The Millionaire Fastlane by MJ Demarco | Book Summary
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- Опубліковано 20 сер 2024
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Today we are breaking down the main ideas of the book The Millionaire Fastlane by MJ Demarco. In this book you will learn the 3 ways people make money in today’s society.
To illustrate these MJ Demarco uses analogies that we can all understand: The Sidewalk, The Slowlane, The Fastlane.
MJ Demarco says that those in the sidewalk have little to no financial plan and are not very likely to create wealth.
Those in the slowlane might build wealth and even become millionaires but it will take decades to get there.
Those in the fastlane take more risks but have the chance to build wealth at an accelerated wealth which allows them to enjoy their financial freedom.
Let me know in the comments below what was 1 idea that resonated with you the most about this book summary and what book would you like to see next.
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5 Rules to build a Fastlane Business:
1) Have control of the business;
2) Consider one with barriers to entry;
3) Have a product/service that answers to a need;
4) The business should not require your time constantly, otherwise it’s a job not a business; and
5) Make sure it’s scaleable.
Nice video!! 👍🏻
Thank you bro
The Millionaire Fastlane is an amazing book for building fundamental understanding of finance - creating wealth fast via a scalable and profitable business, then reinvesting those profits into cash flow producing assets.
The gist of the book is so simple, but it works.
This is an example of a great book written by a real entrepreneur - you can tell if someone is a real entrepreneur if they can explain complicated things in a super simple way!
I’m in the slow lane looking to dip my big toe in the fast lane. Trying to start a B2C type of online business and still learning.
This has been on my reading list for too long. It sounds awesome.
Do it! I learned a lot
You should! Highly recommend 👌🏻
Great content! Everything that has been said in this content is very relatable to all of us here. I wish everyone living the sidewalk way can slowly shift to slow lane until they finally reach the fast lane. All the best to any one who can read this comment ❤️
Investment are stepping stones for success. Waiting for the government to provide is a big waste
Well said investing is good but investing in the right thing is the actual key to success.
The right choice of investment has always been a big problem for me because I know that picking up the wrong investment will leave a big scar in the future...
Investing in Bitcoin is another way of ensuring steady cash flow, I've been earning every week for a year now.
Is about ten months now I started investing with Christine Morgan and it's been a good experience all through....
It feels good to know that we still have trustworthy people like ma'am Christine Morgan, I'm very delighted I was transformed through her platform God bless her abundantly
Nice, same mindset i am in currently. Creating my passive incomes as we speak.
I hate the title so bad but I swear the content in there is just too dope. It's a must-read if you're interested in building true and lasting wealth.
why do you hate the title millionaire fastlane?
Yo it has been a year. Can you answer randombanana?
@@Dave_of_Mordor maybe there wasn't anything to be said
@@randombanana640 I'm sure you read it. The title makes it appear to be easy but it really not
@@apegraham9819 well ig it's called fastlane but not easylane
Very good video! Works really well with the examples at 6:31! Good job!
Build an IPO company is extremely tough!! Does anyone have a friend that IPO his company?
Real estate investing is much easier therefore is a lot more realistic.
Slow lane investing would already make you $10~50million in 40 years.
I think you could also interpret the Fastlane at looking at local business's for sale (due to retirement, etc) that has existing sales, and with your time and effort could turn into a greater profit. Would it make more sense to invest 700k into a house that rents $4500/month with extremely low cash flow while dealing with the hassle and time of tenants. Yes, eventually after principal is paid in 30 years you will net $48,000/year (not including appreciation) or using that 700k on a business that makes 200k a year with the potential of greater earnings...
Value.
Well, some people say it's about the Journey to get there, and Not just the destination!!!!
Great video. Thank you!
A good video, thank you.
I feel like there should be a lane between slow and fast lol , but I get the idea :3
Invest in trading with my administrative, Robert Craig
𝙃𝙞𝙨 𝙖𝙫𝙖𝙞𝙡𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙞𝙨 𝙤𝙣 𝙬𝙝𝙖𝙩𝙨𝙖𝙥𝙥
+ 𝟙.𝟚.𝟘.𝟠.𝟚.𝟘.𝟟.𝟡.𝟠.𝟜.𝟙
thank you , GJ !
Nice video bro, I found helpful content in the channel also.
im stuck between sidewalk and fastlane
This is what I was missing , now I have it😁😁
Invest in trading with my administrative, Robert Craig
𝙃𝙞𝙨 𝙖𝙫𝙖𝙞𝙡𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙞𝙨 𝙤𝙣 𝙬𝙝𝙖𝙩𝙨𝙖𝙥𝙥
+ 𝟙.𝟚.𝟘.𝟠.𝟚.𝟘.𝟟.𝟡.𝟠.𝟜.𝟙
wow
BTC
With The Millionaire Fastlane, MJ Demarco shows the reader that it is possible to make money and follow your passion at the same time.
The book offers practical instruction for creating a business that gives you complete control by following the six steps of freedom. This business will then allow you to spend more time doing what you love.
He offers readers six principles for creating a successful entrepreneurial venture and achieving financial freedom. These principles are based on his own successful career as an entrepreneur and investor.
Do you mean to say Quit your job and enter in business.
💎
Why am I here ? I just want to be rich by this year or next.
It has been a year since you made this comment. Are you rich yet?
Lol ..
Hที่นานมาก็เพาะพวกเขาเจ้าเล่คอยหลอกดิฉันมุกทุกอย่างไม่ให้รู้เรื่องทุกทุกเรื่องที่เป็นเรื่องทรัพสินและธุรกิจต่างต่างเพาะบางข่าวยังเล่นตลกให้ดูและบอกว่าเป็นเรื่องโจกและเรื่องไม่จริงและบ่างข่าวบอกว่าถูกแจ๋ตพอดนี้และคะที่ำอ่พวกขี้โกงมันกรุเรื่องขึ้นมาหลอกและจะฆ่าให้ตายไปสะเพาะถูกหลอกหลายครั้งแล้วแต่ก็ไม่เคยเชื่อพวกมันสักครั้งเดียวนะคะคุณคุณท่าน
Copying someone elses video sure is easier than making your own :/
This is literally a book summary
@@TheBetterMenProject Yes. But you watched The Swedish Investor's video and copied him word for word.
Have you actually read the book? Just because two people quote the book doesn’t mean they are copying each other. We are copying the book
@@TheBetterMenProject I read the book a while ago. You copied his description and video exactly in the beginning. I see you get tons of views so ultimately that's the reason why you still uploaded the video, but it's basically a duplicate.
This book is rubbish. Just bragging. The writer had a little knowledge. It wasted my valuable time. By the way, I am a self made millionaire. I have become a millionaire in a country where the average yearly pay of a person is $2000. So, his book is good only for him.
If you’re already a millionaire, Then obviously the book is not for you.
Get a job
Hทำไมดืฉันถึงไม่ต้องการใครมาดูแลบริษัทของดิฉันนอกจากแบงก์และโรเยื้อนานาชาติและคำปานิตและกามาเม้นที่ไม่ดีก็ไม่ต้องการนะคะเพาะทุกคนที่เซ็นเอาไปก็ไม่เคยเห็นแม้แต่บาทเดียวถคงอยากให้คุณแบงก์นานาชาติดูแลแทนหนูก่อนและเดียวหนูไปเครียแล้วหนูจะให้เปอร์เซ็นงามงามเลยนะคะคุณแบงก์นานาชาติและขอขอบคุณคุณคุณทุกทุกท่านนะคะที่มีความเมตตาต่อดาวกลางดินคนนี้นะคะฟีด
Hที่จริงไฟแนนไม่มีสิตจะมาบอกว่าฟรีด้อมเพาะมันเป็นสิตของเจ้าของบริษัทพาสเตอร์ริ้งและดิฉันก็มีสิตที่จะทำอะไรก็ใด้ไม่มีใครเป็นใหญ่ที่จะมาสั่งให้ทำนั้นนี้เพาะพวกคุณเป็นแค่คนเครียเปอ์เซ็นกับเจ้าของบริษัทไม่มีสิตมาสั่งนั้นนี้นะคะฟีด