Episode 018: MJ DeMarco – Raising Kids with an Entrepreneurial Mindset

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MJ DeMarco is a semi-retired entrepreneur, investor, self-made multimillionaire and international best-selling author of The Millionaire Fastlane and Unscripted, Life Liberty, and the Pursuit of Entrepreneurship.
He currently is the founder of Viperion Corporation, a small publishing company and The Fastlane Forum, a worldwide  global business community with over 40,000 entrepreneurs registered and over 500,000  contributions.

 

Update: For some reason, the last few minutes of the recording was cut off, so I re-uploaded the episode to include the conclusion of the episode.  Thank you for your patience!

You’ll notice this episode is a bit longer than the usual length of my podcast. I normally keep my discussions under forty-five minutes! I guess that just shows how important this discussion is to me.  I don’t know if I did the topic justice, but I hope that you will take the time to listen to the whole episode because there are some gems about how to be open-minded about the way our culture at large shapes our mindsets around education, finances, and our day-to-day norms.

Raising our children to be, and becoming entrepreneurial-minded ourselves, begins with education, namely becoming cognizant of the biases and constructs that make up the “script” or what I like to call the “conveyor belt.”

When I read MJ’s books, I felt like I had just seen the Matrix, and I had just taken the “red pill” and woke up! While it is a good idea to budget, and stay out of debt and be responsible, MJ goes into such detail on how to truly be financially free that it woke me up to a whole new concept of what freedom really is.

Financial freedom comes from creating relative value by creating a system that is duplicatable that exists outside of your time, designed to pay you time and money.  These systems can be physical products, digital products, or anything that can be perpetuated or duplicated that you invent or create that brings value and impact to the world around you.

These systems aren’t necessarily going to be something that you are passionate about.  Being an entrepreneur requires work and investing a great deal of time and energy especially at the beginning stages of development.  However, the amount of time to create an entrepreneurial system may take five to ten years, as opposed to the forty to fifty years required to create financial “freedom” in a corporate setting.

Winning inspires passion.  When you start seeing the results of your efforts, you will feel passionate about the work you are putting in to create your future.

Even if you create something that is challenging or difficult to create, you do it knowing that you are creating a wealth system that will eventually lead to freedom.

I talk with MJ about how we can raise our kids to be aware of the biases in our educational systems, in our political systems, in our media (briefly), and how we can teach our kids that they have options. We don’t have to default to following the “script” that MJ talks about in his books.  I talk about unschooling, but I don’t want you to think that homeschooling or unschooling is the only way to prepare our kids to be aware of these social constructs.  Just teaching them how to recognize the messages of the script will help them to become more free to choose their lifestyle, and to realize there are options for their education and careers.

We are so conditioned to think that going to a good college, having degrees, and getting a good job is the only way to success.  But, what if there were other ways that didn’t involve a crazy amount of student debt, or trading your weekdays for a weekend? Technology has made it easier to get education in more unconventional ways, and has made becoming an entrepreneur easier in a lot of ways.

Like MJ said, the entrepreneurial lifestyle is not for everyone.  It does take a lot of work, and involves risk.  But, for those seeking to get away from a corporate lifestyle or explore options for creating a “side hustle” this is the place to find the information you need!

Where you can find MJ:

The Fastlane Forum

Twitter

Instagram

Facebook

Other resources in this episode (contains affiliate links):

MJ’s Books:

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime;

Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship

Also Mentioned:

You are Not So Smart by David McRaney

Dumbing Us Down by John Taylor Gatto

Weapons of Mass Instruction by John Taylor Gatto

Books by John Holt

Mindset by Carol Dweck

Grit by Angela Duckworth

Daring Greatly by Brené Brown

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