The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

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DeMarco explains 3 options to consider: Internet business, Innovation, and Intentional iteration. For example, a hot-dog stand by the beach isn’t a Fastlane business. However, selling an international hot-dog franchise certainly is. See behind the consumption to find outabout the creative process of the people who sell what you usually buy.

Then we have freedom: to live how we want, doing what we want, when and where we want. The kind of thing where you will never have to use the snooze button. Everything starts, and ends, with relationships You can't increase your fitness without sweating, the same way you can't experience success without failure. You trade 5 for 2 when you give Monday to Friday to get 2 days off. That’s why you see people “celebrating their freedom” on Friday”. Be scalable , so it can grow rapidly to meet increasing demand without significantly increasing costs Idea and Market: Finding a profitable high-demand area for what you’re selling is essential to succeed.

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fastlaners are frugal with time, while slowlaners are frugal with money. fastlaners are not interested in being wealthy, they are committed to being wealthy. Interested ones read a book, committed ones apply the book 50 times. A course online is scalable instead because people from all over the world can access it at the same time.

MG says that people see the big event-grabbing headlines like the IPO or the big buy-out and think that getting rich is event-driven. A key part of changing these usual ideas is understanding that saving lots of money along with the usual ways of investing might not protect people from typical money dangers like prices going up, scams, or the economy going downhill. The truth is, even the most miraculous exits, where 15-year olds sell their app to Yahoo for millions, require years of work and very often the company owners have already become rich in the process. Note: This kind of no-nonsense criticism is rampant throughout the book. And I love it. Makes for some entertaining and much-needed conventional wisdom detoxing. He says it’s not a law because it doesn’t work universally and all the times. And it doesn’t work at all unless you work hard at what you want.Here are DeMarco’s 5 main commandments for achieving wealth and financial freedom. These principles are essential to understand and implement in one’s journey toward financial success. #1. Commandment of Need