Read a fascinating book:
Finished reading ”The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Life-time” by MJ Demarco in 2 sittings. (Progress: 389/389; Physical page count total: 336)
Notes:
1. The slow lane is working at a job for 40 years, maxing out the 401ks, living frugally and having a chance at ”wealth”. the slow lane where the mediocrity mass reside should be avoided.
2. Wealth formula: The mentality - need to get rich ”fast”. The path there - real estate? Internet marketing? Seminars? etc. Speed - from idea to execution.
3. People get fixated upon the wealth events (ie, guy living in mansion) when real wealth is the process (ie, guy living in mansion paid the price through hard & smart work)
4. ”The fast lane process demands sacrifices that few make, to resolve to live a few can”
5. To change your outcome, you change your beliefs, which effects action, which effects outcome.
(Obvious huh)
6. To become rich, a rich mindset MUST be adapted.
7. Wealth is freedom, health and relationships
8. Material wealth can be destruct true wealth if not kept in check (aka, rapper lifestyle) 9. Lifestyle of the riches for the middle class is the anti-thesis of happiness
10. Slow lane (middle and uppler middle class) is boring, compound interest is inherently limited, being middle class sucks. Heh.
11. Don’t listen to financial gurus who preach one thing and do the other; aka the high school business teacher who teaches how to create a business ... but she doesn’t own a business, LOL 12. Fast lane (rich) mindset: debt is a useful system to build the business, time is more important then money, always be learning (everyday), income is earned by mutilple businesses and invest-ments; money is every where, it’s created depending the value I create; money is created by building business or buying an existing business;
13. Have a producer mindset, not a consumer
14. Engage in a busines where there is massive consumer demand (think weight loss or online dating) 15. Wealth = Net profit + asset value
16. Net profit = unit sold + unit profit / asset value = (net profit) x (industry multiplier) 17. Business system; divorce time from income
18. 5 business systems; rental (real estate); comptuters or software (internet marketing, comptuer softwares like windows, macbook); content system (books, ebooks, magazines etc); distribution system - selling any products to the mass;
19. Law of Effection - scale and magnitude leads to rich, sell a dollar pen to a million people (scale), or sell a $100,000.00 product to 10 people (magnitude)
20. Worse case consequence analysis - whati s the worst case consequence, what is the probability of this outcome, what is an acceptable risk
21. A business that serves a need; help 1 million people, make them feel better; help them solve a problem; educate them; make them look better (clothes, makeup, nutrition); give them security (housing. safetly, and makeup); raise a positive emotion (love, happiness, laughter, self confi-dence; satisify appetites, from food to sex; make things easier; enhance their dreams and give hopes
22. Control over business; build your product or service; build your brand.
23. Scalability - can the business serve the global market? Is there a limitation of how many units you can sell per day?
24. Fast lane end goals; define lifestyle, assess the cost, target profit for business, execute it 25. Financial literacy is important
26. Build brands, not businesses
Daily Conclusion - what Ubermensch thinks:
INTJ pet peeves #1: People who keep repeating themselves
Exceptions: If the concept is deeply complex, or if it’s an naked chick repeating her ”HNNNNG you’re so good UBERMENSCH” one liner.
INTJ pet peeves #2: People making excuses
Exceptions: Little toddlers. Even then, there shouldn’t be excuses. (”Little Jimmy, don’t be afraid of the Lion! Bop his nose and show him who’s the boss”)
INTJ pet peeves #3: Small talk
Exceptions: Conversational ice-breakers. Small talk is mundane; tell me some big cool idea and implementation steps. Tell me your aspiration to make the world a better - or worse - place.
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I did it; I finished reading ”The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime” (Physical page count total: 336 pages) by MJ Demarco in 2 sitting.
It took 10 or 12 hours, I was reading it slow and taking notes. At one point I passed out, only to wake up and immediately read it again.
Why so hurried?
I can spot a genuinely EXCELLENT book when I read one. The author of The Millionaire Fastlane, MJ Demarco, is worth more then 10 million USD - he’s one of those authors who have
”been there, done that”.
(BTW, I don’t listen to that popular author who espouse ”Don’t buy a latte - save it for your retirement fund”. LOL, nigga u gay)
The book is really friggin’ fascinating; it dispense practical advice and a good glimpse on how the rich get richer.
My top 4 self improvement book would be:
1. The Narrow Road: short guide to getting rich by Dennis Felix
2. The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime by MJ Demarco
3. The Slight Edge: Turning Simple Disciplines Into Massive Success by Jeff Olson 4. The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone 5. The Book Of Five Rings, by Miyamoto Musashi
(Hint: All the authors above got rich BEFORE they started selling those books. They’re the anti-thesis ofa smoke and mirror”guru”)
I’m confident that if I implement the ideas in this book, it will make me millions during my life time.
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Been out with the wife for the past 2 days; wil resume normal Project Ubermensch schedule to-morrow.