Wednesday, September 2, 2009

The Four Hour Work Week, Tim Ferris

Posted by lea at 2:47 PM
You've gotta love this book, at least for the title alone. The idea is a goldmine – who doesn't want to work less hours and make more money? Tim Ferris manages to make it actually sound do-able. The Four Hour Work Week is packed with anecdotes, examples, exercises and step by step instructions on how to become the 'New Rich' - those who work minimal hours and extract maximum enjoyment from life.

There's a lot to be learned from this book, but the standout lessons for me were:

1. Apply the Pareto Principle (the 80/20 rule)
This applies to so many areas of lives – 80% of our results often come from 20% of our effort – keep doing the stuff that brings the big returns and eliminate the unproductive stuff.

2. Automate
One of the big thrusts of this book is to create a well-oiled machine that can operate even without your presence. If you're required to be on site constantly to keep it going, then it's exhausting and not a good use of your time. If you automate the process via outsourcing or advanced software or whatever, then you free your time and let the cash roll in with very little effort.

3. Set your goals and work backwards to achieve them
One of the exercises in the book asks you to write down in a table a list of all the things you want to be, do and have in 6 months, and the same for 12 months. Then you sit down and work backwards to figure out what you need to do in order to achieve those things, and you start doing them. Now.

This book is a manual of how to set up your own entrepreneurial project or free yourself within the confines of your current job. The practical advice, anecdotes and conversational language made it very easy and inspiring to read. The only thing that didn't work for me was the philosophising in the final section of the book, although I could see how some people might appreciate it.

The Four Hour Work Week is a good read for those wanting to break out of the 9-5, but even more, it's a pure winner for the author.

2 comments:

Stop Praying on September 3, 2009 at 3:16 AM said...

If you like Tim's book you should also read: "STOP PRAYING"
http://www.facebook.com/search/?q=stop+praying&init=quick#/pages/Stop-Praying/128055852525

STOP PRAYING is written to "help individuals who are fed up with a normal, go nowhere life," consists of a 21 day challenge--or discipline--meant to get the reader moving in a new direction, and quickly. It poses the question, "Do you think an almighty god would be happy if you spent all of your time sitting around, praying or kneeling? No, he would say that he gave you life and would ask what you did with it."

Like Rich Dad, Poor Dad; What Color is Your Parachute; The One-Minute Manager and Life’s Little Instruction Book, STOP PRAYING is an innovative and original book. And just like those titles, it is changes the lives of the people who read it.

Inez said...

In the middle of this book. I agree it does make you think, plan and do. I'm still skeptical about the whole 4-hour week. Until I see it happen, of course. But I do see the underlying message from the author, why wait for the right time? Many of us usually say, one day I will... So in that way this book is a winner to me. But I'm still only half way through. Hope ur enjoying the non-fictions as much as the fictions!

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