Hello MJ,
I've been reading over your materials (great by the way) and had a question. QUESTIONS: You mention that we need to own and control which is kind of where I'm a little held up
One of the famous sayings I've always went by was to "Own nothing, control everything" I'm also a fan of the saying "Id rather have 1% of 100 mens efforts than 100% of my own" and a famous dealmaker said to spend "No money, No Risk, Little time" in business deals. If we OWN whats being sold, there is a lot of liability on our heads, especially in the current economy where everyone is starting to get sue happy for ridiculous reasons.
Plus if your focusing on that one thing that you own, aren't you putting all your eggs in one basket? If that income dries up, your done and the chances of someone coming along and buying your business for millions is very rare which would be my only valid reason for building one business with full ownership and control?
Therefore isn't one better off to obtain control of other companies access, assets, opportunities, etc (buyers, inactive buyers, distribution channels, etc) and then monetize them via others selling it - leverage? To have multiple deals going instead of one company their running? Then one wouldn't have the liabilities of being the owner of that product/service but they'd still have control plus they'd be in numerous businesses without liability. You mentioned inventing, but even with inventing, the company that licenses it from the inventor takes on all liability when promoting and selling it while the inventor sits back and collects the royalties without running a business and can sleep at night. Interested in hearing your advice on this. PS: Most of my thinking comes from the well known dealmaker/author Jay Abraham, I've read mostly his stuff over the years.
I've been reading over your materials (great by the way) and had a question. QUESTIONS: You mention that we need to own and control which is kind of where I'm a little held up
One of the famous sayings I've always went by was to "Own nothing, control everything" I'm also a fan of the saying "Id rather have 1% of 100 mens efforts than 100% of my own" and a famous dealmaker said to spend "No money, No Risk, Little time" in business deals. If we OWN whats being sold, there is a lot of liability on our heads, especially in the current economy where everyone is starting to get sue happy for ridiculous reasons. Plus if your focusing on that one thing that you own, aren't you putting all your eggs in one basket? If that income dries up, your done and the chances of someone coming along and buying your business for millions is very rare which would be my only valid reason for building one business with full ownership and control?
Therefore isn't one better off to obtain control of other companies access, assets, opportunities, etc (buyers, inactive buyers, distribution channels, etc) and then monetize them via others selling it - leverage? To have multiple deals going instead of one company their running? Then one wouldn't have the liabilities of being the owner of that product/service but they'd still have control plus they'd be in numerous businesses without liability. You mentioned inventing, but even with inventing, the company that licenses it from the inventor takes on all liability when promoting and selling it while the inventor sits back and collects the royalties without running a business and can sleep at night. Interested in hearing your advice on this.
PS: Most of my thinking comes from the well known dealmaker/author Jay Abraham, I've read mostly his stuff over the years.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
