The Millionaire Dropout: Summary Review
This is a summary review of The Millionaire Dropout containing key details about the book.
What is The Millionaire Dropout About?
The Millionaire Dropout is a book about financial freedom and success through entrepreneurship, discussing the mindset and habits of those who have achieved wealth outside of traditional career paths.
Not a book based on old fashion theories or textbook scenarios, The Millionaire Dropout is instead based on tried and tested methods of increasing personal skills, increasing your wealth, improving your life-style and releasing all the personal power that is locked up inside you. Based on the author’s firsthand experience of bootstrapping himself out of failure, The Millionaire Dropout is for anyone who wants to learn the secrets for increasing their income and their standard of living. Divided into three sections readers will walk through the stages of taking control of their life, learning how to make more money, and learning how to be smart with their successes.
Summary Points & Takeaways from The Millionaire Dropout
Some key summary points and takeaways from the book includes:
* The concept of "financial independence" - living off of passive income from investments - as a goal to aim for.
* The importance of creating multiple streams of income and diversifying investments.
* The dangers of being too risk-averse in investing and how taking calculated risks can pay off.
* The impact of mindset and personal growth on financial success.
* The importance of using leverage, such as using other people's money to invest in real estate.
* The role of goal-setting and visualization in achieving financial success.
* The benefits of seeking out mentors and surrounding oneself with successful individuals.
* The importance of living below one's means and avoiding lifestyle inflation.
* The need to continually educate oneself on personal finance and investing strategies.
Who is the author of The Millionaire Dropout?
Vince Stanzione is a British entrepreneur. Stanzione first worked as a hairdresser in his family's business in Luton before becoming a currency trader in the 1980s. After losing his savings in the 1987 stock market crash, Stanzione started mail order sales of mobile phones.
Book Details
- Print length: 272 pages
- Genre: Business, Nonfiction
The Millionaire Dropout Chapters
Chapter 1:Getting Started
Chapter 2:Let’s Talk About You
Chapter 3:What Do You Want Out of Life?
Chapter 4:How to Reprogram Your Mind for Success
Chapter 5:Making Decisions, Dealing with Problems, and Taking Action
Chapter 6:Your Worst Enemy and Your Best Friend
Chapter 7:Magic Words or Tragic Words?
Chapter 8:Associate with Eagles, not Turkeys
Chapter 9:Personal Relationships
Chapter 10:Getting It Done Now
Chapter 11:Food and Exercise
Chapter 12:Smart Education and Investing in Yourself
Chapter 13:Summary to Section One
Chapter 14:Making Money
Chapter 15:Increase Your Income Right Now
Chapter 16:Starting Your Own Business
Chapter 17:Finding Products to Sell
Chapter 18:The Ideal Mail-Order Product
Chapter 19:Advertising and Marketing
Chapter 20:Become an Expert by Writing Articles and Press Releases
Chapter 21:Why Back-End Selling Leads to Big Profits
Chapter 22:Learning to Invest, but Keeping Costs Down
Chapter 23:Summary to Making Money
Chapter 24:Saving Money
Chapter 25:Buying Designer Clothes for Less
Chapter 26:Buying from Auctions and Wholesale
Chapter 27:Getting Cheaper Calls
Chapter 28:Credit Cards, Cash Back, and Points
Chapter 29:How to Get a Discount on Anything
Chapter 30:Making Your Money Work Hard by Saving and Investing
Chapter 31:Time to Say Goodbye—Where Do We Go from Here?
* The editor of this summary review made every effort to maintain information accuracy, including any published quotes, chapters, or takeaways. If you want to enhance your personal growth, I recommend checking out my list of favorite personal growth books. These books have played a significant role in my life, and each one includes a summary and takeaways to help you apply the concepts.
Chief Editor
Tal Gur is an author, founder, and impact-driven entrepreneur at heart. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His journey and most recent book, The Art of Fully Living, has led him to found Elevate Society.
