I learned a lot from Ray Dalio’s Principles, which he describes as “ways of successfully dealing with reality to get what you want out of life”. I also valued Derek Sivers’ directives for how to get what you want. Both Ray and Derek make good arguments for everybody sharing their own principles and directives. I liked their reasoning so I’ve started sharing some principles and directives that resonate with me here. This is a living document that I will update with new things that I find useful.
Listen intently to people and ask them questions, because you never know where this will lead.
If I have high conviction on investing in an area/theme, I’d be better to spread bets across players within the theme, rather than betting on only one player per theme.
Ensure understanding by all parties before locking in any decisions and use both written and verbal communication to do this.
Don’t sweat the small stuff
Before making a new purchase ask:
If another person/party is in it similar situation to you, don’t assume you will definitely be driven to make similar decisions or have similar values
Organise to have unplugged focused time to think and read inspiring things.
Remember that in terms of wellbeing, the marginal benefits of being very wealthy (over and above comfortably having the basics - saftey, good relationships, good food, a comfortable bed, good sex) decrease the more wealth you get.
Know your strengths and use them often. Know your weaknesses and partner with others who have complementary strengths.
Find out what your gifts are, then use them in a way that helps others, and also helps yourself, so that you stay motivated to keep going.
Money is a tool that can help you achieve your goals. Having money is not a goal in and of itself.
When you make a mistake or struggle a lot, remember to reflect on and learn from the experience.
Understand Reality -> decide what your dreams are -> go after you dreams until you have them. Repeat.
Don’t get hung up on your views of how things should be to the point that you miss out on understanding how they really are.
If you come up with things that people value, you almost can’t help but to be rewarded.
Perfection doesn’t exist but it is a goal of the never ending process of evolution.
When you’re faced with a situation in which there are two things you want or need which are seemingly incompatible, go slow to figure out how you can have the most of both
When faced with a seemingly binary decision (either option A or option B) always look for an option C.
Don’t apply labels to yourself. The more labels you apply to yourself, the stupider you become…and the more prone you are to groupthink.
Always ask ‘is the way I spend my time in line with the life I say I want to live?’
Save aggressively, invest wisely and be generous with the results of that.
Have big life goals and pursue them relentlessly within the framework of a balanced lifestyle
Start with the end in mind. Understand what your mission is from the start.
Remember, it’s usually best to take a long-term view
Think in bets to help make decisions … especially when you need to make a decision without having all the information you need
Work harder on yourself than you do on your job