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.
Keep in mind that managers usually fail or fall short of their goals for one (or more) of five reasons.
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They are too distant.
They have problems perceiving bad quality.
They have lost sight of how bad things have become because they have gotten used to it.
They have such high pride in their work (or such large egos) that they can't bear to admit they are unable to solve their own problems.
They fear adverse consequences from admitting failure.