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The Education of Millionaires: It's Not What You Think and It's Not Too Late: It's Not What You Think, and It's Not Too Late (Portfolio)
 
 

The Education of Millionaires: It's Not What You Think and It's Not Too Late: It's Not What You Think, and It's Not Too Late (Portfolio) [Kindle Edition]

Michael Ellsberg
5.0 out of 5 stars  See all reviews (2 customer reviews)

Print List Price: £19.99
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Product Description

Product Description

The myth: If you get into a good college, study hard, and graduate with excellent grades, you will be pretty much set for a successful career.
The reality: The biggest thing you won't learn in college is how to succeed professionally.

Some of the smartest, most successful people in the country didn't finish college. None of them learned their most critical skills at an institution of higher education. And like them, most of what you'll need to learn to be successful you'll have to learn on your own, outside of school.

Michael Ellsberg set out to fill in the gaps by interviewing a wide range of millionaires and billionaires who don't have college degrees, including fashion magnate Russell Simmons, Facebook co-founder Dustin Moskovitz and founding president Sean Parker, WordPress creator Matt Mullenweg, and Pink Floyd songwriter and lead guitarist David Gilmour. Among the fascinating things he learned:

  • How fashion designer Marc Ecko started earning $1000 a week in high school with his own clothing business, and later grew it into an empire.
  • How billionaire Phillip Ruffin went from lowly department store employee with no college degree, to owner of Treasure Island on the Vegas Strip.
  • How John Paul DeJoria went from homelessness to billionaire as founder of John Paul Mitchell Systems Hair Care Products.

    This book is your guide to developing practical success skills in the real world. Even if you've already gone through college, the most important skills weren't in the curriculum-how to find great mentors, build a world-class network, learn real-world marketing and sales, make your work meaningful (and your meaning work), build the brand of you, master the art of bootstrapping, and more.

    Learning the skills in this book well is a necessary addition to any education. This book shows you the way, whether you're a high school dropout or a graduate of Harvard Law School.


Product details

  • Format: Kindle Edition
  • File Size: 774 KB
  • Print Length: 272 pages
  • Publisher: Portfolio (29 Sep 2011)
  • Sold by: Amazon Media EU S.à r.l.
  • Language English
  • ASIN: B0052RDJFE
  • Text-to-Speech: Enabled
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: #25,795 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Michael Ellsberg
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Most Helpful Customer Reviews
6 of 6 people found the following review helpful
Format:Kindle Edition
I first heard of Ellsberg via Tim Ferriss' blog the 'Four Hour Blog' where he wrote a post titled '8 Steps to Getting What You Want... Without Formal Credentials'. This post caught my attention as I don't actually possess 'Formal Credentials' however I have learnt tons through on the job training and self education and I'm very happy in life. However, I'm not quite there yet with my personal and business goals and I've been searching for that Go-Go Juice to get me on track. Was it this book?

Ellsberg's post '8 Steps to Getting What You Want... Without Formal Credentials' prompted me to buy his new book (On the Kindle as the Hardback is not our in the UK - 12th November 2011 as I write) and I'm glad I did. Ellsberg has gone out and done a lot of hard work and research so we don't have to. The chap has managed to contact some of the most successful and richest men and woman in the world and interview them, and guess what? All them dropped out or did not go to college. These successful people have passed on words of wisdom to Ellsberg which he has very kindly presented to us in his fantastic new book.

The main message in this book is 'You don't need to get thousands of Pounds/Dollars/Yen or Euros into debt by going to college or university, to learn something you'll probably never need for your career and to become successful in life'. Ellsberg does point out that 'Education' is in fact extremely important to move yourself forward in life, but you don't need letters after your name to do it.

Some of the things you'll learn about in this book are the powerful tools such as:

1) Sales - A totally new approach
2) Marketing - It's not all that fluffy
3) Networking & Mentors (Tim Ferriss points out, if you lost everything in life then your 'Net-Worth is linked directly to your Net-Work'.
4) How to find meaning in the work you do
5) How invest in your own success
6) How to create 'Brand You'
7) How to banish your 'Employee Mindset' and create a 'Entrepreneurial Mindset' - Even in your own job.

Ellsberg expresses the importance of these and gives you tasters throughout, however he makes sure you understand that you have to take responsibility for your own 'Self Education' and he helpfully tells you where to find excellent resources in all these areas. One which I went out and bought was 'SPIN Selling by Neil Rackham'. I'm in sales myself and it has changed to way I think about selling, and I'm only half way through SPIN.

This is not a stereo typical self help book which regurgitates the same old stuff, if you want that then I would highly recommend 'Tony Robbins - Awaken The Giant Within' as he nailed self help. This book is more the 'How To' for you and me to get moving with our business plans and careers. And YES sales is a major part, so if sales terrifies you, then this will change the way you perceive sales forever and will help you understand why it's a major component to your success.

How much are you willing to invest in YOU? The value of this book is probably £10k plus in personal consulting fees from Michael Ellsberg alone and we get it for £11.44 (the price of two large glasses of wine in London, UK). Do I really have to tell you to purchase this Gem of a book? DO IT NOW.
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2 of 4 people found the following review helpful
Format:Kindle Edition
Turns old fashioned beliefs on their heads - having an Ivy League degree might help, but it doesn't guarantee success. Tenacity, passion, determination and having an open mind to new opportunities will. Michael's book is a brilliant read and show us all a new way to believe, do business and live. The new world is here to stay, so embrace it - buying this book is a great start!
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:  91 reviews
80 of 94 people found the following review helpful
If only I had this book 10 years ago... 29 Sep 2011
By Meganutella - Published on Amazon.com
Format:Hardcover
I rarely finish a business book thinking - "damn - I wish I got all this 10 years ago..." Through subtle distinctions, simple frameworks, and amazing first hand accounts from Sean Parker, Peter Thiel, and Eben Pagan, Michael offers a way to look at the world as a world of opportunity - all the time. It's not some platitude, he actually gives you the formula. As a disclaimer, I went to Harvard, I have an MBA, I am looking for a job in Corporate America and thinking about dabbling on the entrepreneur's path. I'm one of the lemmings Michael addresses throughout the book and the message got through.

Michael's formula is simple -
1. Get your head out of your ass
2. Find people that inspire you and help them
3. Learn what people want
4. Show them that you can deliver
5. Invest in yourself and build little by little, keep teaching yourself
6. Own the impact you are making in the world, under your own name
7. And really, get your head out of your ass, stop being a victim and own your life. Dead-end jobs aren't forever. If you want different, make it so, because the education structure as we know it may be the next bubble.

While reading this book, I've been preparing for interviews and it's made a world of difference in my impact. Before, I didn't really listen for what the company/ hiring manager needed me to do. I cared more about whether they liked me or not and how much $ I would make. And what followed? Lots of dings. Now, I listen for "what's needed" and sell my experiences doing what's needed! I don't have a job yet, but I'm now in serious conversations with a multi-national company about a position where the job description asks for 5 more years of experience than I have. Regardless of what happens, I know I am just getting started...and this book will definitely be by my side.
38 of 44 people found the following review helpful
How To Be A Millionaire 29 Sep 2011
By Ryan C. Holiday - Published on Amazon.com
Format:Hardcover
As a person who considers the day I dropped out of college the first real day of my education, this book told me a lot I already knew. But, I'm not a millionaire so I did learn plenty. Basically, Ellsberg flew around the world meeting billionaires and millionaires--most of whom were rejected or ejected from traditional schooling--and shares their lessons. And not just the lessons but how instructions on how to replicate their success by finding mentors, tips for investing in yourself and marketing the brand of You.

The book features a wide variety of personalities, which is good. Discussions of this topic tend to disproportionally focus on tech startup CEOs which isn't really fair because coding is a bit different than other fields. But Ellsberg includes musicians, fashion designers, bloggers, entrepreneurs and other such successful people. This is a great book, and worth reading.
266 of 330 people found the following review helpful
Felt I had to Wash My Hands when I was done 7 Oct 2011
By Reviewer - Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
First: i would rate 2 1/2 stars if possible but not three!
The premise of this book was really promising. I thought it was going to be, based on the preface, about people who have educated themselves and become experts or broke new ground in technology, finance, and other fields.

What I got: multilevel marketing scams and sleaze. It starts about the third chapter, where he mentions his 'friend' Eben Pagan.. I looked up the guys name and his site.. something in my gut just told me something was very very wrong.. well I looked up his name and it turns out he was one of those 'dating' 'seduction' hustlers. It just got sleazier from there, Ellsberg goes on to say how you should 'lift people ' like Pagan up - and then people will lift you up... does this sound like a non-financial ponzi scheme or what? Ellesberg never mentions Pagan's past, he just says the "runs a 30 million internet marketing company" - gee just like the founder of Zappo's eh? Ellesberg is not upfront about this, implying he knows its a liability and undermines his point. He often refers to copy writers who launched products that made ## million in sales but, suspiciously, never mentions what those products or companies were.( In fairness, he does point out who his personal friends are.)

Then I started to notice all the plugs for his buddies in the pages and I felt like I had paid for an advertisement. I 'thought' having a column on Forbes that this guy would be somewhat respectable, but I should have known better having first heard of him from a link to Tim Ferris (The four hour hustle)'s web site. The cross-marketing is annoying an undermines credibility.. Anyone who has read such books knows the pattern by now: "Four Steps to doing a successful career" Step one "increase networking" You really can't become a great networker without reading "this book by author blah blah blah (plug for book here, and the author of the book having reciprocal agreement to plug you)" But it's not just books, he constantly pushes expensive seminars as well (not his own). Sorry the idea that you have to spend 4000.00 on some 'empowerment' weekend is hogwash. i sincerely doubt these meetings are little more than some insiders making money and a lot suckers out 4000.00.

These guys sell dreams, not real advice. They sell the idea you can work four hours, or you can live like a rock star. A lot of times there advice is counter productive or at the very least unfounded.. they are good confidence men, but what they advise has no efficacy. To be fair to Ellsberg, he does clearly say that your chances of becoming a rock star or billionaire are largely out of your control and he does often site the more temperate Seth Godin.

I also found the writing sophomoric - call me a prude, but if someone has to constantly curse rather than think about what he is cursing about, he's no better than authors who write in cliches (for a wonderful analysis of this read George Orwell's "Politics and the English Language")

I believe that education, particularly higher education, has become a bit of a financial scam, and educational standards have shrunk. But statements like "What do you want your kid to learn, trigonometry, we have computers for that" quoted from one of his "experts" with tacit approval is beyond ignorant.

On the up side, there is some practical advice here and there, some good stories and even if you don't want to emulate ellesberg's tactics, analysis of his self marketing and promotion might be helpful.

Also he does offer practical warnings about the impracticality of today's higher education, the sense of entitlement it creates that cuts one off from opportunities (the idea of being 'above' certain types of work, or that abstract theories of 'film studies' will get you a job anywhere, let alone in film ). Some of his descriptions of the mentality of formal education are amusing and eye opening.

lastly, people who game amazon (like Ferris) are notorious for deleting negative reviews (notice all the short five star reviews, usually the 'user's only one? , so I will saving this off line and will check for occasional attempts by the author or his minions to delete it).
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