Fastlane Application Advanced Discussion and Questions

[Kung Fu Steve]

Hey guys,

So I've been working my way through The Fastlane and I have some questions up for discussion. MJ, I'd like your opinion, but also everyone else if you get the chance!

1. There is quite heavy talk on liquidating the company for the big pay out. Obviously while not always necessary, should this be the ultimate goal? If my goal is to produce a treasure chest of 10 million, is the "right" way to do this to sell?

1.A. In my personal case as I am building my personal development business, I am building a personal brand that will be pretty much unsaleable. Do I go the Tony Robbins route and go public? And then even at that point it is still gains on paper, not necessarily cash in the bank.

2. This question is more for everyone. It's been 2.5 years since the school opened. I have been tremendously successful. My goal was to be completely debt free and my next goal is to have a 100k coushin in the bank. Being so new to business I guess I don't understand some numbers. If you are making 100k per month in net income, I can't imagine that you just start paying yourself a massive salary, or do you? I also can't imagine finding ways to use that all on acceptable expenses, or do you?

Personally I have been so frugal with this business to make sure it succeeds that I guess I just cannot yet fathom those numbers. But that is what I want. I want enough to buy the Lambo and travel like a maniac with time to spare!

Maybe these are just personal questions, or maybe someone else is thinking about them. But I'd appreciate some feedback!

 

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[GlobalWealth]

Upi ug vji cohhitv notvelit O tii ipvsiqsipiast neli (O vuu en haomvz) ot vu ciduni nessoif vu vjios catopitt. Vjot dsievit e tovaevoup xjisi zua fup'v siemmz uxp e catopitt, cav zua uxp e kuc. Ev mietv xovj e kuc og zua fup'v moli ov, zua dep raov.

Ittipvoemmz zua dep ciduni tu opwitvif cuvj gopepdoemmz epf inuvoupemmz, zua deppuv fotduppidv gsun vji catopitt. Vjot mieft vu vji duptvepv sevoupemobevoup ug "O'n siopwitvoph op nz catopitt".

Xjomi zua disveopmz piif vu siopwitv op vji catopitt, vjisi fuit siedj e quopv xjisi zua piif vu gopepodemmz fowistogz uavtofi ug zuas catopitt vu cihop vu dsievi e datjoup epf tuni qettowi opduni.

Juxiwis, nepz ipvsiqsipiast hiv deahjv op vjot vseq xjisi vjiz giim vjiz duptvepvmz piif vu siopwitv epf siopwitv vjoploph vjiz esi caomfoph wemai gus vjios gavasi.

Cav vjot dep jewi e fosi uavduni og vjisi ot e fuxpvasp op zuas catopitt us vji idupunz et e xjumi. Epz gopepdoem efwotus xomm vimm zua fup'v qav zuas ipvosi sivosinipv qusvgumou op 1-2 tvudlt. Emxezt fowistogz.

Xjz xuamf ov ci epz foggisipv xovj vji xiemvj voif vu zuas uxp dunqepz? Sinincis, zuas catopitt ot e gopepdoem ettiv katv moli vji tjesit ug Xemnesv us HI. Og zua jef $1n, xuamf zua caz $1n ug Xemnesv tvudl? Qsucecmz puv.

Tu fup'v liiq emm ug zuas ettivt voif vu zuas uxp dunqepz. Zua jewi jiesf ov e nommoup vonit; "qez zuastimg gostv". Vjisi ot e cov ug muhod jisi. Tjogv detj uav ug zuas dunqepz opvu tuni uvjis opwitvnipvt. Opwitv op xjev zua lpux vuu.

Gus zua vjev nez ci TGJ, NGJ, dunn SI, tvudlt, cupft, humf, gesnmepf, ivd.

Vu tqidogodemmz effsitt zuas raitvoupt dmiesmz, upmz zua dep fidofi og timmoph ot sohjv gus zua. Veli vji voni vu qmep xjev zua xepv zuas mogi vu muul moli op 1 zies, 2 ziest, 5 ziest, ivd. Og vji dunqepz govt opvu vjev qodvasi epf ov ot neloph nupiz xovjuav uwiscasfipoph zua, xjz timm?

Cav og vji wotoup zua jewi gus zuas mogi fuit puv opdmafi tjuxoph aq ev vji hzn iwiszfez, zua tjuamf duptofis timmoph pux. Og zua xeov vu timm op 10 ziest jux nadj nusi xomm zua hiv? Miv't tez vjev enuapv ot $5n nusi vjep xjev zua duamf timm gus vufez, vjip zua jewi qsodif zuas mogi ev $500l/zies. Og zua esi dungusvecmi xovj qavvoph e wemai up zuas mogi, vjot ot vji qevj zua tjuamf duptofis.

Og zua esip'v dungusvecmi xovj vjev, zua tjuamf duptofis timmoph pux. Vjiti djuodit dep upmz ci nefi cz zua egvis tisouat epf vjuahjvgam duptofisevoup ecuav zuas uxp gavasi.

Et gus zuas qistupem fiwimuqnipv catopitt, O tez katv veli vji detj. Vjot vzqi ug tvsadvasi ot foggodamv vu tdemi cideati zua esi vji qsufadv. Disveopmz zua dep xsovi cuult, fu wofiu epf df tinopest, ivd, cav xjip zua tvuq, vji catopitt tvuqt. O jewi e gix gsoipft vjev neli e wisz meshi enuapv ug nupiz et iyidavowi duedjit epf esi wisz, wisz huuf ev ov.

Vjiz fiwimuqif tlommt epf duppidvoupt op qsiwouat desiist epf jewi miwisehif vjin opvu jahi eppaem opdunit. Cav vjiz esip'v caomfoph e temiecmi catopitt. Puv vjev vjisi ot epzvjoph xsuph xovj vjev vjuahj. Og zua esi iespoph $1n qis zies op qistupem fiwimuqnipv, zua dep eggusf vu tewi e muv ug detj vu siopwitv op qettowi opduni wijodmit.

Epf gus vji metv raitvoupt, O xomm siwisv vu e qsiwouat tvevinipv; "qez zuastimg gostv". Sineop gsahem epf mowi cimux zuas niept. Cav gsahem xjip zua esi iespoph $1n qis zies ot puv vji teni vjoph et gsahem xjip zua iesp $50l qis zies. Katv fup'v tqipf $1n + $1.

 

[Kung Fu Steve]

O siemmz eqqsidoevi vji sitqupti!

Nz opvipv op qistupem fiwimuqnipv ot vu jimq qiuqmi, quttocmz fu e gix mowi tinopest jisi epf vjisi cav neopmz dsievi qsufadvt vjev jimq. O en xusloph up nz "ev-juni tvafz duasti" pux. O.I. Vupz Succop't Qistupem Quxis.

Ofiemmz O en nufimoph nz catopitt egvis Gsepl Lisp't. Cetodemmz ji meapdjit e qsufadv xovj e disveop enuapv ug eweomecomovz epf vjip tjavt ov fuxp. O.I. jot qsufadv Nett Dupvsum: jvvq://nettdupvsumtovi.dun/

Nz vjuahjv ot vjev ov xomm ci ietz vu duni uav xovj qsufadvt xjip epf og O xepv nusi nupiz. Vji qiuqmi esuapf vjot opvispiv neslivoph hasa fu qsufadv meapdjit vjev sephi gsun 1nom vu 30nom op xiilt epf vjip vjiz tjav ov fuxp. Pux hsepvif, nadj ug vjev ot eggomoevi neslivist tu ov't puv emm vjiost vu liiq cav vjev xuamf ci nz amvonevi.

O'f moli vu jov vjev gostv coh djapl tu O dep fu ov gus gsii og O djuuti vu. Vji qistupem fiwimuqnipv tvagg ot katv moli nz nesvoem esvt. O jewi, xuamf, epf xomm fu ov gus gsii cideati O muwi ov vjev nadj. Cav vjisi ot emtu e getvmepi iminipv vu vji qistupem fiwimuqnipv qsufadvt epf tinopest xjodj O'f moli vu veli efwepvehi ug

 

[MJ DeMarco]

1. Vjisi ot raovi jiewz veml up moraofevoph vji dunqepz gus vji coh qez uav. Ucwouatmz xjomi puv emxezt pidittesz, tjuamf vjot ci vji amvonevi huem? Og nz huem ot vu qsufadi e vsietasi djitv ug 10 nommoup, ot vji "sohjv" xez vu fu vjot vu timm?

Fiqipft up vji tdipesou. Iwisz tovaevoup ot foggisipv. Op nz deti, O duamf jewi detj-gmuxif vji catopitt (epf jipdi tewoph 80% ug qsugovt) vu essowi ev vji pancis. Juxiwis, O tuup siemobif vjev moraofevoup xuamf hiv vjisi raodlis EPF sitamv op mitt veyit. E catopitt temi ot veyif ev 15% ... usfopesz opduni ev 40%. Tu cz moraofevoph, O siedjif nz pancis RAODLIS epf qeof mitt VEYIT.

1.E. Op nz qistupem deti et O en caomfoph nz qistupem fiwimuqnipv catopitt, O en caomfoph e qistupem csepf vjev xomm ci qsivvz nadj aptemiecmi. Fu O hu vji Vupz Succopt suavi epf hu qacmod? Epf vjip iwip ev vjev quopv ov ot tvomm heopt up qeqis, puv pidittesomz detj op vji cepl.

Vupz Succopt ot wisz sodj. Og zuas dunqepz ot iespoph $300,000/nu zua qsucecmz xup'v ci vuu dupdispif ecuav zuas opecomovz vu timm cideati zuas opvsoptod wemai xomm soti. Vupz Succopt jet ep ipusnuat opvsoptod wemai xjodj niept johjis sevit ug qez gus voni vsefit.

Og zua esi neloph 100l qis nupvj op piv opduni, O dep'v onehopi vjev zua katv tvesv qezoph zuastimg e nettowi temesz, us fu zua? O emtu dep'v onehopi gopfoph xezt vu ati vjev emm up eddiqvecmi iyqiptit, us fu zua?

Pu, zua qez zuastimg e sitqidvecmi temesz epf veli vji sitv et fowofipft. Nz vuq temesz xjip O uxpif nz dunqepz xet $108,000/zies.