Create Your Own 4-Hour Work Week
Serial Entrepreneur & Ultravagabond
Timothy Ferriss, author of the 4 Hour Work Week, is a self-described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now.
Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Ferriss has been called “Indiana Jones for the digital age”.
Ferriss’ free-wheeling book has been a #1 Wall Street Journal Best Seller, a #1 NY Times Best Seller, and a #1 BusinessWeek Bestseller.
Replace Obsolete Assumptions
His basic premise is that we need to replace outdated assumptions with the “Rules of the New Rich” and enjoy life now.
We home business owners need to replace these assumptions because they limit us and prevent us from enjoying life. In particular, we need to replace assumptions that waste our time and force us to live in a particular location. We’d like to be able to manage our businesses from anywhere, anytime.
Freeing our time and increasing our mobility are pathways to the lifestyle of the New Rich (NR).
Rules of the New Rich
According to Ferris, the “Rules of the New Rich” include the following:
- Retirement is Worst-Case Scenario Insurance
- Interest and Energy are Cyclical
- Less is Not Laziness
- The Timing Is Never Right
- Ask for Forgiveness, Not Permission
- Emphasize Strengths, Don’t Fix Weaknesses
- Things in Excess Become the Opposite
- Money Alone is Not the Solution
- Relative Income is More Important than Absolute Income
- Distress is Bad, Eustress is Good
The 4HWW Model
His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:
- Live like a millionaire
- Free time and automate income
- Outsource our lives to overseas virtual assistants for $5/hour
- Travel the world without quitting our jobs
- Eliminate 50% of our work in 48 hours
- Trade a long-haul career for short work bursts and mini-retirements
He uses the DEAL acronym to describe his model, where:
- D = Definition
- E = Elimination
- A = Automation
- L = Liberation
He encourages us to use “Dreamlining” to design our own luxurious lifestyles. We need to focus our current efforts on elimination, simplification and outsourcing if we want to find ourselves among the New Rich (NR).
Lifestyle Design (LD) incorporates elements of both art and science. Lifestyle Design (LD) relies heavily upon automation, i.e., building systems and processes that remove ourselves as bottlenecks. But never automate anything that can be eliminated, and never delegate anything that can be automated or simplified.
Carpe Diem!
Follow Ferriss’ guidelines and you’ll be able to recognize opportunities that others miss, and sieze them. Along the way, you’ll come to realize that having choices; i.e., the ability to choose, is the real power in life.
If you’ve ever wanted to work less and enjoy it more, read this book.
This book demonstrates that it is possible to realize our lifelong dreams - cheaper and easier than we had previously believed. I plan to implement many of his ideas into my own life.
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