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
Remember that a good plan should resemble a movie script.
The more vividly you can visualize how the scenario you create will play out, the more likely it is to happen as you plan. Visualize who will do what when and the result they'll produce. This is your mental map of your machine. Recognize that some people are better or worse at visualization. Accurately assess your own abilities and those of others so you can use the most capable people to create your plans.
Work Principle
- Design Improvements to Your Machine to Get Around Your Problems
Remember that a good plan should resemble a movie script.
- Put yourself in the position of pain for a while so that you gain a richer understanding of what you're designing for.
- Visualize alternative machines and their outcomes, and then choose.
- Consider second- and third-order consequences, not just first-order ones.
- Use standing meetings to help your organization run like a Swiss clock.
- Remember that a good machine takes into account the fact that people are imperfect.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
