• 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!

Earning $11,000 vs. $60 in a Day (A tale of Fastlane/Slowlane)

Discussion in 'The Unscripted Entrepreneurial Mind' started by El Príncipe, Jul 3, 2018.

  1. El Príncipe
    Online

    El Príncipe Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    47
    Likes Received:
    103
    Joined:
    Jun 1, 2018
    Gender:
    Male
    Location:
    Amsterdam, The Netherlands
    Rep Bank:
    $547
    So I just came across this Youtube video and I had to share it with the people here. It's so insightful and so exemplary of so many different things that are part of the transformation we're all trying to make here.



    Bottom Line - S1E1

    Very interesting to see the contrasts. What stood out most to me personally is how neither one of these guys seems notably more intelligent or talented and they both talk about how money was a issue when they were growing up. The only difference is in what they chose to do with their skills and time.

    Another thing that stood out to me and that confirms a common theme I've noticed is how it all started small; The 11k guy talking about how he started flipping snicker bars as a kid.

    Feel free to share your own insights from this video guys.
     
  2. Fox
    Online

    Fox Moderator Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    11,135
    Joined:
    Aug 19, 2015
    Gender:
    Male
    Location:
    Mexico
    Rep Bank:
    $67,302
    Great video - been seeing this on my suggested feed and only checked it out now.

    Really shows the compound effect in action.

    One guy - working uber eats, no systems in place, good attitude but no leverage, scale, or impact...

    Second guy - multiple automated and highly scalable businesses, owns his own business ecosystem, trading with large enough numbers...

    Damn this really got to me. Shows how important the right principles underlining your business are and how subtle differences in this can really snowball hard over time.

    Would love to see @MJ DeMarco thoughts on this one.
     
  3. Fox
    Online

    Fox Moderator Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    11,135
    Joined:
    Aug 19, 2015
    Gender:
    Male
    Location:
    Mexico
    Rep Bank:
    $67,302
  4. TheOrchestrator
    Offline

    TheOrchestrator Freedom Fighter Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    56
    Likes Received:
    189
    Joined:
    Feb 8, 2018
    Gender:
    Male
    Location:
    Houston, TX
    Rep Bank:
    $1,734
    Yeah, I also saw this yesterday as well. Quite a stark contrast in their moment-by-moment experiences throughout the day. I couldn't help but feel really bad for the poor kid because he clearly has a very passive view about his life, as if there really isn't much he could have done, or can do, about his situation. He's just like "whatever, this is what it is....".

    Having said that, I can't deny that I'm a bit concerned about the rich kid as well. I mean, sure, he's got a much better head on when it comes to economics and how the world works, but was I the only one that kinda felt that he seemed a little "zombie-ish", and almost depressed? Yeah, sure the poor kid was clearly BS'ing a little about how happy he was (he clearly does wish things were better), but if I had to, just from this video, determine who's happier right now, I'd still have to give it to the poor kid.

    The rich kid is doing great, and it's awesome to hear what he's able to do for his family too. However, I'm wondering if the kid might need to slow it up a bit, because, I can't quite put my finger on it, but he might be on his way to burn-out. I could be wrong, and could be reading way too much into this really brief look into his life, but that's pretty much how I felt when I walked away. I mean, he wouldn't be the first hyper-productive money-making beast that's also hiding some serious psychological issues. Just my thoughts.
     
  5. AlessioLC
    Offline

    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    440
    Likes Received:
    369
    Joined:
    Jul 19, 2017
    Gender:
    Male
    Location:
    France
    Rep Bank:
    $1,891
    He indeed look a bit bored, but from what i've seen from his videos he is like this most of the time.

    But i would prefer to be the rich kid because as he said in his videos, he wanted money, he's able to support his family now and buy what he wants.
    Sometime you need to make sacrifice to make things happen (money) and then find happiness when the economic side is safe.

    In other words, if he's not happy (i won't lie he doesn't seems happy), with all this money saved and invested and the possible passive income he could make from it, he will be able to try things and find real happiness.

    Like MJ or many entrepreneurs says : "You must do what you don't love for a while in order to make what you love for the rest of your life." (something like that)
     
    NickB and TheCj like this.
  6. InspireHD
    Offline

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

    Messages:
    294
    Likes Received:
    672
    Joined:
    Dec 9, 2014
    Gender:
    Male
    Rep Bank:
    $3,124
    Ricky said on Monday or Tuesday that he reached out to the other guy and will be flying to California to get him set up in his course and mentor him through his program.
     
    Shinebabe and El Príncipe like this.
  7. 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:
    26,301
    Likes Received:
    80,159
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $335,475
    Admin Post
    Interesting contrast in how each guy is tied to mathematics and time. One guy isn't, the other is. And hence you get the wide variance in outcomes.

    I also don't understand the incongruity in owning $1M in cars but you live in a $300K tract house, especially if you allegedly earn $7M a year. Something smells off and I get a bro-marketing vibe. I don't doubt the guy's success, I doubt the totality of the numbers. As someone who is deep in the markets myself, $11K a day is not unusual, but neither is a negative -$11K.

    The $60/day guy also has a great attitude. Just a shame his net earnings is probably about $4/hour when account for time, gas, insurance, etc.

    Looks like one guy read my books, and the other guy NEEDS to. LOL.
     
  8. El Príncipe
    Online

    El Príncipe Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    47
    Likes Received:
    103
    Joined:
    Jun 1, 2018
    Gender:
    Male
    Location:
    Amsterdam, The Netherlands
    Rep Bank:
    $547
    This is awesome. Would love to see a follow up episode. A whole series even, tracking their progress.
     
    TheOrchestrator likes this.
  9. TheOrchestrator
    Offline

    TheOrchestrator Freedom Fighter Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    56
    Likes Received:
    189
    Joined:
    Feb 8, 2018
    Gender:
    Male
    Location:
    Houston, TX
    Rep Bank:
    $1,734
    Okay, I'm so glad that I wasn't the only person who thought the same thing. One thing I learned after allowing myself to get sidetracked by bro-marketers, is that they may be very successful, but they also do a great job at making themselves look a lot more successful than they really are. I couldn't help but wonder if any of those cars were actually rentals, which seems to be a major marketing method these days...
     
  10. ChrisR
    Offline

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

    Messages:
    146
    Likes Received:
    247
    Joined:
    Nov 11, 2017
    Gender:
    Male
    Location:
    Republic of Kekistan
    Rep Bank:
    $1,417
    Haha. I was thinking the same thing about the cars.
     
  11. Fox
    Online

    Fox Moderator Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    11,135
    Joined:
    Aug 19, 2015
    Gender:
    Male
    Location:
    Mexico
    Rep Bank:
    $67,302
    I think a lot of these Youtubers go really heavy on the cars first chance they get.

    They know that Ferraris, Lambos, Mclarens will get those big clicks so they buy them soon as they can.
     
  12. cwalto12
    Offline

    cwalto12 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

    Messages:
    42
    Likes Received:
    74
    Joined:
    Feb 21, 2018
    Gender:
    Male
    Location:
    Louisville
    Rep Bank:
    $362
    Saw this same video the other day and wondered what the board's thoughts were on it. I also looked into Ricky's background and his FB group makes it seem like it is a pretty good course. I also got the bro-marketing vibe from him at first, but his students seem pretty happy with the content and they say that his Insiders FB group is worth the price. Good thread.
     
  13. 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:
    26,301
    Likes Received:
    80,159
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $335,475
    Admin Post
    Ah yes, and then we can make it a business expense!

    I just hope he covers his a$$ if things go sideways, not just him, but for those who he advises ... I doubt this kid has ever traded in a recession, much less a crash. In a bull-market, everybody's an expert.
     
  14. TheCj
    Offline

    TheCj Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

    Messages:
    48
    Likes Received:
    74
    Joined:
    Jan 3, 2017
    Gender:
    Male
    Location:
    Ontario, Canada
    Rep Bank:
    $375
    Agree with a lot of the comments, One thing too note is that Ricky is a business guy that runs multiple businesses. So if you look at how he behaves as a business owner it makes sense. He is very aware of the image he is portraying on this video where as the other guy is just living moment to moment. I think this is why he may seem bored or not as happy. It's like watching a pro athlete doing an interview after a loss in a regular season game, just give the tough lose interview etc... but they aren't going to be glum when they go in there supercar drive home to there nice place and enjoy there great life after the game.

    It was interesting to see him switch on his enthusiasm for his video streams etc.. Then go about the mundane folding of shirts..

    From just briefly watching a couple of his other older video's he talks about selling car's online as one of his streams. Dance's around the dealer license part so not sure if he sells cars online for a dealer or has his own license, but seems like he has a relationship with someone with a dealer license so maybe he parks some cars at his own place.

    Also felt like the "guru" vibe showing that he lost money on his trading and has very little 30k i think of his money tied up into it, but this is what he uses to sell courses etc.. be nice to know how much his business of teaching people to trade made him that day compared to his own "trading"..

    Definitely nice to see the visual difference of different income equations!
     
    jick5555, JordanK, SMH and 1 other person like this.
  15. AlessioLC
    Offline

    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    440
    Likes Received:
    369
    Joined:
    Jul 19, 2017
    Gender:
    Male
    Location:
    France
    Rep Bank:
    $1,891
    Everyone of these Youtubers (Shopify / Amazon / Trading) with their 5/6 figures per months strategy or BS like this are Bro's Marketers and he is probably making the same amount / more from his course.
     
    ChrisR likes this.
  16. TheOrchestrator
    Offline

    TheOrchestrator Freedom Fighter Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    56
    Likes Received:
    189
    Joined:
    Feb 8, 2018
    Gender:
    Male
    Location:
    Houston, TX
    Rep Bank:
    $1,734
    Well that would be quite a business investment (one that the majority of these guys wouldn't be able to afford). Even Tai Lopez rents pretty much everything that's in his videos, from the vehicles, to the homes, to even the women lol. :rofl:
     
  17. CalebB556
    Offline

    CalebB556 Contributor

    Messages:
    15
    Likes Received:
    24
    Joined:
    May 25, 2018
    Gender:
    Male
    Location:
    Texas
    Rep Bank:
    $122
    SOOOO MUCH!

    A show that takes normal people and gives them a "Fastlane Makeover" and tracks their progress to success would instantly be a Top 3 for me.

    But not some pimp my ride kind of thing, more like a documentary.
     
  18. Logan Powell
    Offline

    Logan Powell New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    5
    Likes Received:
    8
    Joined:
    Apr 9, 2018
    Gender:
    Male
    Location:
    Banff, Alberta, Canada
    Rep Bank:
    $47
    I have always wondered, is giving financial advise through a youtube channel actually legal?

    I thought there was strict laws around this unless you had a CFA.
     
    MJ DeMarco likes this.
  19. AlessioLC
    Offline

    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    440
    Likes Received:
    369
    Joined:
    Jul 19, 2017
    Gender:
    Male
    Location:
    France
    Rep Bank:
    $1,891
    There's so much people doing this that i don't think anything could do anything.
    But hey, maybe you could build a new career by building a private company specialized in finding people on Youtube giving illegal financial / legal advices ! Lol
     
  20. ChrisV
    Online

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

    Messages:
    789
    Likes Received:
    1,167
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    New York
    Rep Bank:
    $7,340
    Yea but he doesnt rent his KNOWLEDGE
     
    jick5555 likes this.
  21. The Abundant Man
    Offline

    The Abundant Man Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    454
    Likes Received:
    454
    Joined:
    Jul 3, 2018
    Gender:
    Male
    Rep Bank:
    $2,203
    Why would it not be legal?
     
  22. Bryan James
    Offline

    Bryan James Contributor

    Messages:
    53
    Likes Received:
    48
    Joined:
    Jul 1, 2018
    Gender:
    Male
    Rep Bank:
    $242
    Very interesting video. Ricky the rich kid (Ricky Rich?) seems a little "emo" or lonely (maybe he's not though) to me. I can say with some confidence though that day trading is an extremely risky endeavor, especially over the long run. I haven't met a single trader in my life who has lasted over a decade successfully; many not even past 5 years. I dabbled in trading myself for about 2 years which was a disaster. Then again, maybe I went about it the wrong way. The $60/day guy seemed pretty positive although seeing him struggling to make money was a little sad. I liked the vid though! Very interesting dichotomy of money, lifestyle, and mindset.
     
    jick5555 likes this.
  23. ChrisV
    Online

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

    Messages:
    789
    Likes Received:
    1,167
    Joined:
    May 10, 2015
    Gender:
    Male
    Location:
    New York
    Rep Bank:
    $7,340
    Man, this video really hit home becasue the multimillionaire really isn’t that special, he just did it.
     
  24. The Abundant Man
    Offline

    The Abundant Man Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    454
    Likes Received:
    454
    Joined:
    Jul 3, 2018
    Gender:
    Male
    Rep Bank:
    $2,203
    I love the attitude of the $60 kid. He's out there doing work, hustling and grinding.
     
  25. MTEE1985
    Offline

    MTEE1985 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    233
    Likes Received:
    582
    Joined:
    Jun 12, 2018
    Gender:
    Male
    Rep Bank:
    $3,911
    There’s a line where you are ok, you can give overall market analysis, sectors etc without being registered. You can also give specific recommendations if you aren’t being paid a fee to do so.

    Where the regulatory body might come knocking, if they chose, was if people paid you a fee for a securities recommendation and you were not registered as an investment adviser or an agent of a broker dealer.
     
    Logan Powell likes this.

Share This Page