How To Create A Business That Is Founded On A “Productocracy” with MJ DeMarco

Welcome to this episode of the Real Fast Results podcast! MJ DeMarco is today’s special guest.  He is an author and successful business owner.  MJ wrote a book called The Millionaire Fastlane.   In it, he describes how he built a company, basically, from the ground up, and then he was able to sell this company for millions of dollars.

DeMarco is also the founder and administrator at TheFastlaneForum.com, which is a worldwide discussion forum that’s dedicated to the advancement of fast lane entrepreneurship.  This forum has over 130,000 visitors a month, and it is one of the leading destinations for startup entrepreneurs and offers discussions on how to grow a business.  What M.J. is really doing, overall, is calling out to folks that are tired of taking a “slow and steady” pace and the conventional ways of growing wealth and a business.  Welcome to the show M.J.

Promise: How to Found a Business on “Product-o-cracy”

First, thanks for having me.  I appreciate it.  I would say that the big result we’re looking for today is how to create a business that is founded on what I call a “product-o-cracy”.  That’s actually not discussed in Fastlane.  It’s discussed in the new book that I released, but a product-o-cracy allows business owners to grow virally.  It allows them to grow beyond a linear construct.  Essentially, it puts them in the driver’s seat to, pardon the phrase, “print money.”

A “product-o-cracy” is based upon a unique product offering/service that is not offered by someone else. Click To Tweet A good example of a way to look at this is that there’s always a restaurant in your neighborhood, or in your city, that’s always crowded, but they don’t advertise.  That’s the essence of a product-o-cracy.  It’s when you have a product that is compelled by word-of-mouth and there’s an expansion, so the need to advertise becomes secondary.

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A lot of entrepreneurs are not running product-o-cracies; they are running marketing firms.  So if they stop advertising, their business slowly starts to die.  That’s the difference between just a regular old business and a company that’s running a product-o-cracy.  A great example of a product-o-cracy is my book The Millionaire Fastlane.  I think that I must have spent $3,000 in total on promoting it since it was released seven or eight years ago.  The growth was not because I’m some kind of great marketer or because I hacked something.  The growth was because the product was good enough for people to recommend over and over, and that, in essence, is the product-o-cracy.

Download the Complete PDF Show Notes Free for this Episode

Learn

• Product-o-cracy
• Meritocracy
• Isolating the value array
• Value attributes
• Value skew
• Bring something to the market that is different
• Product
• Process
• Platform
• Using a forum

Download the Complete PDF Show Notes Free for this Episode

Connecting with MJ DeMarco

You can connect with me through TheFastlaneForum.com.  It’s a forum with hundreds of thousands of entrepreneurs.  Feel free to join.  It’s free!

Resources

The Millionaire Fastlane

Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship

TheFastlaneForum.com

Real Fast Results Community

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As always, go make results happen!

Filed in: Book Promotion • Content • Cool Tools • Marketing Strategies • Writing a book
Tagged with: authors • create a business • entrepreneurs • forum • MJ DeMarco • pocast • product • Product-o-cracy • successful business