Your Risk Tolerance Scale

In this episode of Business Brain, Dave and Shannon discuss the impact of handling bad reviews on social media and avoiding public venting. They highlight the importance of incentivizing positive reviews and maintaining a constructive approach towards feedback.

Transitioning to risk tolerance in business, they share personal insights and stress the significance of recalibrating one’s risk scale over time. Reflecting on past decisions, they emphasize making informed choices and offering tailored advice to clients. Dave and Shannon propose developing a risk assessment tool to help clients assess their risk tolerance levels accurately.

They emphasize transparency and guiding clients based on individual risk profiles. Concluding with the concept of assigning alter egos to different risk levels, they encourage listener feedback to improve their advisory approach and promote an open dialogue.

• 00:00:00 Business Brain – The Entrepreneurs’ Podcast #562 for Casual Friday, June 28th, 2024
  • June 28th: National Food Truck Day
• 00:01:20 Don’t Be Your Own Bogeyman
  • Don’t Create Your Own Negative Reviews
• 00:05:46 SPONSOR: Fastmail, the email provider who puts your privacy first. Visit Fastmail.com/BusinessBrain to try free for 30 days and then 10% off your first year.
• 00:07:43 Teaching Risk Tolerance
  • Wipeout Risk
  • Recalibrate your risk scale REGULARLY
• 00:16:13 The ComScore Gamble
  • Complacency Risk
  • If you choose not to decide, you still have made a choice
• BB 562 Outtro
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