The 4-Hour Workweek

Title:	The 4-Hour Workweek
Author:	Timothy Ferris
Published:	2009
Genre:	Entrepreneurship

Review: The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich is anything but a hypothetical work. You will scarcely ever locate any unadulterated hypothesis in the book. The volume is an accumulation of individual encounters, exercises, and bits of knowledge that the creator had amid his own voyage. In that capacity, it fills in as a down to earth direct with a great deal of applicable proposals. You will discover a progression of systems, how-to guides, slip-ups to keep away from, and numerous different kinds of substance that intrigue to the handy peruser.

The book is organized in four areas: Definition, Elimination, Automation, and Liberation (DEAL, in short). Remember this abbreviation, as it is the foundation for recollecting the lessons of the creator.

Tim Ferriss begins by reclassifying the idea of being rich and marking the new thought the “New Rich”. In his point of view, New Riches are not individuals who profit, but rather individuals who carry on with the existence they would live whether they had a great deal of cash. The idea may sound confounding, yet it is in reality extremely intriguing.

In the second section, Rules that Change the Rules: Everything Popular Is Wrong, Ferriss characterizes ten critical guidelines of the New Rich attitude, among which the accompanying five truly grabbed my eye:

1. Interest and energy are cyclical. Our body and mind need periods of rest in between productive journeys in order to reach maximum productivity. By defining relaxing periods, we are able to increase our productivity while dedicating fewer hours to the tasks at hand.
2. Less is not laziness. Being productive is very different from being busy. Bruce Lee once said: “It is not daily increase, but daily decrease. The height of cultivation always runs on simplicity.”
3. Ask for forgiveness, not permission. How many of us let potentially life-changing opportunities simply pass by because we are too afraid of taking the risk? Ferriss gives us a great advice: take calculated risks, and if things go wrong, ask for forgiveness. Permission is much harder to get than forgiveness, so focus on the latter.
4. Things in excess become their opposite. The goal of The 4-Hour Workweek is not to create an excessive amount of idle time. The ultimate goal of the book is to set you free from what you have to do and empower you with the freedom of doing what you want to do.
5. Money alone is not the solution. Money is a proxy in the sense that it is only useful if it actually brings you to a happier state. Having money just for the sake of having money will not make you happier, so forget about accumulating wealth and start focusing on getting the most out of your cash.

Time to Move to Practice:

While the hypothesis sounds great and empowering, you will get no place on the off chance that you don’t really actualize it. The 4-Hour Workweek proposes a handy system for you to execute what is designated “dreamlining”: putting a course of events on your fantasies to persuade you to do the change. In the event that you require any assistance with characterizing your timetable, Ferriss gives a free dreamlining report that can be found here.

1. Start by creating a timeline for the next 6 and 12 months. For each of them, write down five things you want to have, five things you want to be, and five things you want to do. This will give you 15 items per timeline.
2. Once you have the list, circle the four most important ones, the ones that you believe would bring the most happiness and change to your life.
3. Now it is time to get down to research and funding. How much does each of these four items cost per month? Write this down in your plan.
4. Once you have the net monthly costs, add them all up, multiply by 1.3 to have some safety and savings margin, and divide everything by 30 to get your required daily income.
5. Once you know how much you need to earn, it is time to define what you need to do. Write down the three most important steps to achieve your 6-month timeline and start doing them now.

A major confusion we as a whole convey to a more prominent or lesser degree is that the more we do, the more profitable we are. This couldn’t possibly be more off-base, and profitability is an altogether different thing from being occupied. Indeed, an individual who is too occupied is probably going to be inefficient.

This is the thing that the Step II of The 4-Hour Workweek is tied in with: concentrating on your most productive exercises and customers, and taking out the superfluous work. For that, Ferriss resorts to a very outstanding idea in financial matters: the Pareto Principle. In basic terms, the Pareto Principle discloses to us that, in any field of undertaking, 20% of activities are in charge of 80% of results. This is legitimate for both the positive and the negative measurements: 20% of your clients are in charge of 80% of your benefits, and 20% of your wasteful aspects are in charge of 80% of your misfortunes.

This can likewise be connected to our day by day life. To enable you to distinguish the “20% undertakings”, think about asking these two inquiries:

• Which 20% of exercises bring 80% of my issues and concerns?
• Which 20% of exercises bring 80% of my joy and wanted outcomes?

The author additionally mentions information over-burden. The best solution for this overburden is additionally the least complex: kill them. Dispense with the TV, get some distance from the news, take a glance at your messages just on more than one occasion for every day.

Learning Outcomes:

Time Management

WinningGo Thoughts:

‘Working smartly’ is the new ‘working hard’.