The Importance of Having Life Principles

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Principles are concepts that can be repeatedly applied in various situations. The most successful players in every game of life apply a set of core, strategic principles that they use to win. In other words, principles are a set of methods used to deal with specific rules and directives of life.

Certain principles are used for certain facets of life; for example, you use “management principles” for managing, “investment principles” for investing, “tennis” principles for playing tennis, etc. – and there are all-encompassing “life principles” that generally influence our approach to fundamental problems that we encounter in each stage of our lives. Of course, everybody plays the game differently, meaning that different people adhere to different principles that they believe work best.

The success that we see from figures such as Ray Dalio, Stephen Schwarzman, etc. stem from another set of principles. Anyone who scrupulously examines each company’s operations will see a strong culture, motivated people, influential management, and a highly effective overall team. Finding and acquiring these traits are challenges to all companies out there, but companies such as Bridgewater Associates and Blackstone managed to overcome these challenges both masterfully and effectively.

life Principles and Rejection

Of course, many people are not readily willing to subscribe to the principles set forth by their company. This presents the issue of compatibility; many employees are rejected from companies like Google or Goldman Sachs not because they aren’t competitive, but because they simply do not share the same values as the company (another life tip; just because your principles don’t align with another’s or another organization’s principles, simply keep looking for a company that shares your values).

Undoubtedly, principles are integral in getting what we want out of life. From having a successful career to maintaining a strong relationship, it is important that we understand each other’s principles.

In the next segment of Principles, I will answer the following five questions. In the meantime, think about the answers to these questions on your own (don’t worry, there is no wrong answer!). Feel free to share in the comments!

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What do you think?

  1. What are principles?
  2. Why are principles important
  3. Where do principles come from?
  4. What are your fundamental life principles (if any)?
  5. How effective do you believe your life principles are?
  6. How do you think you could develop your principles?
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