Diddy & His Mentor Ray Dalio | Inside a Meeting

My brother, how good to see you, sure, yes, you have been. I am good how are you. I'm doing great, I look good, you look fit, yeah, come on in, first of all, I want to thank you for stopping by while we're in town and this is a once in a lifetime experience for anyone to have a one on one conversation with you about the beginnings and I met you on Forbes 100 Great Business Minds, which was, you know, I'm very honored to be there and I'm grateful that my last name ends in C and yours ends in D because that's how we met.

We were right. I was in front of you because we were going to eat steak to take the full photo. and um, I wanted to ask you a couple of questions directly about the things that I highlighted in the book. The first thing was, but what is your definition of radically open-mindedness? It's simultaneously having an opinion like, let me give you this, but you believe it. should go this way, yeah, and then you say to yourself how do I know I'm right, maybe that's wrong, that's the best I can be and then the ability to listen and then challenge for someone to come to you with a idea and say Okay, let's do this, what do you think about it to harvest the best around you, but classify it with your own mind?

So I say be open minded and assertive at the same time, don't give up your assertiveness but be curious like I am. I harvest the best because the biggest problem that most people have is that they become so stubborn that they cannot assimilate it and the worst problem is the worst tragedy for man, almost any individual, is that they are tied to pine nuts that are wrong. and they don't want to be stress tested so when your Oakley is open minded you can say "hey man" I really think it should be this way and then at the same time tell smarter people that You know they'll throw you out of there.

I tried and I tried to say, "Okay, now let's see how the stress tests are done so then I can get to the best or how I harvest." This will be very important for you to gain your influence because you want to reach this new high level. and you want to do a lot of things and to do a lot of things you're going to have to make the most of other people, but you also want it to be of great blood just the way you want it because you have a unique ability with your tastes and everything to be able to make those decisions, so that you know what's great and what's not, so from there you have to choose the people who can do that and who can deliver what you can. do to find people who are as good or better than you and then to get that advantage the key is to try to find out what you are not good at, write down those things that you are not good at and then you will get the people who are good at those things and then you get the right big leverage, then you think about what you're not good at and you get that big leverage and then you get sympathy even on the things that you're good at, that's great and like I'm increasing my influence and I'm building my equipment.

What advice would you give me on how to find the best in class? But the first thing you should do for each job is have a spec sheets, you know the specifications for that job, think about what are the most essential elements for each job, because each job requires a different type of talent, okay, go ahead, We live in a time where people know how to give really good interviews, so while I was building, I got fooled a couple of times. Right now, a very detailed spec sheet, they may say they understand it, but then when he gave me the appearance that they understand the job and they do it. a stellar interview, but you know, when we've been in the trenches for three months, yeah, I don't think so, here's the deal, what you do is you use the background checks from the personality profile tests and the resume and I do something called reversing. 360, so to know not only their resumes, but also to know everyone who knew them in the past, then you go and do the verification, so you have to start with a spec sheet, that is, not only the skills, there were three things that everyone brings to you.

Skills are what almost everyone hires for. It is the least important of the three things. The most important things are values. being together, the second thing is the skills like some people like you, a very creative thinker, someone can be very reliable, they are not creative, every person has a natural ability and skills that they have developed, those are the things. that makes you excel or worse at things and then you have skills and abilities it's like you know, okay, you can play the piano or you can sing or you can do that, so every Bert learns, but if you start looking, okay?

They are the values ​​of the person where that comes from. What were you going to have Sympatico because at that deep level you have to have that simpatico? You're on a mission together, it's not just a job, right? and then the ability of it, then you have to get the spec sheet. Once you know the language and master it, they come and get to know you and then you do those kinds of writing tests and then you see when you start with them and the tests don't. it ends well because you're testing them every day and that's how you do it and you can even trust others to make those selections for you, you know, sometimes, because I've done this, I'll look at those in particular. results and I can say okay, that's that kind of person and like that kind of person, a good click at work.

I feel like I need a hard reset. I feel like I've been this computer that's been going and going and going and going and going nonstop. I know you break things down into personal and business principles, but for someone coming from a success story, what advice would you give me on how to It starts to chip away at your confidence a little bit and how you know what steps you took to reset and get out of that and get to a point where you started to flourish in life and became the best that you can be.

It's like he knows that paying for those reflexes equals progress. you had the accident you have the experience which is part of self discovery like what do you want now yes you are at a juncture what really matters to you yes right yes because you are talking about excellence yes okay you are talking about keeping the bar high yeah so let's talk about how to keep the bar high with that determination and then simultaneously deal with people who maybe don't have the bar high because that's what I hear you, yeah, okay, exactly, that's the deal, okay, now I want to go, understand and explore that, okay, how to keep the bar high and then also deal with them, okay, because you have to classify them and some people keep jumping because I kind of don't want it, but I want to know how.

Don't say to yourself: how are you doing with that man? I'll tell you the truth, like I had to step away from the game because he got to a point where I didn't feel like I was playing with players. of my caliber and I felt like I was investing so much time in the now and in the artwork that you know, when the time came, you know because of my investment in my future as it relates to my business team and the executive team around me. , they know I missed it. I got to a point where I was having a lot of success in so many different areas and so I wasn't paying attention to make sure I was still nurturing the team and then when I had to come back from a tour and I had to go back into business mode, you know, I realized that I had surpassed my team, it wasn't that they were bad, it's just that they weren't at the level of excellence that I was at that level of excellence is very, very difficult for me.

What's interesting to me is that I've seen this happen over and over again with different people and we've had conversations with people who play great sports. teams people who run great teams anyway and have that element of excellence and how to do it so that you're absolutely not going to compromise on excellence that you shouldn't, yeah, and so on at the same time, like how do you get the path just find someone who's really good at delivering that and make them a good partner, so whether it's terrors or some friend who says I'm doing my job delivering those types of people to you, yeah, yeah, okay, because you don't. are you. you're going to do this, the wall of selling yourself and you may not even be the best person to know how to do it because you have to organize for the exam and you have to manage and whatever it is, I think that's what I'm dealing with. to confess That's something I'm not good at I don't think you know I'm good at that I think there's something you better break free once you get it and once you do it it's a Kick because you do it because, like you say, you're punching, you're stretching to that level and then if you don't have great talent around you, first of all, it's not a kick, it's a pain, it's miserable because then I know you're just moving forward and what was the kick, the kick, the fun or the fun, okay, the fun, the joy, okay, it's great to be surrounded by wonderful people, yes, it's a disappointment to have people who can't play, although that's what I'm saying, okay, so I'm saying it's a kick as if someone was my father a jazz musician, so I think about jazz, you know, and I think, wow, great jazz musicians.

I listen to the great Jeff whoo and I hear that and I say wow, okay, or a great baked basketball team or any other group of people to play that basketball, you use that existing example to play, it's a kick, okay and it drags you down if you can't do it, but in order. to do well what you want in your life you have to ask who is going to be able to give it to me because then it is a task for someone who is going to have talent and knows how to produce and deliver talent as if you think about it, if you are managing a team , it doesn't mean you're going to complain and do all that finding and ranking talent or whatever, so you're going to be the captain of the team and then somebody. out there it's going to say um I know how to explore I know how to test I know how to do it tell me who's playing good basketball with you let me put this one on the court how do you find it? okay, no, no, no It's not like that, let me recalibrate because it's my mission, the boy next to you is your talent, it's my mission to deliver those stars when you start to realize that you don't have to do everything yourself, It's okay, whatever impediments you have, you can overcome them. the best talent in the world to do that with you and it doesn't take much time, it costs you almost nothing compared to the cost of wasting time trying not to get the right people there and then you go and you and you refine the process, but don't let yourself be the guy who will now go on this mission and go on that mission and go on that mission okay, yeah, okay, yeah, you've got your talent scout, you play nice, that's the definition of a

mentor

-mentee relationship. .

I connected with me, you know, I have my marching orders, I know what to do with that, yeah, thanks for that, and then we'll see, yeah, okay, how do you do it? Yes, because I say that success is a five-step process: first you have to know what you are going to do to achieve your goals, then you find your problems, number two, you find your problems on the way to your goals, then you have to diagnose those problems and get to their root causes. problems and that could be a weakness that you have or a weakness that someone has, but you better get to the root cause and then once you have the root cause, you can design something that you write on your to-do list.

I have to do this which is design number four and then number five you have to do it yeah you just can't say okay now I'm going to do that and I'm not going to push for the results and if you could do it over and over again that's one formula for success, you just have to do those five things, you have the formula for success, but not everyone is good at all those steps, so it's okay, you don't have to be good at everything, you just have to find the right people that they are good. we're not good and then you go through the last thing I wanted to ask you that day: who are some of the leaders you admire and why one guy comes to mind: Muhammad Yunus Muhammad Yunus is the man who invented microfinance and is changing Jeff Canada Geoff Canada Harlem Children's Zone yeah yeah okay he's a shaper yeah yeah he's a shaper and he can turn you into any disruptor a disruptor and a smart good yeah so Jeff Canada is one of those and let's say something else, we are also in a time where it is great to be successful.

Is it great to be a millionaire? Is it great to be a billionaire? Yeah, okay, we want to get those things across to people. You can have character at any level. operating, the people I admire the most are these people that you know have great character and they give it to other people, those are the people, but there are many names that come to mind when you ask. I have questions, so here are the beginnings of the book for everyone who hasn't read it yet. Explain why you wrote the book and I think why it is used.

You know, so people know that after reading it, can you explain one more to me? It's time for why you wrote this book and why it is so important to your legacy. I believe there are three phases in a person's life: the first phase is that you depend on others in your learning, thenYou graduate and then you enter the second phase of your life and more and more people depend on you and you are working and you are trying to be successful. I am transitioning from the end of that phase to the next phase of my life and the most important thing to me is helping other people succeed.

I learned certain things along the way that helped me succeed. Any success I have had has not been thanks to me, but to principles that I learn along the way, but you know. I have a late in life collection and you want to pass it on, so I wanted to pass it on so you can know that I'm at the stage of my life, yes, I'm 70 years old, yes, I want to pass on what it's been like. good for me so that's what I want to do and then when I do it I can have peace so when I look at it and I know how it reverberates not just helping you because it's a very important thing not just helping. you, but to help others, that you're trying to help, it resonates and I feel good, like if I did what I did, you should have done it and then I'll have peace, yeah, okay, that's peace and then I could save his life. life.

Yes, I play with my grandchildren and do all the things that still excite me, so because of that and because of that and because of that, the most important part of all this is to come to that peace that I want and don't want to do. the most money I want to be known for giving away the most money. I am known as this man called Mansa Musa, it is part of our history, he was the African king and the richest man in the world and the changes he made along the way. He would go to the communities and to Africa and I'm talking about the way that he would just help the underserved and the disadvantaged.

He is a great hero to me. I will send you information about the Mansa Musa man, the role models. well and I'm very interested but it becomes the natural arc it's instinctive that what happens is but look you didn't have anything I had nothing and then you go to the arc and you acquire things and then it's fine and then people also pass by, it's their status , it's proven stuff and all that, you get through it, whatever it is, it's the craft and all that, and then you feel confident and it doesn't take much beyond a certain point to have more than you feel confident in and then you start to empathize, you start to relate, you start to see in Justices, you start to see these other things happen and you can do that and it starts to bring joy and then you're going to go through those things and what can you go through and so it becomes that the joys change from going nowhere to doing a lot and realizing what will make you more fulfilled and the irony of this is that I never really worked For money there was an irony that is so crazy.

I've never worked for money and it's not funny either. For me it may have been the same for you. I ended up playing a game that I liked and got good at and then they and they gave it to me. I money, if you are good at the game, they give you money exactly, okay, that's what it is now. I think that's a very, very important part of people being successful. People don't realize that most people who are successful earn a lot. money, they're actually just doing their job extremely well and that's a benefit, it's fair and then it becomes something that you can use to help other people because there's a lot of things that you can buy, you know, and then it becomes you.

I know it becomes what you know should be used for us to help each other and to make positive changes, that's right, so when I look at that and say, okay, now I'm in a moment, let's say you get the money and whatever comes along and you can get this or you can get a kid to finish high school and get a job like your school, yeah, and then you know what makes you feel better. Okay, you have to do with what makes you feel best to me. I relate because you relate because you went through it, yes, and it's natural, yes, it's natural, so in our life sometimes we lose sight of that, yes, because people think that the person who has made a lot of money is trying to make a lot of money. money or exploit Yentl or something, instead of just producing things that people like and people pay for the things they like, so that's a good symbiotic relationship, then you take the money and do good things with He, that's the deal. yes, I definitely want to thank you for this vote right here, as an entrepreneur, and I will tell all the entrepreneurs that this is a must read and also, thank you for checking out all the books that you have.

I was given to give to you know people in the community that maybe can't afford it and I gave it to them and it's a great blessing so I want you all to know how pure this relationship is and you know that this is the only ulterior motive we have is to empower people through the information of your journey and all the things you have learned and that we all have to go through as successful entrepreneurs, so it is now official. The principles are a must read if you are becoming an entrepreneur you are an entrepreneur, it doesn't matter if you are between 8 and 80 years old, you know that it doesn't matter, it is never too late to start, but you know that this is a book that will take a few years off your shoulders of the life.

I feel like an entrepreneur and you know that it has been something that has come to me as a blessing because you know that when I read it the first time I was at a certain point in my life, but then at this point where now I am like my second mountain and I'm at a point where I want to be the best. I can understand the process. This here has given me the roadmap, so I'm just going to thank you, let me tell you. I am a big fan of yours because you have what it takes, thank you really, thank you no, I am not dismissing you for your success, yes, I admire you for the type of person you are and for that, for me, the ability to pass. along with the things that are useful and know that you are also going to pass on the things that are useful to you yes, it's a joy, thank you for the joy and I can't let you go without giving me an autographed copy, okay, okay , we can not.

Get a round of applause for Ray Dalio.