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Xero – Gold Partner

Principles – the simple way to success

By | November 9, 2018

Business Adviser, Sam Crugnale shares with you the principles that have added the most value to both his personal and business life.

You have the choice of skimming over the info-graphics attached, which can also serve as a reminder of some of the rules Sam follows. These rules will be discussed in further detail below.

“The inspiration behind each of these rules is drawn from Ray Dalio’s top selling book ‘Principles’. I have drawn tremendous amounts of inspiration from this book, as Ray himself discusses how a principle-based approach has helped him achieve status as one of the world’s most successful investors and entrepreneurs.

I also share the belief that it is important to develop, refine, and create unique principles which are applicable to both business and your personal life —which any person or organization can adopt to help achieve their goal.”

 

Principles:

1. Realise that you have nothing to fear from knowing the truth: Have integrity and demand it from others, as meaningful relationships and meaningful work are equally reinforcing.

2. Cultivate meaningful work and meaningful relationships: Treasure honourable people who are capable and will treat you well even when you are not looking.

3. Be open-minded and assertive at the same time: Making suggestions and questioning are not the same as criticizing, so don’t treat them as if they are.

4. Believability weights your decision making: Recognise that to develop a well-rounded perspective requires that you understand the merit and substance of each person’s ideas.

5. Recognise how to get beyond disagreements: Don’t let the little things divide you when your agreement on the big things should bind you.

 

Differences in bad vs. good principles:

BAD GOOD
Avoid facing ‘harsh realities’ Face ‘harsh realities’
Allow pain to get in the way of progress Understand how to manage and progress through pain
Worry about ‘appearing’ Worry about ‘achieving the goal’
Don’t hold yourself or others accountable Hold yourself and others accountable

As a guide, a principle-based approach can serve as a friendly reminder to help you keep focused on your goals and dreams.

 

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