The Education of Millionaires by Michael Ellsberg | Review

“The Education of Millionaires: Everything That You Don’t Learn in College about How to Be Successful” written by Michael Ellsberg is a mouthful. Nonetheless, it is a mouthful that you should definitely pay attention to. In fact, the younger you are, the more likely that this book will have a profound and immediate impact on you.

The Education of Millionaires was originally published in 2011, but I don’t think that Ellsberg himself could have possibly anticipated how true his words would ring. Now, when a vast majority of the youth is crippled by student loan debt, this book seems like a prophecy.

Of course, if you are planning on how to become a millionaire within a short period of time, look elsewhere. This is not a book that will teach you how to get rich quick. Rather, it is about teaching you those precious life skills that will help you succeed.

One of the premises of this book is that many believe that the secret to success is a college education. In fact, that is why droves of young people swarm to universities and other private institution all over the world. Ellsberg’s book is about directing people’s attention to other avenues. He argues that college is not enough when it comes to preparing yourself to achieve a particular level of success.

The highlight of this read is that Ellsberg is not making wild claims. He is not ushering budding students away from receiving a higher education. Instead, he attempts to discover the secret to accomplishing goals without having to resort to such an expensive tool. In his endeavor to do so, he has turned to the individuals he thinks are best qualified to teach the rest of the world. These, of course, are the millionaires who have managed to get along just fine without receiving any academic accolades.

Ellsberg has worked hard to compile all of this information together, and now he wants to share it with the world. He is striving to teach everyone practical ways to better their lives and their careers. This is certainly a noble gesture, but here is the real question: does this advice have promise?

The short answer to this question is yes. Ellsberg has done his research and managed to find recurring themes among his work. He has taken this and sectioned it under meaningful labels. The Education of Millionaires is Ellsberg’s attempt to provide accurate information and stir his readers towards action. Now that it can be argued that this is an inspiring piece of written work, let’s take a look at the message that Ellsberg is spreading:

Doing What You Love

This is an age old story that everyone has heard since they were little children. Ellsberg puts this in more realistic and enlightened terms, however. Rather than a rose-tinted outlook, Ellsberg reasons that you are more likely to work harder if you actually find your work meaningful.

He does caution that this requires as much innovation as it does risk. Ellsberg is not afraid to point out that taking the plunge does not always mean you will succeed. It simply means endeavoring for a worthy cause. He outlines the strategies that you need to begin in order to do this. It involves becoming financially stable, putting aside time to become creative, and to take the actual steps involved in starting out on your own.

The Importance of Networking

The second thing that Ellsberg stresses upon is the significance of making connections with others in your field. It is about finding yourself in the company of those who have gained experience and prominence in the industry. To immerse yourself with individuals who can teach you as well as help you move higher up on the ladder.

Give, give, give before you ask.

Ellsberg claims to this, there is only one thing that you need to do. That is, once you have made contact, to give as much as you possibly can. Not only should you make yourself as useful as possible, you should also not expect anything in return. In order to rub shoulders with giants, Ellsberg advises you to find a particular deficiency in these individuals’ lives. Then, with your set of skills, find a way to help them fill this missing piece.

All About Sales

If you have not developed the necessary skill set to market yourself, your ideas, or your business endeavors, it is time that you learn. Ellsberg argues that being a good salesperson helps you get one step closer to your ultimate goal.

This makes sense as well – what is the point of a great business idea, service, or product if no one knows about it? The first step is to find a need that you are able to cater to. The second is being able to spread the word about your service. This way, you will be able to match your particular skills with someone who requires them. This, ultimately, is what business is about.

Think Like an Entrepreneur

Another thing of note to take away from this book is that Ellsberg urges people to begin thinking like an entrepreneur. Why? Well, entrepreneurs have a unique way of looking at the world that gives them that extra push to be successful.

For instance, an entrepreneur is less likely to see a negative circumstance as a permanent fixture. Rather, they believe such instances to be fluid and changing. Furthermore, they are always seeking out opportunities. Instead of waiting for prospects to fall into their lap, they charge ahead and create these chances.

Ellsberg warns that the downfall of many a person is believing that they are entitled to their position in life. If you want it, you are going to have to work for it.

Ellsberg goes on to discuss other important points in his book as well. This, however, is just a brief insight into The Education of Millionaires. Overall, this is a book that everyone should read at least once. Whether you are in college, have graduated, or feel like you are stuck in a rut, this book will be truly helpful. Ellsberg offers an honest and intriguing look into the world of success.

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