As you may recall, when faced with an apparent either/or dichotomy, the wisest among us slow down, step back, and ask themselves how much of BOTH they can get.
I want to spend some more time chatting about Ray Dalio and his wisdom from his brilliant book Principles.
For the record: As I was creating that last +1, I reread my Notes on that book and my brain exploded with all the goodness.
😲 🤯 !!!
As we discuss in the Notes (and this +1 on Dalio’s 5 Steps to Success), Dalio is one of the wealthiest and most influential human beings on the planet. He is, as per his own standard, “believable.”
Now for Today’s wisdom…
In Principles, Dalio tells us: “I’ve always been an independent thinker inclined to take risks in search of rewards—not just in the markets, but in most everything.”
Then he says: “I also feared boredom and mediocrity much more than I feared failure. For me, great is better than terrible, and terrible is better than mediocre, because terrible at least gives life flavor.”
I don’t know about you but my brain just exploded again.
😲 🤯 !!!
Dalio feared boredom and mediocrity “MUCH MORE” than he feared failure.
How about YOU?
For him: “great is better than terrible, and terrible is better than mediocre, because terrible at least gives life flavor.”
Let’s drop that on a spectrum so we can see it…
According to Dalio, it goes like this:
Great > Terrible > Mediocre
Great > Mediocre > Terrible
Reminds me of Theodore Roosevelt and his Man in the Arena.
Recall: “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
That’s Today’s +1.
Let’s dare greatly as we relentlessly pursue excellence and refuse to accept mediocrity while taking wise risks and embracing the inevitable temporary defeats on the way.
Day 1. All in.
P.S. Want to Forge Antifragile Confidence? Use those “defeats” as FUEL for your growth.