Unscripted | MJ DeMarco | Cliff Note Books
“Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship” is a book by MJ DeMarco, published in 2016. The book focuses on the author’s personal experiences and insights as a self-made entrepreneur, providing a roadmap to financial freedom and fulfillment through entrepreneurship.
Summary:
“Unscripted” challenges the conventional wisdom that one should follow the scripted path of getting a good education, finding a stable job, and saving for retirement. Instead, DeMarco advocates for embracing an unscripted entrepreneurial journey to achieve financial freedom and personal fulfillment. The book is divided into five main sections, each exploring different aspects of the entrepreneurial journey.
Life Unscripted: This section introduces the concept of the “scripted life” and contrasts it with the idea of an “unscripted life.” DeMarco shares his personal story of breaking free from the scripted path and encourages readers to question the assumptions that society imposes on them.
The Unscripted Mindset: In this section, DeMarco delves into the psychology and mindset necessary for entrepreneurial success. He discusses the importance of having an internal locus of control, embracing the power of personal choice, and developing a growth mindset.
The Unscripted Roadmap: This part of the book outlines a practical roadmap for aspiring entrepreneurs to follow. DeMarco provides a framework for creating a successful business, including identifying opportunities, creating value, and scaling the business to achieve financial freedom.
Unscripted Strategy: In this section, DeMarco discusses various strategies for entrepreneurial success, including leveraging the power of the internet, focusing on long-term gains, and employing the concept of “fastlane entrepreneurship.”
Unscripted Execution: The final section of the book focuses on the execution of the unscripted entrepreneurial journey. DeMarco shares advice on overcoming obstacles, managing risks, and staying motivated throughout the process.
Overall, “Unscripted” is a motivational and informative guide for those looking to break away from the conventional path and pursue a fulfilling and financially rewarding entrepreneurial journey. DeMarco’s personal experiences and insights provide inspiration and practical advice for aspiring entrepreneurs seeking to create their own unscripted life.
QUOTES
“The moment you accept responsibility for everything in your life is the moment you gain the power to change anything in your life.”
“The dream is free. The hustle is sold separately.”
“When you solve needs on a massive scale, either in scale (more people) or in magnitude (more value), you get rich. In other words, to get rich, you must become a producer who serves the many.”
“An entrepreneur is not someone who owns a business; it’s someone who makes things happen.”
“The world doesn’t care about your problems; it only cares about your solutions.”
“Choices are the hinges of destiny. Poverty and wealth are consequences of daily habits and choices, not conditions.”
“To live an extraordinary life, you must resist an ordinary approach.”
“To become a millionaire, you must reject the script, the one that’s written by someone else, the one that makes others rich, the one that keeps you poor.”
“Money is the applause of a job well done, serving value to the marketplace.”
“Financial freedom isn’t about how much you make; it’s about how much you keep.”
AUTHOR
MJ DeMarco is an American entrepreneur, author, and speaker known for his expertise in business, financial freedom, and personal development. Born on April 29, 1969, in Chicago, Illinois, DeMarco grew up in a working-class family that struggled financially. This experience inspired him to seek alternative ways to achieve wealth and break free from the traditional career path.
DeMarco attended Northern Illinois University, where he earned a degree in finance. After graduating, he held various corporate jobs but quickly realized that the traditional career path was not for him. He decided to pursue entrepreneurship and founded several online businesses, including a limousine booking service called Limos.com. DeMarco eventually sold Limos.com, which provided him with the financial freedom he had been seeking.
MJ DeMarco is the author of two popular books on entrepreneurship and financial freedom: “The Millionaire Fastlane” (2010) and “Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship” (2016). Both books draw on DeMarco’s personal experiences and insights as a self-made entrepreneur to provide practical advice and motivation for readers looking to achieve wealth and fulfillment outside the traditional 9-to-5 career path.
In addition to his writing, DeMarco is also the founder of The Fastlane Forum, an online community for entrepreneurs and aspiring business owners. The forum is a platform for discussion, networking, and knowledge-sharing among like-minded individuals seeking financial freedom and personal success.
DeMarco continues to inspire and educate others through his writing, speaking engagements, and online presence. His unconventional approach to wealth-building and entrepreneurship resonates with many who seek a different path in life.
CRITICISMS
Although “Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship” has received positive reviews from many readers, some criticisms have emerged as well:
Writing style: Some readers have found DeMarco’s writing style to be informal, conversational, and occasionally repetitive. They feel that certain points could have been made more succinctly, and the book could have been shorter.
Overemphasis on the author’s success: Critics argue that the book focuses too much on DeMarco’s personal success story and his own journey, which might not be applicable or relatable to everyone.
Lack of actionable advice: Some readers feel that while the book offers valuable insights and motivation, it falls short in providing specific, actionable steps that readers can follow to achieve similar success.
Negativity toward traditional paths: Critics argue that the book can be overly dismissive or negative toward traditional career paths and educational systems. They believe that this approach might not resonate with everyone and could alienate readers who have different perspectives or experiences.
Overemphasis on financial success: Some readers feel that the book focuses too much on financial success as the ultimate goal and may not give enough attention to other aspects of life, such as personal fulfillment, relationships, and work-life balance.
It’s essential to note that these criticisms are subjective and based on individual reader opinions. Many people have found value in the book and appreciate its insights on breaking free from conventional paths and pursuing entrepreneurial success.
SUMMARIES
Chapter 1: The Scripted Life
In this chapter, DeMarco introduces the concept of the “scripted life,” which refers to the traditional path of obtaining a good education, securing a stable job, and saving for retirement. He argues that this scripted path often leads to mediocrity and financial struggles. DeMarco shares his personal story of growing up in a working-class family and how it inspired him to seek alternatives to the scripted life.
Chapter 2: The Gilded Rat Race
This chapter discusses the problems associated with the scripted life, such as the illusion of job security, limited financial growth, and lack of fulfillment. DeMarco emphasizes that the scripted path often leaves people trapped in a rat race, working to make others rich while struggling to make ends meet themselves.
Chapter 3: The Script’s Three Acts
DeMarco outlines the three acts of the scripted life: (1) the Sidewalk, where people live paycheck to paycheck, (2) the Slow Lane, where people save and invest for the long term, and (3) the Fast Lane, where entrepreneurs create wealth quickly by providing value to the market. He argues that the Fast Lane is the key to achieving financial freedom and escaping the scripted life.
Chapter 4: The Awakening
In this chapter, DeMarco shares his personal “awakening” moment when he realized that the scripted life was not for him. He encourages readers to question the assumptions and beliefs that society imposes on them and to consider alternative paths to success. This chapter sets the stage for the rest of the book, which delves into the mindset, strategies, and execution required for an “unscripted” entrepreneurial journey.
Chapter 5: Unscripted Mindset 1 – Life’s Steering Wheel
In this chapter, DeMarco highlights the importance of having an internal locus of control, meaning taking responsibility for your life and believing that your actions can shape your destiny.
Chapter 6: Unscripted Mindset 2 – Life’s Greatest Shortcut
DeMarco explains the power of personal choice and how making the right choices can significantly impact the course of one’s life.
Chapter 7: Unscripted Mindset 3 – The GROWTH Mindset
This chapter emphasizes the importance of developing a growth mindset, which involves embracing challenges, learning from setbacks, and viewing effort as a pathway to mastery.
Chapter 8: Unscripted Mindset 4 – The 7 Human Biases
DeMarco outlines seven human biases that can impede entrepreneurial success and offers strategies for overcoming them.
Chapter 9: Unscripted Mindset 5 – The Value Spectrum
In this chapter, DeMarco introduces the concept of the Value Spectrum, which illustrates how businesses create value for their customers and how entrepreneurs can identify opportunities for value creation.
Chapter 10: Unscripted Mindset 6 – The Producer-Consumer Dichotomy
DeMarco discusses the difference between being a producer (creating value for others) and a consumer (consuming value created by others) and emphasizes the importance of embracing a producer mindset for entrepreneurial success.
Chapter 11: Unscripted Mindset 7 – The Action-Faking Fallacy
This chapter warns against “action-faking,” which involves taking actions that give the illusion of progress without actually moving closer to one’s goals.
Chapter 12: Unscripted Mindset 8 – The Business of Change
DeMarco explains that successful entrepreneurs are in the business of creating positive change in people’s lives, and businesses should focus on solving problems or addressing needs.
Chapter 13: Unscripted Mindset 9 – The Five Commandments
In this chapter, DeMarco introduces the Five Commandments of Unscripted Entrepreneurship: Need, Entry, Control, Scale, and Time. These principles form a framework for creating a successful business.
Chapter 14: Unscripted Mindset 10 – The Power of Expectancy
DeMarco discusses the power of expectancy, the belief that your efforts will lead to desired outcomes, and how this mindset can increase the likelihood of success.
Chapter 15: Unscripted Mindset 11 – The Pursuit of Happiness
This chapter explores the relationship between financial success and personal happiness and argues that entrepreneurs should strive for both material wealth and personal fulfillment.
Chapter 16: Unscripted Mindset 12 – The 3Bs: Belief, Bullsh*t, and Bad Advice
DeMarco cautions against blindly following conventional wisdom or advice from others and encourages readers to question beliefs that could hinder their entrepreneurial journey.
Chapter 17: Unscripted Mindset 13 – The Law of Effection
In this chapter, DeMarco introduces the Law of Effection, which states that the more lives you positively affect in scale or magnitude, the more money you make.
Chapter 18: The Roadmap’s Core
DeMarco presents the core principles of the Unscripted Roadmap, which include the Five Commandments of Entrepreneurship (Need, Entry, Control, Scale, and Time) and the Law of Effection.
Chapter 19: Commandment 1 – Need
This chapter emphasizes the importance of building a business based on market needs and providing real value to customers.
Chapter 20: Commandment 2 – Entry
DeMarco discusses the Entry Commandment, which states that the more difficult it is to enter a market, the more likely it is to provide significant profits and long-term success.
Chapter 21: Commandment 3 – Control
This chapter explores the importance of having control over your business, its assets, and its revenue streams in order to maximize profitability and minimize risk.
Chapter 22: Commandment 4 – Scale
DeMarco explains the importance of creating a scalable business model, which allows for growth and the potential to reach a large audience.
Chapter 23: Commandment 5 – Time
In this chapter, DeMarco highlights the importance of building a business that can eventually generate passive income and operate independently of the entrepreneur’s time.
Chapter 24: The Law of Effection Revisited
DeMarco revisits the Law of Effection, emphasizing the relationship between the number of lives positively affected by a business and the amount of money the entrepreneur can make.
Chapter 25: The Roadmap’s Tollbooth
This chapter discusses the concept of creating a “tollbooth” in your business, which involves capturing a small portion of the value you create for customers and turning it into revenue.
Chapter 26: The Roadmap’s Fastlane
DeMarco explains the Fastlane concept, which entails building a business that can rapidly generate wealth by providing significant value to a large audience.
Chapter 27: The Roadmap’s Slowlane
In this chapter, DeMarco contrasts the Slowlane approach, which involves a more conservative, long-term investment strategy, with the Fastlane approach discussed in the previous chapter.
Chapter 28: The Roadmap’s Sidewalk
DeMarco describes the Sidewalk mentality, which is characterized by living paycheck to paycheck, poor financial habits, and a lack of long-term planning.
Chapter 29: The Roadmap’s Hierarchy of Needs
This chapter introduces a hierarchy of needs for entrepreneurs, which includes basic needs, psychological needs, and self-actualization needs.
Chapter 30: The Roadmap’s Transcendence
DeMarco discusses the concept of transcending the need for money, which involves achieving financial freedom and being able to focus on personal growth and fulfillment.
Chapter 31: The Roadmap’s Wall of Wealth
In this chapter, DeMarco presents a metaphorical “wall of wealth” that entrepreneurs must climb to achieve financial freedom and success.
Chapter 32: The Roadmap’s Money System
DeMarco explains the importance of having a money management system in place to ensure financial stability and long-term wealth accumulation.
Chapter 33: The Roadmap’s Ten Distinctions
This chapter provides ten distinctions between scripted and unscripted entrepreneurs, highlighting the differences in mindset, strategy, and execution.
Chapter 34: The Roadmap’s Wrap-Up
DeMarco concludes Section 3 by summarizing the main concepts of the Unscripted Roadmap and emphasizing the importance of adopting an unscripted mindset and following the roadmap to achieve entrepreneurial success.
Chapter 35: Unscripted Life 1 – Life’s Five Pillars
DeMarco introduces the five pillars of a successful and fulfilling life: Health, Wealth, Relationships, Purpose, and Personal Growth. He emphasizes the importance of maintaining balance among these areas for overall well-being.
Chapter 36: Unscripted Life 2 – The Circle of Control
This chapter focuses on the Circle of Control, a concept that encourages individuals to focus on what they can control in their lives, rather than dwelling on external factors beyond their control.
Chapter 37: Unscripted Life 3 – The Theory of Constraints
DeMarco discusses the Theory of Constraints, which suggests that individuals should identify and address the most significant barriers or limitations in their lives in order to achieve their goals.
Chapter 38: Unscripted Life 4 – The Tenets of Happiness
In this chapter, DeMarco explores the key factors that contribute to happiness, including gratitude, mindfulness, and strong social connections. He provides practical advice on how to cultivate these qualities to enhance overall well-being.
Chapter 39: Unscripted Life 5 – The Three P’s
DeMarco introduces the Three P’s – Passion, Purpose, and Proficiency – as essential components of a fulfilling life. He encourages readers to discover their passions, align them with a meaningful purpose, and develop the skills necessary for success.
Chapter 40: Unscripted Life 6 – The Power of Giving
This chapter highlights the importance of giving back, whether through charitable donations, volunteering, or other forms of philanthropy. DeMarco argues that contributing to the well-being of others can enhance one’s own sense of purpose and satisfaction.
Chapter 41: Unscripted Life 7 – The Unscripted Epilogue
DeMarco concludes the book by reiterating the importance of living an unscripted life, embracing the entrepreneurial mindset, and pursuing financial freedom. He urges readers to take control of their lives and break free from conventional paths to achieve lasting success and fulfillment.
Chapter 42: UNSCRIPTED Execution: The Roadmap Begins
DeMarco introduces the Unscripted Execution section and explains how the chapters in this part will help readers create a roadmap for their entrepreneurial journey.
Chapter 43: The S.E.C. Trilogy
In this chapter, DeMarco emphasizes the importance of the S.E.C. Trilogy, which stands for Scale, Entry, and Control. These are the three essential factors in launching a successful business, and the author explains how to leverage them effectively.
Chapter 44: The Commandment of Need
DeMarco introduces the first commandment, which focuses on fulfilling a market need. He explains how identifying and satisfying an unmet need in the market can lead to a successful and profitable business.
Chapter 45: The Commandment of Entry
This chapter deals with the second commandment, which revolves around creating barriers to entry. DeMarco explains how making it difficult for competitors to enter the market can help protect and solidify your business position.
Chapter 46: The Commandment of Control
DeMarco presents the third commandment, which emphasizes the importance of maintaining control over your business. He discusses strategies for ensuring that you retain decision-making authority and control over your company’s direction.
Chapter 47: The Commandment of Scale
The fourth commandment, focusing on scale, is introduced in this chapter. DeMarco explains how businesses can grow exponentially by leveraging technology, systems, and processes that allow for scaling.
Chapter 48: The Commandment of Time
In this chapter, DeMarco discusses the fifth commandment, which relates to the concept of time. He emphasizes the importance of creating a business that can generate income passively and free up time for the entrepreneur.
Chapter 49: The Millionaire Fastlane Revisited
DeMarco revisits concepts from his previous book, “The Millionaire Fastlane,” and reiterates the importance of the Fastlane principles for achieving financial success.
Chapter 50: The Grind
This chapter discusses “The Grind,” the inevitable challenges and setbacks that entrepreneurs face during their journey. DeMarco shares advice on how to push through these obstacles and stay committed to your goals.
Chapter 51: The Unscripted Execution Wrap-Up
DeMarco wraps up the Unscripted Execution section by summarizing the key points and encouraging readers to take action on the principles outlined in the book.
Chapter 52: The 10-Minute Business Plan
In the final chapter, DeMarco provides a quick 10-minute business plan template to help readers get started on their entrepreneurial journey. This plan is designed to streamline the process of creating a roadmap for a successful business.