Book review: The Millionaire Dropout
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ByJohn Joe McGinley
On average we could end up spending more than 79,000 of our precious hours in life not watching TV, not on holiday or not even doing our favourite hobbies but working. So we should at least enjoy the time we spend working and make it as profitable and as emotionally enriching as possible.
The Millionaire Dropout is a self-help manual aimed at jump-starting anyone stuck in a rut to greater success. Its author Vince Stanzione made his wealth living the Thatcherite dream as an equity trader before losing his millions as he became a victim of the crash of 1987. However he dusted himself down and, in an eventful journey of recovery, he succeeded in rebuilding his life and fortune.
By his own admission he has made a fortune, lost it and made it again and in Millionaire Dropout he sets out in a school of hard knocks manual to help others get rich, not just in terms of money but in time and in personal fulfilment.
The basic premise of the book is that you cannot spend your life hoping to be successful and rich wishing wealth would come your way – you have to take control of your life. This book is a veritable Wikipedia for the budding entrepreneur. It has been written for those who want to boost their income, reduce their outgoings and increase their standard of living. Split into three sections it covers common-sense self-help advice on:
• Taking control of your life.
• Making money
• And perhaps taking into account the author’s previous setbacks, saving and protecting the wealth you create.
Its 31 chapters have an entry on every feasible topic the budding entrepreneur would want from managing your motivation, to obtaining a business centre and from creating your own videos to dealing with failure.
The only downside is these are truly bite-sized chunks of wisdom, information and advice from a man who really has seen it and done it. However if you get the bug I am sure then you can seek out further information.
I cannot say that I found anything new in this book, but its simple digestible sections reminded me of techniques we have all probably used in the past but have forgotten about or stopped using as our lives became so busy. What did strike me was the overriding theme throughout the book that there is no such thing as luck in life or business. We all make our own luck and create our own opportunities.
I agree with Mr Stanzione, when he reminds us, that if we work at it then it is amazing how often you will be in the right place at the right time and how lucky you will become.
Published by John Wiley & Sons