The 4-Hour Workweek - Tim Ferriss

The 4-Hour Workweek - Tim Ferriss

Do you want to take a vacation several times a year as well as have more free time and still increase your annual income? Check these tips!

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Do you want to work only four hours a week, from anywhere in the world, and receive in one month what you currently receive in a year?

If yes, this book "The 4-Hour Workweek" will give you the right tips to do so. It sounds crazy, even utopia, don't you think? But reducing your workday to almost nothing is not impossible as you think.

The author, Tim Ferriss, offers some advice for you to implement in your routine, that will reduce your work hours and get you prepared to have more time and independence in your life.

Are you curious? Discover this new way of living!

About the book "The 4-Hour Workweek"

The book "The 4-Hour Workweek", 2007, shows a new mentality of people who emancipated themselves from the work routine and how the secrets of the New Rich work.

Instead of working hard for the rest of your days in an office, waiting for retirement, start enjoying life today, using a change of mindset.

Start by setting bold goals for yourself and focus your efforts on 20% of the most impactful tasks. Then get rid of the office by showing that you are more efficient working from home, stop going to useless meetings, and get out of the habit of constantly checking your inbox.

In the book, Tim subdivides his idea into 4 steps, called the DEAL Formula, which the reader must execute to apply this knowledge in life.

About the Author Tim Ferriss

Tim Ferriss is a successful investor and consultant for technology startups. He has been involved in setting up companies such as Uber, Facebook and Alibaba. He is also the creator of a renowned podcast series, "The Tim Ferriss Show".

He has published other books, the main ones being "4 Hours for the Body" (2010), "Tools of the Titans" (2016) and "Tribe of Mentors" (2017).

In addition, Tim maintains his blog "tim. blog" where you can access the podcast and content about entrepreneurship and productivity.

For whom is this book indicated?

The book "The 4-Hour Workweek" is indicated for those people who are tired of weekly routines or dream with a lifestyle of travel and leisure.

Also, it can be a helper for those who don't know how to reach their dreams yet.

Main ideas of the book "The 4-Hour Workweek"

  • The DEAL formula (Definition, Elimination, Automation and Liberation);
  • Define your goals. Decide what is most important. Draw goals. Ask yourself: "What do I really want?";
  • Eliminate distractions that take time. Learn how to be effective. Focus on the top 20% and ignore the 80% that do not help. Learn to say "no";
  • Automate your cash flow to increase your income. Develop your own business that can be managed from wherever you want;
  • Free yourself of traditional expectations. Develop your work in a way that you have time and mobility.

Download the "The 4-Hour Workweek" Book Summary in PDF for free

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[Book Summary] The 4-Hour Workweek - Tim Ferriss

Overview: First Principle - The New Rich

In the year of 2004, the author suffered an exhaustion due to overwork and was forced to take a gap year. During this time, he traveled the world and realized that it is possible to play a lucrative business with the least effort.

With this idea, he entered the culture of the "New Rich", characterized by the high mobility and financial freedom.

The new rich are not stuck to their place of work, what allows them to travel always and keep full control of their time.

Unlike the so-called "little nobility," they did not inherit their fortune but built it through the automation of their income and the development of a popular product.

The new rich have realized that the best time to reach their dreams is now. They know that beyond the things that people normally associate with millionaires - travel, cars, hobbies - there are two more fundamental components: more freedom and free time.

Thinking about it, they assume that you do not need to be a millionaire to have these two components and go beyond. They claim that they can be achieved with relative ease.

According to the book "The 4-Hour Workweek" flexibility and mobility are crucial elements for a luxurious life. They are prerequisites for the ability to do what you want, whenever you want.

The point is that none of these elements can be achieved with a 40-hour workweek.

Overview: Step I - D is for Definition

According to the author Tim Ferriss, you should escape the idea of "living to work". Instead, you must "work to live".

Initially, you should change your approach. For example, regarding retirement: it should not be seen as a light at the end of the tunnel or as a "promised day" to have freedom.

Actually, you should work more effectively and enjoy the benefits of your effort while you still are young.

For this, you need to keep in mind what you really want. Do the exercise of imagining what you would be doing in your life if you didn't have to work: think about your big dream.

Now, define your biggest nightmare well. What is the worst thing that can happen if you follow your dream?

Finally, compare your big dream with your biggest nightmare. Is this possible situation bad enough to make you abandon your dream?

Overview: Step II - E is for Elimination

In the author's view in today's world, there are many distractions that decrease our work performance.

Therefore, it is important to use techniques to eliminate most mundane activities that fill out your working life. According to the book "The 4-Hour Workweek" these are:

  • Plan your tomorrow's to-do list before the end of today. When you add an item to the list, ask yourself whether you would consider it as a productive day if you performed only that task. If not, this item is not important;
  • Do not perform multiple tasks at the same time. Focus only on what is most important at the moment;
  • Force yourself to end your day at 4pm and your week on Thursday. Even if you have to go to work on Friday, go and do something that will bring you personal development;
  • Try to stay a week without news from the media. Avoid television and any kind of reading other than fiction (newspapers, magazines, internet). At the end of the week you will realize that the overload of information was causing you a slight attention deficit;
  • Check your email only twice a day. The combination of this habit with the one to avoid multiple tasks can greatly reduce time lost to unimportant emails;
  • Never go to a meeting that doesn't have a clear script to follow. Whenever someone suggests you a meeting, ask for the scope. If it does not exist, ask what is the importance of the meeting;
  • Do not be afraid to put a "do not disturb" sign on your door. When you are doing something and you are interrupted at all times by other people, you are performing more than one task.

Overview: Step III - A is for Automation

At this point, Tim Ferriss advises you to find the "muse," that is, a business that you know, you are willing to try, and it has a great demand.

To determine this, you should make a brainstorm about the products and services of that particular market.

In addition, you can pinpoint trends with simple searches on AdWords or even the most wanted items on eBay.

Thinking about the automation part, you need to identify possible tasks to be performed by another person or technology. Whenever possible, make use of technology, such as in email filters, for example.

When it is not possible, delegate these less important activities to others. Consider hiring a Virtual Assistant to assist you in this process.

Overview: Step IV - L is for Liberation

Finally, this last step is the implementation of the previous steps.

This way, the author uses the dream defined in the first part, the higher productivity made possible by step 2, and the income from step 3 to create the 4-hour workweek.

The first step is to be able to change your job so that you can work remotely. For this, you can ask your boss to work from home and, on those days, strive to produce twice as much of what you get going to the workplace.

That way, your superior will have no choice but to give you more time out of the office as long as you continue to be effective.

This also allows you to quit your current job and build new opportunities (as defined in step 3).

And what to do in free time? The main point of the book is that the most valuable resource of our lives is time, not money. So it is not worth spending so much time working to make money without being able to enjoy everything it provides.

What do other authors say about it?

The Brazilian businessman Flávio Augusto, in "Value Generation", shows instead of just working for capital, how important it is to generate value for customers. By generating value in other people's lives, on the other hand, they will generate value for you.

In the book "Mindset", from Carol S. Dweck, it is debated how our beliefs shape our behavior and our growth. While mindsets produce definitive worldviews, people can change as they learn new skills. Human beings can be taught to react in different ways, such as facing challenges and thinking differently.

Finally, in the book "Winning", Jack Welch discusses that we should always seek quality in our professional life. If you are not satisfied with your job, find a job that provides enthusiasm in your career. It is very important that you do not settle and leave the comfort zone.

Okay, but how can I apply this to my life?

List everything you want to achieve in the next six months - all the things you want to do and be..

Whether you want a sport car or a personal assistant, the ability to speak Greek fluently or prepare the perfect meal, make a monthly estimate of what is likely to spend.

So, based on that number, calculate a monthly revenue goal. Now you have a concrete figure to achieve the life of your dreams!

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Book 'The 4-Hour Workweek'