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 making sure people are doing a good job doesn't require watching everything that everybody is doing at all times.
You just have to know what they are like and get a sampling. Regular sampling of a statistically reliable number of cases will show you what a person is like and what you can expect from them. Select which of their actions are critical enough to need preapproval and which can be examined later. But be sure to do the audit, because people will tend to give themselves too much slack or could cheat when they see that they're not being checked.
Work Principle
- Constantly Train, Test, Evaluate, and Sort People
- Make the process of learning what someone is like open, evolutionary, and iterative.
- Understand that making sure people are doing a good job doesn't require watching everything that everybody is doing at all times.
- Make the process of learning what someone is like open, evolutionary, and iterative.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
