THE TEMPLETON PLAN
THE
TEMPLETON
PLAN
21 Steps to Success and Happiness
SIR JOHN TEMPLETON
WITH JAMES ELLISON
TEMPLETON PRESS
Templeton Press
300 Conshohocken State Road, Suite 500
West Conshohocken, PA 19428
www.templetonpress.org
2013 Templeton Press Edition
A Giniger Book
First copyrighted © 1987 by Kindness, N.V.
Copyright renewed © 1996 by Templeton Press
Designed and typeset by Gopa & Ted2, Inc.
All rights reserved. No part of this book may be used or reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the written permission of Templeton Press.
Library of Congress Cataloging-in-Publication Data on file.
ISBN 978-159947-432-8 (e-book)
Printed in the United States of America
13 14 15 16 17 18 10 9 8 7 6 5 4 3 2 1
For Irene, whose deep spirituality and natural beauty
of character are ever a source of joy to me.
Sir JOHN TEMPLETON
CONTENTS
Foreword by Sir John Templeton
Introduction by James Ellison
STEP 1 Learning the Laws of Life
STEP 2 Using What You Have
STEP 3 Helping Yourself by Helping Others
STEP 4 Putting First Things First
STEP 5 Achieving Happiness by What You Do
STEP 6 Finding the Positive in Every Negative
STEP 7 Investing Yourself in Your Work
STEP 8 Creating Your Own Luck
STEP 9 Utilizing Two Principles of Success
STEP 10 Making Time Your Servant
STEP 11 Giving the Extra Ounce
STEP 12 Conserving Your Resources to Best Advantage
STEP 13 Progressing Onwards and Upwards
STEP 14 Controlling Your Thoughts for Effective Action
STEP 15 Loving as the Essential Ingredient
STEP 16 Maximizing the Power of Your Faith
STEP 17 Receiving Strength through Prayer
STEP 18 Giving as a Way of Life
STEP 19 Winning through Humility
STEP 20 Discovering New Frontiers
STEP 21 Seeking Solutions
Summing Up the Templeton Plan
FOREWORD
THE TEMPLETON PLAN came into being out of my concern that no book had created a set of rules to help readers increase their quotient of happiness and prosperity. I know that my life would have been more useful and fulfilled had I learned at an earlier age the principles described here. The twenty-one steps of The Templeton Plan could have provided me and others of my generation with clearer guide-posts to success.
James Ellison relates lucidly the ideas and experiences I shared with him in the course of many interviews. During my seventy-four years I have made my share of mistakes, but Mr. Ellison thought it best to stress those experiences and thoughts from which the reader may derive a useful lesson. To overcome the problems that each one of us faces—and no life is problem-free—it is crucial to have a plan to live by.
The plan this book suggests is by no means complete. Many principles for a happy and successful existence—what you might call the “laws of life”—are not included because I have not yet learned them. The Templeton Plan is written for those who consider themselves students in the school of total success. Each student should study the twenty-one steps included here and then try to add to them. Nothing can be more beneficial for your spiritual growth than to put down in writing what you believe are the most important laws for happiness, usefulness, and success.
I am convinced that the basic principles for happiness and success can be examined, tested, and agreed upon so that the best ones can be combined into textbooks for teaching in schools. No subject in the curriculum would seem more important than one that can help us fulfill our potential as human beings.
It is my vision that more and more people worldwide will lead lives of happiness, usefulness, and prosperity if we work continuously toward spiritual growth and better understanding of the virtues by which we should govern ourselves. And it is my hope that not only each of us but also our children and grandchildren will one day benefit from reading this book.
Sir John Templeton
INTRODUCTION
JOHN MARKS TEMPLETON, regarded by Wall Street as one of the world’s wisest investors, is the founder of the Templeton mutual fund group, which now manages more than $6 billion owned by more than 500,000 public investors. He started his investment career on a borrowed $10,000 and thus is a living embarrassment to the efficient market theory, which holds that you cannot start from nothing and end up with a large fortune in a single lifetime.
Forbes magazine has dubbed him “one of the handful of true investment greats in a field crowded with mediocrity and bloated reputations.” Templeton believes that successful investing is a product of a person’s overall relationship to life and to the universe. Unlike most people, he is at peace with himself. He has sorted the important questions out. He believes that God created and is continuously creating the universe.
While many people hold that financial success is separate from religious belief, that in fact there is a conflict between the two, it is John Templeton’s conviction that the two are related. He contends that the most successful people are often the most religiously motivated. They are likely to have the keenest understanding of the importance of ethics in business. They can be trusted to give full measure and not cheat their customers.
In trying to appraise the value of a corporation, which is the heart of selecting investment bargains, nothing is more important than the quality of the management. Each year, Templeton and his associates study hundreds of corporations to determine which ones offer the best opportunities for their clients. They have found that the common denominator connecting successful people and successful enterprises is a devotion to ethical and spiritual principles.
When John Templeton first became a trustee at the Princeton Theological Seminary thirty-six years ago, there was another trustee named John J. Newberry. As a young man, Newberry had worked for F. W. Woolworth. When he left to open his first J. J. Newberry store, he instituted the practice of daily prayer meetings. Newberry hired people who wanted to open each working day with prayer. Throughout the day, they usually did a better job for customers because they began with a better attitude. The Newberry chain spread rapidly until it included hundreds of stores.
For John Templeton there is no special magic in this remarkable success story. He is convinced that you can credit a significant part of Newberry’s success to the prayer meetings with which he opened each store each morning.
J. C. Penney, a devout Christian, built up one of the largest retail organizations in the world, based squarely on the principles of brotherhood and a belief in God. Sam Walton, the originator of Wal-Mart stores in Arkansas and a fabulous Wall Street success story, was another who founded his business on Christian attitudes with both customers and employees. No other retail organization over the past thirty years could rival Wal-Mart’s steady and consistent growth.
At Templeton, all of the directors’ and shareholders’ meetings open with prayer. But prayer is never used as an aid in making specific stock selections. “That would be a gross misinterpretation of God’s methods,” Templeton says. “What we do pray for is wisdom. We pray that the decisions we make today will be wise decisions and that our talks about different stocks will be wise talks. Of course, our discussions and decisions are fall
ible and sometimes flawed. No one should expect that, just because he begins with prayer, every decision he makes is going to be profitable. However, I do believe that, if you pray, you will make fewer stupid mistakes.”
Tales of the Templeton wizardry are often told in dollar-growth figures. For example, where would you be today if you had put $10,000 into his first mutual fund in 1954? Your investment, including reinvestment distributions, would have grown to more than $800,000 by 1987! That’s how successful the Templeton technique has been over a thirty-two-year period.
And to what does Templeton credit this remarkable growth? “Backed by our beliefs,” he says, “we’re not so uptight and on edge as those who are in the business merely to make money. We start each day by setting our minds on the important things and praying. All our transactions are influenced by that.
“There are businesses that apply the un-Christian principle. They ignore the human factor. They lack the wholehearted desire to offer better service and higher quality at lower prices. More often than not, those businesses fail. In general, people who take advantage in their dealings will get a bad reputation and before long others will not want to deal with them.
“That greed and callousness are shortsighted business methods is a crucial lesson for us all to absorb. Learning it will spell success. You should always care about your customer. You should treat your employee as you want to be treated. If you follow those precepts, which are rooted in religion, financial success is likely to follow.”
The purpose of The Templeton Plan is to reveal the vital connections between belief in religious principles and belief in oneself that will enable you to become a successful and happy person. Through Templeton’s twenty-one-step program that follows, you will learn how the person who lives by God’s principles is the same person who will succeed in life, making lasting friendships and most likely reaping significant financial rewards.
It is suggested that you devote yourself to one step each day, over a period of three weeks. Each step should be studied carefully until the following questions can be answered in a satisfactory and thorough manner:
What do these ideas really mean?
How do they apply to my own life?
How can I use their meaning in achieving success?
The Templeton Plan: 21 Steps to Success and Happiness has worked for many people—for John Templeton himself and for others. There is no reason that it cannot work for you.
James Ellison, 1987
THE TEMPLETON PLAN
STEP 1
LEARNING THE LAWS OF LIFE
THE WORLD OPERATES on spiritual principles, just as it does on the laws of physics and gravity. These principles, or laws, are as important for our welfare as stopping for a red light at a busy intersection. Our inner life is saved or lost to the extent that we obey or disobey the laws of life.
These laws are the underpinning of The Templeton Plan. We will examine them now, at the start, so that we can have a clear idea of our direction. Just as a baby learns to walk by taking one step at a time, so we will look at the laws of life one at a time to assess the ground that will be covered in our twenty-one steps.
Truthfulness is a law of life. In the farming community where John Templeton grew up, there was a general saying that your word was your bond. People of character would never promise something and then go back on their word. A contract between two parties did not have to be put into writing; there was no need for a court or a judge to enforce it. Civilization, as it was then perceived by many, was a place where the handshake was sacred.
Reliability is a law of life. The shopkeeper or professional who prospers today is the one whose word you can depend on. If he says he will have a certain product available for you Tuesday afternoon, he will have it Tuesday afternoon. If she tells you the product is genuine leather, you can rest assured that genuine leather is what you’ll get.
Faithfulness is a law of life. You expect people not to cheat you or put themselves ahead of you. Faithfulness means that they will be faithful to their trust. You can rely on them not to cut corners or try to deceive you.
Perseverance is a law of life. You will always give your business and your trust to those who will see a project through even if difficulties arise—and they usually do. In everything we do, there are problems to solve, and the person who gives up or turns to an easier task is not the kind of person who will find success.
Thirty-six years ago, John Templeton helped to found the Young Presidents’ Organization, a worldwide club. Each of the thousands of members, though they come from a wide range of cultural and economic backgrounds, before age forty became president of a company employing over a hundred people. What do these men and women have in common? “Perseverance,” Templeton explains. “When they undertake to accomplish something, they accomplish it. The program may change along the way, but they don’t give up.”
Enthusiasm is a law of life. To be a success you must work at a task with your whole heart. Enthusiasm is contagious. You can infect your suppliers and customers with it.
Energy is a law of life. Successful, deeply fulfilled people have a high degree of energy. They are not lazy, nor do they spend much time on idle matters. They are constantly trying new things, experimenting, searching for a cheaper method of production or for ways to improve the quality of a product.
Humility is a law of life. The young should welcome, not ignore, the advice and experience of their teachers and parents. The majority of parents discipline their children because they love them and want the best for them. For children to rebel against their teachers and parents flies in the face of the simplest common sense. The teacher is in school to help students; students should be humble enough to realize that the teacher knows more than they do. Through a humble approach to life, the successful person will learn at an early age to profit from the knowledge of parents and teachers.
Pleasing others is a law of life. Now, of course, it’s impossible to please everyone, but we will be more productive and successful if we try. That means pleasing your colleagues, pleasing your clients and customers. The concept of giving pleasure to others is having a healthy new influence on the business world. There are now dozens of service clubs where businesspeople gather as equals once a week to discuss mutual concerns—the Rotary and Kiwanis clubs, among others. As an old Oriental proverb has it, “If you wish your merit to be known, acknowledge that of other people.”
Giving is a law of life. Successful people give and give still more; their giving is returned to them in full measure. Watch the top people in business. They are the ones who give more than is expected of them. In return, they receive the rewards. They attract the customers. Their giving leads ultimately to success, both in worldly and spiritual terms.
John Templeton serves on the board of corporators of the oldest corporation in the United States, the Presbyterian Ministers’ Fund. It is a life insurance company that insures the lives of ministers of all faiths. The company seal carries a drawing of the sower. The Presbyterian Fund has enjoyed considerable success for more than two centuries. They have given their policyholders more insurance for a lower price than other companies. And their representatives, who are usually Christian ministers, never fail to explain to prospective clients that the fund is founded on the concept that as you sow, so shall you reap.
Learning from others is a law of life. As a child, John Templeton used to observe his schoolmates as well as the adults with whom he came in contact. He watched the farmers in the country. He learned from each of them which things led to success, happiness, and productivity and which did not. He learned what to emulate as well as what to avoid. Most important, he learned to assimilate the wisdom of many lives. You can do the same. If you’re alert, it is possible to learn from each person you meet, to avoid mistakes, and to put new virtues into practice.
Joy is a law of life. John Templeton names as the most joyful group of people he has ever met the young women studying to be members of the society of Mot
her Teresa. He observed that their happiness had an almost visible glow, and it had nothing to do with self-indulgence. They were happy because of the opportunity to serve.
While Templeton was attending the twenty-fifth anniversary of Mother Teresa’s order, the Missionaries of Charity, in Calcutta, a young novice approached Mother Teresa and in an overjoyed manner cried out, “Mother, for six hours I’ve been handling the body of Christ!” She meant that she had found a man in the street whose condition was so bad that it took her six hours to get him cleaned up, comfortable, and in bed. She felt that Christ had come to her in the form of that man. What a joy it was that she could be useful, that she was in a position to help Christ when he came to her in need. Success need not necessarily take a financial form. But real success can never be achieved without the element of usefulness, of serving.
Altruism is a law of life. The altruistic person tries to make our world a better place to live in. There are medical researchers who have improved our lot by discovering penicillin or insulin. Every person—each in his or her own way—can make the world a better place. Those who search for success and happiness will find a way. One man makes the world a better place by developing his farm with more modern agricultural methods. Another man, a widower, raises his six children on his own. They love him so much that, when they marry, they live near home so that the family needn’t split apart. That man made the world a better place by loving his six children. They had the benefit and warmth of his love, and that is a form of riches that is always passed on.
The altruist discovers an individual way to make the world a better place than it was before. It may be because he writes a book. Or because she paints a picture. Or because he rears his children with intelligence and compassion. Or because she invents a new cooking recipe. Or because his life serves as a shining light for others. There are large and small ways to make the world a better place, and all the paths, as different as they may be, lead to success.
The Templeton Plan Page 1