Principles are ways of successfully dealing with reality to get what you want out of life.
Ray Dalio, one of the world’s most successful investors and entrepreneurs, cites principles as his key to success.
Principles are ways of successfully dealing with reality to get what you want out of life.
Ray Dalio, one of the world’s most successful investors and entrepreneurs, cites principles as his key to success.
In 1975, Ray Dalio founded Bridgewater Associates, out of his two-bedroom apartment in New York City. Over forty years later, Bridgewater has grown into the largest hedge fund in the world and the fifth most important private company in the United States (according to Fortune magazine), and Dalio himself has been named to TIME’s list of the 100 most influential people in the world. Along the way Dalio discovered unique principles that have led to his and Bridgewater’s unique success. It is these principles, and not anything special about Dalio, that he believes are the reason behind whatever success he has had. He is now at a stage in his life that he wants to pass these principles along to others for them to judge for themselves and to do whatever they want with them.
For years, I have asked each person who reports to me to take about ten to fifteen minutes to write a brief email of what they did that day, the issues pertaining to them, and their reflections. By reading these updates and triangulating them (in other words, seeing different people's takes on what they are doing), I can gauge how they are working together, what their moods are, and which threads I should pull. Over the last few years, I've developed this into a software application that pulls these updates into a dashboard, which makes them much easier to track, record metrics, and respond to than dealing with dozens of separate email threads. It also allows people to easily provide helpful data--like their morale, how heavy their workload is, issues they want to escalate--on a daily basis. I and those I work with find this simple tool invaluable in helping us stay in sync. Also, at the company level, it provides valuable information for taking the daily pulse of what's going on (morale, workloads, specific issues, who is doing what, etc.).