Tim Ferriss

Tim vs. Michael Ellsberg – how to start a business

Ellsberg Michael

  • about 80% of the jobs are filled informally
  • build up a professional relationship with people within the organization doing the hiring long before the hiring is made
  • start to know people who know people
  • people like to give economic opportunities to people they know an trust
  • talking about an advantage in absolute terms, without comparing it to the costs and benefits of other options is pointless
  • you waste 150.000$ on an education you could get for 1.5$ in late fees at the public library
  • the nine steps to making it:
    • choose your new field of learning
      • 1 month
    • showcase your learning
      • 1-2 months
      • start a simple blog, detailing your journey
      • read on book related to your profession per week
      • choose both classics and new authors
      • choose books written by practitioners in the field
      • blog on what you have learned that week – books and stuff
      • by doing this, you develop your professional brand as a thought leader in your field
    • learn the basics of good networking
      • 1-2 months
      • be good at networking, be good at your skill and be good at sales
      • find three business owners/month and ask them what their challenges are, then be of service to them
      • keep building your social network of success
    • within your building your social economy, start working for free:
      • 3-5 months
      • seek opportunities where you can – practice your skills – offers small, light services related to your chosen field for free to people in your network
    • develop case studies of your work
      • 3-5 months
      • blog about your growth
    • develop relationships with mentors
      • 3-5 months
      • read authors and bloggers and try to contact the authors of a little older books, they are usually eager to help you
    • learn sales
      • focus on the customers actual problems, needs, dreams and desires
      • ask the right questions and then listen – really listen
      • practice, practice, practice
    • sell and deliver your service within your social economy
      • 8-9 months
      • go hard on your network by using your portfolio and sales skills
  • you can drop out of school, but you can never drop out of leaning


You can find the blog post here.

You can find Michael here.


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