My Learning from "Think and Grow Rich" by Napoleon Hill

"A Goal is a dream with a deadline" - Napoleon Hill

"Think and Grow Rich" is one of my most referenced book on success and self development. I have read this book multiple times. Originally written in 1937, this book has sold over millions of copies worldwide. To write this inspirational classic, Mr.Napoleon Hill took over 20 years to research, analyse and interview the world's richest men such as Andrew Carnegie, Henry Ford, Thomas Edison, George Eastman etc. to learn the secrets of wealth. I have tried to summarise my learning from this classic below.

Thoughts are Things. Human mind is extremely powerful. Anything you can think of, you can create. The way you think about yourselves, your ability to succeed is very dependent on your thoughts. Negative thoughts results in negative reality. Positive thoughts will invariably lead to your success.

Desire is the starting point of all achievement. To be rich, you need to have a burning desire of being rich. Wishing and hoping will not make you rich. It is your desire that will set things in motion, so it is very important that you must believe that you can do it. We can only accomplish our aims in life if we are driven by "burning desire".

The six action items you need to do to be wealthy:

1. Fix in your mind the exact money you desire. This should be precise (even to the final rupee).

2. Determine exactly what you intend to give in return for the money you desire.

3. Establish a deadline when you intend to possess the money you desire.

4. Create a definite plan for carrying out your desire and put the plan into action immediately.

5. Write a clear, concise statement of the amount you intend to acquire, name the time limit for its acquisition, state what you intend to give in return for the money and describe clearly the plan through which you intend to accumulate it.

6. Read your written statement twice a day. See, feel and believe that you are already in possession of the money.

Specialised Knowledge creates a solid foundation for your desire. There are two kinds of knowledge. One is general; other is specialised. General knowledge, no matter in how great quantity or variety it may be, is of little use in accumulation of money. Knowledge will not attract money, unless it is organised and intelligently directed, through practical plans of actions, and directed to the definite end of accumulation of money. Knowledge is not power. It is only potential power. The knowledge of computer science did not make Sergey Brin one of the successful person in the world; application of the computer science knowledge with a synergy of business sense did.

Faith is the only known antidote for failure. If you like to win, but you think you can't, it is almost certain you won't. It is all in the state of mind. If you think you are outclassed, you are. This chapter teaches us to believe in your ability of achieving your goals. He states that faith cannot coexist with fear. Therefore, once we have mastered all fears, we can have an unwavering faith to grow rich. Fear stops a lot of people from becoming their best selves, and it will try to stop you too — if you let it. Remember, faith is the only known antidote for failure.

Imagination is like the creative workshop of our minds. Every success story begins with an idea. These ideas spawn from people’s imagination. We can utilize our imagination to turn dreams into ideas. When matched with desire, ideas are unstoppable forces.

Know your strength and weakness. Understanding your strengths and weaknesses is all about self-awareness. If we are aware of our weaknesses, we can challenge them and prevent them from impacting our goals. Once we understand which weaknesses we have, we can improve our skills or account for these weaknesses through our strengths.

Patience and persistence are essential for getting rich. Becoming rich takes time. It is a state of mind, therefore it can be cultivated. Persistence will pick you up when you get knocked down. There will be barriers and there will be obstacles in my path to get rich, but I must persist on. It is a must, not a should.

Organised Planning is one of the most important subject in the book. For dreams to come true, for us to become financially free, it is essential to create an organised plan. The most intelligent person living cannot succeed in accumulating money, or anything else, without plans which are practical and workable. When your plans fail, that is a temporary defeat, not a permanent failure. It means that your plan may not have been sound, and you need to build new plan and start again.

Mastermind groups is one of my favourite part in the book. It emphasises that you cannot achieve success in vacuum. In order to be successful I have to be with like minded people, focusing on the same goal. Hill suggests that the mastermind groups will help in creating an environment that nurtures and support growth. No one has sufficient experience, education, native ability, and knowledge to insure the accumulation of a great fortune, without the cooperation of other people. When starting or joining a mastermind group, you need to look for these three hallmarks: friendly, growth oriented and willing to share information. Include people who are determined to succeed.

Procrastination and indecisiveness are major causes of failure. This chapter teaches us how not to be swayed by the opinions of others but instead to keep your own counsel (and that of your Mastermind group) so that you make firm, productive decisions that ensure your success.

“There is a difference between WISHING for a thing and being READY to receive it. No one is ready for a thing, until he believes he can acquire it. The state of mind must be BELIEF, not mere hope or wish. Open-mindedness is essential for belief.”

Getting rich is not easy. You generally do not become rich by accident. This book helped me understand the importance of GOAL SETTING and DETAILED PLANNING, which are the basis of every achievement. It is important to come up with a plan that outlines every step you will need to take until realisation of your goal.

There are some books in your bookshelves which you can read many times and every time you will get some new ideas. Think and grow rich is a book like this and is a must have book in your library.

Happy Reading!!!