Chapter 45: Put It Together: Supercharge Your Wealth Plan! - The Millionaire Fastlane

CHAPTER 45: PUT IT TOGETHER:SUPERCHARGE YOUR WEALTH PLAN!

Your choices are made in a moment, but their consequences will transcend a lifetime.
~ MJ DeMarco

Give Wealth a Supercharger

The journey of a thousand miles begins with one step. I've spun a lot of information your way and it's time to put it together and take your first step. It's time to unfold your process with concerted action. You now have the necessary psychological and mathematical framework that will give you better probabilities for wealth. To start your Fastlane financial road trip strap on the F-A-S-T-L-A-N-E S-U-P-E-R-C-H-A-R-G-E-R, which is an acronym for the Fastlane process.

1. Formula (Fastlane supercharger)
Wealth is a Formula and a systematic process of beliefs, choices, actions, and habits that form a lifestyle. Wealth is a process, not an event.

2. Admit (fAstlane supercharger)
Admit that the preordained path to wealth, “Get Rich Slow,” is fundamentally flawed because of Uncontrollable Limited Leverage, weak mathematics predicated on time (Wealth = Job + Markets). Admit that “Get Rich Quick” exists. Admit that “no plan” is not a good plan. Admit that luck is the residue of engagement.

3. Stop and Swap (faStlane supercharger)
Stop following the wrong roadmaps. Stop doing what you've been doing. Stop selling your soul for a weekend. Stop thinking that 401(k)s and mutual funds will make you rich. Swap ineffective roadmaps for the Fastlane roadmap. Swap your allegiances from consumer to producer.

4. Time (fasTlane supercharger)
Time is the king asset of the Fastlane-specifically, free time. Invest in activities that will grant free time. Avoid time thieves, such as parasitic debt that transfigures free time into indentured time. Invest time into a business system that can transform indentured time into free time. Make decisions with time as a key decision factor.

5. Leverage (fastLane supercharger)
Leverage controllable and unlimited mathematics to create wealth. There is no leverage within the Slowlane wealth equation, an equation predicated on time (hourly pay, annual salary, annualized return, years invested). If you can't control the mathematics that predetermine your wealth, nor accelerate them into large numbers, you can't control your financial plan. Leverage is harnessed by a system that does the work for you.

6. Assets and Income (fastlAne supercharger)
Wealth is accelerated by exploding income and Asset value via a business that can be systemized and eventually sold in a liquidation event. Live below your means but seek to expand your means by focusing on income while simultaneously controlling expenses. Exponential growth of income and asset value, not slashing expenses, creates millionaires.

7. Number (fastlaNe supercharger)
What's your Number? How much money will you need to live a lifestyle of your choosing? Determine your number, break it down by the penny, and make it real today. Start saving your loose change, open a brokerage account, and put a chart on your office wall that continually monitors your number's progress. Make your dream lifestyle real by posting photos of that lifestyle at your workspace. For example, if you want a cabin on a mountain creek, find a picture of that vision and put it on computer so you have to see it every day. Make your visions of the future real and force them into your psyche so you're constantly reminded. If your dream is a Ferrari, buy a die-cast Ferrari model and put it in your car or on your desk. Make those dreams real and inescapable!

8. Effection (fastlanE supercharger)
Grace Effection and you shall be graced with wealth. The Law of Effection states, “The more people whose lives you affect in an environment you control, the more money you will make.” Impact millions and you will make millions. When you solve needs on a massive scale, money flows into your life. Money reflects value.

9. Steer (fastlane Supercharger)
Life's Steering is choice. At some point, you must commit to the Fastlane ideology, and that commitment forms your process. Wealth is not a choice of event, just like you cannot choose to lose 100 pounds and suddenly wake up 100 pounds lighter.

How you steer determines whether the Fastlane is a lifestyle or a hobby. To enforce good decisions at the extremes, deploy WCCA and WADM. Decision horsepower is strongest in youth and bleeds with age. Examine your past choices. Why are you where you are? What has been treasonous to your life? Why are you drowning in debt? If you don't rectify the mistakes of your past choices you will be destined to repeat them. Behavior change begins with a reflection of your past choices and modifying them for the future to reflect a Fastlane mindset. Become responsible, followed by accountable.

10. Uncouple (fastlane sUpercharger)
Officially Uncouple from the Slowlane wealth equation by creating your business structure in a favorable Fastlane entity: a C- or S-Corporation, or an LLC. Thereafter, your entity is the body of your surrogate business system. It “pays itself first” and the government last. It survives time separate from your time. It is your first step at creating an asset.

11. Passion % Purpose (fastlane suPercharger)
With a business entity and a dollar figure that outlines your dream life, you will need a Passion and a Purpose to fuel you into habitual action. Don't confuse “passion” with “do what you love.” Passion burns your soul and drives you to do whatever it takes. Passion revs you with excitement and enrages you with discontent. Some passions are selfish (I want a Lamborghini) and other passions are selfless (I want to help orphaned children). It doesn't matter what it is, as long as the passion burns hot enough to burn a hole in your pants and gets you embroiled into process.

12. Educate (fastlane supErcharger)
Education begins at graduation. Pledge to never stop learning. What you know now is not enough to become the person you need to be tomorrow. Seek Fastlane knowledge that fosters the construction and operation of business systems in an environment that you control. Get to the library and get on the Internet. Information is the oil on your financial journey. Ensure daily reading in short bursts by leveraging existing blocks of time often squandered: the train, the plane, while exercising, on lunch break, an hour in the morning before work, or while waiting at the post office.

13. Road (fastlane supeRcharger)
Get onto a Fastlane Road. But don't worry if you can't decide which road to travel; the road can pick you. Train your mind to see needs and problems. Observe your thoughts and language, because they expose unmet needs, or needs met poorly. You don't have to find the next breakthrough; just find a problem, a pain-point, or a service gap, and solve it. Many of the best businesses in the world are based on products that already existed; the owners solved the problem better. When you focus on needs, problems, inconveniences, and issues, roads open. Yes, the road chooses you.

14. Control (fastlane superCharger)
Control your financial plan as this refers to the Commandment of Control. Engage in an organization that you fully control, from pricing to marketing to operations. Fastlane entrepreneurs don't cede control over critical business functions to hierarchical control structures, because they are the control structure. Swim as a shark, not a guppy.

15. Have (fastlane supercHarger)
HAVE what others NEED and money will flow into your life. This reflects the Commandment of Need. You can't explode your income by chasing money. Stop chasing money, because it eludes those who try. Instead, focus on what attracts money, and that is a business that solves needs. Money comes from providing value. Cast aside selfishness and seek to HAVE what your fellow man WANTS. When you do, money flows into your life because money is attracted to those who have what others want, desire, crave, or need.

16. Automate (fastlane superchArger)
Automate your business and honor the Commandment of Time. Get your time detached from your business. The best passive-income money-tree seedlings are money systems, rental systems, computer systems, content systems, distribution systems, and human resource systems. The key to automation in any business lies in these seedlings.

17. Replicate (fastlane superchaRger)
Replicate your system and honor the Commandment of Scale. Get on a playing field where home runs can be hit. To make millions, you must impact millions. To impact millions, you must be on a field capable of affecting millions! Can your product, service, process be replicated on a global scale to tap the Law of Effection?

18. Grow (fastlane supercharGer)
Grow your business by treating it multi-dimensionally, like a game of chess. Build a brand, not a business. Treat customers like your boss and reposition complaints to opportunities. Listen to the world as they offer the best directional clues. Resist commoditization. Differentiate yourself from the competition. Get above the noise. Focus on one business and one business only.

19. Exit (fastlane superchargEr)
Have an Exit strategy. Full passivity accomplished by a money system is one Fastlane destination. Money systems are best funded by liquidation events of massive asset values. Know when it's time to liquidate your assets, transforming paper money into real money. Know when it's time to get off the horse and learn to ride a new one.

20. Retire, Reward, or Repeat (fastlane superchargeR)
After liquidating your asset(s), Retire or Repeat. Regardless of which, Reward yourself for milestones met everywhere along the journey. Sell your first product? Celebrate! Go to dinner, buy a cigar, drink a beer. Break $100,000 in net worth? Treat yourself to something nice. Book a joint-venture deal? Celebrate with an indulgence. Go over $1 million? Take a nice vacation. Break $10 million? Buy a Lamborghini.

“Uhh, Sir … We're Closing …”

The Fastlane road trip isn't a destination but a personal journey, and that journey becomes your life and your process. You will discover that that journey is worth living as long as your dreams are alive and have probability. It doesn't matter where you start, but how you proceed. The garage door to an exceptional life is open-leave behind the past that keeps you grounded and take to the road. All Fastlaners start in similar straits of life turbulence.

But MJ, I have a mountain of credit card debt!
But MJ, I have a job stocking shelves at the supermarket!
But MJ, I have no time after work!
But MJ, my wife hates my business ideas!

Beware of the “buts,” because they do just that: They grind your butt into the couch, doing nothing. Excuses never made anyone rich, and we all have them. Stop being like everyone and start taking action. Make a choice today that can change the course of your life forever.

Wow … we've been here a long time, the sun has set, and the coffee shop attendant has flipped the closing sign. I want to thank you for joining me. If you want to discuss Fastlane theory further, hit your browser to FastlaneEntrepreneurs.com or TheFastlaneForum.com. If this book has inspired or changed your life, please tell a friend or let me know at mj.demarco@yahoo.com

I hope The Millionaire Fastlane has awakened your dreams and given them a chance to live. Always remember, if your dream is alive, you're already living the dream! I hope everything for you, and maybe, perhaps someday, your impact on the world will reverberate through the years and you can reflect on that simple choice made long ago … that choice to pick up a book and read it. To your dreams … good luck and God bless.

MJ DeMarco