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GOLD Absolute Beginners Guide to TMF & TFLF

Discussion in 'General Entrepreneur Discussion' started by jockinbox, Sep 16, 2014.

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  1. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    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: http://www.thefastlaneforum.com/com...-cant-make-your-life-decisions-for-you.33485/

    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
     
    Last edited by a moderator: Jan 23, 2017
  2. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    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!
     
    Last edited by a moderator: Nov 8, 2015
  3. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    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.
     
  4. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    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,
     
  5. MoneyDoc
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    MoneyDoc Gold Contributor Speedway Pass

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    Please add @Andy Black to the list!

    Nice post. Should help out all the new people!
     
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  6. Silverhawk851
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    Silverhawk851 Platinum Contributor Speedway Pass

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    +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
     
  7. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    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
     
  8. jon.a
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    jon.a Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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  9. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    im infamous for miscategorizing people so I tried not to put anyone i wasnt 100% sure lol
     
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    GuestUser113 Guest

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  11. Iwokeup
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    Iwokeup Aut viam invenium aut faciam Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    Definitely Vigilante
     
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  12. Vigilante
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    Vigilante Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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  13. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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  14. ColtonJD91
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    ColtonJD91 Contributor Speedway Pass

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    Thanks for the great post. Very helpful after being gone for a year. Wish I had read this before starting to post again.
     
  15. Iwokeup
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    Iwokeup Aut viam invenium aut faciam Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    Great post and value add, @jockinbox. Thank you
     
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  16. integrity
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    integrity Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Gold thread. Thanks for taking the time to put this together and for the shoutout.
     
    Last edited by a moderator: Sep 17, 2014
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  17. timmy
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    timmy Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    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 .
     
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  18. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    With the software upgrade coming on Saturday I am looking at doing something like this. Already started with some of the most common questions..
     
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  19. jockinbox
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    jockinbox Gold Contributor Read Millionaire Fastlane Speedway Pass

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    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
     
  20. Nicoknowsbest
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    Nicoknowsbest "Next time, there will be no next time" - Eminem Read Millionaire Fastlane Speedway Pass

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    Hey @jockinbox! Great work, thank you for putting in the time!
     
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  21. LateStarter
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    LateStarter Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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  22. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    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.)
     
  23. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    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.

     
  24. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Last edited: Jul 11, 2016
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  25. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Bump
     
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