Think and Grow Rich
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Dear Friends,
I hope everyone has had a good week so far! 84 years ago, Napoleon Hill studied 500 self-made millionaires and boiled down their success into 13 steps. Think and Grow Rich has been a best seller since 1936, and it remains one of the best self-help finance books to ever exist.
I will breakdown the 13 steps in this article, pay close attention to 11 and 12.
At the peak of Andrew Carnegie's career, he crossed paths with an impressive journalist named Napoleon Hill, who he trusted to document — and share with the world — the strategies that turned him into one of the wealthiest and most successful businessmen of all time. (Andrew Carnegie would have a net worth of $11.1 Billion, if alive today. He was the man behind steel and railroads.)
Important: There is no mention of "money," "wealth," "finances," or "stocks" within Hill's book; he takes a different approach, focusing on breaking down the psychological barriers that prevent many of us from attaining our own fortunes.
This is very important to note because these steps were used to shape some modern psychology. These steps can be used for anything in life not just building wealth.
When you see the word “riches”, you can replace it with whatever thing that you desire.
Let me know in the comments which principal is your favorite!
1. Desire
All of the super successful started with a certain amount of dreaming, hoping, planning, and desiring before they achieved what they desired. Mark Zuckerberg dreamed that he would connect 1 Billion Users, Jeff Bezos dreamed that 50% of the world would buy products on Amazon. They imagined riches before they saw them in their bank accounts or in reality, Hill explains:
Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches.
Hill says write out whatever you want in an written statement. You should read this written statement each morning and every night.
Here is an example of the written statement:
"By the first day of January, 19.., I will have in my possession $50,000, which will come to me in various amounts from time to time during the interim. In return for this money I will give the most efficient service of which I am capable, rendering the fullest possible quantity, and the best possible quality of service in the capacity of salesman of . . . . . . . . . . . (describe the service or merchandise you intend to sell). I believe that I will have this money in my possession. My faith is so strong that I can now see this money before my eyes. I can touch it with my hands. It is now awaiting transfer to me."
2. Faith
Growing rich/accomplishing your goal starts with your mindset. You have to truly believe that you can accomplish whatever it is that you are setting out to do. Someone has to truly KNOW that they will do this, you cannot just “think” that you will.
Hill writes:
Riches begin in the form of thought! The amount is limited only by the person in whose mind the thought is put into motion. Faith removes limitations!
Achieving the goal that you want is not a privilege. It is a right. If you create massive value for others, you have the right to be as rich as you want.
3. Auto-suggestion
Your thought process starts with your sub-conscious mind. One of the keys to accomplishing your desire for wealth or success, requires sending your subconscious mind phrases and mantras that support your goal.
You have to repeat out loud what it is that you want, and how you plan to get it, so you become obsessed with your purpose, Hill explains:
Your ability to use the principle of auto-suggestion will depend, very largely, upon your capacity to concentrate upon a given desire until that desire becomes a burning obsession.
You have to convince your sub-concious mind that you can do whatever it is that you desire.
To be honest, I am not the biggest Jim Carey fan. (He does have a few classics.)
With that being said, watch this short video on how he used Auto-Suggestion.
4. Specialized knowledge
Successful people read daily. They take courses, they listen to podcasts they are in a CONSTANT STATE OF LEARNING.
You're never done learning, Hill emphasizes:
Successful men, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession. Those who are not successful usually make the mistake of believing that the knowledge-acquiring period ends when one finishes school.
I tweeted this yesterday as I was planning this newsletter.
5. Imagination
Everything in this world that we see was created from someone’s imagine. Do not be scared to come up with new ideas on how to do things.
Successful people in business, artists, sports, science, and many other subjects became great because they developed the power of imagination.
If you can imagine it, you can create it, says Hill:
Ideas are the beginning points of all fortunes. Ideas are products of the imagination. Man's only limitation, within reason, lies in his development and use of his imagination.
6. Organized Planning
Once you've visualized your success, you need to take action and go after exactly what you want. You cannot wish, you have to actively pursue what you want by hardwork and a plan.
Most of us are good "starters" but poor "finishers" of everything we begin. People will also give up when the going gets tough. Persistence and focus are key, this all starts with a plan.
Opportunity has spread its wares before you. Step up to the front, select what you want, create your plan, put the plan into action, and follow through with persistence
7. Decision
Defeat procrastination with decisiveness. A key trait Hill recognized in all of the individuals he studied who acquired great wealth was decisiveness. Those who settle on decisions quickly know what they want, and they tend to get what they want.
You have to remember that in 100 years, we unfortunately won’t be on this planet anymore. It is okay to mess up, it is not okay to not make a decision.
People who fail to accumulate money, without exception, have the habit of reaching decisions, if at all, very slowly, and of changing these decisions quickly and often.
8. Persistence
Persistence is so important when trying to accumulate wealth/success, however few people possess the willpower required to turn their desire for wealth/success into actual action.
Riches do not respond to wishes. They respond only to definite plans, backed by definite desires, through constant persistence.
Mark Cuban has one of my favorite quotes: "I've learned that it doesn't matter how many times you failed. You only have to be right once. I tried to sell powdered milk. I was an idiot lots of times, and I learned from them all."
9. Power of the Master Mind
Wealthy people have a master mind. What is a mastermind? It is simply a network of other successful people. The best way to learn about success is from other successful people.
We are so LUCKY because we live in such an easy time to network. You can dm people, email people, zoom call with them. What is the worst thing to happen? You get left on read? Come on.
No individual may have great power without availing himself of the "Master Mind"
10. Your Partner
You must have a partner who believes in you, believes and supports your goals and understands what it takes to get you where you want to go. If not, you will struggle. If your partner is constantly negative about your dreams and goals than chances are that will get in your head and you won’t be successful.
This one is so important, it basically goes back to who you associate with in number 9.
11. The Subconscious Mind
If you truly want to be rich, you have to plant that desire, and then your plan, into your subconscious mind.
Positive and negative emotions cannot occupy the mind at the same time. One or the other must dominate. It is your responsibility to make sure that positive emotions constitute the dominating influence of your mind.
The subconscious mind will not remain idle! If you fail to plant desires in your subconscious mind, it will feed upon the thoughts which reach it as the result of your neglect.
12. The Brain
You want to learn from those who have what you have, you want to surround yourself with those who you can learn from, be inspired by. This is a cumulation of #9 and #11 and is incredibly powerful.
You should be following people on social media, who inspire you to be better each day.
Every human brain is capable of picking up vibrations of thought which are being released by other brains ...
The Creative Imagination is the "receiving set" of the brain, which receives thoughts released by the brains of others.
13. The Sixth Sense
Trust your gut.
This final chapter doesn’t do the best job of explaining this, but it is that simple!
Let me know in the comments which principal is your favorite!
Have a great rest of the week.
Stay Hungry, Stay Long :)
Matt Allen
Awesome newsletter