I kick-off by thanking the man who has been able to become a prove and live out all the knowledge he has Imparted to the millions of Entrepreneurs all over the world: MJ DeMarco.
You know, after I read TMF the first time, I read it a several hundred times thereafter. And I can't just put it down. It was an eye opener. I must also confess, after reading TMF , I have never ever read any other wealth book that...I kinda say: everything has already been spoken what else?
The Only books I indulge in reading are books that will help my fastlane mentality which include: marketing, Advertising, Search Engine Optimization, etc.
Now here is a big take-away which to me, literally summarizes the whole point of the TMF:
Wealth is based on Leverage and Mathematics.....Fastlane is the process of Achieving wealth including the failures, trials, breakthrough and literally everything you passed through to achieve wealth.
Saw those three highlighted words? That's the essence of the whole book to me. To change your mentality that wealth is not selling your time off for a weekend with the hope that during retirement, you'll make it big.
Now let's divulge into these 3 powerful words wherein lies the secret to wealth.
Leverage: This is all about scale and control. Having the potential to affect the lives of thousands if not millions or a few in magnitude.
Now, a needless business will have limited scale. Some businesses implicitly lacks scale and some can be moulded to become scalable. You see how it connects with CENTS.
Once you are accessible to thousands of people in your niche or market and your business is needful and indeed providing value, then according to the law of wealth, you can be wealthy.
Mathematics: Now here's the rule that can tilt the probability of wealth to your direction.
Wealth=Net Profit x Asset Value
Now I'm not really good at discerning or understanding much of asset value and how it really works (hopes MJ helps me out).
But yet, I understand another powerful variable in that wealth equation: Net Profit.
According to TMF,
Net Profit=Unit Sold (in scale or magnitude) x Unit Profit (your profit per sale)
Now let's assume you own an ecommerce store or a website. With the help of your marketing skills which may include SEO or copywriting (see where fastlane education comes in), you are able to drive in a modest 1000 visitors (not the maximum potential) to it daily.
Your Unit profit per sale or conversion is $5 and your conversion rate is about 5%.
Now let's do the math.
Net Profit=$5 * 50 people =$250 per day.
$250 per day is $7500 per month.
Assuming you have 10,000 daily visitors, what about 20,000 or 30,000 visitors. You have a grey potential. All you need is a good education that will help you reach out to more people thereby scaling your business.
Yea, even AdSense publishers do make it big although they implicitly lack control over their income source. All hinges on the numbers which further triggers the fact that wealth is all about simple mathematics.
Now, to achieve all of these is not an event. Driving such mount of visitors to your store or website is not going to be all fun. Even convincing your visitors to buy is not going to be fun all through.
That's why the fastlane is Process.
One step at a time until you get there, from setting up your website, to advertising,to driving traffic, to making your first sale, its all process.
Mj has a word to say about that here.
How to Accomplish Anything “Big” In Life Without Getting Swallowed. – Fastlane Entrepreneurs
That's what I wanted you guys to understand about the entire fastlane philosophy and my courtesy goes to MJ DeMarco for writing my favourite and my one and only book and for creating this forum to help entrepreneurs achieve their dreams faster.
Thanks to the readers who have chosen to read my little opinion on what the fastlane philosophy means to me.
You know, after I read TMF the first time, I read it a several hundred times thereafter. And I can't just put it down. It was an eye opener. I must also confess, after reading TMF , I have never ever read any other wealth book that...I kinda say: everything has already been spoken what else?
The Only books I indulge in reading are books that will help my fastlane mentality which include: marketing, Advertising, Search Engine Optimization, etc.
Now here is a big take-away which to me, literally summarizes the whole point of the TMF:
Wealth is based on Leverage and Mathematics.....Fastlane is the process of Achieving wealth including the failures, trials, breakthrough and literally everything you passed through to achieve wealth.
Saw those three highlighted words? That's the essence of the whole book to me. To change your mentality that wealth is not selling your time off for a weekend with the hope that during retirement, you'll make it big.
Now let's divulge into these 3 powerful words wherein lies the secret to wealth.
Leverage: This is all about scale and control. Having the potential to affect the lives of thousands if not millions or a few in magnitude.
Now, a needless business will have limited scale. Some businesses implicitly lacks scale and some can be moulded to become scalable. You see how it connects with CENTS.
Once you are accessible to thousands of people in your niche or market and your business is needful and indeed providing value, then according to the law of wealth, you can be wealthy.
Mathematics: Now here's the rule that can tilt the probability of wealth to your direction.
Wealth=Net Profit x Asset Value
Now I'm not really good at discerning or understanding much of asset value and how it really works (hopes MJ helps me out).
But yet, I understand another powerful variable in that wealth equation: Net Profit.
According to TMF,
Net Profit=Unit Sold (in scale or magnitude) x Unit Profit (your profit per sale)
Now let's assume you own an ecommerce store or a website. With the help of your marketing skills which may include SEO or copywriting (see where fastlane education comes in), you are able to drive in a modest 1000 visitors (not the maximum potential) to it daily.
Your Unit profit per sale or conversion is $5 and your conversion rate is about 5%.
Now let's do the math.
Net Profit=$5 * 50 people =$250 per day.
$250 per day is $7500 per month.
Assuming you have 10,000 daily visitors, what about 20,000 or 30,000 visitors. You have a grey potential. All you need is a good education that will help you reach out to more people thereby scaling your business.
Yea, even AdSense publishers do make it big although they implicitly lack control over their income source. All hinges on the numbers which further triggers the fact that wealth is all about simple mathematics.
Now, to achieve all of these is not an event. Driving such mount of visitors to your store or website is not going to be all fun. Even convincing your visitors to buy is not going to be fun all through.
That's why the fastlane is Process.
One step at a time until you get there, from setting up your website, to advertising,to driving traffic, to making your first sale, its all process.
Mj has a word to say about that here.
How to Accomplish Anything “Big” In Life Without Getting Swallowed. – Fastlane Entrepreneurs
That's what I wanted you guys to understand about the entire fastlane philosophy and my courtesy goes to MJ DeMarco for writing my favourite and my one and only book and for creating this forum to help entrepreneurs achieve their dreams faster.
Thanks to the readers who have chosen to read my little opinion on what the fastlane philosophy means to me.
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