Transport analogies run deep in MJ DeMarco’s book The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime. He talked about the types of lanes (“Sidewalk”, “Slowlane” and “Fastlane”) you can take towards wealth, and also the vehicle to wealth (personal development in mindsets, habits, learning). Next he moves on to the different roads to wealth, how it needs to follow 5 “commandments” of need, entry, control, scale, time.

Sharing them here as reference for myself, and for anyone who might find it useful. This is not a book review, just raw notes lifted directly from the book, with some minor edits, interpretations and categorisations of my own.

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Does your road lead to wealth? 5 Fastlane commandments:

Need -

Chase money and it will elude you. If you ignore it and focus on what attracts money, by solving needs and problems for customers, then you will attract money. 

Entry -

Higher entry barriers equate to stronger, more powerful roads to wealth and less need for exceptionality. If there’s weak entry, everyone can get on it, and exceptionalism required to overcome it. If “everyone is doing it”, it’s the best warning sign to overbought market of dumb money, to not do it, or to get out and stay out. If you want to live unlike everyone, you can’t be like everyone.

Control -

Control every aspect of your business. If you depend on others/another company for wealth (e.g. franchises, network marketing), you cede control and power for others to flip the kill switch on your wealth. Drive it yourself, don’t hitchhike.

Scale -

Scale is about leverage. How big is your market, your total pool of customers? If there’s a ceiling on units sold, then you handcuff leverage. Either increase magnitude (price) or reach (more customers).

Time -

Owning a business doesn’t guarantee wealth or detachment from time. If you’re married to your business, it becomes a job and prison. Wealth is also about freedom. Have a business that earns income independent of your time invested. Leverage automation.