Actionable Insights from the Book:
1. Whether people realize it or not, everyone operates under his or her own principles. It’s important to understand that people are not irrational animals or creatures of instinct. They behave under their principles. What are your principles?
Also, your principles are related to your values. And your values are basically what you have chosen in the past. You become what you value. And your choices not only reflect but become your values. The principles don’t just appear out of thin air. They are the products of your values and your values are the offsprings of your choices you make every day.
2. Dalio’s Life Principles:
1) Identify a problem by being a hyper-realist.
2) Embrace the reality by being radically open-minded and honest.
3) Deal with the problem by failing, learning from it, and doing better next time. This principle is probably one of the better known principles that we see on the Internet.
https://www.goodreads.com/book/show/34536488-principles
We can google Dalio’s Principles and this image will pop up.
3. No pain, no gain. Seriously. In order to gain strength, you need to push yourself to the limit, which is painful. Pain + Reflection = Improvement/Progression. So don’t avoid pain. Go to it and learn from it. Even the worst situation can be good when you own them and take responsibility. Don’t seek comfort. Choose pain and find out where the gain is. This is the only way to grow and mature!
What is one thing I’m deliberately avoiding? What is one thing that I’m afraid of taking risks of?
4. Have a clear goal. Having a goal is the result of prioritizing. Choosing a goal means making a choice. And in order to make a choice, one must disregard the rest of the possible options. You can’t have a goal unless you are able to focus.
When you have a clear goal, you will inevitably have problems that hinder you from reaching that goal. What are they? Identify the problems and diagnose them. It’s very important that you clearly figure out what exactly are the problems. Be hyper-realistic about your situation and your problems. Knowing your enemy well is the first step of a winning strategy.
When you have clearly identified and diagnosed your problems, then design a plan to solve them. There can be more than one way to solve your problems. Be creative.
Push through your plan. Persevere. Fail. Learn. And do better!
Repeat.
5. Being open-minded is the same thing as being humble. To be humble means you sincerely believe that you might not know the answer and that you might be wrong. This open-minded humility is so helpful in decision making. When you make a decision, you first need to take in information, which requires learning. And then, you make up your mind. Suspend judgment first. Take in information from various sources and opinions and views. Triangulate your views with other expert opinions. Be curious. Accept mistakes. Ask a lot of questions and listen. Focus on understanding, rather than being understood. And meditate to be humble.
Being humble needs a lot of work. But it can be learned.
6. Choose your habits well. They control you and make you. Here’s the 3 step habit loop: cue-routine-reward. Don’t allow bad habits to grow. Weed them out. Plant good habits and see your life bear fruit. Your life depends on habits.
7. Be imperfect. Don’t waste your time on being (trying to be) perfect. Perfect is overrated! Taking an action and initiating is the key to success. Don’t try to be perfect. Try to be the first to do it, instead. Learn from the experience. And try again.
8. Always ask, what’s the essential thing? Simplify the matter.
9. Possibility does not equal to probability. 🙂
10. Be passionate about your mission. Make your passion your mission in life.
11. You get stronger when doing difficult things.