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Saturday, July 12, 2014

Those who are most successful

Ray Dalio wrote on the page 22 of his "Princples" as follows:

Those who are most successful are capable of "higher level thinking" -- i.e., they are able to step back and design a "machine" consisting of the right people doing the right things to get what they want. They are able to assess and improve how their "machine" works by comparing the outcomes that the machine is producing with the goals.

(snip)

... your goals will determine the "machine" that you create to achieve them; that machine will produce outcomes that you should compare with your goals to judge how your machine is working. Your "machine" will consist of the design and people you choose to achieve the goals.

Note: boldface indications by the author


When we see people who are successful in his or her professional and private lives, we can see some common factors.

Machine

  • Design
    • Successful people are good at building systems that give others incentives to work harder.
  • People
    • Successful people can build good relationships with others around them.
    • Successful people can ask others to do things based on their knowledge, skills, and experience. Others satisfy their esteem needs.
Outcomes

  • Nobody can do everything well at the very beginning. Successful people make the best use of feedback after their trial and error.
Goals

  • People need short/mid/long-term goals (plus deadline) in order to prioritise and do things effectively in a timely manner.

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