These book recap series posts are simply my way of jotting down important takeaways from the book.
The books I have decided to focus on are topics that are of interest to me including personal finance, wealth building, business management, leadership, investing, and real estate. If you have business book recommendations, reach out to me on Twitter or Instagram @omgmymoney or contact me.
You can see the list of the book recap series at the bottom of this post. Check the business book recommendations section for a list of all the books.
Chapter One: Introduction
The Man Who “Thought” His Way into Partnership with Thomas A. Edison
- When a man really desires a thing so deeply that he is willing to stake his entire future on a single turn of a wheel in order to get it, he is sure to win. [OMG My Money commentary] I have never put myself in a position to take a big enough risk to stake my entire future. This is where my preference to be a bit more risk averse comes into play.
Three Feet from Gold
- One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat.
- Before success comes in any man’s life, he is sure to meet with much temporary defeat and perhaps some failure. When defeat overtakes a man, the easiest and most logical thing to do is to quit. [OMG My Money commentary] I did not want to rehash the “3 feet from gold” story here, so if you are not familiar with what this story is about, I recommend googling.
A Fifty-Cent Lesson in Persistence
- No does not necessarily mean no. [OMG My Money commentary] As I have invested in real estate, I learned that there is a need for persistence that a buyer needs to have; otherwise, I would never be able to purchase an investment property. There is a fine line between persistence and annoyance, but you have to be persistent enough and go through that experience to understand at what point does it get annoying.
- One of the main weaknesses of mankind is the average man’s familiarity with the word impossible. He knows all the rules that will not work. He knows all the things that cannot be done.
- Another weakness is the habit of measuring everything and everyone by their own impressions and beliefs.
You Are “The Master of Your Fate, the Captain of Your Soul”, Because…
- We have the power to control our thoughts. [OMG My Money commentary] such a simple statement, but yet so accurate. I think I feel this most when I am on the tennis court playing doubles. In doubles my partner and I rely on each other so there is this sense of responsibility on the court. I used to always apologize for mistakes or downplay good plays I have made or tell myself, for example, that the volley should have been hit at a better angle even though it won the point, and on and on. Over the past couple months, I have shifted the way I think and speak on the court to one of self encouragement and my confidence and mental toughness have improved greatly.
- Before we can accumulate riches in great abundance, we must magnetize our minds with intense desire for riches, that we must become money conscious until the desire for money drives us to create definite plans to acquiring it.
Chapter Two: Desire
The Starting Point of All Achievement: The First Step Toward Riches
- Every human being who reaches the age of understanding of the purpose of money wishes for desire. Wishing will not bring riches, but desiring riches with the state of mind becomes an obsession then planning definite ways of means to acquire the riches. [OMG My Money commentary] as an avid listener and reader of personal finance stories, I often hear about how some people get so hyper focused on accumulating wealth that they sacrifice living in the moment. I get that this is an extreme case, but I personally have found the right balance between personal wants and needs (and guilty pleasures) while still saving and investing for my future. For example, I like to take vacations with the parents so I will never skimp on the hotel or meals.
- The method by which desire for riches can be transmuted into its financial equivalent consists of six definite, practical steps.
- Fix in your mind the exact amount of money you desire. Be definite as to the amount. [OMG My Money commentary] this does not have to be literal, but I write down my goal or at least my projected and desired net worth in my net worth statement. This is not only motivating for me, but gives me a reason for saving and investing.
- Determine exactly what you intend to give in return for the money you desire. There is no such reality as something for nothing.
- 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 of the amount of money you intend to acquire. Name the time limit for its acquisition. State what you intend to give in return for the money and describe clearly the plan through which you intend to accumulate it.
- Read your written statement aloud. Twice daily. Once just before retiring at night and once after arising in the morning. [OMG My Money commentary] a bit too much for me (I do not even make my bed), but there are plenty of other books that recommend this.
- If you truly desire money so keenly that your desire is an obsession, you will have no difficulty in convincing yourself that you will acquire it. [OMG My Money commentary] fine line between obsession and dedication. Obsession can lead to you sacrificing so much in the near term (health, family, relationships, opportunities, living in the moment).
- Only those who become money conscious ever accumulate great riches. Money consciousness means that the mind has become so thoroughly saturated with the desire for money that one can see oneself already in possession of it. [OMG My Money commentary] once I shifted my mindset from being in nearly 6 figure student loan debt that I defaulted to focusing on budgeting, saving, and investing, my net worth skyrocketed. I learned from personal experience that your mindset is the most difficult thing to change. A mindset shift is not immediate, it is gradual.
- Every great leader was a dreamer.
- If you do not see great riches in your imagination, you will never see them in your bank balance.
- Those who are afraid of new ideas are doomed before they start.
- In planning to acquire your share of the riches, let no one influence you to scorn the dreamer. [OMG My Money commentary] surround yourself with those who can relate to your goals and dreams. I have heard many times that your close friends and family could be the biggest deterrents from you achieving that goal or dream.
- Success requires no apologies; failure permits no alibis.
- If the thing you wish to do is right and you believe it, go ahead and do it. Put your dream across and never mind what they say if you meet with temporary defeat for they perhaps do not know that every failure brings with it the seed of an equivalent success.
- The state of mind must be belief not mere hope or wish. Open mindedness is essential for belief. Closed minds do not inspire faith, courage, and belief.
Desire Outwits Mother Nature
- Nothing is impossible to the person who backs desire with enduring faith.
- There is nothing, right or wrong, which belief plus burning desire can not make real.
- All achievement no matter what may be its nature or purpose must begin with an intense, burning desire for something definite.
Chapter Three: Faith. Visualization of and belief in attainment of desire. The second step towards riches
- Faith is the head chemist of the mind. When faith is blended with the vibration of thought, the sub conscious mind instantly picks up the vibration, translates it to its spiritual equivalent, and transmits it to infinite intelligence. [OMG My Money commentary] as a person who is not religious, I relate this line to simply as self belief.
- Repetition of affirmation of orders to your sub conscious mind is the only known method of voluntarily development of the emotion of faith.
- A mind dominated by positive emotions becomes a favorable abode for the state of mind known as faith. [OMG My Money commentary] positivity, optimism, whatever you want to call it is so important to continue to push forward as you inevitably face roadblocks and obstacles.
Faith Is a State of Mind Which May Be Induced by Auto-Suggestion
- Faith is the starting point of all accumulation of riches. Faith is the basis of all miracles and all mysteries that cannot be analyzed by the rules of science. Faith is the only known antidote for failure.
- If a man repeats a lie over and over, he will eventually accept the lie as truth. Moreover, he will believe it to be the truth. [OMG My Money commentary] raise your hand if you have experienced this.
- You will discover that your greatest weakness is lack of self confidence. [OMG My Money commentary] what I have experienced is a blend of having the lack of self confidence and imposter syndrome. Maybe one leads to the other. On the tennis court, lack of self confidence such as when I had the case of the “yips”, all of a sudden forgetting how to hit a forehand, my best and most confident tennis stroke, can lead to disastrous results and if you are playing doubles, even more so because the doubles partner starts to lose confidence as well.
- I know that I have the ability to achieve the object of my definite purpose in life. Therefore I demand of myself persistent continuous action towards its attainment. [OMG My Money commentary] when it is hard to see the finish line towards that goal you are trying to achieve, taking baby step actions everyday will do wonders for progressing towards that goal.
- I realize that the dominating thoughts of my mind will eventually reproduce themselves an outward, physical action and gradually transform themselves into physical reality. Therefore I will concentrate my thoughts upon the task of thinking of the person I intend to become. [OMG My Money commentary] excuses and negative thoughts will never help you achieve that goal you are pursuing. When facing the inevitable obstacles, always focus on how to go through that obstacle and the solution. It is like when many of us say that we cannot afford something. Rather than that negative emotion, figure out how to make extra money so you can afford that thing.
- I know through the principle of auto suggestion any desire that I persistently hold in my mind will eventually seek expression; therefore, I will devote the demanding of my self the development of self confidence.
- I have clearly written down a description of my definite chief aim in life and I will never stop trying until I shall have developed sufficient self confidence for its attainment. [OMG My Money commentary] I believe in writing down your goals and better yet putting a timeline with those goals. It is amazing how much I have achieved through what I believe is because I wrote my goals and put it on the wall that I face every day. Even more amazing is how much more quickly I achieved those goals than what I had written.
- I fully realize that no wealth or position can long endure unless built upon truth and justice; therefore, I will engage in no transaction which does not benefit.
- If you think you are beaten, you are. If you think you dare not, you don’t. If you like to win but you think you can’t, it is almost certain you won’t. If you think you’ll lose, you’re lost. Success begins with a fellow’s will, it’s all in the state of mind.
- Riches begin in the form of thought, the amount is limited only by the person whose mind the thought is put into motion. [OMG My Money commentary] this line can be summarized into a couple words. Take action.
- Faith removes limitations.
Chapter Four: Auto-Suggestion
The Medium for Influencing the Subconscious Mind: The Third Step Toward Riches
- Auto suggestion is self suggestion.
- Through the dominating thoughts which one permits to remain in the conscious mind, the principle of auto suggestion voluntarily reaches the sub conscious mind and influences it with these thoughts.
- When reading aloud the statement of your desire through which you are endeavoring to develop a money consciousness that the mere reading of the words is of no consequence unless you mix emotion or feeling with your words.
- When visualizing the money you intend to accumulate with closed eyes, see yourself rendering the service or delivering a merchandise you intend to give in return for this money.
Summary of Instructions
- Repeat aloud the written statement of the amount of money you intend to accumulate, the time limit for its accumulation, and a description of the service or merchandise you intend to give in return for the money. As you carry out these instructions, see yourself already in possession of the money.
- Repeat this program night and morning until you can see in your imagination the money you intend to accumulate. [OMG My Money commentary] if this was meant to be literal, I think it is a bit excessive, but if it helps to get your mindset in the correct state, by all means incorporate this routine.
- Place a written copy of your statement where you can see it night and morning and read it just before retiring and upon arising until it has been memorized.
- Skepticism in connection with all new ideas is characteristic of all human beings, but if you follow the instructions outlined, your skepticism will soon be replaced by belief and this in turn will soon become crystallized into absolute faith.
Chapter Five: Specialized Knowledge. Personal experiences or observations. The forth step towards riches
- There are two kinds of knowledge, one is general, the other is specialized. General knowledge is of but little use in the accumulation of money. Knowledge will not attract money unless it is organized and intelligently directed through practical plans of action to the definite end of accumulation of money.
- Knowledge is only potential power. It becomes power only when and if it is organized into definite plans of action and directed to a definite end. [OMG My Money commentary] love this. I will raise my hand on this one. Before I got into real estate investing, I consumed dozens of podcasts, thousands of podcast episodes, blogs, books, and forums. This led to analysis paralysis and taking several years before getting my first property. Not only that but all the information I consumed led to burnout and I took a break for a couple years. Just take action. Even if it means spending hours and hours upfront without any revenue or possibly losing on a deal such as in real estate, consider this the cost of tuition to learn and gain experience. If you are a so called perfectionist waiting for the perfect time or waiting to get all the information, then stop. I went through this and wasted years.
- Specialized knowledge is among the most plentiful and cheapest forms of service which may be had.
It Pays to Know How to Purchase Knowledge
- 1st of all decide the sort of specialized knowledge you require and the purpose for which it is needed. The goal toward which you are working will help determine what knowledge you need. Your next move requires that you have accurate information concerning dependable sources of knowledge.
- Successful men in all callings never stop acquiring specialized knowledge related to their major purpose, business, or profession. [OMG My Money commentary] learning should never stop no matter how experienced you think you are. With all the different ways to consume information, there really is no excuse even if you are married with 3 jobs and have 10 kids.
- Those who are not successful usually make the mistake of believing that the knowledge acquiring period ends when one finishes school. [OMG My Money commentary] truly believe this. Always be learning. Learning should never stop.
- The order of the day is specialization.
- Any person who has the ambition to give up a part of his spare time to studying at home has in him those qualities which make for leadership.
- There is one weakness in people for which there is no remedy. It is the universal weakness of lack of ambition. Persons especially salaried people who schedule their spare time to provide for home study seldom remain at the bottom very long.
- The person who stops studying merely because he has finished school is forever hopelessly doomed to mediocrity. [OMG My Money commentary] does not necessarily mean mediocrity is a bad thing. Rather your potential is limited, which is fine, because being mediocrity can still get you to live an acceptable, comfortable lifestyle.
- The way of success is the way of continuous pursuit of knowledge.
- This idea of starting at the bottom and working one’s way up may appear to be sound, but the major objection to it is this, too many of those who begin at the bottom never manage to lift their heads high enough to be seen by opportunity so they remain at the bottom. The outlook from the bottom is not so very bright or encouraging, it has a tendency to kill off ambition. We call it getting into a rut.
Chapter Six: Imagination. The workshop of the mind. The fifth step toward riches
- Two forms of imagination: One is known as synthetic imagination and the other as creative imagination. Synthetic imagination may arrange old concepts, ideas, or plans into new combinations. This creates nothing. It merely works with the material of experience, education, and observation. It is most used by the inventor. Creative imagination has direct communication with infinite intelligence through hunches and inspirations.
The Enchanted Kettle
- Remember in the future every time you see the words, Coca Cola, that its vast empire of wealth and influence grew out of a single idea and that the mysterious ingredient was imagination.
What I Would Do If I Had a Million Dollars?
- The definiteness of purpose is the starting point from which one must begin.
- If you are one of those who believe that hard work and and honesty alone will bring riches, parish the thought. It is not true.
- Riches, when they come in huge quantities, are never the result of hard work. Riches come in response to definite demands based upon the application of definite principles and not by chance or luck. [OMG My Money commentary] made me read this one 5 times. Not sure I truly yet understand this given the hard work one must do especially upfront in order to see the results.
- First you give life an action and guidance to ideas, then they take on power of their own and sweep aside all opposition.
- Success requires no explanations, failure permits no alibis. [OMG My Money commentary] post this on the wall.
Chapter Seven: Organized Planning. The crystallization of desire into action. The sixth step toward riches
- Ally yourself with a group of as many people as you may need for the creation and carrying out of your plan for the accumulation of money making use of the mastermind principle.
- Before forming your mastermind alliance, decide what advantages and benefits you may offer the individual members of your group in return for their cooperation.
- Arrange to meet with the members of your mastermind group at least twice a week until you have jointly perfected the necessary plan for the accumulation of money.
- Maintain perfect harmony between yourself and every member of your mastermind group.
- No man is ever whipped until he quits in his own mind.
- When defeat comes, accept it as a signal that your plans are not sound. Rebuild those plans. If you give up before your goal has been reached, you are a quitter. A quitter never wins and a winner never quits.
- There are two types of people in the world, one type is known as leaders and the other as followers. It is no disgrace to be a follower; on the other hand, it is no credit to remain a follower. [OMG My Money commentary] there are many instances in which being a leader has its advantages or being a follower. Just starting out in real estate for example, you are never wanting to be a leader. There is always someone who has been there, done that so you follow that formula to reduce mistakes.
- Major attributes of leadership
- Unwavering courage based upon knowledge of self and of one’s occupation. No follower wishes to be dominated by a leader who lacks self confidence and courage.
- Self control. The man who cannot control himself can never control others.
- A keen sense of justice. Without a sense of fairness and justice, no leader can command and retain the respect of his followers.
- Definiteness of decision. The man who wavers in his decisions show that he is not sure of himself. He cannot lead others successfully. [OMG My Money commentary] one of the major things I learned as I moved into an marketing executive leadership role. Early in my career, I tended to go through a group think mentality as in getting a group’s opinion before making a decision. As I moved up, I learned that this group think mentality was not only increasing lead times to execute plans, but as a leader, I was becoming more indecisive.
- Definiteness of plans. The successful leader must plan his work and work his plan.
- The habit of doing more than paid for. One of the penalties of leadership is the necessity of willingness upon the part of the leader to do more than he requires of his followers.
- A pleasing personality. Leadership calls for respect. Followers will not respect a leader who does not grade high on all of the factors of a pleasing personality.
- Sympathy and understanding. The successful leader must be in sympathy with his followers; moreover, he must understand them and their problems. [OMG My Money commentary] many articles about one of the most important leadership traits is to have empathy.
- Mastery of detail. Successful leadership calls for mastery of detail of the leader’s position.
- Willingness to assume full responsibility. The successful leader must be willing to assume responsibility for the mistakes and shortcomings of his followers. If he tries to shift his responsibility, he will not remain a leader. If one of his followers makes a mistake and shows himself incompetent, the leader must consider that it is he who failed.
- Cooperation. The successful leader must understand and apply the principle of cooperative effort and be able to induce his followers do the same. Leadership calls for power and power calls for cooperation.
- There are two forms of leadership. The first and by far the most effective is leadership by consent of and with the sympathy of the followers. The second is leadership by force without the consent and sympathy of the followers. Leadership by force cannot endure.
- The ten major causes of failure in leadership.
- Inability to organize details. Efficient leadership calls for ability to organize and master details. When a man whether he is a leader or follower admits that he is too busy to change his plans or to give attention to an emergency, he admits his inefficiency.
- Unwillingness to render humble service. Truly great leaders are willing to perform any sort of labor in which they would ask another to perform. [OMG My Money commentary] I have experienced managers and managers reporting to me who were unwilling to roll up their sleeves. They would only focus on the “strategy”, which is basically a fluff word for doing nothing and having your works do all the work.
- Expectation of pay for what they know instead of what they do with that which they know. The world does not pay men for that which they know. It pays them for what they do or induce others to do.
- Fear of competition from followers. The leader who fears that one of his followers may take his position is practically sure to realize that fear sooner or later. The able leader trains understudies to whom he may delegate at will any of the details of his position. Only in this way may a leader multiply himself and prepare himself to be at many places and give attention to many things at one time.
- Lack of imagination. Without imagination the leader is incapable of meeting emergencies and of creating plans by which to guide his followers sufficiently.
- Selfishness. The leader who claims all the honor for the work of his followers is sure to be met by resentment. The really great leader claims none of the honors. Most men will work harder for commendation and recognition than they will for money alone. [OMG My Money commentary] absolutely true. I personally have not experienced this, but I have heard from one of my direct reports about the previous leader taking credit for the team’s work. This naturally results in resentment and feeling demotivated.
- Intemperance. Followers do not respect an interparent leader.
- Disloyalty. The leader who is not loyal to his trust and to his associates, those above him and those below him, cannot maintain his leadership. Lack of loyalty is one of the major causes of failure in every walk of life. [OMG My Money commentary] I always tell my team that as long as there is communication and no surprises, then I will always have the team’s back. If things start to go down in flames, then I raise my hand as the leader and because I backed up the decision or idea.
- Emphasis of the authority of leadership. The efficient leader leads by encouraging and not by trying to instill fear. The leader who tries to impress is followers with his authority comes within the category of leadership through force.
- Emphasis of title. The competent leader requires no title to give him the respect of his followers. The doors to the office of the real leader are open to all who wish to enter.
Information to Be Supplied in a Written “Brief”
- 30 major reasons for failure
- Unfavorable hereditary background. There is but little if anything which can be done for people who are born with a deficiency in brainpower. This philosophy offers but one method of bridging this weakness through the aid of the mastermind. This is the only one of the 30 causes of failure which may not be easily corrected by any individual.
- Lack of a well defined purpose in life. There is no hope of success for the person who does not have a central purpose or definite goal at which to aim.
- Lack of ambition to aim above mediocrity. We offer no hope for the person who is so indifferent as to not what to get ahead in life and who is not willing to pay the price.
- Insufficient education. Best educated people are often those who are known as self made or self educated.
- Lack of self discipline. Discipline comes through self control. Before you can control conditions, you must first control yourself. If you do not conquer self, you will be conquered by self.
- Ill health. No person may enjoy outstanding success without good health.
- Unfavorable environmental influences during childhood.
- Procrastination. This is one of the most common causes of failure. Most of us go through life as failures because we are waiting for the time to be right. Do not wait. The time will never be just right.
- Lack of persistence. Most of us are good starters but poor finishers of everything we begin. There is no substitute for persistence.
- Negative personality. There is no hope of success for the person who repels people through a negative personality.
- Lack of controlled sexual urge. Sex energy is the most powerful of all the stimuli, which moves people into action. Because it is the most powerful of all the emotions, it must be controlled.
- Uncontrolled desire for something for nothing. The gambling instinct drives millions of people to failure.
- Lack of a well defined power of decision. Men who succeed reach decisions promptly and change them if at all very slowly. Indecision and procrastination are twin brothers.
- One or more of the six basic fears. They must be mastered before you can market your services effectively.
- Wrong selection of a mate in marriage. This is a most common cause of failure. It will be a form of failure that is marked by misery and unhappiness destroying all signs of ambition.
- Over caution. The person who takes no chances generally has to take whatever is left when others are through choosing.
- Wrong selection of associates in business. This is one of the most common causes of failure in business. We emulate those who we associate most closely.
- Superstition and prejudice. Superstition is a form of fear. It is also a sign of ignorance. Men who succeed keep open minds.
- Wrong selection of a vocation. No man can succeed in a line of endeavor which he does not like.
- Lack of concentration of effort. The jack of all trades seldom is good in any.
- The habit of indiscriminate spending. The spend thrift cannot succeed mainly because he stands eternally in fear of poverty. Without money one must take what one is offered.
- Lack of enthusiasm. Without enthusiasm one cannot be convincing.
- Intolerance. The person with a closed mind on any subject seldom gets ahead. Intolerance means that one has stopped acquiring knowledge.
- Intemperance. The most damaging forms of intemperance are connected with eating, strong drink, and sexual activities.
- Inability to cooperate with others. More people lose their positions and their big opportunities in life because of this fault than all other reasons combined.
- Possession of power that was not acquired through self effort. Quick riches are more dangerous than poverty.
- Intentional dishonesty. There is no substitute for honesty. There is no hope for the person who is dishonest by choice. Sooner or later his deeds will catch up with him and he will pay by laws of reputation.
- Egotism and vanity. These qualities serve as red lights which warn others to keep away.
- Guessing instead of thinking. Most people are too indifferent or lazy to acquire facts with which to think accurately.
- Lack of capital.
- Before you even start to negotiate for a readjustment of your salary in your present position or to seek employment elsewhere, be sure that you are worth more than you now receive.
Chapter Eight: Decision. The mastery of procrastination. The seventh step toward riches
- Procrastination, the opposite of decision, is a common enemy which practically every man must conquer.
- The majority of people who fail to accumulate money sufficient for their needs are generally easily influenced by the opinions of others. [OMG My Money commentary] in the investing world, it is the news that can easily influence people. In the sports cards world, it is the “influencers” who make suggestions that can easily influence gullible collectors.
- Opinions are the cheapest commodities on earth. If you are influenced by opinions when you reach a decision, you will not succeed in any undertaking.
- Take no one into your confidence except the members of your mastermind group. Close friends and relatives often handicap one through opinions and sometimes through ridicule.
- Let one of your first decisions be to keep a closed mouth and opened ears and eyes. Tell the world what you intend to do, but first show it.
Chapter Nine: Persistence. The sustained effort necessary to induce faith. The eighth step toward riches
- The basis of persistence is the power of will.
- Lack of persistence is a weakness common to the majority of men. It is a weakness which may be overcome by effort.
- The starting point of all achievement is desire. Weak desires bring weak results.
- Persistence is based upon definite causes.
- Definiteness of purpose. A strong motive forces one to surmount many difficulties.
- Self reliance. Belief in one’s ability to carry out a plan encourages one to follow the plan through with persistence.
- Definiteness of plans. Organized plans encourage persistence.
- Accurate knowledge. Knowing that one’s plans are sound encourages persistence. Guessing instead of knowing destroys persistence.
- Cooperation. Sympathy, understanding, and harmonious cooperation with others tend to develop persistence.
- Willpower. The habit of concentrating one’s thoughts upon the building of plans for the attainment of a definite purpose leads to persistence.
- Habit. Persistence is the direct result of habit. Fear, the worst of all enemies, can be effectively cured by forced repetition of courage.
Chapter Ten: Power of the Master Mind
The Driving Force: the Ninth Step Towards Riches
- Power is essential for success in the accumulation of money.
- Sources of knowledge: infinite intelligence, accumulated experience, experiment and research.
- Gaining power through the mastermind. A group of brains coordinated or connected in a spirit of harmony will provide more thought energy than a single brain.
- Men take on the nature and the habits and the power of thought of those with whom they associate in the spirit of sympathy and harmony.
- Poverty and riches often change places. Poverty may and generally does voluntarily take the place of riches. When riches take the place of poverty, the change is usually brought about through well conceived and carefully executed plans. Poverty needs no plan because it is bold and ruthless. Riches are timid and have to be attracted.
Chapter Eleven: The Mystery of Sex Transmutation: The Tenth Step Toward Riches
- The men of greatest achievement are men with highly developed sex natures. The men who have accumulated great fortunes and achieved outstanding recognition were motivated by the influence of a woman.
- The emotion of sex is the most intense and powerful of all mind stimuli.
- Genius is developed through the sixth sense. This sixth sense is creative imagination.
- When ideas or concepts flash into one’s mind through what is popularly called a hunch.
- Not all knowledge is accurate. Ideas received through the creative faculty are much more reliable.
Why Men Seldom Succeed Before Forty
- Major reason why the majority of men who succeed do not begin to do so before the age of 40-50 is their tendency to dissipate their energies through the over indulgence and physical expression of the emotion of sex.
- This energy may be communicated to others as follows:
- Tone of voice
- Posture and carriage of the body – highly sexed people move briskly and with grace and ease
- Vibrations of thought
- Body adornment – people who are highly sexed are usually very careful about their personal appearance
- Seldom does an individual enter upon highly creative effort in any field of endeavor before the age of 40. The average man reaches the period of his greatest capacity to create between 40 and 60.
- The years between 40 and 50 are as a rule the most fruitful. Man should approach this age not with fear and trembling but with hope and eager anticipation.
- The mind is creature of habit. It thrives upon the dominating thoughts fed it. Control comes from persistence and habit.
Chapter Twelve: The Subconscious Mind
The Connecting Link: The Eleventh Step Towards Riches
- You cannot entirely control your subconscious mind, but you can voluntarily hand over to it any plan, desire, or purpose.
- Thought impulses, both negative and positive, are reaching the subconscious mind continuously.
- Through the aid of the imagination, thought impulses may be assembled into plans. The imagination when under control may be used for the creation of plans or purposes that lead to success in one’s chosen occupation.
- 7 major, most powerful positive emotions: desire, faith, love, sex, enthusiasm, romance, hope
- 7 major negative emotions to be avoided: fear, jealously, hatred, revenge, greed, superstition, anger
Chapter Thirteen: The Brain. A broadcasting and receiving station for thought, the twelfth step towards riches
- The creative imagination is the receiving set of the brain.
Chapter Fourteen: The Sixth Sense
The Door to the Temple of Wisdom: The Thirteenth Step Towards Riches
- The sixth sense is that portion of the subconscious mind, which has been referred to as the creative imagination. It has also been referred to as hunches or inspirations.
- The sixth sense comes as near to being a miracle.
- One of the blessings of maturity is that it sometimes brings one greater courage to be truthful regardless of what those who do not understand, may think or say.
- Any emergency which arouses the emotions and causes the heart to be more rapidly than normal may and generally does bring the sixth sense into action.
Chapter Fifteen: How to Outwit the Six Ghosts of Fear
- Before you can put any portion of this philosophy into successful use, your mind must be prepared to receive it. It begins with study, analysis, and understanding of three enemies. These are indecision, doubt, and fear. The sixth sense will never function while these three negatives or any of them remain in your mind. Where one is found, the other two are close at hand.
- Indecision crystallizes into doubt. The two blend and become fear. The blending process often is slow. [OMG My Money commentary] read this one a few times. Indecision led me to analysis paralysis and being too conservative, which led to taking no action and losing out on opportunities.
- Six basic fears in order of their most common appearance: poverty, criticism, ill health, fear of loss of love of someone, old age, death
All other fears are of minor importance, they can be grouped under these six headings
- Fears are nothing more than states of mind. One’s state of mind is subject to control and direction.
The Fear of Poverty
- There can be no compromise between poverty and riches. The word riches is here used in its broadest sense meaning financial, spiritual, mental, and material.
- The fear of poverty is a state of mind, but it is sufficient to destroy one’s chances for achievement in any undertaking. This fear paralyzes the faculty of reason, destroys the faculty of imagination, kills off self reliance, undermines enthusiasm, discourage initiative, leads to uncertainty of purpose, encourages procrastination, wipes out enthusiasm, and makes self control an impossibility. It takes the charm from one’s personality, destroys the possibility of accurate thinking, diverts concentration of effort, it masters persistence, turns the willpower into nothingness, destroys ambition, invites failure in every conceivable form. It kills love and assassinates the finer emotions of the heart, discourages friendship, and invites disaster in a hundred forms, leads to sleeplessness, misery, and unhappiness.
Symptoms of the Fear of Poverty
- Indifference commonly expressed through lack of ambition, willingness to tolerate poverty, acceptance of whatever compensation life may offer without protest, mental and physical laziness, lack of initiative, imagination, enthusiasm, and self control.
- Indecision, the habit of permitting others to do one’s thinking, staying on the fence.
- Doubt, generally expressed through alibis and excuses designed to cover up, explain away, or apologize for one’s failures.
- Worry, usually expressed by finding fault with others, a tendency to spend beyond one’s income, neglect of personal appearance, scowling and frowning, nervousness, lack of poise, self consciousness, and lack of self reliance.
- Over caution, the habit of looking for the negative side of every circumstance, thinking and talking of possible failure instead of concentrating upon the means of succeeding, waiting for the right time to begin putting ideas and plans into action until the waiting becomes a permanent habit, remembering those who have failed and forgetting those who have succeeded, pessimism. [OMG My Money commentary] there is a balance you need to find between being overcautious or conservative and good enough. Based on personal experiences in different ventures and real estate, I have gone more on the “good enough” side especially if I catch myself overanalyzing and noticing a decision that should take 3 days takes 3 weeks.
- Procrastination, the habit of putting off until tomorrow that which should have been done last year, spending enough time in creating alibis and excuses to have done the job, refusal to accept responsibility when it can be avoided, willingness to compromise rather than put up a stiff fight, compromising with difficulty instead of harnessing and using them as stepping stones to advancement, planning what to do if and when overtaken by failure instead of burning all bridges and making retreat impossible.
The Fear of Criticism
- The fear of criticism robs man of his initiative, destroys his power of imagination, limits his individuality, takes away his self reliance.
- Criticism is the one form of service of which everyone has too much.
- Criticism will plant fear in the human heart or resentment, but will not build love or affection.
Symptoms of the Fear of Criticism
- Self consciousness generally expressed through nervousness, timidity in conversation in meeting strangers, awkward moving of the hands and limbs, shifting of the eyes.
- Lack of poise expressed through lack of voice control, nervousness in the presence of others, poor posture of body, poor memory, lacking in firmness of decision, personal charm, and ability to express opinions definitely, the habit of sidestepping issues, agreeing with others without examination of their opinions.
- Inferiority complex, the habit of expressing self approval by word of mouth and by actions as a means of covering up a feeling of inferiority, using big words to impress others often without knowing the real meaning of the words, imitating others in dress, speech, and manners, boasting of imaginary achievements.
Extravagance: The habit of trying to “keep up with the Joneses”, spending beyond one’s income
- Lack of initiative, failure to embrace opportunities for self advancement, fear to express opinions, lack of confidence in one’s own ideas, giving evasive answers to questions asked by superiors, hesitancy in manner of speech, deceit in both words and deeds, lack of ambition, mental and physical laziness, slowness in reaching decisions, easily influenced by others, the habit of criticizing others behind their backs and flattering them to their faces, the habit of accepting defeat without protest, quitting an undertaking when opposed by others, suspicious of others without cause, unwillingness to accept the blame for mistakes.
The Fear of Ill Health
- Man fears ill health because of the terrible pictures which have been planted in his mind of what may happen if death should overtake him. He also fears it because of the economic toll which it may claim.
- It has been shown that the fear of disease even where there is not the slightest cause for fear often produces the physical symptoms of the disease feared.
Powerful and might is the human mind! It build or it destroys
- There is overwhelming evidence that disease sometimes begins in the form of negative thought impulse.
Symptoms of the Fear of Ill Health
- Auto suggestion, the habit of negative use of self suggestion by looking for and expecting to find the symptoms of all kinds of disease, enjoying imaginary illness and speaking of it as being real, the habit of trying all fads recommended by others as having therapeutic value, talking to others about operations, accidents, and other forms of illness, experimenting with diets, physical exercises without professional guidance, trying home remedies, patent medicines, hypochondria, the habit of talking of illness, concentrating the mind of disease.
- Hypochondria, a medical term for imaginary disease, is said to do as much damage on occasion as the disease one fears might do.
- Exercise. Fear of ill health often interferes with proper physical exercise and results in overweight by causing one to avoid outdoor life.
- Susceptibility. Fear of ill health breaks down nature’s body resistance and creates a favorable condition for any form of disease one may contact.
- Self coddling. The habit of making a bid for sympathy using imaginary illness as the lure.
- Intemperance. The habit of using alcohol or narcotics to destroy pain .
- The fear of loss of love.
Symptoms of the fear of Loss of Love
- Jealousy, the habit of being suspicious of friends and loved ones without any reasonable evidence, general suspicion of everyone, absolute faith in no one.
- Fault finding, the habit of finding fault with friends, relatives, business associates and loved ones upon the slightest provocation or without cause whatsoever.
- Gambling, the habit of gambling, stealing, cheating, and otherwise taking hazardous chances to provide money for loved ones with the belief that love can be bought.
- The habit of spending beyond one’s means or incurring debts to provide gifts for loved ones with the object of making favorable showing.
- Insomnia, nervousness, lack of persistence, weakness of will, lack of self control, lack of self reliance, bad temper.
The Fear of Old Age
- The possibility of ill health is also a contributing cause of this fear of old age.
- The most common cause of fear of old age is associated with the possibility of poverty.
- Another contributing cause of fear of old age is the possibility of loss of freedom and independence as old age may bring with it the loss of both physical and economic freedom.
Symptoms of the Fear of Old Age
- The tendency to slow down and develop an inferiority complex at the age of mental maturity around the age of forty falsely believing oneself to be slipping because of age.
- The truth is that man’s most useful years mentally and spiritually are those between 40 and 60.
- The habit of speaking apologetically of oneself as being old merely because one has reached the age of forty or fifty instead of reversing the rule and expressing gratitude for having reached the age of wisdom and understanding.
- The habit of killing off initiative, imagination, and self reliance by falsely believing oneself too old to exercise these qualities.
- The habit of the man or woman of forty dressing with the aim of trying to appear much younger and affecting mannerisms of youth.
The Fear of Death
- To some this is the cruelest of all the basic fears. The fear of death may be charged directly to religious fanaticism.
Insane asylums are filled with men and women who have gone mad, because of the fear of death
- This fear is useless. Death will come no matter what anyone might think about it. Accept it as a necessity and pass the thought out of your mind.
Symptoms of the Fear of Death
- The habit of thinking about dying instead of making the most of life due generally to lack of purpose.
- The greatest of all remedies for the fear of death is a burning desire for achievement backed by useful service to others.
- A busy person seldom has time to think about dying. He finds life to thrilling to think about death.
- The commonest causes of the fear of death: ill health, poverty, lack of appropriate occupation, disappointment over love, insanity, religious fanaticism.
Old Man Worry
- Worry is a state of mind based upon fear. It works slowly but persistently.
- Worry is a form of sustained fear caused by indecision; therefore, it is a state of mind which can be controlled.
- We do not worry over conditions once we have reached a decision to follow a definite line of action.
- Relieve yourself forever of the fear of death by reaching a decision to accept death as an inescapable event.
- Whip the fear of poverty by reaching decision to get along with whatever wealth you can accumulate without worry.
- Put your foot upon the neck of the fear of criticism by reaching a decision not to worry about what other people think, do, or say.
- Eliminate the fear of old age by reaching a decision to accept it not as a handicap but as a great blessing, which carries with it wisdom, self control and understanding not known to youth.
- Acquit yourself of the fear of ill health by the decision to forget symptoms.
- Master the fear of loss of love by reaching a decision to get along without love if that is necessary.
- Kill the habit of worry in all its forms by reaching a general blanket decision that nothing which life has to offer is worth the price of worry. With this decision will come poise, peace of mind, and calmness of thought, which will bring happiness.
- A man whose mind is filled with fear not only destroys his own chances of intelligent action but he transmits these destructive vibrations to the minds of all who come into contact with him and destroys also their chances.
- To be successful, you must find peace of mind.
The Devil’s Workshop: The Seventh Basic Evil
- Susceptibility to negative influences: it strikes when you are no aware of its presence. It consists of merely a state of mind.
How to Protect Yourself Against Negative Influences
- To protect yourself against negative influences, recognize that you have a willpower and put it into constant use until it builds a wall of immunity against negative influences in your own mind.
- Deliberately seek the company of people who influence you to think and act for yourself.
Self-Analysis Test Questions
- You have absolute control over but one thing and that is your thoughts. If you fail to control your own mind, you may be sure you will control nothing else.
- Mind control is the result of self discipline and habit. You either control your mind or it controls you.
- The most practical of all methods for controlling the mind is the habit of keeping it busy with a definite purpose backed by a definite plan.
You can check out the entire business book recap series below:
- The Richest Man in Babylon book recap – George S. Clason
- How to Win Friends and Influence People book recap – Dale Carnegie
- Think and Grow Rich book recap – Napoleon Hill
- The Tipping Point book recap – Malcolm Gladwell