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BOOK RANT: ' Tiny Business Big Money ' -- PROS and CONS!

fastlane_dad

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Anybody read it? It attempts to do and instill (the philosophy and mindset) what MJs books do, but without ANY substance.

Just pointless platitudes with nonstop random examples of those that have created 'Fastlane Businesses' and are either still IN THEM or have sold!

I got through half and had to put it down, absolutely driest book I have came across in business sense and writing.

The only sliver of sunshine for me in the book was reading @biophase journey described in the book in some detail!

Otherwise, I'd only read it if you are completely lost on ideas of what your fastlane business can be, as this highlights examples and stories from a variety of industries, backgrounds and skills.

I did not even enjoy the way the stories about the individuals were told, and many times it made 'FASTLANE' seem accidental rather than intentional (....BOB never planner on being an entrepreneur but then an injury forced him to look for other ways to make money...)

Some examples are also not very clear, I had to look up exactly what the business was and whether there was any substance behind it. I believe this book introduces more confusion into clearer thinking rather then spurring you into action.

GIANT SKIP!!!
 
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Mathuin

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Whilst I'm sure there is some value in hearing how the entrepreneurs built their businesses, I don't like reading books written by "consultants", "small business specialists", "business journalists" etc.

I've read her 'About' section on her website, other than her books on how to build a business, she's never built a business.

Her Amazon book description says, "Elaine Pofeldt offers her blueprint for getting a running start with your microbusiness--that is, a business with no more than 20 employees, including yourself."

Armchair QB of the business world.

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fastlane_dad

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I've read her 'About' section on her website, other than her books on how to build a business, she's never built a business.
THIS ^^

But also, I don't think WRITING is her forte either.

Rattling off basic stories that 'yeah there's people making a living selling gadgets and trinkets online' - will not win any of my awards or recommendations.
 

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I bought it because of Biophase's inclusion in it.

I think it's important to view books like this in their best context - if you were interested in possibly starting a business, didn't know where to start, didn't know what others did or what was possible, etc... Well then this book is basically page after page of success stories and inspiration. It's GREAT at showing all kinds of different small businesses in different industries with different ways of doing business with founders from all different walks of life.

What it's not good at is guiding you... at all. The book has hints and tips and strategies littered between chapters but they really are some of the least useful examples I've seen in a business book. Similar to a photo of an appetizer - it looks good and I get what they are trying to do but there's really nothing to satisfy you there.

Glad I bought and read it but the target audience for this book would be the kind of person who asks "How do you be an entrepreneur? What is it like? What are others doing?" Which, to be fair, there is no shortage of.
 
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MTF

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I posted about it in the book thread in May:

View attachment 43466

Just finished reading. It features some interesting stories of solopreneurs and/or small businesses that make a lot of money without working a lot. @biophase is also featured in this book.

Main pros: some unique examples of cool businesses and honest experiences including both successes and failures

Main cons: C19 was mentioned on almost every single page - how it affected each business, how it sucked, how they had to adapt, how people's behavior changed, how to protect your business from another C19 blah blah blah. It was so tedious that this book was pretty much destined to fail commercially as it has zero longevity.

Almost as a rule, books written by journalists aren't that good and that's the case here as well. Her area of interest is cool but it works better as individual articles.
 

fastlane_dad

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I posted about it in the book thread in May:



Almost as a rule, books written by journalists aren't that good and that's the case here as well. Her area of interest is cool but it works better as individual articles.
Yes - it would work better as a one-two page article (on yahoo or otherwise) with the other 270 pages erased and forgotten.

As @JAJT mentioned maybe it's good inspiration for a true beginner or someone that doesn't know a single person running a 'business' - but does that truly exist anymore in the 2022 land of clickbait articles, instagram, youtube and countless other stories , forums and blogs posted around the web?
 

MJ DeMarco

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So my next book (Unscripted , Book 3) was going to be actual stories of people who live Unscripted through the power of Fastlane entrepreneurship.

What went wrong with this book? Were the stories poorly told? Not enough actionable wisdom from the entrepreneurs? I always thought stories from those "who done it" were the best teaching tools.

I don't want to make the same mistake.
 
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G

Guest-5ty5s4

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So my next book (Unscripted , Book 3) was going to be actual stories of people who live Unscripted through the power of Fastlane entrepreneurship.

What went wrong with this book? Were the stories poorly told? Not enough actionable wisdom from the entrepreneurs? I always thought stories from those "who done it" were the best teaching tools.

I don't want to make the same mistake.
I would love this book! If you did it, I know it would be executed well MJ.
 

fastlane_dad

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So my next book (Unscripted , Book 3) was going to be actual stories of people who live Unscripted through the power of Fastlane entrepreneurship.

What went wrong with this book? Were the stories poorly told? Not enough actionable wisdom from the entrepreneurs? I always thought stories from those "who done it" were the best teaching tools.

I don't want to make the same mistake.
@MJ DeMarco

The examples were very impersonal, repetitive, and did not show much of the 'trials and tribulations' of what the entrepreneurship life and struggle is all about.

Having gone through close to 20 years of the startup/business trials , failures and successes - the examples made it seem like you just throw some gizmos or tshirts up and it starts raining money (as almost all the businesses profiled are $1MIL+ in revenue). Nowhere in there does it really touch on CENTS, or if it does, it is not spelled out very clear.

I feel like a MUCH better approach would of been keeping it down to 3-4 stories, in different facets of business, and the struggles and tribulations that the founders went through. You did an EXCELLENT example of this in your latest book, sticking to ONE story - even though it was a FICTITIOUS one, it resonated SO MUCH better to what myself and @NeoDialectic went through for many many years. She also tries to intervene 'lessons' and 'principles' but a FAR cry from what your philosophy and mindset tries to instill.

There was almost NO 'actionable wisdom' from the entrepreneurs thrown into the mix. Just a poor rehash of what would be best fit and left to YAHOO clickbait articles of all these 'accidental millionaires' that didn't set out to become that (in several of the stories showcased).

Read the first chapter or two if you are so inclined. The other half book follows in same fashion, and that's where I left it.

I think your next idea for the book is great, and this was one example of what not to do, if you would like to take a peek.
 
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Nate_34

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Anybody read it? It attempts to do and instill (the philosophy and mindset) what MJs books do, but without ANY substance.

Just pointless platitudes with nonstop random examples of those that have created 'Fastlane Businesses' and are either still IN THEM or have sold!

I got through half and had to put it down, absolutely driest book I have came across in business sense and writing.

The only sliver of sunshine for me in the book was reading @biophase journey described in the book in some detail!

Otherwise, I'd only read it if you are completely lost on ideas of what your fastlane business can be, as this highlights examples and stories from a variety of industries, backgrounds and skills.

I did not even enjoy the way the stories about the individuals were told, and many times it made 'FASTLANE' seem accidental rather than intentional (....BOB never planner on being an entrepreneur but then an injury forced him to look for other ways to make money...)

Some examples are also not very clear, I had to look up exactly what the business was and whether there was any substance behind it. I believe this book introduces more confusion into clearer thinking rather then spurring you into action.

GIANT SKIP!!!
I'm glad to hear that you're reading and very appreciative that you're sharing your feedback so that we can avoid a stinker. Sounds like the Two Dads author... summarizes others' accomplishments, claims to have some 'inside knowledge' and their only success is selling platitudes as original thinking. Anything you've read that you do recommend?
 
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Aditya Gunjal

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@MJ DeMarco

The examples were very impersonal, repetitive, and did not show much of the 'trials and tribulations' of what the entrepreneurship life and struggle is all about.

Having gone through close to 20 years of the startup/business trials and tribulations myself - the examples made it seem like you just throw some gizmos or tshirts up and it starts raining money (as almost all the businesses profiled are $1MIL+ in revenue). Nowhere in there does it really touch on CENTS, or if it does, it is not spelled out very clear.

I feel like a MUCH better approach would of been keeping it down to 3-4 stories, in different facets of business, and the struggles and tribulations that the founders went through. You did an EXCELLENT example of this in your latest book, sticking to ONE story - even though it was a FICTITIOUS one, it resonated SO MUCH better to what myself and @NeoDialectic went through for many many years. She also tries to intervene 'lessons' and 'principles' but a FAR cry from what your philosophy and mindset tries to instill.

There was almost NO 'actionable wisdom' from the entrepreneurs thrown into the mix. Just a poor rehash of what would be best fit and left to YAHOO clickbait articles of all these 'accidental millionaires' that didn't set out to become that (in several of the stories showcased).

Read the first chapter or two if you are so inclined. The other half book follows in same fashion, and that's where I left it.

I think your next idea for the book is great, and this was one example of what not to do, if you would like to take a peek.
Yes i would be interested in such book too. The core of the book should revolve around 2 3 stories of entrepreneurs who built it from nothing and should be able to show all the piles of problems they went through to get there. And yes, the stories should be of people who actually invented something or upgraded something rahter than conventional businesses.
 

MJ DeMarco

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@MJ DeMarco

The examples were very impersonal, repetitive, and did not show much of the 'trials and tribulations' of what the entrepreneurship life and struggle is all about.

Having gone through close to 20 years of the startup/business trials , failures and successes - the examples made it seem like you just throw some gizmos or tshirts up and it starts raining money (as almost all the businesses profiled are $1MIL+ in revenue). Nowhere in there does it really touch on CENTS, or if it does, it is not spelled out very clear.

I feel like a MUCH better approach would of been keeping it down to 3-4 stories, in different facets of business, and the struggles and tribulations that the founders went through. You did an EXCELLENT example of this in your latest book, sticking to ONE story - even though it was a FICTITIOUS one, it resonated SO MUCH better to what myself and @NeoDialectic went through for many many years. She also tries to intervene 'lessons' and 'principles' but a FAR cry from what your philosophy and mindset tries to instill.

There was almost NO 'actionable wisdom' from the entrepreneurs thrown into the mix. Just a poor rehash of what would be best fit and left to YAHOO clickbait articles of all these 'accidental millionaires' that didn't set out to become that (in several of the stories showcased).

Read the first chapter or two if you are so inclined. The other half book follows in same fashion, and that's where I left it.

I think your next idea for the book is great, and this was one example of what not to do, if you would like to take a peek.

So if YOU were going to be featured in this book, what are good questions I can ask? Questions that would yield good answers to the reader?

I'd like to create a boilerplate questionnaire, but the questions have to be rock solid to deliver the most value to the reader.

Describe some of your early failures?
Describe when you nearly gave up?
 

Aditya Gunjal

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So if YOU were going to be featured in this book, what are good questions I can ask? Questions that would yield good answers to the reader?

I'd like to create a boilerplate questionnaire, but the questions have to be rock solid to deliver the most value to the reader.

Describe some of your early failures?
Describe when you nearly gave up?
Some questions i would like to ask-
1 How much stress you have to endure/withstand in order to achieve something and how do you deal with it?
2 Many people say you have to sacrifice comfort so which comforts have you sacrificed?
3 Was your health affected by the efforts you made to create business (physical and mental)?
 
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biophase

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So if YOU were going to be featured in this book, what are good questions I can ask? Questions that would yield good answers to the reader?

I'd like to create a boilerplate questionnaire, but the questions have to be rock solid to deliver the most value to the reader.

Describe some of your early failures?
Describe when you nearly gave up?
I think you’d have to do a podcast interview where you just have a conversation, like joe Rogan style podcast that would last 1-2 hours, and then take the most interesting stories out of there.

Because sometimes what I think was a hard time could be very boring to others and what I think was a insignificant incident could be super interesting to others.
 

fastlane_dad

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So if YOU were going to be featured in this book, what are good questions I can ask? Questions that would yield good answers to the reader?

I'd like to create a boilerplate questionnaire, but the questions have to be rock solid to deliver the most value to the reader.

Describe some of your early failures?
Describe when you nearly gave up?
I guess my question would be what would you be trying to show the readers in this book, specifically that was not highlighted in the Great Rat Race Escape ? More real-life examples? Common themes to those who had 'success'? What were the biggest pain points along the journey?

Some of the questions (and answers) that I would have, revolve not only around my WHYS, but also around your CENTS framework and how the business was built around those...i.e.

- What made me want to pursue a life of entrepreneurship in the first place

- Why did ONE idea work out, but not countless others

- What was the sauce/rub behind making our business a success

- If business is sold/exit - how do you know when is the right time to sell

- Biggest obstacles and biggest wins

- My mindset behind perseverance to keep going (or any successful business owners), why and HOW to view and actually enjoy the journey (my examples would be enjoying seeing building something, learning new skills, getting first converting customer, showing value in the marketplace, etc). There are countless ways to 'lose weight' as well, but many times the one that ends up working is adjusting towards a certain mindset or set of principles to keep the journey alive, and perseverance day in day out strong. THIS part especially needs to resonate with people as this solo trait would be at the forefront of all lists on why individuals and companies succeed vs others falling off.

- Showing and asking how its OK to not know it all, have a clear sense of direction, being a 'fool' starting off, experimenting and facing critique and criticism from all those around you (mine is highlighted in this thread here )

- But most importantly also teaching and showing the reader on how to deal with the emotional day to day roller-coaster or things working or not working the way you expect. Sometimes that can involve financial loss, friendship loss, family loss etc. It takes a toll in all ways - and EVERY person who has climbed their way to the top has dealt with many if not all of those.

I'm sure I can brainstorm countless others but most important these stories or journeys need to connect on a personal level to the reader to be able to shift values, mindsets that spur actions to follow.
 

fastlane_dad

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I think you’d have to do a podcast interview where you just have a conversation, like joe Rogan style podcast that would last 1-2 hours, and then take the most interesting stories out of there.

Because sometimes what I think was a hard time could be very boring to others and what I think was a insignificant incident could be super interesting to others.
Yes many times long form interviews convey a much more personal feeling to what the journey was like. Reminds me of a podcast currently running ('How I Built This' with Guy Raz) .
 
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NeoDialectic

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So if YOU were going to be featured in this book, what are good questions I can ask? Questions that would yield good answers to the reader?

I'd like to create a boilerplate questionnaire, but the questions have to be rock solid to deliver the most value to the reader.

Describe some of your early failures?
Describe when you nearly gave up?
This is a very tough needle to thread.

I think by asking "what are good questions to ask", you aren't actually getting to the bottom of the problem to why these types of books aren't great. The questions are the easy part. It's not that the questions are bad, it's that the medium (10 stories of people that did it, and so can you) almost necessarily has to shirk proper character development for brevities sake. At a certain point, you are left with the facts but none of the context that is required to actually learn the lesson.

Since there is so much unknown in entrepreneurship, what we are trying to convey is more like an art than a scientific formula. The books job is to hone the readers business acumen. The ultimate goal is to make him be able to feel innately that something is on the right track. Let's be honest, with smart individuals, explanations are usually post-hoc rationalizations. @fastlane_dad and I typically know when someone is on the right track with business, even when we can't exactly accurately verbalize it. Verbalizing it correctly is something we are working on. You are obviously much farther along this journey (evidence: your books teaching the principles).

The brilliance in your Unscripted story was how accurately you were able to depict a believable story that incorporated all the lessons you preach. The reader is given multiple chances to empathise with the characters situation. They feel the up's and down's because they are able to actually relate to the character.

So for example in your current book, we find out how Jeff wastes money on the print-on-demand (POD) tshirt business. The story/conditions leading up to it , the results of him going through it, and the disappointment/reconciliation afterwards allow us to see how we too could fall into the trap and how we too need to look out for pitfalls. First some part of the story engages our senses to feel like we could be (or were!) Jeff ourselves, and then after that buy in, we are shown what happens.

Knowing the entire story, we can use the context to actually see why it was a bad idea for Jeff to start a POD tshirt business, while it may have been right in a different situation. We all know there are POD tshirt businesses that are currently making millions after all! So it's not just the idea itself that is bad. Unfortunately what happens when you have to condense someones story down to a chapter/interview, is that only the principle remains without the necessary context. It becomes: "So Jeff, can you describe a failure? Sure, I was an idiot and tried to start a POD tshirt business. Obviously it was a bad idea and I wasn't true to the CENTS principles. I mean, did anyone really need another tshirt POD option!". I read that and walk away thinking, "duh. I wouldn't do that!". I don't think I would integrate the principle into an actionable idea in my head the same way as I would from your original version.

So now we are back to the problem.... How can you present people like us and our stories in a way that engages the reader without writing a book length chapter for each person. I don't have a concrete answer, but an idea of one way you could possibly do it comes to mind. What if you thoroughly interview X amount of people like you already wanted to. Make the actual book chapters the principles you are trying to portray. Then fit the entrepreneur to the principle. If Bob did X principle very well or had a good story of learning it... In interview form, you would take the reader down the journey of Bob's journey as it relates to X principle, from start to finish.

Disclaimer: I am not a professional writer. I am not even an amateur writer!
 
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fastlane_dad

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So now we are back to the problem.... How can you present people like us and our stories in a way that engages the reader without writing a book length chapter for each person. I don't have a concrete answer, but an idea of one way you could possibly do it comes to mind. What if you thoroughly interview X amount of people like you already wanted to. Make the actual book chapters the principles you are trying to portray. Then fit the entrepreneur to the principle. If Bob did X principle very well or had a good story of learning it... In interview form, you would take the reader down the journey of Bob's journey as it relates to X principle, from start to finish.

That sounds brilliant - and I've seen a number of books do similar, just not in the entrepreneurship / business world.

There are definitely plenty of tenets of entrepreneurship that are common between each success story (we can take grit, dedication, value skews, leadership, process, risk, business partners/investors, etc) - and pair that with specific entrepreneur stories outlining various examples of how all these come about. Potentially even successes AND failures. Maybe dead ends that went nowhere.

@MJ DeMarco any further thoughts on the subject?
 

MJ DeMarco

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That sounds brilliant - and I've seen a number of books do similar, just not in the entrepreneurship / business world.

There are definitely plenty of tenets of entrepreneurship that are common between each success story (we can take grit, dedication, value skews, leadership, process, risk, business partners/investors, etc) - and pair that with specific entrepreneur stories outlining various examples of how all these come about. Potentially even successes AND failures. Maybe dead ends that went nowhere.

@MJ DeMarco any further thoughts on the subject?

So each story represents a variety of strategies? Kinda like TGRRE , but with actual stories?
 
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NeoDialectic

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So each story represents a variety of strategies? Kinda like TGRRE , but with actual stories?
Yea. Kind of thinking about it, seems similar to how Robert Green wrote his 48 laws of power book. I loved that format and I've never seen a business focused book like that. So each chapter is a principle, then an example of entrepreneur and his story on how they exemplified that principle very well.
 

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