The 4 hour work week, Live anywhere and join the new rich.
Tim Ferriss, a man who got bored with 9 to 5 job and thought of living a life like a millionaire without actually having million dollars in his account.
Although it wasn’t his respect towards writing but his frustration of a 9 to 5 job which now have a physical presence.
It’s not much related to time management, but it’s the best book on the time’s value.
As this book is a result of his frustration towards the 9 to 5 job and the idea that people generally think of: we will enjoy after retirement.
He says that, why can’t we work and enjoy throughout our whole life.
i strongly recommend this book for all those who want to learn about time management, because it stands out from the rest in the category.
A Short Summary
What will you learn?
The book contains various principles and concepts with real example which can help you with:
- Your time management.
- Your journey to New Rich.
- Developing a source of passive income.
- Owning a business instead of running one.
- Saving up your maximum time.
- Developing a cycle of work and rest so that you can enjoy your whole life, instead of just focusing on retirement.
Here, I’m going to explain some of them so that you can have a clear idea about them:
1. The 80/20 Principle
Although the 80/20 principle was given by Pareto in 1906 , Tim explains it in very detail.
What is 80/20 Principle?
According to 80/20 rule, 80 percent of output is generated from 20 percent of input. And the remaining 20 percent of output is generated from remaining 80 percent of input.
This rule is valid in every field. For example:
- 80 percent of profit of a corporation is from the 20 percent of customers and on 20 percent of their products.
- 20 percent of question contain 80 percent of marks.
- 20 percent actors/actresses make 80 percent of money in film industry.
- 80 percent of criminal damage is caused by 20 percent of criminals.
- 80 percent of any kind of product is manufactured in 20 percent of corporation,etc.
It’s now clear that 80/20 rule is valid at almost every thing.
You have something in mind which doesn’t follow the 80/20 rule, please let everyone know in the comment section.
What does author say about 80/20 rule?
Author completely agreed with the 80/20 rule and also explains how you can save your maximum time.
Doing something unimportant well doesn’t make it important.
Author gives his personal experiences as examples. He explains how you can achieve 80 percent off goals from 20 percent of work and how you focus on the other 80 percent of hard work, which will result in only 20 percent of success.
How can you apply 80/20 rule?
The answer is very simple.
You just need to identify 20 percent of input by analysing your inputs and outputs for a certain period of time and then decide your 20 percent if input.
If you want to know more about 80/20 principle and how can you apply it in your life then just refer to below link.
Also Read – The 80/20 Rule( link will be available as soon as the article is posted).
2. The DEAL concept
First we should understand what does DEAL stands for.
D stands for, Definition or To define.
Author says, first we should define our dreams. It means we have to define our goals or whatever we want to achieve.
According to author, dreams are categorized in 3 types: having, being, doing.
- In having, you feel happy when you have something which you want.
- In being, a person feels happy when he become what he want to be.
- In doing, someone feels happy when he does something which he wanted to do.
Next, author asks to quantify the cost which is needed to make your dreams reality.
And, at last in defining he asks to define the action which you need to take to achieve your goals.
E stands for Elimination
In this step author discuss about the tasks which you need to eliminate to save 80 percent of your time.
Mainly I appreciate the two things in this step.
- The 80/20 rule In the book the 80/20 rule is mentioned in elimination part but we discussed it above because I wanted to explain it separately.
- Small-info diets Author recommends to avoid unwanted information to be stored in your brain.
- Is that your dream? – Author asks you to check yourself what you are doing in the free time or in the weekends. If it is in your dream list than you can but avoid any other.
There are many more things recommended in the book.
A stands for Automation
As the name suggest, author asks to automate and outsource as much as we can.
He explains, we need to do only those things which provides value to our dreams and provide satisfaction.
You can outsource the repetitive tasks and use Virtual Assistants wherever you can to save your time.
For example, Using 80/20 rule he asks to automate the email replies from FAQ sections etc. for low profitable customers, instead of replying them manually.
L stands for Libration
In the final step author asks to liberate.
It means here, he says take mini -retirements instead of waiting 40 years for one.
You can experiment and do whatever which gives you a kick.
What will you enjoy when you will be 60 years old? Don’t you agree?
There are many ways of doing this which you can go and read.
3. Three Lessons
There are three very important lessons which I got from the overall book in addition to above explained, they are listed below:
- Effective vs efficient, author asks us to be effective instead of being efficient.
- Validate, author meant that we can validate first that is their any demand in market or not? Then we can produce or work on the idea as per the demand.
- Focus on less no. of customers with maximum buying potential, let’s take an example for explaining this: suppose you create a product of$10per piece than you have to make a Sale of 400 pieces for making 4000$. According to author, instead you can make a quality product of 40$ and can make 4000$ with 100 sales only.
4. What is the real meaning of being rich?
Becoming millionaire does not mean people want to have million dollars in their bank account, they just want to have the experience of living like a millionaire.
And for really being rich you should have control over these four things:
- What you do?
- When you do?
- Where you do?
- With whom you do?
From all these questions, two of them are most important.
If you can control for how much time you work and from where you work that is time and mobility.Than it means you are rich. Tim called then New Rich.
5. Who is really rich?
This concept is a very interesting one. Think and answer who is rich from the guys mentioned below.
There are two friends Robert and Michael. Suppose Michael earn $10, 000 per month and Robert earn $5, 000 per month. Robert is an online business owner whereas Michael is on a successful post in a big corporation.
Who is more rich?
obviously, Michael earns more so he is rich, no.?
Let me explain.
Michael works 60 hours per week while Robert works only 20 hours per week.
When compared the hourly income of Robert is way more than Michael.
Moreover, as discussed above Robert can live wherever he want ( low taxation markets) and can work whenever he wants. But in case of Michael he have to live in the city where his business office is. And have to pay rents, high tax etc.
I think you got the point. If you have any doubts feel free to comment below.
I’ve explained some of them but the book contains many more concepts like Parkinson’s rules and many more.
The book also contains real life examples.
What are the points you should think before buying a book?
There are various things you should consider before buying a book. The important ones are mentioned below:
1. Is it productive?
The most important thing is whether the book is a productive one or just waste of time.
Don’t take it another way. Entertainment books are also of two types; productive or the time waster.
whether you read any kind of book, first think that whether it’s going to help you or not.
If you find a productive book than you should buy it even if it put a load on your pocket.
2. Have you read any similar book?
This is also an important thing you should think of.
Before buying any book first go and read the reviews of that book and try to find out whether you have read the book or not.
In my opinion if 60 per cent of book is similar to one you read until this you can think of buying the book. If the number goes beyond that than you should go for another book, because there are plenty of books available.
It’s upto the book if the book contains valuable knowledge in remaining 40 percent also than you should go with it.
3. The book is practical or not?
You first have to think whether the book is usable in practical life or not.
Because if you have million of philosophical information but you can’t use it practically than what’s the point of the book.
4. Is it useful in the technology era?
Many books are there which contains very much valuable information but the information is too old that it’s not usable in the practical life.
If you want you can buy, but try to read books which are applicable in the present era.
5. Is it worth the value?
You should think of the strain that the book is going to put on your pocket.
But I’ve put this point in last because if you read valuable books that are applicable in present era than they will give you the knowledge 1000 times of the value.
But it’s completely your decision, so buy if you want to.
Why you should read this book?
I’ll recommend that you must read the book once. Why you should read this book?
1. It is productive.
The whole concept of this book is to increase your productivity. It’s so because this book focuses on:
- Improving your time management skills.
- Increasing you effectiveness.
- Teaching how to eliminate distraction to get 80 percent more time.
- The DEAL method is only about productivity.
2. It’s a stand out
You will not find any book similar to this, may find which contains some portion of it.
This book is one piece of it’s own quality and it can’t be made by someone else.
There is no book in my knowledge which is approximately similar to this one.
3. A practical one
This book is completely practical and it also contains real life examples.
All the concepts are practical and anyone can apply them and become new rich.
As this book is published in the 21st century only so its not so old that it will be non practical.
4. Worth the Value
At first sight the book may seem expensive but if you have read the full article than you should go with it, it will help you alot.
The content of this book deserve this price.
Let’s just discuss the pros and corns of this book in two minutes.
|Productive ✔||Presentation ❌|
|Practical ✔||Concept of selective ignorance ❌|
|Real life examples ✔|
|Worth the value✔|
|Helpful links ✔|
Buy Now Offers
You can buy the book from the following links:
You can buy the books from the above links because it will not make any difference in the price.
The bottom line
Overall this book is a must read. This book is a New York best seller.
This book greatly improves your productivity and can help you with free up 80 percent of your time.
It can help make fortunes if you use it’s knowledge wisely.
Best of luck.