Imagine two guys. One is a typical dreamer, looks for new experience continuously, adventures, enjoyment, doesn’t really valuate risk (or understand its existence) and always stays positive. He asks a girl out and when she says “only if hell freezes over”, he interprets as if “there is a chance ”. One that doesn’t mind venturing into new businesses with no capital, experience, connections. He is the What if? guy, let’s just call him Positive Peter.

His friend, the What if! guy on the other hand is different. Not the opposite, but different. He likes security, calmness, no troubled water, no risks, no new stuff. Whenever he faces a situation he thinks about the potential danger. What if we fail, what if we lose money, what if we never make it. Being very careful about every step on the way. He is the guy who doesn’t ask a girl out because she won’t say yes anyways. He doesn’t start a business because people might ridicule his idea, it might fail, he might lose his savings. Let’s just call him Secure Sam.

 

The two guys by themselves

If these two guys go their own ways, rarely is there a positive outcome. Peter will engage in many ventures, but probably take on too many risks, engage in shady business because he doesn’t see the risks in them, forget minor details, like paying taxes and submit official declarations, documentation. Peter will not make a business plan or forecast cash flow, because that’s boring. We would run business based on partial information and a good amount of gut feeling. Doesn’t sound so good, right?

On the other hand, Sam will potentially not start a business, because that’s too risky. He will not invest money in anything that has a potential of loss (and therefore lose any possible reward). He will do good running certain type of businesses, like fixed income management, pension funds, etc, but much less capable of growing innovative and ground breaking endeavors. That’s not a good sign either.

 

When Peter and Sam meets and clicks

Now imagine a world where the two personalities meet and start working together efficiently. I have to add the word efficiently, because the whole thing doesn’t work if they don’t “click”. Even if their risk taking profile is significantly different, they must have something in common. Common interests, common motivation, common past. When this happens, magic can happen as well. If you think about such partners as Steve Jobs & Steve Wozniak, you will understand it better.

It rarely happens that somebody has both personalities, a risk seeker and risk avoider and can manage it well. My lovely wife and myself are very similar to the above. She is more of a dreamer, I’m more of a feet-to-the-ground guy. Finance guy That’s why we make a good couple.

If the relationship is balanced and there is a strong common motivator, such as a company to run together with both parties being investors, magic can happen. The motivation drives both forward and their profile makes sure that risks are being taken, but are evaluated carefully. It is inevitable that sometimes Positive Peter, sometimes Secure Sam will have a louder voice, but that’s normal. Nothing is balanced in the short term (as I recently learned from prof. Daniel Kahneman), the important thing is that it is in the long term.

We are almost done, right? Except the most important thing. You should respect each other’s opinion. Imagine if the above 2 gentlemen didn’t listen to each other. You would not have an iPhone in your hand right now. Listen and let yourself be heard. The only way to go is the common way. If there is no alignment, things will just not move forward and the whole relationship halts, business dies.

 

How to meet your other half

I assume that you know yourself and you know your risk profile as well. You are either Peter or Sam, or strongly lean to either side. If you are Sam, seek a partner who is more of a dreamer than you are. Seek their company and if you have or can find a common motivator, that’s a good start. You should also click, which guarantees that you can work alongside each other for the longer term. On the contrary, if you are Peter, you should find the company of logical people who can evaluate situations better than you can, understand all elements that you find boring or consider unimportant. In business these are usually the finance people.

Once you meet, don’t forget to respect. This is the most important and oftentimes the most difficult one. My coach says that people have a hard time understanding others with a different mentality and personal characteristics. I think she is right, but having a hard time doesn’t mean it’s impossible to.

 

Conclusion

I might have described the obvious, but maybe by writing it out (and you reading it through) we realized that running a business efficiently, sometime requires two different personalities, who have opposite or differing attitudes towards risk. A continuously positive thinker and a security seeker. These two combined can do miracles if a common motivation or objective drives them.