Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen [Hardcover]

Thomas J. Stanley (Author)

Book Description

Publication Date: May 1, 2004

Eight years ago, Dr. Thomas J. Stanley swept aside the mythical magic curtain of wealth to reveal The Millionaire Next Door. America found out just who and how common the truly wealthy were in this country¿and we learned the characteristics and habits that made them so. Now the author of the follow-up The Millionaire Mind focuses on one of the least understood but increasingly rich demographics: Millionaire Women Next Door.¿Why write another book that profiles millionaires?¿ Stanley asks. ¿The vast majority of the millionaire respondents (92 percent) in The Millionaire Next Door were men. . . . I felt that it was indeed time for successful businesswomen of the self-made variety to be heard.¿ And heard they are in this book that is destined to become every bit as informative, quoted, and inspirational as the author¿s earlier works. Readers everywhere will be fascinated by Stanley¿s thoroughly researched findings and conclusions. More than a simple extension of his studies of male millionaires, Millionaire Women Next Door presents groundbreaking concepts involving the nature, lifestyle, and business choices of successful American women that reach far beyond the scope of the author¿s previous studies. The book examines the choice of businesses elected by self-employed women, ranking over 150 categories in terms of their profitability and probability of success. It also describes the women¿s background, highlighting the fact that most millionaire women were raised in nurturing family environments that were literally training grounds for success, instilling the values that make this group one of the most generous in American society as demonstrated by its level of giving to charities, family, and friends. While many characteristics such as frugality and simplicity of lifestyle are similar to those of their male counterparts, Stanley demonstrates that most millionaire women work harder and do better¿at school, in business, and in investment practices. Millionaire Women is sure to be one of the most read, reviewed, and discussed books to come out this year. Make your own wise investment for a wealth of solid sales.

Editorial Reviews

About the Author

Dr. Thomas J. Stanley began studying the affluent in 1973. His coauthored New York Times best-seller, The Millionaire Next Door, was released in 1996, and has sold over 2,500,000 copies worldwide. Thomas followed his first book with Marketing to the Affluent, ranked among the ten outstanding business books by the editors of Best of Business Quarterly. His second New York Times best-seller, The Millionaire Mind, explored America¿s financial elite and how they became so when it came out in 1999. The author, who lives in Atlanta, holds a doctorate of business administration from the University of Georgia in Athens and was formerly a professor of marketing at Georgia State University.

Product Details

• Hardcover: 320 pages
• Publisher: Andrews McMeel Publishing (May 1, 2004)
• Language: English
• ISBN-10: 0740745328
• ISBN-13: 978-0740745324
• Product Dimensions: 9.1 x 6.4 x 1.3 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (34 customer reviews)
• Amazon Best Sellers Rank: #532,666 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

60 of 66 people found the following review helpful:

3.0 out of 5 stars Interesting Bits and Pieces Just OK Overall, May 22, 2005

By 

Sheryl Katz (Chatsworth, CA USA) - See all my reviews
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This review is from: Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen (Hardcover)

There are some interesting bits and pieces in this book, most of which are generally familiar to readers of Stanley's other books. However, on the whole the book doesn't amount to much, wavering between sociological analysis and how to while not actually being either.

What is clearly stated, but somewhat hidden is that this is not a book about women "millionaires" in general. It is based on responses to a questionaire by a group of women business owners with incomes over $100,000 and a net worth between $1 million and $25 million. Not included at all are women professionals, women who have amassed over $1 million by working in corporations, or women who might have made their money as partners in majority male owned businesses. It is not surprising that the women millionaires in this study have not departed much in their consumption or living habits from their middle class roots. It's impossible to say whether his conclusions are even mildly relevant to women who might have made just as much or more money in other ways, and who may account for a larger number of women millionaires.

There were a few observations in the book that I did find to be interesting enough that I didn't feel like I wasted my time. One observation was about how many of the millionaire women had married a type he called "Marginal Bob". (I call them losers). I have observed this phenomenon scores of times in high achieving women, and it's the first time I've seen it documented. Another was the chapter about women who came from dysfunctional families but who were still quite successful.

To me the book felt like fairly pedestrian (and not very well written) how-to advice cloaked in the pretense of scientific investigation. At least the advice is to be frugal, don't overspend, be supportive of others, pick business opportunities based on types of businesses that actually make money, be persistant, etc. At least the book doesn't pretend there is a simple overnight way to be a millionaire. I would find a meaningful empirical study of successful women to be far more interesting. I would have also preferred if he had been more straightforward about what he was really studying. I picked this book up and bought it off the remainder table, and I'm not surprised it ended up there. It just isn't very good. At least it isn't dispensing bad advice and it does have some interesting nuggets.

35 of 37 people found the following review helpful:

5.0 out of 5 stars Hopeful, helpful, and riveting book, June 30, 2004

By 

Diane "diane" (Plano, TX United States) - See all my reviews

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This review is from: Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen (Hardcover)

If you're a woman who didn't quite see yourself in The Millionaire Next Door, there's hope. Women are different than male millionaires in several important ways. For example, the typical male millionaire has married once and remains married, but over half of female millionaires have been divorced. Women are also more generous than men.

The book mainly talks about business owners becoming wealthy, but it also talks about alternatives to business ownership. Stanley profiles a star saleswoman, educators (a wealthier group than you realize), and stay-at-home women who act as managers of their "family office". He also discusses parenting your children so they can develop a millionaire mindset. Many situations are presented in this book, so you can probably find something that will apply to you.

As for helpful advice, the author points out cautions women need to consider. Women need to watch out for the "Marginal Bob" worthless first husbands. Women also often provide continued financial support to their grown children and grandchildren. This "economic outpatient care" hurts both parents and children.

I enjoyed reading this book. It was well written and thoroughly researched. I will buy more copies for graduation gifts.

20 of 21 people found the following review helpful:

5.0 out of 5 stars Very good future ahead of me, February 13, 2006

By 

C. M. Mccarthy "Christine McCarthy" (Riverside, CA USA) - See all my reviews
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This review is from: Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen (Hardcover)

I absolutely loved this book! When I originally read Stanley's Millionare Next Door, I was put off that all the data was regarding men (but that it is still a very good book). I was suprised to stumble on this book and am very glad that I did!

Recently, before reading the book, I made the assumption that for women, money correlates with charity. Look at Susan Sarandan w/ the Heffer program and Oprah w/ her various charity beliefs...Awesome women who know how to give back to the world.

I feel it in my bones that this book is one of the variables in my life to lead me to success. It has opened my eyes and confirmed my assumptions to obtain success. And has also provided me w/ many other aspects and details I found interesting.

This is a definite book to have in your collection if you are serious about obtaining success. Not just monetary success but happiness w/in yourself and the community/world you live in.