More on this book
Community
Kindle Notes & Highlights
Worse Case Consequence Analysis (WCCA) Weighted Average Decision Matrix (WADM) WCCA is designed to steer you away from DAREs and the treasonous choices that cause them. Conversely, WADM is designed to help you make better big decisions with multiple contingencies.
What is the worst-case consequence of this choice, and is it a DARE? What is the probability of this outcome? Is this an acceptable risk?
The problem with the past is that we remember memories we shouldn’t, and we don’t forget what we should.
If you’re limited by your past, it will be impossible for you to become who you need to be in the future.
Extraordinary wealth will require you to have extraordinary beliefs.
Time isn’t a commodity, something you pass around like a cake. Time is the substance of life. When anyone asks you to give your time, they’re really asking for a chunk of your life.
Value your time poorly, and you will be poor
People standing in line to save money ought to hold a picket sign announcing, “I value money more than my life.” That choice is a primal mistake.
Your money can’t save you anymore than it can save me.
Fastlaners understand that time is the gas tank of life. When the gas tank runs dry, life ends. Time is the greatest asset you own, not money, not the 1969 restored Mustang, not grandpa’s old coin collection. Time.
The reality is that time is deathly scarce, while money is richly abundant. $3 trillion is exchanged in the world currency markets on any given day. That’s $3,000,000,000,000. To give that perspective, you can spend a million dollars a day for 8,000 years, and you still wouldn’t have spent $3 trillion. That’s 109 lifetimes to quantify the total currency trading volume for ONE DAY. Money will be abundant as the world’s governments continue to recklessly print more.
Money buys free time and eliminates indentured time.
Wouldn’t it be nice to have one day of indentured time and six days of free time? If you can steal free time from the hands of indentured time, life will have more of the “right time” versus the “wrong time.”
For example, if you buy an audio system that costs $4,000 and makes $10 per hour, what’s the actual price? What is the weight of the poop? That price is 400 hours of your free time since you must work 400 hours × $10 per hour to repay the debt. Add 10% interest and your final cost stacks up to 440 hours of your free time added to your weight burden.
Everything we buy has not one cost but two: The actual dollar cost The free time transformed into indentured time.
Parasitic debt follows the same law. Control parasitic debt by controlling its source: instant gratification, a trait of the Sidewalk.
Think! Will this purchase TAKE FREEDOM? Will I own this, or will it own me? While some choose servitude behind iron bars, others choose servitude behind velvet walls. Both are the same. The ultimate wealth has the free time to live how you want to live. The Fastlane is about being both lifestyle rich as well as time rich.
Time losers are also inconvenient savers. The inconvenient saver desperately clutches onto every dollar, fearful it may never return. Extreme inconvenience is never a match for saving money.
Sidewalkers and Slowlaners use money as the sole criterion in decision-making: Which job pays the most? Where is the cheapest item? How can I get some free chicken? Money is scarce, and time brings up the rear and sweeps up the mess. If you want to be rich, you must start thinking rich... Time is king.
New opportunities rarely follow an old education.
The purpose of education within the Fastlane is to amplify the power of the money tree and the business system. You’re not a cog in the wheel; you learn to build the wheel.
You learn from engagement, from doing, and from getting out and taking repeated action, more so than from any book or professor.
To overcome the challenge, I had to learn. Study. Investigate. Solve problems.
You can’t drive the road to wealth with the brakes engaged. You must take risks. Get uncomfortable and fail to progress.
Take calculated risks. Do so, and some crazy shit can happen. You meet new people. New opportunities arise. Feedback pours in. “Lucky breaks” converge into your life. The act of doing does marvelous things.
it is easier to live in regret of failure than in regret of never trying.
If you’re a Fastlaner, your road is a business: Internet entrepreneur, real estate investor, author, or inventor. Your road is your career or business path, and that road must route to wealth.
The Law of Effection says to make millions, you must impact millions.
In the Fastlane, you engineer a business that touches millions of lives in scale or many lives of magnitude.
The Commandment of Control The Commandment of Entry The Commandment of Need The Commandment of Time The Commandment of Scale
Build corporate ladders—don’t join them. Build pyramid organizations—don’t join them. Think manufacture, not retail.
Whose money tree are you growing? Are you investing in your brand or in someone else’s?
Network marketing is a Fastlane, but only if you own the network marketing company. As a Fastlaner, you want to create these companies, not join them.
How do I know when “everyone is doing it?” Simple. When there is irrational exuberance about any investment that pervades Team Consumer—the general populous—that's when I know it is time to GET OUT AND STAY OUT. When the plumber comes over to fix the toilet and raves about his three cryptocurrency shitcoins that have appreciated 50% in the last three months, it's time to get out and stay out. When your personal trainer raves about his meme stock portfolio that earned 60% in two months, it's time to get out. Dumb money—EVERYONE—always shows up at the end of a boom. Who is dumb money? Consumers!
...more
Businesses that solve needs and provide value win. Businesses that solve problems win profits. Selfish, narcissistic motives do not make good, long-term business models. Think about the purpose of businesses. Why do they exist? To satisfy your selfish desire to “do what you love?” To meet your craving for wealth and financial freedom? Seriously, no one cares about your desires, your dreams, your passions, your “whys,” or your reasons for wanting to be rich. No one cares that you want to own a Ferrari and prove your parents wrong. No one cares that corporate America wronged you. No one cares!
...more
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? Why on God's green Earth should I give your business money? What value are you adding to my life?
Stop thinking about business regarding your selfish desires, whether money, dreams, or “do what you love.” Instead, chase needs, problems, pain points, service deficiencies, and emotions.
Give first, take second. Needs come first, not money!
Money chasers are consumers who haven't entirely made the transition to a producer. They want to be producers, but they selfishly think like consumers.
Want to make big bucks? Then start attracting money instead of chasing it.
Money isn't attracted to selfish people. It is attracted to businesses that solve problems. It's attracted to people who fill needs and add value. Solve needs massively, and money massively attracts. The amount of money in your life is merely a reflection of the amount of value you have given to others. Ignore this symbiosis, and money will ignore you. Successful businesses share one common trait: The satisfaction of consumer needs as reflected by sales in the marketplace.
Make a freaking impact and start providing value! Let the money come to you! Look around outside your world, stop being selfish, and help your fellow humans solve their problems. In a world of selfishness, become unselfish.
“What do I have to offer the world?” Offer the world value, and money becomes magnetized to you!
“It is for others to say whether I am useful or not.” It isn't for you to decide whether you are helpful. The marketplace makes that determination.
This book is possible because I didn't need the confirmation of money to authenticate my skill. If that sentence is too complicated, you confirm my point. Maybe I'm just not good enough. Regardless of sales, my book is a testament to “do what I love” whether I'm good or not. The Fastlane allowed money to be removed from the equation. Now, I don't need to get paid to “do what I love.” I just do it.
Your vehicle needs an ignition, a starter, something that compels you to jump out of bed in the morning challenged to tackle the day. That ignition is passion. Other people might call this a meaning, a purpose, or a why. You need to want something more significant for you, your family, or something else. It is different for everybody, but you will do anything for it when you find it.
When the focus is “doing what you love,” the focus becomes industry-specific, and you're likely to violate the Commandment of Need.
A formidable “why” is all you need to turn your daily activities into passionate motivation —the “get up in the morning” metamorphosis to bust open a Fastlane road.
Take four years of hard work in exchange for 40 years of freedom. Unfortunately, most people take 40 years of hard work for four weeks of freedom or however long their paid vacation lasts.
Chase money, and it will elude you. However, if you ignore it and focus on what attracts money, you will draw it to yourself.
