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.
Life Principle
Be clear on whether you are arguing or seeking to understand, and think about which is most appropriate based on your and others' believability.
If both parties are peers, it's appropriate to argue. But if one person is clearly more knowledgeable than the other, it is preferable for the less knowledgeable person to approach the more knowledgeable one as a student and for the more knowledgeable one to act as a teacher. Doing this well requires you to understand the concept of believability. I define believable people as those who have repeatedly and successfully accomplished the thing in question--who have a strong track record with at least three successes--and have great explanations of their approach when probed.
If you have a different view than someone who is believable on the topic at hand--or at least more believable than you are (if, say, you are in a discussion with your doctor about your health)--you should make it clear that you are asking questions because you are seeking to understand their perspective. Conversely, if you are clearly the more believable person, you might politely remind the other of that and suggest that they ask you questions.
All these strategies come together in two practices that, if you seek to become radically open-minded, you must master.
Life Principle
- Be Radically Open-Minded
- Practice radical open-mindedness.
- Be clear on whether you are arguing or seeking to understand, and think about which is most appropriate based on your and others' believability.
- Practice radical open-mindedness.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
