Most first-generation millionaires are tightwads. They aren’t rich because of how much they spend but because of how much they save.
If you need to find millionaires who will donate a large sum of money to your non-profit organization, look for tightwads, not millionaires.
In research that he conducted of American millionaires, Thomas Stanley discovered that the majority of American millionaires don’t drive expensive imported cars. In fact, they don’t drive imported cars. In fact, they don’t even drive expensive cars.
Most self-made millionaires (who earned their wealth themselves during their lifetime) drive a North American car. Ford is the most popular brand. Many millionaires refuse to buy a new car. And the majority never lease.
These people of means insist on shopping around for bargains. They will spend a day scouring the classifieds and driving from private seller to private seller, haggling and trying to drive a bargain, if you’ll excuse the phrase.
If that seems like an unlikely sight, a millionaire haggling over the price of a used car, you are partly right. It’s only an unlikely sight because most millionaires don’t look like millionaires or act like millionaires. The majority of people who accumulated a net worth of one million or more in their lifetime don’t flaunt their wealth.
So if you are hunting in your community for millionaires, don’t be hunting for the folks who drive a BMW or Mercedez Benz. Yes, those people may have wealth. But they might just as likely have the status symbol without the status. The people you are looking for are the ones who have the capacity to buy the expensive imported car but prefer to spend their hard- earned money on more important things. Like investments. Like your non-profit.
The secret to reaching hidden millionaires in your city is to know what they look like, know where to find them, and know how to approach them. That’s why you should attend the Uncovering Local Millionaires webinar. Details below.
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Seminar-on-Demand 001
Uncovering Local Millionaires.
Presenter: Alan Sharpe. Learn how to recognize, find and approach undiscovered millionaires in your city. Three sessions. Over four hours of audio recording, 139 pages of full-color handouts and an 89-page electronic transcript.
101 Irresistible Direct Mail Fundraising Envelopes. Borrow inspiration from the ingenuity and daring of more than 70 non-profit organizations. This is an electronic book delivered by mail on a CD-ROM in Adobe Acrobat format.
Handbook Number 1
53 Simple Ways to Raise More Money with Your Donor Newsletter.
Learn how to strike the profitable balance between informing and asking.
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