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
When someone is "without a box," consider whether there is an open box that would be a better fit or whether you need to get them out of the company.
Recognize that if they failed in that job, it is because of some qualities they have. You will need to understand what those qualities are and make sure they don't apply to any new role. Also, if you learn that they don't have the potential to move up, don't let them occupy the seat of someone who can.
Remember that you're trying to select people with whom you want to share your life. Everyone evolves over time. Because managers develop a better idea of a new hire's strengths and weaknesses and their fit within the culture than what emerges from the interview process, they are well positioned to assess them for another role if the one they were hired for doesn't work out.
Whenever someone fails at a job, it's critical to understand why they failed and why those reasons won't pose the same problems in a new job.
Work Principle
- Constantly Train, Test, Evaluate, and Sort People
- Train, guardrail, or remove people; don't rehabilitate them.
- When someone is "without a box," consider whether there is an open box that would be a better fit or whether you need to get them out of the company.
- 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
