10 rules Andrew Carnegie used to become one of the world’s richest men

10 rules Andrew Carnegie used to become one of the world’s richest men

Richard Feloni, Business Insider | May 30, 2014 6:01 AM ET

Andrew Carnegie arrived in the U.S. in 1848 with barely a dollar to his name. By 1901, he was the richest man in the world.

At the height of his power, he was approached by a young journalist named Napoleon Hill who was interested in telling the stories of successful people.

Carnegie saw a special drive in Hill and in 1908 decided that Hill would document all of the strategies that made him a legendary businessman and philanthropist.

Together, they helped pioneer the self-help genre, and Hill’s 1937 book “Think and Grow Rich” has gone on to become one of the top-selling books of all time.

When Hill began his career writing about success, Carnegie gave him his “10 Rules of Success” that provided a foundation for much of Hill’s work. Here’s a synopsis of the rules, which appear in the forthcoming collection “The Science of Success“:

1. Define your purpose.

Create a plan of action and start working toward it immediately.

2. Create a “master-mind alliance.”

Contact and work with people “who have what you haven’t,” Hill says.

3. Go the extra mile.

“Doing more than you have to do is the only thing that justifies raises or promotions, and puts people under an obligation to you,” writes Hill.

4. Practice “applied faith.”

Believe in yourself and your purpose so fully that you act with complete confidence.

5. Have personal initiative.

Do what you have to without being told.

6. Indulge your imagination.

Dare to think beyond what’s already been done.

7. Exert enthusiasm.

A positive attitude sets you up for success and wins the respect of others.

8. Think accurately.

In Hill’s words, accurate thinking is “the ability to separate facts from fiction and to use those pertinent to your own concerns or problems.”

9. Concentrate your effort.

Don’t become distracted from the most important task you are currently facing.

10. Profit from adversity.

Remember that “there is an equivalent benefit for every setback,” Hill writes.

 

 

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a comment