The Millionaire Next Door. . . An Academic EntrepreneurPosted on April 16th, 2013
Two recently published articles caught my attention. And, bear with me, they are related! In the first one, Bob Dudley, the well respected CEO of BP, is quoted: Employment is difficult in many places. But anybody who goes through petroleum engineering, chemical engineering there will be jobs for them. . . . . . . they will have phenomenal opportunities. In past blogs, as well as in Stop Acting Rich, I have mentioned that engineers in general are quite productive in transforming income into wealth. Even more productive are professors who teach petroleum engineering, chemical engineering, mining engineering, etc. The second article deals with...
Bad Economy? Thank You, I Didn't KnowPosted on May 13th, 2010
In the year prior to our economic meltdown, 16 million passenger vehicles were sold in the United States. This year I estimate that less than 12 million will be sold. Certainly this is a serious decline. In spite of this decline, I believe that some people can still make a good living selling cars and a lot of other products. And I'm not the only one who feels this way. Beverly Bishop spent more than 30 years as an extraordinary sales professional. In fact, I profiled Beverly in Millionaire Women Next Door. During her career she sold over $100M worth of motor vehicles. ...
Dan's Journey: 9 Jobs to WealthPosted on January 19th, 2010
Do you ever wonder why the large majority of millionaires have little interest in early retirement? It is more than love of the job. Most, 81% of millionaires, selected their vocation because: My job/career allows me full use of my abilities and aptitudes. It is a whole lot easier to become an economic success if you are well suited to your job. This is why you have to know something about your own aptitudes. Once you do, you can match talent with opportunity. The following case of Dan R. illustrates my point. I met Dan at a focus group of...
Year 'Round Gifts: Clients for LifePosted on December 22nd, 2009
Still looking for that perfect gift for your clients or business associates? Below I describe the ultimate gift for anyone in business. What is the most powerful method of influencing those who influence many other affluent prospects? As a general rule, it is the dimension of networking called "revenue enhancement." Ask most successful business owners, professionals, and other self-employed prospects this simple question: "What is your number one need?" Most will answer, "Revenue enhancement, i.e. more sales, more customers, more clients." Given a choice, would these prospects prefer to patronize a supplier who provides only a core product or service -...
Courage: Required and AdmiredPosted on November 5th, 2009
After giving a presentation to a group of sales and marketing executives, I was approached by a sales manager from the audience. Malcolm told me that, wanting to be a veterinarian, he had started his college career as a zoology major. He didn't do very well in some of the courses, so he changed his major to business- first accounting, then marketing. Upon graduating with a degree in marketing, he applied for sales positions in securities, direct investment, and real estate. I was somewhat surprised as he told me his story because he spoke with a severe stutter. In fact,...
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