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
Because it is difficult to see oneself objectively, you need to rely on the input of others and the whole body of evidence.
I know that my own life has been full of mistakes and lots of great feedback. It was only by looking down on this body of evidence from a higher level that I was able to get around my mistakes and go after what I wanted. For as long as I have been practicing this, I still know I can't see myself objectively, which is why I continue to rely so much on the input of others.
RECENT USER EXCHANGES
What do you think about the link between recognizing mistakes and regretting things?
Since there is only the present and the future because you can’t change the past, regret is senseless unless it helps you in the present or future.
From whom do you receive your most constructive feedback?
I receive the most constructive feedback from the people I work with and the members of my family who are openly and helpfully critical.
How do you give good feedback without alienating colleagues as well as assessing their feedback?
I suggest that you sit down with them and divide how you would like to be with each other - honest with each other’s critical thoughts or quiet about them. People will agree that the honesty is preferable. Then agree how to do it well so it doesn’t produce the bad reaction. Then practice doing it until you can easily take and give such honesty. If you don’t do that you will be stuck in a superficial, suboptimal environment.
How do you balance taking feedback while holding on to the principle of not worrying what others think?
You take the feedback like you would take it from your coach on a team. By you recognizing that it’s his responsibility to give it to you to help you improve. Be sure to convey your appreciation when you get it as it’s not easy for them to give and you’re expressing appreciation will foster a better relationships at a time when it could be hurt because of the critical feedback.
How do you trust others input?
By assessing its logic.
How do you weigh the merit of the advice of new people? Do you take that advice? How do you process conflicting advice from different sources?
I learn from it and assess it, and then decide what I want to do with it.
Only by constantly receiving credible external feedbacks, can we have a deeper and more objective understanding of ourselves.
agreed.
How do you know if others are just telling you what you want to hear and also could just be hurtful with over criticism?
Since I want to hear accurate criticism most people who know me don’t hesitate to tell me critical things. As for getting critical feedback because others are just trying to be hurtful, I (and most others) can usually tell whether someone is genuinely caring and trying to be helpful or dislikes me (or others) and is trying to be hurtful.
Life Principle
- Embrace Reality and Deal with It
- Look at the machine from the higher level.
- Because it is difficult to see oneself objectively, you need to rely on the input of others and the whole body of evidence.
- Look at the machine from the higher level.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
