You can’t make a great decision without swimming for a while in a state of “not knowing.” What exists within the area of “not knowing” is so much greater and more exciting than anything any one of us knows. Sincerely believe that you might not know the best possible path and recognize that your ability to deal well with “not knowing” is more important than whatever it is you do know. Shift from having a perspective of “I know I’m right” to having one of “How do I know I’m right?”

It doesn’t mean that decision-making authority is transitioned to those who are probing them. The goal of open debate is to provide the decision maker with alternative perspectives.

Make sure people don’t confuse the right to complain, give advice, and openly debate with the right to make decisions. Pay more attention to whether the decision-making system is fair than whether you get your way. Second, deciding - weighing the facts to determine a course of action, the “what to do about it”. The first pitfall of bad decision making is to subconsciously make the decision first and then cherry-pick the data that supports it.įirst, learning - choosing which knowledge should be drawn upon, the facts of this particular “what is”: your broader understanding of the cause-effect machinery that underlies it. Having good principles for dealing with the realities we encounter is the most important driver of how well we handle them. It will allow you to refine them as you encounter more experiences and to reflect on them, which will help you make better decisions and be better understood. Doing that will allow you and others to be clear about what your principles are and understand each other better. To be principled means to consistently operate with principles that can be clearly explained.ĭiscover your own principles from wherever you think is best and ideally write them down. They can be applied again and again in similar situations to help you achieve your goals. Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life.

Principles that taught me about other domains such as resilience, hiring, or leadership Principles to gather better information before making a decision Personally, I mostly learned about decision making. It covers such a breadth and depth of topics that no book summary could do it justice.

Principles dalio