Do you want to know the truth about success? Self-made billionaire Ray Dalio is sure that you can manage it. Both in life, at work, and in investment.
The founder of Bridgewater Associates, the world’s largest hedge fund, has often wagered over nearly 50 years, managing money for various organizations and some of the richest people in the world.
There are many do’s and don’ts which you are told to follow in order to be successful in life. In fact the toughest challenges which we face on our path to greatness are not physical boundaries or external barriers; rather they are all in our head.
Especially when you are responsible for a big company or in other such position of power, the most important thing is to train your mind.
The art of decision making is about radically opening your minds and keeping the best interest of the company at heart. Having a lean approach while running a business and keeping yourself open to all kinds of possibilities is a crucial skill have as an entrepreneur.
Take the tests below to identify if you have an open mind:
1. If people disagree with your viewpoint, it should not be a matter of discomfort to you.
2. If you make definitive statements and not ask questions, you don’t genuinely believe that you could be wrong.
3. If you don’t seek to understand before being understood, you’re a closed-minded person
4. If you don’t approach things keeping a possibility in mind of being wrong, you lack humility.
The first thing you could do to deal with the closed-mindedness is to acknowledge the above characteristics if you have them.
The second most important thing to do is to understand that no one can possibly know everything and be always right. Once you have realized that you lack information on something, gather all the relevant data there is and then make the decision.
Where most people fail to get this right is by starting with a perspective and finding information that agrees to it. The crucial thing here to take away is that it doesn’t matter who comes up with the right way of moving forward but that you take the right one.