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GOLD! Absolute Beginners Guide to TMF & TFLF

jockinbox

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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: GOLD! - Sorry, But the Forum Can't Make Your Life Decisions For You!!

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
 

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jockinbox

jockinbox

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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!
 
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MJ DeMarco

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Thanks for posting this, very nice TL;DR for TMF, and the forum.

Chances of a startup succeeding 10-30%
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.
 
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jockinbox

jockinbox

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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.
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,
 

Silverhawk851

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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
 
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jockinbox

jockinbox

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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
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
 

Iwokeup

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Definitely Vigilante
 

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Vigilante

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jockinbox

jockinbox

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integrity

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Gold thread. Thanks for taking the time to put this together and for the shoutout.
 
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timmy

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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 .
 

MJ DeMarco

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here's a definitive guide on The Millionaire Fastlane & The Fast Lane Forum
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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jockinbox

jockinbox

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With the software upgrade coming on Saturday I am looking at doing something like this. Already started with some of the most common questions..
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
 

LateStarter

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Andy Black

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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.)
 
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Andy Black

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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.

 
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Andy Black

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Andy Black

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Bump
 

Andy Black

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Newbie here, grealty appreciate the post here. Thank you for the list of folks to follow and learn from, ready to dive in.
Welcome. Thanks for following.

Good for you for showing appreciation and giving thanks already. That's a great start. :)
 

Scot

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Thanks for bumping this Andy. I already managed to sift through a lot of this, but that list of must follow contributors definitely helped. I agree with everyone earlier, this should be a must read upon signing up!

While he's new to the forum @Chris Kelsey shoild definitely be added for his great knowledge on app developing.
 

Andy Black

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Bump.

(I must add a link to this post in my signature so I can easily point people to it...)
 

ZF Lee

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Rep transfer! I need this. This forum is sooooo big. Takes me some time to get around. Seriously this thread needs to be on the front! Even if this is a gold, I should have gotten to it earlier.
 

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