Book Summary: 4 Hour Workweek
Tim Ferriss bases the 4 Hour Workweek around strategies to get out of your cubicle and build a business. The emphasis of the book is on outsourcing and building as much passive income as possible.
Related Book Summaries:
Rich Dad, Poor Dad – Robert Kiyosaki
Philosophy For Life – Jules Evans – Book Summary
Quotes:
What we fear doing most is usually what we most need to do.
People will choose unhappiness over uncertainty.
Book Summary Notes:
- Most people will work 8 hours a day, 5 days a week till they are too old to enjoy a retirement.
- Use the DEAL formula to re-evaluate your current position and goals in life. Define, eliminate, automate and liberate.
- Begin by redefining your ideas of things like retirement, look at what the author calls mini retirements or breaks of 2 weeks to several months to take off and experience new things.
- Employ the Pareto principle in your daily life. What gives you a disproportionate amount of joy or brings in the bulk of the money you make? Focus more on that and cut everything else.
- Make doubly sure that not only are you being efficient but effective too. Most people work far too hard on things that just don’t matter.
- Identify and ignore time wasting distractions. That is anything that by ignoring it, will not negatively affect you or your work.
- Employ the urgent important matrix to help you identify what to spend your time on.
- Your end goal of freeing yourself from the daily grind will be far easier if you devote some time to building a small side business. Something that can earn you enough money to replace your day job and allow you more time to spend doing the things that matter.
