Acres of Diamonds by Russell Herman Conwell

Russell was born on 15 February 1843 and died on 06 December 1925. He was an American Baptist minister, orator, philanthropist, lawyer, and writer. He is best known as the founder of Temple University and a Pastor of the Grace Baptist Church.

Conwell opens this lovely little book with a tale about Ali Hafed,

a Persian who sought to find diamonds and, therefore, accumulate great wealth for himself and his family. Ali sold his farm and sailed off to foreign lands in search of great wealth. He travelled far and wide - from Asia to Europe - from pillar to post - without much luck. He lost all the money he had, all his food and his clothes, and he eventually lost his life in the pursuit of wealth in strange and foreign lands.

Back home, however, on the very same farm Ali Hafed had sold,

a massive diamond was discovered by Ali's successor.

Soon afterwards, many more diamonds were discovered on Ali’s farm.  These discoveries turned Ali’s successor into a multimillionaire.

The moral of this little tale - and the book, Acres of Diamonds - is that you have everything you need to become all you dream of becoming right at your disposal. You just need to be wise enough to search in your own backyard before you sail off to distant lands chasing something that is readily available right where you are.

Look first within yourself before you turn to the outside.

As the popular saying goes, “What lies ahead of us and what lies behind us are tiny matters compared to what lies within us.”

If you want things to change for the better in your life,

YOU must first change for the better.

If the way you conduct your business is flawed, there’s a good chance that your business will not survive very long.

Conwell says you must take a keen interest in the affairs of your customers, care for them personally - don’t just chase their money without regard for their personal circumstances and wellbeing.

Conwell also points out that money is power because it provides

us with the ability to do good deeds for humankind. He says it is honorable for a young man to be reasonably ambitious and seek

to obtain for himself a good fortune.  One with money can do more good in the world than one without it.

Integrity is another important characteristic Conwell talks about in Acres of Diamonds. To thine own self be true. “You cannot trust a man with your money who cannot take care of his own,” he says. Honesty is crucial to your success. Be true to yourself, first

and foremost, and demand just rewards for your labor.

In return for your rewards, you bear the responsibility to provide

a valuable product or service to your respective community.

Conwell recognizes a common mistaken belief held by wannabe entrepreneurs.  It is the curse of capital investment. You don't need massive capital and a master’s degree to start a successful enterprise. “What you need is common sense – not copper cents,” Conwell says. 

Common sense also means you don’t need to have a varsity education to be a great businessperson; you just need intent observation and a little imagination.  Couple that with immense discipline and a burning desire to succeed and you will be on the right track to achieve your dreams.

Before you go into business, you must first assess the demand,

and then supply the market with the products they want.

Invest only in what people need and want, not what you want them to buy. You will make a lot more money selling solutions

to an actual problem that actually exists in the market,

instead of an imaginary problem that exists only in your mind.

In determining people’s needs, it’s wise to start by scratching your own itch. What problems are you facing in your own family or neighborhood, to which if you found the solution, you could sell

the solution at a handsome profit? The problems you face in your ‘Philadelphia’, as Conwell puts it, are probably the same issues affecting neighboring communities.

The internet has turned the entire world into a single community,

so you have no excuse. And the rapid increase of online businesses and internet millionaires is proof enough that financial freedom is possible for anyone willing to put in the effort required to profit from the digital marketplace.

Conwell gives examples of entrepreneurs in his time who followed the principle of scratching their own itch and made fortunes. More contemporary examples of scratching your own itch can be found in Jason Fried & David Heinemeier Hansson’s magnificent book, REWORK.

You don't need to be an extraordinary person with superhuman powers to succeed. The truly great men are all ordinary folks with no special endowment that any one person cannot attain if he truly sets his mind to it.  Read “The Millionaire Next Door” to find out more about this philosophy.

What's most important, though, is that you need to BELIEVE that you can do things for yourself and do them well. Start now, where you are, with what you have, and work your way to greatness. Do not wait for some future event or a wave of good luck to sweep over you.  If you choose to wait, you may have to wait your entire life. Start taking the baby steps required to become what you want to be.

I fully concur with the message or moral of this book.  I have found it to be especially true in my own country, South Africa, where unemployment is so high and the residents are always protesting about the lack of jobs, opportunity, basic services, etc.  We have an influx of foreign nationals who come into the country and make things happen and prosper under the same conditions we complain about.

In my opinion, this is proof that there is an abundance of opportunity everywhere.  We are just too blind or too entitled to see it and take advantage of it.  We think certain jobs are beneath us, and we refuse to do them.

Unless I'm missing something...

This is one cause of our suffering.  We are too eager to point fingers at other people and blame circumstances for our own inadequacies. And we are too frightened or stubborn to make the change within ourselves in order to create better circumstances for ourselves

and future generations.

Having said that, though, I don’t think we should be exploited just because our country is in a mess and our government doesn’t care about making improvements. We deserve to be justly rewarded for our labor. But again, the onus is on us to make the changes we want to see. If we keep pointing fingers at the government and the foreigners, we give them the power. We need to take back the power and participate in our own salvation. Do we think of ourselves as inadequate? Then why can't we rescue ourselves? Why can't we start our own businesses and empower each other?

Conwell stresses the importance of looking within yourself before you look to the outside world.  Your destiny is in your own hands.  You have Acres of Diamonds in your own backyard. 

Start digging for your fortune right where you are,

with what you have.  Prosperity is just waiting for you

to stretch out your hand and claim it.