Success Advice
4 Habits Of The Highly Successful Business Owner Next Door!

Author Thomas J Stanley has been examining the super rich for years, his book “The Millionaire Next Door,” became a New York Times bestseller. Dr. Stanley’s main thesis is that the rich live within their means while the wannabe-rich use status symbols (BMWs, Rolexes, Grey Goose vodka) to try to transplant themselves from one economic class to another without doing the hard work of actually earning a place among the super-rich. A couple years back, Thomas released “Stop Acting Rich . . . and Start Living Like a Real Millionaire”. How do you become a millionaire entrepreneur? It may not be quite the way you think. Taken from the theories of Thomas J Stanleys here are 4 habits (I’m sure there are more) to build a business like a millionaire:
Habits Of The Rich Neighbour Next Door
1. Choose a boring industry
I have found that the most profitable businesses are in the least sexy business categories. The scrap metal dealer or the heating and air conditioning company with the grubby vans is likely more profitable than your advertising agency or craft brewery. Generally speaking, businesses that sell to other businesses grow faster than business-to-consumer companies.
A good part of the reason boring industries are more profitable is a simple fact of supply and demand: Fewer people want to make plumbing gaskets than bake cupcakes. Pick your industry wisely.
2. Create a two-color logo
Back in 1995, I started my first business and was convinced I needed a four-color logo. By the time I printed business cards, envelopes, invoices and some basic marketing materials, I had blown through thousands of precious startup dollars. Every time I hired a new employee, I couldn’t use a basic quick-copy center to get his or her business cards. Instead, I had to send the cards off to a professional printer who charged hundreds of dollars per box of fancy four-color cards.
Smart companies make do with two colors. The Nike swoosh was one color. Lululemon Athletica — two colors. John Deere is just green and yellow. Coca-Cola is and always will be red and white.
Book publishers know that two colors is plenty. When my publisher, Penguin Books, sent me mock-ups for the cover of my new book, sure enough, it was two colors. They’re smart, they’ve done the math, and they know two colors is enough to make a cover striking. When applied over thousands of copies per title and hundreds of titles each year, the money adds up.
3. Rent month-to-month
Perhaps because I blew so much money on my fancy logo, I started off skimping on office space, and I think this moderation was the main reason I was able to get my business off the ground.
My first office was my parents’ basement (five-foot ceilings and the scars on my forehead to prove it), but the price was right: $0. The next office was a spare bedroom in the $800-a-month apartment my fiancée and I rented.
I finally moved out of the house two years after starting up and rented a 100-square-foot closet (really) that had no windows and no ventilation system. In order to get any air in the closet, I had to leave the door to the hallway open, which made for some interesting encounters, given that the building was a little seedy and a hot spot for street people and panhandlers. Both my first employee and I toiled from the closet, and I paid $75 a month with no long-term commitment.
The next office cost $250 a month — and had a window. As we grew, I negotiated other month-to-month leases.
After years of skimping on digs, I screwed up. Figuring we had “graduated” as a business and were now successful, I did what Dr. Stanley would have rolled his eyes at: I signed a five-year lease on a trophy office that cost me $20,000 a month. It was way more space than we needed and had individual offices for each of my staff. It was ridiculous, and I would live to regret it. We never actually filled the space and rarely entertained clients there. After five years and $1.2 million paid in rent, my penance was over, and we moved into space that cost less than half as much, with an option (not an obligation) to take extra space if we needed it. Lesson learned.
4. Buy furniture at auction
I think office furniture actually depreciates faster than a car, which is worth 15 percent less the day you drive it off the lot. Determined to bootstrap our first few offices, I paid less than $100 per work station (chair, desk, etc.) for furniture I bought at various auctions over the years.
The best time to pick up office furniture was in 2001, just after the tech wreck, when thousands of well-funded dot-coms blew up, flooding the auction market with Aeron chairs and Herman Miller desks available for pennies on the dollar. In my opinion, we’re in the midst of another enormous technology bubble that will end with a “pop,” and then you too can pick up furniture for a pittance. In the meantime, keep an eye out for auctions in your town.
Here are some highlights from the Washington Post…
- Eighty-six percent of all prestige or luxury makes of motor vehicles are driven by people who are not millionaires.
- Typically, millionaires pay about $16 (including tip) for a haircut.
- Nearly four in 10 millionaires buy wine that costs about $10.
- In the United States, there are nearly three times as many millionaires living in homes with a market value of less than $300,000 than there are living in homes valued at $1 million or more.
- Forget the Manolo Blahnik high-priced shoes. The No. 1 shoe brand worn by millionaire women is Nine West. Their favorite clothing store is Ann Taylor.What are your thoughts on this?Article By John Warrillow from Built To Sell
Success Advice
Why One-Size-Fits-All Leadership Will Always Fail (and What Works Instead)
The surprising truth about leadership styles that can make or break your team’s success.

Leadership has always been as much about people as it is about performance. Ken Blanchard, in his influential book, “The One Minute Manager”, put it simply: different strokes for different folks. (more…)
Success Advice
What Every New CEO Must Do in Their First 100 Days (or Risk Failure)
Your first 100 days as CEO could define your entire legacy, here’s how to make every move count

When Tim Cook took over from Steve Jobs at Apple, the world watched with bated breath. Jobs wasn’t just a CEO; he was a visionary, an icon, and a legend of innovative leadership. (more…)
Entrepreneurs
The Leadership Shift Every Company Needs in 2025
Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”
While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.
Why This Gap Exists
Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.
What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.
Tools and Techniques to Bridge the Gap
Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.
1. Practice Mutual Empathy
Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.
2. Maintain Professional Boundaries
Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.
3. Follow the Golden Rule
Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.
4. Avoid Micromanagement
Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.
5. Empower Employees to Grow
Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.
6. Communicate in All Directions
Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.
7. Overcome Insecurities
Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.
8. Invest in Coaching and Mentorship
True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.
9. Eliminate Favoritism
Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.
10. Recognize Efforts Promptly
Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.
11. Conduct Thoughtful Exit Interviews
When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.
12. Provide Leadership Development
Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.
13. Adopt Soft Leadership Principles
Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.
The Bigger Picture: HR’s Role
Mercer’s global research highlights five key priorities for organizations:
-
Build diverse talent pipelines
-
Embrace flexible work models
-
Design compelling career paths
-
Simplify HR processes
-
Redefine the value HR brings
The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.
Treat Employees Like Associates, Not Just Staff
When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.
Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.
Entrepreneurs
What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators
Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

When you think of Richard Branson (Virgin Group), Bill Gates (Microsoft), Steve Jobs (Apple), Rupert Murdoch (News Corporation), and Ted Turner (CNN), one thing becomes clear: they are not just entrepreneurs, they are entrepreneurial leaders. (more…)
-
Entrepreneurs4 weeks ago
Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs
-
Health & Fitness4 weeks ago
The Surprising Link Between Exercise and Higher Income
-
Entrepreneurs3 weeks ago
What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators
-
Entrepreneurs3 weeks ago
The Leadership Shift Every Company Needs in 2025
-
Change Your Mindset2 weeks ago
7 Goal-Setting Mistakes That Are Secretly Sabotaging Your Success
-
Success Advice2 weeks ago
What Every New CEO Must Do in Their First 100 Days (or Risk Failure)
-
Success Advice1 week ago
Why One-Size-Fits-All Leadership Will Always Fail (and What Works Instead)
-
Business6 days ago
The Entrepreneur’s Reading List That Transforms Ideas Into Empires
3 Comments