PKF O'Connor Davies Accountants and Advisors
PKF O'Connor Davies Accountants and Advisors
Insights

Legitimacy: The Fuel Behind Success

By James Weiner, Psy.D., The Quest for Legitimacy

Think and Grow Rich! (1937) The author of this book, Napoleon Hill, wanted to capture your attention. This alluring title appeals to those who hunger for something more from life. Hill is credited with creating the Personal Success genre. His teachings had a direct influence on thousands and continue to be offered in online courses. Financial success was the appeal.

Influenced by his alleged relationship with Andrew Carnegie — a Scottish industrialist, philanthropist and one of the wealthiest men in the world — Hill sought a formula for the accumulation of financial wealth. He focused on the power of the mind, rising from poverty and good old timing.

The Power of the Mind

“All the breaks you need in life wait within your imagination…. Imagination is the workshop of your mind capable of turning mind energy into accomplishments and wealth.”  

~ The website of The Napoleon Hill Foundation

Rising from Poverty

Hill was born in 1883 in a one-room cabin in Appalachian Virginia, with his family’s poverty being a powerful motivator for his desire to rise above.

Timing

Timing also played an important part in Hill’s life story. Hill was born in the aftermath of the now famous 1918 global pandemic and the 1929 stock market crash that ushered in the great depression. In an unpredictable atmosphere, Hill sought a way to a better life. Both historical and personal chaos, i.e. escaping persecution, poverty and challenging family dynamics, are often the back story for those driven to build success, including Hill.

Comparing Hill (Then) and Robbins (Now)

Anthony Robbins is a modern-day motivational speaker, coach and self-help author. Participants in his workshops walk across coals as tangible proof of the mind’s power. While Robbins offers a more holistic perspective to personal development, he weaves riches into his definition of success, as did Napoleon Hill.

Success vs Wealth vs Prominence

Accumulating wealth, while desired, is not an essential part of being accomplished.

Success typically refers to the achievement of a desired aim or outcome. Measured by reaching specific goals, fulfilling aspirations or attaining a certain level of accomplishments, success is subjective. Having a fulfilling career, a loving family or a strong sense of personal growth and fulfillment are often measures of a desired outcome.

Prominence is when one’s stature in the eyes of others is elevated because of one’s accomplishments. Wealth is not required.

In many cases, prominence and affluence co-exist. The millionaire next door and those who have family offices need to manage transitions, inheritances and family conflict, as well as the day-to-day challenges of managing assets. Focusing on the growth and preservation of financial capital is essential. The impact of prominence rests in the background.

Legitimacy: In Search of a Better Paradigm?

Until recently, fear dominated the conversation about wealth. Entitled youth was the mantra. Afraid that future generations would dissipate what took years to acquire, planning included protecting the wealth even from those born into the family. The awareness that family members are likely to be the future owners or inheritors meant a major shift in focus. Preparation and education, including leadership training, are best practices for families today.

Finding Internal Legitimacy in the Shadows of Prominence

Isolation, a common characteristic for those born in prominent families, is not being addressed. High expectations, social pressure and lack of familial connection are common challenges. When rising gen are gathered, discussions emerge about the impact of being in the shadow of prominence. These conversations are a byproduct of efforts to prepare future generations. They need to be the focus.

Founders build something tangible; their external legitimacy is assumed. The story of how they rose to prominence — their quest — is hidden in the background.

For those raised in the shadow, striving for an internal sense of legitimacy includes the desire to:

  • Feel justified in one’s actions without the need for external approval.
  • Develop an alignment with personal values and ethical beliefs.
  • Accept and fully embrace one’s role, feeling you legitimately belonged in it.
  • Possess a strong sense of moral integrity and responsibility.
  • Find that internal beliefs are consistent with one’s behavior.

With these attributes, the emerging generation gains a sense of agency. Ownership means finding their own place in the world. Stumbling along the way is taken for granted. Having a voice is a prerequisite to define their own success.

In collaboration with Russ Haworth and researchers from The University of Adelaide, we uncovered the importance of focusing on internal legitimacy.

Asking, “What is it like growing up in the land of giants,” to 25 rising gens, revealed a path, a quest, with a common aim. Breaking moments, experiences that require facing challenges, became the steppingstones. Taking ownership of one’s life was the focus.

Bringing the experience to life in a program at Oxford, England, participants from four continents engaged in exploration while in a company of peers. Utilizing lessons from the research, each member of the cohort explored their paths to taking ownership.

Surpassing Prominence with Integrity

It shouldn’t surprise you that Napoleon Hill’s checkered past tarnished his reputation. Doubts about whether he really knew Andrew Carnegie … well that’s minor. A background of fraud and financial insolvency is more troubling, given the type of advice he was giving to others. Reports of abusing his second wife: simply unacceptable.

The point is that internal legitimacy does not come without effort and an intentional quest to live a purposeful life with integrity. Remember, legitimacy and success are powerful partners. Making thoughtful decisions about a family business, investments or efforts to give back can enhance the external legitimacy of a family. Allowing for individual growth of family members builds character. An internal sense of legitimacy fuels growth.

Contact Us

If you have any questions, please contact your PKF O’Connor Davies client service team or:

James Weiner, Psy.D.
The Quest for Legitimacy
Jamie@questforlegitimacy.com

 

About the Author and The Quest for Legitimacy

The Quest for Legitimacy is a personal-development program, resulting from global research led by the author, clinical psychologist Dr. Jamie Weiner and family business adviser, Russ Haworth. 

Their research sought to understand the lived experience of those growing up in the Land of Giants. The conversations that resulted uncovered shared experiences, obstacles and aspirations. 

The Quest for Legitimacy provides a path to follow throughout your life to pursue your purpose and meaningfully contribute to your family and the world around you. You can find out more about their work here.