Think and Grow Rich by Napoleon Hill
Probably one of the most popular and most-read books of all time, Think and Grow Rich is a mainstay on most peoples’ bookshelves. While written in 1937, this bestseller still seems to be able to appeal to a broad audience today. Wiki reports that by 2015, over 100 million copies of the book had been sold worldwide.
There are also newer versions and adaptations coming out all of the time. The version being reviewed here is the Arthur R Pell expanded edition.
Why read it?
For the property investor, Think and Grow Rich should be on your reading list.
Napoleon Hill was tasked by industrialist Andrew Carnegie to interview over 500 affluent men and women to find if there was a secret to attaining great wealth. This newer edition now includes more modern-day achievers such as Bill Gates, Steven Spielberg and Arnold Schwarzenegger, to make it more applicable to today’s reader. But the underlying principles haven’t changed much since the 1930s.
The first thing to say is don’t dismiss this as an old, out-of-date book. It is packed with value. It provides a clear formula to help get the right mindset for success.
The book clearly feels that thought is the primary key to making people successful. It isn’t a book of physical strategies to implement – rather a way to get your mindset primed for the journey ahead.
Hill’s 13 step formula (known as “steps to riches”) are:
- Specialised knowledge
- Organised planning
- Power of the mastermind
- The mystery of sex transmutation
- The subconscious mind
- The brain
- The sixth sense
While some of these may sound just plain weird, stick with it!
We are not going to look at all the formula steps. You can do that yourself by buying the book. But here are some of the key takeaways.
Faith may be a strange thing to find in a book about success and making money. But faith is not necessarily talking about religion – rather the ability to generate a state of mind using affirmation or repeated instruction.
This is heavily related to the next step, Autosuggestion. This can be a hard step to read – the book talks about poverty being the result of mindset as people believe they are doomed to poverty or failure. This negative belief, the book says, is the cause of their misfortune. Hill suggests we have faith in ourselves and faith in the infinite.
We are going to skip a few steps and look at something we all can connect with. Anyone who has been around property or investing for even the shortest period will know about masterminds. The concept was coined in 1925 by Napoleon Hill in his book The Law of Success, then described in more detail in Think and Grow Rich. This book is what gave life to masterminding.
Power of the mastermind
Hill defines a mastermind as: “Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose”.
Strong stuff eh? But now you can see the reason why masterminds are popular, especially those that work. Andrew Carnegie had a mastermind group of 50 men and women. These days, groups tend to be smaller.
The book talks about masterminds in a more theoretical, abstract way. It talks about the psychic force of a mastermind. Again, some of the language used can be hard to follow or even trust. But 500 millionaires can’t be wrong, can they?
Clearing the brain for riches
The book also includes a section on clearing the brain for riches and finishes with the Devil’s workshop. The Devil’s workshop is a chapter which discusses the much-needed strategies of warding off the susceptibility to negative influences. The language used tells us Hill thought this was of vital importance.
This chapter has a self-analysis questionnaire which should be revisited – the author suggests answers should be spoken out loud in your own voice as he felt in this way you are more accepting and will be more truthful to yourself. This can be uncomfortable, and there are a lot of questions, but it may be beneficial to get this done.
This book is a must-read for property developers and investors. It does set the foundation for you to grow and cope with all the things this career path will throw at you. It is not an easy read, and it does ask some difficult questions, but it is a very, good book.
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