Still not rich? Here's why you aren't, and what to do about it.

[MJ DeMarco]

Do you think becoming a millionaire, or better, 8-figure+ multimillionaire, is just a fantasy? Impossibly difficult?

It isn't when you change your perspective from years to days.

These four charts are the most profound understanding you can give your future self. If only someone had given me these charts as a kid—they would prove it's possible to amass wealth quickly and surprisingly straightforward.

Wealth is always perceived as a climb to Mt. Everest.

But what if it was only just a daily walk in the park?

It becomes simplified when you break down wealth accumulation down to the day—sell something 50 times a day for only 5 years. Lessor goals are even easier—a millionaire is just 9 units daily for 3 years.













Better, none of this includes your company valuation, which is just icing on the cake. You're getting paid to build a financial fortress on top of your income. If you're selling Y, X times per day, your company is likely worth 7 figures or more.

Think about that.

Your business effort not only COMPOUNDS in income potential per these charts, but also in asset valuation. It's like getting paid a bonus to get rich.

As for what to sell X times per day, that also has been complicated to the Nth degree.

Look at this Etsy seller. They're not from Silicon Valley; they're not tech wizards flush with VC funding.



They sell a product for $120 (currently on sale), and with 13,000 reviews, they consistently sell. If only 5% of their customers left reviews, we're talking about 260,000 units sold.

That's not just a number.

That's a masterclass in reaching your financial dreams, one sale at a time. If they earn $10 profit on each board (it likely is more) they have created $2,600,000 in real wealth. And their business is likely worth $1,000,000 or more.

THIS MY FRIENDS, IS HOW YOU GET RICH.

You sell 10 things a day for 3 years. Need something simple to remember? Sell X, Y times for Z years.

Or you can work until you are 87 years old and hope for 8% portfolio growth, all while avoiding inflation, stock market crashes, and other economic calamities.

When you compare these financial strategies for wealth accumulation, the comparison is laughable. It's comparing an Elon Musk rocket to a 3-year-old's tricycle.

There never has been an easier choice. And never a better option to free yourself from the tyranny of work, invest, wait, hope, and pray.

I hope you enjoy them and, one day, you witness precisely what they represent.

MJ DeMarco

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

Attached is the spreadsheet with variables you can change and suit to your taste.

Days of profit to millionaire and beyond...

 

[focusedlife]

At the end of the day wealth is just math and consistent behavioral habit, huh?

 

[MJ DeMarco]

and consistent behavioral habit

And control.

One thing can be controlled 75%.
The other, 10%.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Awakened2022]

And control.

One thing can be controlled 75%.
The other, 10%.

Just what I needed to read as I have been contemplating how many kilos of cassava flour I need to produce to earn enough money and retire in three years.

Thanks to your books and forum, I have managed to resign from my part-time job since I just need to produce 130 kgs of cassava flour per month to earn the salary of $83 I was getting. The beauty of it all is that the market is insatiable.

I don't remember who said, "Never trust any financial advice that cannot be mathematically proven. " Thanks for the mathematical proof.

 

[Cameraman]

Do you think becoming a millionaire, or better, 8-figure+ multimillionaire, is just a fantasy? Impossibly difficult?

It isn't when you change your perspective from years to days.

These four charts are the most profound understanding you can give your future self. If only someone had given me these charts as a kid—they would prove it's possible to amass wealth quickly and surprisingly straightforward.

Wealth is always perceived as a climb to Mt. Everest.

But what if it was only just a daily walk in the park?

It becomes simplified when you break down wealth accumulation down to the day—sell something 50 times a day for only 5 years. Lessor goals are even easier—a millionaire is just 9 units daily for 3 years.


View attachment 52963


View attachment 52964


View attachment 52965


View attachment 52962

Better, none of this includes your company valuation, which is just icing on the cake. You're getting paid to build a financial fortress on top of your income. If you're selling Y, X times per day, your company is likely worth 7 figures or more.

Think about that.

Your business effort not only COMPOUNDS in income potential per these charts, but also in asset valuation. It's like getting paid a bonus to get rich.

As for what to sell X times per day, that also has been complicated to the Nth degree.

Look at this Etsy seller. They're not from Silicon Valley; they're not tech wizards flush with VC funding.

View attachment 52966

They sell a product for $120 (currently on sale), and with 13,000 reviews, they consistently sell. If only 5% of their customers left reviews, we're talking about 260,000 units sold.

That's not just a number.

That's a masterclass in reaching your financial dreams, one sale at a time. If they earn $10 profit on each board (it likely is more) they have created $2,600,000 in real wealth. And their business is likely worth $1,000,000 or more.

THIS MY FRIENDS, IS HOW YOU GET RICH.

You sell 10 things a day for 3 years. Need something simple to remember? Sell X, Y times for Z years.

Or you can work until you are 87 years old and hope for 8% portfolio growth, all while avoiding inflation, stock market crashes, and other economic calamities.

When you compare these financial strategies for wealth accumulation, the comparison is laughable. It's comparing an Elon Musk rocket to a 3-year-old's tricycle.

There never has been an easier choice. And never a better option to free yourself from the tyranny of work, invest, wait, hope, and pray.

I hope you enjoy them and, one day, you witness precisely what they represent.

MJ DeMarco

I just read this in my inbox. It's extremely powerful to think like this, and I loved the bit at the end about selling your company.

But there's something else I think needs highlighting. There are so many options to tweak your business, improve your profit margin, and accelerate your sales. You have the power to improve your business and returns. You don't need to pray to the gods of the Stock Market (who won't hear you/don't care).

Love it. As always, a great email to make you think.
Thank you

 

[RicardoGrande]

Really liked the example with the custom cutting board etsy seller.
Whenever I see other people stumble around or spin out on here (myself included), it's because they either want something totally unique, something strictly in line with CENTS, or they think they don't have domain expertise or something worth anything.

For the etsy seller, it wasn't "what is something amazing that will get one billion dollars in 5 months", but "what is something we can do, that people probably need, that we can sell over time and build a brand?" and the answer was 30$ cutting boards and an expectation of steady sales and growth.
With 13,000 reviews, I think just starting and committing got them exactly where so many others wanted to be. Reminded me of the businesses over here in QUESTION - Surprisingly simple stupid businesses- that somehow work like the water bottle girl who literally just sold water bottles but kept at it for 2.5 years and got into the millions off the back of her water bottles, her brand, and her testimonials.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Sinewave_Sam]

Im printing this off for my home office!

 

[ZackerySprague]

I think I overcomplicated the process. This item that MJ stated in his letter was a great example, however, you don't have control since you are on Etsy. Though the seller is doing well, they can still make a killing violating the commandment of control.



If people 480 people purchased in the last day and if each gave you a $30 dollar profit margin. You'd make $14,480 in the last day. Or $19,200 dollars at a $40 dollar profit margin.

Considering if you it followed the math below:

$40 -> COGS
$40 -> CAC
$40 -> Profit

His CAC, for all we know could be $0 if all traffic is just from Etsy and word of mouth.

I make $32 dollars an hour or for 8 hours worth of work that is $256 dollars. I am in the wrong business, lol.

If at full price instead of $30 dollars.

 

[Intax]

Thanks for the post. I like how simple and easily reachable your example makes obtaining wealth. I think especially with our startup we tend to overcomplicate things and focus on the wrong things instead of just focusing on what the customer wants and selling more of our product.

You don’t have to create the next unicorn. A simple product that helps people and sells consistently is enough for the start.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Dufresne85]

Just makes me think:

"What product (X) can you create that sells with (Xx) profit, Y times per day for Z years?"
Or
"What products are currently being sold with xx profit, y times per day for z years that you can recreate and improve on certain value skews"

Food for thought! Thanks MJ!

 

[Panos Daras]

Your rationale is solid. This is how you work backward on what to sell. The only thing I am not sure about is how profitable this bamboo board is. The price of 30 USD is quite low to have free shipping since it is also relatively heavy. But maybe they have achieved such economies of scale that they made it possible I don't know.

 

[Subsonic]

Attached is the spreadsheet with variables you can change and suit to your taste.

Days of profit to millionaire and beyond...

This is is a lot of cleaned windows...

Then again, having one crew doing 5 Jobs a day is already on its way to millions.
When we're talking about tens of crews like Jonny boy then it's a matter of months.

Meanwhile it's a matter of months for my buddy in an entry level job to save up 1k.


Choose you vehicle.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

FYI: The point of this thread is not "Sell on Etsy" -- it was a demonstrative use of numbers.

Etsy, Ebay, Amazon, all have Control and Entry violations. Yes, use these platforms as one part of your multi-channel strategy if they are viable to your product.

But don't mistake this post as "Simply sell handcrafted goods on Etsy."

FASTLANE = Sell X, Y times Daily for Z years.

 

[ZackerySprague]

FYI: The point of this thread is not "Sell on Etsy" -- it was a demonstrative use of numbers.

Etsy, Ebay, Amazon, all have Control and Entry violations. Yes, use these platforms as one part of your multi-channel strategy if they are viable to your product.

But don't mistake this post as "Simply sell handcrafted goods on Etsy."

FASTLANE = Sell X, Y times Daily for Z years.

Never took it that way. It was one sales channel that demonstrates what your books explain.

I'd use them all and review the analytics of each and see which ones work well with the multi-part channel strategy.

But solid advice for sure.

 

[MJ DeMarco]

Never took it that way.

It wasn't directed at you, but more in reference to a private email I received.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Cameraman]

I kept thinking about this post and decided I needed more profit on each sale I made. As I was about to launch a paperback version of my latest book, I thought I would try something different.

Rather than follow my usual process, I made a couple of changes to see if I could improve my profit margin.

• Increasing my book size reduced the page count by more than 50% whilst only increasing the cost per page by a small amount.
• Switching from premium to standard paper then reduced the cost per page by 55%. I can't tell much difference between the two, and the people I asked thought they were the same quality.

Result! The profit per unit went from around £2 to over £8 using my old cover price (before a recent price hike by the printer). Best of all, I make more profit on all future sales.

Thanks @MJ DeMarco for getting me to think.

 

[Daniel1542]

Do you think becoming a millionaire, or better, 8-figure+ multimillionaire, is just a fantasy? Impossibly difficult?

It isn't when you change your perspective from years to days.

These four charts are the most profound understanding you can give your future self. If only someone had given me these charts as a kid—they would prove it's possible to amass wealth quickly and surprisingly straightforward.

Wealth is always perceived as a climb to Mt. Everest.

But what if it was only just a daily walk in the park?

It becomes simplified when you break down wealth accumulation down to the day—sell something 50 times a day for only 5 years. Lessor goals are even easier—a millionaire is just 9 units daily for 3 years.


View attachment 52963


View attachment 52964


View attachment 52965


View attachment 52962

Better, none of this includes your company valuation, which is just icing on the cake. You're getting paid to build a financial fortress on top of your income. If you're selling Y, X times per day, your company is likely worth 7 figures or more.

Think about that.

Your business effort not only COMPOUNDS in income potential per these charts, but also in asset valuation. It's like getting paid a bonus to get rich.

As for what to sell X times per day, that also has been complicated to the Nth degree.

Look at this Etsy seller. They're not from Silicon Valley; they're not tech wizards flush with VC funding.

View attachment 52966

They sell a product for $120 (currently on sale), and with 13,000 reviews, they consistently sell. If only 5% of their customers left reviews, we're talking about 260,000 units sold.

That's not just a number.

That's a masterclass in reaching your financial dreams, one sale at a time. If they earn $10 profit on each board (it likely is more) they have created $2,600,000 in real wealth. And their business is likely worth $1,000,000 or more.

THIS MY FRIENDS, IS HOW YOU GET RICH.

You sell 10 things a day for 3 years. Need something simple to remember? Sell X, Y times for Z years.

Or you can work until you are 87 years old and hope for 8% portfolio growth, all while avoiding inflation, stock market crashes, and other economic calamities.

When you compare these financial strategies for wealth accumulation, the comparison is laughable. It's comparing an Elon Musk rocket to a 3-year-old's tricycle.

There never has been an easier choice. And never a better option to free yourself from the tyranny of work, invest, wait, hope, and pray.

I hope you enjoy them and, one day, you witness precisely what they represent.

MJ DeMarco

This just gave me an idea of what to do thanks MJ