Key Thoughts of Em Jay DeMarco’s Millionaire Fastlane

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The book was published in 2011 and during this time received about a thousand positive reviews on Amazon and more than two thousand on the portal about books GoodReads. The author of the book was the CEO and founder of companies such as Viperion Publishing Corp., Limos, The Fastlane Forum, which together generated multimillion-dollar cash flows. Today MJ has retired from operations and just enjoys life: living in a luxurious mansion in Arizona, enjoying travel around the world, leading a healthy lifestyle and is a fan of Lamborghini. What helped him achieve such prosperity? Let’s take a closer look.

The main thing is attitude

Not so long ago, MJ DeMarco, the author of a future bestseller, lived in the same house with his mother, commuted to work on public transport and was subject to a daily nine-hour work routine. At some point in his life, he realized that he could not continue this way and decided to go his own way. And the first thing he began to work on was his attitudes and thoughts.

Many people believe that they do not become rich, but are born. That you can only become rich by inheritance or is it just great luck, such as winning the lottery. Do you also think that an ordinary person is not destined to get rich? MJ writes that such attitudes lead to a very mediocre existence. Thinking this way, we shift responsibility for our life to external circumstances: salary, lottery, luck.

To become truly rich, you need to think differently. And the first thing to start with is your personal attitude. You just need to understand a simple thing: our life depends only on us, and how we spend our life also depends only on us. Next, make a plan that you believe will lead you to wealth.

Don’t follow the standard path

Let’s see how most people think. Many people think that in order to become rich, it is imperative to get a good education, find a prestigious job, work hard for 30-40 years, invest in funds, and only then, in retirement (if you’re lucky), enjoy life and freedom.

But this setup has at least 4 disadvantages:

  • Nowadays, getting an expensive prestigious education does not at all guarantee employment in a high-paying job.
  • Salaries in a prestigious job still have a ceiling. Even if you are the most valuable employee, you will not be able to constantly ask your boss to increase your salary.
  • Investments, deposits, stocks – all this is not very reliable, especially if we take into account today’s inflation rate. You can invest significant amounts now, but in 40 years your money will be worthless.
  • Do you still really think that retirement is freedom? The older we get, the harder it is to maintain health, it is necessary to limit ourselves in nutrition so that there are no complications. It is corny, it even becomes difficult to move. At 60, you may not want to travel the world, you will be so exhausted by your past work that your only desire will be to lie on the couch and watch TV.

Perhaps, after graduating from the university, you will have a good store of knowledge, but you will not know how to use it skillfully. For example, you will know what investment is, but you will not know where is the best place to invest. Much knowledge comes only with practice.

On the other hand, if you decide to create an Internet project that will bring you stable income in the future, then you will need completely different knowledge: skills in coding, website promotion, marketing, sales. All this will not be told to you at the Faculty of Engineering. And you can get all this knowledge only on your own.

As you build your future business empire, remember that many of the richest and most successful people in the world did not graduate from universities: Steve Jobs, Bill Gates, Mark Zuckerberg and many others.

The Millionaire Way is a well-structured process

Every day, we see in the news information that some startup has gone public and raised several tens or hundreds of millions of dollars. Or let’s remember the story of Mark Zuckerberg. A guy in his twenties founded a company that brought him billions of dollars. Many people who do not know the true history of these companies are subject to the false belief that wealth can fall straight out of the sky. Those. you sit at work, and then, the next day, you immediately become a millionaire and the owner of a large company. But this only happens in fairy tales or Hollywood films. Such an attitude only interferes with living a full life and leads to the fact that people at some point “break down”, realizing that they will never be able to become rich and successful. Although the same Mark Zuckerberg went a very difficult path before he received his billions: meetings with investors, presentation of a product idea, his project could even be closed at some point due to legal claims. But Mark, thanks to his passion for his idea, was able to pass all the tests and now his company – Facebook – is considered one of the most successful in the world.

Em Jay DeMarco writes that real wealth is the result of hard work, the correct setting of goals, competent planning, and, equally importantly, the choice of a niche that is not occupied by anyone, i.e. creating a product that is not yet on the market.

Millionaires don’t always do what they love

Many business books say that in order to start a successful company, you need to do what you love.

The author of Millionaire Fastlane partially agrees with this position, only the harsh truth is that most clients don’t care if you love what you do. The main thing for them is to satisfy their own needs. Most people won’t thank you for your product if it isn’t useful to them and more beneficial than the competition.

Therefore, in addition to the fact that you have already figured out how to make a great product, you need to think about what task it will solve for your client. Answer the following questions:

  • Does it have unique characteristics?
  • Does the product outperform the competitor?
  • Is its cost more favorable? If not, why is your price higher than the competition? What are the benefits?

For example, if you decide to open your own smartphone company, then your product should be better than the market leaders Apple and Samsung. If you are making a text editor, then it should be superior to Word.

Although the above examples are too simple and take a lot of money and time to implement such products, they clearly show that a successful business must solve any problem of the client, satisfy his need, be unique or surpass the product of competitors.

The main idea of ​​the book

The main idea of ​​the book is that you need to change your view of the usual things and daily routine. If you want to become rich and successful, you don’t need to follow the path of the majority. Come up with a breakthrough idea, make a plan, make a unique product that will solve a customer’s need or make their life easier.

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