Applying Ray Dalio’s Principles

I came across Ray Dalio’s Principles for Success the other day. In it, he described “The Five Step Process”.

Specifically, the five steps were

  1. Goals
  2. Problems
  3. Diagnosis
  4. Design
  5. Do it

After a few days of reflection, I felt that was really what I have been doing throughout my life except I didn’t really think and go through some of the issues as well as I should, which may have prevented me from making more progress in life.

Each journey was a new challenge and each time the struggle was harder.

Back in my high school days, I was at an average high school, somehow got waitlisted at a selective high school and eventually got accepted. It was a struggle as I was competing with more dedicated people but I became better over time as a result and I also saw bigger goals, problems and learned better diagnosis and design.

Then I thought it would be a good idea to become an actuary because the university mark required was at a range I could get in so I set my goal at that. Again, I got waitlisted and got in eventually. It was again a struggle because now I was competing with some of the best people from some of the best high schools in the state.

Then I thought what I really wanted to do was investment banking because they paid more than an actuary and money was important. So I set that as my goal, ran into a lot of problems trying to get in, barely made it in and again struggled so much initially because I was now competing with some of the best people from some of the best schools in the world.

I made it as high as I could there and now as fate would have it, my life has led me to pursuing an entrepreneurial journey. Now my goal is set and this is what I genuinely believe is the most difficult and challenging thing I could do with my life right now. Again, I am struggling so much but I believe all my previous experience has set me up for this.

Also, I came to realise the first and most important step is actually setting your goal, everything else comes after. But the cool thing about this is your goal can change once you reach it because as a very good friend I met during this entrepreneurial journey told me, you can plan much better for step 70 when you are at step 69 than when you are still at step 1.

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