- Joined
- Oct 20, 2013
- Messages
- 260
Rep Bank
$780
$780
User Power: 83%
How to start
1. Filling a gap in your market, a need
The biggest cash return will be the one that is the most risky. Every market has gaps and needs that need to filled, some are easier to see than others. Finding the balance between a need and the skills you can relate to is very important. Sometimes you can find the need and from there, you can build the skill to run a business to fill it. So how come, no one else has done it yet? why me? Because it takes some one with a good brain to bring everything together and turn a problem into a solution.
2. Maintaining a sustainable System
Maintaining a sustainable system to generate cash flow, while reducing the potential risk of loses ad much as possible is the backbone to the real big bucks.
3. Idea, Plan, Execute
Simplified, its a 3 step process with alot of crazy in between. A good idea comes, plan it on paper as a reference point, and the most important part is to prepare yourself and take action.
4. Dealing with resistance
As you become the boss, your journey will throw many obstacles your way. Mostly, people who are not aligned with your journey. Most great ideas and people are not aligned with anything at all. Just themselves! You will get resistance from competitors, family, friends, spouses, just about everything. It is a test of your will and how much you believe in what you have. As you get with the program, you learn to develop ways to deal with this resistance. Everyone is different. Whats works for me and what works for you are different. We come from different scenarios. Just expect resistance when it comes.
5. Controlling the bad you.
You will find the the negative you is getting in your way. Telling you that you will fail, or you will lose. Even when you have a good business going, you will always be fighting yourself, whether you realize it or not. The ones who come out on top are the ones who control the pull in the wrong direction and stay on path.
6. Overshooting for Position.
Overshooting for position. What do I mean by that? So you have a billion dollar idea, right? Your everyy move should be to position yourself that much closer to the final goal.
7. Relying on yourself.
This may sound easy but its the toughest point from anything on the list. Over the years, I have learned, that if you cant rely on yourself to pull through, how can anyone rely on you. Having a business means other people rely on you.
8. Developing TRUE business relationships.
A business relationship, I would say is not something that you force or constantly look for, it will just fall into line. But a good business relationship is one where you neither of you need each other to be successful.
9. Diversity timing.
After reaching a certain level of success, it is a good idea to diversify and invest in new business' and assets. However, the timing of diversifying can make or break you. If you cant do it 5 times over in cash, stay away.
Purchasing Rules and Philosophy
1. Hard cash and fully paid investments only
I am a hard cash kind of guy. If i don't have it, I don't have. I have lived by this philosophy, and it has done me well.
If you cannot buy something 5 times over, don't buy it. For example, If I wanted to buy a 2 million dollar house, I have to have 10 million cash in my bank account and so on.
2. No loans, no lease, just own
Given the rules above. If I want to bring anything into my life, it is fully paid for and taken care of, I don't lease and never borrow. In the long run it will put you in a hole and slows down the financial success curve. With the hard cash way, the beginning is slower, but once you get a certain portfolio, you sky rocket from there on.
3. If you are cheap, you are cheap
Don't always look for the best deal and be a haggler, you wont be a billionaire, maybe a millionaire. A millionaire is a pretty good deal. A billionaire is expensive.
4. Buying is business
Do right on a small deal, get access to the big deal. I can't count the number of times, i have bought something from a business and a few months down the line, I am having lunch meetings with the owners of the companies.
Business Rules
1. ALWAYS protect your business
This is the most important of all. Don't bring anyone in, especially greedy people with no loyality. You will find alot of rich people are not loyal at all, and always go for the better deal. What does that mean for you. You will get screwed over eventually, either they will eat you or ditch you for something better. And believe there is always someone bigger than you. Even if you have a few billion.
2. If you can do all by yourself, do it.
This mentality is just that. If you can make the big bucks and do it all on your own, then you go right ahead. Its the most fools proof and safe way. Off course, when you reach a certain level, you will not be able to manage it all by yourself and you must expand. But with this approach you all always do the most you can on your own. And you would be surprised how well you can do if you are a one man team. Off course, You will need people who can manage for you as you expand, because you only have so much time on your hands. Hire aid when time doesn't let you take care of it on your own
3. Keep cool at all times, unless your life is on the line.
Never get angry at anything or anyone. A huge part of success is never having anyone dislike you. When I mean anyone, I mean not a single person. You have to learn to let things slide. Insults, disrespect, whatever it is. After all you are the billionaire. The minute you act bigger than someone towards them, they will do something bigger than them towards you. They still might lash out, on the contrary, but it would be without reason, therefore easily handled.
4. The best business partners are ones that want nothing from you
If someone wants to do business with you to benefit from you, stay away. Go into business with someone because they like you for what you can offer to their network.
5. Systematically reward your partners
If its commission, or bonus', it should be calculated as a profit:ratio benefit.
Life Rules
1. What else is there to do
Seriously, what else is there to do, than be the king and build your empire. Everything else is just a distraction. social norms, living within the limit of your mental and social comfort.
2. If its socially conditioned, its wrong.
If more than a 50% of people around you have the same belief to being successful, then its wrong. Come to think of it, which one of them is successful?
Its cool to have a girlfriend to satisfy your needs, a companion, but at the end of the day, whats easier? Getting laid and filling your emotional needs? Or becoming a billionaire?. You do the math. Its hard for a reason.
2. Eat shit, but always give.
I can only say this here. But giving is a duty to your cause. You will naturally give if you are self made. I don't have a certain amount I give. But as I go along my day, when I come across someone I instinctively feel needs a push in life, I give, whether financially or emotionally or both.
3. Eat good, stay healthy, live comfortable
This is the biggest part to being free. Its what drives you. When you have a good diet that you also enjoy and you keep as healthy as you can, live is a good house/apt. that you like, everything is set up to fall into place elsewhere.
4. Stay clean and Tidy from outside and from within.
Keep your house and living area clean, have clean clothing, a clean kitchen, good hygiene
5. Look as good as your cash
Have good fashion sense, be well groomed, and look s as good as you can. first image opens attitudes. Have people respond to you the way you want from the first second.
6. Reward yourself when the opportunity shows itself
Whether, its a nice vacation, an exotic car, or even a girlfriend for a few weeks, or all 3 together. Always reward yourself with what you enjoy, desire and want, as long it does not harm anyone or anything.
To be continued...
1. Filling a gap in your market, a need
The biggest cash return will be the one that is the most risky. Every market has gaps and needs that need to filled, some are easier to see than others. Finding the balance between a need and the skills you can relate to is very important. Sometimes you can find the need and from there, you can build the skill to run a business to fill it. So how come, no one else has done it yet? why me? Because it takes some one with a good brain to bring everything together and turn a problem into a solution.
2. Maintaining a sustainable System
Maintaining a sustainable system to generate cash flow, while reducing the potential risk of loses ad much as possible is the backbone to the real big bucks.
3. Idea, Plan, Execute
Simplified, its a 3 step process with alot of crazy in between. A good idea comes, plan it on paper as a reference point, and the most important part is to prepare yourself and take action.
4. Dealing with resistance
As you become the boss, your journey will throw many obstacles your way. Mostly, people who are not aligned with your journey. Most great ideas and people are not aligned with anything at all. Just themselves! You will get resistance from competitors, family, friends, spouses, just about everything. It is a test of your will and how much you believe in what you have. As you get with the program, you learn to develop ways to deal with this resistance. Everyone is different. Whats works for me and what works for you are different. We come from different scenarios. Just expect resistance when it comes.
5. Controlling the bad you.
You will find the the negative you is getting in your way. Telling you that you will fail, or you will lose. Even when you have a good business going, you will always be fighting yourself, whether you realize it or not. The ones who come out on top are the ones who control the pull in the wrong direction and stay on path.
6. Overshooting for Position.
Overshooting for position. What do I mean by that? So you have a billion dollar idea, right? Your everyy move should be to position yourself that much closer to the final goal.
7. Relying on yourself.
This may sound easy but its the toughest point from anything on the list. Over the years, I have learned, that if you cant rely on yourself to pull through, how can anyone rely on you. Having a business means other people rely on you.
8. Developing TRUE business relationships.
A business relationship, I would say is not something that you force or constantly look for, it will just fall into line. But a good business relationship is one where you neither of you need each other to be successful.
9. Diversity timing.
After reaching a certain level of success, it is a good idea to diversify and invest in new business' and assets. However, the timing of diversifying can make or break you. If you cant do it 5 times over in cash, stay away.
Purchasing Rules and Philosophy
1. Hard cash and fully paid investments only
I am a hard cash kind of guy. If i don't have it, I don't have. I have lived by this philosophy, and it has done me well.
If you cannot buy something 5 times over, don't buy it. For example, If I wanted to buy a 2 million dollar house, I have to have 10 million cash in my bank account and so on.
2. No loans, no lease, just own
Given the rules above. If I want to bring anything into my life, it is fully paid for and taken care of, I don't lease and never borrow. In the long run it will put you in a hole and slows down the financial success curve. With the hard cash way, the beginning is slower, but once you get a certain portfolio, you sky rocket from there on.
3. If you are cheap, you are cheap
Don't always look for the best deal and be a haggler, you wont be a billionaire, maybe a millionaire. A millionaire is a pretty good deal. A billionaire is expensive.
4. Buying is business
Do right on a small deal, get access to the big deal. I can't count the number of times, i have bought something from a business and a few months down the line, I am having lunch meetings with the owners of the companies.
Business Rules
1. ALWAYS protect your business
This is the most important of all. Don't bring anyone in, especially greedy people with no loyality. You will find alot of rich people are not loyal at all, and always go for the better deal. What does that mean for you. You will get screwed over eventually, either they will eat you or ditch you for something better. And believe there is always someone bigger than you. Even if you have a few billion.
2. If you can do all by yourself, do it.
This mentality is just that. If you can make the big bucks and do it all on your own, then you go right ahead. Its the most fools proof and safe way. Off course, when you reach a certain level, you will not be able to manage it all by yourself and you must expand. But with this approach you all always do the most you can on your own. And you would be surprised how well you can do if you are a one man team. Off course, You will need people who can manage for you as you expand, because you only have so much time on your hands. Hire aid when time doesn't let you take care of it on your own
3. Keep cool at all times, unless your life is on the line.
Never get angry at anything or anyone. A huge part of success is never having anyone dislike you. When I mean anyone, I mean not a single person. You have to learn to let things slide. Insults, disrespect, whatever it is. After all you are the billionaire. The minute you act bigger than someone towards them, they will do something bigger than them towards you. They still might lash out, on the contrary, but it would be without reason, therefore easily handled.
4. The best business partners are ones that want nothing from you
If someone wants to do business with you to benefit from you, stay away. Go into business with someone because they like you for what you can offer to their network.
5. Systematically reward your partners
If its commission, or bonus', it should be calculated as a profit:ratio benefit.
Life Rules
1. What else is there to do
Seriously, what else is there to do, than be the king and build your empire. Everything else is just a distraction. social norms, living within the limit of your mental and social comfort.
2. If its socially conditioned, its wrong.
If more than a 50% of people around you have the same belief to being successful, then its wrong. Come to think of it, which one of them is successful?
Its cool to have a girlfriend to satisfy your needs, a companion, but at the end of the day, whats easier? Getting laid and filling your emotional needs? Or becoming a billionaire?. You do the math. Its hard for a reason.
2. Eat shit, but always give.
I can only say this here. But giving is a duty to your cause. You will naturally give if you are self made. I don't have a certain amount I give. But as I go along my day, when I come across someone I instinctively feel needs a push in life, I give, whether financially or emotionally or both.
3. Eat good, stay healthy, live comfortable
This is the biggest part to being free. Its what drives you. When you have a good diet that you also enjoy and you keep as healthy as you can, live is a good house/apt. that you like, everything is set up to fall into place elsewhere.
4. Stay clean and Tidy from outside and from within.
Keep your house and living area clean, have clean clothing, a clean kitchen, good hygiene
5. Look as good as your cash
Have good fashion sense, be well groomed, and look s as good as you can. first image opens attitudes. Have people respond to you the way you want from the first second.
6. Reward yourself when the opportunity shows itself
Whether, its a nice vacation, an exotic car, or even a girlfriend for a few weeks, or all 3 together. Always reward yourself with what you enjoy, desire and want, as long it does not harm anyone or anything.
To be continued...
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
