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GOLD! From Flat-Broke to Financial Freedom: How to Get Started When You Have No Money

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MJ DeMarco

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
 

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MTEE1985

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
Great freaking video MJ. Regarding the book will we be able to pre-order though Viperion?
 
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MJ DeMarco

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Great freaking video MJ. Regarding the book will we be able to pre-order though Viperion?
Not sure entirely yet how I'm going to reward the early adopters, but if you're on the list, you will be first to know.
 

Beebop27

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
Awesome...
 

Ravens_Shadow

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Pretty much followed these steps to a T over the past 8 years and can confirm that this is how it goes. Great video and reminder!
 

RoadTrip

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Excellent video for starting AND succeeding entrepreneurs.

I have been on this forum for a long time and have had my ups and downs and multiple failed business in those years.

My current (country specific Amazon) marketplace business is generating a good cash flow and growing steadily but it's just that: a marketplace. No Entry or Control whatsoever.

So I have been on some soul searching the past few weeks. Specifically looking at what kind of person I am (Myers Briggs test), what I enjoy doing and what comes easy/natural to me. Instead of looking at types of businesses which come naturally to other persons, I am now only looking at what I could do well. And what I enjoy doing.

I think self exploration would really supplement your video on how to start from zero. One shouldn't look at other people but instead turn inside and look at what one does best. And move up that ladder always having that end goal in mind.

Of course, some people have no idea what they like most so they should just start with anything. In that case I would at least suggest to take a Myers Briggs personality test.
 

Strm

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Great video as always, @MJ DeMarco ! I wish you'd do them more often! :D

I skipped steps 2 and 3. I saved some money from my job as a carpenter/builder enough to start slowly with step 4. But then again, as I've been doing it for almost 6 months now, I have more knowledge on product sourcing, marketing, e-commerce as a whole etc. Which can be used for the middle steps if I choose to.
 

Andy Black

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Great video MJ. I’ve shared it a bunch already.

I like how it starts with doing whatever it takes to pay the bills, then slowly increasing effective hourly rates till we divorce our earnings from our time altogether.
 

Mainstream7

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I registered on the FLF in 2015. In the past 5 years I kept trying to build a business without foundational income(lets say...denying a well-paying job, solo developing apps, games, writing a book, importing cheap products from china, passion projects etc. etc....you got me there MJ )
A lot of miserable days of fear, pain, doubt, euphoria and terror again.
Back then it was the right thing to do, for me at least.

It required a moment of being driven into a corner to realize that a spezialized job is the right next step. There is no other way.

I believe this will make absolutely everything easier, opening opportunities never there before.

I just recently started working on my skills again to get a well-paying job.
Then making more income by freelancing and having the OPTION(not the necessity) to execute all those awesome ideas for a fastlane business.

The next 5 years will be even more incredible. I´m hungry and the nitro boost is activated.
 

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MJ DeMarco

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A pattern I find is that as you ascend the stairs, you start seeing opportunities in whatever process you engage in. So not only is it about skill acquisition and elevating rate of pay but engagement in the market so you can see where potential "specialized unit" opportunities might lie.

I wish you'd do them more often!
I'd like to!
 

Andy Black

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Below is a great podcast I’ve linked to over the years. I believe it’s relevant.

Basically:
  • Learn a skill.
  • Sell the skill.
  • Scale the skill
These are like MJ's steps 2-4.

I’ve always said I’d flip burgers if I had to (except flipping burgers wouldn't pay enough to cover the bills anyway). That’s step 1. You’ve got to stay in it long enough to win it. Nothing wrong with working a job while you build up to the next step.

The podcast:
 

timmy

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
Need this for my 18 yr. old. Put me on the pre. order list too. She might listen to you
 

sonny_1080

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
Thank you MJ that was a great video.

For anyone who is broke with no money and no skills, I highly suggest this thread as well:


Here's a quick rundown of my experience as it relates to this video. Hope it helps somebody:

I had a job before COVID hit and when everything shut down I thought it'd be a great time to learn a "fastlane" skill.

I remembered when I started a garage cleaning company (specialized labor) at 18 years old. It was as simple as throwing what I needed in a truck and knocking on doors. Made $500 in about 8 hours.

Since then, I tried a few other ideas that I had over-complicated. It came down to helping people (shoutout to Andy Black). So fast-forward to this quarantine. I decided to learn digital marketing (specialized skill). Since Andy put up so much free content on the forum I thought it'd be stupid not to soak it all up.

Took me about a month to get confident enough to join a business networking group. It's been about 4 months and I've basically replaced my income from my job. More importantly, my time has freed up because I work about 60% less and I don't have a 2 hour commute there and back. Not to mention all the other benefits of doing my own thing.

I have a tendency to look too far ahead and make unsustainable changes. MJ, thank you for the reminder to make sure I have my foundation squared away before I move forward.

Currently, I'm trying to think about how I can transition into the specialized unit step.

One step at a time!
 
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MJ DeMarco

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People who need this advice the most, will not like it the most.
But I want to launch the next Facebook! Will you do the code while I sit back and play World of Warcraft? ;)
 

ACR

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Wow what a fantastic video, so well made and clearly explained. After reading your previous books it was also great to actually hear your voice. Thank you sooooooooo much MJ for all you are doing. You will never know just how much you have helped me and thousands of others too. Thank you!
 

absybad

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
omfg new book im so excited.
 

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Sharona87

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I see this question a lot here, and posted in a lot of introductions.

How do I get started when I have no money and no skills?

I made a video to answer...


Also there's an update on my next book near the end of the vid!

Enjoy, and if you're broke with no skills, I hope it helps you!
Thanks for this! Based on this explanation, turns out I could easily climb up to the specialised skill step, but I'm so distracted by achieving the specialised unit step... Food for thought about where my specialised skill might sit. I think I might be inadvertently working on it already!

My spirits are lifted, I'm not as lost as I thought! :)
 

Bruno Calisso

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I was going to skip the video and I am very glad I didn't, it is a brilliant and fresh summary of the path to the Fastlane, I will keep the video in my favorite files as a reminder of the steps I have to follow to achieve my dreams.

Thank you MJ. :praise:
 

redshift

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Can't wait for the book! :) I thought you had mentioned in the insiders call that it wouldn't be part of the unscripted series (title wise) ?
 
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MJ DeMarco

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I thought you had mentioned in the insiders call that it wouldn't be part of the unscripted series (title wise) ?
I reevaluated and figured that I should stick with my original intent.
 
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MJ DeMarco

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Wow! Very true. Excellent explanation of the steps to climb. I know people who are frustrated and are struggling a lot because they've started at the top of the stairs.
The unadvertised benefit as well is this ... exposing opportunities for "specialized units", the top step, is uncovered as you climb the bottom steps.

People who say, "I have no ideas!" is because they haven't taken the bottom steps and are looking only at the top one.
 

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