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
Have clear paths for appealing/escalating when someone thinks their boss, peer, or subordinate is wrong.
There are three different levels of disagreement:
- Those that should be worked out between the two people involved (with peers/subordinates having the option to escalate if they don’t agree),
- Those that require a good mediator, and,
- Those that are more like a legal case.
At Bridgewater, we have a Dispute Resolver to help identify the appropriate level and path for resolving, but overall the general path should look like this: 1) Mutually agree on mediators who will help you to resolve your disagreement and 2) reach agreement in ways that are consistent with our agreed-upon principles (rather than in any ol’ way that you all happen to decide). Be sure to record these discussions for review if review is required.
Work Principle
- Recognize How to Get Beyond Disagreements
Have clear paths for appealing/escalating when someone thinks their boss, peer, or subordinate is wrong.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
