10 Lessons From The Book The Millionaire Fastlane by MJ DeMarco, one of the best sellers of our time
The Millionaire Fastlane is a great book for anyone looking to make more money. In it, MJ DeMarco outlines 10 lessons that can help anyone increase their income. Some of these lessons include setting goals, taking risks, and always learning and growing. By following these lessons, anyone can improve their financial situation. Here ''Bassey'' Worldforumlive has outlined them below
1. You are the Driver
If you want to become rich fast, then you will have to be the driver, starting by you taking control, by the driver here, learn how to drive your way to create wealth, earning consistent
- Your money should be built to keep working for you
- Your mindset, learn to control your mindset
- Your financial future, have plans to beat this
Be the driver of your future and please don’t allow others to drive your future, you determine your success - or failure by what you do and keep doing at the moment, so take note of where you are driving your future to, To a realm of wealth or poverty.
2. The Fast Lane:
You don't need to work slowly when the lane is clear, learn to invest right. Invent in becoming a millionaire doesn’t always have to be a slow process. You can be a millionaire within a week, a month, or a year, it must not be a long walk. You can become rich if you:
- Invent right and reinvest more
- Bring value to society
- Offer answers to questions people ask daily
Become the solution to someone else’s problem. That’s when you’ll make money, these can easily be done in a short time, not forever walk
3. You Need Speed to Win
In your quest for wealth, learn to go speed, cos you need speed to win. Becoming a millionaire - fast - depends on several factors: like
- Your effort
- Your mindset
- Your consistency
- Your determination
Don’t focus on the result, focus on the systems that will bring you to the result, don't hope for the results, work on what you will get in the shortest time while working on a long-tail project
4. Money is the Illusion
Don't walk to look rich without taking care of your health, your freedom, and your relationship cos looking rich is the illusion of true wealth. True wealth is:
- Good Health
- Freedom
- Good and healthy Relationships
Having good health, freedom, and relationship is the greatest wealth money doesn’t buy you happiness. Money buys you time, which gives you freedom. Don't forget, Money is an Illusion In our society, money is seen as the root of all happiness. People believe that if they have more money, they will be happier.
But what people don't realize is that money is just an illusion. It's something that we made up to make life easier. Sure, it makes life more convenient, but it doesn't buy happiness. Happiness comes from within. It comes from our relationships, our health, our freedom, and our experiences.
5. The Formula for Wealth
Salary does not build wealth fast, that doesn't mean earning a salary is bad just that it doesn't build wealth faster
Wealth = net income + asset value
You build a high net income when you:
- Sell products
- Build a business
- Increase your product prices
Your ticket to the fast lane is when you solve a problem for your customer and have them keep coming back for you over and over
6. Your Habits Make you Poor
Your habits may be the reason why you’re poor. This behavior leads to poverty, while the greatest injustice may not be the government or the elite. It might be your with self injustice when you make poor habits and refuse to invest in yourself by investing in learning. Poor habits are more of personal denial and
- Refusing to learn
- Seeking to impress
- Living paycheck to paycheck
If you want to jump on the millionaire fast lane, you first need a solid plan, learn to invest in yourself by most important invest in learning
7. Your Job is a Prison
You sacrifice 5 days (Mon-Fri) for 2 days of freedom (Sat-Sun). Why your job won’t make you rich fast:
- Salaries grow over time
- It takes time to gain experience
- You have no control over your salary
Time is the ultimate currency. Spend it wisely, invest it wisely, and learn to leverage other people's time by hiring professionals to do work for you and get paid
8. The Illusion of Compound Interest
If you just rely on compound interest, you won’t get rich fast. How to get rich fast:
- Become a boss, by investing in real properties, things that bring money to you
- Build a business
- Invent something, no matter how little, just get started
Compound interest is based on time. The wealth that is just based on time will be limited.
9. The Money Tree
The salary of your 9 to 5 is the slow lane to wealth. The 5 Money Trees to Wealth:
- Rental system
- Software system
- Network Marketing
- Information system
- Human resource systems
Building and monetizing systems are the way to wealth, you can start with any of the above 5 money trees to wealth and lastly on our 10 lessons from the book The Millionaire Fastlane
ALSO READ: 10 Lessons from the Book Awaken The Giant Within You by Antony Robbins and read how to Invest in yourself read the book The Laws Of Human Nature
10. The Law of Wealth
Building millions (in wealth) means you have to service millions (of people). The 2 Parameters to Optimize income may start with one customer but having the ability to grow from 1 customer to 100, 1000 and millions is the law of true wealth: This goes by
1. Amplitude (how much is sold)
2. Magnitude (the price it is sold for)
You earn money when you add value to your customers and we these customer sees the value, they will always like to come back to buy more and best will refer your product and services to others, so build a good product and services before hitting the market
Last edited: