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Book Review

6 Entrepreneurial Lessons From Millionaire Fastlane By Demarco

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M.J Demarco’s, Millionaire Fastlane provides you with the best methods for becoming wealthy within a short period. Demarco believes being employed for the rest of your life is the slowest roadmap to making millions because he trusts that millions are quickly built through inventions and owning businesses.

He believes you can be a millionaire while still young and he shows you how to do so. His teachings are reliable since he uses mathematical formulas to support them. You have to read the book if you are an aspiring millionaire.

Here are six primary lessons from the book

  1. The Traditional Way of Getting Rich is a Slow Method

Since we were young we were advised to get rich the traditional way. Teachers and parents told us to get good grades, then get a job and minimize our expenses. M.J Demarco agrees that you can get rich using this method, but the sad thing is that you’ll be rich at age 70. As he points it out in the book, ‘Yes Sir, get a job, work 50 years, live frugally, invest in the stock market, your day of freedom will arrive at age 70.’

  1. Be Ready to Take Shitty Jobs If You Want To Concentrate on Building Businesses

When M.J Demarco decided to be an entrepreneur, he had to work in low-paying jobs for him to earn a living because most of his businesses failed. Besides Demarco, many people who become rich through entrepreneurship often have a rough start because, in the early stages of the journey, most of their businesses fail, and for this reason, they always have to take high school drop-out jobs for them to pay their bills. The good thing about these jobs is that they give you enough time to work on your business/project.

  1. Wealth is A Process Not An Event

When we see sportsmen or web developers making million dollar deals, we often focus on the event and forget the process. We think they are lucky because we don’t take time to study what they did to reach their current position. We don’t realize that these folks couldn’t have gotten the million-dollar deals if it is was not for the years of hard work, sleepless nights, failure, anxiety, and stress.

  1. The Three Road Maps to Wealth

The Sidewalk Roadmap – Sidewalkers often spend whatever they have on the trendiest gadget and improving their social image. For this reason, they never attain true wealth.

The Slowlane Roadmap – Slowlaners are employees who work for 50 hours a week and expect to gain financial freedom at retirement.

The Fastlane Roadmap – Fastlaners are businessmen and innovators. They often have a slow start but end up being wealthy within a few years.

  1. Wealth Demands Accountability

Never allow other people to invest money on your behalf if you want to be wealthy because people will con you, and you won’t receive the financial returns you expected. You must always take responsibility and invest the money yourself.

With this in mind, never let your close friend or relative manage your business because they won’t do it the way you could have done it. Businesses that succeed are often managed by their owners/founders.

  1. Impact Millions And Make Millions

Most millionaires are folks who impact millions of people. These people create things that many people need. For example, musicians make millions because millions of people need music. Also, some authors become millionaires because many people love reading. Therefore, if you want to be a millionaire, you must create something that’s needed by lots of people.

THE END

Were Demarco’s lessons helpful?

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