Wisdom From Ray Dalio
Wisdom From Ray Dalio
8 Lessons Over 30 Minutes. A Cartoon Video Series by Ray Dalio.
While most people know Ray Dalio as the founder and leader of the largest investment fund in America, he is also known as a philanthropist and Mentor. He starets from humble roots in New York and has become a billionaire solely through business principles where all sides win.
I have been following Ray’s words for many years now, and find them to be extremely valuable. Recently, Mr. Dalio put out a series of cartoons outlining his eight principles of his success which takes about 30 minutes to watch. This will be 30 minutes of your time that will have a great impact on your life. I would also suggest watching it with your kids so they can get these principles embedded in their life at a young age.
These principles come from Ray’s book, Principles for Success which can be found on Amazon. Here is the link
1: You Need to Think for Yourself About What is True.
The first principle is that you need to think for yourself about what is true. He says you will make mistakes, but that is how we learn. Ray goes on to say that if you don’t learn this, you will be destined to live a life of somebody else’s design. He also says that you need to have the courage to do the things that you think about.
2: Embrace Reality and Deal with it.
Mr. Dalio teaches us that we will all crash sometime. The key is to learn from the crash. Truth is finding out what is instead of what we believe. The real truth is essential to learn so we don’t keep making the same mistakes over and over again.
He also gives us the formula for success. It is:
“Dreams + Reality + Determination = Success”.
We should embrace our weaknesses, mistakes, and problems and think of them as a learning experience. Mr. Dalio also tells us that:
Pain + Reflection = Growth.
Finally, he tells us to chose our goals based on reality, not just what we think is true. Become a realist.
3: Follow a Simple Five-Step Proces
Here is Mr. Dalio’s five-step process to growth:
- 1: Know your goal and run after it.
- 2: Encounter problems will happen on your way to your goals.
- 3: Diagnose the problem to get to the root cause or real cause.
- 4: Design a plan to get through it.
- 5: Take action and follow through on your plan.
4: The Abyss
We will all encounter big setbacks along our road. Know the difference between risk and reward. Finally, face the setback objectively.
5: Everything is a Machine
We are all part of a bigger machine and all machines run in cycles. There are principles to all things and every cycle. Learn the cause and effect of things.
6: The Two Biggest Barriers
The two biggest barriers to success are Ego and Blind Spots. Approach everything with humility. Accept the fact that we don’t know everything. Our ego makes us want to see things in a certain way. However, we have blind spots to things we don’t even know about or have the skill to do.
Use others to help. Form a group who have contrarian thoughts. Embrace their ideas. Build a team of different thinkers.
7: Be Radically Open-Minded
Replace the joy of being right with the joy of finding the real truth. Listen to and learn from others.
8: Struggle Well
Success is not reaching a goal, it is a process of evolution. Once we hit a goal, it is not over. There will always be another mountain to climb. Help others grow, and decide how you want to evolve.
I have read this book and it is well worth the read. Pick up your copy from Amazon today using this link below. Take care my friends, and happy growth. Watch for more tips from Mr. Dalio in the great past 60 finance and mind sections.