Updated: Jul 20, 2020
"Think and Grow Rich" by Napoleon Hill is about financial management. Now, this book is a bit old fashioned but it's still relevant in today's time because financial things become more complicated today than they were back then, you must be
reading this book to have a better analysis of finances.
In this book, Hill emphasized on some thoughts that you must be having, if you want to become rich. Here are some of the key takeaways from the book:
1. DESIRE :
The starting point of all achievement is desire. You should have a burning desire to achieve something, you should be passionate about it.
"A burning desire to be and to do is the starting point from which the dreamer must take off. Dreams are not born of indifference, laziness, or lack of ambition.”
“Those who win in any undertaking must be willing to burn their ships and cut all sources of retreat. Only by so doing can one be sure of maintaining that state of mind known as a burning desire to win, which is essential to success.”
a.) Specific Goal: Fix in your mind the exact amount of money you desire. It is not sufficient merely to say, “I want plenty of money.” Be definite as to the amount.”
b.) What will give you in return:
Determine exactly what you intend to give in return for the money you desire. (There is no such reality as “something for nothing.”)
c.) Set a deadline: Establish a definite date when you intend to possess the money you desire.
d.) Create a plan: Create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put this plan into action
e.) Write on paper: Write out a clear, concise statement of the amount of money 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.
2. FAITH :
Faith is a state of mind which may be induced by autosuggestion.”
“Faith is a state of mind which may be induced, or created, by affirmations or repeated instructions to the subconscious mind, through the principle of autosuggestion.”
"Nothing is impossible to the person who backs desire with enduring faith.”
Riches come to those who believe that they deserve it and say they are faithful in their thoughts.
Suggest something definite and specific to yourself. Like any tool wrongly used it can cause harm, but used properly it can be extremely helpful.
“Any idea, plan, or purpose may be placed in the mind through repetition of thought.”
It should be like- I will do it, Get the job done at 6'o o'clock, I will be a Rich, etc.
4. SPECIALIZED KNOWLEDGE :
There are two kinds of knowledge. One is general; the other, specialized. General knowledge, no matter how great in quantity or variety it may be, is of but little use in the accumulation of money.
It sounds cool ' Jack of all trades but master of none' but it won't help you at all. It's not intelligence. You don't want a doctor who knows about everything but doesn't specialize in anything. And like we have different teachers for different subjects because specialized knowledge is way better than general knowledge of everything.
5. IMAGINATION :
“Go into some quiet spot (preferably in bed at night) where you will not be disturbed or interrupted, close your eyes, and repeat aloud (so you may hear your own words) the written statement of the amount of money you intend to accumulate, the time limit for its accumulation, and a description of the service or merchandise you intend to give in return for the money.”
“As you carry out these instructions, see yourself already in possession of the money. For example, suppose that you intend to accumulate $500,000 by the first of January, five years hence, that you intend to give personal services in return for the money in the capacity of a sales representative.”
6. Organized PLANNING :
The author says that if you have an idea or someone else has another idea to collaborate both ideas and you'll get a bigger idea..“As knowledge is acquired, it must be organized and put into use, for a definite purpose, through practical plans. Knowledge has no value except that which can be gained from its application toward some worthy end.”
7. DECISION :
"Your major purpose in life, the goal toward which you are working, will help determine what knowledge you need.”Make a clear decision whether I want it or not and then work on it.
One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat. Before success comes into your life, you are sure to be met with much temporary defeat and, perhaps, some failure. DON'T GIVE UP!!
9. SUBCONSCIOUS MIND :
Your subconscious mind recognizes and acts only upon thoughts which have been well-mixed with emotion or feeling. And all thoughts which have been emotionalized (given feeling) and mixed with faith begin immediately to translate themselves into their physical equivalent or counterpart. Each of us is what we are because of the dominating thoughts which we permit to occupy our mind. So, make sure you're impregnating positive thoughts in your subconscious because Any idea, plan, or purpose may be placed in the mind through repetition of thought.
10. BE A FOLLOWER :
The person who can follow a leader most efficiently is usually the one who develops into leadership most rapidly.
Most great leaders began in the capacity of followers. They became great leaders because they were intelligent followers.
Last but not the least, " Positive and Negative emotions cannot occupy the mind at the same time "
--> The seven major POSITIVE emotions are :
--> The seven major NEGATIVE emotions are :
The book is short and simple no complicated words are used. Apart from it, the author has given wonderful stories of all great leaders who are very inspiring.
Some principles and tricks are quite imaginary like the title itself and sometimes I can't understand the logic behind it. Since the book was published in 1937 many people say it is outdated.
Some say that Hill was a fraud and new authors question his knowledge.
However, it depends upon people to people so go read Think and Grow Rich and see how you think it is