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The Law of Effection
The more lives you affect in an entity you control, in scale or in magnitude, the richer you become.
To exploit the Law of Effection, your business needs to make an impact of either scale or magnitude, or both.
Within our Fastlane wealth equation, “scale” and “magnitude” are implicit to our “net profit” variable.
NET PROFIT = Units Sold (Scale) X Unit Profit (Magnitude)
846
2.59K reads
MORE IDEAS ON THIS
The Five Fastlane Business Seedlings
- Rental systems. Real estate is an example of a rental system that produces a recurring monthly income
- Computer/software systems. The internet and software programs have created more millionaires than any other system in history
- Content systems. Content systems are systems of ...
942
2.76K reads
"The ultimate insanity is to sell your soul Monday through Friday for the paycheck of Saturday and Sunday. Yes, give me $5 today and in return I’ll give you $2 back tomorrow. 5-for-2. No? Why? This is a smoking Deal!"
M.J. DEMARCO
823
3.47K reads
The Five Fastlane Commandments
- The commandment of need. Businesses satisfy the needs of people. Don’t chase money. Rather, look at how your business will help other people.
- The commandment of entry. As entry barriers to a business fall, or lessen, the effectiveness of that road...
887
2.34K reads
"Somebody should tell us, right at the start of our lives, that we are dying. Then we might live life to the limit, every minute of every day. Do it! I say. Whatever you want to do, do it now. There are only so many tomorrows."
MICHAEL LANDON
856
3.06K reads
True Wealth Isn’t Having A Bank Balance
The get rich slow strategy that is championed by society is a losing game. It is anchored on your time, assumes that everything will go according to plan, and doesn’t involve getting rich at a young age.
If you want to get rich, take the Fastlane road.
True wealth is authored by three...
941
4.96K reads
The Slowlane Roadmap Equation
Wealth = (Primary Income Source: Job) + (Wealth Accelerator: Market Investments)
When in the Slowlane, you mindlessly trade your life for a paycheck.
828
3.96K reads
The Three Road Maps To Wealth: Mediocrity- The Slowlane
Slowlane mindset:
- Debt perception: Debt is evil.
- Time perception: Time is abundant
- Education perception. Educations is important as it helps earn more dollars
- Money perception. Each and every dollar must be accounted for because money is scarce
842
3.33K reads
The Fast Roadtrip To Wealth
The roadmap to wealth is made up of four key ingredients:
- Your roadmap. The roadmap is the guiding force behind the decisions you make
- Your vehicle. Your vehicle is you. No one can drive you to your financial destination
- Your r...
887
4.12K reads
The Three Road Maps To Wealth: The Fastlane Roadmap
The Fastlane mindset:
- Debt perception: Debt is useful as it allows one to grow their system
- Time perception: Time is far more important than money
- Education perception. Learning is important for growth
- Money perception. Money is everywhere. It r...
985
3.16K reads
"Instead of digging for gold, sell shovels. Instead of taking a class, offer a class. Instead of borrowing money, lend it. Instead of taking a job, hire for jobs. Instead of taking a mortgage, hold a mortgage. Break free from consumption, switch sides, and reorient to the world as producer."
M.J. DEMARCO
927
2.86K reads
The Fastlane
The Fastlane is a state of wealth that is characterized by abundance. In the Fastlane, you don’t trade your time for money and are in complete control of all the wealth-generating factors.
The Fastlane lifestyle is for the people who want to retire young and don’t want to ...
863
6.69K reads
Tips For Making Better Decisions
1. Worse Case Consequence Analysis (WCCA). Analyse potential consequences before making a decision.
2. Weighted Average Decision Matrix (WADM). Weigh the various decisions and see which one is better.
875
2.84K reads
"You could own the best hotel in the world located on the best beach in California, but if customers are treated like inconveniences and requests go unfulfilled, they won’t return."
M.J. DEMARCO
803
2.84K reads
The Three Road Maps To Wealth: The Sidewalk To Poorness
Sidewalker mindset:
- Debt perception: Credit allows you to buy things now.
- Time perception: There is enough time and you could be dead in two weeks anyway.
- Education perception. You don't need to learn.
- Money perception. If you have money, flaun...
872
4.14K reads
Your Vehicle To Wealth
- To get to the Fastlane, you need a well-oiled and ready vehicle and that vehicle is you. You are the one responsible for making the journey.
- You can’t pay yourself first if you don’t own yourself. To own yourself, create a corporation that divorces you from the act of business.
828
2.47K reads
"The Millionaire Fastlane isn’t about being retired old with millions, but about redefining wealth to include youth, fun, freedom, and prosperity."
M.J. DEMARCO
813
6.86K reads
"Time isn’t a commodity, something you pass around like a cake. Time is the substance of life. When anyone asks you to give your time, they’re really asking for a chunk of your life."
ANTOINETTE BOSCO
872
3.45K reads
The Fastlane Is A Business, Not A Job
The Fastlane is a business system while the Slowlane is a job. In the Slowlane, you trade your time for your employer’s cash while in the Fastlane, wealth is driven by a business system.
The Fastlane wealth equation looks like this:
Wealth = Net Profit + Asset Value
858
2.68K reads
The Importance Of Speed
The Fastlane is a conglomeration of information that creates potential speed. You understand the Fastlane roadmap and its wealth equation. You’ve dumped the Sidewalk and the Slowlane.
Ideas are nothing without execution. Execution divides winners from losers. Execution is a...
846
2.68K reads
CURATED FROM
CURATED BY
An excellent book on how to create insane wealth and live a great life. M. J. Demarco shares the secret to becoming a millionaire at any age. And it is not the kind of advice you receive from financial gurus, parents, or friends.
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The Law Of Effection
….states that “the more lives you affect in an entity you control, in scale and magnitude, the richer you will become.”
Or
“Affect millions and make millions.”
Wealth-The Fastlane Roadmap
People don’t make millions because of wishful thinking.
The well-known Law of Attractions does not work at all. Thinking about wealth will not make you wealthy. So, what will? Impacting millions. The more people you impact, the wealthier you will be. Think...
Cracking the code of the Income Statement
It consists of three main categories:
- Sales or revenue during a given time period. It includes sales (revenue) and Earnings-per-share (EPS)
- Costs and expenses: “Above the line” are the cost of goods sold (COGS), cost of services (COS). “Below t...
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