Updated: Nov 17, 2020
The Best Book for Entrepreneurs
The fastlane forums, along with the book, the millionaire fastlane by Mj Demarco, is a one stop shop for all entrepreneurial needs.
I’ve wrote about the fastlane book before, in my recommended reads, but I feel this book is worth an in depth review.
The Millionaire Fastlane Book Summary
The millionaire fastlane has way, way to many talking points, so I’m just going to touch up on a few that spoke to me the most. I really recommend you read the full book after reading my summary though.
There are many important focuses in his book, so I’ve decided to just go over the most important. After reading these, you should have a good grasp on what the book is about.
The Three Paths
In the millionaire fastlane, Mj talks about the three paths you can take on your road to wealth. He talks about the sidewalk, the slowlane, and of course, the fastlane.
Small Money and Lotto Tickets
The sidewalk is a path that people in poverty take. It’s a contract for the pleasurable today in lieu of security tomorrow. Sidewalkers use credit instead of cash, at all times.
They have almost no savings, and are always one or two paychecks away from broke.
In his book, Mj explains that you can never be successful if you live like this. He also mentions that sidewalkers see money as an event, when it’s really a process. The only hope they see for starting a net worth is living the lottery.
That’s not to say you’re doomed if you live a sidewalkers life right now. If the above sounds like you, you can head on over to the fastlane forums, at this link, and start getting your life in order.
This is the life many middle class people live. A life of trading in weekdays for weekends. Any smart 4th grader would know that a 5 for 2 trade isn’t good. Five days of work for two days of freedom.
Slowlaners often have to wait until they are around 60 to start reaping the rewards of their labor, and by that time it’s often too late. They invest in the stock market, and never have a real opportunity to “explode their wealth.”
Sure, if you work a job, save every penny, and invest in “guaranteed” stocks for 45 years, maybe you will be worth 2 million dollars. Although, how many 65 year olds do you know worth 2 million and/ or live extravagantly?
Yeah, that’s what I thought.
Fastlane Bought Lambo
This is the main focus of his book, and the recommended economic path, is the millionaire fastlane. The fastlane’s main idea is entrepreneurship. Mj talks about how the odds that you will be able to start your own business are greater than you could ever imagine.
Everyone talks about how difficult starting a business can be, but nobody mentions all the risk that comes from the slowlane. If the stock market crashes, or your company has to downsize, or if your house burns down, or… well, you get the point. If any of this happens, your even worse off then if you failed at starting a business.
At least when you fail a business, you can try again, and use experience from last time and start again right away. If you lose your job, you may be out of luck for while.
The Fastlane Makes Cents.
Five Cents of The Fastlane
The fastlane has 5 Commandments, which are labeled as Cents.
C stands for Control. If you don’t own your entire business, you aren’t really in control. If your site could be demonetized and you lose all of your income, you aren’t really in control. This is the hardest commandment in my opinion, as there are so many variables that are tough to control.
E stands for Entry. If the entry barriers for your business are low for your field, than competition will be high. Basically, if anybody can join, then everyone will join. A prime example of this is MLM’s, the commandment of entry is the reason that only people at the top actually make money.
N stands for Need. Need is one of the most important commandments. If nobody needs your product, than nobody will want to buy it. For instance, people need entertainment to fill the boring parts of their day, that’s why I got into game development. I saw a lack of good tutorials and explanations on how to use Unity, so I decided to fill that need while making my games.
T stands for time. If your money is connected to your time, you will never be in the fastlane. This means if you work for a salary or hourly, you won’t be able to explode your wealth. The goal of the commandment of time is to make a passive income. For instance, I’m probably making a cent or two while you’re reading this, no matter what I’m doing at the time.
S stands for scale. In order to explode your wealth, you need to be able to scale your idea. For instance, my app can be downloaded an infinite number of times. Scale is incredibly important, as it doesn’t matter how much money one branch makes, it will always be limited by the fact it’s just one branch.
The Fastlane Forums
Screenshot from The Fastlane Forums
Advice From Real Entrepreneurs
One of the most important things about any entrepreneur site is the inclusion of actual entrepreneurs. This may sound obvious, but it’s something that a lot of other entrepreneurial websites lack.
With many other sites like this, people just end up peddling their MLM scheme, or trying to push their spammy websites. In the fastlane forum, posts like these get deleted as soon as they are spotted.
Another great thing about the forums is everybody’s willingness to pass on what they have learned. If you look at the top posts, you will instantly find incredible information on everything from website to building to reality.
The Fastlane Forums Success’
Success Stories From The Forums
The one thing that every success story on the forums has (besides education value), is gratitude for the site. This is no coincidence, as most success’ that are posted on the site, came from the site.
By this I mean if you read almost any of the stories of entrepreneurs becoming independent, they all have on thing in common. They found some great advice from the site, and went into action.
One of the best things about other peoples success stories, is the inspiration it can give YOU! Go ahead and read a few success stories after you’re finished reading my article, I can all but guarantee that you will be inspired to go start your own company.
Fastlane Forums + Book Review: Final Thoughts
I would highly recommend that you check out both of Mj Demarco’s books, the Millionaire Fastlane, and Unscripted. These go great with his site, the Fastlane Forums.
If you enjoyed reading about inspirational and useful business/ personal development books, then check out my bookshelf for more awesome reviews.
If this books message really stuck with you, and you want to become an entrepreneur through game development, I have a ton of great resources on Unity for you. You can also feel free to check out my game development starter course.
Thank you for reading, and click here to stay up to date on my articles.