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The Kentaro Sono Letter 2024
〒600-8846 京都府京都市下京区朱雀宝蔵町44番地
協栄ビル2階 京都朱雀スタジオ
H-209
2024-W38-4 | Thursday | Bonus: FREE
No. 263
From:
Kyoto-shi, Kyoto, Japan
Thursday, 10:00 A.M.
September 19, 2024
Dear Friend,
In Robb Report, in the article Forget Butlers. Private Security Is Now the Ultimate Service for the Ultra-Wealthy, the author Mark Ellwood writes:
They can bolster that backup by tapping Charlie Hanbury’s insurance firm Samphire Risk. The British insurance broker, and former Lloyds of London staffer, started this operation three years ago to focus on bespoke insurance for the 1 percent. He spotted a gap in the market after a two-decade career in crisis-management insurance, where he had largely focused on policies taken by wealthy Latin American families against kidnap for ransom. Most such insurance, Hanbury explains, is sold as-is and rarely tailor-made to an individual’s needs: “The large providers of insurance are extremely large organizations, but you can trust a boutique business like us to get it right. We will provide you with insurance adapted to the types of risk you’re facing, engineered to your actual requirements.” As an example, he cites two people on an adventure trip through Africa by motorbike; after a traffic accident, one was badly injured. The other, though, was kidnapped in the resulting chaos, creating a second, unrelated incident. This emergency, then, was both a security and a medical one, but typical policies don’t coordinate or complement. “They were in a hostile environment, a long way from home, facing a complicated, critical incident, and there should be a single point of entry to get help,” Hanbury continues. “We are the connective tissue between the problem and the expertise needed.”
He spotted a gap in the market after a two-decade career in crisis-management insurance, where he had largely focused on policies taken by wealthy Latin American families against kidnap for ransom.
Ordinary people envy "the wealthy". But in many cases, they don't know what it really is like to be wealthy. Indeed, not having money is a serious problem, but having too much money is a serious problem too. Because it attracts evil people such as kidnappers, fraudsters, and worst of all, stupid, incompetent, arrogant relatives. The last ones are the the most dangerous creatures of all. Because...
You can't report your relatives to the police!
And having too much money makes it very difficult to educate your children. Often, wealthy children know the taste of luxury lives on their own, but don't learn how to keep the wealth on their own. Can you convince your children the importance of education and money, while you give them Lamborghini's latest cars as Christmas presents? That's why some wise parents hide their true wealth from their own children (Like Warren Buffett).
Listen: No matter how wealthy you are, your wealth is limited. But stupid, incompetent, arrogant relatives' desires are unlimited. They buy everything to satisfy their egos. If you let them loose, your money is gone in a month. Or in a week.
Don't try to express your love by how much money you spend on them. The bitter ending guaranteed.
Today's Pearl of Wisdom #1:
Don't try to express your love by how much money you spend on them!
Sincerely,
Kentaro Sono
Bonus 1:
The Kentaro Sono Selection 2024
~What did you read today?~
No. 263-1
In the book Richistan, in PREFACE, the author Robert Frank writes:
In 2003, I became the first reporter at The Wall Street Journal to focus full-time on the life and times of the New Rich. I immersed myself in their world, hanging around yacht marinas, slipping into charity balls, loitering in Ferrari dealerships and scoping out the Sotheby's and Christie's auctions. I studied up on trust law, high-end investing and the latest trends in charitable giving. I grilled the top luxury realtors, jet brokers, party planners and resort managers. Mostly, I bothered rich people. I asked them endless questions and tried to get them to talk openly about their money and their lives. Surprisingly, many did. The resulting articles I wrote about this new culture of wealth proved surprisingly popular with readers.
Richistan is the book for those who really want to know the wealthy.
For example, if you buy a big house, you need many housewives to keep them clean and functioning. But having many housemaids is a nightmare. You must train them properly, organize them properly, monitor them properly, reward them properly, punish them properly.
It's like managing a small company. Do you want to work in your house to keep your house in weekends? When and where can you rest? That's why many billionaires sell their "dream house" soon after the purchase even if they can keep it financially. Building a "dream house" is fun. Living in a "dream house" is not fun.
And if one of housemaids betray you... there is a real danger. Your embarrassing privacy and critical security information at stake.
Today's Pearl of Wisdom #2:
Living in a "dream house" is like managing a company!
Bonus 2:
The Kentaro Sono Selection 2024
~What did you read today?~
No. 263-2
In the book Marketing to the Affluent, in PREFACE, the author Thomas J. Stanley writes:
In the mid-1950s, Fieldston was one of the wealthiest neighborhoods within the boundaries of New York City. When I was nine years old, I convinced my older sister to give up our practice of trick-or-treating in our own blue-collar neighborhood. That Halloween, we decided to get into the big time and walk one-half mile across three social classes into Fieldston. The trip took us through the woods into total darkness. The large, exclusive houses were well spaced from each other. We expected a lot of competition, but we encountered no other trick-or-treaters there.
The first house we approached was a very large, Spanish hacienda-type structure situated on several choice acres. No lights were on, but I knocked on the door anyway. Nothing happened, but I kept on knocking. Finally, James Mason, the actor, opened the door. He was startled, and I remember distinctly what he said: “No one ever trick-or-treated me, hit on me” during Halloween.
Thomas J. Stanley is famous is for writing The Millionaire Next Door. But In terms of practicality, Marketing to the Affluent, Selling to the Affluent, Networking with the Affluent are better. These three books are pure gold for marketers who want to reach the wealthy on their own.
Don't segment your market by age group, segment your market by occupation.
This is one of the best marketing advices in the world. What should you do if you want to reach doctors? Subscribe the magazines and newspapers only doctors subscribe (if any). You can learn their language, their problems, where they gather, every basic marketing tools around there.
Today's Pearl of Wisdom #3:
Remember Thomas J. Stanley, one of the best writers in history, who specializes in the wealthy!
