hello believe nation I started the
mentum e-series with the goal to learn
from people who’ve done a lot more than
us who’s who had great success and try
to hang around them just a little bit
longer so that some of their mindsets
motivations attitudes seep in to us to
help us become the best version of
ourselves so today we’re going to learn
from Tim Ferriss about 4-hour workweek
mentor me Tim life doesn’t have to be so
hard it really doesn’t now if you told
me that three years ago I wouldn’t have
believed you
but most people like past self included
have resigned themselves to nine to five
grind in exchange for sometimes although
increasingly less and less relaxing
weekends and the occasional one week
certainly no more than two week vacation
I came to realize that income really has
no practical value without time here are
a few simple steps you can take to
escape the rat race entirely not just
win it one of the first steps is the
process of elimination so to start you
need to consider something called
Pareto’s law more commonly known as the
80/20 principle because in order to work
less not have everything fall apart
you’ll have to quantify the 20% of
activities that are producing 80 percent
of your desired outcomes also take that
time to determine the 20 percent of
activities and people who are consuming
80 percent of your time
use this principle for everything
customers work tasks but also for
personal chores even for friends the
goal here is twofold number one to find
your inefficiencies in order to
eliminate them and then secondly this is
just as important to find your strengths
and those critical few tasks so you can
multiply your output
working every hour every minute from
9:00 to 5:00 with some type of digit
isn’t the goal it’s simply the structure
most people use it’s actually a legacy
from a time that’s already been
obsolesce in a knowledge economy the
more important thing is to shift from
presence to performance cut out static
all the things that consume time and
income out contributing back and focus
on the critical fuel you’ll find that
very few things matter another critical
step and a real complement to
elimination is what I call the low
information diet or cultivating
selectively ignorant keeping abreast if
all the new developments in any field
will consume all of your time it’ll be
all input and no output
you can’t possibly digest all that
information so a more effective approach
is to try to catch up when need be as
opposed to keeping up at all times a big
part of selective ignorance is learning
to let things wait for example email so
email is the single largest acceptable
interruption in modern life and it’s a
very convenient way of simulating
forward motion without accomplishing
anything it shouldn’t be a workspace
it’s a tool and one of the easiest
methods I’ve seen for controlling email
and one that’s become quite popular in
Silicon Valley is setting up a simple
autoresponder much like a vacation auto
response that says something like the
following dear all in an effort to
actually get work done I’m testing a new
email policy I’m checking in responding
to email only twice a day at 11 a.m. and
4 p.m. Pacific Time or whatever your
timezone happens to be if you need a
response before one of these two times
for anything urgent please call me on my
cell phone thanks for understanding the
food to greater effectiveness and
efficiency whatever your name this gives
you the breathing room finally two
single task and focus on completing the
mission critical tasks the critical few
from start to finish without
interruption
the third important tool I’d like to
mention and one of my personal favorites
is outsourcing life to get started
though we first need to replace the very
obsolete concept of annual income
it is a very deceptive metric with
hourly income and people are generally
extremely hesitant to delegate or
outsource because they feel they can do
something free themselves this is very
inaccurate so let’s start with a very
basic calculation of hourly time if you
make let’s say $50,000 per year you cut
off the last three zeros I just fifty
and you divide that in half and you get
25 so you make $25 an hour this is
assuming you get two weeks off per year
and you’re working 40 hours per week so
let’s just say on the very high end that
you can hire a personal assistant at
$30.00 per hour to handle one workday of
eight hours so your cost per hours and
five dollars so his or her 30 – your 25
that means
forty dollars per full eight-hour day of
freedom
this also means you can take a three-day
weekend every week it will cost you $40
per week I hired virtual assistants
around the world which only takes a few
hours help me with just about everything
from business research to reading email
cutting hundreds of email down to four
or five that I actually have to deal
with to travel product development
purchasing planning parties even online
dating there are a lot of unorthodox and
creative uses personal outsourcing is
only limited by your imagination and
return on investment is astounding four
hundred five hundred percent even for
someone who makes thirty forty thousand
dollars a year it’s smart to focus on
getting things done but it’s only
possible when you actually set you’re
not to do lists so once we remove the
constant static and the distraction and
focus on the critical few and they’re
really just aren’t that many so I hope
you enjoy the book and just remember
that outside of the law and science all
the rules we follow our rules we set
ourselves so set yourself up to win and
choose your own rules Timothy how do I
get
our workweek is that possible the 4-hour
workweek is possible but you need to
completely unplug and reset and the
reason that’s necessary is because there
is an epidemic and I do mean epidemic in
this country of information abuse an
information addiction where people have
come to believe that checking email 200
times per day having a blackberry to
your head or in your hand while you’re
at dinner or on the subway or in your
car or with your friends is the path to
becoming more productive and more
successful you mean it isn’t it isn’t
because giving everyone around you every
person in the world immediate access to
you is inviting interruption and
inviting minutiae to completely invade
your life which is happening to everyone
and it did happen to me I had no
intention of writing this book but from
2000 to 2004 I was working at startups
in Silicon Valley I started my own I’m
CEO and I worked from 7:00 a.m. to 9:00
p.m. every day I checked Outlook hitting
send receive 100 to 200 times per day
like a rat with a cocaine pellet
dispenser slept under my cubicle sent
emails on Thanksgiving to prospects it
was a depressing scene and it’s very
unfortunately common scene and I think
everyone is at a point of overwhelm
there is more information than we can
possibly organize time management is
dead isn’t it how do you turn that turn
it around the way turnaround is you have
to completely unplug and reset that
means you need to take a step back
forget about what people expect you to
do forget about what’s popular and
really look at what works and what is
consuming your time so there are four
steps
there’s definition elimination
automation and liberation definition is
simple first need to define your ideal
lifestyle what do you want to be doing
from when you wake up to when you go to
sleep and so what do you want to have
what you want to be what you want to do
and how much does that ideal lifestyle
cost and that becomes your target
elimination is simple it’s getting rid
of everything all the static all the
noise all the interruptions all the
micro managing all the people possible
that interfere with getting you to the
ideal lifestyle the third automation is
about taking the few remaining tasks
that are important the time-consuming
and either delegating automating or
somehow outsourcing them so in my
particular case I have an army of MBAs
in India about 25 of them who work for
$4 an hour and take care of tasks that
otherwise consume hundreds of my hours
and then the last step liberation is
about the final ingredient in lifestyle
design which is mobility and then also
how to use the time once you create it
which is very difficult for most people
okay this is fascinating but that’s the
point it is difficult I mean how do you
put the BlackBerry down how aren’t you
worried that you’re not going to make as
much money that you’re going to lose
clients do you have statistics that show
that that’s not the case
I have statistics that would absolutely
make your head spin so if you’re
interrupted by email and phone there was
an experiment done at Kings King’s
College for example to showed that
people who were stoned scored 6 points
better on myq tests and people were
interrupted by email and phone and that
now good to know 26% of people in the
American workforce are on the verge of a
nervous breakdown the system is not
working so it’s not a question of of if
I should do this this question of when
it is the only real alternative so one
simple step that people can take a baby
step to prove the concept is to simply
use an autoresponder set up an
autoresponder that tells everyone who
emails you I will be checking email
twice a day that’s a great idea at 11
and 4 p.m. if you require a more urgent
response before one of those two times
call me on my cell phone okay if I start
losing customers I’m going to call you
too you can call me okay what’s going to
happen instead of losing customers
you’ll get more done in the next 48
hours and you would in the next two
weeks so I’m use as defining for our
work week as I use it in a business
context is any business that provides an
automated source of income
and I think it’s it’s important for
people to satisfy their their financial
needs before striving to address all
these other needs because it really is a
valuable flexible currency and
ultimately the end goal is to speck out
what you want to do what you want to be
what you want to have work backwards
from a target monthly income number
design a business to support that and
provide that then minimize the number of
moving pieces automate it and then you
have I suppose what most people would
consider complete freedom in the form of
options left right center you evaluate
the income you need by taking all of
these various things that you would
defer for retirement defining them very
clearly whether that’s let’s just take
for instance Aston Martin db9 ski chalet
and Colorado for a few weeks of the year
etc etc even if that seems utterly
unattainable but all the things that you
would save for retirement if you had
five hundred thousand million dollars
forever then you look at how much of it
actually costs let’s say financed on a
monthly basis that could be through
Carlow it could be through a purchase
whatever it might be
and then you look at let’s say the top
two or three things in the to do and to
have categories and you add them up to
arrive at a target monthly income and it
can be extremely inexpensive I mean for
for the cars the trips and all that it
very seldom cost more than 75 right here
very seldom and that is liberating when
people realize that then the trick is
working backwards with that goal in mind
to find a business that provides that in
the fewest numbers of hours of input as
possible you can turn many different
types of products or services and abuses
but some things are easier than others
products ten
then services biggest services tend to
have more manual component at some level
secondly end customer service customer
support issues in terms of margin I like
to encourage people to aim for a retail
like margin which would be an 8 to 10 X
markup from cost of goods on five cost
by cost of goods I’m really just
referring to the physical goods I mean
you can look at fixed and variable costs
but there’s no need to get too fancy I
mean really it is my cost of producing a
thousand units let’s just say on a per
unit basis but I encourage people to
sacrifice margin in the beginning during
testing this is very important so it
might be something we can discuss
separately but in effect to get a lower
per unit cost you don’t want to stock up
on a thousand units of a product you’ve
never sold before it’s a much better
idea to prototype maybe dry test then
only at that point do a small batch run
of the product even if you’re only
making two cents a unit as long as
you’re not losing money you want to test
and not end up with an entire warehouse
full of product you can’t move yeah and
I think that in the beginning it pays as
long as you’re not losing money even if
you’re losing a small amount to test
effectively so that you know when you
scale you will have demand to be able to
fill that demand effectively amuse and
experimentation testing whether that’s
defining the market identifying the cost
per acquisition potentially for a
customer product design prototyping all
that can be done while you still have a
full-time job and I discourage people
from just cutting all ties and losing
full-time income to focus on a business
you don’t have to make that leap so
people tend to think in terms of
employed or entrepreneur employed person
employee or entrepreneur I think that
there’s a broad spectrum and you can
very slowly and methodically move from
one to the other and it doesn’t mean you
have to end up a full-time entrepreneur
yeah you could still keep your job and
have awesome side income I mean I’m not
going to name names but I’m pretty sure
you and I both know a guy who at the
time at least a few years ago worked at
Google and they’re selling millions of
dollars through Shopify ah and he did
both very comfortable so I don’t think
you have to choose necessarily between
one on the other what are some of the
real ways that somebody can work front
because I used to work in at NEC 115,000
employee place you had to go to work at
9:00 you know wear suit you know which
is why I went on the show quickly
reminds me that is about work right how
do you move from that world into the
world where you’re working very little
and getting very high value for the work
you put in and outsourcing everything
else so I think the second piece you
brought up is very important getting
very high value for the work you put in
so so ever since the book came out and
there’s been this this this gallery of
people I call me a hoax or whatever that
might be and I think the the main point
that many of them are missing because
they haven’t actually taken the time to
look at the book or to read the blog is
that the book is not literally about
everyone working four hours a week it’s
about decreasing the number of inputs
and increase in the road of are the
quality and quantity of output right all
that means is that as a true
entrepreneur in the sense that JB say
originally coined the term you’re taking
resources from an area of low economic
value and shifting them to an area of
high economic value so what are the
practical examples the first caveat is
that it does not need to include
outsourcing so the two things that I get
the most media play from are checking
email let’s say twice a day and then
personal outsourcing you could have you
could completely ignore both of those
things and still those are two of
sixteen chapters and it wouldn’t in any
way invalidate the premise of the book
in any way but so some practical tools
but just reiterate then what the premise
of the book is so they promised the book
the premise of the book I would say
there they’re two premises the first is
that
the objective is not busyness so massive
action without clearly defined
objectives is a form of laziness right
and secondly that the deferred life plan
so to speak that is a retirement based
life plan
long-haul career planning after which
you redeem all the experiences you want
to have the possessions you want to own
is fundamentally flawed and I don’t
think it’s very difficult for people to
argue with the logic this is easy to
attack me okay thirty years old doesn’t
have any kids what is this guy now
well we’re accused of being too nice to
our guests so Robert and I decided we
are going to attack exactly but then we
read about the kick boxing stuff right
so so so so we like the chat room that’s
fine I mean if people want to attack me
if we all had the same opinion in the
world would be very boring place but
let’s just take personal outsourcing as
an example I can’t do it I’ve boss I’ll
get fired okay first of all I don’t
distinguish between work or business and
personal time in so much as if you’re
miss spending that time whether it’s on
household chores on the weekend when
you’ve put in 80 hours from Monday to
Friday or checking email to simulate
forward motion as opposed to defining
your measurable objectives those are
both waste of time so if you have a job
and there’s absolutely no way you can
apply outsourcing that job which we can
question in a second that still means
let’s say your son has a birthday party
on Sunday he wants the equivalent of
this season’s tickle-me-elmo which is
impossible to find rather than spending
your entire Saturday going from store to
store over let’s say a period of five
hours to find the toy you could call or
email ask Sunday go to ask Sunday calm
and for forty to fifty dollars a month
have thirty inquiries this would be one
you call them you say here’s my zip code
call every toy store within a 10-mile
radius find this toy make a reservation
or purchase it using my credit card and
have it held behind the counter call me
when it’s ready tell me where to pick it
up and that would save you four to five
hours all right so let’s just say that
you make fifty thousand
hours a year there are number ways you
can go about it but an easy way to
approximate your per hour income is if
you work 40 hours a week and get two
weeks of vacation years to cut off the
last three zeroes and chopped that
remaining number in half so that would
mean that you make fifty thousand
dollars a year you make roughly
twenty-five dollars an hour okay so if
you can for forty dollars get let’s say
thirty enquiries this one inquiry alone
on a weekend saves you four to five
hours well let’s let’s say 100 to 125
dollars profit in time currency that
you’ve gained and the goal is not again
to get from 80 to four hours I don’t
believe and never claim that someone can
do that overnight and most people if
they enjoy their work would never want
to get to four hours so the objective is
to spend time on the things that our
most profitable or most enjoyable and
for some people let’s say those are
pastors writers teachers it’s not being
inactive that’s never the objective I
work my ass off on things that I care
about I spent a very very busy guy as
you know yeah but on things that I
choose to spend my time Allah those
people let’s say pastor who suffers from
let’s say emotional fatigue sympathy
fatigue his objective will simply be to
Razoo reduce the volume of work so that
he can be most effective and whether
it’s using ask sunday or simply training
yourself to check email at set times so
that it doesn’t become a reactive
disorganized approach thank you guys so
much for watching I hope you enjoyed I’d
love to know what did you think about
the video what was the one thing that
you learned the most from this video
that you can apply to your business it’s
this is one of my favorite books of all
time and so I hope that some of the
lessons that have come out in this video
have helped you as well I highly
recommend going up checking the book as
well we have
writing so whatever was the most
important lesson you learned please
leaving the comments below I’m going to
join in the discussion I also want to
give a quick shout out to Jason Jay Rhys
fond Sica for picking up a copy of my
book again I really appreciate that
Jason feeling the love you guys want to
chance at a shadow in the future video
make sure to grab a copy of the book and
email in your receipt so we can keep
track thank you guys so much for
watching I believe in you I hope you
continue to believe in yourself and
whatever your one word is I’ll see you
soon
mentum e-series with the goal to learn
from people who’ve done a lot more than
us who’s who had great success and try
to hang around them just a little bit
longer so that some of their mindsets
motivations attitudes seep in to us to
help us become the best version of
ourselves so today we’re going to learn
from Tim Ferriss about 4-hour workweek
mentor me Tim life doesn’t have to be so
hard it really doesn’t now if you told
me that three years ago I wouldn’t have
believed you
but most people like past self included
have resigned themselves to nine to five
grind in exchange for sometimes although
increasingly less and less relaxing
weekends and the occasional one week
certainly no more than two week vacation
I came to realize that income really has
no practical value without time here are
a few simple steps you can take to
escape the rat race entirely not just
win it one of the first steps is the
process of elimination so to start you
need to consider something called
Pareto’s law more commonly known as the
80/20 principle because in order to work
less not have everything fall apart
you’ll have to quantify the 20% of
activities that are producing 80 percent
of your desired outcomes also take that
time to determine the 20 percent of
activities and people who are consuming
80 percent of your time
use this principle for everything
customers work tasks but also for
personal chores even for friends the
goal here is twofold number one to find
your inefficiencies in order to
eliminate them and then secondly this is
just as important to find your strengths
and those critical few tasks so you can
multiply your output
working every hour every minute from
9:00 to 5:00 with some type of digit
isn’t the goal it’s simply the structure
most people use it’s actually a legacy
from a time that’s already been
obsolesce in a knowledge economy the
more important thing is to shift from
presence to performance cut out static
all the things that consume time and
income out contributing back and focus
on the critical fuel you’ll find that
very few things matter another critical
step and a real complement to
elimination is what I call the low
information diet or cultivating
selectively ignorant keeping abreast if
all the new developments in any field
will consume all of your time it’ll be
all input and no output
you can’t possibly digest all that
information so a more effective approach
is to try to catch up when need be as
opposed to keeping up at all times a big
part of selective ignorance is learning
to let things wait for example email so
email is the single largest acceptable
interruption in modern life and it’s a
very convenient way of simulating
forward motion without accomplishing
anything it shouldn’t be a workspace
it’s a tool and one of the easiest
methods I’ve seen for controlling email
and one that’s become quite popular in
Silicon Valley is setting up a simple
autoresponder much like a vacation auto
response that says something like the
following dear all in an effort to
actually get work done I’m testing a new
email policy I’m checking in responding
to email only twice a day at 11 a.m. and
4 p.m. Pacific Time or whatever your
timezone happens to be if you need a
response before one of these two times
for anything urgent please call me on my
cell phone thanks for understanding the
food to greater effectiveness and
efficiency whatever your name this gives
you the breathing room finally two
single task and focus on completing the
mission critical tasks the critical few
from start to finish without
interruption
the third important tool I’d like to
mention and one of my personal favorites
is outsourcing life to get started
though we first need to replace the very
obsolete concept of annual income
it is a very deceptive metric with
hourly income and people are generally
extremely hesitant to delegate or
outsource because they feel they can do
something free themselves this is very
inaccurate so let’s start with a very
basic calculation of hourly time if you
make let’s say $50,000 per year you cut
off the last three zeros I just fifty
and you divide that in half and you get
25 so you make $25 an hour this is
assuming you get two weeks off per year
and you’re working 40 hours per week so
let’s just say on the very high end that
you can hire a personal assistant at
$30.00 per hour to handle one workday of
eight hours so your cost per hours and
five dollars so his or her 30 – your 25
that means
forty dollars per full eight-hour day of
freedom
this also means you can take a three-day
weekend every week it will cost you $40
per week I hired virtual assistants
around the world which only takes a few
hours help me with just about everything
from business research to reading email
cutting hundreds of email down to four
or five that I actually have to deal
with to travel product development
purchasing planning parties even online
dating there are a lot of unorthodox and
creative uses personal outsourcing is
only limited by your imagination and
return on investment is astounding four
hundred five hundred percent even for
someone who makes thirty forty thousand
dollars a year it’s smart to focus on
getting things done but it’s only
possible when you actually set you’re
not to do lists so once we remove the
constant static and the distraction and
focus on the critical few and they’re
really just aren’t that many so I hope
you enjoy the book and just remember
that outside of the law and science all
the rules we follow our rules we set
ourselves so set yourself up to win and
choose your own rules Timothy how do I
get
our workweek is that possible the 4-hour
workweek is possible but you need to
completely unplug and reset and the
reason that’s necessary is because there
is an epidemic and I do mean epidemic in
this country of information abuse an
information addiction where people have
come to believe that checking email 200
times per day having a blackberry to
your head or in your hand while you’re
at dinner or on the subway or in your
car or with your friends is the path to
becoming more productive and more
successful you mean it isn’t it isn’t
because giving everyone around you every
person in the world immediate access to
you is inviting interruption and
inviting minutiae to completely invade
your life which is happening to everyone
and it did happen to me I had no
intention of writing this book but from
2000 to 2004 I was working at startups
in Silicon Valley I started my own I’m
CEO and I worked from 7:00 a.m. to 9:00
p.m. every day I checked Outlook hitting
send receive 100 to 200 times per day
like a rat with a cocaine pellet
dispenser slept under my cubicle sent
emails on Thanksgiving to prospects it
was a depressing scene and it’s very
unfortunately common scene and I think
everyone is at a point of overwhelm
there is more information than we can
possibly organize time management is
dead isn’t it how do you turn that turn
it around the way turnaround is you have
to completely unplug and reset that
means you need to take a step back
forget about what people expect you to
do forget about what’s popular and
really look at what works and what is
consuming your time so there are four
steps
there’s definition elimination
automation and liberation definition is
simple first need to define your ideal
lifestyle what do you want to be doing
from when you wake up to when you go to
sleep and so what do you want to have
what you want to be what you want to do
and how much does that ideal lifestyle
cost and that becomes your target
elimination is simple it’s getting rid
of everything all the static all the
noise all the interruptions all the
micro managing all the people possible
that interfere with getting you to the
ideal lifestyle the third automation is
about taking the few remaining tasks
that are important the time-consuming
and either delegating automating or
somehow outsourcing them so in my
particular case I have an army of MBAs
in India about 25 of them who work for
$4 an hour and take care of tasks that
otherwise consume hundreds of my hours
and then the last step liberation is
about the final ingredient in lifestyle
design which is mobility and then also
how to use the time once you create it
which is very difficult for most people
okay this is fascinating but that’s the
point it is difficult I mean how do you
put the BlackBerry down how aren’t you
worried that you’re not going to make as
much money that you’re going to lose
clients do you have statistics that show
that that’s not the case
I have statistics that would absolutely
make your head spin so if you’re
interrupted by email and phone there was
an experiment done at Kings King’s
College for example to showed that
people who were stoned scored 6 points
better on myq tests and people were
interrupted by email and phone and that
now good to know 26% of people in the
American workforce are on the verge of a
nervous breakdown the system is not
working so it’s not a question of of if
I should do this this question of when
it is the only real alternative so one
simple step that people can take a baby
step to prove the concept is to simply
use an autoresponder set up an
autoresponder that tells everyone who
emails you I will be checking email
twice a day that’s a great idea at 11
and 4 p.m. if you require a more urgent
response before one of those two times
call me on my cell phone okay if I start
losing customers I’m going to call you
too you can call me okay what’s going to
happen instead of losing customers
you’ll get more done in the next 48
hours and you would in the next two
weeks so I’m use as defining for our
work week as I use it in a business
context is any business that provides an
automated source of income
and I think it’s it’s important for
people to satisfy their their financial
needs before striving to address all
these other needs because it really is a
valuable flexible currency and
ultimately the end goal is to speck out
what you want to do what you want to be
what you want to have work backwards
from a target monthly income number
design a business to support that and
provide that then minimize the number of
moving pieces automate it and then you
have I suppose what most people would
consider complete freedom in the form of
options left right center you evaluate
the income you need by taking all of
these various things that you would
defer for retirement defining them very
clearly whether that’s let’s just take
for instance Aston Martin db9 ski chalet
and Colorado for a few weeks of the year
etc etc even if that seems utterly
unattainable but all the things that you
would save for retirement if you had
five hundred thousand million dollars
forever then you look at how much of it
actually costs let’s say financed on a
monthly basis that could be through
Carlow it could be through a purchase
whatever it might be
and then you look at let’s say the top
two or three things in the to do and to
have categories and you add them up to
arrive at a target monthly income and it
can be extremely inexpensive I mean for
for the cars the trips and all that it
very seldom cost more than 75 right here
very seldom and that is liberating when
people realize that then the trick is
working backwards with that goal in mind
to find a business that provides that in
the fewest numbers of hours of input as
possible you can turn many different
types of products or services and abuses
but some things are easier than others
products ten
then services biggest services tend to
have more manual component at some level
secondly end customer service customer
support issues in terms of margin I like
to encourage people to aim for a retail
like margin which would be an 8 to 10 X
markup from cost of goods on five cost
by cost of goods I’m really just
referring to the physical goods I mean
you can look at fixed and variable costs
but there’s no need to get too fancy I
mean really it is my cost of producing a
thousand units let’s just say on a per
unit basis but I encourage people to
sacrifice margin in the beginning during
testing this is very important so it
might be something we can discuss
separately but in effect to get a lower
per unit cost you don’t want to stock up
on a thousand units of a product you’ve
never sold before it’s a much better
idea to prototype maybe dry test then
only at that point do a small batch run
of the product even if you’re only
making two cents a unit as long as
you’re not losing money you want to test
and not end up with an entire warehouse
full of product you can’t move yeah and
I think that in the beginning it pays as
long as you’re not losing money even if
you’re losing a small amount to test
effectively so that you know when you
scale you will have demand to be able to
fill that demand effectively amuse and
experimentation testing whether that’s
defining the market identifying the cost
per acquisition potentially for a
customer product design prototyping all
that can be done while you still have a
full-time job and I discourage people
from just cutting all ties and losing
full-time income to focus on a business
you don’t have to make that leap so
people tend to think in terms of
employed or entrepreneur employed person
employee or entrepreneur I think that
there’s a broad spectrum and you can
very slowly and methodically move from
one to the other and it doesn’t mean you
have to end up a full-time entrepreneur
yeah you could still keep your job and
have awesome side income I mean I’m not
going to name names but I’m pretty sure
you and I both know a guy who at the
time at least a few years ago worked at
Google and they’re selling millions of
dollars through Shopify ah and he did
both very comfortable so I don’t think
you have to choose necessarily between
one on the other what are some of the
real ways that somebody can work front
because I used to work in at NEC 115,000
employee place you had to go to work at
9:00 you know wear suit you know which
is why I went on the show quickly
reminds me that is about work right how
do you move from that world into the
world where you’re working very little
and getting very high value for the work
you put in and outsourcing everything
else so I think the second piece you
brought up is very important getting
very high value for the work you put in
so so ever since the book came out and
there’s been this this this gallery of
people I call me a hoax or whatever that
might be and I think the the main point
that many of them are missing because
they haven’t actually taken the time to
look at the book or to read the blog is
that the book is not literally about
everyone working four hours a week it’s
about decreasing the number of inputs
and increase in the road of are the
quality and quantity of output right all
that means is that as a true
entrepreneur in the sense that JB say
originally coined the term you’re taking
resources from an area of low economic
value and shifting them to an area of
high economic value so what are the
practical examples the first caveat is
that it does not need to include
outsourcing so the two things that I get
the most media play from are checking
email let’s say twice a day and then
personal outsourcing you could have you
could completely ignore both of those
things and still those are two of
sixteen chapters and it wouldn’t in any
way invalidate the premise of the book
in any way but so some practical tools
but just reiterate then what the premise
of the book is so they promised the book
the premise of the book I would say
there they’re two premises the first is
that
the objective is not busyness so massive
action without clearly defined
objectives is a form of laziness right
and secondly that the deferred life plan
so to speak that is a retirement based
life plan
long-haul career planning after which
you redeem all the experiences you want
to have the possessions you want to own
is fundamentally flawed and I don’t
think it’s very difficult for people to
argue with the logic this is easy to
attack me okay thirty years old doesn’t
have any kids what is this guy now
well we’re accused of being too nice to
our guests so Robert and I decided we
are going to attack exactly but then we
read about the kick boxing stuff right
so so so so we like the chat room that’s
fine I mean if people want to attack me
if we all had the same opinion in the
world would be very boring place but
let’s just take personal outsourcing as
an example I can’t do it I’ve boss I’ll
get fired okay first of all I don’t
distinguish between work or business and
personal time in so much as if you’re
miss spending that time whether it’s on
household chores on the weekend when
you’ve put in 80 hours from Monday to
Friday or checking email to simulate
forward motion as opposed to defining
your measurable objectives those are
both waste of time so if you have a job
and there’s absolutely no way you can
apply outsourcing that job which we can
question in a second that still means
let’s say your son has a birthday party
on Sunday he wants the equivalent of
this season’s tickle-me-elmo which is
impossible to find rather than spending
your entire Saturday going from store to
store over let’s say a period of five
hours to find the toy you could call or
email ask Sunday go to ask Sunday calm
and for forty to fifty dollars a month
have thirty inquiries this would be one
you call them you say here’s my zip code
call every toy store within a 10-mile
radius find this toy make a reservation
or purchase it using my credit card and
have it held behind the counter call me
when it’s ready tell me where to pick it
up and that would save you four to five
hours all right so let’s just say that
you make fifty thousand
hours a year there are number ways you
can go about it but an easy way to
approximate your per hour income is if
you work 40 hours a week and get two
weeks of vacation years to cut off the
last three zeroes and chopped that
remaining number in half so that would
mean that you make fifty thousand
dollars a year you make roughly
twenty-five dollars an hour okay so if
you can for forty dollars get let’s say
thirty enquiries this one inquiry alone
on a weekend saves you four to five
hours well let’s let’s say 100 to 125
dollars profit in time currency that
you’ve gained and the goal is not again
to get from 80 to four hours I don’t
believe and never claim that someone can
do that overnight and most people if
they enjoy their work would never want
to get to four hours so the objective is
to spend time on the things that our
most profitable or most enjoyable and
for some people let’s say those are
pastors writers teachers it’s not being
inactive that’s never the objective I
work my ass off on things that I care
about I spent a very very busy guy as
you know yeah but on things that I
choose to spend my time Allah those
people let’s say pastor who suffers from
let’s say emotional fatigue sympathy
fatigue his objective will simply be to
Razoo reduce the volume of work so that
he can be most effective and whether
it’s using ask sunday or simply training
yourself to check email at set times so
that it doesn’t become a reactive
disorganized approach thank you guys so
much for watching I hope you enjoyed I’d
love to know what did you think about
the video what was the one thing that
you learned the most from this video
that you can apply to your business it’s
this is one of my favorite books of all
time and so I hope that some of the
lessons that have come out in this video
have helped you as well I highly
recommend going up checking the book as
well we have
writing so whatever was the most
important lesson you learned please
leaving the comments below I’m going to
join in the discussion I also want to
give a quick shout out to Jason Jay Rhys
fond Sica for picking up a copy of my
book again I really appreciate that
Jason feeling the love you guys want to
chance at a shadow in the future video
make sure to grab a copy of the book and
email in your receipt so we can keep
track thank you guys so much for
watching I believe in you I hope you
continue to believe in yourself and
whatever your one word is I’ll see you
soon
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