The 4-Hour Work Week

Posted: January 29, 2010 in AudioBook Summaries

-Timothy Ferriss

SUMMARY:
People do not want to be millionaires, they only want to live the lifestyle that millions bring.
The ability to live like a millionaire is different to being a millionaire.
Changing the status quo is different to being stupid.
Different is better when it’s more effective.
Don’t follow a model that doesn’t work, if you can make something go faster, and get more done, why not do it.
Doing the uncommon within the rules is not cheating
Doing less is not laziness,
Too much of something is bad.
Money alone is not the solution, you also need to be able to live happily.
The timing is never right to do something, the world isn’t going to stop so you can do something, so you’d might as well do it now.
D-efinition, E-limination, A-utomation, L-iberation (DEAL).
What we fear most is usually what we must do.
It is harder to do the realistic than to do the unrealistic, because everyone thinks they will never get the unrealistic, and so will aim for the mediocre, making the unrealistic easier, because there are less people trying to do it.
Something unimportant done well doesn’t make it important, and lots of time doesn’t make a task important.
The end product of a shorter deadline is of equal or higher quality than a later deadline, due to greater focus.
More is not better, not finishing something is often 10 times better than finishing it, If a movie is bad half way through just walk out, you don’t have to finish something, unless a boss is demanding it.
Reading faster: Start reading a line from the third word, and end a line by finishing on the third to last line, as your peripheral vision can read the other words at the start and end of the line. Use your finger or a pen to keep track of which line you’re on.
When asking your boss something, end with is that reasonable? It’s hard for people to say something is unreasonable.
Profit is only profitable to the extent that you can use it.
Use Evernote to so you don’t need to have browser favourites, or lots of different tabs open, and to organize your notes digitally.
Eliminate before you delegate.
Creating demand is hard, filling demand is easy. Don’t create a product and then seek someone to sell it to, find a market, define your customers, and then develop your product.
It is better to be a big fish in a small pond, than a small fish in a big pond. Meaning your business should target a small, defined group, rather than a larger group, as it is harder to advertise and there are more competitors.
If everyone is your customer, no one is your customer.
Don’t ask people if they ‘would’ buy your product, ask them ‘to’ buy your product, because people will say they would buy it, but when asked to actually buy it they may not. So this gives you a more accurate idea of how popular your product is.
http://www.gotomypc.com – gain remote access of your work or home files from any computer, this is handy if you’re at work and leave something important on your home computer, and need it right then, or vice versa.
Life exists to be enjoyed.
Yes must be answered to the following two questions to make a question good:

  1. Have I decided on a single meaning for each term in this question?
  2. Can the answer to this question be acted upon to improve things?

What you don’t do determines what you can do.
Nine what not to do’s:

  1. Do not answer calls from unrecognised phone numbers.
  2. Do not email first thing in the morning or last thing at night, wait until at least 10:00 am.
  3. Do not agree on meetings with no clear agenda or end time, or that last more than 30 minutes.
  4. Do not let people ramble, no ‘how’s it going?’ etc.
  5. Do not check email constantly.
  6. Do not over communicate with low profit, high maintenance customers.
  7. Do not work more to fix overwhelmingness.
  8. Do not carry a cellphone 24/7, take a day off.
  9. Do not expect work to fill a void that work relationships and activities should.

-Paul

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