• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

FEATURED! Author spent 5 years interviewing 177 selfmade millionaires to find their secrets. Findings inside.

Discussion in 'General Mindset, Motivation, Beliefs' started by ChrisV, Aug 4, 2018.

  1. ChrisV
    Offline

    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,204
    Likes Received:
    1,963
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    Islands of Calleja
    Rep Bank:
    $12,429
    "Corley conducted a survey by interviewing 233 wealthy people who make $160,000 or more in annual income and hold at least $3.2 million in net liquid assets (177 of whom were self-made, coming from poverty or the middle class) and 128 poor people who make less than $35,000 per year and have less than $5,000 in assets. Over five years, Corley posed 144 questions in 20 categories to each person and saw distinct patterns emerge.”

    There are some very distinct differences that we see emerge, many having to do with self discipline. The rich are extremely disciplined. They would rather sacrifice today for a better tomorrow. The prefer $7 tomorrow to $5 right now.

    Some of his specific findings: the wealthy read constantly, exercise regularly, eat a healthy diet, hang out with other successful people, pursue their own goals, get up early, have multiple sources of income, are positive, and have great etiquette (thank-you notes, birthday cards, calls on special occasions, etc.)

    His full findings:

    [​IMG]

    [​IMG]


    [​IMG]

    [​IMG]

    [​IMG]


    [​IMG]

    [​IMG]

    [​IMG]


    [​IMG]



    [​IMG]

    [​IMG]


    [​IMG]

    [​IMG]

    [​IMG]

    You can read the rest of his work on http://richhabits.net/


    Edit 8/16/18 - This is a different Author who had similar findings:


     

    Attached Files:

    Last edited: Aug 16, 2018
  2. The EL Maven
    Offline

    The EL Maven No longer life's passenger Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    83
    Likes Received:
    254
    Joined:
    Dec 3, 2015
    Gender:
    Male
    Rep Bank:
    $1,462
    Very interesting, thank you for posting.

    It does look as though a minimum of 6% of his "rich" aren't really rich at all, but even with this potential sampling mistake, there are some categories that are really telling.
     
    c4n, Xeon, Argue and 1 other person like this.
  3. ChrisV
    Offline

    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,204
    Likes Received:
    1,963
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    Islands of Calleja
    Rep Bank:
    $12,429
    What is the 6% you're referring to?

    If you really take some time and read through them, they’re really telling. I updated the original post with the raw pdf. He also has some good books and articles out there.
     
    Xeon, Argue and ChrisR like this.
  4. masterneme
    Offline

    masterneme Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    279
    Likes Received:
    643
    Joined:
    Apr 13, 2015
    Gender:
    Male
    Rep Bank:
    $4,077
    LOL the THINKING category is f***ed up, no wonder why they're poor.
     
    Kruiser, c4n, PoGOOD and 5 others like this.
  5. ChrisR
    Offline

    ChrisR Diamond Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    150
    Likes Received:
    258
    Joined:
    Nov 11, 2017
    Gender:
    Male
    Location:
    Republic of Kekistan
    Rep Bank:
    $1,486
    Seriously one of the best threads I've seen in a long time. Lots of incredible information.

    Rep transferred!
     
    Kruiser, jetsetter883, c4n and 4 others like this.
  6. ApparentHorizon
    Offline

    ApparentHorizon Gold Contributor Speedway Pass

    Messages:
    736
    Likes Received:
    2,123
    Joined:
    Apr 1, 2016
    Location:
    Greenville, SC
    Rep Bank:
    $7,945
    The Stanford Marshmallow Experiment covers this with kids.

    You put the marshmallow on a table, and you say. You can either have 1 now, or 2 later.

    The ones who waited, had better outcomes later in life.
     
    Brad S, Hurley32533, TheCj and 14 others like this.
  7. ChrisV
    Offline

    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,204
    Likes Received:
    1,963
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    Islands of Calleja
    Rep Bank:
    $12,429
    Yes, the Stanford Marshmallow experiment was a topic of my study for a long long time. I was planning on writing a thread on that as well. In relation to this thread, while self-discipline is part of Thomas Corley’s research.. it goes way more into depth than that. But Self-Discipline seems to be at the core.
     
    c4n, Xeon, W. Sabria and 6 others like this.
  8. rogue synthetic
    Offline

    rogue synthetic * Not actually Rutger Hauer Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    289
    Likes Received:
    877
    Joined:
    Aug 2, 2017
    Gender:
    Male
    Location:
    New Zealand
    Rep Bank:
    $5,632
    There are some gems here in the patterns on 'rich people' side. It's even more interesting to look at the contrast between the two.
     
    Get Right, c4n, Huracan and 5 others like this.
  9. ChrisV
    Offline

    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,204
    Likes Received:
    1,963
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    Islands of Calleja
    Rep Bank:
    $12,429
    That’s where I found 90% of the value in this. One of the things I found interesting was how frugal Self-Made Wealthy are. It’s funny because people think that the wealthy just throw money around, but it was the opposite. 0% of the Self-Made said they would buy a new car, most of them carried Credit Cards that offered reward points, etc. The patterns I noted was that the wealthy were almost obsessively focused on profits, no matter where they could get them. They milked every gain and minimized every loss, Rich-Dad/Poor-Dad style. Which may sound obvious, but it’s funny how the public thinks that the rich throw around money, when in reality it’s the opposite.
     
    Last edited: Aug 4, 2018
    lucasb, Brad S, Aunt Clyde and 7 others like this.
  10. luniac
    Offline

    luniac Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,423
    Likes Received:
    2,011
    Joined:
    Dec 7, 2012
    Gender:
    Male
    Location:
    brooklyn
    Rep Bank:
    $11,560
    only 1% below 40, since this the demographic a lot of us are aiming for, im dissapointed.
     
  11. G. Wellthy
    Offline

    G. Wellthy New Contributor Read Millionaire Fastlane

    Messages:
    14
    Likes Received:
    15
    Joined:
    Jul 21, 2018
    Gender:
    Male
    Rep Bank:
    $66
    It is not possible that 100% of Rich self-made respondents have a CPA... that must be a typo. My experience is that most self-made rich are driven intrinsically and a CPA is a classic "my parents think I should go slave away in a big accounting firm for four (?) years because it is a great security blanket" way of thinking (certainly not FL thinking!)
     
    Xeon, LynetteP, Argue and 1 other person like this.
  12. Argue
    Offline

    Argue Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    646
    Likes Received:
    2,265
    Joined:
    Oct 1, 2016
    Gender:
    Male
    Location:
    NYC
    Rep Bank:
    $15,505
    Ah this is perfect. Great description of the sidewalk, slow lane, and fast lane methodologies.
     
    Xeon, ChrisR and ZF Lee like this.
  13. Velocke
    Offline

    Velocke Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    14
    Likes Received:
    42
    Joined:
    May 22, 2018
    Rep Bank:
    $218
    I thought something similar at first. Then I figured that means they use the services of a CPA, not that they personally have the credential.
     
    ChrisV, Johnny Bravo, Mbc and 9 others like this.
  14. GoGetter24
    Offline

    GoGetter24 Gold Contributor Speedway Pass

    Messages:
    560
    Likes Received:
    1,006
    Joined:
    Oct 8, 2017
    Gender:
    Male
    Location:
    Various
    Rep Bank:
    $4,293
    Nice. I thought these were insightful:

    bought a used car
    alcohol
    exercise
    read biographies of successful people
    lying is part of wealth creation

    And especially this one:
    learned good success habits from parents

    As I always say: you have no choice if you inherit shit genes from your parents, but you do have a choice where you inherit your ideas from. If your parents are shit, rebel and get guidance elsewhere from the wisest you can as soon as possible.
     
  15. Kak
    Offline

    Kak Capitalist Swine Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    4,964
    Likes Received:
    17,689
    Joined:
    Jan 23, 2011
    Rep Bank:
    $23,992
    I see a lot of examples of locus of control there.
     
  16. SquatchMan
    Offline

    SquatchMan Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    423
    Likes Received:
    1,514
    Joined:
    Dec 27, 2016
    Gender:
    Male
    Location:
    Nowhere
    Rep Bank:
    $1,500
    Unhappy Due to Finances
    Rich: 0%
    Poor: 98%

    How many of those 98% say that money can't buy happiness?

    "Having a Certified Public Accountant (CPA)" generally refers to using the services of a CPA, which makes much more sense than 100% of wealthy people "being a Certified Public Accountant."
     
  17. ChrisV
    Offline

    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,204
    Likes Received:
    1,963
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    Islands of Calleja
    Rep Bank:
    $12,429
    I think this is why you get a lot of guys on here like “I tried but I just can’t do this!” ... They just don’t have the inner stuff figured out yet.
     
    Captain04, Kruiser, ChrisR and 7 others like this.
  18. ZF Lee
    Offline

    ZF Lee Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    1,656
    Likes Received:
    2,827
    Joined:
    Jul 27, 2016
    Gender:
    Male
    Location:
    Malaysia
    Rep Bank:
    $8,696
    The survey didn't cover the younger folks anyway.
    Folks our age are less likely to get up to speed with networking, formation of growth mindset principles and others. Apparently society is still SCRIPTED to believe that 20-30 year olds are to be somewhat green and naive.


    But the patterns in great habits and usage of assets like relationships, networking and good hobbies are excellent benchmarks for us to aim for.

    I didn't expect the survey to cover specific choices, like luck and work ethic. Whoever did the survey gets my respect for the thorough job. I've seen too many surveys go bland and biased.

    I'm happy to get some boxes ticked off for my case, according to the findings. I think there is still room for me to level up on business relationships, management of credit cards (mostly should be directed to set up credit lines for business, something to think of later) and physical exercise though.
     
    Tom.V, Xeon, LynetteP and 7 others like this.
  19. Merging Left
    Offline

    Merging Left Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    312
    Likes Received:
    575
    Joined:
    Jul 20, 2014
    Gender:
    Male
    Rep Bank:
    $3,573
    This is the tidbit that stood out the most to me:
    upload_2018-8-6_9-13-13.png

    I think that's fascinating, especially given how many of us on this forum, myself included, are trying to go it alone.

    Perhaps networking is the most critical skill for building wealth...
     
  20. MJ DeMarco
    Offline

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

    Messages:
    27,418
    Likes Received:
    88,317
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $374,504
    Admin Post
    But you aren't going it alone, that's why you're here. That's why you read books.
     
    rwhyan, Rearden, Rodrickee and 38 others like this.
  21. GPM
    Offline

    GPM Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    550
    Likes Received:
    2,092
    Joined:
    Oct 25, 2012
    Gender:
    Male
    Location:
    Canada
    Rep Bank:
    $25,986
    Essentially using this forum and finding like minded individuals IS like having a mentor of sorts. Compare this to never knowing anyone ever.

    The biggest take away for me are how they "think" about being rich. Poor believe in chance luck, rich believe in working hard to make your luck. Huge locus of control here.

    Also reading. Reading changes the world. By choosing to read you can literally unlock all the knowledge that the world has ever had EVER. By choosing not to read you are skipping all that, for whatever bonehead reason. "I don't read", "I don't like to read" = lazy and ignorant. There is no way around that.
     
  22. Fox
    Offline

    Fox Moderator Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,728
    Likes Received:
    12,367
    Joined:
    Aug 19, 2015
    Gender:
    Male
    Location:
    Mexico
    Rep Bank:
    $76,369
    Interesting to see the influence of parents, mentors, and connections.

    You become what you surround yourself with - choose wisely.
     
  23. Argue
    Offline

    Argue Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    646
    Likes Received:
    2,265
    Joined:
    Oct 1, 2016
    Gender:
    Male
    Location:
    NYC
    Rep Bank:
    $15,505
    Cliche but this forum is my mentor. I learned so much during my stay. Still learning, too.
     
  24. ZCP
    Offline

    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    2,123
    Likes Received:
    6,631
    Joined:
    Oct 22, 2010
    Gender:
    Male
    Location:
    Woodstock, GA
    Rep Bank:
    $25,255
    If you are on this forum and have not reached out to a possible mentor or joined a group that is holding each other accountable, why not?!?!
     
    Storm24, ChrisR, 404profound and 7 others like this.
  25. Invictus
    Offline

    Invictus Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    200
    Likes Received:
    682
    Joined:
    Apr 6, 2016
    Gender:
    Male
    Location:
    Louisiana
    Rep Bank:
    $1,497
    This caught my eye immediately.

    [​IMG]


    That picture is worth a million words.

    Not going to analyze it, but what I find just as interesting as who says the American Dream is no longer possible is who says the American Dream means home ownership.
     
    sdbrownlie, Johnny Bravo, GSF and 7 others like this.

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page