THE BUSINESS WEEK BEST-SELLER LIST
BUSINESS WEEK's Best-Seller List is based on a survey of chain and independent booksellers that carry a broad selection of books on economics, management, sales and marketing, small business, investing, personal finance, and careers. Well over 1,000 retail outlets nationwide are represented. Current rankings are based on a weighted analysis of unit sales in March.
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RUSH LIMBAUGH RECOMMENDS IT. SCADS OF people are reading it, seeking advice on how to get rich. But will The Millionaire Next Door, the No.1 hardback on this month's best-seller list, give them what they want?
After surveying thousands of wealthy Americans, Thomas J. Stanley and William D. Danko have produced an interesting sociological work--an effort as much akin to C. Wright Mills's White Collar as it is to Peter Lynch's Learn to Earn. Their key insight: The folks you see driving Porsches toward their Greenwich (Conn.) houses probably aren't the moneybags they seem.
Instead, the authors say, most millionaires are compulsive scrimpers and savers who live unostentatiously, well below their means. They work hard, mostly running their own businesses. They invest nearly 20% of their income but are pikers when it comes to charity. And while these millionaires' kids can expect ample educational subsidies, males in particular should expect little ''economic outpatient care'' after age 21.
Does such a lifestyle appeal to you? If so, the authors have some counsel: Choose a line of work that caters to the rich, such as estate law or plastic surgery. Budget all your expenditures, and apply time and energy to investing. And forget about that custom-tailored suit and the Porsche you've been lusting after. After all, if you want to be a millionaire, you've gotta make sacrifices.
2 PERSONAL HISTORY by Katharine Graham (Knopf $29.95) The grande dame of the Washington Post on journalism, business, and her life.
3 THE EDUCATION OF A SPECULATOR by Victor Niederhoffer (Wiley $29.95) A futures trader's insights on markets, music, and mastery of your opponents.
4 SUCCESS IS A CHOICE by Rick Pitino (Broadway $25) Hey, winning the NCAA isn't everything.
5 WALL STREET MONEY MACHINE by Wade B. Cook (Lighthouse Publishing
$24.95) Formulas to help you strike it rich.
7 AGAINST THE GODS by Peter L. Bernstein (Wiley $27.95) Risk management in the making of the modern world.
8 DOGBERT'S TOP SECRET MANAGEMENT HANDBOOK by Scott Adams (HarperBusiness $16) Straight from the puppy's mouth.
9 SELLING THE INVISIBLE by Harry Beckwith (Warner $15) A collection of bite-size lessons on marketing.
10 INTELLECTUAL CAPITAL by Thomas A. Stewart (Currency $27) Managing and profiting from the talents of the knowledge worker.
11 FINANCIAL PEACE by Dave Ramsey (Viking $21.95) Getting out of debt--for good.
12 NET GAIN by John Hagel III and Arthur G. Armstrong (Harvard Business School Press $24.95) Why companies must help virtual communities to flourish, according to McKinsey & Co. consultants.
13 ONLY THE PARANOID SURVIVE by Andrew S. Grove (Currency $27.50) Intel's CEO describes how to turn crises into moments of opportunity.
14 INSIDE THE TORNADO by Geoffrey A. Moore (HarperBusiness $25) Lore on marketing mined from Silicon Valley.
15 THE BANKERS by Martin Mayer (Truman Talley/Dutton $29.95) Money, credit, and banking as it was and will be.
2 1001 WAYS TO REWARD EMPLOYEES by Bob Nelson (Workman $10.95) Give them a champagne brunch, a casual-dress day--or plain old cash.
3 BUILT TO LAST by James C. Collins and Jerry I. Porras (HarperBusiness
$14) How 3M, Wal-Mart, Procter & Gamble, and others became standouts.
4 THE ERNST & YOUNG TAX GUIDE 1997 by the Tax Partners and Professionals of Ernst & Young LLP (Wiley $14.95) Yikes, time's up!
5 THE 1997 WHAT COLOR IS YOUR PARACHUTE? by Richard Nelson Bolles (Ten Speed Press $16.95) The enduring job-search bible--with a new resource guide.
6 J.K. LASSER'S YOUR INCOME TAX 1997 by the J.K. Lasser Institute (Macmillan $14.95) How much did you say?
7 THE BEARDSTOWN LADIES' COMMON-SENSE INVESTMENT GUIDE by the Beardstown Ladies' Investment Club with Leslie Whitaker (Hyperion $10.95) Recipes for Four-Bean Salad, Five-Hour Stew--and 23% returns.
8 YOUR MONEY OR YOUR LIFE by Joe Dominguez and Vicki Robin (Penguin $11.95) To achieve financial independence, restructure your life.
9 THE ONE MINUTE MANAGER by Kenneth Blanchard PhD and Spencer Johnson M.D. (Berkley $9.95) Three management techniques, conveyed in brief story form.
10 THE DISCIPLINE OF MARKET LEADERS by Michael Treacy and Fred Wiersema (Addison-Wesley $12) Consultants diagnose what successful companies do.
11 PERSONAL FINANCE FOR DUMMIES by Eric Tyson (IDG Books $16.95) Lighthearted primer.
12 BARRON'S DICTIONARY OF FINANCE AND INVESTMENT TERMS by John Downes and Jordan Elliot Goodman (Barron's $11.95) What is an oligopsony anyway?
13 GETTING TO YES by Roger Fisher, William Ury, and Bruce Patton (Penguin
$11.95) A Harvard team's step-by-step guide to conflict resolution.
15 INVESTING FOR DUMMIES by Eric Tyson, MBA (IDG Books $19.95) From stocks to small business--with cartoons, too.
BY HARDY GREEN
Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.