Serial Entrepreneur & Ultravagabond
Timothy Ferriss, author of the 4 Hour Work Week, is a self-described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now.
Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Albert Pope, derivatives specialist at UBS World Headquarters, has called him “Indiana Jones for the digital age”.
This exciting book has been number one on three different best seller lists: Wall Street Journal, NY Times and BusinessWeek.
Replace Obsolete Assumptions
His basic premise is that we need to replace outdated assumptions with the “Rules of the New Rich” and enjoy life now.
Online Businesses need to replace limiting assumptions and their owners need to learn how to enjoy life now. We need to be able to manage our businesses, and our lives, from anywhere, anytime.
The New Rich (NR) believe that time and mobility are the most precious commodities.
Rules of the New Rich
According to Ferris, the “Rules of the New Rich” include the following:
- Retirement is Worst-Case Scenario Insurance
- Interest and Energy are Cyclical
- Less is Not Laziness
- The Timing Is Never Right
- Ask for Forgiveness, Not Permission
- Emphasize Strengths, Don’t Fix Weaknesses
- Things in Excess Become the Opposite
- Money Alone is Not the Solution
- Relative Income is More Important than Absolute Income
- Distress is Bad, Eustress is Good
The 4HWW Model
His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:
- Live like a millionaire
- Free time and automate income
- Outsource our lives to overseas virtual assistants for $5/hour
- Travel the world without quitting our jobs
- Eliminate 50% of our work in 48 hours
- Trade a long-haul career for short work bursts and mini-retirements
He uses the DEAL acronym to describe his model, where:
- D = Definition
- E = Elimination
- A = Automation
- L = Liberation
He encourages us to use “Dreamlining” to design our own luxurious lifestyles. We need to focus our current efforts on elimination, simplification and outsourcing if we want to find ourselves among the New Rich (NR).
Ferriss’ 4 Hour Workweek model relies upon the Lifestyle Design (LD) process including both art and science. Another key component of the lifestyle design process is automation, i.e., building a system to replace ourselves as bottlenecks. But never automate something that could be eliminated, and never delegate something that could be automated or simplified.
Carpe Diem!
Courage and self-confidence are the necessary ingredients for realizing our lifelong dreams. Having choice; i.e., our choice is our real power.
This is a very compelling book and presents a plan that is easy to understand and apply.
This book demonstrates that it is possible to realize our lifelong dreams – cheaper and easier than we had previously believed. I plan to implement many of his ideas into my own life.
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