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GOLD! Are You Driving a Fastlane ... or Riding It?

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MJ DeMarco

MJ DeMarco

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I did it internally/in house. I did join an affiliate house years ago but most of those applicants were scammers/personal web pages/china sweat shops/ etc. I canceled that after a few months.

I had no problems being taken seriously, especially since we paid timely every single month, month after month - and offered good reporting.
 

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ryanpal

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I did it internally/in house. I did join an affiliate house years ago but most of those applicants were scammers/personal web pages/china sweat shops/ etc. I canceled that after a few months.

I had no problems being taken seriously, especially since we paid timely every single month, month after month - and offered good reporting.
exactly what i thought! from my other thread i was trying to find out the right way to go about implementing. would you mind sharing a little more details about this affiliate program you provided? i'm debating outsourcing it to be created or just purchasing software to do it for me.
 

SweetJones

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May 1, 2009
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How many times do you hear about entrepreneurs who slave months and years away to build a huge company, then sell it for gazillions ... then later post sale, awash in millions of cash, that same entrepreneur invests in 10 different companies. FOCUS then DIVERSIFY.
Potential Book?:thumbsup:
 

lightweight99

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Awesome post MJ.

My original plan was to do both web site development and real estate but after reading your post I completely understand. 110% dedication in one area will lead to fast development and therefore the fastlane much quicker compared to pursuing two investment vehicles that will require 50% a piece.

Thanks again MJ :hammertime:
 
G

Guest3722A

Guest
Drivers of the Fastlane have such control -- passengers do not.
Here is where I lost it all and then some as I was always under the impression that a business and the building it operates in should be two separate businesses. The "landlord" of the building I was leasing wouldn't fix his roof and some of my clients suffered greatly because of it and it all ended up in court. :smx6::smx8:
 

emorgan

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Jul 24, 2007
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This idea is something I have been kicking around for myself recently.

I'm helping to build a business that is essentially someone else's- however I get a percentage. I'm very good at what I'm doing, and I'm considering opening my own offices, after I learn the business more.

Do I just use this as a stepping stone, a money wheel to make money that I can invest in my true "fast track" businesses? Or should I consider developing my own site/business and make this my "fast track" business?

I'm torn.
 

moop

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Jun 1, 2010
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It depends. Are you making decent money from this venture? Perhaps you could gather more experience and establish a firm. It would be quite lengthy, compared to other businesses, but it would most certainly be fastlane
 

SaraK

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Apr 25, 2008
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This idea is something I have been kicking around for myself recently.

I'm helping to build a business that is essentially someone else's- however I get a percentage. I'm very good at what I'm doing, and I'm considering opening my own offices, after I learn the business more.

Do I just use this as a stepping stone, a money wheel to make money that I can invest in my true "fast track" businesses? Or should I consider developing my own site/business and make this my "fast track" business?

I'm torn.
I tried starting a graphic design business to build income because that was what I knew how to do, but then realized that I just wasn't passionate enough about it. The thing about building a business, as you may know, is that it's a 24/7 kind of thing, you can't just quit at 5 o'clock and go home like with a job. So for me being passionate about the business is key.

Not sure if this helps in your situation - do you really enjoy the kind of business you are building for someone else? How does that compare to the other business you are thinking of starting?
 

emorgan

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The business I'm currently in is just a wave to ride- a fun one- but a wave. It's not my passion, but it makes money :)
 

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MCD

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MJ please don't take this as me trying to challenge you I am simply curious for anyones response.

So is franchising really not fastlane at all? Is there anyway you can make franchises fastlane because I know plenty of people that make good money through them. I even know someone (not personally) who owns exxon mobil, 7-eleven, BP and Shell stations who makes big money. You can google him his name is Sammy ElJamal and I think he owns over 250 locations now and is still only 30ish. Which makes something fastlane, making big money or working under no one? I assume working for yourself isn't fastlane if you aren't making big money, but what about someone like ElJamal who earns millions a year yet doesn't work for himself?
 
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lexcan

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Mar 24, 2011
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MJ please don't take this as me trying to challenge you I am simply curious for anyones response.

So is franchising really not fastlane at all? Is there anyway you can make franchises fastlane because I know plenty of people that make good money through them. I even know someone (not personally) who owns exxon mobil, 7-eleven, BP and Shell stations who makes big money. You can google him his name is Sammy ElJamal and I think he owns over 250 locations now and is still only 30ish. Which makes something fastlane, making big money or working under no one? I assume working for yourself isn't fastlane if you aren't making big money, but what about someone like ElJamal who earns millions a year yet doesn't work for himself?

I think that ElJamal is definitely Fastlane. One of the major predicaments with Fastlane is about scale and magnitude, not always primarily about direct control. If this guy owns over 250 locations of all different kinds, he's probably in a position where he gets to participate in any corporate changes, simply because of the sheer amount of money he controls and brings in to the parent organizations. At the very least he is consulted at that level. If you are a majority shareholder of a company, they eventually contact you to get to know you and see if you can add to running the organization. Franchisee can be in a Fastlane and he is the perfect example of that. He has scale and magnitude, moreso, he has diversification and controls a large market share of retail outlets, yeah I'd say he's def running a successful human resource system.

a.b.
 
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MJ DeMarco

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So is franchising really not fastlane at all?
Awesome question!

It depends on the franchise ... you mentioned BP, Shell, and 7-Eleven -- all of these have BUILT-IN DEMAND. Same goes for other high profile franchises ... like McDonalds. So to answer your question, YES, some Franchises can be Fastlane (even with the Control violation) simply because of the BRAND behind the franchise. You can throw a McDonalds on any corner and I can guarantee you it will be profitable..

Unfortunately, any franchise worth buying typically has a 6-figure startup investment along with other huge net-worth requirements. . . in other words, you can't walk into McDonalds corporate and request a franchise.

Put it this way ... the stronger the brand of the franchise, the more Fastlane it is because the barriers to ENTRY are stronger, and in many cases, reserved for those already with substantial net worth.
 

Investfourmore

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Great post. I worked with my parents for years on their real estate team. They took care of all the bills and paid staff and I made good money. I bought them out this September and I am in process of making great money by running an 8 person team.
I have the control and everything is going awesome.
 

jeandearme

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May 2, 2011
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And that's the problem with mobile apps industry. For Android, it's Google Play. For iOS - it's AppStore. Your app must go through someone's hand and if it will pass their examination then You are allowed to earn some money. Still, recently one of my apps was banned due to unknown reasons (yep, they are not obligated to do say the reason) without any warning whatsoever. Lost from it appx. 100 euro/month, but I just imagined what I would do if it would be let's say 10x or 100x more (100 euro/month it's not so much). What's Your point of view on this?
 

Lakeview

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Build a company that is sustainable and then it will become profitable. To go even further, to the degree it sustains establishes it's value and ultimately....profitability!
 

Andy Black

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"Focus, then diversify."

Love it.
 

Mattie

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hmm...my mind has been in the fast lane for the last year. Driving a Jaguar. The process the process. I make lots of progress. My bf laughs at my a$$ because I study all day on different topics, write on my novel, learning to build a website that probably sucks at the moment, because I don't know what the hell I'm doing, and counseling online. Listen to audio books at night until I fall asleep about leadership, and even your nice voice on you tube. lol I've been doing this wild style for the last four years. The last year has been the best because I moved to the Netherlands and got rid of all the negatives. So I found you to get me there even faster. Action! Action! Action! Umm...It's time to turn this into money...I'm a one woman army! The only support I have is this forum. lol But I have to say my consciousness is shifting and I've only been on here for a few days. I hate when that brain gets stuck between gears going lord...how messed up is this dam world. The b.s. The b.s. Then I get mad for a moment. Then focus! focus! focus! The process! I want the Jaguar now! lol Like yesterday. Like five minutes ago.
 

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chipmx

Contributor
Read Millionaire Fastlane
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Sep 16, 2014
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Cancun
I tried starting a graphic design business to build income because that was what I knew how to do, but then realized that I just wasn't passionate enough about it. The thing about building a business, as you may know, is that it's a 24/7 kind of thing, you can't just quit at 5 o'clock and go home like with a job. So for me being passionate about the business is key.

Not sure if this helps in your situation - do you really enjoy the kind of business you are building for someone else? How does that compare to the other business you are thinking of starting?
I use to start bussiness like that, until I read some interesting stuff like this " The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It"
 

MotiveInMotion

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Awesome post here MJ; I've been thinking about control a lot lately!

I understand that you should really control everything in your business, the website, the customers, the list, the marketing etc.

That said, I would love to know where it would end?

If you're selling physical products, you'll need a supplier and freight, should you control the factories? You'll need marketing through big channels like Google / FB, even old school cold-calling, how could you control every aspect?

I'm just wondering how far up the chain it goes, and obviously it depends on the business model and niche of course.

Thanks for the insight
 

welshmin

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F'in A man. Never rely on one source of income, or one that can be taken away.

This helps solidify my long-term plan - licensing to raise funds then manufacturing and selling the products myself.

It's one thing to sell an idea and collect a royalty check, it's another to manufacture and sell from start to finish. Not sure if there's any tighter form of control than that.
 
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Holdy

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Jun 27, 2018
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Wow.

Thanks, MJ... This post hit me right between the eyes. Game and Life Changer!

So true and obvious at times, but amazing how a person can let himself slip back into that comfort zone "safety" coma for such long periods. Makes a guy feel ashamed
 

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