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.
You almost certainly can't do all these steps well, because each requires different types of thinking and virtually nobody can think well in all these ways. For example, goal setting (such as determining what you want your life to be) requires you to be good at higher- level thinking like visualization and prioritization. Identifying and not tolerating problems requires you to be perceptive and good at synthesis and maintaining high standards; diagnosis requires you to be logical, able to see multiple possibilities, and willing to have hard conversations with others; designing requires visualization and practicality; doing what you set out to do requires self-discipline, good work habits, and a results orientation. Who do you know who has all those qualities? Probably no one. Yet doing all 5 Steps well is required for being really successful. So what do you do? First and foremost, have humility so you can get what you need from others!
Everyone has weaknesses. They are generally revealed in the patterns of mistakes they make. Knowing what your weaknesses are and staring hard at them is the first step on the path to success.