Principles

📃The Accompanying PDF

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🔖How would I describe this book in 1 sentence?

Practical guidebook to work and life approach of a successful person with meaningful values.

🗺️What was the role of this book in my journey?

I came by this book while seeking broad knowledge and life wisdom. What I didn't expect to find here is also great investment advice.

I swallowed this book too fast that didn't give me an opportunity to reflect and more thoroughly consider all the principles, which now I recognize as a mistake.

Principles was an immense finding at the time, because I had an opportunity to practice and validate certain ideas. I managed to simultaneously apply the knowledge acquired from the book in my self-development, career, and investment aspects of life.

This book was the first trigger for me to start building .

💡Key Insights

Life

  1. People are wired differently
  2. Evolving is life's greatest accomplishment and its greatest reward
  3. Being radically transparent with yourself and the others is the first step to success
  4. Decide what to do → Have a courage to do it
  5. Truth is the essential foundation for producing good outcomes
  6. Dreams + Reality + Determination = Successful life
  7. Pain + Reflection = Progress
  8. 5 Step Process of sustainable progress:
    1. Having clear goals
    2. Identifying the problems that prevent you from achieving these goals
    3. Getting to the root cause of these problems
    4. Designing plans to help you overcome these root causes
    5. Enforcing these plans to get your desired results
  9. Successful life is never easy. The more capable you become - the greater the challenges you can take on
  10. There is always a best path forward and you probably just don't see it yet
  11. Every life event is just another one of those. You just have to look closely for the correlations
  12. Risk and reward naturally go together. Knowing how appropriately balance risk and reward is essential to having the best life possible
  13. Our ego and blind spot barriers are 2 biggest barriers in our life
    1. Ego barrier - when parts of your brain prevent you from acknowledging your weaknesses objectively. Our need to be right can be more important than our need to find out what's true. We like to believe our own opinions without properly stress-testing them
    2. Blind spot barrier - when a person thinks he or she can see everything. Every person perceives the world around differently. No-one alone can see the whole picture of reality
  14. Thoughtful disagreements are the key to knowing the truth
  15. The best way to go through the jungle of life is with insightful people that see things differently from you
  16. By nature, most peoples' greater strengths are also connected to their most significant weaknesses
  17. Success is not a matter of attaining ones goals, the struggle towards personal evolution is.

Work

  1. An Idea Meritocracy is a great way to build a successful organization
  2. Get over from who gets the blame and who gets the credit. What truly matters what is accurate and what is inaccurate
  3. Staying in sync with your colleagues is essential thing to not lose sight of your goals
  4. Find the most believable people and try to understand their reasoning. Focus on reasoning and not the specific conclusion
  5. Just because the problem doesn't present itself suddenly, doesn't mean the problem hasn't presented itself
  6. How to solve a problem?
    1. List aspects of the problem
    2. Ask "Why?" to get to the root cause
    3. Create a plan
    4. Track the plans progress

🦅Key Principles

Life

  1. Always seek to find out what is true in every situation
  2. Embrace reality and deal with it
  3. View problems like puzzles that would reward you if you can solve them
  4. Identify the problems and not tolerate them
  5. Be open to feedback from others (Be radically open-minded)
  6. Seek the truth regardless of how much it can hurt
  7. Believability-weight your opinion and opinions of others to help you to make a decision
  8. Don’t leave important conflicts unresolved

Work

  1. Create a culture in which its okay to make mistakes but unacceptable not to learn from them
  2. Cultivate meaningful work and meaningful relationships
  3. Seek out for the most thoughtful people around you that would disagree with you
  4. Remember that the who is more important than the what
  5. Hire right, because the penalties for hiring wrong are huge
  6. Constantly train, test, evaluate, and sort people
  7. When you see people make mistakes, tell them directly
  8. Get and stay in sync
  9. Open direct lines of communication between people working together. Don't treat them like a black box
  10. Diagnose problems to get at their root causes
  11. Design improvements to your system to get around your problems
  12. Constantly train, test, evaluate, and sort people
  13. Hire people that match the design of the company. Don't create jobs to fit certain people
  14. Hire people for the long term
  15. Provide consistent feedback and evaluate accurately

✍️Notes

Learn how to make decisions effectively

  1. Recognize that emotions pose the greatest threat to making decisions and that arriving at a decision is a two-step process of learning and then deciding
  2. Synthesize your current situation, i.e., identify the factors that are important to your ongoing decision-making process
  3. Synthesize the situation through time, i.e., observe how different factors behave over time to get a better understanding of their true nature
  4. Switch between perspectives. This means seeing both the big picture, and the subtle nuances of your decision-making process
  5. Rely on logic, reasoning, and common sense if you want to get the best picture of reality
  6. Arrive at your decisions as you would if you were making a value calculation. Think of each decision you make as a bet with a probability of it being right or wrong
  7. Choose whether you need to prioritize acquiring more information before making a decision, or whether it’s more valuable to make a quick decision
  8. Simplify your decision-making process by removing all of the superfluous information
  9. Use principles so you can be clear about the criteria you are using when arriving at a decision
  10. Weight your decision-making according to believability, i.e., get the opinion of some trusted, smart experts on your decision before you commit to it
  11. Convert your principles into algorithms so a computer can make decisions alongside you
  12. However, don’t fully trust AI without having a solid understanding of how it works

PDF Version of the Book

Principles_ Life and Work ( PDFDrive ).pdf6513.3KB