People either love or hate MJ DeMarco but there’s one thing he got right…
Who is MJ DeMarco?
MJ DeMarco is a semi-retired entrepreneur, investor, advisor, and international best-selling author whose books have been translated into over 25 languages worldwide. His most popular book is “The Millionaire Fastlane.” He is the current founder of Viperion Publishing Corp., a media company focused on online and print content distribution.
Why is MJ DeMarco so hated?
Because he has turned the “traditional” success career path into a myth. He teaches that wasting your life in a job hoping to retire at 65 is insanity. He makes the point that most people have bodies with little life left in them to even enjoy retirement after 65. That is if they live long enough.
Here are a few of his insights:
- You’ll fail if you have the wrong mindset, no matter how much you earn.
- The conventional path to wealth is unsound.
- You don’t need a flashy degree to get wealthy.
- Wealth doesn’t equal money, but money can increase your wealth.
- Becoming a millionaire is the result of a process, not one “big hit.”
- To get rich, think like a producer, not as a consumer.
- If you want to be a millionaire, forget the saying “do what you love.”
- A business that’s worth entering can’t be entered without effort and isn’t open to everyone.
He advocates the C.E.N.T.S. approach to entrepreneurship:
C – Control – to create true financial freedom you must control the “product”.
E – Entry – or more properly put: “create a barrier to entry”. This is sometimes called a moat.
N – Need – You must have or represent a product that your customer needs.
T – Time – you must find a muse that will allow you to separate your time from your income. This way you stop trading time for money sometimes referred to as renting your life.
S – Scale – You should be involved with a business that lets you scale it. In other words, does not put a ceiling on your earning power!
Click here to see what our students think is the perfect FastLane business.
