Thread: Lessons Learned from The Fastlane

I think the #1 best thing learned here for me was the value of time, you can never get more time no matter what you do, so if you plan to get rich do the math. $20 an hour enough? 100/hour ? 500/hour? 1000/Hour?

Are you ever going to make $1000 per hour with your current business model? Probably not, this really made me sit down and challenge businesses and how they make money.
You are not going to make 1k per hour changing a doorknob for someone. I say per hour just to stress the time part but regardless it comes down to monthly income not hourly.


Without a fastlane business model it is impossible to become rich. When you do the math you realize.... you need to be serving alot of people every hour and making ALOT of money in order to become rich and live how you want.

Right, when sums all together it's only about time and how much people can you serve at the time.

Although you could make fastlane business even with changing a doorknob for someone.

If you have 10,000 workers that do the job for you all over the world and they can change 10,000 doorknobs in one hour and make $100,000 in profit for one hour...

If you want to make it hapend, try to avoid mistakes that I made in past:

I always repeated this mistake in my past businesses. I always thought that I know best and with that atitude I never alowed my employees to make their own mistakes, to develop themselves and to learn. Although I was good and fair (sometimes to fair) to my employees they didn't love me --- mostly because I didn't gave them a chance to grow, to be a part of business, to feel important...


So here are another few lessons learned from The Fastlane:

1) Do not try to do it all yourself.
2) With this atitude there is no chance for exponential growth.
3) If you think Big - then also act Big.
4) Always hire people who know more than you.
5) Don't try to be a good businessmen or manager - try to be a good entrepreneur. (It is much easier to be just one)
6) Learn to delegate and teach other to delegate

I agree with the doorknob thing but it is going to be a guaranteed headache IMO.I do not want to see the negative in the situation but I think we can all agree some business models are just better/smarter.

3) If you think Big - then also act Big.

Can you go more into detail, I did this in the beginning and it did not work. I tried to act big and fell flat. It was only when i thought big and acted super small before things worked. I did things myself, made sure they worked... then scaled. In the beginning i thought go big right away but if your system does not work you can not act big... in my experience.

4) Always hire people who know more than you.--- Agreed 100%


5) Don't try to be a good businessmen or manager - try to be a good entrepreneur. (It is much easier to be just one)

Anything more to say on this?


My biggest issue with growth is trust with employees. Is there any advice you can give on this subject.

Employees trying to steal other employees and copy you and start their own etc...

@theBiz

Yes, doorknobs business is going to be a guaranteed headache -- I just wanted to point out that almost everything could be fastlane business.

3) If you think Big - then also act Big.

In my example - when I was thinking big and acting small this happend:

Think Big - 500,000 unique visitors/mo.
Act Small - shared hosting (instead of dedicated server)

I made a great marketing campaign and get what I want - when I get what I want my site crash down and my account was deleted. I was acting small when I was chosing hosting server before start. (Now I have dedicated server with 12GB DDR3 RAM and 2x1,500GB HDD... and prepairing new marketing campaign )


My biggest issue with growth is trust with employees. Is there any advice you can give on this subject.

Employees trying to steal other employees and copy you and start their own etc...

I remember that MJ said once something like this: "there isn't any gizmodo tool invented yet that would prevent human stupidity and laziness" - so, same here.

I think there is no universal answer or advice to this issue. Try to develop system where you can keep overall control, but do not involve in everything what they do. Give them chance to feel important, to be part of company and chance to make mistakes. - This was part where I did wrong.

If they want to copy you and start their own business - Then they are just your competitors - and they could be better than you also - thats capitalism.

But if they steal some trade secrets or whatever secret - than that is criminal - and they must be aware of that as well as the consequences.

I agree with everything FDJustin wrote

thank you everyone i appreciate all the knowledge.

I guess the smartest thing you can do to not worry about employees as much is do not drive a ferrari to the office! I know a few big shots who tell their employees their struggling and things are rough. No increase in salaries, and no one wants to be him, but behind closed doors im sure that's a real big bank account.

I can add some more. If we wanna be successful remember the process. We all need the process to have an event.
Multimillionaire Trader ----> event
Working on urself (belief,strength,temperament, weakness), Working on the trading system, understanding fundamentals and manymore ----> process

Something I've learning. The difference in being 'Rich,' and the difference in being 'Wealthy.'

A rich person is someone that comes into money fast, and not being in alignment with the power they possess, they normally spend that money on a lot of gratuitous non-scenes, and end up broke again within a very short time, also forgetting to pay taxes. We've seen this happen to a lot of instant celebrities and sports players.

A wealthy person invest in themselves, in their business, and are looking for ways to improve, expand, and grow. They have a service mentally. They share the wealth through charitable channels, and creates foundations. They are not in it to make money, they are in it to offer a service, and the wealth just seems to attach itself to them.

could someone plz update the link locations?? the links are broken

Don't be the Rule. Break the Rule and be the Exception!

Some of the most successful people in the history of the world were told many times throughout their life that what they were trying to do can't be done. If you believe it can be done, then don't let anyone or anything stop you.