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Ray Dalio & Bill Belichick on Learning from Failure


2m read
·Nov 8, 2024

So another thing about us we were talking about is uh uh failure. Like I had my big failure in 1982. Like in my case, I um made a terrible call in the markets, and whatever it is, and I went broke. I uh lost money, and I had to borrow $4,000 from my dad to take care of my family bills and so on. Very painful.

But that goes down in my mind as one of the best experiences I had because I had to learn about, okay, what do I do? What’s the lesson, you know? And I've got this principle: pain plus reflection equals progress.

I know you had your own failure. Well, there were many along the way, and of course in the NFL when you play, um, every week you have the success or failure. There's the report card; it's pretty clear-cut. So again, you learned that job security is based on performance, and anything that gets in the way of performance affects your job security.

That was pretty evident again in Cleveland when I became a head coach. You know, after spending 12 years with the Giants and went to Cleveland, um, even though we went from a, you know, a bad team when I got there 3 and 13 to, you know, to a very successful, you know, 11 and 5, 12 and 6 in '94, uh, then a down year '95, and that was the end.

So, you know, when I reflect back on the 5 years in Cleveland, I look at some of the things that I failed at, that I needed to do better in the next opportunity. And, you know, fortunately, uh, in New England, um, Robert Kraft and the Kraft family gave me an opportunity to, you know, to resume a head coaching opportunity there in, uh, 2000.

And you know, I tried to take a lot of the lessons that I'd learned from the Cleveland experience, um, which a lot of it was good, but again, the things that came up short, I tried to implement those in the new opportunity in New England. And along with the supportive ownership, um, that's worked out pretty well.

Your attitude, uh, I think is very similar; like pain provides lessons many times, right? Absolutely. See the pain on the front end or pain on the back end. It's either the pain of preparation or the pain of failure. And so it's, I try to put it in on the front end. Don't always avoid it on the back end, but do everything I can to not have the results be painful.

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