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. Some people consider Ferriss to be an “Indiana Jones for the digital age”.
This challenging 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His basic premise is that we need to fill the vacuum created by replacing outdated assumptions with the “Rules of the New Rich”.
Entrepreneurs need to replace limiting assumptions and learn to enjoy life now. We should replace limiting assumptions that waste our time and force us to live in a particular location.
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).
The Lifestyle Design (LD) process is both an art and a science. Lifestyle Design (LD) relies heavily upon automation, i.e., creating systems and processes that remove ourselves as bottlenecks. Don’t automate something that can be eliminated, and don’t delegate anything that can be automated or simplified.
Carpe Diem!
Use this book as a roadmap taking you on a journey to opportunities that others will never see. You’ll come to realize that having choice; i.e., our choice is our real power.
Personally, I found this book very easy to read – and very compelling.
Our courage and self-confidence, we can realize our dreams quicker and easier than we ever expected. I plan to implement many of his ideas into my own life.
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Tags: 4 hour work week, 4 hour workweek, automation, four hour work week, leverage, millionaire lifestyle, Online Success for Beginners, OSFB, Timothy Ferriss