Written during the Great Depression, Think and Grow Rich
is probably the most famous self-help book. It is available in more than 120
editions and has been purchased over 30 million times. I had heard a great deal
about this book, and moreover, its title is also catchy, so I decided to give it
a shot.
The back cover of my edition reads, “Powerful enough to
knockout Muhammed Ali”. In the preface, the author has named some of the most
successful men who used the author’s principles or his secret, and in turn
became successful. These names include Henry Ford, Thomas A. Edison, and
Theodore Roosevelt.
The author has used the classic technique of most self-help
writers and motivational speakers. The technique is to first convince the
people that he knows the secret of success; then he asks them to give their
best to achieve success; after that, he instills overoptimism in their minds by
telling that they are capable of achieving anything.
Initially, this book seems to follow the same clichéd
technique. In the preface, the author claims that he knows the secret to
success, knowing this secret will bring fortunes to you; but, throughout the
book, he never explicitly mentions the secret. However, as the book progresses
and once you pass the clichéd stories, you realize that it contains more than
just rhetorics. Some empty talk has been added to increase the page count;
without it, this book would have been better. But it is still a good read.
There is no harm in trying the author’s principles.
Here are my key takeaways from this book:
1.
Desire
– the starting point of all achievement: You must have a pulsating, burning
desire to achieve your definite major purpose. Burn all bridges behind you and
stand by your desire until it becomes the dominating obsession of your life.
For example, if you want to become rich, follow these steps.
1.
Fix in your mind, the exact amount of money you
desire.
2.
Establish a definite date when you intend to
possess the money you desire.
3.
Create a definite plan for carrying out your
desire and start at once.
4.
Periodically repeat the first two steps to your
mind.
2.
Knowledge:
There are two types of knowledge. One is general knowledge and the other is
specialized knowledge. We waste our time gaining general knowledge, but it is
of little use in the accumulation of money. Specialized knowledge also doesn’t
guarantee riches. For example, most of the professors have little to no money.
The reason is that they specialize in teaching knowledge but they are not using
this knowledge for earning money.
Contrary to the popular assumption, knowledge is not power. It is only
potential power. Unless you learn to use this knowledge for your benefit,
it is worthless. Take the example of Steve Jobs, he knew absolutely nothing
about technology. There were many computer scientists who had far more
knowledge than Steve Jobs but they never used their knowledge to earn money.
An educated man is not, necessarily, one
who has an abundance of general or specialized knowledge. An educated man is
one who has so developed the faculties of his mind that he may acquire anything
he wants, or its equivalent, without violating the rights of others.
Money: Why aren't some people able to earn money although they have enough knowledge?
Money: Why aren't some people able to earn money although they have enough knowledge?
3.
Imagination: Ideas are the beginning point of
all fortunes. Ideas can be transmuted into cash through the power of definite
purpose, plus definite plans, plus persistence. Ideas are the products of the
imagination. Imagination can be developed only through use. As James Altucher
says, think about 10 new ideas every day; after some time, your idea muscle
will grow strong.
4. Organized planning:
The first step in organized planning is to
form a mastermind group. Life is too short to learn from your own experience.
Surround yourself with smart people. Use the knowledge and experience to
further your cause.
The major
attributes of leadership:
1. Unwavering courage
2. Self-control
3. A keen sense of justice
4. Definiteness of decision
5. Definiteness of plans
6. The habit of doing more than paid for
7. A pleasing personality
8. Sympathy and understanding
9. Mastery of detail
10. Willingness to assume full responsibility
11. Cooperation
The 30 major causes of failure:
1. Unfavourable hereditary background
2. Lack of a well-defined purpose in life
3. Lack of ambition to aim above mediocrity
4. Insufficient education: Education
consists, not so much of knowledge, but of knowledge effectively and
persistently applied
5. Lack of self-discipline: Discipline
comes through self-control. If you do not conquer self, you will be conquered
by self.
6. Ill health: No person can enjoy success
without good health. Most of the causes of ill health are subject to mastery and
control. These are:
a. Overeating
of foods not conducive to health.
b. Wrong
habits of thought; giving expression to negatives
c. Wrong
use of and over indulgence in sex
d. Lack of proper physical exercise
e. An
inadequate supply of fresh air, due to improper breathing
7. Unfavourable environmental influences
during childhood
8. Procrastination: Most of us go through
life as failures because we are waiting for the time to be right to start doing
something worthwhile. Do not wait. The time will never be just right. Start
where you stand, and work with whatever tools you may have at your command and better
tools will be found as you go along.
9. Lack of persistence: failure cannot
cope with persistence
10. Negative personality:
11. Lack of controlled sexual urge
12. An Uncontrolled desire for something for
nothing: The gambling instinct drives millions of people to failure. There
is never something for nothing.
13.
Lack of a
well-defined power of decision: Indecision and procrastination are twin
brothers; where one is found, the other may usually be found also.
14. One or more of the six basic fears:
15. Wrong selection of a mate in marriage:
16. Over-caution: The person who takes no
chances, generally has to take whatever is left when others are through
choosing.
17. Wrong selection of associates in business
18.
Superstition
and prejudice: An open mind is a must for success. To achieve success, you
should take to take nothing personally.
19. Wrong selection of a vocation: Do not
select an occupation which you do not like.
20. Lack of concentration of effort: Concentrate
all your efforts on one definite chief aim
21. The habit of indiscriminate spending:
The spend-thrift cannot succeed because he stands eternally in fear of
poverty.
22. Lack of enthusiasm:
23. Intolerance: Open mind. The most
damaging forms of intolerance are those connected with religious, political,
and racial differences of opinion
24. Intemperance: Eating, strong drink and
sexual activities.
25. Inability to cooperate with others:
26. Possession of power that was not acquired
through self-effort:
27. Intentional dishonesty:
28. Egotism and vanity:
29. Guessing instead of thinking: Think
with facts instead of guessing with opinions.
30. Lack
of capital
"Many people mistake their wants for their just dues. Your financial
requirements have nothing whatever to do with your worth.
Capital consists not alone of money, but more particularly of highly
organized, intelligent groups of men who plan ways and means of using money
efficiently for the good of the public and profitably to themselves.
Capitalists are the brains of the civilization because they supply the entire
fabric of which all education, enlightenment and human progress consists."
5. Decision:
Opinions are the cheapest commodities on earth. Do not be influenced by the
opinions of others while reaching a decision.
Also, do not disclose your ideas and plans to unimportant people. They
will be used against you.
6. Persistence: Every failure brings with
it the seed of an equivalent advantage. So do not quit at the first signs of failure. Face them until you succeed.
Symptoms of lack of persistence:
1.
Failure
to recognize and to clearly define exactly what one wants.
2.
Procrastination:
3.
Lack of interest in acquiring specialized knowledge:
4.
Indecision
5.
The habit of relying upon alibis instead of
creating definite plans for the solution of problems
6.
Self-satisfaction:
7.
Indifference: Readiness to compromise on all
occasions, rather than meet opposition and fight it.
8.
Blaming others for one’s mistakes and accepting
unfavourable circumstances as being unavoidable
9.
Weakness of desire
10.
Willingness to quit at the first sign of defeat
11.
Lack of organized plans
12.
The habit of neglecting the opportunity when it
presents itself
13.
Wishing instead of willing: Riches do not
respond to wishes. They respond only to definite plans, backed by definite
desires, through constant persistence.
14.
The habit of compromising with poverty instead
of aiming at riches
15.
Searching for all the shortcuts to riches,
trying to get without giving a fair equivalent, usually reflected in the habit
of gambling
16.
Fear of criticism: Countless no of people permit
their relatives to wreck their lives in the name of DUTY because they fear
criticism. DUTY does not require any person to submit to the destruction of his
personal ambitions and the right to live his own life in his own way.
How
to develop persistence:
1. A
definite purpose backed by burning desire for its fulfillment
2. A
definite plan expressed in continuous action
3. A
mind closed tightly against all negative and discouraging influences
4. A
friendly alliance with one or more persons who will encourage one to follow
through with both plan and purpose.
7. The mystery of sex transmutation: Sex
desire is the most powerful of human desires. So strong and impelling is the
desire for sexual contract that men freely run the risk of life and reputation
to indulge it. A bull becomes as docile as a cow after it has been altered
sexually.
The
10 mind Stimuli:
1.
The desire for sex expression
2.
Love
3.
A burning desire for fame, power or financial
gain, MONEY
4.
Music
5.
Friendship
6.
A master mind alliance of people who ally
themselves for spiritual or temporal advancement.
7.
Mutual suffering
8.
Auto-suggestion
9.
Fear
10.
Narcotics and alcohol
Most men achieve success after the
age of 40, because it is only after this age that they understand the
significance of overindulgence and wrong sexual habits. Before this age, men
waste their precious energy in sex.
8.
The seven major positive emotions:
1.
Desire
2.
Faith
3.
Love
4.
Sex
5.
Romance
6.
Enthusiasm
7.
Hope
The seven major negative
emotions:
1.
Fear
2.
Jealousy
3.
Hatred
4.
Revenge
5.
Greed
6.
Superstition
7.
Anger
The six basic fears:
1.
Poverty
2.
Criticism
3.
Ill health
4.
Loss of love of someone
5.
Old age
6.
Death
NOTHING WHICH LIFE HAS
TO OFFER IS WORTH THE PRICE OF MONEY
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