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Book Review: The Education of Millionaires

April 18, 2013

I promised myself that I would read seven books for 2013 and do a book review for each one. I made this promise to myself because I have noticed that in the past year and a half my job has become much more difficult, my full-time job that is, not allowing any breathing room for anything else. On the weekends I am too exhausted to read and I just want to spend time with my wife. Also, my side businesses have kept me busy as well. I always loved books and I have been an avid reader of books since I was six years old. I am now finding that I am in a point in my life where sitting down to relax and read comes with great difficulty. So this year I am going to read at least seven books and comment on them.

I just finished reading The Education of Millionaires: Its Not What You Think And Its Not Too Late, but actually the book is exactly what you’re thinking. In the beginning it captivated my emotions on my current condition fairly well. Feeling like you are in a job where you don’t respect those around you and the values of the organization are not the same as yours. So that got me into feeling and thinking that at last I had found a book that was going to give me a step by step walk through of how to turn my side businesses into something I can live off. It didn’t. Halfway through the book the author Michael Ellsberg is just promoting websites of all these people he knows, websites neither you nor I would have found on our own by just simply doing a random search of any kind. I visited these websites and the only one worth while was copyblogger.com. It actually offers a free pdf file you can download and it teaches you a bit about search engine optimization and how search engines works. Now that’s a real skill and a nice piece of knowledge to have, but the rest was just self-styled motivational gurus who supposedly made it rich and so can you.

I do agree with Michael Ellsberg that we have to stop looking at sales and marketing as something evil and realize that it is a tool we need if we want to be successful entrepreneurs. There is just no way of doing it without those skills I believe, but the problem is Michael Ellsberg does not offer much hands on training on how to do it. He gave one or two examples of his wife’s business, but the rest was just one self-made entrepreneurs’ you can go out and do it story after another.

I would not recommend this book to those who are already working to build a business no matter how big or small. You and I want step by step instruction or practical ideas, such as the one offered by Michael Ellsberg where he stated that we need to stop pitching our product and focus more on the needs of the customer. That makes sense, its practical, and I would peruse to the page of his book to see an example of how it is done, but other than that I wouldn’t read the book from start to finish the way I personally like to do. Sorry Mr. Ellsberg but I would give your book about two stars.

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