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The Millionaire Fast Lane: Book Review
The Millionaire Fastlane is a hit book by the award winning author MJ Demarco who made his own multimillion dollar fortune as an entrepreneur and developer of Limos.com. As the title suggests, this book not only explains how the reader can increase their earning potential, but also gives them the information needed to achieve this at an accelerated rate.
What sets The Millionaire Fastlane apart from other financial guidance publication is that it pulls apart the traditional 'get rich slow' advice given out by 'financial gurus'. The Millionaire Fast Lane is not a conventional how-to-guide. Instead it discusses key business principles and gives detailed explanations on how and why they work. For those interested in investing in MJ Demarco's work, the following are the main issues covered in each section of the book:
Part 1) Wealth in a Wheelchair
The first section of The Millionaire Fastlane introduces the reader to the book's main premise: you do not have to wait until old age to be wealthy. The section challenges the 'Get rich slow' myth, and the author also tells his own inspirational story of how he developed a multi-million dollar idea whilst stuck in a thankless job.
Part 2) Wealth Is Not A Road, But A Road Trip
This section of the book explains the importance of developing a process which can be repeated, rather than simply waiting for fortunate events to occur. It suggests that luck is not part of the road trip to success and that as long as you have a good process, you will be able to develop wealth continuously. It goes on to give invaluable advice on how to put these processes in place.
Part 3) Poorness: The Sidewalk Roadmap
Part 3 is the first of three chapters which describes the different levels of wealth that exist ('The Sidewalk', 'The Slowlane', and 'The Fastlane'), and it explains to readers how to work towards their goals from within each group. The chapters define the traits and habits of people within the groups and evaluate the way that they make their money. It concludes with bullet points which helps readers to identify which group they fit into.
In this book 'The side walk' is the term given to the path travelled by the poor. This section discusses how to avoid being in this situation, and what those stuck on The Sidewalk can do to better their financial position.
Part 4) Mediocrity: The Slowlane Roadmap
MJ Demarco uses 'The Slowlane' to represent mediocrity and the flat lining financial situation that most families experience. The book criticizes the traditional advice given to the middle classes from banks and the majority of money gurus. Things like saving money, investing in the stock market, and even getting a job are broken down and deemed incorrect.
Part 5) Wealth: The Fastlane Roadmap
In chapter 5 Demarco explains the 'Fastlane' is the ideal route for most people to take. He explains why aiming to gain wealth quickly works best, how the rich get there, and what you need to do to be in the same position. He also includes fascinating details about what he did to build up his own wealth and amazing lifestyle.
Part 6) Your Vehicle to Wealth: You
This section looks at the important preparations that you and your life will need in order to maximize future money making. It discusses how to overcome some of the most common obstacles to wealth, including lack of time to work on your own business.
Part 7) The Roads to Wealth
The roads to wealth segment of the book breaks down the skills and knowledge you will need in order to make money fast. This includes how to analyze situations quickly and how to recognize opportunities with the book's five commandments: need, entry, control, scale, time.
Part 8) Your Speed: Accelerate Wealth
Even once you have successful processes in place, it is more than likely that some hard decisions will arise. Part 8 instruct prospective entrepreneurs what to do in a number of difficult situations that could slow down your wealth, such as being faced with competition. It brings all other sections together and shows how to put them into practice.
As this Millionaire Fast Lane Book Review shows, the book is not the typical get rich how-to-guide. The reason this book has become so successful is that it has the courage to challenge the traditional advice given by financial experts and banks. No matter what your current situation, The Millionaire Fastlane can provide you with the information, principles, and confidence you need to get to your financial destination.