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5 Takeaways from “Unscripted: The Great Rat-Race Escape”

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by

kingmarine
in

“Unscripted: The Great Rat-Race Escape” by MJ DeMarco is a fascinating trip down the path to being an entrepreneur and escaping the rat race.

This book is long; however, it is an all-in-one guide to starting your journey into entrepreneurship. More importantly, it gives you the “why” and “how” to escape the rat race.

Escaping the rat race is all about numbers. You need to generate large amounts of cash to put into your money system (stock market) to achieve financial independence.

Your business can generate asymmetrical returns, which move much faster than a linear progression job. Starting the right company can accelerate your savings and net worth, but you need the right mindset and work ethic.

1) If you follow everyone else’s life, you will get what everyone else has. To get different results, you must think and act differently. Most people will never start a business.

2) If a man has a tolerable job and is comfortable, it will be difficult for him to change. To change, one must desire the results more than their current situation. You must acquire determination and persistence to run a business.

3) The rat race is almost impossible to escape. Once you are inside the daily grind, changing your perspective is near impossible. You must take a step back and evaluate the most elusive element in life—time (and the value of time).

4) There are different types of freedom (lifestyle, budget, experiential, mobile, economic), and moving down the Fastlane can help you achieve them. Living in the rat race doesn’t give you a chance to accomplish these freedoms, except after a long time in the workforce (40+ years).

5) Reverse engineer your 10-year goal into actionable steps to create a plan (“Planasy”). Without these steps, you are dreaming. Making these steps will have a much better outcome in business and life.

Your business has to provide value. There are five types of value (true, utility, surplus, relative, and perceived). Knowing where your business fits into these segments is vital to your long-term success.

Eventually, you want to provide enough value to earn word-of-mouth advertising among your customers. You have to skew the value in the customer’s favor to achieve this remarkable phenomenon.

Overall, starting a business that is not a job is challenging. You want to start a business that eventually allows you to scale your time to a healthy work-life balance.

However, the first few years may be skewed towards long hours and unhealthy obsession. As long as you know your reason and “endstate,” your hard work will pay off in the end. This is an excellent book for anyone who feels stuck in the rat race and needs a path forward. Good Luck!

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