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
Recognize that while most people prefer compliments, accurate criticism is more valuable.
You've heard the expression "no pain no gain." Psychologists have shown that the most powerful personal transformations come from experiencing the pain from mistakes that a person never wants to have again--known as "hitting bottom." So don't be hesitant to give people those experiences or have them yourself.
While it is important to be clear to people about what they are doing well, it is even more important to point out their weaknesses and have them reflect on them.
Problems require more time than things that are going well. They must be identified and understood and addressed, while things that are running smoothly require less attention. Instead of celebrating how great we are, we focus on where we need to improve, which is how we got to be so great.
Work Principle
- Constantly Train, Test, Evaluate, and Sort People
- Recognize that tough love is both the hardest and the most important type of love to give (because it is so rarely welcomed).
- Recognize that while most people prefer compliments, accurate criticism is more valuable.
- Recognize that tough love is both the hardest and the most important type of love to give (because it is so rarely welcomed).
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
