15 Golden Principles from CZ (Binance CEO): Keys to Success in Work & Life

Changpeng Zhao (CZ), the founder and CEO of Binance, has shared core principles that shape both his career and personal life. These philosophies aren't just guiding lights that helped him build a vast crypto empire, but also valuable lessons for anyone aiming for sustained success.

 

1. CZ's General Principles

 

   ● Fairness: CZ believes treating everyone fairly is fundamental. Don't exploit others, and don't let yourself be exploited. This balance is crucial for long-term progress.

 

   ● Building Long-Term, Mutually Beneficial Relationships/Transactions: True success is built for the long term. Focus on fostering win-win relationships and transactions to ensure sustainability. One-sided deals rarely offer lasting value.

 

   ● Avoid Short-Term Successes: These fleeting successes often have negative long-term impacts, distract you from long-term goals, and come with hidden risks. Aim for greater, more meaningful long-term achievements.

 

   ● Eliminate "Toxic" Relationships: Steer clear of unethical, negative people, or those who don't share your vision. CZ doesn't spend time on gossipers or those constantly seeking attention; instead, he prefers interacting with humble and confident individuals.

 

   ● Always Uphold Ethics: CZ asserts he never crosses ethical lines, as unethical actions will inevitably come back to haunt you. He always does the right thing, even when it's not the easiest path.

 

   ● Maximize Focus: Success doesn't come from how many things you do, but from how well you execute the chosen few. Focus helps CZ work diligently and eliminate all distractions. He has few hobbies, exercises 30 minutes daily, and avoids owning assets that demand high maintenance time.

 

   ● Maintain a Positive Attitude: An optimistic attitude often leads to positive outcomes. CZ always remembers the saying: "What do you do when you walk to the bottom of a valley? Just keep walking and you'll get out of it." Living ethically also helps you maintain positive energy.

 

   ● Take Responsibility for Your Actions: Mindset is a prerequisite for success. For CZ, this means being responsible for and proud of what he does. He doesn't just "lay bricks" but "builds cathedrals." When starting a task, CZ always takes responsibility for the outcome and constantly seeks ways to improve.

 

   ● Continuous Learning: In a rapidly evolving world, continuous learning through reading and experiencing different environments is essential. CZ doesn't read news, finding it lacks depth; instead, he reads books to delve into details and improve himself. He also tries to write a little every day to organize his thoughts.

 

2. Principles for Understanding the World

 

   ● Understand How the World Works: This is a key factor for achieving success. Read books like "Sapiens" to understand human behavior. Recognize that everyone has a unique perspective and understanding of the world. Avoid oversimplification and always look at things at a deeper level.

 

   ● Grasp Limitations: Rules are man-made and not always perfect. Books like "The Law" (1850) or "Economics in One Lesson" can help you grasp this. Don't try to fight battles you can't win. Instead, avoid them, find another path, and focus on the positive contributions you can make.

 

3. Decision-Making Principles

 

Good decision-making is a skill that can be honed. CZ applies these principles:

   ● Prioritize Core Principles First: If a decision aligns with core principles, CZ adheres to them. Otherwise, he considers the following factors in order:

        ○ Scale/Impact (Small vs. Large): Small decisions (like choosing dinner, minor investments) are made quickly or delegated. Large decisions (like major funding, investments) require data collection, team discussions, and 24 hours of consideration.

        ○ Temporary vs. Permanent: Some decisions are reversible (like developing a new product feature) with limited time and energy costs. Decisions that are not easily reversible (like large upfront payments for M&A deals) require extreme caution.

        ○ Expertise: If it's an area where CZ has expertise (e.g., technology, product), he makes decisions faster. In unfamiliar areas (e.g., marketing), he delegates or seeks advice from experts.

        ○ Sufficiency of Information: For small decisions, less information is needed. For large decisions, CZ tries to gather all necessary information, though in life, decisions often must be made with limited information.

 

   ● Action Over Inaction: Making a decision and executing it is much better than making no decision at all.

 

4. Principles for Teams and Organization

 

   ● Team Over Individual: An excellent individual in a poorly functioning team rarely achieves good results. Conversely, a strong team can help all members, even those struggling, achieve positive outcomes. Therefore, prioritize the team.

 

   ● Frequent Team Rotation: Prevent organizational stagnation. Create opportunities for leaders to clarify your intentions and goals.

 

   ● Clear Communication: Start by saying "I want..." before explaining why. This can save time if the other party agrees immediately.

 

   ● Concise and Effective Writing: CZ dislikes verbose or poorly written documents, viewing it as a sign of not spending enough time or being unable to organize thoughts. Write concisely and with quality. He expects:

        ○ 3-5 bullet points for a 15-minute meeting.

        ○ Half to one page of information for a 30-60 minute team meeting.

        ○ A maximum of 5 pages for quarterly business reviews (MBR or QBR).

        ○ No PowerPoint, no complex slides, just text and simple charts.

 

   ● Use the Most Efficient Communication Tools: CZ disagrees with the view, "Don't use email if you can call; don't call if you can meet in person." Instead, he proposes: "Don't meet if a call is enough; don't call if an instant message (IM) is enough." While in-person is better for difficult conversations, CZ prioritizes efficiency over formality in most regular communication, provided there's a strong enough relationship for mutual understanding.

 

   ● Avoid Indirect Communication Chains: Don't discuss an issue with someone who heard it from another person, as the information may be inaccurate. Speak directly. Avoid using project managers or leaders as intermediaries for information relay.

 

   ● Smart PR Strategy: Use messaging to engage. Wait for systems or products to stabilize for a week or more before major PR activities. Only do PR for tangible results. Be wary of smaller partners trying to leverage the Binance brand for their own credibility.

 

   ● Don't Delay PR, Announce When Ready: CZ disagrees with PR teams delaying announcements for "optimal" timing (e.g., waiting until Monday morning instead of Friday evening). Such delays create unnecessary bottlenecks, halt future workflows, and cause more damage than any perceived "information optimization." Announce when things are ready and move on to the next task.

 

    ● Respond to Journalists: If you don't respond, journalists may write their worst version of the story. Respond, record, and publish your interviews if necessary.

 

    ● Address Negative News Quickly: Otherwise, it will spread rapidly.