“This book contains the secret” – Napoleon Hill.
This Think and Grow Rich summary with key takeaways, will provide you with part of that secret.
“It was Mr. Carnegie’s idea that the magic formula, which gave him a stupendous fortune, ought to be placed within reach of people who do not have time to investigate how men make money”.
Think and Grow Rich is based on 20 years of research. 500 ultra-rich people were studied at the request of business tycoon and billionaire (in today’s money) Andrew Carnegie. Carnegie was an American industrialist with a net worth of $480 million in 1901, or the same as $310 billion today. This is almost 4 times the net worth of Bill Gates.
Among the famous men who used “the carnegie secret” to accomplish their success are: Henry Ford, William Wrigley Junior (Chewing Gum), James J. Hill, Theodore Roosevelt, Charles M. Schwab, John D. Rockefeller.
The principles you will learn in this book, convinced Mr. Carnegie that much of what is taught in school, is of no value in connection with accumulating riches. He came to this conclusion after taking in young men of little and no education and schooling them in the principles outlined in “Think and Grow Rich”. These men made huge fortunes.
DESIRE: The starting point of all riches.
What you desire and what you think about the most, is an accurate picture of what you will become in the future.
Desire according to Hill, is a very important ingredient in growing rich. It is necessary to carry you through the inevitable temporary failures and set backs you will experience. You need a burning desire to accomplish what you want. You need a burning desire so strong that nothing can stop you, no one can talk you out of your plan and no temporary failure can discourage you.
How can I get such a burning, unstoppable desire? Napoleon Hill states that the key is to go all in, to burn bridges so that you HAVE to win.
You accomplish your desire by following Napoleon Hill’s 6 steps:
- Fix your mind on the exact amount of money you want. Be definite.
- Decide what you intend to give in return for the money. This could be in the form of selling a product or service.
- Select a definite date by which you will be in possession of the money you desire.
- Prepare a definite plan, and begin to implement it immediately. Begin whether you are ready or not.
- Write down everything. Sum up step 1-4 in a clearly written statement.
- Read out your written statement first thing in the morning and just before retiring at night. Use your imagination to see and feel yourself already in possession of the money. See yourself as already being where you want to be.
“The objective is to want money, and to be so determined to have it, that you convince yourself you will have it. Only those who become money conscious, ever accumulate great riches.” – Napoleon Hill.
If you’re in doubt about if these steps works, you may want to remember that the information they convey were conceived by Andrew Carnegie.
To illustrate how your desire will bring results, Napoleon Hill cites this great poem by Jesse B. Rittenhouse:
“I bargained with Life for a penny,
And Life would pay no more,
However I begged at evening
When I counted my scanty store;
For Life is just an employer,
He gives you what you ask,
But once you have set the wages,
Why, you must bear the task.
I worked for a menial’s hire,
Only to learn, dismayed,
That any wage I had asked of Life,
Life would have paid.”
The Law of AUTO-SUGGESTION
“The man who wins, is the man who thinks he can”.
Auto-suggestion is used to plant an idea or thought in the subconscious mind. People who are unsuccessful use auto-suggestions negatively, and people with success, use auto-suggestion positively.
Why does auto suggestion work?
Autosuggestion works because all thoughts have a tendency to become their physical equivalent. Your subconscious mind, or “computer hard disk” is where all thoughts are combined and are made ready for transformation into physical reality. It doesn’t discriminate. It execute on whatever you feed it. Bad or good thoughts.
Auto-suggestion is a way to sow seeds of success in your subconscious mind. Without it, uncontrollable weeds of trouble may grow instead.
When using the principle of auto suggestion, you should mix your suggestions with emotions and feelings. Your subconscious will only act on emotions. This is very important, so let’s repeat it: Unemotional words has absolutely no effect on the subconscious mind.
The key to this book is to understand that you want to work with your subconscious to attract your desire. You do that with persistent emotional auto-suggestions based on your desire. Auto suggestions to use may be the 6 steps mentioned earlier under “Desire” and it may be the following.
The self-confidence auto-suggestion formula
According to Hill, your greatest weakness is a lack of self-confidence. This seems very true. Your lack of self-confidence can be turned in to courage by using what’s called auto-suggestion.
- I know that I have the ability to achieve the object of my Definite Purpose in life, therefore, I DEMAND of myself persistent, continuous action toward its attainment, and I here and now promise to render such action.
- I realize the dominating thoughts of my mind will eventually reproduce themselves in outward, physical action, and gradually transform themselves into physical reality, therefore, I will concentrate my thoughts for thirty minutes daily, upon the task of thinking of the person I intend to become, thereby creating in my mind a clear mental picture of that person.
- I know through the principle of auto-suggestion, any desire that I persistently hold in my mind will eventually seek expression through some practical means of attaining the object back of it, therefore, I will devote ten minutes daily to demanding of myself the development of SELF-CONFIDENCE.
- I have clearly written down a description of my DEFINITE CHIEF AIM in life, and I will never stop trying, until I have developed sufficient self-confidence for its attainment.
- I fully realize that no wealth or position can long endure, unless built upon truth and justice, therefore, I will engage in no transaction which does not benefit all whom it affects. I will succeed by attracting to myself the forces I wish to use, and the cooperation of other people. I will induce others to serve me, because of my willingness to serve others. I will eliminate hatred, envy, jealousy, selfishness, and cynicism, by developing love for all humanity, because I know that a negative attitude toward others can never bring me success. I will cause others to believe in me, because I will believe in them, and in myself.
Planning and Failure
“Your achievement can be no greater than your plan are sound”. – Napoleon Hill
People are only broke because they lack a sound plan, from which to make money.
Remember when you fail, that temporary defeat is not permanent failure. To support this Hill mentions that Thomas Edison failed and had to change his plans 10.000 times before perfecting the incandescent light bulb. Temporary defeat means ONLY one thing: that there is something wrong with your plan. Change it, and try again.
Don’t quit because your plan fails. Make a new plan. “Quitters never win and winners never quit”.
Use a Mastermind Group
Surround yourself with the advice of a group of people who are willing to lend wholehearted aid. This form of alliance have been the basis of nearly every great fortune. Andrew Carnegie attributed his fortune to the power he got from his master mind group.
The spiritual aspect: When two minds comes together and cooperate, they create a third intangible force which can be compared to a third mind. There are two known elements in the universe: energy and matter. The increased energy obtained from more minds provides extra power to transform your thought of desire into reality (matter).
Henry Ford success became noticeable after he became a friend of Thomas Edison. Coincidence? Henry Ford used the mastermind principle to add to his own brain the sum of the intelligence, experience, knowledge and spiritual forces of powerful men as Thomas Edison.
“No individual has sufficient experience, education, native ability and knowledge to ensure the accumulation of a great fortune without the cooperation of other people.”
A few rules on decisions:
- Reach your own opinions and follow them.
- Don’t follow others opinions, only the ones of your mastermind group.
- If your decisions are easily influenced by others, work to have a stronger desire.
- Definite decision always requires courage.
- Leaders decide quickly and firmly. Get rid of the habit of indecision.
“Without persistence you will be defeated even before you start. With persistence, you’ll win.”
Napoleon Hill states that there is no substitute for persistence it can’t be substituted by any other quality. The habit of persistence seems to be an insurance against failure. Refuse to quit.
Persistence is a state of mind and these principles will help cultivating it:
- Definiteness of purpose. Know what you want.
- Self reliance and self confidence.
- Definiteness of plans.
- Accurate knowledge. Knowing that your plans are sound.
- Cooperation with others.
- Will power.
- Habit. Persistence is a product of habit.
Do you lack any of these?
Here are four steps to cultivate persistence:
- A definite purpose backed by burning desire.
- A definite plan expressed in continuous action.
- A mind closed to negate influences and negative suggestions.
- Friendly alliance with persons who will encourage you to follow through on plan and purpose.
The Subconscious Mind
The subconscious is your computer hard disk of thoughts and memories.
It is the connecting link between the finite mind of man and infinite intelligence. It is through this part of your mind, that you can draw upon infinite intelligence. If you don’t take control and decide what you’ll feed your subconscious mind, it will feed of whatever is given to it elsewhere.
Thoughts reside in your subconscious where they act as magnets attracting their physical equivalent. Only thoughts with emotional energy behind it, have any influence on the subconscious mind. Thought impulses mixed with emotion is acted upon, where thoughts based on pure reason is ignored. To speak effectively to your subconscious, you must understand it’s preferred language. That language is emotions and feelings.
Here are the 7 major positive emotions, you can use to communicating with your subconscious:
That concludes this Think and Grow Rich summary.
The full book consists of 13 overall steps to success. “The money making secret” as Hill calls it.
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