Louisville, KY (PressExposure) March 29, 2012 -- From the title, the book may strike you as one of those 'How to earn so much $$ in this much time" or the so-called 'get rich fast' schemes very popular today. However, the Ferriss book is actually far more than just that.
True, it does teach you how to spend less time and get more results and how to maximize your efficiency but it stands out in one aspect-It is based from Ferriss' personal experience. The Pareto principle also known as the 80-20 rules is the essence of the book. I find the theory is quite interesting: 80/20 principle is the idea that 80% of your productivity comes from 20% of your time, and the other 20% of your productivity eats up 80% of your time.
In his book, Ferriss explains how the 80/20 rule changed his business life. How he was able to go from working for someone 40 hours a week to working for himself to being able to " create a hands-off business that generates $80,000 per month with no management" as he puts it.
One of the interesting questions he poses is "Is it really necessary to work like a slave to live like a millionaire"? Many would answer-YES. There is no shortcut to success but Ferriss presents what he calls the DEAL which is a 'process to become a new member of the New Rich'. These are the 'four components to life's design'.
Definition- it's all about knowing what you want in life. Deciding for yourself that you will be the boss, set your own time and make tons of money-bottom line is replacing assumptions with rules. I like the part he contrasts 'Challenging the status quo with being stupid'. As long as you are effective, being different is OK.
Elimination-the difference between efficiency and effectively is nicely put in this section. According to Ferriss-What you do is far more important than how you do it. Being efficient isn't enough. One must know how to be efficient with the RIGHT things. Eliminating time consuming unnecessary tasks is the first step.
Automation-outsourcing is making the most of your time! Like Ferrel puts it: "I'm not wasting time while I drool on my pillow, things are getting done". His Golden rule #1 when delegating tasks (outsourcing) is that it should be time consuming and well-defined.
Liberation-"How to Escape the Office" is exactly what Liberation is about. You can design your job in a way that you have fun while getting the work done.
Here are some of my personal favorite tips, lines and tricks that I think everyone can apply:
Doing something unimportant well doesn't make it important. Requiring a lot of time does not make a task important.
Most things make no difference. Being busy is a form of laziness-lazy thinking and indiscriminate action.
If you had a gun to your head and HAD to stop doing 4/5 of different time consuming activities, what would you remove?
Cultivate selective ignorance. It is imperative that you learn to ignore or redirect all information and interruptions that are irrelevant, unimportant or unactionable.
Master the art of refusal and avoiding meetings.
I could go on and on about all the witty tricks The 4-hour Workweek has to offer. Though not ALL businesses can apply ALL parts of his book, the basic theories he presents are a must-read. The book concludes with a thought provoking fact: "life is neither a problem to be solved nor a game to be won".
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