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MJ DeMarco
I followed the science; all I found was money.
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explaining how MJ Demarco started and maintained his online limo business and the process of doing it.
Do you really think this is going to help you? I'm sorry to break the news to you, but it won't. Perhaps these details were omitted in the book because they aren't relevant today. The transcendent details I included, for example, good customer service.
The answer about HOW I did it is short and simple:
Hard work. Process.
Stop looking for the "magic secret" that will help you bypass hard work and process.
As for the underlying details...
What if I told you that I spent $5,000 a month on CPC advertising at the LookSmart and AltaVista search engine? What value does that hold for you today? Especially when the search engines don't even exist any longer? You going to replicate that? Copy it?
What if I told you that I spent a lot of time optimizing pages for the current SEO trends of the day. What value does that hold for you today? When the SEO game is totally different today? You going to replicate that? Copy it?
What if I told you that I didn't use ANY SOCIAL MEDIA tools to build my business? Oh wait?!?! It didn't even exist then. You going to replicate that? Copy it?
Stop looking for secret formulas. The secret formula is knowing there is none. The secret is recognizing that the business climate changes regularly, online it changes at superfast speeds and because of it, you will need to blaze your own path, not follow the path taken by some entrepreneur 10 years ago.
on page 57 it says we shouldn't rely on others. Now, I understand from a perspective of relying on the job market, stock market, and the housing market that it is a bad idea to heavily rely on these but what about banks? Is having other people hold our money at different locations in the same category as relying on others?
Unfortunately this is part of the game. The challenge is to minimize the game. If we take this kind of approach, we might as well just disavow money for what it really is: A hyper reality. Part of the reason I hold my house w/o a mortgage is its a real asset that can't be hyperinflated away by a bank, government, etc. As for the Q, if you use banks, yes, spread out your assets among them. I trust banks as much as I trust the cable TV people, but that doesn't mean they're evil and not to be used as tools. Reliance stems from your income and wealth, you want to control those pathways. You don't control the stock market. You control you.
On page 127 it talks about asset valuations of business, real estate, and so forth, saying that a paper valuation of $60 M of a new business will be worth only $10,000 in the bank. How does this work?
Just means that paper valuations and actually money in the bank don't always equate. When people say "SO AND SO is a billionaire" usually a great % of that wealth is locked up on paper. For example, Warren Buffet has much of his NW tied into Berkshire, not actual cash laying around in a bank.