0

M. J. DeMarco: Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship Book Summary

DOWNLOAD THE PDF HERE UNSCRIPTED

★★★ Sign up to the Weekly Book Summary Newsletter by CLICKING HERE

★★★ Get any FREE audiobook of your choice by CLICKING HERE

★★★ View the Hottest Products of the month by CLICKING HERE

Is a sheep who drives a Mercedes to the slaughterhouse still a sheep?

I accept average advice from average people living average lives, can I expect to be anything but average?

In the Lambo, I am presumed rich and noteworthy; in the Toyota, I wait with the rest of the proletariat. Reality is ridiculously distorted.

Hyper-personality is a person’s public image, a facade projected by fame or social media, a carefully crafted mirage that does not represent the real, humanized version of the individual.

Money, the world’s dominant hyperreality, is a mutually shared belief that physical money (a stack of paper bills) or virtual digital money (a number on a computer screen) is valuable and that the person possessing it is equally valuable.

Underneath the SCRIPTED delusion is the idea that success can be bought at a mall, parked in a garage, or cashed on a Friday. Few realize that every dollar owed shortens the leash and tightens the collar around their neck.

The Slowlane is the presumption that decades of gainful employment circumscribed by thrifty living, tortuous saving, and regimented stock market investing will somehow make you a happy millionaire.

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all, in which case you have failed by default. ~ J.K. Rowling, Author

One of the greatest travesties in self-improvement is this notion of the “silver bullet,” a cherished macro-event — or “that one secret” that is error-proof, foolproof, and failure-proof.

When you finance a new Beemer for seventy-two months because you’re cash short (the event), you’re buying success instead of earning success (the process).

After awareness, the next step is realigning expectations: extraordinary results demand extraordinary efforts. That means give up the ghost and kill the shortcut search.

Success is simpler than you think: ax the shortcut, honor the process-principle, and do the necessary work.

What threatens your daily target? In order to hit your targets, identify what will stop you from achieving them. What impedes success and prevents real change?

Furthermore, students praised with participation trophies and “you are special” affirmations don’t do well later in education or in life. Their reaction toward challenge, equally disheartening. They readily admit cheating over studying. After failing, they simply look at someone else who did worse just to make themselves feel better. And in countless study after study, they flee from difficulty.

Bruce Tulgan, the author of Not Everyone Gets a Trophy (recommended read) mentions the deficiencies of the millennial generation as seen by today’s employers and recounts one employer’s assessment who said: “It’s very hard to give them negative feedback without crushing their egos…they walk in thinking they know more than they know.”

The Kaizen Principle is to endeavor to create tiny incremental improvements in your daily life with an aim for mastery over performance, while forsaking external comparisons, unless such comparisons inspire. The three key operands here are: 1) Tiny incremental improvements 2) mastery over performance and 3) external comparison.

Think of it this way. Debt, spending more than you earn, is consumption exceeding production. It isn’t money owed; it’s a production deficit.

Chasing a growth rate is a fool’s game, and the last time a 12 percent yield was offered by a financial firm, it was run by a guy now jailed at the Butner Federal Correctional Facility.

Askhole. That’s the name for someone who asks for advice and doesn’t take it.

Podium popping is the ineffective application of various success strategies cherry-picked from individuals who have a broadcast podium. Much like an addict pops pills, a podium popper will “pop” random bits of advice from famous personas spotlighted in the mainstream.

Survival spotlighting, which is similar to podium popping, is when you focus on the survivors of some process because they’re showcased, while overlooking those who are not, usually due to lack of visibility, and hence, you come to an inaccurate conclusion.

Everyone is passionate about one thing or another. The problem is no one interviews passionate failures. Failed passionites have no stage, no audience, no one salivating at their greatness.

In Chapter 18, I confessed that I’m an introvert. That means if you’re a random stranger and email me a coffee offer, I’ll decline. It’s not that I don’t like you; it’s just that I’d rather dive into a good book surrounded by solitude.

And this highlights the ultimate irony: the secret to success isn’t “do what you love” but “do what you hate.” How much pain and anxiety you’ll endure tells me how much success you’re willing to achieve.

 

The great happiness secret is autonomy. Freedom. The ability to feel in control of your life, to stockpile options, mobility, and whatever else you self-determine and endorse.

 

While an internal locus is proactive, an external locus is apathetic and reactive, like driftwood with a soul, a hapless casualty of life’s undercurrents.

Entrepreneurship is about problem-solving, creating convenience, satisfying desires, and becoming valuable.

 

You see, your job is to identify every value attribute in the global pool, with the explicit intent to uncover skewing opportunities. The more attributes skewed without disrupting other skews (say price), the more sales you will win.

 

The big irony of passive income is it’s anything but passive. Every single entrepreneur I know who enjoys passive income today exercised an extraordinary and committed process yesterday.

 

Neither 25 (bucks) nor 110 (units) is a large number. And yet these numbers are large enough to eek a millionaire pace in just one year.

 

The three-three rule says that if any of your investments, whether they be stocks or bonds, appreciates unrealized gains greater than or equal to three years in dividends in any three-month period, SELL and take the profits.

 

Shout out to https://medium.com/@martinbamford for doing the written summary

Leave a Reply

Scroll to top