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

Weighted CENTS

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

  • Thread starter
  • Banned
  • #1

KLaw

Gold Contributor
Speedway Pass
Aug 4, 2012
918
1,046
391
ohio
@Scot got me to thinking when he posted this...
"Run it through CENTS.

Do you have Control?

Do you have Entry?

Sure, scale, time and need (maybe) are there.
But violating Control AND a Low as hell barrier to entry, you’re either makingsomeone else’s fast lane or you’re setting yourself up for failure."
Are each of the C E N T S created equally? I.e. 20% each. Or are some more important then others? Do these weigh differently depending on...
Business type or personal goals?
 

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

Supercar

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Mar 14, 2012
272
501
236
Michigan, Arizona
Scale, Time and Need are sort of binary. Without some of them the business will be either small or labor intensive.

Entry and Control are not binary, but they are time dependent. Facebook, Amazon and eBay initially entered their industries with almost no barriers. They will eventually get displaced if they do not keep beating every new entrant on price and service. And those who make millions selling on these platforms have no control, and no entry barriers. But neither the lack of entry barriers nor the lack of control has prevented many of them from making small or large fortunes.

Time, the greatest equalizer, the most important, IMO. I am still hesitant to close one of my businesses, even though it has no Scale. The Need, Entry, and Control are all there, and it takes almost none of my time. I wish I had 10x of such businesses.
 

JoelM

Contributor
Feb 21, 2018
30
47
99
41
Maryland, MD
I am in the process of partnering in a business that has the potential for a 1,500% ROI. It is very strong on Need and Scale, medium on entry and control, but very weak on time. My objective is to become millionaire, then reinvest in passive income. I believe that most businesses start ups lack some of the commandments, especially the time one. I think that the most important aspects in the short run are need and scale. If I have a plan b for the control aspect, I can leverage any situation with money, time and other resources. Time is the least of my concerns in the short term.
 

MidwestLandlord

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 6, 2016
1,482
10,829
2,416
Don't over think it.

It's a guide to identifying weaknesses more than anything, IMHO.

My last business was weak on control for instance. My current new business has control and time issues, but massive potential for scale.

A guy I know quit a $100k per year job to open a scrap booking store for instance. Fails all of CENTS.

Using CENTS as a guide might have saved him from his current mess (maybe not, as "do what you love!" Is a strong force to contend with lol)

It also tells me a lot about myself. I obviously value scale more than control, as I def have a pattern of trading one for the other. So it gets me to ask, "why?"
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
30,216
108,937
3,751
Fountain Hills, AZ
Are each of the C E N T S created equally? I.e. 20% each. Or are some more important then others? Do these weigh differently depending on...
I think the weightings fluctuate dependent on industry, opportunity, competition, etc.

However, I'd give NEED the most weighty value.

As I wrote in Unscripted, it is the table top, it's 4 legs are Control, Entry, Time, and Scale.

If you had a gun to my head and said, "Weight 'em biatch!" I go this way... (Scale 1 to 5, 5 more important)

  • Control: 3 (you can still make a lot of $$ and violate control, low control = big risk)
  • Entry: 4 (ties into the strength of need and competition)
  • Need: 5 (duh, product/service is everything, PRODUCTOCRACY!)
  • Time: 2 (time must eventually come into play so your time is freed, but too many people want this right out of the gate and it kills their chances of success. Look at TIME as a long-game, not short-game.
  • Scale: 4 (this is how you rapidly accelerate wealth, so yes, important.)
but very weak on time.
If you're making $10,000 an hour, yes, time can be displaced.
 

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
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
Just had a personal highlight of the program so far - @GuitarManDan gave a one hour Zoom talk on...
  • Sticky
MARKETPLACE How To Create A 100K-1M+ Sales Funnel
While this is a marketplace post marking the re-launch of my popular course “5-Steps to Create a...
  • Sticky
MARKETPLACE KAK’s “Kill Bigger” Incubation Program- With DAILY personal attention.
Received, and I replied ;) Hope you will take out more protegesss soon ;)
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
This is your May reminder that you can do this. I'll keep it short. These are the May promos...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks! This is a cool idea, actually. I would like to use your experience as I heard that these...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
would this be available in paper version? I know it's short, but most of my family is...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Here is where you eliminate uncertainty from the future! I wanted to post this image as I...


Visit A Forum Sponsor
sponsor

New Topics

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
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock