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GOLD! How to create monetary wealth in just 5 years. (Or less!)

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MJ DeMarco

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Asked on Quora which I answered...

https://www.quora.com/How-can-I-create-massive-monetary-success-in-five-years/answer/MJ-DeMarco-1

Create yourself a mathematical equation that scales, then work that equation to death while acting, assessing, and adjusting along the way.

Few people understand that all of our actions and career decisions implicitly tie us into an equation.

This equation can be relatively simple or extremely complex.

At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
  • Equations that scale make their owners rich.
  • Equations that do not, make their owners slaves to the system of “trading time for money.”
The beauty of this equation is that you can control its basic variable parameters. But most people DO NOT because most people don’t even know this equation exists!

If you decide to get a job at McDonalds and are paid $12/hour — congratulations, you just created yourself an equation to which you are now bound to:

Monetary Wealth = (rate of pay) x (hours worked)

If you work 30 hours, your equation is 12 X 30, which equals $360.

If you go to college and accumulate $140K in debt so you can have the privilege of earning $40K/year, congratulations, that’s your new equation.

Monetary Wealth = (hourly salary) X (years worked)

To complicate the mix, you are then suggested to save your money and give it to Wall Street.

There you get another equation:

Monetary Wealth = Market investments X annual ROI

This mainstream advice is the standard prescription for mediocrity.

And it’s clearly not a method to create monetary success in less than 10 years, much less 5.

As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable. You cannot work 3,000 hours at McDonalds in one week. You cannot force McDonalds to pay you $1,000 per hour. You cannot ask Wall Street to give you a 4000% return.

There are only so many hours in a day, and years in a life.

And herein lies the lie behind college: Young people are told to go to college so they can increase their PER HOUR rate from $12 to, say, $25 or $30. Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making $50/hour, they make $50,000/year.

The problem remains.

TIME CANNOT BE SCALED.

You cannot work 1000 hours in day.

You cannot live to be 500 years old.

You cannot ask Wall Street to give you a 4000% return in one year.

You cannot ask your employer to give you a raise from 50K/year, to $500K.

Your hands are tied because the equation you’ve given yourself SUCKS.

Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.

This means you become a creator of relative value.

Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
  • A) Your creation can eventually become separate from your time.
  • B) You can scale your creation to a level that can change your life.
The other metric is relative value.

Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.

Whatever you create, it must be relatively valuable in the global pool of options. This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.

Entrepreneurship is about improving, more so than inventing the next hot thing.

So let’s assume you invent a cool new widget that appeals to women who are mothers.

Your equation now becomes:

Wealth = Widget Profit X Widgets Sold.

This is where things change.

Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.

So if you sell 100,000 widgets at $5 profit each, you just earned $500,000.

If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling 4,000 units, you make $20K in week.

Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.

This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)

Of course I’m not suggesting this is easy.

The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.

Just to give you an example, how this works in real life, I’ve been “off the clock” for over 20 years. That means I earn money 24 hours a day, 7 days a week because my income and net worth is tied to UNITS, not HOURS or TIME. This is how can effectively call myself “semi-retired”.

I’m a best selling author [The Millionaire Fastlane] and [Unscripted] (published in over 15+ countries/languages) so part of my “equation” is how many books that sell worldwide.

And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. For instance, my second book Unscripted is a the #1 best-selling business book in South Korea (at least that’s why my publisher is telling me) but barely known in the states.

I also run a global community on entrepreneurship [The Fastlane Entrepreneur Forum] which operates 24 hours a day. A 24 hour operation means I earn 24 hours a day. I could go on and on with the other ventures but hopefully you get the point…

So are you ready?

Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.)

(bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …​

Most of those variables listed above I can CONTROL and SCALE.

1) Create relative value.

2) Recognize your equation.

3) Work the equation.

4) Act — Assess — Adjust

5) Repeat​

That my friend is how you create monetary wealth within 5 years.
 

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Paolo Rizzo

Bronze Contributor
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Sep 26, 2017
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Man...
This is such an incredible post.
It's crazy to think so many people in this world will never read it and never understand that they are stuck in the script, by the time most realize, it will be too late.
 

c4n

Full throttle
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Summit Attendee
Speedway Pass
May 30, 2017
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Thanks for a nice summary of your summit presentation :clap::
 

Ocelot

Contributor
Apr 13, 2018
14
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UK
That's a crazy amount of value for a Quora post.

Hopefully they are ready to actually let that advice filter in and start to provide the right mindset. Too many people bounce around from one scheme to another until they ultimately realise that this is only true way.

You've probably just saved them years.
 

Galaxy16

Bronze Contributor
Read Millionaire Fastlane
Feb 4, 2018
300
144
85
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Germany
Asked on Quora which I answered...

https://www.quora.com/How-can-I-create-massive-monetary-success-in-five-years/answer/MJ-DeMarco-1

Create yourself a mathematical equation that scales, then work that equation to death while acting, assessing, and adjusting along the way.

Few people understand that all of our actions and career decisions implicitly tie us into an equation.

This equation can be relatively simple or extremely complex.

At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
  • Equations that scale make their owners rich.
  • Equations that do not, make their owners slaves to the system of “trading time for money.”
The beauty of this equation is that you can control its basic variable parameters. But most people DO NOT because most people don’t even know this equation exists!

If you decide to get a job at McDonalds and are paid $12/hour — congratulations, you just created yourself an equation to which you are now bound to:

Monetary Wealth = (rate of pay) x (hours worked)

If you work 30 hours, your equation is 12 X 30, which equals $360.

If you go to college and accumulate $140K in debt so you can have the privilege of earning $40K/year, congratulations, that’s your new equation.

Monetary Wealth = (hourly salary) X (years worked)

To complicate the mix, you are then suggested to save your money and give it to Wall Street.

There you get another equation:

Monetary Wealth = Market investments X annual ROI

This mainstream advice is the standard prescription for mediocrity.

And it’s clearly not a method to create monetary success in less than 10 years, much less 5.

As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable. You cannot work 3,000 hours at McDonalds in one week. You cannot force McDonalds to pay you $1,000 per hour. You cannot ask Wall Street to give you a 4000% return.

There are only so many hours in a day, and years in a life.

And herein lies the lie behind college: Young people are told to go to college so they can increase their PER HOUR rate from $12 to, say, $25 or $30. Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making $50/hour, they make $50,000/year.

The problem remains.

TIME CANNOT BE SCALED.

You cannot work 1000 hours in day.

You cannot live to be 500 years old.

You cannot ask Wall Street to give you a 4000% return in one year.

You cannot ask your employer to give you a raise from 50K/year, to $500K.

Your hands are tied because the equation you’ve given yourself SUCKS.

Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.

This means you become a creator of relative value.

Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
  • A) Your creation can eventually become separate from your time.
  • B) You can scale your creation to a level that can change your life.
The other metric is relative value.

Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.

Whatever you create, it must be relatively valuable in the global pool of options. This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.

Entrepreneurship is about improving, more so than inventing the next hot thing.

So let’s assume you invent a cool new widget that appeals to women who are mothers.

Your equation now becomes:

Wealth = Widget Profit X Widgets Sold.

This is where things change.

Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.

So if you sell 100,000 widgets at $5 profit each, you just earned $500,000.

If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling 4,000 units, you make $20K in week.

Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.

This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)

Of course I’m not suggesting this is easy.

The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.

Just to give you an example, how this works in real life, I’ve been “off the clock” for over 20 years. That means I earn money 24 hours a day, 7 days a week because my income and net worth is tied to UNITS, not HOURS or TIME. This is how can effectively call myself “semi-retired”.

I’m a best selling author [The Millionaire Fastlane] and [Unscripted] (published in over 15+ countries/languages) so part of my “equation” is how many books that sell worldwide.

And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. For instance, my second book Unscripted is a the #1 best-selling business book in South Korea (at least that’s why my publisher is telling me) but barely known in the states.

I also run a global community on entrepreneurship [The Fastlane Entrepreneur Forum] which operates 24 hours a day. A 24 hour operation means I earn 24 hours a day. I could go on and on with the other ventures but hopefully you get the point…

So are you ready?

Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.)

(bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …​

Most of those variables listed above I can CONTROL and SCALE.

1) Create relative value.

2) Recognize your equation.

3) Work the equation.

4) Act — Assess — Adjust

5) Repeat​

That my friend is how you create monetary wealth within 5 years.
What is "bup"?
 
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  • #9

MJ DeMarco

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Smuggo

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I don't understand this equation. I mean the shortcuts. Could someone explain it for me please ?
 

MJ DeMarco

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ay47

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But I can't do any of that, I don't have ideas! /S
 

MJ DeMarco

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Here's a video I did that adds to this concept, somewhat reflects my topic at the Fastlane Summit.

 

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Fris

New Contributor
May 18, 2018
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Oh Great, This is such an excellent post, thanks for sharing it!, You can also view <link removed by mod> which would be useful for many who plan on starting business!.
 
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Envision

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Every person starting out or trying to figure things out, should print this out, it's literally the key. When you break everything down to the skeletal structure - that's it.

Now you have to plug in the pieces to the puzzle and figure out how to make it work

What products would fill X persons need?
How can you create X product?
How do you afford X product?
Where do you sell X product?
How do you market X product?
How do you scale X product?

The biggest mistake I see my peers do that prevent them from executing on this equation (early 20's) is they lock themselves into their job. They use their income from their 50k/yr jobs to get new cars, houses, pay their loans, and go downtown to the bars. They don't save, invest, or plan for the future. If you consciously allocate funds from your job to creating more income, whether thats investing it into real estate, starting a business, or investing in your skills you are leveraging that time you're forced to spend at your job due to your life circumstances to build your puzzle pieces out.

Been thinking about this a lot lately. Thanks for posting this MJ!
 

W0rkb3nch

New Contributor
I've Read UNSCRIPTED
Read Millionaire Fastlane
May 30, 2018
14
15
19
Asked on Quora which I answered...

https://www.quora.com/How-can-I-create-massive-monetary-success-in-five-years/answer/MJ-DeMarco-1

Create yourself a mathematical equation that scales, then work that equation to death while acting, assessing, and adjusting along the way.

Few people understand that all of our actions and career decisions implicitly tie us into an equation.

This equation can be relatively simple or extremely complex.

At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
  • Equations that scale make their owners rich.
  • Equations that do not, make their owners slaves to the system of “trading time for money.”
The beauty of this equation is that you can control its basic variable parameters. But most people DO NOT because most people don’t even know this equation exists!

If you decide to get a job at McDonalds and are paid $12/hour — congratulations, you just created yourself an equation to which you are now bound to:

Monetary Wealth = (rate of pay) x (hours worked)

If you work 30 hours, your equation is 12 X 30, which equals $360.

If you go to college and accumulate $140K in debt so you can have the privilege of earning $40K/year, congratulations, that’s your new equation.

Monetary Wealth = (hourly salary) X (years worked)

To complicate the mix, you are then suggested to save your money and give it to Wall Street.

There you get another equation:

Monetary Wealth = Market investments X annual ROI

This mainstream advice is the standard prescription for mediocrity.

And it’s clearly not a method to create monetary success in less than 10 years, much less 5.

As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable. You cannot work 3,000 hours at McDonalds in one week. You cannot force McDonalds to pay you $1,000 per hour. You cannot ask Wall Street to give you a 4000% return.

There are only so many hours in a day, and years in a life.

And herein lies the lie behind college: Young people are told to go to college so they can increase their PER HOUR rate from $12 to, say, $25 or $30. Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making $50/hour, they make $50,000/year.

The problem remains.

TIME CANNOT BE SCALED.

You cannot work 1000 hours in day.

You cannot live to be 500 years old.

You cannot ask Wall Street to give you a 4000% return in one year.

You cannot ask your employer to give you a raise from 50K/year, to $500K.

Your hands are tied because the equation you’ve given yourself SUCKS.

Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.

This means you become a creator of relative value.

Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
  • A) Your creation can eventually become separate from your time.
  • B) You can scale your creation to a level that can change your life.
The other metric is relative value.

Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.

Whatever you create, it must be relatively valuable in the global pool of options. This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.

Entrepreneurship is about improving, more so than inventing the next hot thing.

So let’s assume you invent a cool new widget that appeals to women who are mothers.

Your equation now becomes:

Wealth = Widget Profit X Widgets Sold.

This is where things change.

Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.

So if you sell 100,000 widgets at $5 profit each, you just earned $500,000.

If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling 4,000 units, you make $20K in week.

Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.

This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)

Of course I’m not suggesting this is easy.

The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.

Just to give you an example, how this works in real life, I’ve been “off the clock” for over 20 years. That means I earn money 24 hours a day, 7 days a week because my income and net worth is tied to UNITS, not HOURS or TIME. This is how can effectively call myself “semi-retired”.

I’m a best selling author [The Millionaire Fastlane] and [Unscripted] (published in over 15+ countries/languages) so part of my “equation” is how many books that sell worldwide.

And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. For instance, my second book Unscripted is a the #1 best-selling business book in South Korea (at least that’s why my publisher is telling me) but barely known in the states.

I also run a global community on entrepreneurship [The Fastlane Entrepreneur Forum] which operates 24 hours a day. A 24 hour operation means I earn 24 hours a day. I could go on and on with the other ventures but hopefully you get the point…

So are you ready?

Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.)

(bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …​

Most of those variables listed above I can CONTROL and SCALE.

1) Create relative value.

2) Recognize your equation.

3) Work the equation.

4) Act — Assess — Adjust

5) Repeat​

That my friend is how you create monetary wealth within 5 years.
I need to hang around with you a lot more @mjdemarco lol
 

Philip Marlowe

Every Day On, No Days Off
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Apr 28, 2017
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NE
Create yourself a mathematical equation
For those who were not at the summit, MJ gave an in-depth presentation on his equation. And what I realized - which should have been obvious - is that your whole life is an equation. All your goals can break down in a similar way.

When I decided to lose weight, I looked at my equation. It was something like:

Wake-up late + skip breakfast + Dunkin Donuts + Working Lunch....

You get the idea. My equation now is:

Wake-up early + work-out first + healthy breakfast + pack a lunch...

You can do the same thing for your business goals. Are you waking-up late and trying to hustle at night when you're tired, or are you making it a priority and grinding first thing when you're free? I've already been up for 2 hours (EST) and gotten my "ONE THING" done for today. If I didn't do anything for the rest of today, it would be a success. It's an amazing feeling.

This is obviously a complete hijack of the concept, but MJ's presentation changed how I viewed all of my goals. YMMV.

-PM
 

jmusic

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The biggest mistake I see my peers do that prevent them from executing on this equation (early 20's) is they lock themselves into their job. They use their income from their 50k/yr jobs to get new cars, houses, pay their loans, and go downtown to the bars. They don't save, invest, or plan for the future.
Very much so. And of course, to make the cubicle jail cell complete, they put everything on credit. Even though I'm still a cubicle slave (for now), I try to think of every purchase in terms of how many hours of my life will be required to pay for the next gadget.
 

MJ DeMarco

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Yzn

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Does making videos about a certain topic on Youtube count? even though you don't CONTROL the platform?
 

James Gill

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@MJ DeMarco

Does making videos about a certain topic on Youtube count? even though you don't CONTROL the platform?
I know you have tagged MJ and wouldn't attempt to answer for him but I don't think YouTube can ever be truly Fastlane. However there are lessons you can learn from MJ's fantastic opening post that can get you closer to Fastlane. To compare to MJ's book example which I have oversimplified:

MJ creates the book and then sells on various platforms at a margin to what it cost to create and market per unit. MJ doesn't control the platforms but he does set the sale price and can negotiate/control the publishing and marketing costs to a certain extent. Like YouTube, the reach of his various platforms is worldwide so his potential audience or customer is therefore worldwide.

With YouTube, you can create as many videos (units) as you like, you can control your marketing and your production cost, and your audience has the potential to make you profit from these units indefinitely as long as the video stays live. However it is no secret while your video will stay up indefinitely, the YouTube algorithm gives it somewhat of a lifespan.

And unlike MJ you will never be able to control your sale price. Your earnings (adsense $ per view) will always be controlled by the platform and you're also unable to update your videos once they go out of date. MJ can republish updated versions of his books to ensure the information remains accurate.

To get closer to the message MJ is promoting in this thread you need to think outside the box of just creating and uploading videos.

Adding more layers of income to each unit (video) would enable you to be able to have more control over your total sale price (average $ per view). Sponsorships and affiliate deals not only add an extra layer of income but also can be negotiated. By adding more variables to your equation, not only does this get closer to Fastlane but you will create more income along the way.

Instead of (unit=video):

Monetary Wealth = unit X (total views X adsense $ per view rate)

Turn your equation into:

Monetary Wealth = unit X ((total views X adsense $ per view rate)+(sponsorship value)+(total views X average affiliate conversion per viewer) X affiliate $ per conversion rate))

I might be off with the brackets there but I hope you see what I mean.

This isn't totally Fastlane, you won't be able to release one or two videos and live off of the proceeds while doing minimal maintenance work, you need to keep creating units, marketing them etc. But there are certainly actions you can take to become less Slowlane.
 

Yzn

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I know you have tagged MJ and wouldn't attempt to answer for him but I don't think YouTube can ever be truly Fastlane. However there are lessons you can learn from MJ's fantastic opening post that can get you closer to Fastlane. To compare to MJ's book example which I have oversimplified:

MJ creates the book and then sells on various platforms at a margin to what it cost to create and market per unit. MJ doesn't control the platforms but he does set the sale price and can negotiate/control the publishing and marketing costs to a certain extent. Like YouTube, the reach of his various platforms is worldwide so his potential audience or customer is therefore worldwide.

With YouTube, you can create as many videos (units) as you like, you can control your marketing and your production cost, and your audience has the potential to make you profit from these units indefinitely as long as the video stays live. However it is no secret while your video will stay up indefinitely, the YouTube algorithm gives it somewhat of a lifespan.

And unlike MJ you will never be able to control your sale price. Your earnings (adsense $ per view) will always be controlled by the platform and you're also unable to update your videos once they go out of date. MJ can republish updated versions of his books to ensure the information remains accurate.

To get closer to the message MJ is promoting in this thread you need to think outside the box of just creating and uploading videos.

Adding more layers of income to each unit (video) would enable you to be able to have more control over your total sale price (average $ per view). Sponsorships and affiliate deals not only add an extra layer of income but also can be negotiated. By adding more variables to your equation, not only does this get closer to Fastlane but you will create more income along the way.

Instead of (unit=video):

Monetary Wealth = unit X (total views X adsense $ per view rate)

Turn your equation into:

Monetary Wealth = unit X ((total views X adsense $ per view rate)+(sponsorship value)+(total views X average affiliate conversion per viewer) X affiliate $ per conversion rate))

I might be off with the brackets there but I hope you see what I mean.

This isn't totally Fastlane, you won't be able to release one or two videos and live off of the proceeds while doing minimal maintenance work, you need to keep creating units, marketing them etc. But there are certainly actions you can take to become less Slowlane.
Great reply.
 

MJ DeMarco

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Does making videos about a certain topic on Youtube count? even though you don't CONTROL the platform?
YouTube is a channel to reach an audience. As is Amazon. These are channels. They don't wholly represent my business, they are pieces of the business.
 

Envision

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Very much so. And of course, to make the cubicle jail cell complete, they put everything on credit. Even though I'm still a cubicle slave (for now), I try to think of every purchase in terms of how many hours of my life will be required to pay for the next gadget.
Credit isnt bad in all cases. You dont start out rich so I understand having to do what you have to do. Hell, i have debt but I have a method of getting rid of it and I have a reason for it. Im not unconsciously piling on debt without tracking it. Credit is fine, just be aware of what you are doing.
 
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Roughneck

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Oct 14, 2018
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As someone who has only just started reading unscripted, learning to change mindset about hyper-realities. This has really set in. Starting to view the world differently.

Everyone scripted is focused on that hourly rate or annual salary. I even found myself excited to see the "3%" pay increase thinking 'awesome, that's above inflation'.

These equations, simple equation I might add, make so much sense. Saved this post so I can come back to it again.

Sent from my Pixel 2 using Tapatalk
 

Roughneck

Contributor
Oct 14, 2018
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Sometimes debt is a necessary evil in alot of cases, like you said - having a game plan to reduce and eliminate is the key.
Credit isnt bad in all cases. You dont start out rich so I understand having to do what you have to do. Hell, i have debt but I have a method of getting rid of it and I have a reason for it. Im not unconsciously piling on debt without tracking it. Credit is fine, just be aware of what you are doing.
Sent from my Pixel 2 using Tapatalk
 

NMdad

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Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.
Holy moly, the simplicity of this is astounding.

It's been a while since I read TMF, and I know time can't be scaled. But focusing on scaling UNITS--that's the key to the puzzle. I knew that, but seeing it as an equation compared to wage-earner equations--that's the red pill.

Probability is another piece of the puzzle, and I think it's often either ignored or glossed over. For example, some people make an assumption: "If I could capture 10% of the market..." instead of making a reality-based assessment: "If A & B & C are true, then X is likely."

Probability lets you compare opportunities so you can choose what to focus on. For example, does X opportunity have a 1% or 80% probability? Very different. Does X opportunity have the (reality-based) potential to scale to 10x or 100x more units compared to Y opportunity? And what variables can you control that could increase the probability?

Profit margin per unit is another piece. Can I make $.01, $1.00, or $1,000 per unit, taking into account the probability of selling X units?

Having an equation is inescapable. But we have the choice to determine what it looks like.
 

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