The American Middle Class is a Lie – Cardone Zone

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In this episode, Grant Cardone talks about how there is no money in the middle. He sites an article “The Middle Class is Steadily Eroding” which includes a Price Waterhouse Coopers study and examples of retail stores who are failing because they target middle and lower income customers as opposed to the higher end retailers who offer exceptional service to a higher end clientele with money to spend. Grant equates the mythology of the middle class to that of Hercules and urges people to watch what the wealthier people do and mimic it. According to Grant people must think about where the money is and follow it. There is a reason $3500 washer and dryers are selling yet $500 ones remain in the stores. People with money have money to spend. Grant offers these key tips: 1. You need profit margins. 2. Do not strive to be the cheapest and lowest. 3. Provide great service to a high-end clientele. Grant takes callers and discusses how middle class values keep people stuck. He mentions how stores like JC Penney’s and Sears are struggling yet Nordstrom is doing great. The high end is thriving and they are the ones spending. Grant explains over 65% of Americans are living paycheck to paycheck.
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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.