In this video, you will get to see a book summary and notes for the 4-Hour Workweek by Tim Ferriss.
This book will teach you a lot about productivity, lifestyle design, entrepreneurship, and traveling the world.
Enjoy the video and let me know what you think in the comments below!
- Author: Tim Ferriss
- Publishing date: April 24, 2007
1. It’s about productivity, not work.
Always be asking if you're being productive or just busy when working.
2. Use the 80/20 rule
Typically, about 80% of your results are going to come from 20% of your actions or sources.
Tim Ferriss realized his business made 80% of its revenue off of 20% of customers, so he cut out the rest and focused on them.
3. Emphasize your strengths instead of fixing weaknesses
Fixing weaknesses takes too long and you will never be in the top 1% with them like you can be with skills you're naturally good at. You have an edge over others in some areas. Find them.
4. Stop trying to compete with everyone at the same things
Consider making your own niche and dominating it as the big fish in a small pond like Tim Ferriss did with “lifestyle design”.
5. Successful people try to improve income per hour, not just total income
To make more, you should not work more. Focus on being more efficient, cutting out time-wasting activities, and focusing on what works best.
If you got hit by a bus and could only work 2 hours per week, what would you have to do?
6. Use a low information diet, focusing only on highest quality inputs
Books, top podcasts, TED Talks, and maybe the occasional documentary are ways that the “New Rich” get their information because it is productive. This information can be used and teach lessons.
News, gossip, and social media won't do much for you.
7. Your business should leave you alone as much as possible
The whole point of your muse is it is supposed to make you money and help you be free of time constraints. Delegate, automate, and work less total hours.
8. Delegate anything you can with a virtual assistant firm
A virtual assistant can be very helpful as mentioned in the book. It's best to go with a firm instead of one individual in case something happens to the main assistant.
9. Take mini retirements instead of waiting until you’re old
What's the point of retiring when you're too old to do anything fun? It can actually be very affordable to live like a rich person and travel to exotic places around the world.
Ditch hotels for apartments, travel life, and follow Tim's tricks for living “the life” in foreign places.
10. Get your most important task done before 11:00 A.M.
This helped me a lot. Things come up all the time when you're a business owner or employee and getting that biggest, more important, income-producing task done first works wonders for productivity.
Other helpful resources:
- Get The 4 Hour Workweek here
- The 4 Hour Workweek Table of Contents
- Tim Ferriss website
- More information on Tim Ferriss