The Millionaire Fastlane: Chapters (42-45) Summary

Be Someone’s Savior

A market is never saturated with a good product,
but it is very quickly saturated with a bad one.
~ Henry Ford

Chapter Summary: Fastlane Distinctions
•• Commoditization occurs when you get into business based on a false premise—
“I want to own a business” or “I know how to do this, so I’ll start a business doing it.”
•• If you are too busy copying or watching your competition, you’re not innovating.
•• Use your competition to exploit their weaknesses.

Build Brands, Not Businesses

Everyone has an invisible sign hanging from their neck saying,
‘Make me feel important.’
Never forget that message when working with people.
~ Mary Kay Ash

☀️ Businesses survive. Brands thrive.

☀️ If you want to sell anything, translate features to benefits. A four-step process accomplishes this:
1) Switch places.
2) Identify features.
3) Identify advantages.
4) Translate advantages into benefits.

Chapter Summary: Fastlane Distinctions
••Marketing and branding (the queen) is the most powerful tool in your Fastlane toolbox.
•• Businesses survive. Brands thrive.
•• Businesses have identity crises, brands don’t. Identity crises force business owners into price commoditization.
•• Unique Selling Propositions (USPs) are the keys to your brand and differentiate your company from the rest.
•• People have a natural disposition to be unique and unlike everyone else.
•• To succeed in marketing, your messages have to break above the advertising clutter, or noise.
•• Polarization is a great above-the-noise tool if your product targets a polarized audience—usually politics, minority opinions, and even sports teams.
•• Sex sells and always draws eyeballs.
•• Consumers make buying decisions based on emotions before practicality.
•• If you can arouse emotions in your audience, you will be more likely to convince them to buy.
•• People have a natural disposition to talk about themselves. If you can incorporate interaction into your campaigns, you will have better success.
•• To be unconventional means to first isolate and identify what is conventional, then doing the opposite, or interrupting that convention.
•• Consumers are selfishly motivated. Always target your messages toward the predisposition of “What’s in it for me?”
•• Features are translated to benefits when you switch positions from producer to consumer, identify the feature’s advantages, and extrapolate those advantages into a specific result.
•• Price implicitly conveys value and worth.
•• Don’t allow your own perception of price direct your brand to mediocrity

Choose Monogamy
Over Polygamy

No horse gets anywhere until he is harnessed.
No steam or gas ever drives anything until it is confined.
No Niagara is ever turned into light and power until it is tunneled.
No life ever grows great until it is focused, dedicated, disciplined.
~ Harry Emerson Fosdick

Chapter Summary: Fastlane Distinctions
•• Tekel Syndrome sufferers are polygamist-opportunists who opportunity hop.
••A weak business commitment commits you to weak assets. Weak assets do not accelerate wealth.
••The most successful entrepreneurs lived their business and were 100% committed to it.
•• Successful business monogamy can lead to successful business polygamy.

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: F-A-S-T-L-A-N-E S-U-P-E-R-C-H-A-R-G-E-R

1. Formula (Fastlane supercharger)
2. Admit (fAstlane supercharger)
3. Stop and Swap (faStlane supercharger)
4. Time (fasTlane supercharger)
5. Leverage (fastLane supercharger)
6. Assets and Income (fastlAne supercharger)
7. Number (fastlaNe supercharger)
8. Effection (fastlanE supercharger)
9. Steer (fastlane Supercharger)
10. Uncouple (fastlane sUpercharger)
11. Passion & Purpose (fastlane suPercharger)
12. Educate (fastlane supErcharger)
13. Road (fastlane supeRcharger)
14. Control (fastlane superCharger)
15. Have (fastlane supercHarger)
16. Automate (fastlane superchArger)
17. Replicate (fastlane superchaRger)
18. Grow (fastlane supercharGer)
19. Exit (fastlane superchargEr)
20. Retire, Reward, or Repeat (fastlane superchargeR)

The 40 Fastlane
Lifestyle Guidelines

I SHA LL . . .

1. Not dismiss “Get Rich Quick” as improbable.
2. Not allow the Slowlane to bury my dreams.
3. Not allow Slowlane prognosticators to contaminate my truth with their dogma.
4. Not ordain the Slowlane as the plan, but let it be a part of the plan.
5. Not sell my soul for a weekend.
6. Not expect nor seek a chauffeur to wealth.
7. Not trade my time for money.
8. Not put time in control over my financial plan.
9. Not forsake control over my financial plan.
10. Not demote time as abundant and effervescent.
11. Not assign faith to events, but to process.
12. Not take advice from gurus who preach one roadmap, while getting rich using another.
13. Not use compound interest for wealth, but for income.
14. Not disrespect the passivity of a dollar.
15. Not cease learning at graduation, but start it.
16. Not impose the burdens of parasitic debt into my life.
17. Not play on Team Consumer, but switch to Team Producer.
18. Not dismiss the plausibility of my dreams.
19. Not chase a path of money, but a path of need.
20. Not fuel my motivation by love, but by passion.
21. Not focus on my expenses, but on my income.
22. Not pay myself last, but first.
23. Not do what everyone does.
24. Not trust everyone, but allow trust to be proven.
25. Not relinquish control over my business.
26. Not hitchhike, but seek to drive.
27. Not operate within limited scales and in tiny habitats.
28. Not dishonor the horsepower of my choices.
29. Not swim as a guppy in a pool, but as a shark in the oceans.
30. Not consume first, but produce first, and consume later.
31. Not engage in barrier-free or entry-weak businesses.
32. Not invest in other people’s brands, but in my own.
33. Not give credence to ideas, but to execution.
34. Not forsake my customer for other stakeholders.
35. Not build a business, but a brand.
36. Not focus my marketing messages on features, but benefits.
37. Not be a polygamist opportunist: Focus!
38. Not engage my business like checkers, but chess.
39. Not live above my means, but seek to expand my means.
40. Not live without the insurance of financial literacy.