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P789

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Sep 23, 2020
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I have a problem of one of the commandments, which is CONTROL. Any business violates this commandment not because of being controlled by one Huge Business but the government controls ALL of the businesses, including large-scale ones.

The government can shut down any business within its territory which is already demonstrated when ABS-CBN (Alto Broadcasting System and Chronicle Broadcating Network) got off-air last May 4, 2020 after they refused to give their franchise.

So, to have control of your business, simply follow government regulations.

Correct me if I’m wrong.

EDIT: Added something
 
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thechosen1

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Time and Scale seem to be the most elusive commandments.

Of the two I’m not sure which is more rare, but if you include magnitude with scale, time seems to be the rarest of all...
 

MJ DeMarco

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I have a problem of one of the commandments, which is CONTROL. Any business violates this commandment not because of being controlled by one Huge Business but the government controls ALL of the businesses, including large-scale ones.

The government can shut down any business within its territory which is already demonstrated when ABS-CBN (Alto Broadcasting System and Chronicle Broadcating Network) got off-air last May 4, 2020 after they refused to give their franchise.

So, to have control of your business, simply follow government regulations.

Correct me if I’m wrong.

EDIT: Added something

Kinda like saying, Well if an asteroid hits the earth, do you really have control?

If aliens invaded earth, do you really have control?


If my country voted for NAZIS to run the government, do you really have control?

Stop being ridiculous for the sake of being argumentative.
 
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P789

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Sep 23, 2020
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Kinda like saying, Well if an asteroid hits the earth, do you really have control?

If aliens invaded earth, do you really have control?


If my country voted for NAZIS to run the government, do you really have control?

Stop being ridiculous for the sake of being argumentative.
Ok thank you for clarification and I’m sorry because I was so pragmatic lately in the recent situation here.

P.S. I need to calm down
 

MJ DeMarco

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Ok thank you for clarification and I’m sorry because I was so pragmatic lately in the recent situation here.

P.S. I need to calm down

No worries. If we dig deep enough, you realize we control nothing. Control is just relative to the system we find ourselves in.
 

Flint

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It's never been about full control over all possible variables.

In my book, C in CENTS stands for risk control. Through diversification, abundance, multiple channels, safety margins, redundancy measures, reduction/prevention of a single point of failure etc.

Trying to reduce all possible risks to zero is analysis paralysis. Going all in without any risk control and hoping for the best is learning the lesson the hard way.
 
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Vasili27

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I have a question when you say "need(value)" does it have to be a need with in the market or can it be a need you create for example, say company 1 sells shirts and they are making good money, but then company 2 decides to sell shirts but makes the experience and the quality way better.
 

MJ DeMarco

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say company 1 sells shirts and they are making good money, but then company 2 decides to sell shirts but makes the experience and the quality way better.

Value skew:
1) Quality
2) Experience
3) Marketing

You have 3 reasons why someone should buy your t-shirts over the "company making good money".

Need isn't always about "need" per se, but about WANT, DESIRE, and EMOTIONAL connections.
 

Vasili27

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Value skew:
1) Quality
2) Experience
3) Marketing

You have 3 reasons why someone should buy your t-shirts over the "company making good money".

Need isn't always about "need" per se, but about WANT, DESIRE, and EMOTIONAL connections.
thanks MJ appreciate the feed back
 
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Neptisces

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May 10, 2022
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Thought I'd start a thread based upon the CENTS Business Commandments found in The Millionaire Fastlane and UNSCRIPTED , just in case someone searches for it by search engine.

Since this concept is covered in both books, I don't think I ever posted an "official" thread on the topic. It would be nice to have a thread for it, especially for people who have never read my books and come across the concept in some other venue or dialogue.

Also, I'd like to document its existence beyond the 2 books, just in case another 21-year old wannabe coaching guru steals it and claims it as his own.

So here we go...

The CENTS Business Commandments
(As found in The Millionaire Fastlane (CENTS) and Unscripted by MJ DeMarco)

The CENTS Business Commandments is a methodology used for testing the veracity of your business idea or opportunity from an Fastlane entrepreneurial perspective. The CENTS Commandments is the foundation for a Fastlane Business found in the Unscripted Entrepreneurial Framework (TUNEF).

The purpose of the commandments is to improve your probabilities for creating a business that can change your life forever through RAPID WEALTH ACCELERATION, both income (business profit) and net worth (business valuation.)

The centerpiece of the CENTS Commandments is NEED, or relative value -- value relative to other offerings available in the marketplace. Relative value considers the entire marketplace -- a blog full of fitness tips might be valuable, but it isn't RELATIVELY valuable because there are thousands of similar blogs.

View attachment 18212

Each Commandment is as follows...
Thank you for creating this post. Much appreciated
 

Issi007

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Apr 27, 2022
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The Commandment of Scale (centS)

A productocracy’s fifth and final CENTS Commandment within the Fastlane structure is the Commandment of Scale.

Scale instructs that legacy value systems must be replicated through mass or magnitude while making a profitable impact.

The four definitive components are:

1. Legacy value system
2. Replication
3. Mass or magnitude
4. Profitable impact

First, your offering must eventually evolve into a legacy system in accordance with the four prior commandments. A legacy system carries the components of the TIME component, both physicality and detachment.

Second, your LVS must be replicable, or easily copied into multiple units, locations or chains.

Optimally, this replication should extend among hundreds or thousands, if not millions, of units. For instance, software is easily replicated. The same goes for a website service where increased users and traffic extend replication. My forum receives over 100,000 visitor sessions per month. In the ten years I owned my Internet company, I served a multitude of millions. Physical products like this book also offer replicative elements; my printer can print one million books as easily as 10,000. Replication turns one store into twenty, one duplex into a dozen, and hundreds sold to millions.

Third, replication must have either mass or magnitude. Most people think scale automatically equates to mass-market millions or operating in multi-billion market size. However, scale can also be graced through magnitude, or the gravity of your impact. For instance, if you provide housing for twenty families (not mass market), you’ve scaled by magnitude and probably are doing well—housing is a magnitudinal endeavor. Sell ten restaurant franchises for your organic, GMO-free restaurant, and again, brute-force magnitude occurs.

The fourth element in the definition is a profitable impact. The UNSCRIPTED business is about profits, not ten years from now but within your first year. Nowadays, too many businesses are labeled a success by virtue of growth or run rates. Many never make a profit for years and bleed cash like an Instagram playboy. Most start-ups birthed on the tech coast create value and make an impact. The problem is, they don’t make a profitable impact for years.

Amazon is a great example of a company that makes a phenomenal impact but largely hasn’t been profitable. Remember: Selling hundred-dollar bills for fifty bucks isn’t what we want. “Bleeding value” might grow a company fabulously and have VC’s drowning us in term sheets, but that’s not our objective. Let the deep-pocketed sultans of Silicon Valley make those gambles.

Your goal is UNSCRIPTED , which demands profitability now, not later. And if you want to create the next hot start-up reveled on TechCrunch, the better bet is doing it UNSCRIPTED where “F*ck you” opens up more possibilities.

As producers, we are in the business of serving consumers—not few, but many. However, before impacting the masses, we must first impact one—and do so profitably. If you can impact one profitably and your legacy system is replicable, congratulations, you’ve laid a scaling track.

The act of profitably impacting many is where your income (and life) makes quantum leaps. Optimally, your business solution should impact an industry large enough to impact your life. If you have a software solution appealing to hospitals, the appeal of magnitude scale exists. If any business owner could use your product, the appeal of mass scale exists.

The market size constructs the ceiling under which we limit ourselves. If your solution sells for twenty bucks and your target customer is an Internet-savvy octogenarian who owns a Corvette, the market ceiling is at your ankles. How big is that market? You can’t fill a pool with an eyedropper. Olympic swimmers don’t train in bathtubs. Swim in bodies of water large enough to take you somewhere.

Excerpt From: MJ DeMarco. “UNSCRIPTED : Life, Liberty, and the Pursuit of Entrepreneurship.”
It is much clearer now after reading your post.
Really efficient framework, i already started to use it.

Thanks for sharing MJ !
 

Andrew 1177

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Jul 6, 2022
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Done!

Thread is OPEN and I marked it GOLD because every aspiring entrepreneur who hasn't read my books needs to read it!
Thanks for putting this together. While I've also read the books, this was a quick and easy way to re-wrap my head around the concept of CENTS.
 

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