Name : Zaiena Naeem (GR) Roll no : F20-BBA-5075 Financial Accounting Topic: Think and Grow Rich (Book Summary) Submitted to : Dr. Umer Iqbal BBA 3rd Semester Evening Section A University of Okara 31st January, 2022 THINK AND GROW RICH This book was written by Napoleon Hill who was known for his principles to improving one’s life. He received the assignment to interview Andrew Carnegie who was one the richest and influential men at that time, Carnegie challenged Hill to interview other wealthy and successful people to discover a simple formula for success. And the result was this book, “Think and Grow Rich”. The book “think and grow rich” not only talks about how to think big and grow your income to become rich but also interpret all mental barriers allocated to lack of growth. The book organizes ways into the power of burning desire to change your mind and ultimately change your life. The book highlights the importance of thoughts and mind power. Desire According to Napoleon Hill, desire is the starting point of all achievement. Anyone can achieve anything they want if they have a strong enough burning desire. And desire is not the same as a wish or a hope, it is definite and limitless. In the book, Hill shared a six-step method how anyone can achieve what they desire in life. First, he said, is to fix in your mind the exact amount of money you desire to achieve. Second, determine exactly what you are willing to commit to receiving this amount of money. Next, specify an exact date by when you want to achieve it. Fourth, create a plan and take the first step immediately. And then describe your desire in a clear and concise sentence. Finally, read the state aloud twice daily. These six steps are a part of the transformation of what you desire in your mind into the physical equivalent. It is the beginning of the key principle of the book, which is to tap into the power of your subconscious mind to accomplish what it is directed to do. Faith In the second chapter, Hill wrote about the importance of having unshakable faith. He admitted that it is difficult and challenging to be faithful when everything else around you is falling apart, but Hill said that faith is absolutely essential especially during tough times. Hill suggested his readers to build faith by spending 30 minutes on their thoughts every day to move one inch closer to success because the positive thoughts in your mind are extremely powerful and can influence you to move in the right direction even during tough times. One of the famous quotes from Napoleon Hill is this, “Whatever the mind can conceive and believe it can achieve”. Autosuggestion Auto-suggestion is a technique of teaching yourself to believe that you can achieve whatever you want. In order to do that you just sit in a peaceful and quiet area, and read your statement while visualizing and believing that you have already achieved your desire. Hill wrote that when you reach your own subconscious by channeling your thoughts, success will not be such an enigma anymore. Auto-suggestion will create a determined faith in you that will steer you in the right direction that you want to travel. Just like driving a car, you do not need to focus on doing it because you have trained your brain and body to act on it automatically, like your second nature. And when you have convinced yourself about the desire you want to achieve through auto-suggestion, you will work on the success you desire and gain desirable results effortlessly. Imagination Hill said that imagination is one the most important steps towards success that everyone must use. And he explained that there are two types of imagination, one is the synthetic imagination, which simple rearrange the existing ideas into new concepts. And other one is the creative imagination, which creates something from nothing. Most people thought that richest come from hard work, which according to Hill, is only partially true. Hill wrote that riches come “in response to definite demands, based upon the application of definite principle, when a creator of ideas and a seller of ideas got together and worked in harmony.” The ideas that come from imagination are the forces that cause things to come into reality. And so you must add imagination to your specialized knowledge to grow rich. Organized Planning Hill discussed how one can achieve extraordinary success through organized planning. He shared with the readers a couple of steps that can be taken to construct a practical plan to accomplish what people desire. First, Hill said, you must associate yourself with other people to create a direction and put your plan into action. And he calls this group of people, the ‘mastermind’, which he also dedicates a whole chapter to this subject. And before you form alliances with this group of people, you need to determine what you can offer them in return for their help and cooperation. Besides that, you must make sure you meet with your mastermind group at least twice every week to perfect your plan and strategize your action. And make sure to always maintain harmony with your group to achieve better results. Decision According to Napoleon Hill, one of the most common reasons people fail is because of procrastination. He says that it is important to avoid procrastination and take immediate action. Most people will wait and refuse to do things immediately which cause them to lose motivation and eventually, fail in their venture. The ability to decide quickly with determination comes from having a definite purpose and understanding exactly what you want. And this ability defines leaders. As Hill wrote, “The world has the habit of making room for the man whose words and actions show that he knows where he is going.” Apart from that, Hill also said that if you are easily influenced by others and take a long time to make a decision because you need to listen to advice from others, you will rarely succeed. It means that you do not have a strong burning desire for what you want. You must use your own brain, thoughts, body, and soul to make your decisions and stand by them. Fear Hill states that you must ensure that you aren’t being held back by any of what he refers to as “the six basic fears.” The fear of poverty The fear of criticism The fear of ill health The fear of the loss of someone’s love The fear of old age The fear of death Fear is nothing but a state of mind, and the mind can be directed. Therefore, you can control your fate by controlling your mind and, thus, overcome fear and accumulate all of your desired riches. By training our minds and allowing positive thoughts, we can overcome these fears. The book also highlights the importance of staying busy in order to avoid the gateway to these )negative thoughts.
