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.
Work Principle
Understand that the most important RPs are those responsible for the goals, outcomes, and machines at the highest levels.
Give me someone who can be responsible for an entire area--someone who can design, hire, and sort to achieve the goal--and I can be comfortable things will go well. These are the most important people to choose and manage well. Senior managers must be capable of higher-level thinking, and understand the difference between goals and tasks-- otherwise you will have to do their jobs for them. The ability to see and value goals is largely innate, though it improves with experience. It can be tested for, though no tests are perfect.
Work Principle
- Remember That the WHO Is More Important than the WHAT
- Recognize that the most important decision for you to make is who you choose as your Responsible Parties.
- Understand that the most important RPs are those responsible for the goals, outcomes, and machines at the highest levels.
- Recognize that the most important decision for you to make is who you choose as your Responsible Parties.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
