Discover the journey of implementing the 4-Hour Workweek methodology, a transformative approach that doubled productivity results. Uncover the secrets of efficient time management, strategic outsourcing, and the power of focused work that made this possible.
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
Tim Ferriss, an American author and entrepreneur, says that is possible
- The author tested the concept and went from making $40,000 a year on an 80-hour workweek to $40k per month on a 4 hour workweek
- However, it is more realistic and actionable than he expected
My Goal
I will keep doing what I love doing, but I’ll be doing my best to make more money with less work.
- Tim Ferriss explains there’s a difference between Deferrers (those who live carefully only to find that life has passed them by) and The New Rich (>those who have goals, distinct priorities, and life philosophies)
- The New rich have others working for them. They do the minimum necessary for maximum results.
Automation
How does an entrepreneur automate their income?
- A businessman invests in four trucks.
- He finds drivers to work for him, and finds people to run the business for him.
- The owner of the business is practically earning money with zero management.
- Freelancers need to improvise a bit.
The Results
With the Pareto principle, she was able to save at least one hour of her daily routine
- Need less time to collect information for a particular project
- Decreased the number of projects she was working on
- Thanks to the fact that she is doing less work, she is able to complete it more successfully
- She became immune to online distractions
Four major steps to make the transition towards the 4-hour workweek
Definition: Define your goal in this life and estimate its cost
- Elimination: Your old mindset about time management
- Automation: Change one’s morning drill to improve productivity
- Liberation: Living a stress-free life that lets you experience the most of it
What About the Money?
Previously, she charged $35 per hour for editing work, but now she charges $55 per hour
- For four hours of work, she is earning $220 per hour, working only three hours a day, and making $660 in three days
- Fewer working hours, but better results = more money
Automation
Teach you how to put cash flow on autopilot.
- Travel
- Liberation
- Think about the purpose you have in this life and the value you can bring to other people
- The author shares his own experience with this lifestyle, and it’s pretty successful.
The Low-Information Diet
Set limits on the amount of information we consume
- Pick the right sources to read
- The need for information no longer distracts you
- You will still receive the information you need, but it will be in the most effective form
What’s with the Free Time? What’s Next?
She started earning enough money to support a comfortable lifestyle, but didn’t expect so much free time.
- The people she knew didn’t have the free time she did, so she was spending most of her time alone. She realized she was missing a real purpose in life, and realized it was writing.
Do I Recommend It?
The 4-Hour Workweek is a pretty interesting and inspiring book. It helped me a lot. I am not working four hours per week, but I’ll keep taking these principles further and maybe I’ll get there. I recommend you to try. That’s the least you can do.
The Elimination
The job in the local magazine brought her a decent income, enough to buy all the things she wanted, but not enough to afford a vacation.
- She realized she was working too much, and had to reduce her working hours to eight to six days a week to be able to afford vacations and other luxuries.
- She decided to try editing, as it takes less time and effort and is less isolating.
The Pareto Principle (80/20)
The goal is to observe your entire workload and decide what’s effective and what’s making you waste time
- As an editor for BestDissertation, I was getting both small and big tasks
- I decided to eliminate the small tasks and start taking on large projects exclusively
- Big projects take more time to edit, but they pay better
Tools
There are several online tools that enable editors to detect plagiarism in a text
- Noplag
- Grammarly
- Autocrat
- Calibre
- Unroll.Me
- It lets you unsubscribe from all newsletters at once
