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
Create an environment in which everyone has the right to understand what makes sense and no one has the right to hold a critical opinion without speaking up.
Whether people have the independence and character to fight for the best answers will depend upon their nature, but you can encourage them by creating an atmosphere in which everyone's first thought is to ask: "Is it true?"
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How do you manage the ego aspect though, when the perception of the truth is blocked by how much a person wants to believe his/her viewpoint?
You can manage the “ego aspect” by observing the rewards and punishments that come at you from making decisions a) the open-minded way versus the b) opinionated closed minded way. You will quickly discover that the ego barrier that stands in your way to taking in the best thinking will lead to more painful results than the open-minded path which will lead to more rewarding results.
Work Principle
- Trust in Radical Truth and Radical Transparency
Create an environment in which everyone has the right to understand what makes sense and no one has the right to hold a critical opinion without speaking up.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
