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  • Jaime Deschamps

Principles - Ray Dalio

Simply, this is a great book for anyone who wants to start a project, study success and/or improve their corporate practices.


Ray Dalio is one of the wealthiest people in the world and is known for founding and leading Bridgewater Associates, one of the most relevant investment funds.


The first part of the book is his autobiography, reviewing the relevant episodes of his life from 1949 to 2017 retrospectively. This first part has great value to understand the milestones that led Dalio to his success and shows how failure and effort are always an important part of any entrepreneurial story.


Parts II and III refer to the personal and work principles that Ray has been building throughout his life and that have allowed him to achieve the life he has.


Life Principles:


* Accept and deal with reality.


* Use a 5-step process to get what you want from life:

  • Have clear goals.

  • Identify and do not tolerate problems that obstruct your way to achieving goals.

  • Diagnose problems accurately to eliminate them at their roots.

  • Design plans that will help you overcome problems.

  • Do what is necessary to convert designs into results.

* Be radically open-minded.


* Understand that people think very differently.


* Learn how to make effective decisions.


Work Principles:


*Culture

  • Understand culture well.

  • Trust in radical truth and radical transparency

  • Cultivate meaningful work and meaningful relationships

  • Create a culture where it is okay to make mistakes and unacceptable not to learn from them

  • Synchronize and stay synchronized

  • Credibility weighs in your decision making

  • Recognize how to go beyond disagreements

* People's well-being

  • Remember that WHO is more important than WHAT

  • Hire well, because the penalties for hiring badly are enormous

  • Train, test, evaluate, and constantly classify people.

* To build and evolve your machine...

  • Manage as someone who operates a machine to achieve a goal

  • Perceive and do not tolerate problems

  • Diagnose problems to get to their roots

  • Improve the design of your machine to solve its problems

  • Do what you set out to do

  • Use tools and protocols to shape how work is done

And for God's sake, do not overlook corporate governance. #Blpadvisors #Thelegalstartupforstartups https://www.amazon.com.mx/Principles-Life-Work-Ray-Dalio/dp/1501124021

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