In this video, Patrick Bet-David breaks down what he looks for when finding a running mate. It’s necessary to have the best people on your team in order for your business to succeed. The ideal running mate is one who’s fair, reasonable and honest. He or she is obsessive, driven and goes non-stop. This person is a big thinker and a true believer, who’s an expert at what he or she does with a massive amount of contacts around the world. However, no one is perfect and to find someone like that is extremely rare. Here’s a breakdown of what Patrick looks for a potential running mate using a scale of 0 to 10 with 10 being the best possible score.
Character: Always ask yourself: Is this someone I want to do business with? Anything lower than a three are people who lie, cheat and steal at all costs even if it ruins you and your reputation. So that’s a no-brainer. Anyone between at four – seven is selfish, yet they’re honest. It’s not a bad thing to do business with selfish yet honest people. They want to do business for themselves but there’s also a better sense of honesty from them. Then you have the people who are an eight – ten and above, who are fair, reasonable, honest and a team player. These people have the most solid character. They’re the ones you want to have on your team and/or do business with.
Trust: Strangers aren’t usually trustworthy. It’s probably not comfortable doing business with someone you don’t know very well regardless of what industry you’re in. They rank amongst the one – three range. Meanwhile, the average running mate falls between the four – seven range. Those are the people who you would consider a friend or an acquaintance. Although they may seem good enough, the better option for a running mate would rank amongst the eight – ten range. These people are extremely trustworthy.
Work Ethic: It’s somewhat easy to gauge the work ethic of a potential running mate. The lowest ranking workers are usually apart of the ‘4:59 Club.’
These are the people who you may trust and admire for their character, but they cannot wait to walk out of the office to go home at the end of the day. Then you’ve got those who fall within the four – seven range, who do the sprints of hard work. They’ll basically work hard for about 30 days, then disappear for 60 days. They’ll work hard for 90 days, then you won’t see them for six months. Then you’ve got those who are obsessive, driven and go hard non-stop. Sounds great so far but that’s not enough.
Vision/Someone who’s bought in: There are three perspectives that people with vision could have. The worst of them all are the haters and small thinkers who criticize or shoot down every creative idea that comes their way. The next tier is full of doubters and average thinkers. These people can consider the ideas but they still present some type of doubt that the ideas will actually work. Then you have the true believers who go all-in on an idea and will think of other ways to make it work.
Competency Skillset: It’s difficult to find someone with the proper competency level to accurately perform in their position. At the lowest tier, you’ll obviously find the run-of-the-mill amateur. Now if they have all of the esteemed qualities but are amateurs, they’re still good to have on the team. They still won’t add much value to the company, but you’ll sleep better at night unlike with someone who’s expert but has all the low-tier qualities we discussed earlier.
Rolodex Contacts: Anyone with contacts in your respective field adds value to your company, but if you’re focusing on the details, then you want to know what kind of contacts your running mate has. Are they limited, broad or specialized? Are they just local, national or global? While the number of contacts doesn’t necessarily determined their overall worth, the extent of their rolodex is always an added bonus.
Watch the entire video to find out what’s the best mix of these qualities.
