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The 4-Hour Workweek

By Tim Ferriss

  • Aim high so you can create your own reality and write your own rules.
  • Step outside of your comfort zone and take action now.
  • Try to gain the freedom of remote working within your current job.
  • Be effective on the job by working on things with the goal of gaining remote work.
  • The 80/20 rule applies with work: 20% of work will bring 80% of results. So, focus on being productive instead of busy.
  • Time is money. Remove things that reduce your effectiveness at the job.
  • Rate the importance of a task by asking yourself, "If this is the only thing I do today, would I be happy with today?"
  • Finish your high priority items before noon.
  • Address email and voicemail messages after completing the high priority tasks are done. Then bundle tasks to finish them.
  • Have others play by your communication rules.
  • Set up an automatic source of income by outsourcing everything. The key is to use as little of your time as possible.
  • Have open communication and do not let your input be a requirement in the business process.
  • Delegate as much responsibility as possible.
  • Validate and test your products before selling. Set up an online store with out-of-stock items and an A/B testing ad campaign.
  • Establish credibility in your product category.
  • Appear bigger; because people trust larger companies.
  • Be picky about your customers. The 20/80 rule applies. Top 20% of your customers will be responsible for 80% of revenue, so attend to them.
  • Go premium with your product because premium quality brings higher profit and customer quality.
  • Don't lie to yourself and think that when staying within your comfort zone, things will magically be okay.
  • Don't start your day by checking emails.
  • A fulfilling life can be achieved by being mobile and flexible. This means that you can do whatever you like, whenever you like.
  • Moderate, automatic income you can manage anywhere around the world allows for the mobility required for the lifestyle you truly want.
  • The worst-case scenario from making a decision is usually not as bad as you think.
  • Five steps to independence
    1. Start with a full time 9 - 5 job
    2. Move to a full time remote 9 - 5 job
    3. Gain efficiency to reduce 9 - 5 tasks to 9 - 1
    4. Use other time to automate alternative income
    5. Quit old job and live on alternative income.