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.
Life Principle
Don't avoid confronting problems because they are rooted in harsh realities that are unpleasant to look at.
Thinking about problems that are difficult to solve may make you anxious, but not thinking about them (and hence not dealing with them) should make you more anxious still. When a problem stems from your own lack of talent or skill, most people feel shame. Get over it. I cannot emphasize this enough: Acknowledging your weaknesses is not the same as surrendering to them. It's the first step toward overcoming them. The pains you are feeling are "growing pains" that will test your character and reward you as you push through them.
RECENT USER EXCHANGES
What do you do if you don't have what it takes to confrontproblems ?
As always, if you’re not good at something seek the help of someone who is good at it.
What strategies for problem solving do you value the most?
I love triangulating my thinking about all the important things with the smartest people in the areas I’m trying to make decisions about because I raise my chances of being right and I learn a lot.
Before reading "Principles of Success", problems were always just problems that had a negative effect on me and after reading the book, I have turned my thinking around 180 degrees and now see EVERY problem as a solvable challenge.
Thank you for letting me know. Hearing about your life improving results by understanding these principles is a great reward to me.
How do you discriminate between the problems that you have to solve?
I have to take care of the big risks and big opportunities before I take care of the small ones, and I have to do the must-dos before the like-to-dos.
Should you take action on a problem immediately or think about until you are certain what course to take?
See Principle LP 5.7: Prioritize by weighing the value of additional information against the cost of not deciding. Some decisions are best made after acquiring more information; some are best made immediately. Just as you need to constantly sort the big from the small when you are synthesizing what’s going on, you need to constantly evaluate the marginal benefit of gathering more information against the marginal cost of waiting to decide.
Have you thought about putting your Principles in a Page-a-Day format?
A number of people have asked for this. I will think about it. If you haven’t downloaded the free app, Principles in Action, I urge you to get it because that’s what people seem to love most - it has a 4.9 rating. It has everything in an easy format, including a Coach that gives you the appropriate principle for the situation you are facing plus the ability to save your own principles and get to the appropriate ones when you need them.
Life Principle
- Use the 5-Step Process to Get What You Want Out of Life
- Identify and don't tolerate problems.
- Don't avoid confronting problems because they are rooted in harsh realities that are unpleasant to look at.
- Identify and don't tolerate problems.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
