The 4 – Hour Workweek, by Tim Ferriss, A Review
The 4 – Hour Workweek, by Tim Ferriss was written back in 2007. It was a revolutionary concept that Tim used to free himself up from the daily corporate grind. It allowed him to travel when and where he wanted, and at the same time produce an income. How many of you would like to travel and still have an income? I bet there are hundreds of you out there! During the course of reading this review, remember this phrase, “hope for the best, but plan for the worst.”
The New Rich…
The New Rich is a group of people who want to design their own lifestyle. The idea is to create a freedom for you of time and location. Going to college and getting a degree no longer guarantees you a job or any security. Corporate jobs are getting harder to find, and even if you do, most don’t offer any security. Competition is fierce, and and more and more companies are outsourcing. The currency of The new Rich is time and being mobile, not stuck in a cubicle or office all day. They are designing their own lifestyle. The New Rich are able to live like they have a million dollars, even though they don’t. Their goal is also “fun and profit.”
How Can I Reinvent Myself…?
This is the step-by-step process that Tim uses.
D for Definition.
This will replace your self-defeating assumptions and show you the concepts of relative wealth and eustress.
E for Elimination…
How to turn 12 hour days into two hour days, and how to increase your per-hour results ten times more using New Rich techniques. How to develop a low-information diet, and ignore the unimportant.
A for Automation…
How to put cash flow on autopilot by using geographic arbitrage, outsourcing and rules of non-decision. This will produce income.
L for Liberation…
This is a concept of mini-retirements. How to break the bond of being in a single location. You are looking for mobility.
Find a market before designing a product is smarter than the reverse.
Do You Want To Work For Yourself…?
When you work for yourself, do you really have free time? The New Rich believe that you need others to work for you. This will allow you to get the maximum effect for the minimum work for you.
Do you want to retire early or young? This one is a real thought provoker!
Are you looking for your own online business?
If so, I would like to invite you to the next iPro webinar, this Monday 11/21/2106, 6 PM EST– this webinar will show you how you can achieve financial freedom.
The Freedom Multiplier…
This is Tim’s formula.
Money is multiplied in practical value depending on the number of “W’s” you control in your life: what you do, when you do it, where you do it. The ability to choose, is the real power. Make more money by doing half of what you are doing now. By working only when you are the most effective, life is both more productive and also more enjoyable. You must focus on being productive and not just busy.
Overcoming Fear Of Failure..
Most of us have the fear of failure. Tim says you take those things you fear and set a goal to act on that fear everyday. For example, you have a fear of public speaking. Everyday do something that will allow you to speak in front of someone, even if it is only one person. The more you do it, the easier it will become. This will work for any fear. You just have to do it on a regular basis. Many people say that to get success, you need to fail faster! The more you fail, the more you learn.
Are You Being Effective…?
Being effective is doing things that will get you closer to your goals. Doing something unimportant does not make it important. Something that requires a lot of time does not make it important.
This is also known as the “80 / 20 Principle.” In other words, 80% of a businesses profits will come from 20% of their customers. You can ask any business owner and they will agree with this. By using this principle in your business, you can weed out your problem and non-performing customers, and just focus on the 20% that you are receiving your revenue from. Just imagine what your customers would think if you devoted more time to their needs?
A task will swell in (perceived) importance and complexity in relation to the time allotted for it’s completion. In other words, the end product of the shorter deadline is almost inevitably of equal or higher quality due to greater focus. For greater productivity, limit tasks to the important, in order to shorten work time (80/20). Shorten work time to limit tasks to the important (Parkinson’s Law).
To Be More Productive…
In order to stay more productive, ask yourself: “am I being productive or just active?”, “am I inventing things to do to avoid the important?” Remember Pareto’s Law and Parkinson’s Law. You want to eliminate a negative effect on your income. Always do your important tasks first! Focus is more important than multi-tasking. Shorten schedules and deadlines to necessitate focused action instead of deliberation and procrastination.
This Is Just The Beginning…
I have just touched on some highlights in this review, There is so much more in Tim’s book. He tells you how he started on his journey, his failures and success, and he gives a great list of resources that he uses to implement his strategy. This book will give you a complete paradigm shift in your thinking about work. I would recommend that you purchase it and read it.
To Your Success,
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