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
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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Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
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