The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

by M.J. DeMarco

Joe failed because there wasn’t a genuine need in the marketplace and his motives were selfish. Had Joe analyzed these questions foremost, his odds of driving a successful road would have dramatically improved. Several years ago, during the economic expansion, I noticed a standalone storefront being built in my mother’s neighborhood of Chandler, Arizona, a suburban bedroom community south of Phoenix. As the building went up and the store tenant moved in, the heat of failure percolated. How did I know? This new store was a hip-hop apparel boutique. Fasten your seat belt here comes failure! Why? The store violates the Commandment of Need. The neighborhood doesn’t need a hip-hop store. The area isn’t urban, there are no dance clubs nearby, and nothing looks remotely hip-hop. In fact, not 100 yards away there is an elder care retirement home. Is a 91-year-old grandpa the target market for hip-hop gear? The obvious problem here is selfishness. The owner is following his passions, and his love for hip-hop music and culture. Maybe a life coach told him to “do what you love.” Whatever the motive, the need is internal and not externally based on the marketplace. I predicted the business would last 12 months. After 18 months, the business disappeared. The road was paved with sand because no need existed.