The Millionaire Fastlane: Chapters (33-35) Summary

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The Commandment
of Scale

In business, to be a success you only have to be right once.
~ Mark Cuban

When your business road violates the Commandment of Scale, wealth acceleration is incarcerated within constricting speed limits. Drive any road with a speed limit of 15 and you aren’t going to get anywhere fast.

Swing for Home Runs, Not Singles. be in the business of home runs.

The Fastlane Wealth Equation: Disarmed

Wealth = Net Profit + Asset Value

Net Profit = Units Sold × Unit Profit

Tiny habitats create tiny wealth.

Chapter Summary: Fastlane Distinctions
••Your total pool of customers determines your habitat. The larger the habitat, the greater the potential for wealth.
••A business can be a singles or a home-run-based business. Its strength is determined by scale, which is derived by habitat.
••The Fastlane wealth equation is disarmed when you violate the Commandment of Scale.

•• Scale is achieved in reach (units sold) and/or magnitude (unit profit).
••The Law of Effection is the primary conduit to wealth, which can be roadblocked by scale, magnitude, or source.
•• Effection consequences trickle up to owners and producers. Breaking scale or magnitude indirectly in an uncontrolled entity is not a guarantee of wealth.
•• To gain access to Effection, you have to break the barrier of scale or magnitude in an entity you control.
•• Scale, magnitude, or source deficiencies create governors on the speed of wealth creation.

The Commandment
of Time

I am long on ideas, but short on time.
I expect to live only about a hundred years.
~ Thomas Edison

Chapter Summary: Fastlane Distinctions
••A business attached to your time is a job.
••A business that earns income exclusive of your time satisfies the Commandment of Time.
•• To satisfy the Commandment of Time, start with a business that uses a money system seedling, or introduce one.

Rapid Wealth:
The Interstates

You can’t live a perfect day without doing something
for someone who will never be able to repay you.
~ John Wooden

The Three Fastlane Interstates:

1) Internet
2) Innovation
3) Intentional Iteration

Chapter Summary: Fastlane Distinctions
••The best Fastlanes satisfy all five Commandments: Control, Entry, Need, Time, and Scale.
••Assuming a need-based premise, the Internet is the fastest interstate, because it overwhelmingly satisfies all Commandments.
•• Innovation can be any variety of open roads: authoring, inventing, or services.
•• Inventing success needs coupling with distribution.
••A singles-based business is scaled to a home-run business by intentional iteration. With iteration, scale is conquered.

The Millionaire Fastlane: Chapters (29-30) Summary

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The Right Road
Routes to Wealth

He who chooses the beginning of the road
chooses the place it leads to.
It is the means that determines the end.
~ Henry Emerson Fosdick

The Road to Effection: The Five Fastlane Commandments:

1) The Commandment of Need
2) The Commandment of Entry
3) The Commandment of Control
4) The Commandment of Scale
5) The Commandment of Time

A road meeting all five commandments can make you filthy rich fast.

Chapter Summary: Fastlane Distinctions
•• Not all businesses are the right road. Few roads move at, through, or near the Law of Effection.
••The best roads and the purest Fastlanes satisfy the Five Fastlane Commandments: Need, Entry, Control, Scale, and Time.

The Commandment
of Need

What do we live for, if not to make life less difficult for each other?
~ George Eliot

Sand Foundations Crumble Houses
Ninety percent of all new businesses fail within five years, and I know why they fail. They fail because they fail the Commandment of Need.

Businesses that solve needs win. Businesses that provide value win.

To succeed as a producer, surrender your own selfishness and address the selfishness of others.

Stop Chasing Money—Chase Needs.

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.

You and your business attract money when you stop being selfish and turn your business’s focus from the needs of yourself to the needs of other people. Give first, take second. Money Chasers Chase Money, Not Needs.

💰 To Attract Money Is to Forget About Money 💰

Solve needs massively and money massively attracts. The amount of money in your life is merely a reflection to the amount of value.

Make 1 million people achieve any of the following:

1) Make them feel better.
2) Help them solve a problem.
3) Educate them.
4) Make them look better (health, nutrition, clothing, makeup).
5) Give them security (housing, safety, health).
6) Raise a positive emotion (love, happiness, laughter, self-confidence).
7) Satisfy appetites, from basic (food) to the risqué (sexual).
8) Make things easier.
9) Enhance their dreams and give hope.

. . . and I guarantee, you will be worth millions.

Beware of another guru-speak: “Do what you love and the money will follow!” Bullshit.

The motivational fuel for the Fastlane is passion, not love. Passion gets you out of the garage and onto the road. If you have a passion for a specific goal, you’ll do anything for it. 💖

Passion beats “do what you love,” because passion fuels motivation for something greater than yourself and is generalized.

I repeat: Passion for an end goal, a why, drives Fastlane action.

Passion Erases the Suffering of Work

The Fastlane isn’t a destination but a personal journey.

Chapter Summary: Fastlane Distinctions
••The Commandment of Need states that businesses that solve needs win.
Needs can be pain points, service gaps, unsolved problems, or emotional disconnects.
•• Ninety percent of all new businesses fail because they are based on selfish internal needs, not external market needs.
•• No one cares about your selfish desires for dreams or money; people only want to know what your business can do for them.
•• Money chasers haven’t broken free from selfishness, and their businesses often follow their own selfish needs.
•• People vote for your business with their money.
•• Chase money and it will elude you. However, if you ignore it and focus on what attracts money, you will draw it to yourself.
•• Help one million people and you will be a millionaire.
•• For money to follow “Do what you love,” your love must solve a need and you must be exceptional at it.
••“Do what you love” sets the stage for crowded marketplaces with depressed margins.
••When you have the financial resources, you can “do what you love” and not get paid for it, nor do you have to be good at it.
•• Slowlaners feed “do what you love” with “do what you hate.” Five days of hate for two days of love.
••“Doing what you love” for money can endanger your love.
•• Passion for an end goal, a why, drives Fastlane success.
•• Having a passionate “why” can transform work into joy. ••“Doing what you love” usually leads to the violation of the Commandment of Need.
••The right road for you is one that will converge with your dreams.