How to Get Rich: Secrets of Bangladeshi Entrepreneurs

How to Get Rich: Secrets of Bangladeshi Entrepreneurs

From Napoleon Hill's 'Think and Grow Rich' to the success of Akijuddin and Biplob Ghosh Rahul—a 4,000-word practical guide to financial freedom.

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Economic success—when these two words reach our ears, a fire ignites in our minds. Who doesn't want to stand on their own feet and build an independent, prosperous life? In today's rapidly changing world, achieving financial freedom is no longer just a dream; it is the result of an essential mindset and a well-defined plan. But the question is—what is the right path? Is dreaming enough, or does it require a specific plan, perseverance, and mental strength behind it?

In this extensive article, we will delve deep into this topic. We will start with Napoleon Hill's timeless book, Think and Grow Rich, which has inspired millions worldwide and explained the psychology of wealth creation. Then, we will explore the secrets of self-made millionaires' lifestyles from research by the World Economic Magazine and the book The Millionaire Next Door, proving that success comes from discipline, not glamour. Finally, we will use the real-life stories of two successful entrepreneurs from our own country, Bangladesh—Akijuddin and Biplob Ghosh Rahul—to demonstrate that this philosophy is equally applicable in our local context.

This article is not just theoretical but built from a practical perspective, so that you—regardless of age or background—can apply these strategies in your own life to achieve economic freedom. We will see that economic success is not just about saving or earning money; it is a mental process that begins with a burning desire and ends with persistent action. Let's begin with the stories of people.

Chapter 1: Napoleon Hill's Philosophy—Creating Wealth from the Power of the Mind

Napoleon Hill's Think and Grow Rich, published in 1937, remains one of the world's most influential self-help books. Hill spent nearly 20 years interviewing over 500 successful individuals, including Thomas Edison, Henry Ford, and Andrew Carnegie, to write this book. The core message of the book is: "Whatever the mind can conceive and believe, it can achieve."

1.1 Burning Desire: The First Step to Success

Hill states that success begins with a Burning Desire. This is not a mere wish; it is a feeling that consumes your every thought and compels you to act.

The Story of Edwin C. Barnes: Barnes dreamed of working with the inventor Thomas Edison. He didn't even have enough money to travel to Edison's office, yet with an intense desire, he reached there by freight train. Initially, Edison gave him a menial job. But Barnes did not give up; he looked for opportunities to stay close to Edison and learn. His unwavering desire impressed Edison. Eventually, Barnes became Edison's business partner and achieved more than he had ever dreamed of.

Technique to Strengthen Desire (Auto-Suggestion): Hill advises that desire should not just be harbored in the mind; it must be implanted in the subconscious. This process is called Auto-Suggestion.

• Set a Definite Goal: Write down exactly how much money you want, by what date, and what you will give in return.

• Determine the Exchange: What will you give? (e.g., 12 hours of hard work daily, acquiring new technical skills, or bearing risks).

• Daily Practice: Every morning after waking up and every night before sleeping, read your goal aloud and visualize that you have already achieved it.

Auto-Suggestion Template: "By (a specific date, e.g., December 31, 2030), I will have in my possession (a specific amount, e.g., 5 crore BDT). In return for this money, I will give (specific work/effort, e.g., 12 hours of work daily and acquiring new digital skills). I know this money will come to me, so I feel and believe it is in my possession now."

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1.2 Faith: The Fuel of Desire

Hill says that without Faith, a burning desire cannot be born or sustained. Faith is the element that influences the subconscious mind and guides the desire on its path to reality.

The Example of Mahatma Gandhi: Mahatma Gandhi had no military power. But the core strength behind uniting millions of his followers in a non-violent movement was his unwavering faith in his path. This faith first arose within him and gradually spread to others, turning into a powerful mass movement.

Conscious and Subconscious Mind: The subconscious mind does not operate on logic; it operates on the feeling of belief. What you repeat day after day, the subconscious mind begins to believe. This is where control over thoughts comes in. We must consciously discard negative thoughts and hold on to positive ones. The words of poet William Ernest Henley are relevant here: "I am the master of my fate, I am the captain of my soul." We are the controllers of our destiny and soul.

1.3 The Mastermind Group: Coordinated Power

Hill spoke of six basic fears (e.g., fear of poverty, fear of criticism) that destroy human reason. To overcome these fears and maintain perseverance, he introduced a crucial concept: the Mastermind Group.

A Mastermind is a coordination of two or more people who work in perfect harmony and understanding to achieve a definite purpose.

• Sharing Knowledge and Experience: When the knowledge of multiple individuals in a group is combined, it becomes much more powerful than the knowledge of one person.

• Support System: When you fail or feel like giving up, the Mastermind group provides you with mental and motivational support.

• New Perspectives: Others may see solutions to your problems that are impossible for you to see alone.

Mastermind in the Bangladeshi Context: For small and medium-sized business owners in Bangladesh, learning together and solving problems through local chambers or associations is a practical form of a Mastermind group. It creates new opportunities through networking.

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1.4 Napoleon Hill's Six Basic Fears

According to Hill's philosophy, the biggest obstacles on the path to wealth are mental limitations and fear. People are typically driven by six basic fears that kill their burning desire:

1. Fear of Poverty: This is the most destructive. It prevents individuals from taking risks and starting new ventures. The fear of poverty is a state of mind that creates a lack of opportunity.

2. Fear of Criticism: This stops people from talking about their dreams or doing anything unconventional. The thought of "what will people say" kills many creative ideas at their inception.

3. Fear of Ill Health: The fear of physical illness.

4. Fear of Loss of Love: The fear of losing or being separated from loved ones.

5. Fear of Old Age: The fear of losing the ability to work and becoming useless due to old age.

6. Fear of Death: The fear of the end of life.

Technique to Overcome Fear: Hill suggests identifying the sources of fear and consciously applying auto-suggestion with positive beliefs to counter them (e.g., countering the fear of poverty with the desire for financial freedom).

Chapter 2: The Secret of Self-Made Millionaires

Research from World Economic Magazine and the classic book The Millionaire Next Door by Thomas J. Stanley and William D. Danko shows that most self-made millionaires do not live glamorous lives. They live simple lives and spend less. Their focus is on wealth creation rather than wealth display.

2.1 Living Below Your Means: The Core Mantra

"Living below your means," or spending less than you earn, is the primary mantra of their success. This is not stinginess; it is conscious spending and financial discipline.

• Assets vs. Liabilities: The wealthy know that luxury cars or large houses are liabilities, which regularly increase expenses. Instead, they buy assets, which earn money for them (e.g., stocks, real estate, or businesses).

• Warren Buffett's Example: One of the world's richest men, Warren Buffett, still lives in the same house in Nebraska he bought in 1958 and eats simple food. His lifestyle proves that being wealthy and being extravagant are not the same thing.

2.2 Budgeting and Saving: Discipline

Budgeting is essential to implement the principle of spending less than you earn. According to a CNBC report, 76% of millennials use a budget. A Fidelity survey confirms that those who save regularly and automatically become wealthy.

Effective Budgeting Strategies:

• The 50/30/20 Rule: 50% of income for needs, 30% for wants, and 20% for savings and investments.

• Zero-Based Budgeting (ZBB): In this method, every taka of income is allocated to a specific purpose, so that no part of the income is left without a purpose at the end of the month. This is very effective for small businesses.

• The Envelope System: This is a cash-based method where cash for each expense category (e.g., groceries, transportation) is placed in a specific envelope, which helps control overspending.

2.3 Investment and Continuous Learning: Investing in Knowledge

Research from the National Endowment for Financial Education shows a direct correlation between financial literacy and wealth accumulation. The more you know, the better decisions you can make.

Basic Investment Concepts and Risk Management:

Savings must be invested. However, investing is not without risk.

2.6 [New Section] Strategy for Creating an Investment Portfolio for Bangladesh

To achieve economic success, merely saving is not enough; a well-thought-out Investment Portfolio is necessary. Bangladeshi entrepreneurs and professionals should consider some fundamental factors when creating a portfolio.

a. Considering Risk Tolerance and Age
In investing, risk tolerance should be directly related to age.

• Young Investors (20-35 years): At this age, income stability may be lower, but there is more time on hand. Therefore, the capacity to take risks is higher. Their portfolio should have a higher allocation to high-growth assets like stocks, mutual funds, and their own business (around 70%-80%).

• Middle-Aged Investors (35-50 years): During this time, income is usually stable, but financial responsibilities (like children's education) increase. Thus, a balanced portfolio should be created by reducing risk slightly—50% in growth assets, 50% in fixed-income assets (like savings certificates, bonds, or real estate).

• Senior Investors (50+ years): At this stage, capital protection is most important. They should invest more in risk-free or fixed-income assets (around 70%-80%).

b. The Principle of Diversification
Much like Napoleon Hill's Mastermind principle, diversification in investment is a mastermind strategy to reduce risk. According to the principle of "not putting all your eggs in one basket":

• Asset Class Diversification: Instead of keeping all your money in the bank, invest in different asset classes—such as the stock market (shares), real estate, gold, and bonds. If one market performs poorly, another will protect your portfolio.

• Industry Diversification: If you have your own business, invest your passive income in another sector. For example, if you are in the textile business, buy mutual funds in the technology or financial sector with your savings.

c. Regular Investing (Dollar-Cost Averaging)
The best strategy for financial success is not to try to time the market but to invest a fixed amount of money at regular intervals. This is called Dollar-Cost Averaging (DCA). It ensures you benefit from market stability in the long run and reduces mental stress.

2.4 Multiple Income Streams and a Debt-Free Life

Two important pillars for economic security are being debt-free and creating multiple sources of income.

• Debt Freedom: Financial expert Dave Ramsey says a debt-free life increases economic security. High-interest consumer loans (credit cards or personal loans) are a huge obstacle to wealth accumulation.

• Active vs. Passive Income: Successful individuals do not rely solely on active income (salary from a job). They create passive income—which comes from assets and does not depend on your direct time or labor, such as digital products, dividends, or rental income.

2.5 Giving Back: The Abundance Mindset

Donating, like Bill Gates and other successful individuals do, is not just social service; it creates an Abundance Mindset. It teaches the mind that you have so much that you can share it with others, and more wealth will come to you—which further strengthens faith. The mentality of giving back also helps increase an entrepreneur's brand credibility and market acceptance.

Chapter 3: Obstacles and Perseverance: Learning from Temporary Defeat

Hill says most people give up when they are very close to success because they mistake temporary defeat for final failure.

3.1 Defining Failure

The famous inventor Thomas Edison, who failed thousands of times, said: "I have not failed. I've just found 10,000 ways that won't work." This mentality is the foundation of perseverance. Failure is useful feedback on the path to your goal, teaching you how to do better next time.

The Gold Mine Story:
A man searched for a gold mine for years. But after failing to find gold, he stopped digging just three feet away. The person who later acquired the mine, on the advice of experts, found a huge amount of gold after digging just three feet. Hill uses this story to prove that defeat often comes just one step before success.

3.2 The Formula for Perseverance and Time Management

Perseverance can be developed; it is not innate. It requires:

• A Burning Desire and a Definite Goal: With these two, it is easier to maintain perseverance.

• A Plan and Daily Action: Small daily steps will lead you toward achieving your big goal.

• Protecting the Mind from Negative Influences: Keep your mind away from the negative words of friends, relatives, or society. Hill sees this as mental pollution.

• Time Management: To maintain perseverance, it is essential to prioritize tasks. According to the Eisenhower Matrix, tasks are divided into four categories: Urgent & Important, Urgent but Less Important, Important but Less Urgent, and Not Urgent & Not Important. Successful people focus on important tasks while eliminating the less important ones.

3.4 [New Section] Daily Habits for Perseverance and Mental Toughness

Perseverance is a skill acquired through regular practice. To build this Mental Toughness, Napoleon Hill and modern psychology recommend the following daily habits:

a. The Power of Routine
Most successful people, like Bill Gates or Jeff Bezos, follow a strict daily routine.

• Morning Ritual: The first hour after waking up is the most important for you. During this time, instead of checking your mobile phone or email, you should meditate, exercise, or review your goals. This prepares your subconscious mind for the day's work.

• Eat the Frog: This is Mark Twain's principle. Finish your most difficult and important task of the day (which is crucial for your long-term goals) first thing in the morning. This will make you feel lighter throughout the day.

b. Physical and Mental Fuel
Mental strength comes from physical well-being. Hill believed that good health is one of the fundamental pillars of success.

• Healthy Lifestyle: Regular nutritious food and adequate sleep eliminate mental fatigue and indecisiveness (Paralysis by Analysis).

• Daily Movement: Exercise releases endorphins in the brain, which keeps your mind cheerful and frees you from negative thoughts.

c. Negative Shielding
The main reason perseverance weakens is a negative environment.

• Information Control: Limit negative news or social media. Fill your mind with positive information as much as possible.

• Refining Relationships: Maintain distance from those who constantly belittle your dreams or discourage you. Remember, your Mastermind group will always inspire you.

3.3 Quick Decisions and Mental Toughness

According to Hill, the fear of poverty is the most destructive and it impairs reasoning. The solution is the ability to make quick and firm decisions.

• Paralysis by Analysis: This is a state where people fail to make a decision and miss opportunities due to over-analyzing information. The wealthy gather important information, make quick decisions, and correct course if they make mistakes along the way.

• Henry Ford's V8 Engine: Engineers told Henry Ford that making a V8 engine in one piece was "impossible." Ford said, "I want it, and I'll have it." This Mental Toughness proves that successful people remain steadfast in their goals.

Chapter 4: The Bangladeshi Context: Local Examples and Business Ideas

Although Hill's philosophy is Western, its fundamental principles are equally applicable in Bangladesh. Many believe that starting a business requires a lot of capital or connections—but the stories of successful local entrepreneurs prove this wrong.

4.1 The Story of Akijuddin: A Real-Life Example of Perseverance

Akijuddin (founder of Akij Group) was a living example of Hill's philosophy.

• The Beginning: He started a bidi (hand-rolled cigarette) business in 1952 with only three workers. His capital was minimal, but his desire was intense.

• Perseverance: His shop once burned down, but he did not give up. He did not consider this temporary defeat as final.

• Strategy and Belief: His strategy was: the best quality product at the lowest price. This principle of not compromising on quality expressed his unwavering faith in his work.

• Success Analysis: Akijuddin's story proves that Desire + Persistence works in any context. His business principles were very basic and consistent with Hill's principles.

4.2 The Story of Biplob Ghosh Rahul: Application of Specialized Knowledge

Biplob Ghosh Rahul's story shows how specialized knowledge and a problem-solving mindset can bring economic success.

• Problem Identification: After graduating in engineering, he noticed a huge problem with product delivery for e-commerce sellers. He quickly identified this problem.

• The Solution: With his own savings, he started a delivery service with just two bicycles. This was a specific plan targeting a specific problem.

• Success Analysis: His success proves that the key to success is not capital, but identifying a specific market problem and applying specialized knowledge.

4.3 Bangladesh's Digital Economy: A Highway of Opportunity

Currently, Bangladesh has over 70 million internet users. Opportunities are being created here.

Small Case Studies of Success:

• Facebook Entrepreneur (e.g., 'Priyo Poshak' - a virtual shop): A female entrepreneur who started selling homemade or imported clothes through a Facebook page with little capital. Her success came from an unwavering belief in quality and building personal relationships with customers.

• Freelancer (e.g., Graphic Designer Rana): Rana uses his specialized knowledge (graphic design) to serve local and international clients. He has increased his income and created multiple income streams through continuous learning.

Conclusion: The Secret Formula for Economic Success

Economic success does not depend solely on money or opportunity. It is the result of mental and practical discipline.

The Mental Foundation of Success:

• Burning Desire: That which consumes your every thought.

• Unwavering Faith: Not doubting yourself or your goal.

• Overcoming Fear: Conquering the fear of poverty or criticism to make quick decisions.

• Unyielding Persistence: Viewing temporary defeat merely as a learning experience.

The Practical Habits of Success:

• Living Below Your Means: Spending less than you earn and focusing on wealth creation.

• Regular Savings and Investment: Automatically investing a portion of your income.

• Continuous Learning: Acquiring financial literacy and specialized knowledge.

• Quick Decisions: Avoiding paralysis by analysis and making swift, firm decisions.

The philosophy of Napoleon Hill, international research, and the stories of Akijuddin and Biplob Ghosh—all prove that success is possible in any context with the right principles. The greatest capital is organized, practical knowledge and an unwavering belief in oneself.

Now, it's your turn. Don't just dream—turn your dreams into reality. Daily habits are the secret formula for success. Start today!

❓ Frequently Asked Questions (FAQ)

1. What is the minimum amount of money needed to start achieving economic success?
Answer: In Napoleon Hill's philosophy, money is not a barrier. He said, 'The lack of desire is the main problem, not the lack of money.' You can start a small business like Facebook marketing with 5,000 BDT or homemade food delivery with 10,000 BDT. Your initial capital will be your specialized knowledge and labor.

2. Does auto-suggestion really work? Is it just psychology?
Answer: Yes, auto-suggestion is a proven psychological technique. It is not willpower or magic; it is a process of programming your subconscious mind. By repeating the same goal and belief day after day, your brain starts to seek out the necessary opportunities and take action to achieve that goal.

3. How do I form a Mastermind group?
Answer: Find 3 to 5 like-minded individuals who will help you achieve your goal. They could include someone with business experience or someone with more financial knowledge than you. Meet once a week to discuss specific goals and maintain harmony and trust with each other.

4. What is the safest investment in the context of Bangladesh?
Answer: Generally, Savings Certificates or Fixed Deposit Receipts (FDR) are considered the safest investments in Bangladesh, although the return may be low due to inflation. For long-term and higher returns, you should increase your financial literacy and invest in good mutual funds or strategically in real estate.

5. How can I view failure positively?
Answer: View failure as a learning opportunity. After each failure, ask yourself: "What went wrong here? What can I do to avoid this next time?" Failure proves that you are trying. Stay persistent and move forward by learning from your mistakes.

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