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
Distinguish between a failure in which someone broke their "contract" and a failure in which there was no contract to begin with.
If you didn't make an expectation clear, you can't hold people accountable for it not being fulfilled. Don't assume that something was implicitly understood. Common sense isn't actually all that common--be explicit. If responsibilities keep falling between the cracks, consider editing the design of your machine.
Work Principle
- Manage as Someone Operating a Machine to Achieve a Goal
- Hold yourself and your people accountable and appreciate them for holding you accountable.
- Distinguish between a failure in which someone broke their "contract" and a failure in which there was no contract to begin with.
- Hold yourself and your people accountable and appreciate them for holding you accountable.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
