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Who Needs College? 7 Core Success Skills of “Self-Educated” Billionaires

Aaron Task
Daily Ticker

In The Education of Millionaires, author Michael Ellsberg details the successes of a number of "self-educated" billionaires, including hair-care magnate John Paul DeJoria, Facebook co-founders Dustin Moskovitz and Sean Parker, fashion designer Mark Ecko, Hip Hop and fashion mogul Russell Simmons, WordPress creator Matt Mullenweg.

Like Steve Jobs and Bill Gates before them, these highly successful entrepreneurs either dropped out of college or never enrolled in the first place, once again raising questions about the value of a higher education. (See: James Altucher's 8 Alternatives to College)

"If you want to be a doctor, lawyer, engineer [and] go into a traditional profession, [college] makes a lot of sense," Ellsberg says. "But for people who have no idea...$50,000 a year is an expensive way to figure out what you want to do with your life."

In the accompanying video, the author and Forbes blogger discusses the common traits and the 7 Core Success Skills he gleaned from these titans of industry:

  • Learn How to Sell
  • Learn Marketing
  • The "Right" Way to Network with Big Wigs
  • Define Your Vision
  • Invest in Yourself
  • Build the Brand of "You"
  • Take an Entrepreneurial Mindset

"These are the real world skills we don't learn in college," Ellsberg says, stressing, as the subtitle of his book indicates, "it's not too late" to learn these lessons, even if you did go to college.

See also: Secrets for Going Up in Down Times: Willie Jolley

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