Super Concise Summary of Think And Grow Rich by Napoleon Hill who interviewed the industrialist and philanthropist Andrew Carnegie and many others.

Temporary Defeat

One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat.

There will be temporary defeat or some failures in life but instead of submitting to them, profit from them by studying what those are and learning from them! They are now part of your knowledge.

Six Definite Practical Steps Towards Riches (Goal Setting)

  1. Fix in your mind the exact amount of money (or concrete goals) you desire. For example, instead of saying “I want to make a lot of money”, be definite about how much you want.
  2. determine exactly what you intend to give to acquire that money.
  3. Set a definite date when you intend to possess that money. Personally, I will be setting a yearly goal and break it into quarterly goals.
  4. Create a definite plan for carrying out your desire.
  5. Write out step 1–4 into a clear and concise statement.
  6. Read your written statement aloud twice a day, once before going to bed at night, and once after arising in the morning. As you read, see and feel and believe yourself already in possession of the money.

Specialized Knowledge

An educated man is not necessarily one who has an abundance of general or specialized knowledge. An educated man is one who has so developed the faculties of his mind that he may acquire anything he wants or equivalent, without violating the rights of others.

Important Factors of Leadership

  1. Unwavering courage based upon knowledge of self.
  2. Self-control.
  3. A keen sense of justice.
  4. Definiteness of decision.
  5. definiteness of plans.
  6. The habit of doing more than paid for.
  7. A pleasing personality.
  8. Sympathy and understanding.
  9. Mastery of detail.
  10. Willingness to assume full responsibility.
  11. Cooperation.

There are two types of leadership: leadership with the consent and sympathy of the followers and leadership by force. History tells us that the leadership by force does not last. People won’t follow forced leadership indefinitely.

Persistence

  • Definiteness of purpose. Knowing what you want is the most important step toward the development of persistence.
  • Desire.
  • Self-reliance.
  • Definiteness of plans.
  • Accurate knowledge.
  • Cooperation.
  • Willpower.
  • Habit.

This book was somewhat common sense to me but the most important lesson I learned was setting definite and time-bound goals that I want to accomplish. I realized that this approach, adopted by companies in project management, can also be applied to personal development and wealth accumulation. I’d recommend reading a book if you want to see examples or observations the author provides to support his statements. Otherwise, just google “think and grow rich summary” and ta-da! That’s all you need to read.



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