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The Education of Millionaires: Everything You Won't Learn in College About How to Be Successful Paperback – September 25, 2012
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Michael Ellsberg set out to fill in the missing pieces by interviewing a wide range of millionaires and billionaires who don’t have college degrees, including fashion magnate Russell Simmons and Facebook founding president Sean Parker.
This book is your guide to developing practical success skills in the real world: how to find great mentors, build a world-class network, make your work meaningful (and your meaning work), build the brand of you, and more. Learning these skills is a necessary addition to any education, whether you’re a high school dropout or graduate of Harvard Law School.
- Print length288 pages
- LanguageEnglish
- PublisherPortfolio
- Publication dateSeptember 25, 2012
- Dimensions5.56 x 0.67 x 8.43 inches
- ISBN-109781591845614
- ISBN-13978-1591845614
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Editorial Reviews
Review
"Michael Ellsberg's book is provocative and wise. Tuition is skyrocketing, job prospects are grim, and the race for bogus credentials has turned into a runaway status competition for positional goods. The Education of Millionaires offers a renegade path for anyone who wants vital skills without the crushing burden of student debt." — Peter Thiel, cofounder of PayPal and first outside investor in Facebook
"Your success in a knowledge society depends on mastery of soft skills and practical intelligence-and yet they don't show up in college or high school curriculums. Ellsberg's rebellious book provides a street-smart education to fill the gap." — Keith Ferrazzi, author of the #1 bestseller Who's Got Your Back
"As Michael so aptly explains in this delightful read: your education starts in the crib and ends when you take your final breath. In a fully realized life, it is all about lifelong learning." — Lynda Resnick, vice chairman, Roll International, Teleflora, and PomWonderful
"Self-education is the key to upgrading your mind and your life. Michael's book teaches you how to unlock the education available outside of classes, all around you." — Matt Mullenweg, creator, WordPress.org
"This book is a masterpiece. Gripping and whip-smart, The Education of Millionaires will forever revolutionize your thoughts on the connection between education, career success and prosperity. Ellsberg is careful to avoid 'motivational fluff' and instead provides mind-blowingly sharp (and humorous) brass-tacks advice on how to profit handsomely by becoming a lifelong learner." — Jenny Blake, author of Life After College
"If entrepreneurs were running schools, instead of bureaucrats, schools would be teaching a lot more of the skills and mindsets found in this book. Since they're not, this book is a necessary antidote to a traditional college education." — Scott Banister, founder of IronPort Systems, Banister Capital
"This is the must read of the next era of education. This one book could be all the education you ever need to massively outperform even the Ivy League. The secrets contained are brilliant and simple to adopt." — Cameron Herold, author of Double Double, former COO of 1-800-GOT-JUNK?
"Just like the entrepreneurs he highlights in his book, Ellsberg challenges the conventional wisdom of what it takes to make it in this world. If you have an idea and the drive, nothing can stop you. And Ellsberg proves it." — Simon Sinek, author of Start With Why
"You don't need a degree to live life on your own terms: you need economically valuable skills. Ellsberg's book is the blueprint for entrepreneurial education." — Josh Kaufman, author of The Personal MBA: Master the Art of Business
"Provocative and timely, Ellsberg lays bare what he sees as a giant hole in much of traditional education-a focus on 'academic' knowledge and a de-emphasis on the knowledge and skills necessary to actually succeed in life. Drawing from a wealth of interviews with successful entrepreneurs, he hones in on seven key success skills that help put you back in the driver's seat." — Jonathan Fields, author of Uncertainty
About the Author
Product details
- ASIN : 1591845610
- Publisher : Portfolio
- Publication date : September 25, 2012
- Edition : Updated ed.
- Language : English
- Print length : 288 pages
- ISBN-10 : 9781591845614
- ISBN-13 : 978-1591845614
- Item Weight : 9.4 ounces
- Dimensions : 5.56 x 0.67 x 8.43 inches
- Best Sellers Rank: #886,421 in Books (See Top 100 in Books)
- #521 in Job Hunting & Career Guides
- #1,215 in Motivational Management & Leadership
- #1,458 in Business Motivation & Self-Improvement (Books)
- Customer Reviews:
About the author

Michael Ellsberg was born in San Francisco in 1977 and lives in New York. Michael sends manifestos, recommendations, tips, and other exclusive content to his private email list, which you can join at www.ellsberg.com
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Customers find this book to be a must-read that serves as a great resource on real education, providing useful real-world information. Moreover, the writing style is well-written and easy to read, with one customer noting its well-organized structure. Additionally, customers appreciate the book's value for money, particularly its focus on sales and marketing, and its timely approach to the subject matter. They also value its authenticity, with one review highlighting its use of real-world examples.
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Customers appreciate the book's educational approach, describing it as a great resource that provides useful real-world information. One customer notes that it offers a road map for success, while another mentions it serves as a good complement to Think and Grow Rich.
"...Personally, it has helped me substantially, and it is also thanks to him if I finally decided to leave my safe and secured, well paid job, to become..." Read more
"...say that what I have learned in my self education FAR exceeds my formal business classes and at a fraction of the total cost...." Read more
"...throughout the book: links to websites, names of other books, seminar information, and other resources with which the curious can pursue further..." Read more
"...Do meaningful work You'll read how Anthony Sandberg loved sailing and wanted to build a business to teach it, but he didn't have sail boats...." Read more
Customers appreciate the writing style of the book, finding it well written and easy to read, with one customer noting its clear organization.
"...He presents a clear, lucid, and very genuine insight into the world of reinventing yourself, and how to find an equilibrium between success and..." Read more
"...The author is very enthusiastic but the apparently pitch-perfect narrative around his case..." Read more
"...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..." Read more
"...REVIEW ever because I want to tell the world how informative and well-written this book is...." Read more
Customers find the book valuable, particularly appreciating its insights into sales and marketing, with one customer noting it's worth its weight in gold.
"...life/business skills such as finding mentors, networking, marketing, sales, branding yourself, among other things...." Read more
"...There's more cost effective ways to show you can be trained and finish tasks and they're explained in the book...." Read more
"...He makes many great points about school-as-babysitting, the "Craigslist value of a BA," how college is mainly designed to turn students into college..." Read more
"...He recommends several books and tools to learn marketing, sales, how to find a great mentor, and many more essential skills...." Read more
Customers appreciate the pacing of the book, finding it well presented and providing a great in-depth look at the subject matter. One customer notes it is very down to earth, while another describes it as well structured.
"...He presents a clear, lucid, and very genuine insight into the world of reinventing yourself, and how to find an equilibrium between success and..." Read more
"...It gives you great choices for success. The book sparkles and shines with excellence." Read more
"Ellsberg does a great in depth look at how people make money...." Read more
"...but the stories he highlights are exceptional and he is very down to earth and logical in his writing style...." Read more
Customers appreciate the timing of the book, with one noting it is timely and another describing it as quick.
"...He's made a quick, inspirational, and practical read by doing the homework for us of years of personal and professional study...." Read more
"...the author gives you step-by-step instructions on what you can do, RIGHT NOW...." Read more
"...Overall 7/10 Pros: ---Very timely book for pursuing an alternative entrepreneur education..." Read more
"...The concept is exceptional and timing perfect but his writing, well, long winded and in need of a good editor...." Read more
Top reviews from the United States
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- Reviewed in the United States on February 19, 2012Format: HardcoverVerified PurchaseWhenever I stumble upon a self-help book, particularly the kind of motivational, how to be successful type of rhetoric, I find myself to be very skeptical. There is something about the self-help category that bothers me. It seems as if those supposed gurus have the secret to financial success, fame, happiness, spiritual fulfillment... and they are happy to share it with you for the modest sum of $29.99. Just give them your money, follow the steps, and all of your problems will be solved.
Sure.
Sometimes they'll throw in some new age mumbo-jumbo, sometimes a few marketing buzzwords, or a mix of the two. As it turns out, all they offer is some basic common sense knowledge for anybody who hasn't been asleep for their whole life, masqueraded as divinely inspired epiphanies. I get annoyed very quickly by that kind of thing.
Then, you come across something distinctly different.
A few days ago the crowdfunding campaign for my upcoming book was ending, and I was checking out the donations coming in. I noticed that a certain "Michael Ellsberg" just preordered a copy of the book, and he tweeted that to his 5K followers. I remembered reading an article of his' some time ago, and I was intrigued, but didn't follow up right away, as I already had a ton of books waiting for me, most of which essential for moving forward with mine. Well, things were about to chance very quickly.
We went back and forth a few tweets, and in a matter of minutes I received a gift notification on my kindle. A few seconds after that, I was already reading his book The Education of Millionaires: It's Not What You Think and It's Not Too Late. Now, that's what I call direct marketing done right.
First off, Michael doesn't pretend to be a guru of any sort, nor does he wish to. He is somebody who has developed over the years a level of hands-on knowledge, the kind of street smart that you won't learn in school, and he has a history to prove it. He presents a clear, lucid, and very genuine insight into the world of reinventing yourself, and how to find an equilibrium between success and fulfillment. The book is fluid and organic. It's well structured, and it's a pleasure to read. You can tell he spent a great deal of time writing, reading, proofreading, checking, going back and forth to fix it several times before publication. There is a lot of time, effort, and professionalism put into this work, and it transpires from every page. The insights and advices he gives make perfect sense (once explained), but they are not obvious at all. Throughout the 272 pages of the book, his personal life permeates and surrounds the events told. It's compelling. And most of all, it feels real. Not for a moment are you treated like a mindless moron, looking for instant satisfaction and empty slogans to fill your void with more emptiness. Instead, Michael treats you like a smart, intellectually engaged person, who is trying to be even more stimulated, in order to take the next big step in their life.
I thoroughly enjoyed reading his book, and needless to say I would recommend it. But not to anybody. If you are not prepared to challenge your views and maybe even change the way you live, then this book is the last thing you want to read. Personally, it has helped me substantially, and it is also thanks to him if I finally decided to leave my safe and secured, well paid job, to become self employed and pursue my passions (taking risks, but with care and intelligence).
Now, I feel like I've known Michael a little bit, and I would like to know even more and learn from him. But most of all, I want to try and help him any way I can, by sharing ideas and giving him insights in those areas that I know fairly well, but that he may not be familiar with.
His book inspired me to strive for excellence with mine. It was one more reason to put all my efforts in writing as best as I can. There is still a lot of work to be done, and I can't wait to get back and make it happen. In fact, that's exactly what I'm going to do now, so forgive me if I stop writing so abruptly.
- Reviewed in the United States on November 8, 2011Format: HardcoverVerified PurchaseI found this book to be highly entertaining and enlightening. A lot of the books I've been reading lately have been great but mainly re-affirming what I already know. Michael gave me quite a few great new ideas and numerous entertaining stories to back his arguments and make his points. I felt as though he readily admits that for some, higher education may be a totally feasible option, but the main question would be "to what cost?" His ending Epilogue about the coming "Education Bubble" sums it all up incredibly well. Most people (including most of my colleagues) graduate University with HUGE amounts of debt only to be able to find jobs serving you & me at Starbucks or similar high-school type jobs. There is no way that they'll be able to pay off there school loans at their income levels and even if they file for Bankruptcy they still owe on their student loans. Having been well over $50k in debt and working behind a shovel for minimum wage with a college degree, I know the overwhelming stress that creates. It's enough to make you want to off yourself! So the question is, why pay all that money & go through it all in the first place when there are other options like khanacademy.org (which has a HUGE selection of completely free educational videos, including everything from Trig, to Economics, to Art History!) or other resources he lists in his book.
I am a person who has purchased online training seminars/ courses for business & investing, reads a non-fiction business/ self-help book about every other month and has even shelled out over $7k/seminar for similar weekend seminars. I also hold a Bachelor of Science in Business Administration with an emphasis in entrepreneurism & finance. I can honestly say that all of my success has come from me busting my ass & figuring out what people want & delivering on that (just like what Michael suggests in his book). Never really liking school and going to college to fulfill my father's desire to have a male member of our family graduate from higher education I can honestly say that what I have learned in my self education FAR exceeds my formal business classes and at a fraction of the total cost. But I knew that it would. My father is a very successful small business owner who dropped out of college and is far more successful in business & life than most of my colleagues parents who hold degrees. He always told me that continuos self education and refinement in all areas of your life was the key to being successful and happy.
My only major critique of the book (and of most business non-fiction books) is that it can be a little long winded at times. I found myself a few times thinking, "Skip to the end Michael, you've already made your point." But I would also say that for a few lessons, I needed that length for it to really sink in.
My apologies for such a long winded and personal review, but I think what Michael touches in on is a very sensitive subject that many of us hold very personal. People are going to either love it or hate it. Remember that when reading reviews & if you're skeptical, pick it up at your local library, but just remember... that's exactly the type of self educate Michael urges his readers to do.
Top reviews from other countries
- NickReviewed in France on May 29, 2014
5.0 out of 5 stars great book
Format: KindleVerified PurchaseVery inspirational a must read for young people. But also for parents and parents to be. I really advise the reading of this book
-
PätrickReviewed in Germany on January 8, 2015
5.0 out of 5 stars Hat mir ein positives mindset verpasst und ist auf jeden Fall weiter zu empfehlen!
Format: PaperbackVerified PurchaseIch bin selbst BWL-Student im letzten Semester und habe mir das Buch durch eine Empfehlung gekauft. Und obwohl dies mein erstes englisches Buch war hatte ich keine großen Probleme es inhaltlich zu verstehen, da es sehr verständlich geschrieben ist.
Und ich muss sagen dieses Buch ist der absolute Wahnsinn. Ellsberg hat verschiedene Millionäre interviewt und deren Erfolgsfaktoren / Erfolgsfähigkeiten auf 7 Fähigkeiten anschaulich zusammengefasst. Es motiviert mich unheimlich und zeigt neue Karrieremöglichkeiten auf für die man kein Studium braucht.
Er unterscheidet zwischen akademischen Fähigkeiten und Fähigkeiten, die in der echten Welt gebraucht werden (die aber an der Uni nicht gelehrt werden)
Und ich übertreibe echt nicht, wenn ich sage das ich aus diesem Buch wahrscheinlich mehr gelernt habe als in 6 Semestern BWL.
- O.TReviewed in Australia on September 30, 2017
5.0 out of 5 stars Five stars
Format: KindleVerified PurchaseRead this book in 2013 and I'd say looking back now its changed my life. It's not the most comprehensive book on self-help and success but its one of the best starting points in this genre.
- Bruce HarphamReviewed in Canada on June 24, 2016
5.0 out of 5 stars Read It Even If You're A Graduate - Get A Crash Course in Success Skills
Format: KindleVerified PurchaseAfter listening to the book twice as an Audible audiobook, I decided to read it in print. It has been an excellent resource. I have highlighted and noted more sections of this book than any other I've read.
Along with "Getting Things Done", "The Four Hour Work Week," and "Never Eat Alone", this book is one I wish I had read 10 years ago. It's that good.
There are two broad themes I take away from this book.
The limitations of the traditional higher education system in a context of rapidly escalating costs. While I'm fortunate to have earned three degrees and graduated debt free, I realize that is far from a unusual experience. Ellsberg shows through the book - and the new segment at the end responding to various exceptions - that higher education has some serious problems to face. These problems include the cost-benefit tension: costs are rapidly increasing while benefits are not rapidly increasing. For my reading of the book, I found the discussion of success skills more exciting because such skills are in my power to develop while overhauling an education system is more daunting.
Ellsberg makes a compelling case for the merits of learning a set of success skills. Interestingly, these skills - sales, marketing, networking and more - directly generate value and boost the value of other skills. The chapters on these skills are outstanding. I enjoyed the mix of examples, the author's experience and resource recommendations. I also found it helpful that Ellsberg provides URLs and book titles to assist the reader in further reading. If you also enjoyed the skills based aspect of the book, I recommend picking up "The Last Safe Investment" next.
- Morgan JauntsReviewed in the United Kingdom on November 12, 2011
5.0 out of 5 stars It's not to late to invest in your own self education & success
Format: KindleVerified PurchaseI first heard of Ellsberg via Tim Ferriss' blog the `Four Hour Blog' where he wrote a guest 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' but I have learnt tons through on the job training and self education. What could this book teach me?
Ellsberg's post '8 Steps to Getting What You Want... Without Formal Credentials' prompted me to buy his new book 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.
This inspiring guy has managed to contact some of the most successful and richest men and woman in the world and interview them (Including Sean Parker of Napster & Facebook fame), 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 presented to us in his fantastic book.
"If your gut tells you that investing in your own continued learning informally would be the most effective for you, then don't let the salesmen of formal credentials scare you out of it. The other option, of course, is to spend years of your life in an undergraduate or graduate program, dropping major cash on tuition, incurring foregone earnings, and going into massive debt in order to rack up ever-more formal credentials, so you can "compete" with millions of others getting the exact same credential each year" - From the 8 Steps Blog Post
The Main Message:
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 up the ladder of success, but you don't need letters after your name to do it.
"Education is still necessary to learn how to do the great work that gets you paid" - Michael Ellsberg
What will You learn?
Some of the things you'll learn about in this book are the powerful tools that Ellsberg calls `Success Skills' such as:
How to find meaning in the work you do
Networking & Mentors (Tim Ferriss points out, if you lost everything in life then your `Net-Worth is linked directly to your Net-Work'.
Marketing - It's not all that fluffy
Sales - A totally new approach
How to invest in your own success
How to create `Brand You'
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'.
This book is a `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.
Conclusion:
How much are you willing to invest in you? The value of this book is probably a couple of grand in personal consulting fees from Michael Ellsberg alone and we get it for £12. Do I really have to tell you to purchase this Gem of a book?