Tim Ferriss famously wrote a book titled The Four Hour Work Week, which was criticized for its title by a lot of people who never read it. Of course, The Four Hour Work Week sounds ludicrous. Even Ferriss himself shies away from that title, acknowledging nowadays that he doesn’t work four hours a week.
However, in the book Ferriss clearly lays out a plan that works if you truly understand it. In fact, I am convinced that he could have kept working only four hours a week using his method and never tried another venture again, but it is clear that he enjoys working on various projects and that overtook his desire for time and freedom.
Let’s go back to the concept of working only four hours a week. Knowing how to set up an internet business that can be maintained with just four hours a week is an incredibly liberating idea.
Why? Let’s say that you work towards this goal, which, if successful, frees up a lot of time to explore other opportunities while getting an income. This income may start to dry up at some point, but as long as it goes on, you have time to explore these other opportunities.
In my opinion, time is more valuable than money. It’s easy for some people to make a lot of money, but it often comes at the expense of their time, health, and personal relationships. When you have time, you can pay attention to the world around you and spot new opportunities that you may have otherwise missed.
The number of four hours is an arbitrary one. It could be eight, it could be ten, but the implication here is that if you set up the right system, you might be able to work only one day a week.
I believe that it’s entirely possible because I have experienced some degree of success towards this goal.
How? My answer might not surprise you if you’ve read Ferriss’s book, but I’ll expand on what he said in it.
The big answer is automation, but it’s more than simply setting up a computer to do the work for you. It’s about finding a good idea and then training a talented team to execute it for you. That’s the essence of The Four Hour Work Week.
The most important lesson, an insight in The Four Hour Work Week book is the Parkinson’s Law of time expansion, where Ferriss talks about this concept of work expanding to fill the time that we allocate to it. He gives you, in the book, a clear question to ask yourself to figure out what is truly important.
The question is this: “If I had a heart attack this week, how would I cut down my work week to the most essential?” Then he asks you to go beyond that question and ask yourself, “What if I had a second heart attack, then what would I do with my limited time and energy?”
The reason he wants you to ask yourself these questions is to figure out what the valuable activities you do are and what tasks can be delegated.
The assumption here is that you have set up a business that generates income.
If you don’t have that, then it might totally sound impossible to get to that point.
That’s why most people don’t get The Four Hour Work Week…it’s not a book on how to start a business. It’s a book for people who have started businesses and want to liberate themselves from it to start something else.
The first step in the process is to create an income stream via an internet business.
Then the second phase is to distill the essence of what you do into just a few activities, all the while training a team to replace you to do the smaller tasks.
This will enable you to maintain the spirit of the business and its efficacy in just a few hours a week.
I’ll go beyond that concept in my next email.
A great income stream to have online is writing your own eBooks. I have had great success with this and I know you can too.
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