The Magic of Thinking Big
How it Applies to Financial Behavior

Learn to apply concepts in The Magic of Thinking Big, a motivational book about success, and you can earn more money, obtain a promotion, or succeed in starting a small business.

The Magic of Thinking Big has practical tips that will motivate you to take action in order to achieve your goals.

Since financial literacy = financial IQ plus behavior, a book on how you can change your thoughts to change your behavior will help you reach financial success.

How The Magic of Thinking Big Applies to Money

Believe You Can Succeed and You Will

·         Don’t underestimate the power of belief. If you’re struggling with debt and think it’s impossible to climb your way out, change your outlook. Where there’s a will there’s a way. Seek debt reduction advice, get on a budget, or find ways to generate extra income. Keep at it.

·         Keep your inspiration alive. Your mind is a “thought factory” that you can use to do great things, or nothing at all.

If you have a goal like buying a home or starting a small business, keep taking steps toward your goal. Your mind will start working on the “how” to make it happen.

Cure Yourself of the Fear of Failure

·         Age, intelligence, health and luck have no impact on success. Don’t fall into the trap of making excuses. Ultimately, your success depends on your resourcefulness and tenacity.

·         Don’t let fear of failure steal your future. Fear begins in your mind and becomes a barrier only if you let it. Replace fearful thoughts with big plans to succeed in your personal finance and business goals. Take action to cure fear.

Get Into the Action Habit

·         Don’t wait until conditions are perfect. The conditions to start a savings plan, invest in property or start a business are never perfect. Those who have succeeded simply took action and went from there. Figure out how to “launch” in your present circumstances.

·         Start now. Been putting off important money goals? Perhaps plans to start an RRSP, learn how to invest or develop a business idea? Do it now.

By stalling or putting things off, the only person who loses is you. On savings, you miss out on the power of compounding. On investment opportunities, you miss out on potentially great returns. Don’t wait. Do something.

How The Magic of Thinking Big Applies to Career

Climbing the career ladder

You Are What You Think You Are

·         Look important. How you look and dress influences how you feel about yourself. How you feel about yourself can influence your behavior towards others. Try to present “quality” in your interactions at work.

·         Think your work is important. Believe your work is important and you will do your job better. Your outlook will affect your performance, work relationships and ultimately career prospects.

Think Right Toward People

·         Success depends on the support of others. Take initiative in building friendships and treat others well. Practice liking them until it becomes automatic. You’ll be “easier to lift” (in other words, likeable).

·         Don’t blame others when you experience setbacks. Don’t waste energy on being discouraged. Determine how you make can yourself more deserving of opportunities as they arise.

Make Your Attitudes Your Allies

·         Treat others with importance. Practice appreciation, and recognize others by giving credit when it is due. Everyone wants to feel important. This will go a long ways in business and personal life.

·         If you want to make money, put service first. Give people more than they expect to get, in everything you do. Your boss will notice. Your business will grow.

How The Magic of Thinking Big Applies to Small Business

Use Goals to Help You Grow

·         Write out your 10-year plan. Put down on paper what you want to accomplish in work, at home, in relationships. You need to know where you want to go and how you’re going to get there.

·         Let your major goal be your automatic pilot. If you’ve always wanted to start your own small business, make sure it’s around something you’re passionate about. Your passion will be your driver through distractions, temptations and dry spells. 

·         Invest in your education. How well-educated you are is determined by how well your mind is developed, not by intelligence or number of degrees. Keep your mind sharp.

How to Think and Dream Creatively

·         Believe it can be done. Eliminate the word “impossible”.  Become receptive to new ideas, experiment with new routines, and be progressive.

If starting a business or looking to ways to improve your existing one, find a solution to a problem in a specific niche market, one that big business operations cannot cater to, and you’ll succeed.

·         Ask yourself how you can do more. “The success combination in business is: Do what you do better (improve the quality of your output), and: Do more of what you do (increase the quantity of your output).”

How to Turn Defeat Into Victory

·         Study setbacks to pave your way to success. By understanding where you have failed, you can fix the problem and make improvements. There is always a way to win at what you do.

·         Blend persistence with experimentation. Always try new approaches. It will pay off when you hit a formula that is successful in life or in business. Then, keep building on the new approach.

There’s no surprise why The Magic of Thinking Big remains a cult classic. The book has many practical tips that can influence your thoughts and financial behavior. 

With that in mind, there’s no reason why you can’t win with money or in your personal life.

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