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
Be willing to "shoot the people you love."
It is very difficult to fire people you care about. Cutting someone that you have a meaningful relationship with but who isn't an A player in their job is difficult because ending good relationships is hard, but it is necessary for the long-term excellence of the company. You may have a need for the work they're doing (even if it's not excellent) and find it hard to make a change. But they will pollute the environment and fail you when you really need them.
Doing this is one of those difficult, necessary things. The best way to do it is to "love the people you shoot"--do it with consideration and in a way that helps them.
Work Principle
- Constantly Train, Test, Evaluate, and Sort People
- Train, guardrail, or remove people; don't rehabilitate them.
- Be willing to "shoot the people you love."
- Train, guardrail, or remove people; don't rehabilitate them.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
