Eight Steps to Seven Figures: The Investment Strategies of Everyday Millionaires and How You Can Become Wealthy Too

In the tradition of the megabestseller The Millionaire Next Door, Eight Steps to Seven Figures brings together in-depth interviews with over two hundred everyday people whose investments have made them millionaires. But while The Millionaire Next Door describes its subjects' lifestyles and spending habits, Eight Steps to Seven Figures focuses squarely on the investing strategies and principles that ordinary people have used to achieve the magic million-dollar mark. Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they choose as part of their investment mix. In the course of the book, readers learn how to determine how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free. Among the lessons he outlines and elaborates on: "Buy and Hold and Buy and Hold and Buy and Hold"--Harness the power of time in growing your portfolio and compounding your investment returns. "Know Where You Are Going"--Determine your invest ment time frame, financial goals, and risk "comfort" level to put together a successful wealth-building strategy. "Play to Your Strengths"--Everyone has different personality strengths, investment advantages, and specialized knowledge that they bring to the table; recognize and exploit them in achieving your financial goals. One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life, and can't fully harness the power of time, can find here the guidance they need to become wealthy. Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, Eight Steps to Seven Figures is an absolute must for today's investors. Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they chose as part of their investment mix. In the course of the book, readers learn how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free. One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life and can't fully harness the power of time still can find the guidance they need to become wealthy. Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, EIGHT STEPS TO SEVEN FIGURES is an absolute must for today's investors.--&gt;

Business & Money

Carlson, Charles

Investing

Broadway Business

Turning conventional wisdom on its head, a Senior Partner and an Innovation Specialist from McKinsey &amp; Company debunk the myth that high-octane, built-to-last companies can continue to excel year after year and reveal the dynamic strategies of discontinuity and creative destruction these corporations must adopt in order to maintain excellence and remain competitive. In striking contrast to such bibles of business literature as In Search of Excellenceand Built to Last, Richard N. Foster and Sarah Kaplan draw on research they conducted at McKinsey &amp; Company of more than one thousand corporations in fifteen industries over a thirty-six-year period. The industries they examined included old-economy industries such as pulp and paper and chemicals, and new-economy industries like semiconductors and software. Using this enormous fact base, Foster and Kaplan show that even the best-run and most widely admired companies included in their sample are unable to sustain their market-beating levels of performance for more than ten to fifteen years. Foster and Kaplan's long-term studies of corporate birth, survival, and death in America show that the corporate equivalent of El Dorado, the golden company that continually outperforms the market, has neverexisted. It is a myth. Corporations operate with management philosophies based on the assumption of continuity; as a result, in the long term, they cannot change or create value at the pace and scale of the markets. Their control processes, the very processes that enable them to survive over the long haul, deaden them to the vital and constant need for change. Proposing a radical new business paradigm, Foster and Kaplan argue that redesigning the corporation to change at the pace and scale of the capital markets rather than merely operate well will require more than simple adjustments. They explain how companies like Johnson and Johnson , Enron, Corning, and GE are overcoming cultural "lock-in" by transforming rather than incrementally improving their companies. They are doing this by creating new businesses, selling off or closing down businesses or divisions whose growth is slowing down, as well as abandoning outdated, ingrown structures and rules and adopting new decision-making processes, control systems, and mental models. Corporations, they argue, must learn to be as dynamic and responsive as the market itself if they are to sustain superior returns and thrive over the long term. In a book that is sure to shake the business world to its foundations, Creative Destruction, like Re-Engineering the Corporation before it, offers a new paradigm that will change the way we think about business.

Creative Destruction: Why Companies That Are Built to Last Underperform the Market--And How to Successfully Transform Them

Foster, Richard

Kaplan, Sarah

Management & Leadership

At a time when unethical business practices continue to dominate the business press, PROFITS WITH PRINCIPLES offers persuasive proof that when businesses combine profit making with a concern for values and the greater good, they do better in the marketplace than those that concentrate only on the bottom line. In PROFITS WITH PRINCIPLES, Ira A. Jackson and Jane Nelson show the quantifiable and enduring business advantage to “doing the right thing.” The companies profiled in PROFITS WITH PRINCIPLES–including Starbucks, Citigroup, Alcoa, General Motors, General Electric, Dupont, and Dell–come from different industries and have implemented different strategies to build trust and gain a competitive advantage. What they share, however, are basic operating principles of making values integral to the way they do business. By focusing on creating societal as well as shareholder value, they have built market share, improved risk management, enhanced innovation, strengthened consumer loyalty, and attracted the best talent. Jackson and Nelson’s seven principles include Harness Innovation for the Public Good, as in the simple, low-cost water purifier from Proctor &amp; Gamble that has the potential to save thousands of lives; Spread Economic Opportunity, exemplified by Marriott’s “Pathways to Independence” program that creates job opportunities for former welfare recipients and gives the company a competitive advantage in the marketplace for low-skilled employees; and Put People at the Center, a value practiced by Alcoa that reduced its lost workday injury rate by more than 90% since 1988. This breakthrough guide on how companies can build trust and grow market share by making a difference opens the door to a new kind of capitalism, providing a wealth of infinitely useful and practical recommendations a company of any size can adapt.

Profits with Principles: Seven Strategies for Delivering Value with Values

Nelson, Jane

Jackson, Ira A.

The authoritative hands-on guide to putting the Six Sigma strategy into practice, written by Mikel Harry, co-founder of the Six Sigma Academy, and Don Linsenmann, the Six Sigma champion who helped to implement Six Sigma across DuPont’s eighteen business divisions. The ideal companion to Mikel Harry and Richard Schroeder’s national bestseller Six Sigma, THE SIX SIGMA FIELDBOOK takes readers inside the nuts and bolts of implementing the Six Sigma breakthrough strategy, showing readers how companies can streamline their operations, improve the quality of their products and services, and dramatically increase their profits. Based on DuPont’s multi-year unrolling of Six Sigma throughout the company’s global business divisions, THE SIX SIGMA FIELDBOOK discusses the opportunities, obstacles, and challenges DuPont faced in making the decision to embrace Six Sigma and attempting to adapt it to DuPont’s unique culture. DuPont Six Sigma champion Don Linsenmann reveals the tools DuPont’s managers needed to introduce and sustain Six Sigma quality at every level of the company, from the corner office of the executive boardroom to the factory level. DuPont used Six Sigma to help reshape their entire business model; as a result, they saved billions of dollars. Using as a framework DuPont’s successful multiyear implementation of Six Sigma across its business divisions, THE SIX SIGMA FIELDBOOK reveals the day-to-day obstacles and challenges managers face in coordinating its efforts to implement and sustain Six Sigma and offers a comprehensive road-map on how companies of all kinds can successfully apply Six Sigma methodology to increase profits and improve quality.

The Six Sigma Fieldbook: How DuPont Successfully Implemented the Six Sigma Breakthrough Management Strategy

Harry Ph.D., Mikel

Linsenmann, Don R.

The dollar is in trouble. It has fallen against other currencies for the past three years, and now its orderly retreat could well become a rout. This spells potential disaster for the American economy—and potential riches for a few smart investors. In The Coming Collapse of the Dollar and How to Profit from It, financial gurus James Turk and John Rubino show how the dollar arrived at this precipice, why it will plunge, and how you can profit from the resulting financial crisis. The U.S. today is the world’s biggest debtor nation, printing money with abandon to sustain the illusion of prosperity. The federal government owes $7 trillion and its debt is soaring. As a society, we owe more than $37 trillion, or about $500,000 per family of four. Our trade deficit with other countries is staggering, and to finance this mountain of debt we’re flooding the world with dollars. The inevitable result: The dollar will decline until it is displaced as the world’s dominant currency. Precious metals will soar in value, and gold will reclaim its monetary role at the center of the global financial system. Traditionally a haven during times of uncertainty, gold has risen dramatically since 2001. By the fall of 2004 it was up by nearly 50%, at over $400 an ounce. But this is just the beginning. James Turk, a leading gold authority and the founder of GoldMoney.com, and veteran financial writer John Rubino, show readers how to capitalize on gold’s dramatic climb. In The Coming Collapse of the Dollar, Turk and Rubino reveal which stocks and bonds will falter as the dollar declines and why that decline is virtually inevitable. They offer strategies for using gold coins, gold stocks, gold-based digital currencies, and other hard assets to create a profitable portfolio. And they explain how to make the most of your gold and other precious metal holdings, identifying the opportunities and pitfalls of buying gold mining stocks and the mutual funds that invest in them. America’s debt binge has put its economy at grave risk. The value of the dollar is falling; many stocks are once again wildly overvalued; and bonds, tied to an ever-diminishing dollar, are a disaster waiting to happen. By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers. The Coming Collapse of the Dollar and How to Profit from It is a must read for every investor, whatever the size of his or her portfolio. For more information, visit www.dollarcollapse.com.

The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets

Turk, James

Rubino, John

The largest company in the world by far, Wal-Mart takes in revenues in excess of $280 billion, employs 1.4 million American workers, and controls a large share of the business done by almost every U.S. consumer-product company. More than 138 million shoppers visit one of its 5,300 stores each week. But, as recent news stories show, Wal-Mart's "everyday low prices" come at a tremendous cost to workers, suppliers, competitors, and consumers. The definitive portrait of the juggernaut that is reshaping American, The Bully of Bentonville exposes the zealous, secretive, small-town mentality that rules Wal-Mart and chronicles its far-reaching consequences. In a gripping, richly textured narrative, Anthony Bianco shows how Wal-Mart has driven down retail wages throughout the country, even as their substandard pay and meager health-care policy have led to a double-digit employee turnover; why their aggressive expansion inevitably puts locally owned stores out of business; and how their pricing policies have forced suppliers to outsource work and move thousands of jobs overseas. Their power even influences what Americans can read, watch, and listen to; in the name of protecting its customers, Wal-Mart bans "racy" magazines and insists on sanitized versions of popular DVDs and CDs. Based on countless interviews with Wal-Mart employees, managers, executives, competitors, suppliers, customers, and community leaders, The Bully of Bentonville illuminates the story-behind-the-headlines and brings the truths about Wal-Mart into sharp focus.

The Bully of Bentonville

Bianco, Anthony

Economics

At age nine, Cameron Johnson started an Internet company. Pete Amico quit his job on his first day because he didn’t feel like taking orders from his boss. Greg Herro built a successful business selling diamonds made from the carbon extracted from ashes. If any of these people remind you of yourself, you just might have the kind of personality to take the small business world by storm. In If at First You Don't Succeed..., Brent Bowers, the small-business editor for the New York Times reveals the eight patterns that highly successful entrepreneurs share – and what we can learn from them. Brent Bowers, in covering small business for decades at the Wall Street Journal and the New York Times, has chronicled the rise and fall of hundreds of start-ups. In If at First You Don’t Suceed…, he analyzes the common characteristics shared by dozens of successful small-business owners and their companies. Drawing on extensive interviews and research, as well as on the experiences and expertise of business consultants, venture capitalists, academics, and the entrepreneurs themselves, he describes the key traits that successful entrepreneurs have in common. Among them: • The ability to spot and seize opportunities • An overwhelming urge to be in charge coupled with a gift for leadership • The flexibility to come up with creative, out-of the-box solutions to problems or obstacles • Incredible energy and tenacity in the pursuit of their goals • Unwavering faith in their business • The ability to take smart risks • The ability to bounce back from setbacks and see failure as just one step on the path to ultimate success For anyone thinking about starting a business, or attempting a start-up a second or third time, this book offers invaluable lessons and insights.

If at First You Don't Succeed...: The Eight Patterns of Highly Effective Entrepreneurs

Bowers, Brent

Business Development & Entrepreneurship

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