The Problem Hypothesis
"The problem hypothesis is a way to think about the viability of your product in a concrete, testable way. It works by reframing your idea for a product as a very specific problem. Say you’ve built a website that lets
No governance system of principles, rules, and checks and balances can substitute for a great partnership.
Source: Ray Dalio's Book Principles
Remember that in an idea meritocracy a single CEO is not as good as a great group of leaders.
Source: Ray Dalio's Book Principles
To be successful, all organizations must have checks and balances.
1. Even in an idea meritocracy, merit cannot be the only determining factor in assigning responsibility and authority. 2. Make sure that no one is more powerful than the system or so important that they are irreplaceable. 3. Beware of
Having systemized principles embedded in tools is especially valuable for an idea meritocracy.
1. To produce real behavioral change, understand that there must be internalized or habitualized learning. 2. Use tools to collect data and process it into conclusions and actions. 3. Foster an environment of confidence and fairness by having clearly-stated principles
Ring the bell.
Source: Ray Dalio's Book Principles
Allow time for rest and renovation.
Source: Ray Dalio's Book Principles
Use checklists.
Don’t confuse checklists with personal responsibility. Source: Ray Dalio's Book Principles
Recognize that everyone has too much to do.
Don’t get frustrated. Source: Ray Dalio's Book Principles
Work for goals that you and your organization are excited about and think about how your tasks connect to those goals.
1. Be coordinated and consistent in motivating others. 2. Don’t act before thinking. Take the time to come up with a game plan. 3. Look for creative, cut-through solutions. Source: Ray Dalio's Book Principles