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Plan Your Life Around a 4-Hour Workweek
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. Some people consider Ferriss to be an “Indiana Jones for the digital age”.
This challenging book has been number one on three different best seller lists: Wall Street Journal, NY Times and BusinessWeek.
Replace Obsolete Assumptions
His basic premise is that we need to replace many, if not most, of our current assumptions and apply what he calls the “Rules of the New Rich”.
Online business owners need to replace the limiting assumptions that prevent us from enjoying life now. 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.
We need to value our time and our mobility as we learn to join the ranks 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).
The underlying art and science is called Lifestyle Design (LD). Lifestyle Design (LD) relies heavily upon automation, i.e., creating systems and processes that eliminate ourselves as bottlenecks. But never automate anything that can be eliminated, and never delegate anything that can be automated or simplified.
Carpe Diem!
This book shows how to recognize and seize opportunities that others miss. Having options; i.e., choice gives us real power in life.
The 4-Hour Work Week is one of the most compelling and challenging books I’ve read in a long time.
Ferriss has shown us that it is possible to realize our dreams – faster and cheaper than we ever thought we could. I plan to implement many of his ideas into my own life.
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