MI Rewind: The Millionaire Fastlane w/ MJ DeMarco

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 2 August 2024

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

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. IN THIS EPISODE, YOU’LL LEARN 00:00 - Intro 04:30 - Why MJ chose entrepreneurship as his preferred path to building wealth. 09:52 - MJ’s journey to building his first successful business. 18:14 - How he knew it was time to sell out of his business. 22:19 - Why following your passion in starting a business is bad advice. 26:03 - What MJ’s definition of wealth is. 40:14 - Ways in which entrepreneurs can validate their business ideas. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out MJ’s book, The Millionaire Fastlane. Check out MJ’s book, Unscripted. Check out MJ’s book, The Great Rat Race Escape. Read MJ’s Fastlane Forum. Related episode: Listen to: MI069: Practical Strategies For Starting A Business W/ Steve Hoffman, watch the video. Related episode: Listen to: MI071: How To Become A Successful Entrepreneur w/ Sean Castrina, watch the video. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:03.0	Hey guys, on today's show, I'm re-sharing a favorite episode from the past.
0:07.0	I'd like to do this because we get a lot of new listeners each week, and they will never have heard this excellent episode before.
0:14.0	And even if you've been listening for a while, you may have missed it when it first came out,
0:18.0	or you could at least benefit from reviewing some of this
0:21.3	episode's lessons again and reinforcing your learning. If you're not interested in episodes
0:26.2	from the past, there's no hard feelings at all, and you can pick up with us again next
0:30.7	week for a brand new episode. Everything going forward is from the original, and I hope you
0:35.8	guys enjoy listening to it as much as I did.
0:38.8	The challenge in that particular business was no longer there. It wasn't exciting. And also,
0:43.8	this was right before Uber started getting into MySpace. And I recognized that I needed a
0:50.3	significant technological injection into the company, along with multiple more employees.
0:56.7	I mentioned I only had five employees.
1:02.3	On today's episode, I'm joined by M.J. DeMarco. M.J. is an entrepreneur and international
1:08.2	bestselling author of The Millionaire Fastlane, Un scripted, and
1:12.2	The Great Rat Race Escape. He's also the founder of the Fastlane Forum, which is a worldwide
1:17.0	forum for entrepreneurs with over 70,000 users and nearly 1 million contributions. During this conversation,
1:23.8	we uncover why MJ chose entrepreneurship as his path to building wealth, his journey in
1:29.0	building his own successful business, how he knew it was time to sell what he had built,
1:34.0	why following your passion is bad advice when starting a business, what MJ's definition
1:39.1	of wealth is, ways in which entrepreneurs can validate their business ideas and much more.
1:45.0	With that, I hope you enjoy today's episode with the one and only M.J. DeMarco.
	...

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