Summary of The Science Of Getting Rich
Wealth Creation Mastermind — Mar 22, 2018
This article is the second in a three-part series on The Science Of Getting Rich. The previous blog explains what the book is. This blog offers a summary of The Science Of Getting Rich and details core concepts, and the next blog will provide actionable tips to help you apply The Science Of Getting Rich to change your life. We’ve also written multiple blogs on two similar books, Think and Grow Rich and The Kybalion.
Overview of The Science of Getting Rich
Here’s the shortest summary of The Science of Getting Rich you’ll ever read: Think and act creatively to add value to others. Wallace D Wattles’ mission was to bring the world a simple method to achieve abundance, and this book represents a culmination of his work.
The Science of Getting Rich Action Steps
The core of the book is a series of action steps that you can take to add value to other people and, by doing so, become wealthy. The fact is that money is a medium of value, so the more value you provide to others, the more value you’ll get back in the form of money. Wattles’ action steps teach you how to maximize the value that you offer other people.
These action steps are what our summary of The Science of Getting Rich will focus on.
Before we go further, a quick note:
Many readers have failed to profit from the formula in part because of the subtitle: Financial Success Through Creative Thought. As a result, it’s easy to miss the importance of taking action with ‘Creative Thought’. Our summary of The Science of Getting Rich sheds light on how to get the most benefit from this success blueprint.
The title leads readers to believe Wattles is delivering a philosophy. That misses a major point. His intention was to provide a set of action steps, combined with a way of thought that leads to achievement. It’s true that about 98% of the content of each chapter is based on a philosophy – the monistic theory of the universe. That’s the belief that One is All and All is One. Furthermore, Wattles lays down the idea that One Substance manifests itself in the appearance of all matter and all energy. According to this philosophy, when you take these action steps, you are inviting the universe to co-create your reality with you.
The action steps are short and easy to miss. What are they?
Step 1: Have a definite vision
The first action step is to develop a clear vision for what you want. We’re not talking about just an affirmation. It’s not enough to want to be a millionaire. What’s required is a clear action plan, a well-conceived strategy for how you are going to accumulate wealth. Instead of Fire-Aim-Ready, the sequence should be Ready-Aim-Fire. What is your specific plan to realize your vision? Are you taking action before you have clearly thought through what to do?
There are all kinds of ways to make money. The most important question for you to answer is, ‘What are you going to do different and better than anyone else in your industry?’
Step 2: Be creative, not just competitive
A key concept in The Science of Getting Rich is the idea of creating instead of competing. What is creating? It means doing something new or different than what’s been done before. Here’s where investing quality time into thinking about your plan pays off. When you do that, something a bit mysterious begins to happen. Your subconscious mind kicks in. You receive intuition and insights from another source, and it can almost feel like you’re receiving amazing ideas from outside of yourself. This is what Wattles refers to as Infinite Intelligence.
By contrast, when you’re focused on your competition, then you’re not creating; you’re just reacting. It’s hard to be innovative or original when your action plan is reacting to what other people are building.
The central question
Ask yourself…Are you doing the same thing as others? Or, are you adding value by doing something different? If you’ve started a business, what makes your product or service unique? What is the benefit others will receive by working with you? People are attracted to creators; not to those who do the same thing as everyone else.
Look at this list of billionaires published in Forbes Magazine and consider what they created:
- Bill Gates – Microsoft
- Jeff Bezos – Amazon
- Mark Zuckerberg – FaceBook
- Larry Ellison – Oracle
- Larry Page & Sergey Brin – Google
- Jim & Alice Walton – Wal-Mart
- Phil Knight – Nike
- Theo Albrecht – Trader Joe’s
- Michael Dell – Dell
Step 3: Exercise your imagination with frequency
The third action step is to use your will power to discipline yourself to think about your vision and your plan every day. One of the secrets found in The Science of Getting Rich is the power of your imagination. How much time do you spend daily thinking about the life you want to live? When you develop the practice of thinking about your vision all the time, something exciting happens.
You begin to believe it! And once your subconscious mind begins to believe it, you start to tap into the creative force of the universe—the Infinite Intelligence. You’ll start to see doors open and opportunities arise, as the universe realigns itself to manifest the future that you believe in. Maybe that means that your ideal client calls you up and wants to book you, or that you find yourself meeting just the right person to grow your business at a conference.
Step 4: Maintain gratitude
Your attitude matters. Make the attitude of gratitude a habit. The Science of Getting Rich points out the importance of thinking in a certain way. Start and end each day by making a list of everything you’re grateful for. Infinite Intelligence only communicates through the subconscious mind, so it’s important for your subconscious mind to live in a state of gratitude—which is achieved by cultivating a daily gratitude practice. If you’re keeping an attitude of gratitude, you’ll receive ideas that will change your life and give you even more to be grateful for.
Step 5: Have 100% belief
When you doubt whether or not you’ll succeed, it’s like hitting the brakes. That doubt stops all forward progress towards your goal. So you need to cultivate authentic, powerful belief that you will achieve your goals. A great tactic to do this is to be grateful for the success you’re striving for even before you receive it. See the picture of what you want on the movie screen of your imagination. Soak it up and enjoy it. If you can convince your subconscious mind that you already have something you want, that part of your mind has no option other than to deliver it to you.
Step 6: Make every day a success
The Science of Getting Rich notes that it’s critical to combine thinking and acting. Fill your days creating, being grateful, and having belief. Take as much action toward your goal every day as possible. What action steps did you take today? Take stock. What did you do? Make a list. How much time did you waste on Facebook or YouTube? What distracted you today? What distractions can you eliminate? Take stock of your mindset too: were you grateful for the opportunities for success that you have, or did you spend most of the day frustrated? When you take maximum action daily and optimize your mindset, you’ll be amazed at how quickly you can achieve success.
Take only efficient action
It’s not just about being busy and taking a lot of action. It’s about making everything you create as efficient and excellent as possible. If you’re going to do something, then show up 100%. Give it all you’ve got. It’s better to do fewer things extremely well than to do a bunch of things poorly.
The Science of Getting Rich highlights the importance of adding value to others. The idea is to attract others to you. Magnetize people to come to you. Adding lots of value is not only possible, it’s the best way to build a large and loyal following. Deliver the best possible product or service you can, that will add value and make a positive difference to your audience personally.
Step 7: Get into a business that’s right for you
Many of Wattles’ insights are best applied by starting your own business. What business should you start? Here’s the trick. Identify the skills necessary to be successful in any chosen industry. What skills are you naturally good at? How can you use your skills to do something better than anyone else? Choose an industry that suits the skills you already have. There’s a lot to choose from. Online marketing, affiliate and network marketing, coaching, speaking, the stock market, crypto currencies, futures, and real estate investing are just a few.
The Science of Getting Rich highlights that the way to get rich in your specific industry is to be the best at what you do. Start where you are and constantly work on improving what you do. Go with what you’re good at, then get better.
We like the acronym CANI:
- C constant
- A and
- N never-ending
- I improvement
Step 8: Do more than fill your present place
Provide the absolute best. You’ve got to become great at what you do. How well do you serve your audience? Reach, stretch, strive, learn, and apply, and always try to grow so that you can serve your audience better. When you do that, you won’t just fill your present space (your job, your current income, your client list); you’ll actually outgrow it, and the universe will naturally give you something bigger and better. When you’re really striving, Infinite Intelligence will provide intuitive messages for how you can do better.
Step 9: Make money now
Go the extra mile. Create something unique, continue to make it better, and give way more than what you’re charging for. Whatever your price point is, your clients should be thrilled to pay it; not because you’re the cheapest option, but because they’re getting so much value out of your service that buying from you is a no-brainer. By providing an experience of ‘delight’, and giving your audience more use value than they expected, you’ll cause them to gravitate to you. This will help you to earn more customers. As that happens, continue to give them more value.
The Science of Getting Rich exposes the formula. Serve a lot of people, provide more value than anyone else, and give a lot away for free. Then begin to charge a little for something. You will begin to succeed right away because people will trust and like you and they will want to buy your products.
Money is just a medium for the exchange of value. Most people in this world are paid according to the value that they create for their fellow man. When you provide a huge amount of value, you will receive a corresponding amount of money.
Step 10: Give people the impression of increase
Do people feel that they will gain value by associating with you? You should strive to give maximum value to everyone you meet. Impress upon everyone you interact with the benefit they will receive by associating with you. Make sure people understand that what you are giving them is valuable. Say things like…“I hope this is valuable to you”. Make sure that people see how hard you are working to help them succeed.
Look at the blogs that we write for the Wealth Creation Mastermind. On our blog we’ve given away thousands of dollars of free content pertaining to the creative method of thought. The WCM is dedicated to helping others become financially free, and we give away high caliber content without expecting anything in return. On top of that, we offer free coaching via our weekly Mastermind call. Then, only after providing a really high value proposition without charging, do we present you with the option to pay money for truly advanced services.
This is the last action step. Now, let’s talk about how to synthesize these skills and dramatically benefit from them.
Summary of The Science of Getting Rich
Wallace D. Wattles’ book is deep and complex, but if you’re looking for a quick summary of The Science of Getting Rich, here it is.
You become abundant by using your creative imagination to develop a plan to add great value to others. The more you help people get the things they want, the more wealth and abundance will flow to you.
If you’re intrigued by this summary of The Science of Getting Rich and are looking for a deeper analysis, then we recommend that you join our Mastermind where we analyze The Science of Getting Rich and similar books in-depth.
How to get the most benefit
It’s common for people to read the book once and believe they understand it. But like anything, the more attention you give something, the better you get at it. Treat understanding these concepts the same way you would treat learning a new skill, and really throw yourself into mastering them.
Look at how The Beatles, one of the most iconic rock bands in history, got their start. Between 1960 and 1962 they played in cellars and small clubs in Hamburg Germany for six hours a night, for virtually no pay, and often with a very small audience. By the end of that time they had hundreds of hours of experience performing to a live audience. When they exploded onto the international scene, it was because of the hard work they had done in mastering their craft.
There is tremendous benefit to be gained by systematically rereading and studying this book. Understanding and applying these action steps is its own skill set, possibly the most important skill set you’ll ever learn. Practice it, and practice some more. Learn the formula for success. Apply CANI.
And, while you’re doing that, keep learning the skills that you’ll use to add value to the world. Do these two things in tandem, and they’ll reinforce each other; and you’ll find yourself on the fast track to become better at what you do than anyone else.
Take The Science of Getting Rich to the Next Level
Buy The Science of Getting Rich on Amazon. Here’s the link.
If you’re like most entrepreneurs, then you already understand the value of always learning something new. The tools in The Science of Getting Rich might be the most important thing you’ll ever learn. If you want to just read these blogs or do a solo study of the book, then that’s fine. But if you want to cut your learning curve and dramatically grow your results, then consider what would happen if you took it one step further. What if you could find a group of like-minded people, all studying this text and others like it, all helping each other learn and helping each other to rapidly improve their lives?
That’s the power of the Wealth Creation Mastermind.
Are You a Good Fit?
The Wealth Creation Mastermind isn’t right for everyone. If you’re looking for a get-rich-quick scheme, then this group isn’t for you. If you don’t want to put in the hard work to improve yourself and your life, then you won’t enjoy this group. Here’s how to know if the WCM is right for you:
- You want more out of life
- You believe in self improvement
- You want to make an impact
- You have decided to be the highest and best version of yourself possible
If this description fits you, then we highly recommend you fill out the form on this page to Join the Mastermind. We learn how to harness the creative method of thought in specific ways to create wealth. Apply for free.