Think and grow rich by Napoleon Hill is a very insightful book on becoming wealthy.
In my last post I talked about desire as the starting point of your journey to becoming wealthy.
Let me recap….
I believe a strong desire determination faith and persistence is important for getting rich.
Once you have a desire to become wealthy you also need to take action on your dreams so you can live your dreams.
There are seven steps you need to take in order to transform your desire for wealth into living your dreams.
Lets talk about it in details in this essay.
Step 1: Decide on how much wealth you want to accumulate
This is important because its only when you decide on how wealthy you want to become that you’ll be able to make your dreams come true.
You see your mind cannot focus on vague things. It’s not enough to say, “I want to have lots of money”.
You must make up your mind on how much net worth you want to have.
Do you want to have a $5 million or $10 million net worth?
By deciding on your future net worth, you are honing your desire to a point that it becomes achievable.
Let me explain
Do you remember the simple science experiment you did at middle school?
I am talking about that science class where your teacher taught you how to burn a piece of paper with a magnifying glass by focusing the rays of the sun on it.
I want you to imagine your mind is like the magnifying glass in the experiment.
Lets assume your desire is like the ray of the sun. And the amount of wealth you intend to acquire is like a piece of paper.
When you focus the rays of the sun (desire) on a piece of paper (the exact amount of money you want) with a magnifying glass (mind) … you’ll soon find the paper burning up
That’s’ why you need to know exactly how much wealth you want accumulate
Step 2: Decide on what you intend to give in exchange to become wealthy
The next step is important because it’s what separates day dreamers from go getters.
You see, its not enough to want to become wealthy. You must also be ready to pay the price for becoming wealthy.
This means you must find ways to accumulate the wealth you desire.
It’s at this point you have to choose a path you’ll take to realize your dreams.
The good news is that there are many proven paths to wealth that others have used that you can also take to become rich.
You can build wealth through investing in real estate; investing in the stock market; starting a business or starting an Internet business
You cannot hope to “get something for nothing”. You must be willing to create and give value in return for the riches you desire.
Step 3: Establish a definite date you want to possess the amount of riches you want
The next step you need is to establish a definite date when you intend to accomplish your dreams of becoming wealthy.
Why? The answer is simple. Until you determine the exact date you want to accumulate the wealth you intend to enjoy, you are only wishing to become wealthy.
That is why setting goals are important. A goal is a dream with a deadline.
Having a timeline to your desire for financial freedom has benefits:
The first benefit is that it intensifies your desire to achieve your dreams.
Also having goals helps you focus on the important things you need to do in order to accomplish your goals.
Step 4: Create a definite plan on your desire and start taking action
It is important you have a definite plan for fulfilling your desire taking action on your plan.
You must take action on your plans even if you feel you are not ready. It is important you begin at to work on your plan
why? Because taking action on your plans will intensify your desire.
The secret to taking action on your plan is to do the following:
Ready, fire, aim
This means that for you to succeed, you need to plan then take action. Because it’s only in taking action on your plan, that you can move forwards to accomplishing your plan.
For example if you are going to start a business you should spend time on business planning.
But you must spend a larger part of your time selling your business’s services to your customers.
Action is the most important step you must take if you have a desire to become wealthy
Step 5: Write a clear concise statement of your intention
Studies have shown that there is a direct relation between writing an idea on paper and its accomplishment
Why? Because when you write down your dreams and goals, you are activating your brain’s mechanism for taking action-the reticular activating system
Brian Tracy author and expert in the field of self development says that if you can form the habit of writing down your goals daily, you are likely to accomplish them most of the time
When you write your goals you must write them down concisely and clearly.
Your plan must include writing the exact amount of money you want to acquire. How you intend to acquire it . And the exact date you want to start living your dreams.
It’s also important that you write out your intention with your name and in a present active tense.
By writing out your plan like this you’ll create a conscious awareness in your mind about the life you want.
Step 6 : Monitor your progress regularly
its important you read and write out your goals frequently because studies have shown that you are likely to achieve your goals if you read and write them regularly.
Brian Tracy an authority in self-development recommends writing your top 3 most important goals on a 3” by 5” card and keeping it in your wallet.
Why? Because the very act of reading and writing out your goals creates a neural pathway that makes the accomplishment of your desire a part of your consciousness that you’ll eventually achieve them
Step 7 : Take consistent action on your dreams
You need to take action every day on your dreams. You see taking action on your desire daily, will move you closer to the accomplishment of your dreams.
There is an energy that comes with taking action on your dreams. It’s like planting a field of corn.
The more you work on your dreams the easier it becomes to accomplish it than someone who talks about his dreams
The trick to working on your dreams is to break down your goals into smaller tasks.
As soon as you break your goals into smaller task, you should add them to your daily tasks.
Finally, you should prioritize your daily tasks so that you spend a large part of your day working on your dreams.
The bottom line is this all wealth is accumulated one dollar at a time.
And the starting point of accumulating wealth comes from having a desire to get rich.
In order to fulfill your desire to accumulate wealth you must have determination, faith and persistence.