THE MILLIONAIRE FASTLANE

August 7, 2018 by Timo No Comments

THE MILLIONAIRE FASTLANE – BOOK REVIEW

The Millionaire Fastlane: Crack The Code To Wealth And Live Rich For a Lifetime by MJ DeMarco.

I have never read a book quite like The Millionaire Fastlane. This book is truly unique. The author, who is a successful entrepreneur many times over, provides information on how he and many others have become successful. The content is somewhat like a recipe book, outlining the ingredients necessary in order to have successful results as an entrepreneur.

What category do you fall into?

The author divides people into three main categories. There are the “Sidewalkers” who spend every penny they have and more, and end up in a great deal of debt with no thoughts of their financial future. There are the “Slowlaners” who follow the advice of folks like Suze Orman and dream of getting rich slowly through relying on compound interest to eventually make them rich over many years. And then there are the “Fastlaners” who focus on ways to increase their income now, rather than following the get rich slowly track that so many of us follow.

Can you pay yourself first?

This book is provocative. Within a few pages of reading this book you will discover which of the three categories you fall into and more than likely it’s not going to be the Fastlane category. Most of us are Slowlaners. This book is eye opening because the author debunks so many of the commonly accepted financial ideas that are presented to us on a regular basis. For instance, the author questions whether or not it is even possible for an employee to pay themselves first. He argues that when you get your paycheck, taxes are already deducted so the government is really the one who gets paid first. He contends that as long as you are an employee, it really isn’t possible to pay yourself first. Interesting food for thought, isn’t it?

Are most personal finance authors hypocrites?

The author also talks about how people who write so many of these popular personal finance books tell their readers how to get rich slowly, while the authors themselves are actually Fastlaners, making big bucks by writing books, etc. So, in a sense, these authors are hypocrites because they do not practice what they preach. Do we really think that Robert Kiyosaki and Suze Orman are getting rich by following their own advice? Or are they getting rich by writing and selling numerous books, doing seminars, etc.?

What makes this book different?

The reason this book is so powerful is because MJ Demarco achieved success first, and then decided to write about it in order to help others to become successful entrepreneurs. He didn’t write this book in order to become rich because he already is rich. This book is also refreshing, as the key elements he presents all make sense. There is nothing hocus pocus about becoming successful. It takes a lot of hard work, perseverance, and passion. Fastlaners know that it is all about process.

It’s a narrow road to the Fastlane.

The road is most certainly narrow for the Fastlaner, and that is why so few of us ever get to that point. Fastlaners do not take the advice of others who say you can do what you love and the money will follow. Instead, once they are successful, their excess funds will allow them to do what they love. In the meantime, however, they need to be selfless, discover what the market needs, and provide a solution to meet that need. They need to focus on others instead of themselves and once they’ve discovered a way to help others, they need to learn how to market their solution and reach out to as many people as possible. Once Fastlaners are successful, they will have more than enough money to go around and this will free them up to do the things they really enjoy.

Focus on increasing your means.

Unfortunately, most of us really are Slowlaners. We focus more on how to save money and reduce expenses, rather than focusing on how we can increase our income by finding a way to meet others’ needs. As the book points out, there is nothing wrong with living below your means as we are taught to do as a Slowlaner, however, the key is to work towards increasing your means rather than simply following the get rich slowly formula.

If you are interested in learning more about what it takes to become a successful entrepreneur, I would highly recommend that you read this book. Although it may discourage you if you are currently a Sidewalker or a Slowlaner, this book may be just the thing you need to get motivated to take your first step towards entrepreneurial success.

Reading time: 4 min

The 10X Rule: The Only Difference Between Success and Failure

July 21, 2018 by Timo No Comments

The book, 10X Rule: The Only Difference Between Success and Failure by Grant Cardone

I’m excited to share some of my favorite takeaways today with you.

Intro

“The 10X Rule will ensure your success regardless of your talent, education, financial situation, organizational skills, time management, the industry you are in, or the amount of luck you have. Use the book as though your life and your dreams depend on it, and you will learn to operate at new and higher levels than you ever thought possible!” Who could resist?!

#1: Success is an investment in yourself

It’s never one and done or a battle to be won. Cardone likens success to a lawn that’s been perfectly groomed and manicured; it can only be a true success if it’s constantly maintained.

The focus of the 10X Rule:

“You must set targets that are 10 times what you think you want and then do 10 times what you think it will take to accomplish those targets. Massive thoughts must be followed by massive actions. There is nothing ordinary about the 10X Rule. It is simply what it says it is: 10 times the thoughts and 10 times the actions of other people.”

The basic series of mistakes that cost you your own success are:

Setting your sights too low
“Severely underestimating” what it will take to get things finished
Striving to compete rather than aiming to dominate
Assuming the challenge will be easy

#2: Do not underestimate the effort it takes to get things done

This book will open your eyes as to how many of us do just enough to get by, accessing only a fraction of our true potential.

This is the 10X Rule in effect.

“Never reduce a target. Instead, increase actions. When you start rethinking your targets, making up excuses, and letting yourself off the hook, you are giving up on your dreams! These actions should be an indication that you’re getting off track—that you should begin thinking in terms of correcting your initial estimation of effort.”

From a marketing standpoint, the above quote made so much sense to me. Have you ever shared something, then felt it fizzle out within moments? It’s as if you called the attention of a roomful of people expecting their audience, only to watch them glance up and then go right back to what they were doing. It raises the question: are you doing enough to be remembered?

#3: Assume control of and responsibility for your life

If you’re holding tight to excuses or self-imposed limitations, Cardone’s got your number.

“Crybabies, whiners, and victims just don’t do well at attracting or creating success. It’s not that they aren’t capable; it’s just that people who typically succeed are required to take big actions—and it is impossible to take big actions if you don’t take responsibility. It is equally impossible to do something possible when you are spending your time making excuses.”

The 10X Rule leaves you reevaluating everything you think you can and can’t do to create your own success. It’s an eye-opening lesson in responsibility and self-ownership.

#4: You must take massive action to get things done

I can think of a handful of things I’ve wanted to do for ten years now, such as own investment properties, take more vacations abroad, and open a storefront. After a decade of wishing, I haven’t even approached step one on any of those desires.

I’m working privately with clients right now, and every single one of them has a list of untapped, dreamy aspirations as well. How about you? What remains unfulfilled on your life’s wish list?

Cardone teaches four degrees of action:

Do nothing. In this degree of action, you’re working to make excuses.
Retreat. In this degree of action, you’re moving in the opposite direction of success.
Take normal levels of action. You do enough to get by (the majority dwell here).
Take massive action. You take immense, unstoppable action toward the target.

What you’re reminded of throughout the book is how rare the fourth degree of action actually is. Numbers one through three are comfortable and average. Cardone goes onto explain all of the problems you’ll encounter if you tackle a new approach of massive action.

“A mediocre person will tell you that you are wasting your time, this won’t work in your industry, it is a turnoff to your clientele, no one will want to work with you, and so on.”

“You will know you are stepping into the realm of massive action when you (1) create new problems for yourself and (2) start to receive criticism and warning from others.”

The advice he gives in Chapter 7: The Four Degrees of Action is worth the price of the book alone. It shines a new light on everyday thinking, causing you to question everything you’ve ever been taught about attaining success.

#5: To be average is to fail

Cardone believes people are addicted to average because it “assumes—incorrectly, of course—that everything operates stably.” He says,

Rid yourself of every concept of average.

“Study what average people do, and prohibit yourself and your team from considering average as an option. Surround yourself with exceptional thinkers and doers.”

I’ve taken this advice to heart. I even made lists of what average wives, mothers, bloggers, and friends do to ensure I don’t follow the herd, but carve a path of excellence instead.

#6: Dominate the territory

Competition is one of my favorite subjects in the book because it speaks to exactly how most of us think about competing in our industry or online space.

“From what I have seen, competing with others limits a person’s ability to think creatively because he or she is constantly watching what someone else is doing.”

Instead, Cardone suggests a personal campaign trail that will overshadow and dominate your industry completely. He advises that you not try to compete in a space, but become it. “The message you want to send to the marketplace through your persistent action is, ‘No one can keep up with me. I’m not going away. I am not a competitor. I am the space.”

His thinking on competition, in itself, is worth a million dollars!

#7: Make the ask

“Many sales professionals give themselves much more credit for trying to close the deal than they deserve and think they’re doing so much more often than they actually are. In reality, most never even ask for the order once, much less the supposed five times that are necessary.”

#8: The goal is to expand

The 10X Rule speaks to that idea, and I love how he explains why quitters fail. When you think that one of your ideas didn’t work, Cardone says “the only reason why it didn’t work is because you didn’t stick with it long enough for the market, your clients, and your competition to finally submit to your efforts. Repeated attacks over extended periods of time will always be successful.”

#9: Never rest on your laurels

Never rest on your laurels.

“Once you take 10X actions and start getting traction, you must continue to add wood to your fire until you either start a brushfire or a bonfire—or burn the place down. Don’t rest, and don’t stop—ever.”

I want to be careful with what I’m highlighting here because trust that the author, Grant Cardone takes vacations and time off. The message is here to ensure you keep persisting and pushing your ideas forward. That, and “there can never be enough wood on your fire.”

#10: Fear is a good sign.

Are you scared to email and ask? Scared to ask again? Scared to ask yet again?! All good indicators that’s the push your business needs in order to achieve the next level. Cardone says, “Fear of requesting the client’s business means that you must ask for the business—and then keep asking.”

“The person who takes action on whatever he or she fears the most will be the person who advances his or her cause the most. Let the rest of the marketplace submit to anxiety and prepare unnecessarily for False Events Appearing Real. You’ve got a job to do.”

I review my notes on the 10X Rule regularly, and I always leave the book to make a call, take an action, or express a need for something I’ve feared up to that point. The above quote could not be more true for you and me in our careers: the person who conquers their fears the most advances their cause the most.

Reading time: 7 min

Review: Discipline Equals Freedom Field Manual by Jocko Willink

July 16, 2018 by Timo No Comments

Discipline Equals Freedom Field Manual

What would your life look like if you had the freedom to do whatever you want? Would it be all relaxation and goofing off? Spontaneity and fun? Probably not. In fact, it would probably involve a greater degree of discipline and structure than you have previously imagined. If that sounds counterintuitive, you’re going to want to keep reading.

Former Navy SEAL Jocko Willink’s third book, the Discipline Equals Freedom Field Manual, is a tactical guide to the practices and philosophies he has employed in his own life. Through them, he has thrived in his combat career, excelled in civilian business, run a successful gym for a decade, and rocketed to the top of the New York Times Best Sellers list.

Discipline Equals Freedom. A man’s entire philosophy boiled down to 3 words.

At 190 pages it isn’t meant to waste your time and that’s why I like Jocko’s writing.

He stays disciplined even within his writing.

The book is broken into 2 parts: Thoughts and Actions. Part I (Thoughts) discusses his philosophy and Part II (Actions) discusses physical conditioning (diet, stretching, etc.).

There is also a bonus appendix with very, very detailed workouts for different levels of physical condition (i.e. beginner to advanced).

What most impressed me about this book was Jocko’s ability to discuss a topic in detail and then summarize it succinctly in one line.

This is his gift and he uses it in almost every chapter.

Glory in solitude.

Laughter wins.

Curse the warmth of the bed.

All of these ideas, and others, are included in Part I (Thoughts) of this field manual.

Closing Thoughts

This isn’t your typical motivational book. Although it does contain a comprehensive workout guide, Discipline Equals Freedom is more than a workout book.

It is a manifesto against personal weakness and excuse making; a step-by-step guide to reshaping the person you are into the person you wish to be.

Jocko even used the book himself after the recent passing of his best friend in a tragic accident.

He lives it and I hope you can take some inspiration from this book to live closer to your truth. With that being said, I will leave you with one of my favorite quotes from the book:

I hope you enjoy Discipline Equals Freedom as much as I did. You can get it here on Amazon!

Reading time: 1 min

The 4-Hour Workweek Review!

July 14, 2018 by Timo No Comments

The 4-Hour Workweek

Reading “The 4 Hour Workweek” is like having Tim Ferriss grab you by the hair, shake you, and say WHAT IS WRONG WITH YOU!?! YOU NEED TO USE THESE TIPS TO BE MORE EFFICIENT!! Also, the tips work. GTD fans, entrepreneurs, and basically anyone who reads this site will learn tons from The 4-Hour Workweek.

I absolutely loved this book. In fact, within 6 hours of reading it, I had completely changed the way I handle email — and I already thought I was efficient.

Three days later, I had changed the way I handle followups and meetings. The book is about creating an infrastructure so you can work only 4 hours a week (a colorful metaphor) and use your time to serve you, instead of the other way around. Tim’s insights about email, outsourcing, and business use take it to a new extreme. For example, he suggest checking your email twice a day. Now, I’ve heard this suggestion before, but usually it was a failure of the last mile for me: I didn’t know where to start.

Tim goes the extra step and provides the text of the auto-response email he uses, which basically says ‘I check my email infrequently, so here’s an FAQ you can read that will probably answer your questions. Otherwise, here’s my phone number, or be patient and I’ll get back to you.’ And, in the smartest line in the book, his autoresponder includes this line: “Thank you for understanding this move to more efficiency and effectiveness. It helps me accomplish more to serve you more.”

Who could argue with that?

He uses multiple virtual admins from around the world. As he writes, “Indian and Chinese VAs…will run $4-$15 per hour, the lower end being limited to simple tasks and the higher end including the equivalent of Harvard or Stanford M.B.A.s and Ph.D.s.” Then he goes on to describe exactly how to work with virtual admins, including how to give instruction, how to pick the best ones, and — this goes the extra mile — the best URLs for finding virtual admins.

There’s more in the book. Here are some the other key insights I took away:

“Don’t ever arrive at the office or in front of your computer without a clear list of priorities. You’ll just read unassociated e-mail and scramble your brain for the day.”
“Being busy is a form of laziness–lazy thinking and indiscriminate action”
How to end a meeting on time
And a great lesson he illustrates:”For all four years of school, I had a policy. If I received anything less than an A on the first paper or non-multiple-choice in a given class, I would bring 2-3 hours of questions to the grader’s office hours and not leave until the other had answered them all or stopped out of exhaustion. This served two important purposes:1. I learned exactly how the grader evaluated work, including his or her prejudices and pet peeves
2. The grader would think long and hard about ever giving me less than an A. He or she would never consider giving me a bad grace without exceptional reasons for doing so, as he or she knew I’d come a’knocking for another three-hour visit.Learn to be difficult when it counts. In school as in life, having a reputation for being assertive will help you receive preferential treatment without having to beg or fight for it every time.

Tim is kind of a weird playboy. In fact, for half of the book, you’ll be shaking your head saying “Is this guy for real?” He’s a Guinness record-holder in Tango, a national champion in kickboxing, and runs a business that makes supplements “scientifically engineered to quickly increase the speed of neural transmission and information processing,” which makes me more than a little suspicious. Some of the tactics he recommends are frankly sleazy. And other people have wondered if he has a real job besides self-promotion; Tim admits in his book that he was fired from most of them.

Closing Thoughts

This book is very inspiring, and takes a very different take on entrepreneurship than most books you’ll find on the subject. Tim suggests increasing efficiency in everything you do (both personal and professional) by applying the 80/20 rule and setting deadlines. (The 80/20 rule says that 80% of your results come from 20% of your efforts) When you only do 20% of the things you were doing before, and you set deadlines so you complete them faster than you normally would… efficiency ensues.

So in addition to this efficiency point, Tim also suggests setting up little-to-no effort income streams in the form of small niche-market internet-based businesses. He recommends outsourcing everything to a handful of companies so that your only “job” is making sure everybody plays nice together.

Once you have your life efficiently outsourced and funded with a work-free business… you take unlimited vacations and party like a rock-star! That sounds like a pretty sweet deal. I think this review came off making his book seem overly simplistic and not realistic. That wasn’t my experience at all. I really felt like he gave good information on how to make his reality come true! In fact it got me very excited about the prospect of having a “muse” (his word for a hands-free income stream). I’ve been making some moves in that direction since then. This book is definitely worth a read, and will end up in the stockings of some of my friends this Christmas.

Thanks for reading and you can get the book here on Amazon!

Reading time: 4 min

Effective Tips for Writing Assignments You Probably Didn’t Know About

July 4, 2018 by Timo No Comments

For many students, transitioning to high school can cause an academic whiplash. They have to adapt to a new environment, adjust with the surroundings, and most importantly, score well in their academics.

If students are serious about getting the best grades, they have to get a number of things sorted. The first on the list is assignment writing.

To my knowledge, students are scared of assignments not because they do not have the right skills but because they aren’t aware of its do’s and don’ts.

If you are feeling the same way, don’t fret as we present the best and most effective tips for writing assignments.

Attend your classes regularly

There are many students who skip classes for no reason. If you want good grades, make your classes a priority.

Firstly, sitting in a classroom and listening to lectures can teach you more things than your textbook can. Professors have a lot to share beyond the textbook syllabus and you shouldn’t miss that opportunity.

When you pen down all the extra points your professor spoke about into your assignments, he will feel happy about you being attentive throughout the class. This way, you’ll be able to impress him.

Secondly, many professors have attendance policies which can have a direct impact on your grades.

Take down notes

write down notes

Apart from attending your class, you should also focus on taking notes. It can help you prepare the right content as well as get ideas about your professor’s style.

You can take notes from scratch or by closely following your professor’s outline. This way, you’ll be able to get back at the most important details of your assignment.

Study those notes

Taking down notes and keeping them stacked on your desk is not a great idea. You should know how to use them effectively to score good grades.

Even if you are busy with other things, keep practicing and revising your notes at least once a week. Plus, studying your notes regularly can make it easier for you to review during the exam season.

Focus on the writing rules

Expect different assignments and be prepared to go through them. One of the best ways to do that is to thoroughly read each question or writing rule.

Each professor has his own preference so take the time to know more about that. Then, organize your ideas and thoughts and present them in a way that you know your professor would like.

You also need to understand that you may not get it done correctly on the first try. Be prepared to make adjustments after.

Don’t forget to address the major requirements of your assignment. If in doubt, get help from your friends, assignment help portals or any other resources you feel comfortable with.

Once done with the writing part, be sure to reference the assignment correctly and proofread it. You can ask a friend to check it for you.

Practice verbal communication

verbal presentation

Many assignments include a presentation component and this is the last hurdle a student needs to jump over to earn an A grade in his assignment. This, however, isn’t as easy as it sounds.

To hit the bull’s eye, you need to present your assignment in the best possible way. This makes verbal communication important.

Every professor has a set of guidelines when grading a presentation. He/ she will focus on your tone, the clothes you are presenting in, the way you speak, and the actual content of your assignment.

Practice these tips for writing assignments and you’ll surely ace all of them.

The post Effective Tips for Writing Assignments You Probably Didn’t Know About appeared first on Dumb Little Man.

Reading time: 3 min