When I read this book, I felt like it was a
sequel to The Millionaire Next Door.
This book:
The New Elite: Inside the Minds of the Truly Wealthy
What I felt was the Prequel:
The Millionaire Next Door: The Surprising Secrets of America's Wealthy
There was a brief history lesson on the rich,
wealth creation, and how that dynamic has shifted over the past few hundred
years. This helps provide a benchmark of
how the wealthy are different than what we envision them as. from even just a
few decades ago.
Findings from this book seem a bit more complex
and in depth than compared with The Millionaire Next Door. However, the results seem to be similar – We
all can be rich if we just work smart, work hard, and have a bit of luck. Own it, and make it happen. Probably a lot easier said than done though!
Good thing about this book is, it isn’t a how to
get rich book. What I liked is it sheds
a different light on selling, marketing, and advertising. The proposed newer system seems more in line
with the newer consumer mindset. To see
this unfold over the past 10 years with eCommerce and social media taking off
has been interesting.
Instead of focusing on just the successes, a lot
of depth looks into the psycho-dynamics that go into different types of rich
people. Instead of reading those
generalized articles online on “The 10 habits Rich People Have” or always quoting Bill Gates / Warren
Buffet…etc. This book captures a wider group
of people in their study and then extrapolates the different clusters of the
rich-mindset.
The two take-aways for me were:
- There is a new niche market of very rich people that is exponentially increasing in size. Sell to them.
- Many more are becoming like them. Join them.
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