Covey argues that for us to change the world, we must first change ourselves. We must face our fears and achieve a private victory if we are ever going to reach our potential and achieve a public victory. Covey remembers when he was a sophomore at Brigham Young University with high hopes of being a starting quarterback. Without a deep commitment to the game, he struggled on the field until he finally committed to devoting the time and energy needed. No one but him ever knew about this commitment, but this private decision translated into a public victory when he was named “ESPN Player of the Game” (33). He shares that story to show the power of confronting oneself and taking the initiative to create success.

Covey then develops the metaphor of the personal bank account: “How you feel about yourself is like a bank account […]. Just like a checking or savings account at a bank, you can make deposits into and take withdrawals from your PBA by the things you think, say and do” (34). He defines “deposits” as those actions that build your reserve of self-esteem, such as: “Keep promises to yourself,” “Do small acts of kindness,” “Be gentle with yourself,” “Be honest,” “Renew yourself,” and “Magnify your talents” (36).