Five Archetypes of Millionaires

I recently watched an interesting spot on High Net Worth (CNBC). The host of HNC, a show dedicated to people who need to know what to do with their million + earnings, interviewed Larry Samuel, a millionaire anthropologist, who had conducted a study for JP Morgan in 2000 and found that there are five archetypes of entrepreneurs.

Samuel lived and socialized with wealthy people and submerged himself into their culture. Here are the five archetypes he found.

Thrillionaires: people who live large and live life to the max. They are the high-falutin types who buy private jets, yachts, travel the world, live in mansions, etc. Richard Branson and Donald Trump would fit this type.

Coolinaires: high earners who enjoy the aesthetics like art, beauty, design, fashion and style. These types would invest in a Picasso before a yacht. Martha Stewart and the Guggenheims are examples of this type.

Realionaires: these types fly under the radar and would seem to be a normal, every day type. They drive regular cars and live in modest homes. Typically they are the "nerdier" of the bunch. Alex Greenspan and Warren Buffet fit this profile.

Wellionaires: spiritual, emotional wellness types who are focused on 360 degree health. Tend to be the "new age, west coast, granola" types. More Life Coaches and Fitness Gurus. Robert Redford and Oprah Winfrey fall into this type.

Willionaires: This is the group most focused on philanthropy and giving back. Their wealth is focused on making a difference in the world. Interestingly, the show didn't give any big name examples of this type.

So, what kind of millionaire will you be? Share your intention here.

What Starbuck's Founder Knew That We Can Learn From...

First of all, I know the blog has been "barren" for a while. I've had massive problems getting posts up on the blog. Hopefully, all is well now.

Secondly, I recently watched an excellent show called American Made on CNBC. The show highlights "American Made" entrepreneurs by interviewing them in their day-to-day environment.

This week the show highlighted Howard Schultz, founder of Starbuck's Coffee Company. It is an interesting look into the mind of an entrepreneur who is just like many of us -- but how a few key things turned him into a billion-dollar business.

One interesting story is how Schultz over came obstacles. Early on his company struggled financially and with a pregnant wife at home, his life was very overwhelming. His father-in-law took him on "a walk" to try and talk some sense into Schultz to get a real job. (A story I can totally relate to.) Schultz stuck with it and of course, the rest is history.

Schultz said, "Everyone has bad times. It is persistence that pays off."

How many times have you wanted to give up because the going got tough? Persistence pays!

Another key point is that they have the lowest marketing budget of any major company in America. Most of their success has come from two key factors: brand awareness and word of mouth. The Starbuck's brand is so successful that even new stores in Arab and Asian countries thrive by keeping the exact logo, look and feel of American stores.

Check out the replay of the interviews on Thursday at 5pm or 10 pm or Sunday (same times.) The first play of each show is on Monday night at 5pm or 10 pm.