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
Recognize that mistakes are a natural part of the evolutionary process.
If you don't mind being wrong on the way to being right you'll learn a lot--and increase your effectiveness. But if you can't tolerate being wrong, you won't grow, you'll make yourself and everyone around you miserable, and your work environment will be marked by petty backbiting and malevolent barbs rather than by a healthy, honest search for truth.
You must not let your need to be right be more important than your need to find out what's true. Jeff Bezos described it well when he said, "You have to have a willingness to repeatedly fail. If you don't have a willingness to fail, you're going to have to be very careful not to invent."
RECENT USER EXCHANGES
In an organization sometimes you need permission to be wrong and improve from your mistakes. Trying to be always right is a way to slow death and that's some companies fail eventually.
Right
How do your employees overcome the anxiety of mistake-making when they know their mistakes will be on a “permanent record”?
Through practicing it and operating in a culture that values it.
Work Principle
- Create a Culture in Which It Is Okay to Make Mistakes and Unacceptable Not to Learn from Them
Recognize that mistakes are a natural part of the evolutionary process.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
