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
Learn about your people and have them learn about you through frank conversations about mistakes and their root causes.
You need to be clear in conveying your assessments to your reports and openminded in listening to their replies so you can work on setting their training and career paths together. Recognizing and communicating people's weaknesses is one of the most difficult things managers have to do. It's important for the party receiving feedback to be sympathetic to the person trying to give it, because it's not easy--it takes character on the part of both participants to get to the truth.
Work Principle
- Constantly Train, Test, Evaluate, and Sort People
- Make the process of learning what someone is like open, evolutionary, and iterative.
- Learn about your people and have them learn about you through frank conversations about mistakes and their root causes.
- 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
