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

[Morethan1]

Great video MJ! Keep em coming

 

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[Brightchikezie]

Thanks so much mj demarco for changing my life and destiny with ur books and videos on YouTube .....
I'm a 20 years old boy from Nigeria and a student of mechanical engineering and currently learning motor mechanic all thanks to you for changing my mindset and its really affecting my everyday life positively but I promise u I will come over to America one day to see and thank you cause you are the father and chancellor I never had and I will be grateful cause I know that soon the world will hear about me cause I'm coming to the top.

 

[E01]

Very helpful thank you. My friend showed me how he makes enough money doing multiple food delivery apps he doesn't have to worry about the corporate income as much and can work towards freedom...the same day I watched this video. Although I might not qualify because I got a reckless driving charge for speeding in Virginia...my hope is restored to start small even just 50 to 100 dollars a day would be great. Definitely have been putting the horse before the cart or however that saying goes.

F*ck

Thank you

 

[RocketRose]

Great video. I agree about seeing opportunities as you assend the ladder. I have the skills but my lack of confidence was always a sticking point. I am now putting myself out there more and connecting with other writers and entrepreneurs.

I always kept connections with the college I did my Professional Masters in Education and was always happy to support open days for new students. I didn't realise at the time but it has directly led to me being offered a Research Supervisor role (I have a PhD from way back) and the great thing is that it is all online and really flexible. This gives me a few bob to keep me going and isn't labour intensive. I still have plenty of time for homeschool and keep knocking away (with serious intention) at my entrepreneurial pursuits an hour or two before the kiddies get up each morning.

 

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[MJ DeMarco]

Something odd is going on...

If you watched the video, I announced some info on my new book complete with an advance list for more information.

But in the last hour, these email registrations have jumped up to nearly 1 per minute. I checked the analytics and saw nothing unusual ... no jump in views, no virality, nothing to attribute to the sudden spike.

An interesting mystery!

 

[sparechange]

Looking forward to the new book! Hopefully available in Canada?

 

[Harsha Vardhan]

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!

Will be waiting for the Audible version of the book Mj
And your books are Fantastic

 

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[Thiago Machado]

This new book sounds fantastic!

I’d love to see anything in regards to “energy and motivation” once you hit the specialized skills stage and transitioning to a business.

I started out in web design but transitioned into PPC. I'm looking to combine those skills in the near future to start my own thing.

A common problem is that at the end of the day I’m so tired. It’s easy to slack sometimes. Even with a good diet, sleep, etc we still have our “off days”

Would love to learn how you kept that work consistency during the transition of employee to business owner @MJ DeMarco

 

[Ninjafaceplant]

Very helpful thank you. My friend showed me how he makes enough money doing multiple food delivery apps he doesn't have to worry about the corporate income as much and can work towards freedom...the same day I watched this video. Although I might not qualify because I got a reckless driving charge for speeding in Virginia...my hope is restored to start small even just 50 to 100 dollars a day would be great. Definitely have been putting the horse before the cart or however that saying goes.

f*ck

Thank you

Why not start selling your food delivery services to people in the area outside of the apps?
There must be enough people who either don't know how to use the apps, or don't want to and want a more personal touch.

A friend of mine did this initially for Mac Donald's deliveries, and later higher end restaurants not on the apps, he only works for a few hours in the evenings, he now has about 10 people with their own branded, hot/cold, mini delivery vans working for him.

 

[steelandchrome]

Excited to support the next book! I need to get moving on my steps, I took the hallway to the side of them and have been going sideways for a year and need to get going back up...

 

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[PizzaOnTheRoof]

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.

I think I'm the same way. I'm just so undisciplined and not passionate enough to fully commit to any of my ideas. I always end up quitting before I even start.

Since COVID, I've been learning web development to get a decent paying job so I can breathe a little, then work on my idea on the side.

Unfortunately I'm having trouble finding a job but still holding out hope!

 

[Deleted78083]

Hey,
I have always been really scarred to get a job, but you're right in the video, a business can't get started if one doesn't even have resources for food and shelter. So after turning down an opportunity, I thought about what you said in the vid and sent back an email to say I had changed my mind and was interested in the job eventually, and I got it. The job is in Poland, so it pays very little, but it enables me to survive and motivates me to start developing a specialized skill if I hope to make more money. I guess it's a start. It's really scary, and really uncomfortable, and you know what? It feels good.

Thx MJ,

M.

 

[fastlaner_1992]

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 taking a Myers Briggs personality test.

I have found with all the personality tests is that they aren't dynamic enough.

What I mean is that if you've been in a particular emotion for an extended amount of time you naturally answer the test differently and subsequently get different results.

Test it for yourself. Note though It will be difficult to do organically so be mindful of your polarized emotions. You want to do a test when you are at your happiest over the course of a few days to weeks and then do one when you are at your worst over the course of a few days to weeks.

You'll find different results.

And it makes sense that your personality is malleable. Just like your taste can change so does your personality.

 

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[door123]

My favorite video of all time from MJ! I Love how clear & realistic it is. Very few of us can jump from foundational job to specialized unit.

Im currently at the specialized labor step, I earn $100 + per hour as a handyman (Installing dog doors, Tv mounts & other crap). Its fun but can be annoying as I almost have to know how to do everything.

Im debating wether I should move up to specialized skill (I have good paid search skills) or specialized unit ( e-commerce store, importing improved products from China.

 

[Xav243]

I watched the video and it got me very confused....
In Unscripted it is all about giving, listening to people's pain points and trying our best to solve them, show love etc
Approach that I like and I am starting indeed to perceive opportunities almost everywhere, it is shocking.

But this video seems saying we should in order to be a succesful entrepreneur, focus on ourselves, develop our hourly pay rate up to specialized unit and boom we hit the goal. Where has gone the love, the listening to the market?
I mean getting yourself a specialized skill is super but you are putting your skill and hope that there will be enough demand for it, which for me is the opposite of listening to market and act accordingly.

Also, why do we have in step 2 or 3 to go out and clean some cars etc on top of our job. For example I consider myself having quite a specialized skill (work as a senior analyst in finance, hourly rate much more above the $50 shown in the video). Why would I have on top of that to go out and clean some cars for example? Why can't I now have an idea, contact different manufacturers to help me conceiving the idea etc?

Or is the message "to build a succesful company (as long as you respect the CENTS framework) go learn some highly valued skills like copywriting, web etc?

Sorry, MJ's message might be very clear, but I am really confused....

 

[dennisgerik]

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

MJ, did you write this for me...

In all seriousness, this video that kicked me in the a$$ today. I am turning off all other sites, and going all in with you and TFLF crew.

 

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[MJ DeMarco]

Also, why do we have in step 2 or 3 to go out and clean some cars etc on top of our job. For example I consider myself having quite a specialized skill (work as a senior analyst in finance, hourly rate much more above the $50 shown in the video). Why would I have on top of that to go out and clean some cars for example? Why can't I now have an idea, contact different manufacturers to help me conceiving the idea etc?

The video isn't for you -- its for people that have NO MONEY and NO SKILLS. Wasn't this clear in both the video title, and the video itself?

 

[Xav243]

The video isn't for you -- its for people that have NO MONEY and NO SKILLS. Wasn't this clear in both the video title, and the video itself?

No, title and video were clear but somehow I thought it was just applying to step 1. Had the impression that once foundational job is checked, you go along with others climbing the stairs step 2, 3 & 4.
But now it is very clear.
I guess I am too tired, close to midnight where I am. Thanks for the clarification MJ

 

[Determined2012]

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.

I just hope my copy is signed! Can't wait!!!!

 

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[argelast]

Compromise and dedication.
Which means forget about the security of a job and begin your own path.
Nicely explained, Thank you very much for keeping the focus for all of us !

 

[Wisith]

Great video, MJ. Like before, I'll buy the hard copy ASAP and give that to a friend and buy a digital copy once available.

I assume that whatever you plan to do for your specialized unit will have to pass the CENTS test?

I work with a lot of trades and this question always haunts the back of my mind. Most of them, while still very profitable, do the same things with no differentiation. This is also more difficult on projects with many players (subcontractors) since the general contractor has a cap on the bid, and often times it becomes a bid to the bottom. IE: what HVAC company can work on this track-home project for the least?

I asked one owner why he doesn't try to set themselves apart. He said the field is so competitive that if he raises his prices (to offset higher quality work), he won't win the bids anymore even though he has trust with the general contractors he works with for decades.

 

[Pat D. Rick]

I watched the video right when it was published, love it!

Right now I'm on the specialized skill level selling SEO and Copywriting services to various companies.

So far I'm not entirely sure what kind of specialized unit would be the best fit for me, but before I take this step I'd much rather stay on my current level a little longer to sharpen my skills.

 

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[MJ DeMarco]

I assume that whatever you plan to do for your specialized unit will have to pass the CENTS test?

Not necessarily, but ultimately, that should be the goal. Most important would be NEED and SCALE.

 

[MJ DeMarco]

Interesting article which Cuban basically, in so many words, reflects on his walk up the stairs as reflected in the posted video. ... it all started with a specialized skill, an investment into one's self.

https://www.cnbc.com/2020/10/05/mark-cuban-this-is-the-best-investment-i-ever-made.html

 

[jujumac]

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!!

 

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[Deleted68316]

Wow. Really like the idea in the new book.

I would feel inside the story. Parallel to the story.

 

[BritanniMiche']

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 video! I can’t wait for the book!!!!

 

[BlindSide]

Hey @MJ DeMarco , was just watching this video again. I was curious if sales is a "specialized skill" in your mind? I know the obvious answer is yes, but I've now been working on it for a few years to now obtain a high paying job. However, I haven't really seen how you do this yourself though, since your tied of course to your employer. I'm hoping this makes sense, I know @Scot made a post about this actually being a need before.

Would love to hear others input.

 

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[P789]

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!

I have a serious question sir. Is it the same content as this video below?

View: https://youtu.be/u6LvZz6lBQ8

 

[MJ DeMarco]

I have a serious question sir. Is it the same content as this video below?

You mean this guy?

Entrepreneur sued for alleged failure to pay rent on West Vancouver home

Dan Lok, a wealthy entrepreneur and financial guru, is being sued for allegedly failing to pay rent on a home in West Vancouver.

vancouversun.com

I have no clue, I don't watch guru videos nor do I plan to start.

That said, Mr. Lok has stolen shit straight out of my book (a book I wrote more than ten years ago) without of course, giving any credit for it. How do I know? Multiple reader emails. Of course, that doesn't surprise me...

Incidentally the "execution multiplier" that Mr. Lok generously borrowed from me was straight from Derek Sivers, who I did in fact, properly credit in the book The Millionaire Fastlane .

The guru cult industry is filled with schemers and ethically bankrupt assholes.

I was curious if sales is a "specialized skill" in your mind?

Sure, but you can only take that still to sell your own specialized unit.