Big 5 Key Lessons & Habits: The Magic Of Thinking Big (It Will Change Your Life)

Big 5 Key Lessons & Habits: The Magic Of Thinking Big (It Will Change Your Life)

In this article, you will go on a journey of self-discovery and transformation where embracing big ideas, essential habits, and life-changing lessons can redefine your path to success. In the realm of personal growth and achievement, few books have made an impact quite like David Schwartz’s “The Magic of Thinking Big.” This book is more than just a collection of ideas; it’s a blueprint for expanding your mindset and unlocking your full potential.

Whether you’re navigating the challenging career landscape, carving a niche in the business world, or simply seeking to enhance your personal and professional life, the insights from this book are invaluable. Let’s dive into the key lessons and habits that can transform your approach to life’s challenges and opportunities.

Here are the Big Five Key Lessons and Habits from the Book:

  1. Believe You Can Succeed and You Will: The core idea is about cultivating a mindset of confidence. Schwartz emphasizes that success starts with believing in yourself and your abilities.
  2. Cure Yourself of Excusitis, the Failure Disease: This refers to the habit of making excuses. The book suggests overcoming this by focusing on reasons to succeed rather than excuses for potential failure.
  3. Build Confidence and Destroy Fear: Fear is often a significant barrier to success. The book advises tackling fears through action and building confidence through small victories.
  4. Think and Dream Creatively: Innovation and success often come from thinking outside the box. Schwartz encourages nurturing creativity and not limiting your thoughts to conventional ideas.
  5. Turn Defeat into Victory: Learn from failures and setbacks instead of being discouraged by them. The book teaches that every adverse event or loss contains a seed of an equal or more significant benefit.

These lessons are about mindset shifts and repeatable habits that can lead to tremendous success in personal and professional life. They align well with entrepreneurial and career journeys, especially in business, investing, and trading.

Keep reading for a deep dive into each of these lessons that you can use to develop life-changing habits.

Lesson 1: The Transformative Power of Believing in Success

“Whether you think you can, or you think you can’t – you’re right,” – Henry Ford

The first monumental lesson is about the power of belief. Our beliefs shape our actions, and our efforts shape our outcomes. The book emphasizes that success starts in the mind. If you believe you can succeed, you’re setting the stage for actual achievements. Think of any successful person you know or have read about. What sets them apart? Often, it’s their unwavering belief in their vision, even when others doubt them. This lesson isn’t just about unquestioning optimism but cultivating a mindset that sees possibilities where others see obstacles.

Lesson 2: Overcoming Excusitis – The Barrier to Achievement

‘Excusitis’ is essentially the habit of making excuses, and it’s a significant barrier to success. We’ve all heard (and perhaps used) common reasons: insufficient time, resources, or the right background. The Magic of Thinking Big teaches us to shift our focus from excuses to opportunities. The key is accountability. When you stop making excuses, you take responsibility for your actions and their outcomes. This shift is empowering. It moves you from a passive state, where things happen to you, to an active state, where you make things happen.

Lesson 3: Building Confidence to Conquer Fear

Fear is a natural emotion but can be a significant barrier to success. Schwartz argues that confidence is the antidote to fear. Building confidence isn’t an overnight process; it involves stepping out of your comfort zone, taking on new challenges, and celebrating small victories. Each time you face a fear and overcome it, your confidence grows. This lesson is particularly relevant in high-stakes environments like investing, where fear can lead to hesitation or rash decisions. By building confidence, you’re better equipped to handle these pressures.

Lesson 4: Unleashing Creativity for Innovative Thinking

Innovation and success often come from thinking outside the box. Schwartz encourages nurturing creativity, not confining your thoughts to conventional ideas. This is where groundbreaking ideas and solutions are born. In the world of entrepreneurship, imagination sets you apart from the competition. It’s about seeing connections where others don’t, finding new ways to solve problems, and being unafraid to try something new. Cultivating a creative mindset can have a profound impact on both your personal and professional life.

Lesson 5: Turning Setbacks into Stepping Stones

Every adverse event or loss contains a seed of an equal or more significant benefit. This lesson teaches us to view setbacks not as insurmountable obstacles but as opportunities for growth and learning. Analyzing failures, understanding what went wrong, and how to avoid similar mistakes in the future is crucial. Remember, many successful people have a history of losses, but what sets them apart is their ability to turn them into lessons and stepping stones to success.

Applying the Big 5 Lessons in Everyday Life

Incorporating these lessons into your daily life can be transformative. Set aside time daily to reflect on your goals and their supporting beliefs. Challenge yourself regularly to step out of your comfort zone, whether trying a new business strategy or experimenting with a different investing strategy. Cultivate creativity by exposing yourself to new ideas and perspectives. And most importantly, when faced with setbacks, take a step back, analyze, and learn from them.

Key Takeaways

  • Embrace Self-Confidence: Cultivate a strong belief in your potential to pave the way for achievements.
  • Reject Excuse-Making: Shift from justifying failures to embracing responsibility for your actions.
  • Foster Courage through Self-Assurance: Gradually build courage by facing and overcoming fears.
  • Nurture Innovative Thought: Break free from traditional thinking patterns to spark original ideas and solutions.
  • Transform Obstacles into Opportunities: Learn from every setback, using these experiences as catalysts for growth and improvement.

How ‘The Magic of Thinking Big’ Can Revolutionize Your Life

“The Magic of Thinking Big” offers more than just lessons; it provides a mindset that can lead to life-changing success. You can transform your personal and professional life when you believe in your ability to succeed, overcome the habit of making excuses, build confidence, think creatively, and learn from setbacks. As you apply these lessons, remember that the journey to success is ongoing and constantly evolving. Embrace it, and watch how your life changes for the better.


Exploring “The Magic of Thinking Big” offers a roadmap to a more fulfilled and successful life. Adopting a mindset of possibility, accountability, bravery, originality, and resilience can dramatically alter your personal and professional trajectory. These principles aren’t just theories but practical tools for anyone aspiring to elevate their life. Implementing these strategies can lead to profound changes, opening doors to new opportunities and paving the way for genuine success.