You’re here for The Millionaire Fastlane Book Review. But let me ask YOU a question.
Do you really want to live a boring and tiring 40 hour work week life for the rest of your days?
Or do you want to become a millionaire and live lavishly? Moreover, think of sleeping in everyday and playing video games all day.
Hate getting yelled at by your boss? This is the only legitimate millionaire book I have ever read. It doesn’t offer any “get rich scheme”, it tells you directly how to become a millionaire overnight. Here is The Millionaire Fastlane Book Review. We will be covering some main topics of the book, why you need to buy it, and how useful it is.
About The Author – The Millionaire Fastlane Book Review
To start The Millionaire Fastlane book review, I must introduce the author. He is an incredibly talented and gifted person with an incredibly interesting story.
MJ Demarco, author of the Millionaire Fastlane was never rich or brought up in a rich family. Nobody helped him, he failed multiple times, nothing was luck.
But somehow, MJ Demarco never gave up after almost a decade of being poor. And even then, he never got “lucky”. Infact, he made every single decision tactically and has the entire recipe for getting rich in his book.
Okay, Why Should I Believe The Millionaire Fastlane Book Review? Or even the book?
Honestly, when my friend at CharlesDev.com told me about this book, I was skeptical too.
I thought this was one of those books that tells you to max out your IRA, save money, don’t eat out, etc. But, this book is the opposite.
This book isn’t any “get rich quick scheme”, but more of an entire mindset overall to understanding economics.
How Is This Book Any Different Than The Thousands of Others? Tell me why I need The Millionaire Fastlane Book Review
I know what you’re saying, and it is the same thing I said! “How Is This Book Any Different?”.
Fact is, there are millions of get rich books. This book is different because it doesn’t tell you to do anything specific to get rich, it tells you a new mindset to follow.
The Millionaire Fastlane Review was made because of the book’s mindset change.
Never in Mr.DeMarco’s book does he tell me to make a blog to get rich. However, he tells me how I must be a producer, and NOT a consumer.
MJ DeMarco doesn’t tell you a “secret”, and nobody gets rich overnight.
The Producerism Mindset Change – The Millionaire Fastlane Review
To start off this article, I must say there is simply no replacement to not reading this book. I even watched summaries of it online, and had my friend tell me about it. However, until you read everything MJ DeMarco throws in his book, you cannot understand it fully.
Producerism vs Consumerism
MJ DeMarco praises a key idea of getting rich. That is, becoming a producer.
You see, that is where this book is different. This book is telling you what steps you will need to take to become a millionaire. It does not tell you a get rich scheme, but lets you figure it out.
The truth is, to utilize DeMarco’s book, you have to take matters into your own hands. You have to use the formula he’s given you, and put your hardest work into it.
What is Consumerism?
Consumerism is the idea that you are consuming content provided by others. That means, paying for netflix! Watching TV, watching YouTube, even reading this blog is consumerism.
The idea is, that you are paying for it. You are paying someone else who makes the content.
So, what is Producerism?
Producerism is creating that content others buy!
MJ DeMarco tells us we need to become the producers to be millionaires.
Think about it: the products we use everyday in our everyday lives were made by someone, and they are rich for it!
How Can I Use Producerism To Become Rich?
This key concept is crucial to understanding the millionaire fastlane book review.
Remember, when you are spending your money to buy things you are a consumer.
When you are selling things for money, you are a producer.
So, if you make items other people want, you make money. If you are able to scale this to mass numbers, you will be swimming in cash.
If you work 8 hours a day and earn $30 an hour (a big wage for today) you make $240 a day roughly. However, if you sell 3 books an hour for $5 profit, you make $15 an hour, every hour. That’s $360 a day you’re making even in your sleep. And if you want more money, you just spend more time marketing.
The Problem With Retiring at 60
Remember your teen years? Maybe you’re still a teenager.
Let me tell you a little secret, the older you get, the more joint pain you get and harder it is to move around and have fun.
Why do people want to retire at 60 so bad? It seems it would suck. You finally get all the money you want to party, drive fast cars, go scuba diving, but you can’t do it! You’re too old and frail to enjoy any of it.
Imagine finally having enough money to comfortably sit down, in constant pain and agony from joint pain, and not being able to do things like contact sports or anything active due to your age.
Also, there is NO guarantee that you live to 60. If you’ve read my “About Me” page, you might know I have a HUGE interest in medicine. I’ve seen life get taken instantly from people, and most of the time it isn’t their fault. It takes one idiot to drink alcohol and drive, and all that money you saved up for retirement is USELESS.
There’s Only 24 Hours in A Day, Your Job CAN’T Make You Rich! – Rule #1 of The Millionaire Fastlane Review
There’s only 24 hours in a day. Your job CAN’T and WON’T make you rich.
So how does this relate to The Millionaire Fastlane Book Review? This is actually a key point MJ DeMarco illustrates in his book. This point changed my view on everything.
I am a workaholic, and I usually find myself working 12-15 hour shifts 6x a week. But, it doesn’t make me rich. I can only work a max amount of hours per week!
You can make $30 an hour, and get paid $60 an hour overtime, but there are only 24 hours in a day. You can’t work above that. 168 hours a week, 672 a month.
Even if you ignore sleeping 8 hours a day and having free time 5-8 hours a day, you have a max limit you can earn.
No matter what you can not violate the laws of physics and earn above 24 hours worth of pay in a shift. You can’t work 70 hours a day. This limit prevents your job from making you rich.
However, let us also consider these factors:
- Fatigue and Sleep: You might work 20 hours in a day, but your body will shut down and sleep eventually. Not to mention your performance will shutdown.
- Your boss may lay you off randomly: Your job can be terminated usually at any time. This isn’t job security, and can put you starving and homeless!
- Your hours may get cut. If your work needs to reduce labor, you can lose hundreds a week from that. Can you account for that?
The Three Money Making Paths
DeMarco emphasizes this analogy of different moneh earners to driving on the road. These different speeds often represent how people are currently making money in their life.
The Depressing, Dreading, and Common Sidewalk
The sidewalk is unfortunately what most people fall under. I used to be like this, and maybe even you’re like this.
The Sidewalk is depressing, dreading, and common. It is the exchange of pleasure today, sacrificing security tomorrow.
Sidewalkers are found using all of their money right away, and have no financial security. Losing their job could instantly mean losing it all.
A big problem with the sidewalk is that these people see money as an “event”. They think getting a big bonus at work is an event and they need to spend it on something big like a new car instantly.
You can also guarantee they are essentially indebted to credit card companies and have tens of thousands being paid off at any time.
This is comparable to taking the sidewalk instead of the highway. It’s going to take FOREVER to go across the country on a sidewalk, you’d be way better off just hopping on the highway in a car.
The Diminishing Slowlane
The Diminishing Slowlane is what you can think the middle-lower class of america is.
The slowlane is those that are working a 5 day, 40 hour work week, for 2 free days a week.
Remember in school how excited you were for the weekend? And how mad you were for Monday to come. The people in the slowlane give up 5 days a week for 2 free days, and don’t have lots of money to throw around.
The slowlaners invest ALL of their money into 401ks, penny stocks, and only really reap the rewards at retirement, at a lame age 60.
This is comparable to the slowlane of the highway. Sure, you’re following the speed limit and you’ll eventually get there, but if you move over a lane you’ll be going much faster. You might save a lot of time on your way to your destination by taking the fastlane!
The Rich and Dreamed of Fastlane
The Rich and Dreamed of Fastlane is all you’d ever want. You get tons of money, retire early, and do whatever you want!
This is almost the core concept of The Millionaire Fastlane Book Review. You see, the fastlane is the entrepreneurship and determined mindset.
I know what you’re thinking, but Tommy, I could NEVER start my own business, I would lose so much!
But, think of what you actually may lose if you start a business, versus what you may lose in your slowlane or sidewalk.
If you start your own business, you can slowly invest money and either make millions or lose a small couple thousand dollars. Let’s say on the contrary, the stock market crashes, all of those stocks you were investing in lose thousands of dollars. Even then, you would’ve barely made thousands in profit if the stock market didn’t crash.
Finally, you can always start a new business. Use that experience from the old one to build even bigger!
Also, starting a business doesn’t have to be a $40,000 investment. For instance, many blogs are started out for free on blogger.com or wordpress.com. Then they use the money they generate from the business to grow further.
This is comparable to the fastlane. You will definitely get to your destination faster, and the chances you get a speeding ticket are higher too. However, in general you will always make more progress than anyone in the slow lane.
What Do All Of These Lanes Mean For The Millionaire Fastlane Book Review?
You have the option to take any of these lanes. Do you want to make your money fast or slow? Enjoy those nights of partying and having fun in your 20s, or do you want to do it in your 60s?
The risk of starting your own business isn’t bad. And even then, you can have a small business providing residual income of $1,000 a month that can easily make you go part time at your current job and enjoy life way more.
To be fair, it’s kind of hard to have as much fun street racing or water skiing at 60. Your joints get old, your heart gets old, and you get old. Everybody talks about how important your teen years are, so why waste them being in the slowlane at a 40 hour a week job?
Again, YOU have the choice. YOU have to make the decision to put on your turn signal, and move into the fast lane!
Commandments of The Fastlane – YOU HAVE TO FOLLOW THESE!
Good, you’ve made the choice to merge on the fastlane. Welcome to life, liberty, and the pursuit of entrepreneurship.
However, to make sure your journey is correct, you NEED to follow the commandments of the fastlane. These commandments are also known as, “CENTS”.
C – Control
This is a big one. This is where many people excited to merge into the fastlane fail.
Many people think they can just buy a couple businesses under someone like McDonald’s or Amazon, and be fine.
Then McDonald’s or Amazon changes some policies or removes owner-operators, then their entire business is gone.
They were NEVER in control of their business from the beginning! Take a look at YouTube for example.
While YouTube is a great way to earn revenue, at any moment Google can terminate your channel without notice. Then, you have to tell your family why there’s no food on the table.
Don’t work under someone, make sure your business can be completely operated by you!
E – Entry
The entry commandment is essentially saying, how easy is it for someone else to enter your field and out compete you?
Can some average joe just come in and take your businesses spot in the market overnight?
Let me simplify this with an analogy. A physician has high job security because it takes a long time to complete medical school and residency, and not everybody can do everything in that field.
Meanwhile, someone at McDonald’s can be replaced by any 15 year old with half a brain.
Think of that, can someone else just replicate your idea and make it better overnight and ruin your money and success?
When creating this business, keep in mind how hard it would be for someone else to overtake you.
And then use that to your advantage to determine how to counter their move, or if this area is even worth investing in.
N – Need
The need commandment is the easiest to understand. How much do people need this product?
You can make a super cool new sponge that cleans surfaces better than other sponges, but, do people need that? Their averages sponges do just fine.
Take a look at a hospital- people NEED doctors. Otherwise, who is going to help those who get sick or ill?
A better example is Amazon. People wanted to easily buy things online, and amazon fulfilled that need, and now they are one of the richest companies ever.
Think, do people need your product? And be critical about it.
Think of The Millionaire Fastlane Book Review you’re reading.
You’re probably stuck in a dead-end job and you’re looking to see if you need this book or not. I know people need this.
Think of the book even, MJ DeMarco knows you have a need to want a better and more enjoyable life!
T – Time
Time is one of the most confusing commandments. The idea of Time is, are you able to earn money without working on it 24/7?
To make this point more clear, lets use an analogy. Assume you own a graphic design company, you only make money per sale of design.
This means you have to work 6-8 hours a day to earn any money.
This commandment is important for two reasons.
- #1 – If your company does not generate money while you are away, what’s the point? You are still stuck to an hourly job, even if it pays more.
- #2 – You can essentially never retire this way. You will be stuck until your 70s working on it. Think of this: maybe you can hire someone to do the design for you once the company starts rolling? This helps eliminate that commandment. Amazon works as a great example for this because even when Jeff Bezos is asleep he’s generating tons of money.
Remember, if it can’t make money while you’re asleep. You are violating the aforementioned “24 hours in a day rule”.
There are only 24 hours in a day, and if you have to work hourly to make money from your business, find a different and better idea.
S – Scale
Scale is probably the biggest commandment where many people mess up on.
Scale is the idea of how many people you can reach. For instance, this blog can be seen by all 8 billion people in the world.
However, if you open a small restaurant in a town, you are more or less limited to that town’s citizens.
Scale is something very important to The Millionaire Fastlane Book Review. This is because MJ DeMarco mentions in his book how important and easily accessible scale actually is.
The interner is a great way to match the scalibilty commandment. Anyone in the world can acesss your e-book, video, online course, service you provide, etc.
Think back to not having a large scale. If the town has 34,000 people as a population, that is essentially your max sale limit.
However, if you are able to spread that restaurant worldwide, then you can enter the fastlane.
Remember, if you open a small bakery, it’s very rare anyone will fly 10,000 miles from their country in Europe to buy a pastry. Make it worldwide and you will succeed.
Vigilant’s The Millionaire Fastlane Book Review – Take Action Cheat Sheet
Now that you’re excited and pumped to read The Millionaire Fastlane after reading the millionaire fastlane book review I have a cheat sheet for you.
This cheat sheet and following information will help you utilize the book to its max, and take action instantly!
The Hourly Job
First, you need a job. I know I just advocated against getting an hourly job in this post but, you’ll probably need more money to help you in this process.
While you don’t necessarily need thousands to get your business rolling, having a couple hundred bucks to play around with can go a long way. Additionally, it can also help you get things like employees or graphics.
Try to find a job where you can be left alone primarily. I will go more in-depth on why in the next subheading, but your goal here is to basically be able to use this time on the clock to better yourself and study more.
A perfect job for this is fast food or an area with a kitchen. Dishwashing is the best place you can sign up for here.
Personally, I worked at a McDonald’s and was able to wash dishes 4-5 hours a day, then work in the grill for 3. This allowed ample time for studying.
Second of all, you’re going to need the audiobook. Remember how I mentioned you’ll need 4-5 hours to yourself earlier?
Get a pair of earbuds and purchase the audiobook here. Then start listening to the book and understanding every concept.
Once you’ve completed the book, find another podcast about your business and listen to that. Always be following these episodes and finding new podcasts and learn how to better your business.
For me, I listen to “The Blog Millionaire” by Brandon Gaille. It has absolutely transformed my website. Some of my old posts would have little words and were a painstake to read.
Brandon Gaille explained how I can make my website fun to read and enjoyable for the reader. Also, he taught me how to create masterpieces of work.
Find a podcast that fits your business area, and learn from the professionals.
Now the final step.
You can’t go in without a plan! I suggest using Trello Boards from here. Trello is a service that is almost like a massive collaborative to-do list. You can highlight different notes, make different categories. All for free!
I use it everyday and its online and easy to use even on your phone.
Make a game plan, set goals that are achievable and realistic. Don’t say “Make $100,000 by the end of next month”, say “Make my first sale by the end of this month”. Remind yourself of these goals constantly and reassess your progress towards them!
I hope the millionaire fastlane book review helped you out. Now get out there and enter the fastlane.
Remember, follow the commandments of the fastlane. Take risks, and set realistic goals. Track your progress, and it’s time to start hustling baby. This is a tried and true method, so start making millions!
Tell me in the comments how your plan for your business is going, and if you ever have any questions, feel free to ask me! Please take a moment to share this post with your friends, and maybe you can all drive lamborghinis together one day in fastlane paradise.