02.16.14 Book Review: Think and Grow Rich

One of my 2014 goals is to read more real estate related books, and I thought I’d share some learnings as I go along.

First book of the new year is Think and Grow Rich by Napoleon Hill. It is described as a motivational personal development and self-help book, not specific to real estate, but it was recommended on a BP podcast.

It was written in 1937, which in some ways made it more interesting (written during the Great Depression, a similar time in history) and in some ways made it harder to get into, especially the first part. Toward the end the book got a little freaky, talking about how the sex drive brings powerful creativity, including imagination and innovation.

Interesting tidbits:

·Accumulation of money cannot be left to chance, good fortune, and luck.

·There are three enemies to avoid: indecision, doubt, and fear.

·Nothing is impossible with persistent desire backed by faith. Repeating statements if desire aloud daily will gradually influence thoughts and actions.

·Steps to build the habit of persistence: definite purpose, definite action plan, ignore discouraging influences. And alliances with encouragers.

·The person who stops studying because they were finished with school is doomed to mediocrity.

·Success isn’t all about education – experience, education, native ability, imagination, prompt decision making, and ability to apply knowledge are important contributors to success.

·Great leaders are well compensated for their ability to get others to perform, accomplishing more than they could alone, no matter how efficient, knowledgeable, or charismatic.

·Wisdom is found in modesty and silence.

·Through analysis of 25,000 people, concluded that few were successful before the age of 40, and more often over the age of fifty.

The book reinforced some views I already had, helped put a spotlight on how many can graduate from college and still not be employable, and expanded my views of the benefits of a fulfilling sex life.

How I relate the book to our real estate investing:

·Make decisions and stick by them. We will make mistakes, but moving forward with a plan is better than wallowing in what-ifs.

·I often wish we had started investing in real estate much younger in life. This was a good reminder that there are still plenty of years left to make a mark.

·Keep working to discern which tasks I should be performing and define what the eventual end goal really is to improve the business.

Not sure I’d recommend it, but glad I read it.