Book Byte #324 "The Education of Millionaires" by Michael Ellsberg
Everything You Won't Learn in College About How to Be Successful
📣 Curious Quotes from the Author
“The amount of money you earn is the measure of the value that others place on your contribution…. To increase the value of the money you are getting out, you must increase the value of the work that you are putting in. To earn more money, you must add more value.”
“The Art of Earning a Living requires a great deal of self-inquiry into what, exactly, the difference you want to make is, and also a lot of creative, entrepreneurial problem solving to figure out how you could make decent money while making that difference.”
“Leadership is like a fountain. Imagine the leaders are the water near the top, ready to burst out of the fountain. The water about to burst out is being pushed up by water below it. If you want to succeed, find leaders who are doing amazing things in the world, and push them up. Find powerful people and help them reach their goals. If you’re of service to them, they will be of service back.”
“In my experience, the skill of success breaks down into three things. The skill of marketing. The skill of sales. And the skill of leadership.”
“The Art of Earning a Living is the art of finding creative ways of bringing the spheres of money and meaning together and making them overlap significantly.”
“Ken Robinson Says Schools Kill Creativity” (which became one of TED.com’s most downloaded talks ever),”
“The two biggest forms of connection capital are (a) your already-existing connections and (b) your ability to give good advice.”
“Well, if there are other people doing well in your industry, and you’re not, there’s nothing wrong with the business you’re in, there’s something wrong with you.”
“Under the contributor mind-set you receive money as payment for your social service. The money you earn is society's way of saying: 'In exchange for your valued contribution, you are hereby granted the right to extract equivalent value from society at a time of your choosing.”
“One characteristic of a lot of entrepreneurs is that they’re relatively unemployable. I don’t think I was the best employee at CNET, honestly. I was really focused on my own projects, really into WordPress.”
📚 Cognition of the Book’s Big Idea
It takes an entrepreneurial attitude, personal branding, and ongoing self-education to succeed in this new environment. Security and fulfillment are no longer guaranteed by official credentials and secure job paths. Rather, you must take measured chances, consistently add value, and establish your authority with your distinct voice and body of work. Those who forge their own pathways are the ones who will succeed in the twenty-first century, whether they are entrepreneurs or employees.
Until Tomorrow,
Jason (Founder Club255)