The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko
The Millionaire Next Door describes the characteristics and statistics surrounding our nation’s millionaires. Surprisingly, those individuals are not the highest earners because, statistically, the highest earners are also high spenders. Millionaire teaches us that becoming a millionaire is more a matter of spending control than earning potential.
This fact resonated with me in a broad sense. I have used its “slow and steady,” “tortoise and hare” approach in many of the management, leadership, and business development activities with which I have been involved. Instant answers, quick fixes, and traditional thinking rarely deliver the best results. Instead, consistent effort, flexible planning, and a long-term horizon are all key to success.