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Small Biz Book Club: Lessons From the Rich

Author: Kristen Lund Date: June 06, 2014

Want to own a successful small business? Act like a successful small business owner.

The Small Business Owner: Rich Storm, photographer and owner of NY Photo NY in New York, New York

The Book: Rich Habits: The Daily Success Habits of Wealthy Individuals, by Thomas C. Corley

Why I Read It: Along with my photography business, I host three podcasts, and I was asked to be a guest on (Minnesota business coach) Lauri Flaquer’s podcast. The author is one of her clients, and she recommended I read the book and sent me a copy. I was blown away by it. The book studies people, during a few years, who had the same jobs and incomes, but some had great lifestyles and some were living paycheck to paycheck. It nails everything that someone striking out on their own comes across, and it clues the average person in to why successful people are the way they are. It helps you identify your bad habits and change them right away.

Biggest Takeaway: The book covers how to spend wisely and save properly, but apart from the financial stuff, there’s a huge emphasis on maintaining relationships—remembering details and staying in touch. Those personal touches open up opportunities.

Applying Lessons Learned: Since reading the book, I try to be more positive with the people I know, even just texting friends to tell them I hope they’re having a good day. It made me a better connector with clients. There are 10 million people in New York, and there are a lot of photographers, but a lot of them don’t really care about the people they’re doing business with.

I try to establish a friendly rapport with clients in advance of a session by talking on the phone or emailing so the client is comfortable and we have common ground when we get together. If the person is relaxed and natural, they look better on camera, and if they’re happy with how they look, they refer me to other people. My client referrals from existing connections have grown around 30 percent since I read Rich Habits in February.

Who Should Read It: If you’re trying to start a small business, freelance or just make a name for yourself, I would strongly recommend this book. It makes you a better, more positive person, and positive people are the ones who succeed.

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My client referrals from existing connections have grown around 30 percent since I read Rich Habits in February.

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