After doing a recent seminar in Atchison, Kansas, I had the opportunity to interview the CEO of another company that is succeeding in the current economy.
I spoke with Tim Newkirk, CEO of MGP Ingredients ( He related that MGP produces various types of ingredients for consumer packaged goods companies. It also produces beverage and industrial alcohol.
The company was founded in 1941 and has had it’s headquarters in Atchison, Kansas, for almost 70 years.
Although the company is doing well now, their path to success has not always been smooth. As Tim told me, “Our history has been about change and about reacting to what the exterior world throws at us.”
A couple of years ago the company really hit some hard times. As Tim related, “It was about us still hanging on to some products and some processes from the past and not focusing on the things that were really making money.”
The company at that time almost went broke. When I asked Tim what they did to turn things around, he stated, “It was really pretty straight-forward. We just focused on the things that were making money. And the things that weren’t, we stopped doing them.”
As a result of that effort, what happened at MGP was amazing. “We’ve paid down almost $50 million in debt in the last 18 months,” Tim said, “and we are back to being profitable.”
When I asked Tim about how he kept his attitude going in the right direction during that challenging time, he said: “We had a vision of where we wanted to be and just refused to quit.”
That attitude reminded me of what Napoleon Hill said in his best-selling book “Think and Grow Rich”: Definiteness of Purpose.
What if all of us exhibited the same “definiteness of purpose” that Tim and his management team showed at MGP Ingredients in turning that company around?
Hill instructed readers to write down exactly what you want, write down a specific plan to achieve it, get a picture of the reward, write an affirmation as if the goal is achieved, then read that affirmation the first thing each morning and the last thing each night.
I believe that that formula is the right ingredient to incredible success.

A Definiteness Affirmation
I have identified in writing my most important goal and created a plan to achieve it

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