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Think and Grow Rich


One of the all-time leading books on creating and maintaining wealth. However, in many ways it is also a practical guide on how to live and conduct yourself to achieve a quality and happy life.

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Key Takeaways
  1. Must have a Definite Chief Aim (DCA) and focus on it intently. Can have no doubt and must have a burning desire to achieve your DCA
  2. Thoughts are manifested into reality so must have a very clear picture of what you want and make sure no negative thoughts creep in. Figuring out your DCA is often one of the more difficult things you'll have to do
  3. Habitualize positive acts and emotions as much as possible. Habits require less willpower and will allow you to achieve more
  4. Having a mastermind group is vital
What I got out of it
  1. In many ways this book, although centered around wealth and investing, preceded many of the same sentiments found in "self-help" type books such as Rhonda Byrne's The Secret. You must have a very clear goal that you think of often before you can make it happen.
Chapter 1 - Intro
  • Education has nothing to do with success
  • All achievements begin simply as an idea
  • Must know clearly what you want and searching for
  • Act on your burning desire and believe in it - turn ideas into reality
  • Opportunity is often disguised as tragedy
  • Just takes one sound idea for riches to fly in
  • Begin with a state of mind, defined purpose and a little hard work
Chapter 2 - Desire: The Starting Point of All Achievement
  • Definiteness of Desire - must be able to imagine supremely clearly what it is you want to achieve
  • Every great leader was a dreamer
  • No one ever defeated until they accept it as a reality
  • Hill's son was born without ears but describes how desire and faith helped them work through it
Chapter 3 - Faith Visualization of, and Belief in Attainment of Desire
  • Faith can be induced by affirmation or repeated instructions to subliminal mind
    • Eventually it is accepted, acted upon and turned into reality
  • Have the power to be the creator of our own fortune or misfortune
  • Conduct self as already in possession of whatever it is you want
  • One believes what one repeats to oneself over and over
  • Idea and emotion is like a magnet that attracts similar things (pair with Byrne's The Secret)
  • Write down and constantly repeat your DCA
  • Subliminal mind does not differentiate between thoughts so make sure they are positive and aimed towards what you want
  • Love is extremely powerful and attracts more love
  • Leaders must rule by faith to get complete buy in (Gandhi)
Chapter 4 - Auto Suggestion: The Medium for Influencing The Subconscious Mind
  • Auto-suggestion = self-suggestion which leads to thoughts which leads to action which leads to reality
    • Must truly believe it though and must be your burning obsession
  • Man is his own master because he can influence subliminal mind and make his thoughts into reality
Chapter 5 - Specialized Knowledge, Personal Experience or Observations
  • Knowledge will not attract money unless it is organized towards the accumulation of money. General knowledge not very useful
  • Knowledge is only potential power. Must act
  • Educated man is one who has developed the faculties to get whatever he wants. Knows where to get knowledge when it is needed
  • Specialized knowledge is one of the cheapest, most plentiful services available
  • Learning never ends, the continuous pursuit of knowledge leads to success
  • Anything acquired without effort or cost is often under appreciated or discredited
  • Success and failure are largely a source of habit
  • Associate with the best - those who don't compromise in situations they don't like
Chapter 6 - Imagination: The Workshop of the Mind
  • Man can create anything he can imagine
    • Synthetic - combine old concepts in a new way
    • Creative - hunches or inspiration lead to brand new ideas
  • The more you use your imagination, the better it will work
  • Ideas are the beginning point of all fortunes
  • Solely hard work, honesty will not bring riches. Application of definite principles leads to riches
  • Surround self with those who can do what you cannot
Chapter 7 - Organized Planning: The Crystallization of Desire Into Action
  • Form a definite practical plan, create a mastermind group (smart and amazing people you can bounce ideas off and want to surround yourself with), keep iterating
  • You never lose until you decide so
  • Knowing what not to do is just as essential as knowing what to do
    • Pair with an excellent Charlie Munger quote - “It is remarkable how much long-term advantage people like [Warren Buffett and myself] have gotten by trying to be consistently not stupid, instead of trying to be  very intelligent."
  • When applying for a job need - education, experience, reference, photo, apply for specific position, qualifications, work for probation, knowledge of business
  • Nothing ever happens without a cause
  • QQS - Quality, Quantity, Spirit
  • Capitalistic system is amazing as it leads to freedom and options
Chapter 8 - Decision: The Mastery of Procrastination
  • Reach decisions promptly and change slowly
  • Opinions are the cheapest commodities on earth
  • Listen more than you speak - genuine wisdom usually conspicuous through modesty and/or silence
  • Many monumental people and events have unassuming beginnings
Chapter 9 - Persistence: The Sustained Effort Necessary to Induce Faith
  • Persistence is essential, as is will-power and desire
  • Weak desires bring weak results
  • Every failure brings with it the seed of a similar advantage
  • Persistence based upon definite causes
  • Persistence is the direct result of habit
  • Too many people refuse to set high goals for themselves
  • 4 Steps to gain persistence
    1. Define your definite purpose and have that burning desire
    2. Continuous action on that desire
    3. A mind defended against all negative influences
    4. A friendly alliance with one or more people who will encourage you
Chapter 10 - Power of the Master Mind: The Driving Force
  • Power - organized and intelligently directed knowledge
    • Sources of knowledge - Infinite intelligence (greatest source of all power), experience, experiment and research
  • Mastermind - coordination of knowledge and effort between 2 or more people to attain a definite purpose
    • A necessity for success as it leads to synergies
Chapter 11 - The Mystery of Sex: Transmutation
  • Transmutation of sexual desire into accumulation of riches and super human creativity
  • Behind all great men are great women who can get the man to channel his sex-energy properly
  • Most people are successful after their 40s/50s as their sexual energies don't rule their lives (at least as much)
  • Sex is the most powerful mind stimulant
  • Genuine love forever leaves traces on the heart
  • One who has loved truly cannot lose entirely
  • There should be no disappointment over love as all love experiences are beneficial
Chapter 12 - The Subconscious Mind: The Connecting Link
  • Can voluntarily plant any thought or desire into subconscious to turn it into a reality
  • Subconscious mind is the link to Infinite Intelligence
    • Works day and night and we must be clear and proactive as to which thoughts our subconscious focuses on and must be mixed with deep emotion in order to be effective
Chapter 13 - The Brain: A Broadcasting and Receiving Station for Thought
  • To use your "broadcasting" station, just 3 principles to keep in mind - power of the subconscious, creative intelligence and auto-suggestion
Chapter 14 - The Sixth Sense: The Door to the Temple of Wisdom
  • Sixth sense = "receiving" set, where hunches and intuition is received from the creative intelligence
  • The Infinite Intelligence is a power which permeates every action in the universe
  • Hill used the "invisible counselors" method when struggling with a big decision. Would imagine himself surrounded by great people he admired and wanted to emulate. Then, run your problem by them and imagine the responses each of these people would give you in your situation
  • Starting point of all achievement is desire
  • Fears are ghosts as they are only really in one's mind. Even still, fears have caused most of the damage to people's lives and are therefore just as dangerous as if physically real
Chapter 15 - How to Outwit the Six Ghosts of Fear
  • Six fears - poverty, criticism, ill health, loss of love of someone, old age and death
  • Must do away with all indecision, fear and doubt and determine which of the six fears (if not all) plague you
  • We have absolute control over only one thing - our thoughts
  • State of mind can't be purchased, it must be created
  • Life is energy and cannot be destroyed. Death is simply transition
  • Worry is based on fear. It is insidious and subtle
  • An unsettled mind is helpless
  • Nothing which life has to offer is worth the price of worry
  • Most common human weakness is leaving your mind open to the negative influences of others
  • Have the courage to see yourself as you truly are and correct it
  • Most of the ugliness you see in other's is a reflection of your own nature

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