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One last lesson from the author of ‘The Millionaire Next Door’

It was Sir Isaac Newton who is reported to have said, “If I have seen further it is by standing on the shoulders of giants.” I’m saddened as one of those giants has left this world.

His name was Thomas J. Stanley, Ph.D., and he was the best professor I had in my MBA program at Georgia State University. He also was the author of several books, the most famous of which were New York Times bestsellers, ” The Millionaire Next Door” and ” The Millionaire Mindset.”

He has sold over three million copies worldwide of his various books to date. He’ll always be known to me as “Dr. Stanley,” and he taught me (and his many other students) a lot of great lessons, not only about marketing and business, but about life.
Dr. Stanley, 71, died late last month in a car accident near Atlanta.

Numerous lessons

There were many lessons Dr. Stanley taught us. One was a valuable marketing lesson that has stuck with me through the years, about avoiding activities that everyone else is doing. I wrote about this for Business Journals in this article.

Dr. Stanley also told us the value in learning on the job when consulting. He would say that often we don’t know everything about a problem a prospective client would have. His recommendation was to embrace learning and do the job, hustling all the time. That is very appropriate for today, when things are changing so fast that no one has all the answers. Learn as you go and keep improving continually.

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