say somebody else did it, not them.

00:04:51.040 They will privately go campaign to everybody and tell them that I came up with that.

00:04:54.780 Oh, you know, it's really me.

00:04:56.120 You weren't in the meeting, but behind closed doors, I'm really the one that came up with that.

00:04:59.740 I told them this, but you know, it's okay, you know, it's okay, it's okay.

00:05:03.000 Then when that miserably fails, then guess what they say?

00:05:06.360 Did you see what happened with that?

00:05:07.300 I told them never to do this.

00:05:08.840 I told them.

00:05:09.560 I said, it's not a good idea.

00:05:10.700 But they didn't listen to me.

00:05:12.060 You know what?

00:05:12.680 It's their fault.

00:05:13.600 If they would have listened to me, this would have never happened.

00:05:15.960 That's the part about Taipei that's the manipulative side sometimes that's extremely unattractive

00:05:20.000 because it really brings out their insecurities and it's not fun to be around when you do

00:05:24.280 do that.

00:05:24.700 So if you do that, just be aware of this.

00:05:27.200 If you work with a Taipei that does this, tell them to go watch this video. 0.53

00:05:30.860 Hopefully they'll figure the part that you wanted them to get.

00:05:32.940 Number six, escape them from reality. 0.99

00:05:35.700 Taipei's have such an imagination where everything is possible, right?

00:05:39.420 Oh, we can go do this and we can go do that and we can go do this.

00:05:42.160 That sometimes Taipei's escape from reality due to them being bored could be drugs, alcohol,

00:05:50.000 too much alcohol because they have to have an escape. 0.80

00:05:52.880 It's like, oh my gosh, there's so much pressure when you're building a business and you're

00:05:55.320 a startup or an entrepreneur or you're an intrapreneur that there's got to be an escape.

00:05:58.880 Sometimes the escape ends up hurting them and ruining everything that they spent years building

00:06:03.840 just because they want to have an escape.

00:06:06.280 This ends up hurting them.

00:06:07.200 There's a lot of other escapes you can have that doesn't cause you to lose everything.

00:06:11.240 You've got to figure those things out for yourself.

00:06:12.940 Number seven, neglecting health.

00:06:14.620 I will tell you this.

00:06:15.880 One of the best advice I got, I was 30 years old and I met with a few friends and one of

00:06:21.080 my friends says, Pat, every two years as a 30-year-old, you should go do executive health

00:06:25.760 testing at UCLA Medical Center.

00:06:27.760 There's got some good ones in Minnesota or here in Dallas.

00:06:30.540 You spend $4,000 and from morning till night, they take you to different doctors.

00:06:35.400 They check your heart.

00:06:36.260 They check your bone.

00:06:37.060 They check you for cancer.

00:06:38.940 They check your liver.

00:06:39.740 They check everything.

00:06:40.920 Triglycerides, cholesterol, all this stuff.

00:06:43.400 And you get a report and say, here's your health.

00:06:45.040 Here's what you need to improve and there's the recommendations.

00:06:47.580 If you're above 30, I recommend you doing it every two years.

00:06:50.280 If you're above 40, I recommend you doing it every one year.

00:06:52.640 Especially if you're hard-charging, your health is going to hurt you with a lot of momentum.

00:06:57.980 A lot of times, Taipei's just kind of, oh, it's okay.

00:07:00.040 It's not a big deal.

00:07:00.880 It's my teeth.

00:07:01.500 It's my health.

00:07:02.140 It's fine.

00:07:02.740 I don't care.

00:07:03.460 You've got to really pay attention to this.

00:07:04.760 This could really take momentum out of your business.

00:07:06.300 Number eight is sex. 0.69

00:07:07.440 Here's the thing with sex.

00:07:10.320 Driven, competitive, I want it all.

00:07:13.740 High testosterone level comes with that.

00:07:15.900 It's with the territory.

00:07:17.540 And a lot of times, it's like, man, she's so pretty and she's so this.

00:07:20.920 It's like, even the people that are saying this, oh, well, Pat, you know, you're acting

00:07:25.400 as if, you know, everybody doesn't have the sex issue.

00:07:28.840 Everybody has a sex issue. 0.97

00:07:29.940 I have the sex issue.

00:07:31.040 I wake up in the morning, I'm fired up.

00:07:33.660 You know what I'm saying?

00:07:34.780 As any man, it's like, oh, I'm ready to get into something, right?

00:07:38.640 It's men.

00:07:39.220 It's how we're wired.

00:07:40.780 But also, at the same time, there's a part of this that you've got to control.

00:07:43.680 There's systems for it, by the way, especially for those guys that are married.

00:07:46.240 I have a certain system I've taught hundreds of people that are personally mentored.

00:07:50.040 It's not something I'm going to put on video, but I have talked about it many, many times.

00:07:53.960 You've got to figure out a way, because this has been a distraction for a lot of people

00:07:57.260 over the years.

00:07:58.120 Hopefully, you can figure out a system that works for you.

00:08:00.100 Number nine, wanting what's taken.

00:08:02.580 Sometimes this goes with number eight.

00:08:04.580 Wanting what's taken.

00:08:05.740 The challenge with wanting what's taken is sometimes you take it away from somebody that

00:08:11.380 you are really going to piss off in a big way, and that person's vendetta is going to

00:08:16.460 be to come after you.

00:08:17.520 It could be years, but they're thinking about you.

00:08:19.980 So sometimes at risk of wanting what's taken, I'm not telling you do it or don't do it.

00:08:23.700 Just know what the repercussions are before you take something away from somebody.

00:08:28.280 And by the way, keep this in mind.

00:08:29.500 When it comes down to capitalism, in the world of capitalism, it's about competition.

00:08:33.220 Whoever's able to wake up in the morning, go out there and do the best to get the best

00:08:37.400 product to them, that's competition.

00:08:38.920 But when I say wanting what's taken is, you know, somebody is married and somebody is

00:08:44.100 this and you're going and trying to take something that's taken, that's a lifelong commitment

00:08:48.500 from somebody to commit revenge to you if you don't do that part right.

00:08:52.340 Number ten, looking down at people.

00:08:54.320 This is a challenge.

00:08:55.160 Sometimes type A's behind closed doors will be like, well, you know who I am. 0.54

00:08:59.540 You know no one's at my level.

00:09:01.980 And that feeling of behind closed doors is also felt in open doors.

00:09:07.100 People are like, man, I just, when I'm around this person, he's so snobby, it's so annoying.

00:09:11.020 Like, he doesn't think anybody's better than them.

00:09:13.880 There's a big difference between confidence and arrogance.

00:09:16.840 When you start looking down at people, guess what?

00:09:19.400 People below you leave to go work for other people that look up and say, I think you could

00:09:24.920 be one day dot, dot, dot, dot, dot, even bigger than where I'm at right now.

00:09:28.640 I think one day you could be the CEO.

00:09:30.100 One day you could be the CMO.

00:09:31.040 One day you could do here for the company.

00:09:33.260 Then they keep those types of people.

00:09:34.720 Looking down at people is a tough thing.

00:09:36.200 It hurts a lot of type A folks.

00:09:37.900 Eleven, thinking they can outsmart everyone.

00:09:40.160 Look, I got three kids.

00:09:42.540 I got a seven-year-old son who's very smart.

00:09:44.980 Then I tell him, I say, he says, Daddy, am I smart?

00:09:47.860 I said, you're smart.

00:09:48.660 He reads books and he can recite the sentences, like stuff that's just very weird, how we recite

00:09:53.100 these sentences.

00:09:54.600 I said, you're very smart, buddy.

00:09:55.800 But Daddy's goal is to help you start transitioning from being smart to being wise.

00:10:00.340 Wisdom is the reason why people follow folks half their age.

00:10:04.780 If somebody is wise, no one says, oh, you're only 22 years old.

00:10:07.780 I'm 44.

00:10:08.400 I'll never work with you.

00:10:09.820 People like to do business with people who are wise.

00:10:12.380 Smart is short-term.

00:10:13.700 Wise is long-term.

00:10:15.280 Smart is one-dimensional.

00:10:16.860 Wisdom is multi-dimensional.

00:10:18.320 So there's a big difference between you thinking you can outsmart somebody.

00:10:21.340 Because here's the reality of it.

00:10:22.640 As smart as you may be, there's somebody smarter than you out there.

00:10:25.940 But if you think wise, you'll be able to attract smart people that want to work with you.

00:10:31.220 Sometimes if you think you're the smartest person, other smart people don't want to work

00:10:33.920 with you.

00:10:34.560 But if you're wise, smart people can be around you and say, you know what, I don't mind working

00:10:37.180 with this guy.

00:10:37.980 He seems very wise.

00:10:38.880 The way I work with him, I can still have my own identity.

00:10:41.060 It works.

00:10:41.960 Sometimes that hurts them.

00:10:42.980 Number 12, entitlement.

00:10:45.440 Hey, because I've won in the past.

00:10:46.880 Do you know what I did in my last company?

00:10:48.160 Look at my resume.

00:10:49.040 Do you realize who I am?

00:10:49.920 Do you know my name?

00:10:50.740 Do you know what I've done in my life?

00:10:51.920 You want me to go and start working from the bottom?

00:10:53.700 You're out of your mind.

00:10:54.800 I'm never doing this.

00:10:56.500 One of the reasons why I respect Arnold so much is when he was done being a governor

00:10:59.540 and he went through his whole scandal, he wanted to go back into Hollywood.

00:11:03.040 They asked him and they said, so what do you want to do with you going into Hollywood?

00:11:06.780 He says, what movie are you going to do?

00:11:08.200 He says, I've got to go out there and earn my stripes like everybody else.

00:11:10.560 He says, but what are you talking about?

00:11:11.820 You've built so many great movies.

00:11:13.420 He says, I know, but I'm starting all the way from the bottom again.

00:11:16.180 I haven't acted for eight years.

00:11:18.060 I've got to win these casting guys.

00:11:19.780 I've got to win the directors and the producers.

00:11:21.980 But I'm going to go out there and work.

00:11:23.160 And guess what happened?

00:11:23.920 And he came back up because he's willing to earn it again.

00:11:27.240 Number 13, they don't know when to stop.

00:11:30.140 Now, this is a good and a bad thing, right?

00:11:32.920 Because a lot of people say, well, Elon doesn't know when to stop.

00:11:36.000 You know, Krikorian, the former founder of, the owner of MGM, he didn't know how to stop.

00:11:40.440 90 years old, he's still negotiating.

00:11:42.840 John Wood, 99 years old.

00:11:45.080 You know, you see some of these guys.

00:11:46.360 They just don't know when to stop.

00:11:48.740 That part is actually okay.

00:11:51.920 But sometimes type A personalities, because they don't know when to stop, they also don't enjoy the journey.

00:11:57.740 Sometimes you've got to be able to stop and say, pretty cool what we're building here.

00:12:01.680 You know what I'm saying?

00:12:02.320 Like, over here in the company, a lot of people will say, Pat, you know, we crossed 100,000.

00:12:06.140 You didn't celebrate.

00:12:06.680 We crossed a million.

00:12:07.960 You didn't celebrate.

00:12:08.520 We just crossed a certain top line revenue.

00:12:10.780 You didn't really celebrate.

00:12:11.460 We just crossed a major mark.

00:12:12.980 You didn't celebrate.

00:12:14.300 Yeah, and sometimes it's good to have people around you say, hey, the board forced me the

00:12:18.560 other day.

00:12:18.900 The board's like, listen, hey, hey, hey, Patrick, we have invested into you.

00:12:23.260 You need to go take a few days and take a break with you and your wife and kids.

00:12:26.860 The board asked me to leave and go take a break.

00:12:31.000 So I went to Breakers in West Palm Beach.

00:12:33.740 Had a great time right outside of Mar-a-Lago.

00:12:35.760 We had a great time.

00:12:36.400 And then Monaco for my 10-year anniversary.

00:12:38.860 The board is saying, go, go, go.

00:12:42.040 They're telling me to go.

00:12:43.340 Why?

00:12:44.140 Because sometimes we've got to take a time out and say, this is pretty cool what we're building.

00:12:47.580 Taipei sometimes forget to do that.

00:12:49.080 Last but not least is overspending.

00:12:51.580 Overspending is money's coming in.

00:12:53.540 I want to buy this.

00:12:54.180 I want to buy that.

00:12:54.680 I want to buy this.

00:12:55.200 I want to buy that.

00:12:55.880 Nothing wrong with getting yourself nice things.

00:12:58.220 There's some people on social media that make you feel guilty if you get a Ferrari or a

00:13:01.520 Lambo or Rolls or a big house or any of this stuff.

00:13:04.260 If it moves you, don't let anybody tell you don't go get them.

00:13:07.500 Because if it moves you to do bigger things, guess what?

00:13:09.840 Go get them.

00:13:10.980 You know, when Cuban made his first money, he went and bought a $500,000 membership to

00:13:15.860 an airline.

00:13:16.880 And he went and traveled all over the world.

00:13:18.260 That was a driver to him.

00:13:19.900 He went and cut a check and bought a $60 million check.

00:13:22.540 That was a driver to him.

00:13:23.660 Can you imagine if it wasn't a driver, if somebody said, it's not a good thing for you to go

00:13:27.560 out there and buy the jets and the cars.

00:13:28.940 What if I want to do it?

00:13:30.120 Nothing wrong with that.

00:13:31.440 But make sure you're not overspending to the point where you don't have the resources to

00:13:36.220 keep your business in business when tough times come.

00:13:39.660 Because when it comes, it's going to matter how much liquid cash you have to be able to

00:13:43.880 survive the one year, two years, three years of tough times you could go with a business.

00:13:47.600 Because ruckus and market and a lot of weird things can happen in the market at any point.

00:13:52.440 If you're not prepared, you could be out of business.

00:13:54.920 Thanks everybody for listening.

00:13:56.280 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:14:00.880 Give us a five star.

00:14:02.300 Write a review if you haven't already.

00:14:03.780 And if you have any questions for me that you may have, you can always find me on Snapchat,

00:14:07.860 Instagram, Facebook, or YouTube.

00:14:09.820 Just search my name, Patrick VidDavid.

00:14:11.720 And I actually do respond back when you snap me or send me a message on Instagram.

00:14:16.520 With that being said, have a great day today.

00:14:18.440 Take care everybody.

00:14:19.160 Bye-bye.

Valuetainment - September 25, 2019

Episode 371： Type A Personality Explained

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