Lessons Learned from The Fastlane

**Jorge** · Feb 11th, 2008, 05:55 PM

Ok, so I was thinking that this are the key points of what I've learned from all members on this forum.

I don't know if there's a thread like this one already, if so just close this one

What I learned (or things I already supossed but where confirmed by the forum)

Concepts:

- Your most important asset is your time
- Its never to late to change your life
- Where slowlaners see problems, fastlaners see opportunity
- In order to become successful, first you must know yourself
- Failure is one of the best ways to learn
- Success is more than money

Rules:
- Successful businesses are based on solving people needs
- You don't need a lot of cash to create a successful business
- Usually, if everyone is in a certain market, the opportunity has gone
- Being rich is just a consequence of good choices

As I stated, this is only my POV. I cited some threads just as a follow up to the concepts, but off course others may take another lesson from each thread.

I'm sure there are some things that I'm forgetting, you are all invited to complete this thread

Cheers!

**Yankees338** · Feb 11th, 2008, 06:06 PM

Excellent, excellent post, Jorge. Rep++++++++++++++++ (wish I could rep a post more than once

)

I'll try to think of a few more as I browse the forums tonight...

**GoldenEggs** · Feb 11th, 2008, 06:11 PM

rep+++++++++

**Yankees338** · Feb 11th, 2008, 06:16 PM

I agree with the point about failure so much that I even made a thread devoted to it!

http://www.thefastlanetomillions.com...8222#post28222

**andviv** · Feb 11th, 2008, 06:53 PM

a BIG ONE that I think is missing here is:

FOCUS
The One Trick Pony is one of the most important concepts in here, and it is easily overlooked.

**Yankees338** · Feb 11th, 2008, 06:58 PM

Originally Posted by andviv

a BIG ONE that I think is missing here is:

FOCUS
The One Trick Pony is one of the most important concepts in here, and it is easily overlooked.

Very true. Focus is definitely HUGE.

**Jorge** · Feb 11th, 2008, 07:13 PM

Thanks Andres! I don't know how I missed that thread!

But believe me that I have learned this lesson also

**Runum** · Feb 11th, 2008, 07:33 PM

Good summation Jorge! ++++ speed.

**MJDeMarco** · Feb 12th, 2008, 10:32 AM

Great thread! I thought "TFTM" was discussion about a stock ... Im gonna edit the title ... plus speed+

**Jorge** · Feb 12th, 2008, 10:36 AM

Originally Posted by PhxMJ

I thought "TFTM" was discussion about a stock ...

Maybe some day it will be?

**Diane Kennedy** · Feb 12th, 2008, 11:22 AM

Rep ++ as well. Fantastic post Jorge and perfect timing.

**Jorge** · Feb 12th, 2008, 11:45 AM

Thanks for the speed everyone!

However, more than the speed, I'm interested in knowing what have you learned from this forum.

**Poudda** · Feb 12th, 2008, 12:25 PM

This should be stickied - very good summary.

I've learned so much here, I wouldn't even know what to comment on. One big thing for me for real estate investing was Cost Per Door.

**yveskleinsky** · Feb 12th, 2008, 02:06 PM

Your belief in yourself has to be stronger than the disbelief of others.

Fastlane is not just about making money, it is about how you are making your money: create a system around a need.

There is the rat race, where you have a job and/or your expenses exceed your income (generally climbing the corporate ladder). The fast track, where passive income exceeds expenses (generally owning the ladder). Then there is the fastlane: passive income created from a system which is scalable, and achievable in a short timeframe (owning a web-based dropshipping ladder site!)

Any idea can become fastlane.

Having a community of successful, like-minded people to bounce ideas off of: priceless.

GREAT topic. Mods, can we sticky this?

**andviv** · Feb 12th, 2008, 02:24 PM

Yves, awesome post. Rep++
Yes, I think we will stick it... what forum should it be in though?

**Jorge** · Feb 12th, 2008, 05:07 PM

Thanks Yves, great concepts! rep+++

**Runum** · Feb 12th, 2008, 09:08 PM

I've learned about systems or the need for systems. I am still learning about systems. I only own 7 rental units right now and what I am seeing is that it gets more difficult to keep up with all the debts and collections with more units. Right now I can't imagine the headache for keeping up with 100+ units. So, earlier in my investing, I couldn't see the need to have a system for each aspect of the business. Now I see the need and know that I really can't grow, or shouldn't grow, until I figure out how to handle what I already have. I am making progress on it and hope to have some solid systems in place shortly. Thanks to all for promoting concepts and ideas even though I may not be mature to comprehend them yet. Good luck to all.

Greg

**Jorge** · Feb 14th, 2008, 08:32 PM

*Bump*

Nobody else learned anything?

**Russ H** · Feb 14th, 2008, 08:50 PM

Originally Posted by yveskleinsky

mods- can we sticky this?

Sure.

Also moved to General Discussion, since this is not a multi-millionaire story.

-Russ H.

**Jorge** · Feb 14th, 2008, 10:58 PM

Originally Posted by Russ H

this is not a multi-millionaire story

Its a work in progress!!

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