Want to Live Next Door to a Pro Athlete?Posted on October 17th, 2012
I was reminded of the following case study after reading an article recently published in The Wall Street Journal about football coaches and their expensive homes. Will and Helen sold their business just before the current economic meltdown. They received top dollar for their more than 25-year-old business. Up until then the couple lived the millionaire next door lifestyle in a nondescript 3-bedroom home. The home was dated to say the least. So Will and Helen decided to "treat" themselves to a new one. They placed a deposit on a 1 acre lot in an upscale development. The couple did this in anticipation of...
Are Toll Collectors on Your Prospect List?Posted on July 10th, 2012
RE: Toll Collectors on the George Washington Bridge According to the Wall Street Journal, . . . some toll collectors make more than $100,000 [annually with overtime] This is the equivalent of more than two and one half times what the typical American worker earns. But toll collectors are not the only blue collar high income producers in America, not by a long shot. Based upon my research cited in my first book, Marketing to the Affluent: One of my favorite blue collar [affluent occupations] is that of materials handler. [Materials handling-supervisors, handlers, including crane operators and laborers]. As a side note, captains/officers of...
Hallmark of The Millionaire Next Door: A Supportive SpousePosted on June 26th, 2012
In Networking with the Affluent I emphasized that helping others should be part of your business plan. Good deeds are often rewarded many times over. People see you at your best when you contribute your time and money. The following letter from Mr. J.F. demonstrates both his marketing genius and the fact that he is a supportive spouse. His wife is a dematologist whose business has been hit hard by the recession. Most of her patients are women who make aesthetic purchases. But Mr. J.F. writes that his wife "won't be participating in this recession [any longer]." The local fancy-pants country club had its end of the...
Enhance Your Image by Writing ArticlesPosted on March 29th, 2012
Medical Economics is one of the most respected periodicals read by physicians. I was honored to have several of my articles about physicians and how they rank among high income producers in terms of accumulating wealth published in that journal. And the demand for my books has greatly benefitted from the exposure. You may recall the profile of Dr. North in The Millionaire Next Door. His words of wisdom about accumulating wealth covered about eight percent of the entire manuscript. How did I find Dr. North? Actually he found me after reading one of my articles in Medical Economics. I have often said that one...
Marketing to the Affluent in Small TownsPosted on March 8th, 2012
In Stop Acting Rich, I mentioned that many farmers are wealthy because they adhere to the basic rule for building wealth: whatever your income is, live below your means. In spite of being an affluent segment, it receives very little press coverage. I also briefly profiled a company that was one of my first clients in the investment industry. Initially, it operated only in the Midwest, and its wealthiest clients were farmers. Today it has offices throughout America. A typical office was staffed by one registered representative and one assistant. At the time, all of the company's offices were strategically located in small towns. ...
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