Why being open-minded leads to success

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Why should you be open-minded? Well, being open-minded puts you ahead in life. Working with people is inevitable. We constantly engage with people at work, school, and home. With that said, Ray Dalio’s success is a good example of what being open-minded can get you.

In his book Principles, Ray Dalio continuously emphasizes how important it is to be “radically” open-minded. In 1982 Ray Dalio was overconfident and arrogant. He publicly guessed the world would go into a great depression in 1982. He was wrong and lost everything, including his company Bridgewater. Dalio even had to borrow 4,000 dollars from his father to pay the bills. 

Emerging from the failure, Dalio gained humility and became radically open-minded. According to Dalio, most people confuse what they wish were true with what is really true. If Dalio had been more open-minded in 1982, he could have avoided losing everything.

In principles, Dalio mentions the qualities of an open-minded person and the qualities of a close-minded person. The qualities are:

Close-minded people don’t want their ideas challenged

Open-minded people are more curious about why there is disagreement

Close-minded people are more likely to make statements than ask questions

Open-minded people genuinely believe they can be wrong; the questions they ask are genuine. 

Close-minded people focus on being understood rather than understanding other people.

Open-minded people always feel compelled to see things through other’s eyes. 

Whenever confronted by disagreement, instead of being too hung up on what he thinks. Dalio examines the facts and finds out how both of the sides got to their unique conclusions. Not letting personal bias get in the way of his work has helped Ray Dalio become an exceptionally wealthy and successful man.

Implementing his strategies in life can help anyone get ahead and reach their dreams.

Book: Principles by Ray Dalio

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