The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

BOOK p.77 (regarding Slowlaners unable to get a raise)

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

yogiahimsa

New Contributor
Feb 13, 2019
5
9
13
Hi folks (and #MJ),
I have 2 questions about the following text in the Millionaire Fastlane:

p.77 (Ch.11):
As an employee, you can’t demand a pay raise greater than 10%, let alone 1,000%. Yet, as an employee of any company, this is your playing field. Your value is dictated and the job becomes a wealth delimiter with limitations that cannot be subverted.

1....this is your playing field: Does it mean that "This is the situation you're trapped in"?
2. The job becomes a wealth delimiter: ...(I am unable to interpret it).

Can anyone help me with these two questions? Thanks!
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
30,688
112,658
3,751
Fountain Hills, AZ
1) That's the game you're playing. Those are the rules.
2) Wealth is limited, capped, stunted, restricted.
 

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 3, 2014
1,993
6,953
1,496
England UK
This is my take on employment:

The maximum you will get paid in a job is dependant on the value you bring plus the difficulty of replacing you. That's why surgeons earn more than cleaners.

However, just because you bring lots of value to your company it doesn't mean that they will pay you the maximum available for that value, only what the current market conditions dictate. Again the easier it is to replace you the less you are worth.

There will always be a ceiling to your earning unless you are on commission and even they they are still making the lions share of profit.

I met someone yesterday who's company charges him out at £200 per hour (about $260). He doesn't get even 20% of that.
 

Chapas

Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Nov 23, 2014
196
540
245
31
I remember once working for a company where we had a really lucrative commission package. We would get 50 % of what we sold.

Products ranging from 80 to 1500 USD. So we made good money. But like in every other slowlane environment we do not have control of things. After 5 or 6 months the management realized that why in the world should they pay 50 % in commission when they could get new good sales people for a much lower price. Needless to say that the commission quickly fell to around 10 %.

The ones that were unhappy quickly got replaced by new sales people who were fine with the 10 %. Didn't take a long time before I quit as well. The company didn't care. We were all replaceable. If the new sales people would sell 2 or 3 times worse than the previous ones, the company would still earn more money due to the decrease in commission.

They say starting a business is stressful. But oh boy, putting in a lot of work and seeing someone else rip 90 % of the benefits. THAT is truly stressful!
 

PizzaOnTheRoof

Moving Forward
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,162
2,485
566
Texas
I remember once working for a company where we had a really lucrative commission package. We would get 50 % of what we sold.

Products ranging from 80 to 1500 USD. So we made good money. But like in every other slowlane environment we do not have control of things. After 5 or 6 months the management realized that why in the world should they pay 50 % in commission when they could get new good sales people for a much lower price. Needless to say that the commission quickly fell to around 10 %.

The ones that were unhappy quickly got replaced by new sales people who were fine with the 10 %. Didn't take a long time before I quit as well. The company didn't care. We were all replaceable. If the new sales people would sell 2 or 3 times worse than the previous ones, the company would still earn more money due to the decrease in commission.

They say starting a business is stressful. But oh boy, putting in a lot of work and seeing someone else rip 90 % of the benefits. THAT is truly stressful!
I wonder how that company is doing now?
 

Roli

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 3, 2015
1,566
2,559
680
Obviously MJ has given you the exact interpretation. When discussing this part I would also add, that your wealth is restricted and your 'game' set, because you cannot leverage your time. If you do a task in half the time your boss asks you to, you can't go home and start working on your own stuff.

Also the extra tasks he gives you will not bring you any extra income, you work from 9-5 for a set income even if you are 100 times more efficient than the next most productive person in the company.
 

PizzaOnTheRoof

Moving Forward
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,162
2,485
566
Texas
Obviously MJ has given you the exact interpretation. When discussing this part I would also add, that your wealth is restricted and your 'game' set, because you cannot leverage your time. If you do a task in half the time your boss asks you to, you can't go home and start working on your own stuff.

Also the extra tasks he gives you will not bring you any extra income, you work from 9-5 for a set income even if you are 100 times more efficient than the next most productive person in the company.
Which is why I hate hourly rates. I would take project based or fixed rate any day.

Not only is there no reward for efficiency, but you’re effectively punished because you work less hours.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Got it several weeks ago and have listened to it several times now. I've definitely met both...
  • Sticky
MARKETPLACE Fox' Web School's "Legend" Group Coaching Program 2020
For those with the "can web design be Fastlane" question this video by @MJ DeMarco is a great...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Out of curiosity, what types of businesses are you advising on? (I read this whole thread...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...



Forum Sponsor

sponsor

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom