The 4-Hour Workweek | Timothy Ferriss (Book Summary)

The book shows you how to reduce your work without working like an ordinary 9 to 5 worker.

Doing less is not laziness

Doing less meaningless work, so that you can focus on things of greater personal importance, is not laziness. This is hard for most to accept, because our culture tends to reward personal sacrifice instead of personal productivity.

Emphasize strength, Don’t fix weaknesses

It is far more lucrative and fun to leverage your strengths instead of attempting to fix all the chinks in your armor. The choice is between multiplication of results using strengths or incremental improvement fixing weaknesses that will, at best, become mediocre. Focus on better use of your best weapons instead of constant repair.

Dreamlining, Elimination and Liberation

Dreamlining

List up to 5 things you dream of having, (including material wants, house, care, clothing), being and doing. Do not limit yourself.

Elimination

One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity.

Liberation

Liberating yourself means you would have to automate most of the things.

License a product

There are two parties involved in a licensing deal, and a member of the New Rich could be either. First, the is the inventor of the product, called the “licensor”, who can sell others the right to manufacture, use or sell his or her product, usually for 3–10% of the wholesale price (usually around 40% off retail) for each unit sold. Invent, let someone else do the rest, and cash checks. Not a bad model.

  1. Do not offer multiple shipping options. Offer one fast method instead and charge a premium.
  2. Do not offer overnight or expedited shipping.
  3. Eliminate phone orders completely and direct all prospects to online ordering.
  4. Do not offer international shipments. Spending 10 minutes per order filling out customs forms and dealing with customer complaints is not fun.
  1. Higher pricing attracts lower-maintenance customers (better credit, fewer complaints/questions, fewer returns, etc.) It’s less headache. This is huge.
  2. Higher pricing also creates higher profit margins. It’s safer.

Comfort Challenge

Get phone numbers. Being sure to maintain eye contact, ask for the phone numbers of at least two (the more you attempt, the less tressful it will be) attractive members of the opposite sex on each day. Go to a mall if you want to get some rapid-fire practice — three people in a row within 5 minutes.

Good marketing goes a long way

Niche is the new big. Here’s the secret: It’s possible to niche market and mass sell. iPod commercials don’;t feature dancing 50-year-olds, they feature hip and fit 20s to 30s but everyone and his grandmother wants to feel youthful and hip, so they strap on Nanos and call themselves Apple users. Who you protray in your marketing isn’t necessarily the only demographic who buys your product -it’s often the demographic that most people want to identify with or belong to.

Sarawak Blogger

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