The quality of life reflects the quality of the decisions made. Such a principle emphasized by Ray Dalio in his book that has helped many people of various ages gain success. Indeed, this book is full of useful quotes and stories aimed to make the reader’s life simpler and wealthier, and here is why.
Principles by Ray Dalio: book structure
The book comprises three sections. A book one life principles introduces the reader to Ray’s intentions to write this bestseller. The following part is about his life principles, which put his work in the limelight. The ending part is about his work principles, where Dalio describes how his approach to work has changed throughout the years.
Principles are easy to read and follow because of its simple and informative style. Besides, Ray himself advised focusing only on the second part if you are short on time.
Reasons for Writing Principles
Ray Dalio is one of the most influential individuals today. He wasn’t born with a silver spoon in his mouth. He used to operate his business out of a two-bedroom apartment in New York. Forty years later, Bridgewater has made more money than any other company working in the industry.
As of now, being in his early-70s, he gladly shares his knowledge and helps young people gain success. Even if you are not interested in real estate, you will surely benefit from Ray Dalio’s unusual principles.
The book aims to help different people, and Dalio draws the reader’s attention to the importance of meaningful relationships and critical thinking.
Ray Dalio’s Central Principles
The book circulates around five principles the author walks around. They serve as great helpers to realize what you have to understand to get unique results from your work and improve your life.
Principle one: Accept reality and try to handle it
Whining and falling into depression will not change anything. People often complain that they can’t afford to purchase something, which they don’t need. However, even when they buy it, they are psychologically delighted for a short period only. To avoid that, you have to analyze what you can access and control and try bolstering it.
Principle two: Complete five steps to attain your dream
- Set doable goals
First and foremost, you need to have accurate and viable goals. If you have no idea what aims you have and/or how to find them out, go back to the first principle, and brainstorm crucial aspects.
- Get to know your enemy
You don’t necessarily need to have a living object to rival it. Problems may appear in abstract forms, like finance, time, or even laziness. Once you identify your target, analyze what the driving factor for your failure might be.
- Get rid of your rival
This step now requires actions from you. Knowing the root cause, you have to handle it most effectively.
- Come up with a plan
Every top-notch company has a plan. Take a paper writing service. First, it gets the order, then the most competent writer completes it, and then the customer receives it polished. Outline your actions and follow them.
- Do what you have to do
Having a plan makes your productivity skyrocket. However, there might be situations requiring additional actions. Analyze them fast and do what the situation demands.
Principle three: Remain open-minded
Being conservative is unacceptable. If you want your business or career to flourish, you must be open and transparent to everything and everyone. Truth radical is another excellent approach described in the book. Remember: in no way should you lie to anyone!
Principle four: Everyone is one-of-a-kind
Learn yourself and your capabilities. Be polite. The primitive brain will do you no good. Treat others as well-rounded people, having ample experience in different areas. This will help you maintain links in the future and advance your rational brain.
Principle five: Incorporate principles to make the right decisions
When you have something to decide, you should rely on your logic only. Do not fall into the emotional trap. Even if it seems the right choice, analyze the situation and what it will bring you in the long run.
And last but not least, there are several ideas that Ray Dalio nurtures within his book:
- Pain and analysis equal progress
- You and the World are amazing
- Implementing big idea means meaningful work and success
- Radical truth is your way to go
- Find complementary strengths and try to brush them up
- Know what communicating value is
- Being ready to give spontaneous speeches and answer sudden questions will persuade audience of your proficiency
Even though the book Principles Ray Dalio is large and requires time to complete, it is a massive library of useful knowledge. Ray Dalio is an authoritative entrepreneur, and his life from rags to riches is full of lessons we have to learn from.