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Master Mind August 15, 2008

Posted by shaferfinancial in Uncategorized.
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Knowledge is power, so says the old adage.  But, lets talk about that knowledge for a little.  A key insight from “Think and Grow Rich” by Napoleon Hill is the reality of knowledge as it pertains to wealth building.  Originally published in 1937, “Think and Grow Rich” was an extensive study of the wealthy of the time, almost all self-made men.    Many like Henry Ford failed to graduate high school.  When during WWI, a newspaper made statements about Ford being an “ignorant pacifist,” he took them to court for libel.  While on the stand the opposing lawyer started peppering Ford with questions of facts from American history.  Finally, he replied “…..I can summon to my aid people who can answer any question I desire to ask concerning the business to which I am devoting most of my efforts.  Now, will you kindly tell me why I should clutter up my mind with general knowledge, for the purpose of being able to answer questions, when I have people around me who can supply any knowledge I require?”

He won the case by making this point.  For us, it points out a very important piece of wealth building.  No one person has all the answers.  If Ford felt that way before 1920, then 90 years later, when we are even more specialized than ever, we should all take a deep breath and realize that the critical thing is how to organize and use knowledge.

When the word master mind is used, we are talking about combining the knowledge of a group of people.  In order to build wealth you need to create a master mind group of your own.  Recently, I was talking to someone in my master mind group and he pointed out a deficit in the Shafer Wealth Academy and my thinking. As a result I am changing the final component of the Shafer Wealth Academy.  Now, when folks graduate, they will be encouraged to add folks with specialized knowledge to their team.  Like Henry Ford, they will have the option to call folks in, with specific knowledge, to help them build their businesses and/or help them with their investments.  Sometimes you neglect the obvious.  This is one of those cases.  Rest assured, the Shafer Wealth Academy will continue to do everything in its power to help you become successful in your wealth creation endeavors!   

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1. thinkandgrowrichmovies - December 13, 2008

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