The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Lessons Learned from The Fastlane

Jorge

Bronze Contributor
User Power
Value/Post Ratio
18%
Oct 5, 2007
580
104
42
Mendoza, Argentina
Ok, so I was thinking that this are the key points of what I've learned from all members on this forum.

I don't know if there's a thread like this one already, if so just close this one :)

What I learned (or things I already supossed but where confirmed by the forum)

Concepts:

- Your most important asset is your time
- Its never to late to change your life
- Where slowlaners see problems, fastlaners see opportunity
- In order to become successful, first you must know yourself
- Failure is one of the best ways to learn
- Success is more than money

Rules:
- Successful businesses are based on solving people needs
- You don't need a lot of cash to create a successful business
- Usually, if everyone is in a certain market, the opportunity has gone
- Being rich is just a consequence of good choices

As I stated, this is only my POV. I cited some threads just as a follow up to the concepts, but off course others may take another lesson from each thread.

I'm sure there are some things that I'm forgetting, you are all invited to complete this thread :smxB:

Cheers! :thumbsup:
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
Last edited:

Yankees338

Bronze Contributor
User Power
Value/Post Ratio
8%
Jul 24, 2007
1,800
149
33
NJ/MD
Re: Lessons Learned from TFTM

Excellent, excellent post, Jorge. Rep++++++++++++++++ (wish I could rep a post more than once :))

I'll try to think of a few more as I browse the forums tonight...
 

Runum

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
101%
Aug 8, 2007
6,221
6,298
DFW, Texas
Re: Lessons Learned from TFTM

Good summation Jorge! ++++ speed.
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
445%
Jul 23, 2007
38,083
169,505
Utah
Re: Lessons Learned from TFTM

Great thread! I thought "TFTM" was discussion about a stock ... Im gonna edit the title ... plus speed+
 

Jorge

Bronze Contributor
User Power
Value/Post Ratio
18%
Oct 5, 2007
580
104
42
Mendoza, Argentina

Jorge

Bronze Contributor
User Power
Value/Post Ratio
18%
Oct 5, 2007
580
104
42
Mendoza, Argentina
Thanks for the speed everyone!

However, more than the speed, I'm interested in knowing what have you learned from this forum.
 

yveskleinsky

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
23%
Jul 26, 2007
2,215
515
46
Your belief in yourself has to be stronger than the disbelief of others.

Fastlane is not just about making money, it is about how you are making your money: create a system around a need.

There is the rat race, where you have a job and/or your expenses exceed your income (generally climbing the corporate ladder). The fast track, where passive income exceeds expenses (generally owning the ladder). Then there is the fastlane: passive income created from a system which is scalable, and achievable in a short timeframe (owning a web-based dropshipping ladder site!)

Any idea can become fastlane.

Having a community of successful, like-minded people to bounce ideas off of: priceless.

GREAT topic. Mods, can we sticky this?
 

andviv

Gold Contributor
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
40%
Jul 27, 2007
5,361
2,143
Washington DC
Yves, awesome post. Rep++
Yes, I think we will stick it... what forum should it be in though?
 

Runum

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
101%
Aug 8, 2007
6,221
6,298
DFW, Texas
I've learned about systems or the need for systems. I am still learning about systems. I only own 7 rental units right now and what I am seeing is that it gets more difficult to keep up with all the debts and collections with more units. Right now I can't imagine the headache for keeping up with 100+ units. So, earlier in my investing, I couldn't see the need to have a system for each aspect of the business. Now I see the need and know that I really can't grow, or shouldn't grow, until I figure out how to handle what I already have. I am making progress on it and hope to have some solid systems in place shortly. Thanks to all for promoting concepts and ideas even though I may not be mature to comprehend them yet. Good luck to all.:cheers:

Greg
 

Jorge

Bronze Contributor
User Power
Value/Post Ratio
18%
Oct 5, 2007
580
104
42
Mendoza, Argentina
*Bump*

Nobody else learned anything?
 

Russ H

Gold Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
21%
Jul 25, 2007
6,471
1,363
62
Napa Valley, CA
yveskleinsky said:
mods- can we sticky this?

Sure.

Also moved to General Discussion, since this is not a multi-millionaire story. :)

-Russ H.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

slim_jim

Contributor
User Power
Value/Post Ratio
13%
Jan 31, 2008
299
38
62
Columbus, OH
Not a lesson learned, but the people in the forum and at the "B&P" give you confidence to move forward, to get off the couch.

The like minded people being part of your team, bouncing your ideas/thoughts off of.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

unicon

Contributor
Read Unscripted!
User Power
Value/Post Ratio
27%
Feb 23, 2008
211
58
Reaffirms community

Community is the salvation of the world - no small thing

The framework set up here is efficient, high quality input (speed itself)

Efficiency can be measured = Output / Input
 

michael515

Bronze Contributor
User Power
Value/Post Ratio
114%
Aug 27, 2007
91
104
44
I have learned you must embrace uncertainty and move forward anyway.

Andy Stanley once said that generally speaking you're probably never going to be more than 80% certain. Waiting for greater certainty may cause you to miss an opportunity.

Perhaps thats what separates the top 1% from the rest. When 99% of us see it as risky the 1% see it as a risk but take it anyway. Courage - acting in spite of fear.

 

rzach41

Contributor
User Power
Value/Post Ratio
22%
Oct 23, 2007
200
43
One glaring observation I have made just in these past two days is:

Don't get emotionally attached to your idea/business

Two days ago we changed the business model of our current project. I'll tell you what. I was absolutely in LOVE with the old idea. In fact, I was so bent over backwards that it clouded my judgement without me even realizing it. Only until we changed our business model did I realize how MEDIOCRE our idea was. It's scary to think that you can fall into a state of mind where you are unable to see the big picture for what it really is.

So what I personally learned was to approach your business/idea as objectively and unemotionally as possible. Anything otherwise and you risk viewing your idea/business through a pair of tainted sunglasses.

-Ryan
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

exon

Contributor
User Power
Value/Post Ratio
40%
Jun 29, 2009
99
40
Croatia
compilation of 30 short&quick FL Tips that I have learned here and use them every day:

1) If you think something is impossible - Give Up or consider inventing from failures.
2) The only enemy to victory is you.
3) Focus only on the end result & goal.
4) Problems are challenges that need to be overcome.
5) Other people's opinion's do net make your reality.
6) Focus only on one (1) thing and kick a$$ at it.
7) 10 businesses that make $100/mo. aren't better than 1 that make $1.000/mo.
8) You have to eat, live and shit your thing.
9) Talent is not required, but desire and discipline are.
10) Every customer service must be S.U.C.S..
11) Service is better than product.
12) B2B is better than B2C. Companies care more about their ROI than average Joe.
13) Don't be Guru'd.
14) Answer to what you want to be must always represent a dream, vision and hope.
15) There is no experts in predicting markets.
16) Opportunity dosn't care about your timing.
17) Good money is $20.000/mo.; Big money is $200.000/mo.
18) You must do something for what you thing is good and enjoy.
19) "How can I make moey?" mindset will lead you no where.
20) Build system that generate money by filling needs and sole problems.
21) No product = no shipping + no product and/or shipping headaches.
22) Always have full control over your system. No matter are they made by partners, hire-outs or in-House.
23) Do what you love and money will follow is BS.
24) Anything build on sand comes crumbling down.
25) Never stop learning.
26) Get rich quick is good / Get rich easy is evil.
27) What do I have to offer the World?
28) Use "Pay Per Drink" revenue model.
29) Don't listen to those who have less.
30) Impact Millions.
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
445%
Jul 23, 2007
38,083
169,505
Utah
compilation of 30 short&quick FL Tips that I have learned here and use them every day:

1) If you think something is impossible - Give Up or consider inventing from failures.
2) The only enemy to victory is you.
3) Focus only on the end result & goal.
4) Problems are challenges that need to be overcome.
5) Other people's opinion's do net make your reality.
6) Focus only on one (1) thing and kick a$$ at it.
7) 10 businesses that make $100/mo. aren't better than 1 that make $1.000/mo.
8) You have to eat, live and shit your thing.
9) Talent is not required, but desire and discipline are.
10) Every customer service must be S.U.C.S..
11) Service is better than product.
12) B2B is better than B2C. Companies care more about their ROI than average Joe.
13) Don't be Guru'd.
14) Answer to what you want to be must always represent a dream, vision and hope.
15) There is no experts in predicting markets.
16) Opportunity dosn't care about your timing.
17) Good money is $20.000/mo.; Big money is $200.000/mo.
18) You must do something for what you thing is good and enjoy.
19) "How can I make moey?" mindset will lead you no where.
20) Build system that generate money by filling needs and sole problems.
21) No product = no shipping + no product and/or shipping headaches.
22) Always have full control over your system. No matter are they made by partners, hire-outs or in-House.
23) Do what you love and money will follow is BS.
24) Anything build on sand comes crumbling down.
25) Never stop learning.
26) Get rich quick is good / Get rich easy is evil.
27) What do I have to offer the World?
28) Use "Pay Per Drink" revenue model.
29) Don't listen to those who have less.
30) Impact Millions.

Most excellent!! I even had to copy this for myself to make sure I don't forget anything. Speed+
 

gary29910

PARKED
User Power
Value/Post Ratio
0% - New User
Nov 8, 2009
10
0
56
If we can figure out how much out time is worth and delegate or
outsource the menial labor task or bottom line & peace of mind
would be much better.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top