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
Know where the line is and be on the far side of fair.
The line is what's fair, appropriate, or required, as distinct from what's generous, in light of the defined quid pro quo relationship between parties. As mentioned earlier, you should expect people to behave in a manner consistent with how people in high-quality, long-term relationships behave--with a high level of mutual consideration for each other's interests and a clear understanding of who is responsible for what. Each should operate on the far side of fair, by which I mean giving more consideration to others than you demand for yourself. This is different from how people in most commercial relationships generally behave, as they tend to focus more on their own interests than on the interests of others or of the community as a whole. If each party says "You deserve more," "No, you deserve more," rather than "I deserve more," you are more likely to have generous, good relationships.
Work Principle
- Cultivate Meaningful Work and Meaningful Relationships
- Be crystal clear on what the deal is.
- Know where the line is and be on the far side of fair.
- Be crystal clear on what the deal is.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
