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32 Lessons from The Millionaire Fastlane by MJ Demarco

The Millionaire Fastlane by MJ Demarco is 1 of the most underrated business books of all time. Every startup founder must read it. Incredible ideas around: - Business - Success - Money - Pricing - Wealth creation 33 Quotes that will change your mindset forever

The Millionaire Fastlane by @MJDeMarco is 1 of the most underrated business books of all time. Every startup founder must read it. Incredible ideas around: - Business - Success - Money - Pricing - Wealth creation
32 Quotes that will change your mindset forever 👇

1.

"3 fundamental F’s:
Family (relationships), Fitness (health), and Freedom (choice).
Within this trinity you will find true wealth. And, yes, Happiness"

2.

"Reshape life’s focus on producing, not consuming."
"Become a producer first and a consumer second. This means:
Instead of buying products, sell products.
Instead of digging for gold, sell shovels.
Instead of taking a class, offer a class.
 
Instead of borrowing money, lend it.
 
Instead of taking a job, hire for jobs.
 
Instead of taking a mortgage, hold a mortgage.
 
Break free from consumption, switch sides, and reorient to the world as producer"

3.

"To switch teams and become a producer:
You need to be an entrepreneur and an innovator.
You need to be a visionary and a creator.
You need to give birth to a business and offer the world value."

4.

"The Sidewalk is money blind.
It doesn’t care how much money you make.
You can’t medicate poor money management with more money"
Sidewalk = Living paycheck to paycheck + getting paid for time.

5.

"Whether you’re paid hourly or annually—it doesn’t matter—you can’t leverage time!”

6.

"Life does not begin on Friday night and end Monday morning."
Related:
"Kids and relationships don’t wait for the weekend to grow"

7.

"Society has led you to believe that wealth can be bought at a mall, at a car dealership, or on an infomercial.
Wealth isn’t embodied in a car but in the freedom to know that you can buy it."

8.

"Wealth is the ability to fully experience life."
Related:
"Wealth is built with time as an asset, not as a liability!"

9.

"Wealth eludes most people because they are preoccupied with events while disregarding process.
Without process, there is no event"
Related:
"Process creates events that others see as luck.
Like wealth, luck is not an event but the residue of process."

10.

"Wealth is freedom and choice: freedom to live how you want to live, what, when, and where.
Freedom from bosses, morning alarms, and the pressures of money."

11.

"The goal of the Fastlane is a disconnection of your time from income, even if that income isn’t millions”

12.

"Money trees are business systems that survive on their own.
They require periodic support and nurturing but survive on their own.
Creating a surrogate for your time-for-money trade"

13.

5 types of money trees/ business systems :
1) Rental Systems 2) Software Systems 3) Content Systems 4) Distribution Systems 5) Human Resource Systems

14.

"When inventing any product, the invention is always half the battle.
Distribution is the other."

15.

"if you’re defined by your past, it will be impossible for you to become who you need to be in the future."
Related:
"The universe doesn’t care about your past."
"Think about a coin flip.
No matter how many times it’s flipped, the next flip is always random"

16.

"Value your time poorly and you will be poor"
Related:
"The reality is that time is deathly scarce, while money is richly abundant."

17.

"Failure is simply a natural response to success.
If you avoid failure you will also avoid success."
Related:
"Fear of failure is normal, yet failure creates experience and experience breeds wisdom."

18.

"Today is the starting line for the rest of your life.
Yes, today is the tomorrow you worried about yesterday"

19.

"There is never a perfect time.
"Someday" is today.
Today is now.
A week is 7 todays strung together while a year is 365.
Today is all you’ve got!
And if you wait, opportunity passes."

20.

Stop thinking about business in terms of your selfish desires, whether it’s money, dreams or “do what you love.”
Instead, chase needs, problems, pain points, service deficiencies, and emotions.
Solve needs massively and money massively attracts."

21.

"People care about what your business can do for them.
How will it help them?
What’s in it for them?
Will it solve their problem?
Make their life easier?
Provide them with shelter?
Save them money?
Educate them?
Make them feel something?"

22.

"Successful entrepreneurs take existing concepts and improve them.
They take poorly met needs and solve them better.
Skip the big idea and go for the big execution"
Related:
"Ideas are nothing but neurological flatulence."

23.

"Execution is taking the neurological fart that is an idea and making it smell like a rose. “

24.

"Execution Is King. Ideas Are Pawns"
"The King: Your execution
The Queen: Your marketing
The Bishop: Your customer service
The Knight: Your product
The Rook: Your people
The Pawn: Your ideas."

25.

"I don’t know the key to success, but the key to failure is trying to please everybody.”

26.

"Businesses survive.
Brands thrive.
A brand is the best defense to commoditization."

27.

"Most consumer buying decisions are driven by emotions."
Related:
"I buy to feel something—pride, achievement, uniqueness, adrenaline, and fame"

28.

"The first human behavior you can count on is selfishness.
People want what they want.
People don’t care about you, your business, your product or your dreams.
They want to help themselves and their family.
It’s human nature"

29.

"Price is like a paint job for your product or service"
Related:
"Price Conveys More than Just Cost"
"Price is a brand-builder because price implies value"

30.

"To make millions, you must impact millions.”

31.

"The acquisition and application of knowledge will make you rich.”

32.

"Books possess the greatest return for your educational dollar.
Buy them or borrow them.
Just read them."

Conclusion

Thank you for reading 🙏
Hope you found some interesting quotes and lessons from The Millionaire Fastlane.
Are you on your entrepreneurial journey as well?
Join my journey, sign up for my no nonsense newsletter - The Indie Creator:
Also, I posted these quotes on Twitter as well and got plenty of love from everyone there.
Do share your thoughts there:
 
Cheers,