Part 2 of our series on the 31 Causes of Failure according to the great Napoleon Hill. Be sure to catch part 1 if you missed it.
There are lots of reasons that people fail. Napoleon Hill in his classic book "Think & Grow Rich" narrowed it down to 31 major causes. As we continue with our study don't be afraid to be brutally honest with yourself and assess whether or not you have any of these traits or habits. The only way to overcome them is to first recognize they exist, the analyze their negative affects then work diligently to change them.
31 Major Causes of Failure #11-20
#11 Lack of Controlled sexual urge - Sexual urge is a powerful driving force. Just as with any force of power if not properly controlled it could cause irreparable damage. I can testify to the fact that transmuting this energy to something positive and creative can elevate a person. However turning this control over to someone else on the other hand can be outright detrimental. We've seen men rob, cheat and steal while under the control of a woman manipulating control of sexual urge. Likewise we've seen women battered, bruised and coerced to do strange things when they hand over control of this energy to men.
#12 Uncontrolled desire for "Something for nothing," - Seems as if this one plagues the black community more than any other culture, but I could be wrong. I have experience and encountered countless lottery players, gamblers and opportunity seekers that are all looking for success and not willing to put forth any effort. All looking for an easy way out or a way to get rich quick with minimal effort. We all have a little bit of this in us. Society is quick to highlight those that have some measure in which the have literally done nothing to achieve, therefore it creates a false sense of hope in millions of people. They're hoping if they find themselves in the right place, at the right time they'll receive a windfall of success that they did not work for.
#13 Lack of defined power of decision - This one is another one that is seems easy to overcome but it's obviously not because so many people struggle with it. These are the people that can't make up their mind, the sit on the fence for weeks before making a decision and in most cases the circumstance makes the decision for them. They wait and wait until the opportunity is gone, always talking about what they were going to do, but waited too late. This issue is crippling the black community, because if you can't make a decision you can't take action. That's what we see a lot of in our community, no action and it's because people are afraid to make a decision.
#14 One or more of the six basic fears - We all struggle with fear and it's understandable. However, the only way to overcome fear is to educate yourself about that which makes you afraid. If you continue to live in fear because you refuse to educate yourself then fixing that problem is an inside job.
#15 Wrong selection of mate in marriage - The bible speaks of being "unequally yolked" spiritually, and that can be very detrimental to a marriage. Being unequally yolked in other areas can also be as detrimental if not more. Think about the area of finance, how long and a serial spender stay in a relationship with a serial saver. Ambition is another area that must be consider, can a go getter stay with a no getter? One of the 7 common keys of self-made millionaire is the fact that they married well. Not married a person with money but married a person that they were equally yolked with in several areas of life.
#16 Over Caution - One of the contributing factors to indecision is over caution. How long does it really to take to do your research, weigh the pros and cons and make a decision. There is nothing wrong with a healthy skepticism but some people literally take it too for. It's my belief though, that they use this tactic as we way to keep from making a decision. People literally stay in study mode forever. At some point you have to get in the field and put into practice that which you have learned. So there is a such thing as too cautious. Life is filled with both risks and rewards but you'll never get the latter until you're willing to sacrifice for the former.
#17 Wrong selection of associate in business - Just as you want to select the right person in marriage, business partnerships are similar to that of a marriage. The same applies, there must be balance and you must be equally yolked, not in as much as having the same beliefs but definitely wanting the same things. Do your skill sets compliment one another or do they contradict one another.
#18 Superstition and prejudice - To be prejudice means you're pre-judging, I'm sure that has ever been an effective way to evaluate anything. it's almost like being over cautious, your judging whether or not something can be effective in helping you achieve success before giving it a shot. Superstition is just another form of fear. Not that fear is bad, as fear in terms of respect is a good thing and causes you to proceed with caution but at the end of the day you proceed. Some superstitions are just without merit and should be dismissed.
#19 Wrong selection of vocation - The ultimate goal should be to find 1 or 2 ways to get paid for 1 or 2 things that you absolutely love to do. However until you find that perfect situation, especially if you have youth on your side, you should be looking at a vocation that creates the most opportunity to create positive cash flow in your life. In addition to positive cash flow you should be looking at other upsides as well like knowledge that can be gained, relationships that can be leveraged in the future etc. Robert Kiyosaki said in "Rich Dad Poor Dad" that wealthy people don't work for money. While I believe that to be true they do work for other forms of wealth that can be leveraged and easily converted into money. All of these things should be considered when choosing a vocation.
#20 Lack of concentration of effort - The proverbial "Jack of all Trades, master of non!" In today's society all the big bucks are doled out to those who specialize. Just ask yourself, "who makes more money?" is it the general practitioner or the brain surgeon? Most people have heard it said the wealthy people have multiple streams of income and they try to put their hands in many things in hopes to become wealthy. What they fail to realize is those wealthy people have multiple streams that all derive from the 1-2 things that they specialize in. Take one of my virtual mentors for instance Grant Cardone who specializes in sales and real estate. He has an explosive sales training company the creates a stream from that expertise, he has books, seminars, digital products and more that create additional streams from that one area of expertise.
Cardone is also an expert real estate investor. He makes a ton of money from own multi family apartment complexes. out of that expertise he also sells books, digital products, and workshops on how to become a successful real estate investor. I wouldn't be surprised if he owned a property management company to manage his properties and those of others creating even more streams of income but they all come from his area of expertise. If you're not careful you can very easily end up with multiple puddles that don't amount to much of anything in your pursuit of multiple streams.
Be sure to stay tuned for the rest of this series. Also leave us a comment below and share this blog if you got value from it. Until next time, get your money up because you absolutely can do it, but more importantly, you deserve it.
H Cortez aka Financial Health Mentor to the Working Class
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