Review: The Millionaire Next Door by Thomas Stanley and William Danko

Down & Dirty: 4.5 out of 5

An eye-opening revelation of real millionaire habits and lifestyles. Entertaining and informative.

Hey there entrepreneurs.  Would you like a boost to your confidence in the future? Read the Millionaire Next Door.  It goes beyond the press coverage of big-spending millionaires and finds the bulk of them hiding in surprisingly average homes and lives.  If you’ve got hopes of becoming wealthy, why not follow the wisdom of all these ‘regular’ first-generation millionaires?

I’ve heard it said that if you want to be rich, do what rich people do.  No, that doesn’t mean leasing cars, racking up debt and spending spending spending.  In fact, most millionaires, Stanley and Danko discover with shocked surprise, are very normal, down to earth people.

How does this relate to marketing? Well there’s an entire chapter dedicated to selling to the truly affluent rather than the people who spend $5000 on a watch and then go bankrupt.  The book delves into all the needs and growing concerns of the nation’s millionaires and why you should be focusing on them instead of the high spenders.  (They’re something of a ‘bubble’ group as we’re seeing with the current debt crisis.)

I enjoyed re-reading this book and took away more the second time than I did the first time. I was really worried this book was going to be stuffy and boring but the astounding stories and ‘What if” scenarios keep me engaged nearly the entire time.

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