Think and Grow Rich is one of the most famous bestsellers in the history of self-help literature. It teaches us how growing rich is just a matter of changing your mindset. In this article, you will find a summary of each chapter from Think and Grow Rich by Napoleon Hill.
Crucial to understand from a summary of Think and Grow Rich is that the emphasis is on "think". This means that you really need to set your Mindset to thinking (and seeing) yourself rich. How to do this is explained in the book using the steps below.
On to the summary!
Introduction Think and Grow Rich
"When you begin to THINK AND GROW RICH, you will observe that riches begin with a state of mind, with definiteness of purpose, with little or no hard work." Napoleon Hill.
Hill begins this chapter by talking about the power of thought. When it comes to growing rich, it is not so much the hard work that matters. What truly makes a difference is the way you think.
He gives many examples to illustrate the importance of persistence. First, he mentions the story of Edwin Barnes, a man who dreamed of patterning with Thomas A. Edison. He faced many obstacles but never gave up and eventually succeeded. They became business partners, and this alliance made Barnes rich.
Hill also tells the story of Mr. Darby, a man who bought machinery to mine gold. He gave up after many unsuccessful attempts and sold the machinery to a "junk" man. Then, the junk man examined the mine and kept drilling and he found gold only three feet deeper from where Darby stopped drilling.
Finally, the author includes the story of Henry Ford and his famous V-8 motor. He told his engineers to produce it, even after they agreed it was impossible. Months passed, and nothing happened, but Ford persevered. His determination gave him success.
“Ford is a success because he understands and applies the principles of success”, said Hill. If any of us does the same, we will become successful too.
DESIRE (The First Step to Riches)
The starting point of all achievement is desire, according to Napoleon Hill. What differentiates desire from simply wishing for something is that desire is specific and insatiable. In other words, if you have a burning desire for something specific for enough time, you will achieve it.
Hill mentions again the example of Edwin Barnes and how he persevered until he became Thomas A. Edison's business partner. He had a burning desire, and he did not give up.
Becoming financially free, the goal that Happy Investors started with and now helps people with, also starts with desire. We emphasize starting to invest, but it starts in your own mind. How badly do you want to become richer? Why? This motivation can be turned into a deep desire. And this leads you to keep going. Whether that's about entrepreneurship, ETF investing, or figuring out passive income.
In this chapter, Hill shares his 6 Steps to Turn Desire Into Riches (Or Accomplish Any Goal). Here is a summary of it:
- Fix in your mind the exact amount of money you desire. (Be specific)
- Determine exactly what you intend to give in return for the money you desire.
- Establish a definite date when you intend to possess the money you desire.
- 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.
- Write out a clear, concise statement for all of this.
- Read your written statement aloud, twice daily. As you read, feel and see yourself already in possession of the money.
FAITH (The Second Step to Riches)
Faith is mental energy that can lead your life through belief and hope. It is an essential aspect of the mind that allows you to achieve goals when you combine it with thought and a specific intention.
The subconscious refers to the set of mental processes, not consciously perceived by man. However, it can arise in any situation and intervene in your behavior, being an aspect considerably meaningful for the man's mind because you can develop faith.
You can transfer wishes into the mind through the subconscious, making them have more energy and strength.
The most important thing is to keep in mind any project, idea, or purpose can be installed in the mind through repetition. For this reason, you should capture your main goal and repeat it out loud, every day, until the point where the vibrations reach the subconscious.
AUTO-SUGGESTION (The Third Step to Riches)
The action of autosuggestion allows the individual to deliver stimuli to the mind through the five senses. It occurs between the conscious and the subconscious, so it is an essential reason to develop this state. We find that it also has many connections to the law of attraction.
The subconscious complies and follows whatever instructions are given to it.
The key to using autosuggestion productively is that people have to focus on their desire, to the point that it becomes a true vibrant obsession.
The subconscious must be stimulated to deliver great products.
SPECIALIZED KNOWLEDGE (The Fourth Step to Riches)
There are two types of knowledge: general knowledge and specialized knowledge. Both are important, but If you want to achieve success and riches, you should develop specialized knowledge.
Here are some ways to develop specialized knowledge: experience and education, teamwork, college, books, and educational courses.
IMAGINATION (The Fifth Step to Riches)
Imagination is a tool that humans have to overcome all the forces of nature and man himself.
As well as specialized knowledge, the individual can use the imagination as he sees fit, and it is the responsibility of the one who uses it to work for the benefit of his own goals.
There are two types of imagination: creative imagination and synthetic imagination. The first refers to the lack of limits of the mind that leads it to think and act.
The second is about the imagination that does not convert, or that does not lead to actions.
ORGANIZED PLANNING (The Sixth Step to Riches)
Every success begins with intense fervor, then becomes an idea, and in the imagination can be crystallized into a plan that projects from theory to practice.
However, this chapter emphasizes the importance of organization. It is necessary to know precisely what you want to provide, as well as to carry out analyzes every year, to make the necessary modifications.
DECISION (The Seventh Step to Riches)
The decision with which things are done is an essential part of success. Failure to make the decision results in defeat.
Knowing how to make decisions on time determines where you are heading.
PERSISTENCE (The Eighth Step to Riches)
As the well-known phrase says: "Whoever perseveres wins", it is the energy and willpower to achieve what is desired that allows you to get where you want.
Perseverance is crucial. Young people in particular sometimes lack this. Get rich quick? That's usually a lot of disappointment. In our view, it is much smarter to strive to become rich slowly. That is relatively easy and also requires less risk. Instead of crypto investing, you could, for example, consider investing in stocks (with dividends) and diversified stock and real estate funds.
POWER OF THE MASTER MIND (The Ninth Step to Riches)
The projects that are attempted to be carried out require the force of power to convert them into concrete action.
Work teams achieve power, through the connection with strong minds that become unbeatable energies to obtain results for the benefit of achieving success. All millionaires have a "mastermind" team.
In practice, this means looking for a team of specialists at work or within entrepreneurship. Brainstorm and work together on a concrete goal, and you will get much further than on your own.
THE MYSTERY OF SEX TRANSMUTATION (The Tenth Step to Riches)
The forces emanated from sex can be used to achieve and create.
Therefore, sexuality is the "creative energy of all geniuses". This is through the process of sex transmutation. In other words, channeling sexual energy into constructive actions for the human being.
As far as we are concerned, this step is a bit vague, but let's go with it 😉 .
THE SUB-CONSCIOUS MIND (The Eleventh Step to Riches)
It refers to the fact that for thoughts to have affirmative effects on the subconscious they must be emotionalized or acted upon so that they can exert authentic power and mental strength.
THE BRAIN (The Twelfth Step to Riches)
The brain is not only a physical organ of the human body with biological functions, but it is a valuable element to achieve success.
THE SIXTH SENSE (The Thirteenth Step to Riches)
The sixth sense is creative imagination. You can achieve it through meditation and intimate mental development.
If you know how to use it, it will open many possibilities for you.
In essence, this is a concise summary of Think and Grow Rich. Key concepts include developing a "burning desire," applying autosuggestion, and assembling a master team. But all steps are equally valuable and should be followed as a roadmap to success. We recognize the mechanics of this, and this summary of Think and Grow Rich is really not enough to understand the real essence. We recommend buying this book because it is crucial to your personal development.
HOW TO OUTWIT THE SIX GHOSTS OF FEAR (Clearing the Brain for Riches)
Do not get caught up in any fear or fear that tries to attack you, they are harmful to success, and can lead to defeat. The most common fears you should prevent are poverty, criticism, poor health, loss of a loved one, old age, and death.