Absolute Beginners Guide to TMF & TFLF

[jockinbox]

Getting started with TFLF

Per @MJ DeMarco request here's a definitive guide on The Millionaire Fastlane & The Fastlane Forum

What is it?
The Millionaire Fastlane is a book written by MJ, you can get a copy here: Download The Millionaire Fastlane, FREE
The Fastlane Forum is a community built around the book

THE CONCEPTS
The Fastlane
The Fastlane means creating a business model that follows CENTS, solves a need & eventually involves seperating from the "time for money" equation. CENTS can be described MORE here:

About

The Slowlane
The Slowlane is the "popular" approach to getting rich. It involves saving 10% of your income for 40-50 years, giving it to Wall Street, and then hopefully having enough to retire on.

The Sidewalk
The Sidewalk includes people who have no plans/uses for money. They spend money they dont have, on things they dont need, to impress people they dont really like. A sidewalker believes that the only way to get rich is through luck.

If you look closely you'll notice that the Fast Lane & Slow Lane are built around a process, while the Side Walk is built around an event

Process Vs Events
Getting rich through a process means that you dedicate a resource (time, sweat equity, money) into a calculated risk (business/investments) thus increasing your probablity of success
Getting rich through an event means "Getting lucky" like winning the lotto, suing McDonalds for serving coffee that was "too hot" or inheriting a fortune from a distant relative

Chances of winning the lotto is one in 175 million
Chances of a startup succeeding 10-30%
The Fastlane Forum
The Fastlane Forum or TFLF for short, is a place where you can hangout with other people who have read the book. Some of these "other people" actually put the concepts in the book to work and are worth millions.
What the Fast Lane is NOT
A place where you can learn to make $xx / month
A get rich easy forum (no penny stocks for example)
A place for you to market your product (unless you contribute heavily)


10 Frequent Questions And Answers (please note, these are general answers & I nor other members here at TFLF can make life decisions for you. see here: GOLD! - Sorry, But the Forum Can't Make Your Life Decisions For You!!

1. Should I go to college?
I personally wouldn't but every situation is unique
Some things to consider
Are you a natural entrepreneur?
Can you afford to go to college?
Are you not going for the right reasons? GOLD - Do You Have A Successful Entrepreneurial Premise?

2. Should I quit my job?
I personally would but evey situation is unique
Some things to account for
Do you have savings/way to make money without it? If you have a years worth of savings to figure it out why not
Do you have a business model WITH sales? Don't quit for something with no sales

3. I want a mentor in the Fast Lane, where can I find one?
You're in the right place. This forum is home to some heavy hitters. My suggestion is to pick what you want to pursue and stalk their posts, provide value to them and they'll eventually talk to you. This applies offline too

4. You have nothing, how would you make $100 a day?
Bootstrap: GOLD - A Hustler's Guide To Buying And Selling Anything (Part 1)
Online: 500 Different Ways to Make Money Online | Ninja Outreach
Get creative!

5. You are 20 years old, what would you do?
Read this Notable! - What would you tell your 25 year old self?
Read all gold threads in TFLF
Make a plan, execute

6. I've read TMF , can you recommend any good books?
Fastlane Bookstore
Book Discussions


7. Should I learn to program?
Read this: GOLD - Learning to Program is STUPID! (or SMART?!)
Some factors to consider
Whats your time worth?
Can I outsource for less?
Can I raise the money with a Kickstarter or pre-sales to fund the programming if its not worth it for me to learn?
If I cant, can I give equity to a programmer?

8. What would you do with $XX,XXX?
Does it matter?
Reinvest in your business
This is a forum about making money, not spending it. I doubt anyone will have a problem with that.

9. Hypotheticals (selling my startup that i havent started)
This is like worrying about taxes on all the money you haven't made.
There's a time & place for everything, worry about it when the time comes.

10. When should I get an LLC?
When you start making sales

 

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[jockinbox]

So...you're looking for a mentor?

In the above post I recommended finding someone in the field you want to be in and start helping them out/providing value to them/learning from them etc

SO...


Who's who?

Must Follows
@JackEdwards (all around genius)
@snowbank (professional poker player, ecommerce, all around genius)
@IceCreamKid (all around genius, copywriting)
@Silverhawk851 (drops some serious value

Real estate
@SteveO
@JScott
@CashFlowDepot

Affiliate Marketing
@Coalission
@Vespasian
@integrity

SEO
@DanTheMan
@MVDH
@ari_ari

eCommerce
@Vigilante
@AllenCrawley
@Eskil
@biophase
@Ecom man

Investing
@Rickson9

Self-Publishing
@ChickenHawk
@MJ DeMarco

Online Marketing
@Andy Black (google adwords)
@JasonR (facebook ads)

Consulting
@Kyle Tully

Copywriting
@SinisterLex


This is not a complete list, but its enough to get you rookies started!

 

[MJ DeMarco]

Thanks for posting this, very nice TL;DR for TMF , and the forum.

Chances of a startup succeeding 10-30%

Ha I wish that was true. It's really a lot less than that, but nonetheless, I like the chances much better than a lucky lawsuit, mutual funds, or whatever.

 

[Andy Black]

Follow @SinisterLex for all his great copywriting, freelancing, and getting-off-your-arse advice.

Here's two of his threads:

1. How to Make $1,000 a Week with no Degree, no Feedback, & no Portfolio.
2. SinisterLex's Raw Review Corner

Lex is a great PRODUCER of content.

He goes out of his way to HELP and to PROBLEM-SOLVE.

If you're still in team CONSUMER, then realise you're giving money to team producer in exchange for the value they create.

Lex drops so much value that it's obvious why he'll be successful, no matter what he wants to achieve.

This is in stark contrast to members of team CONSUMER, who are always looking for shortcuts.


Why not hear from Lex's mouth what he thinks of shortcuts, team consumer, and the "take, take, take" mindset:

(@SinisterLex added to the Must-Follow list.)

 

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[Andy Black]

Another great video from @SinisterLex (posted in his thread here.)

Highly recommended, and a good reminder for us all.



Wantrapreneurs Suck...At Problem Solving.

Discover common differences in how wantrapreneurs & entrepreneurs see the world. Some of you don't need this video. Some of you do. If you're honest with yourself, I'm sure you both know who you are.

 

[jockinbox]

+1 on @Andy Black

Thanks for the write up, should be prerequisite for newbies or anyone about to click post on a "School or not" "Where to invest" or "Want to be a trillionaire" thread Lol like a pop up or something

What I always thought would be most efficient would be:

Blocking people from posting for 30 days, so they have a month of just reading before they ask questions that have already been answered

 

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[Vigilante]

@MJ DeMarco this should be immediate gold and required reading for all newbies. This should be part of the sign up process. @jockinbox please add this link to the book section : http://www.themillionairefastlane.com/download.php

 

[MoneyDoc]

Please add @Andy Black to the list!

Nice post. Should help out all the new people!

 

[Silverhawk851]

+1 on @Andy Black

Thanks for the write up, should be prerequisite for newbies or anyone about to click post on a "School or not" "Where to invest" or "Want to be a trillionaire" thread Lol like a pop up or something

 

[jockinbox]

Thanks for posting this, very nice TL;DR for TMF , and the forum.



Ha I wish that was true. It's really a lot less than that, but nonetheless, I like the chances much better than a lucky lawsuit, mutual funds, or whatever.

No problem

Feel free to edit that statistic, I just Googled the answer and got various responses. Although most said that your subsequent tries have a better chance of succeeding (hence the high 30%) LOL

Cheers,

 

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[fishgodeep]

Very informative thread and a great breakdown of the culture of forum.

Wiser people than myself have already mentioned this but this thread should be mandatory reading to anyone who joins the forum.

I would also second the motion to block new users from posting for the first 30 days, this would force people to read a few threads before posting and hopefully avoid asking questions which have already been answered in great detail.

This would be beneficial to veterans, who won't get frustrated at having to answer the same questions and to new users who will avoid asking such questions by reading a few threads on their subject of enquiry.

 

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[G-Man]

All the crazies come out on Sundays. Just like Costco.

 

[ColtonJD91]

Thanks for the great post. Very helpful after being gone for a year. Wish I had read this before starting to post again.

 

[Everyman]

I find this thread very useful and it is the absolute beginners guide.

In my opinion though, the first thing that I would like to see - as a noob - aside from what the guide gives (where to find who/what).

'How to use this forum' in one paragraph:

Please feel free to look for an area of your interest, may it be 'healthy lifestyle' or anything even vaguely related to the Fastlane concept. And start contributing. This is the fastest way to creating value for other people and testing your concepts too.

This is, in my not so even close to being humble opinion, the closest you can get to the 'fastlane philosophy' in a second. With respect to the creator of the thread and people creating the value here.

 

[Iwokeup]

Great post and value add, @jockinbox. Thank you

 

[MJ DeMarco]

here's a definitive guide on The Millionaire Fastlane & The Fast Lane Forum

With the software upgrade coming on Saturday I am looking at doing something like this. Already started with some of the most common questions..

 

[jockinbox]

With the software upgrade coming on Saturday I am looking at doing something like this. Already started with some of the most common questions..

I see what you're doing

Let me know if I can help in any way

Ill compile links to threads like you are doing now if you need

Cheers

 

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[Andy Black]

Bump

Also worth bookmarking these:

• The GOLD Threads
• The NOTABLE Threads

 

[Andy Black]

Newbie here, grealty appreciate the post here. Thank you for the list of folks to follow and learn from, ready to dive in.

Welcome. Thanks for following.

Good for you for showing appreciation and giving thanks already. That's a great start.

 

[Scot]

Thanks for bumping this Andy. I already managed to sift through a lot of this, but that list of must follow contributors definitely helped. I agree with everyone earlier, this should be a must read upon signing up!

While he's new to the forum @Chris Kelsey shoild definitely be added for his great knowledge on app developing.

 

[ZF Lee]

Rep transfer! I need this. This forum is sooooo big. Takes me some time to get around. Seriously this thread needs to be on the front! Even if this is a gold, I should have gotten to it earlier.

 

[GuestUser113]

Gold & thread sticky?

@Vigilante

 

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[timmy]

Wow.....OP. ...What an accurate and novel briefing for any poteential entrepreneur to read. That would be a great wiki page entry Mr. DeMarco. Yaaa......I was about to express my opinion that Zen.....though gone but not forgotten has got to be mentioned .

 

[Brett Johnson]

Newbie here, grealty appreciate the post here. Thank you for the list of folks to follow and learn from, ready to dive in.

 

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[Jeannieadele]

Thanks for the very helpful info! Greatly appreciated and excited to soak up all the amazing words you all have contributed!


Sent from my iPhone using Tapatalk

 

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[fresh]

Thanks so much for this thread. It's giving me a place to start as I scan through the boards. There's so much value here!

 

[Olie Sins]

So...you're looking for a mentor?

In the above post I recommended finding someone in the field you want to be in and start helping them out/providing value to them/learning from them etc

SO...


Who's who?

Must Follows
@JackEdwards (all around genius)
@snowbank (professional poker player, ecommerce, all around genius)
@IceCreamKid (all around genius, copywriting)
@Silverhawk851 (drops some serious value

Real estate
@SteveO
@JScott
@CashFlowDepot

Affiliate Marketing
@Coalission
@Vespasian
@integrity

SEO
@DanTheMan
@MVDH
@ari_ari

eCommerce
@Vigilante
@AllenCrawley
@Eskil
@biophase
@Ecom man

Investing
@Rickson9

Self-Publishing
@ChickenHawk
@MJ DeMarco

Online Marketing
@Andy Black (google adwords)
@JasonR (facebook ads)

Consulting
@Kyle Tully

Copywriting
@SinisterLex


This is not a complete list, but its enough to get you rookies started!

This is legit, it answered a lot of my questions I have about the forum. Feeling a bit overwhelmed by all of the content on here, I have no idea where to start, this gives me a really good idea, thank you.

 

[P Stiller]

1. Andy Black asked me to read this link and respond with my takeaways before talking further.....then to post this reply I sent him on here...
   
   These were my thoughts as I read this....
   Andy.....
   My takeaway is that the slowlane for me is a little different.....
   I have been one of the best wherever worked, at whatever done....I thought I had a lot because I had more than others around me....but growing up I did not have the perception of making a lot of money unless a doctor or lawyer....I literally told myself when thinking of the future....I don't know what I'll do but I'm good at everything I do once learn it.....so something will fall out of the sky....I ACTUALLY RELIED ON THAT! we didn't have Internet when I was young showing us how everything is possible....and I was above others around me.......so time went on and nothing has ever fallen out of the sky as figured.....
   
   I bought and sold things ever since young....everything can think of.....people would come to me and I would flip things daily....put a post it note on that 20 or 100 bucks of how I made it.....and some of those rubber bands of money I still have in envelopes to this very day from 15 years ago....rubber bands are so old they're fracked and broke stuck to the money.....I saved money and determined how I'll spend it by what it took for me to get it by that note I wrote. I sold things I shouldn't of and......if can understand somehow.....when you have a "money tree" like that you think you're getting ahead but all it did was make me not pursue real business success such as what all of you have.
   
   I have no debt,perfect credit, few college credits and I invested years and years into personal training and trying to be the BEST there is thinking it would make me money. I hated the sales part of it because I didn't want to be the fake people around me....horrible at what they do and ripping people off. I WANTED PEOPLE TO COME TO ME......I believed so much if I just sat on Internet everyday mastering the body....I'd become great. Even now my business is almost a hobby because I give each person almost 2 hours sometimes because "I want it done right"......my own client tells me I charge not enough.....Lost my future wife because of my way of thinking....and even worse I held her back in life making her wait for me to finally be successful....so much regret for this I could type and type.
   
   I got a side job driving a bus for 4 hrs a day just to be productive somehow between appointments.....it makes me feel terrible trading my life doing that.....I have a stepfather that says good job, its money......I see nothing but an hourglass emptying every second....always been worried time passing to fast since young.
   
   I believed DEEPLY each person needs to spend life working doing what they love or they're wasting life....I preached this to my girl for years and would have my kid if had any back then.....she always disagreed.....she was right about everything......I was wrong my whole life.......I have the emotions currently to give all of what I have left just to be wealthy enough to make her life so she doesn't have to suffer working.....it's all I care......it's all that stops me from sitting,thinking with tears....
   
   What's time worth?
   My time is everything to me just as she was.....but my actions don't reflect what's inside me.
   
   I contacted a mentor but.....I don't feel he understands....worried if I listen and follow advice I could waste more time.....
   
   I refuse to waste anymore time
   
   Sorry if got off track Andy
   

 

[Dave Daily]

Wow @Andy Black , Thanks for pointing me to all these good threads today. I'm discovering that you're like the matchmaker in Malcolm Gladwell's Tipping Point book. You're a hub pointing the way to all the good shit. Thanks Man! +Rep

 

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[jon.a]

@Vigilante E-commerce?