The Millionaire Fastlane & Building a Business w/ MJ DeMarco (MI170)

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Clay Finck chats with MJ DeMarco about why he chose entrepreneurship as his path to building wealth, his journey in building a successful business, how he knew it was time to sell what he built, why following your passion is bad advice when starting a business, what MJ’s definition of wealth is, ways in which entrepreneurs can validate their business ideas, and much more!
MJ DeMarco is an entrepreneur and international best selling author of The Millionaire Fastlane, Unscripted, and The Great Rat Race Escape. He is also the founder of The Fastlane Forum, which is a worldwide forum for entrepreneurs with over 70,000 users and nearly 1,000,000 contributions.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
00:13 - Why MJ chose entrepreneurship as his preferred path to building wealth.
02:55 - MJ’s journey to building his first successful business.
12:39 - How he knew it was time to sell out of his business.
16:44 - Why following your passion in starting a business is bad advice.
22:17 - What MJ’s definition of wealth is.
32:28 - Ways in which entrepreneurs can validate their business ideas.
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📖 BOOKS MENTIONED:
- The Millionaire Fastlane by MJ DeMarco: amzn.to/3Nl0RY4
- Unscripted by by MJ DeMarco: amzn.to/3yGXiaA
- The Great Rat Race Escape by MJ DeMarco: amzn.to/3lf3jU2
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀
▶️ RELATED EPISODES:
- (MI069) Practical Strategies For Starting A Business w/ Steve Hoffman: www.theinvestorspodcast.com/m...
- (MI071) How To Become A Successful Entrepreneur w/ Sean Castrina: www.theinvestorspodcast.com/m...
💡 OTHER RESOURCES
- Read MJ’s Fastlane Forum: www.thefastlaneforum.com/comm...
- Robert and Clay’s tool for picking stock winners and managing our portfolios, TIP Finance: www.theinvestorspodcast.com/t...
- Check out our Investing Starter Packs about business and finance: www.theinvestorspodcast.com/m...
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On Millennial Investing, I chat with MJ DeMarco about why he chose entrepreneurship as his path to building wealth, building a successful business, and much more! Have you read The Millionaire Fastlane? What are your thoughts on it? 💭- Clay IMPORTANT: Please beware of cyber scams & phishing attacks. We have received reports of fake accounts claiming to be affiliated with The Investor's Podcast Network or posing as one of our hosts. Please help us report those suspicious accounts. We will never reach out to you for any business or investment opportunity. Stay vigilant!

[@la_feliz]

The Millionaire Fastlane book changed the way I do business. Right now, I am on the process of building my software business for dermatologists. I can see and feel a bright future ahead for me and for my family in this business path I chose.

[@jairunet]

Incredibly exciting and motivating interview, loved it! Thank you TIP, I still think that Preston Pysh is on the right target with bitcoin though, MJ also gave us a hint 😉to stay connected with the reality of what is happening.

[@tahirisaid2693]

That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success.. ..

[@PjotrZ09]

MJ is the great inspiration to me. I don't have a business but I'm still looking for opportunities which becomes my wealth vehicle.

[@TheInvestorsPodcastNetwork]

Best of luck to you! Thanks for tuning in.

[@mikesummer5760]

WOW 🤩😇 $1M worth of value in 40 minutes. Thanks

[@TheInvestorsPodcastNetwork]

Glad it was helpful! 🙌

[@vladcalin]

Really nice video. Read the Millionaire Fastlane a while ago and it really put a lot of things into perspective for me and made me decide to start actively going for it. I'm not there yet, but I'm closer than I would have been if I wouldn't decided to do that. It compounds.

[@TheInvestorsPodcastNetwork]

That's great! Thanks for sharing and good luck! 💪

[@edmundomontoya7570]

Great information

[@shaerbazkhan5859]

Amzing

[@ryankeenan351]

What do you think about buying a profitable buisness rather then start from scratch?

[@T.R.A.I.N.I.N.G.]

you better be good at business management because under your leadership it may lose success

[@gustavschioerring7145]

You heard him talking about asymmetrical returns, right? But if you buy a business first your risking more than if you start one from scratch, even tho the process is longer.