How to Cash It In for Success

I was reading the second chapter of Napoleon Hill's Think and Grow Rich when I came across a profound truth that reminded me of a financial lesson I learned years ago. Before I reveal the truth, let me share with you the lesson of Realized Gains and Losses:

If you were to take $3,000 and invest it in the stock market at a price of $10 per share, you would have 300 shares of stock. As it sometimes does, the stock price drops to $7 per share. Emotional investors start to panic at this point. After all, they bought the stock at $10 because it had already dropped to this low price and they expected it to shoot back up. But now it dropped even lower and they think they just lost $900 in the transaction.

But what have they really lost? They bought 300 shares and, even though the price dropped, they still have 300 shares. It isn't until they sell those shares that they REALIZE a gain or a loss. And those panicky people that are dumping their shares at $7 a share are kicking themselves at the end of the week when the price rockets back up to $15 a share.

What does all this have to do with Think and Grow Rich?

In the second chapter, Hill writes of the power of Desire. He lists a number of people who have passed through difficulties and disappointment before they achieved anything of consequence. At the end of the short paragraph on Helen Keller, Hill writes:

"...no one is ever defeated until defeat has been accepted as a reality."
Much like the investor in the example above, you have only lost when you accept that reality and decide to cash it in. Nobody ever becomes great or successful without having to experience setbacks, frustrations and adversity. Anybody who tells you otherwise is lying to you. It is only those who continue to believe in their personal value and capability for success that refuse to accept that failure and push on until they reach their success.

What would have happened to Thomas Edison if he had believed the teacher that told him he was too stupid to learn anything and that he should seek a profession where he might succeed by virtue of his pleasant personality?

What would have happened to Oprah Winfrey if she had accepted the judgment that she "had no business anchoring the news in a major market" when she was fired as a TV news anchor?

What would have happened to Walt Disney if he had accepted the assessment that he lacked imagination and had no original ideas" when he was fired by a newspaper editor?

What would have happened to Michael Jordan if he had hung up his basketball shoes when he was cut from his high school team?

What will happen to you if you accept defeat at any stage of your journey? Then nobody will know the real you and the greatness you have to share with the world. Don't let that happen! Do not cash it in until you stand in the winner's circle, triumphant!

Tips for Overcoming Temporary Defeat:

1. Keep your dream firmly fixed in your mind at all times. Create visual reminders like a dream board. Spend a few minutes every morning and every evening visualizing you accomplishing your dream and the benefits that will bring. Really live it!

2. Trust in the value of your dream. Jack Canfield and Mark Victor Hansen were rejected by 144 different publishers that didn't believe a book of short stories would sell when they tried to get Chicken Soup for the Soul published. But they persisted because they knew people wanted what was in that book. People were asking them all the time where they could read the stories they shared in their presentations. When someone rejects you and your dream, trust that there are people waiting for you to succeed; if for no other reason than to believe that it is possible for them, too.

3. Treat each setback as a learning opportunity. Napoleon Hill said that "every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit." Find the lesson in each in every failure and learn from it. It is these lessons that teach you how to become successful.

4. Trust in the power of numbers. Athletes are great examples of the fact that those who are persistent enough to endure failure will succeed. The year that Babe Ruth set the major league record of 714 home runs, he also set another record by striking out 1,330 times. You have to be willing to fail and fail again in order to be successful. This is true in sports, business or any other area of life you are seeking success in. The only people who never fail are those who never try to begin with.

5. Believe and reaffirm your capability of success. I love the quote by Michael Jordan where he says: "I have missed more than 9,000 shots in my career. I have lost almost 300 games. On 26 occasions I have been entrusted to take the game winning shot, and I missed. And I have failed over and over and over again in my life. And that is precisely why I succeed." This quote may seem to be more in line with the last point, but I use it here because it illustrates the confidence he had in his ability to win. Our egos, our self-esteem can be so fragile at times and they can take a major hit with every setback or failure. When this happens, be like Mike and just keep shooting with full confidence that your shots are going in. Because when you start hitting your shots, you achieve a mind-body-spirit connection that makes you unstoppable!