Recent Read: Principles
“Principles” by legendary investor and entrepreneur Ray Dalio offers his fundamental truths as foundations for behavior that enable us to get what we want out of life and work. Among the many practical lessons, those that stood out for me included discussions of self-awareness, diagnosing problems and responsible leadership. A few thoughts on these below:
Self-Awareness:
“Everyone has at least one big thing that stands in the way of their success; find yours and deal with it.”
Dalio explains that we all struggle to see ourselves objectively. Recognizing weaknesses may be especially difficult, potentially masked as the flip sides of strengths and sources of great discomfort. Developing a reflexive reaction to reflect rather than avoid can lead to rapid learning.
After a career pivot, I believe my greatest weakness is practical knowledge of the healthcare ecosystem. I’m finding that being conscious of the tension between the need to learn and strong desire to perform has helped manage this discomfort and maintain perspective.
Diagnosing Problems:
“Problems are like coal thrown into a locomotive engine because burning them up – inventing and implementing solutions for them – propels us forward.”
The challenge of diagnosing problems well is commonly due to three reasons: 1) treating problems a one-offs rather than symptomatic of bigger issues, 2) depersonalizing without examining individual aptitudes, and 3) not contemplating if a problem is part of a pattern.
I would guess that habitually diagnosing problems is incredibly rare among teams. I’ve used basic root cause analysis (e.g. five whys) before but am still a diagnostic novice. With more deliberate practice and a bit more patience, I’d like to work on developing this competency.
Responsible Leadership:
“Remember that the who is more important than the what.”
Dalio likens leadership to the role of a conductor with musicians who are the best at playing their instruments. At the individual level, a leader’s most important decision is to determine who should be chosen as a Responsible Party who bears ultimate responsibility for outcomes.
On a related front, Dalio explains that the most effective leaders work to open-mindedly seek the best answers while bringing others along as part of the discovery process. Think less charismatic action hero and more skilled ninja.
As a contributor, I’m generally more confident in my efforts when the Responsible Party practices ‘extreme ownership’ and provides clear direction. As a developing leader, I’ve relished the opportunity to improve my ‘ninja skills’ as an individual contributor before working back into a leadership role.
