Billionaire Ray Dalio has a true entrepreneurial success story. He started his company in a two-bedroom apartment. Ray Dalio; he was someone below the average student, with no special ability.
Now is; Founder of Bridgewater, one of the largest and best performing hedge funds in the world.
What’s the secret?
Dalio, in his new book, Principles ;
He explains that ” Paradigms ” are the only obstacles to success, shown in human DNA .
(The Paradigm Turkish Language Association dictionary has been defined as a “value series” in terms of meaning. The paradigm determines what individuals, groups and even nations perceive, what they adopt and do not adopt. )
This barricade; He exalts so much with his experiences that he says it is incredibly difficult to overcome.
He says, however, that people who can perceive it and take steps to overcome it are in a much better position to succeed in life.
Dalio’s advice; to be radically open-minded (and to share with everyone how to achieve this)
Your good decisions; He says that there are not always decisions that confirm what you believe to be true. A good decision; that you objectively evaluate you and your company.
The most important skill that people can have; is to explore different perspectives and different possibilities. However, if you ask people if they are open-minded or not, they almost always claim to be open-minded.
Some ways to see if you’re really open-minded, according to Dalio:
- Closed minded people do not allow their opinions to be questioned. Open-minded people are very pleased with this, even if they do not agree with their own viewpoints.
- Closed-minded people are more likely to use precise statements rather than asking questions. Open-minded people believe that they can be really wrong.
- Closed minded people care about being understood rather than understanding others. Open-minded people always have a position that is considered understanding in the eyes of other people.
- Closed-minded people are humble. Open-minded people approach everything with the possibility of being wrong.
According to Dalio
the first step ; It is to realize these features while living in a closed-minded state. Then it is to actively turn to the open-minded option.
One way to constantly be open-minded; is to surround yourself with open-minded people.
The second step is to turn the threats that our primitive brain will automatically make into learning opportunities.
“When they learn something, people who change their minds are the winners, those who stubbornly refuse to learn. You should keep your mind open to continuous improvement as you move smoothly towards everything that is likely to be true based on what you have learned. “
In his book, Dalio offers the following suggestions to help develop the habit of being radically open-minded:
“Sincerely believe that you will not know the best possible way”
He states that realizing that you don’t know everything is critical to discovering the best way forward.
“Accept that decision-making is a two-step process: First, get all relevant information, second, decide.”
Dalio says that at this point many entrepreneurs have lost. They start from their own perspective and try to find the information that suits it.
“Remember that you’re looking for the real best answer, not just the best answer that can come to you.”
This approach; It is a key for your ego not to affect you too much in the decision making process. You don’t have to be the way forward. The alternative approach is more important to make the right decision, even if it comes from someone else.
What do you think about Dalio’s advice?
Are you open-minded or will you benefit from applying some of these steps to your own decision making?