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Defining "Business System" and "Money System"

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Zakary Frank

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I absolutely loved listening to the audio for the Millionaire FASTLANE book and am now revisiting its principles.

Now I am looking for a clear definition of the terms "Business Systems" and "Money Systems" as used in DeMarco's book.

Do you have a definition that helps you think about these concepts?
 

Andy Black

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I absolutely loved listening to the audio for the Millionaire FASTLANE book and am now revisiting its principles.

Now I am looking for a clear definition of the terms "Business Systems" and "Money Systems" as used in DeMarco's book.

Do you have a definition that helps you think about these concepts?
It's great that you've read the book.

Why worry about definitions of concepts though?

Would it be better to focus on making another sale or getting another customer this week?

I ask this because it sounds like you're treating this is a theoretical exercise, when I'm sure MJ would be delighted if you read the book, found a need, added value, and reported back that you'd made a sale or more sales.
 

MJ DeMarco

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A business system is an entity that provides value while being partially disconnected from your time.

A money system is a capital rental system -- instead of having a business of products or services, you have a business of renting money.
 

Chimp

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you have a business of renting money.

The way you word this confuses me. Isn't this where you have let's say $100,000,000 after selling your business and live off the interest?
 

Zakary Frank

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It's great that you've read the book.

Why worry about definitions of concepts though?

Would it be better to focus on making another sale or getting another customer this week?

I ask this because it sounds like you're treating this is a theoretical exercise, when I'm sure MJ would be delighted if you read the book, found a need, added value, and reported back that you'd made a sale or more sales.

Believe me. I am not worried about the definition of concepts. Simply rereading the section where MJ discusses implementing your business system to include a split of 40% taxes/40% money system/20% lifestyle.

I was getting confused and was simply asking for some clarification.
 

The Abundant Man

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A business system is an entity that provides value while being partially disconnected from your time.

A money system is a capital rental system -- instead of having a business of products or services, you have a business of renting money.
So a business system would be something like a blog or some sort of company where I put in little work. While a money system would be like stock, bonds or real estate
 

ecom andy

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Apr 16, 2021
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It's great that you've read the book.

Why worry about definitions of concepts though?

Would it be better to focus on making another sale or getting another customer this week?

I ask this because it sounds like you're treating this is a theoretical exercise, when I'm sure MJ would be delighted if you read the book, found a need, added value, and reported back that you'd made a sale or more sales.
You really have to understand the concepts in order to remember it better! If you don't understand the definition of the concepts, it's just words on a paper!
 

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