Crack the Code to Wealth and Live Rich for a Lifetime
0984358102
MJ DeMarco
Notes
Normal is not something to aspire to, it’s something to get away from.
Jodie Foster
“The object of life is not to be on the side of the masses, but to escape finding oneself in the ranks of the insane.”
Marcus Aurelius
By default, culture will define wealth for you.
The driving force behind Get Rich Slow is time... Whether you’re paid hourly or annually—it doesn’t matter—you can’t leverage time!…Compound interest and a job have the same disease: the sinful and voracious consumption of your time while forsaking control…A business attached to your time is a job.
Slowlane is predisposed to mediocrity…If you want to escape the Slowlane and find wealth and freedom fast, you’ve got to dump the job. Let me repeat. Dump the damn job! Jobs suck… Slowlane millionaires are employees. Fastlane millionaires hire employees…The Fastlane Is a Business System: The Slowlane Is a Job…become a producer first and a consumer second.
Net Profit = Units Sold × Unit Profit… Asset Value = Net Profit × Industry Multiple
If you can combine both scale and magnitude, we won’t be discussing millions but billions.
Are you investing in your brand or in someone else’s?
If you can’t be the source, serve the source…Lead generation is popular in fragmented industries, where the industry players consist of mainly small to medium-sized businesses.
Fastlane success resides in execution, not in the idea…The business of speed is execution.
A weak business commitment commits you to weak assets. Weak assets do not accelerate wealth.
3 Lanes
- Sidewalk
- Slowlane
- Fastlane
5 Commandments
- Control
- Entry
- Need
- Time
- Scale
5 Types of Businesses
- Rental systems
- Software systems
- Content systems
- Distribution systems
- Human resource systems
3 Interstates
- Internet
- Innovation
- Intentional iteration
Paradox of Practice
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