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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI170: The Millionaire Fastlane w/ MJ DeMarco

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 19 May 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: 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. Robert and Clay’s tool for picking stock winners and managing our portfolios: TIP Finance. Related episode: MI069: Practical Strategies For Starting A Business W/ Steve Hoffman. Related episode: MI071: How To Become A Successful Entrepreneur w/ Sean Castrina. Get a FREE audiobook from Audible. Check out our Investing Starter Packs about business and finance. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI   Read this episode’s transcript and full show notes on our website. Connect with MJ: Books | LinkedIn | YouTube  Connect with Clay: Twitter HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  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 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

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.8

The challenge in that particular business was no longer there.

0:06.2

It wasn't exciting.

0:07.6

And also, this was right before Uber started getting into MySpace.

0:12.2

And I recognized that I needed a significant technological injection into the company, along with multiple more employees. I mentioned I only had five employees.

0:26.7

On today's episode, I'm joined by M.J. DeMarco. M.J. is an entrepreneur and international

0:32.4

bestselling author of The Millionaire Fastlane, Unscripted, and The Great Rat Race Escape.

0:38.2

He's also the founder of the Fastlane Forum, which is a worldwide forum for entrepreneurs

0:42.3

with over 70,000 users and nearly 1 million contributions.

0:46.8

During this conversation, we uncover why MJ chose entrepreneurship as his path to building

0:51.8

wealth, his journey in building his own successful business,

0:55.3

how he knew it was time to sell what he had built, why following your passion is bad advice

1:00.5

when starting a business, what MJ's definition of wealth is, ways in which entrepreneurs

1:06.0

can validate their business ideas, and much more. With that, I hope you enjoy today's episode with the one and only, M.J. DeMarco.

1:14.7

You're listening to Millennial Investing by the Investors Podcast Network,

1:18.7

where your hosts, Robert Leonard and Clay Fink, interview successful entrepreneurs, business

1:24.2

leaders and investors to help educate and inspire the millennial generation.

1:35.0

Welcome to the millennial investing podcast. I'm your host, Clay Fink. And on today's episode,

1:39.9

I'm joined by MJ DeMarco. M.J. is a pleasure having you on. Hey, Clay, great to be here. Thanks for the invite. I listened to your book, The Millionaire Fast Lane, a couple of times a few years back, and really enjoyed your message and thought it was a pretty cool thing that you were the one actually reading the book to me. I just really liked that aspect of it. And I had the chance

2:01.7

to read through your physical copy as well over the past few days in preparation for this interview.

2:05.7

And just a fantastic book for anyone that just wants to learn how to fast track their path

2:11.6

to building lasting wealth. Now, MJ, conventional wisdom tells us that you need to invest

...

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