Aakash Talks Finance

I try to read the sixth chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled “Imagination: The Workshop of the Mind”. It talks about the importance of having imagination, putting it to consistent use to achieve your desire.

The author describes two forms of imaginations. First, there is synthetic imagination, or imagination through observation. This does not create anything, it merely mimics what we already know. But this is the imagination that we use more than anything else. Second is creative imagination, which involves creating new things through rapid thinking. This form of imagination is scattered, but it leads to innovation.

Imagination is the medium to put our thoughts into action. Like every muscle, the mind can be strengthened. This happens through imagination towards our desire. But this is not a short-term process, it is lifelong. We have to put the natural power of imagination to consistent use through practice.

Hill uses two examples to convey this point. The first is the story of “The Enchanted Kettle” which describes the story of the Coca-Cola founder Asa Griggs Candler receiving the secret formula from the doctor, John Pemberton. Through thought and then imagination was Candler’s desire to establish a world known soft-drink realised.elong process.

The second story is of the preacher Frank Gunsaulus who realized his dream of building a college through his “Million Dollar Sermon.” Both examples underline the point of using imagination towards our desires. Ideas will outlast our bodies, imagination is a way to realize those ideas.

Link to the book:

https://amzn.to/3A0rj3r

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Aakash

#books

#investing #personalfinance

I try to read the fifth chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “Specialized Knowledge: Personal experience or observations.” It is perhaps the most relevant chapter to the world we live in today.

There are two types of knowledge. Knowledge that we acquire through observations, which are based in fact, either right or wrong. This is generalized knowledge. The other type of knowledge is one you receive through experiences. No one can teach you this, not a teacher, a book or a course. It is something you have to teach yourself. This is specialized knowledge.

We should look to build specialized knowledge. This process can be started through organization of knowledge into value. Then products or services can be built to channel this value to people who will pay to acquire them.

Learning is essential to build this knowledge. But to never stop learning we should have undying ambition. Learning does not end with college, it is a lifelong process. Those who stop learning once they get a salaried job will never be rich.

Build your knowledge, never stop learning, have undying ambition, do something no one else is doing or do it better than anyone else. These are the key takeaways from this chapter.

Hope this helps.

Link to the book:

https://amzn.to/3A0rj3r

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Aakash

#books

#investing #personalfinance

I try to read the fourth chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “Auto-suggestion: The medium of influencing the subconscious.” It’s a short chapter on how we can use desires to influence our mind.

Auto-suggestion is a way we can remind ourselves of our desires. Then we can navigate our actions to achieve this desire.

This chapter, in Hill’s words, is the most important chapter of the book. It relates to the six rules we learnt in the first chapter on Desire. Although there are no stores from the stalwarts Hill worked with, there’s plenty of actionable advice.

From setting a definitive goal, to priming our concentration, using positive imagery, acting fast, putting failure on ourselves and having a clear vision. There’s so much in this chapter that I’m going to keep coming back to it.

Read this in parallel with the six steps on Desire in the first chapter:

Hope this helps.

Link to the tweet for book:

https://amzn.to/3A0rj3r

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Aakash

#books

#investing #personalfinance

I try to read the third chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “Faith: Visualization of and Belief in attainment of Desire.” It talks about the importance of faith and how it can be implemented to achieve our desires.

Hill gives us practical steps to practice faith in ourselves. He presents a ‘Self Confidence Formula.” Stories from the lives of Abraham Lincoln, Mahatma Gandhi, Charles Schwab, J P Morgan and Andrew Carnegie emphasize the importance of faith for leaders.

Faith here is simply faith in ourselves. Not faith in a religion, mentor or anything external but ourselves. This is an important element in the path to wealth. A path only you can craft and choose whether it leads you to wealth or destruction.

Lastly, I would like to leave you with the poem from Walter Wintle mentioned in the chapter.

“If you think you are beaten, you are,

If you think you’ll lose, you’re lost

If you think you are outclassed, you are,

Life’s battles don’t always go

Hope this helps.

Link to the tweet for book:

https://amzn.to/3A0rj3r

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Aakash

I try to read the second chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “Desire: The Starting Point of all Achievement.” It talks about the power of desire and how it can overcome nature.

The chapter is divided into two parts. The first part retells the examples of Edwin Barnes, Hernan Cortes, Marshall Field, Henry Ford, Copernicus and other notable men of history who never let their desire die.

The second part is a personal story of the author. It is the story of how Hill’s own son managed to overcome his deaf and mute state and desire to hear and be heard. This story underlines how desire can even beat nature if we force it to.

Lastly, I would like to leave you with this quote that sums up this episode:

“Success requires no apologies

Hope this helps.

Link to the tweet for book:

https://amzn.to/3A0rj3r

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Aakash

I try to read the first chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “The Power Of Thought” and talks about the importance of keeping the flame of desire lit.

The author recounts experiences from the life of Edwin Barnes, an associate of Thomas Edison and RU Darby, a legendary life insurance salesman. Each story emphasizes the importance of desire when pursuing something of value.

We learn about why most people quit when pursuing a difficult task through Barnes. Darby’s teaches us how we’re closer to success than we think and why persistence is important. Most importantly we learn how to, “keep on keeping on” which is something only the University of Life, as Darby puts it, can teach us.

Hill also gives us a taste of the next chapter. One which was recommended by a sitting US Congressman in the 1940s.

I hope you’ll stick with me as I read this book and its lessons will help your life.

Thank you for listening.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the tweet for book:

https://amzn.to/3A0rj3r

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Aakash

I try to read the introduction and author’s preface of Think And Grow Rich by Napoleon Hill. This book was sourced from the same thread of books on finance and personal development under Rs 100.

We learn about the author and his mentors. Napoleon Hill was an author and student of Andrew Carnegie, an American industrialist. Carnegie instilled in Hill a ‘secret’ or a set of secrets to help him throughout his life. Hill used this secret to work with several other American luminaries between 1900 to 1950 including three Presidents, Albert Einstein, Alexander Bell, and Henry Ford. Many of these great names wrote praising words about Hill.

The author’s preface does lead into Hill’s inspiring works through his books. However, it does not get into specifics. It does foretell that education is unnecessary to understanding his work. But a great desire for knowledge and wealth is required. Thus it sets up the book very well.

I hope you’ll stick with me as I read this book and its lessons will help your life.

Thank you for listening.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the tweet for book:

https://amzn.to/3A0rj3r

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I try to summarize the book ‘The Richest Man in Babylon” by George S Clason. This episode goes through each chapter presenting what the stories the author wrote and its key takeaways.

From having the desire to be wealthy to actually realizing it, there’s a lot that goes on. First you must not think of wealth as evil, or one that only accrues to the few. Think of wealth this way and it will never come to you.

Next, you must start small. An important theme in the book is - a part of all you earn is yours to keep. How much exactly? Well, at least one-tenths. Therefore always limit your expenses to nine-tenths.

Remember the seven cures to a lean purse:

From Mathon we learn that we should always ask questions before investing our money. From Banzar we learn that that protection of investment is important. From Dabasir we learn how to climb out of the debt trap as Mr. Shrewsbury found out. From Sharru Nada we learn how to make work our best friend.

I hope this book and its lessons help you in building your financial future for the better, as it’ll help mine.

Thank you for listening.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

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I try to read the tenth and the final chapter of the “Richest Man in Babylon” by George S Clason. This chapter is about work, and why we should treat it like our best friend. No matter if we’re a rich merchant or a slave.

Sharru Nada, the merchant of Babylon, wanted to impress on the young Hadan Gula the importance of work. Hadan was the grandson of Sharru’s merchant partner Arad Gula. In order to teach the youth the importance of work he recounted a story of how he became a merchant from a slave.

He had two slave friends - Megiddo and Zabado. Megiddo always told him to work hard no matter the task. Zabado wanted to simply shriek and not work at all. This led them to their own fates.

Sharru Nada took the path of hard work, which saved him from tireless work, breaking his back, and set him on the road to a free man. In this journey he met Arad  Gula, who was a slave himself. Hard work helped both Arad and Sharru to become free men from slaves, and eventually rich merchants from free men.

The story helped convey the importance of hard work to the youth Hadan.

Regardless of what your work is, remember to - always make it your best friend. And if someone asks you “why are you working so hard” know that you’re on the right path. Keep at it.

Thank you for listening.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

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I try to read the ninth and penultimate chapter of the “Richest Man in Babylon” by George S Clason. This chapter involves two letters written in 1934 and 1936 and five clay tablets written 5,000 years earlier. But it recites a lesson that is timeless.

A British archaeologist named Mr. Shrewsbury finds Dabasir’s clay tablets. The tablets detail the plan the camel trader used to pay off his debts. He learnt this plan from Mathon, the gold lender. The plan was simple. Seven-tenths of earnings would be used to pay living expenses. Two-tenths to pay off debts. Finally, one-tenth is Dabasir’s to keep.

In the five tablets he writes about his journey from slave with no family and a mountain of debt to an honourable man on a path to becoming ‘rich among men.’ This intrigues Mr. Shrewsbury so much that he decides to follow it. He goes to his creditors, tells them the plan he’s using to pay them off and does so. He details his learnings in the second letter.

What’s interesting is the simple lessons he learned from tablets written centuries earlier - live within your means, always save, and always pay off debts. Mr. Shrewsbury address Dabasir’s works,

“He had a real message for fellow sufferers, a message so important that after five thousand years it has risen out of the ruins of Babylon, just as true and just as vital as the day it was buried.”

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

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