Title: The 4-Hour Workweek
Author: Tim Ferriss
Year Published 2007
Kind of Book: Lifestyle Design/Productivity
How strongly I recommend it 6/10
My Impressions I did not like scrapbooky the book was with quotes and columns scattered everywhere, however, there were many key takeaways which I have put into action and I'm glad I read it.
Date Read Jan 2021
Practical Takeaways
Whenever you find yourself on the side of the majority, it is time to pause and reflect.-Mark Twain
(Business) find a market before designing a product
Learn the rules like a pro, so you can break them like an artist-Pablo Picasso
If everyone is defining a problem or solving it one way and the results are subpar, ask yourself "What if I did the opposite?"
View retirement planning as nothing more than a hedge against the absolute worst-case scenario
Focus on being "productive" instead of "busy"
If you really want to do something, just do it and correct course along the way. (someday never happens)
Don't make pro and con lists
Ask for forgiveness, not permission
Focus on emphasizing your strengths, not fixing weaknesses
Contact 3 seemingly unreachable people (eg. J-lo, Tim Ferriss) and get one to reply to your 3 questions
Fish where the fewest go
Do not overestimate the competition and underestimate yourself
Go for the 10s, not the 8s (they are actually easier to get)
Don't ask yourself "What do I want?" (it's too imprecise a question)
Follow your excitement. Ask yourself "What would excite me?"
Look at people 15-20 years ahead of you in the field you are pursuing and ask yourself if you want to do that
Think of boredom as failure, not failure as failure
Start a relationship with a mentor
Find a personal email (if possible) look on their blogs
Send a 2-3 paragraph email which explains that you are familiar with their work, and ask one simple-to-answer, but thought-provoking question related to their work or life philosophy
Only set goals 3-6months out. No longer
If you need to research something for a goal or project, get in touch with someone who knows the answer rather than spending a ton of time trying to find it online
Practice gazing into the eyes of the people you pass on the street
Don't work for work sake
Go on a low-information-diet
3 times a day at scheduled times ask yourself
Am I being productive or just active?
Am I inventing things to do to avoid the important?
Create a To-do list AND a No-To-do-list
(evening routine) make a to-do list for the next day in the evening
Make sure there are never more than 2 mission-critical items to complete each day
Don't eat while writing
Learn to propose: when someone asking "where should we…what should we… how should we…" Offer a solution. Don't ask "Well what do you want to do?" (eg. How about Chinese?)
Don't read too much and use your brain too little-Albert Einstein
Be selectively ignorant of some things (There are many things of which a wise man might wish to be ignorant-Ralph Waldo Emerson
Increase your output, decrease your input
(Evening routine) Read an hour of fiction before bed
(voting) email educated acquaintances who follow politics closely. Ask them who they voted for and why
(advice) Only listen to accounts that are "how I did it" and autobiographical. No speculators or wannabes
Only read the sections of the book that are relevant to your immediate next steps
Call and email authors you like with specific questions
Learn to ignore things (one of the great paths to inner peace)-Robert J. Sawyer
Go on a one-week media fast
Do not read more than one fact-based book at a time
Ask yourself "will I definitely use this information for something immediate and important?"
Focus on "just in time" information, not "just in case" information-Kathy Sierra
Practice the art of nonfinishing
If you are reading something that sucks, put it down and don't pick it back up
If you are watching a movie worse than Matrix 3 get the hell out of there
If you're full after being half done with the portion, put the fork down
Be the chess player, not the chess piece-Ralph Charell
Learn to be difficult when it counts
(email) check email twice a day only. 12pm and 4pm
Never check email first thing in the morning
Complete your most important task before 11am
Create an email auto response that says the two times you check email
(answering unknown numbers) "Hello this is Zach speaking?" "I'm in the middle of something what's up?"
(phone) don't encourage people to chit chat. Get them to the point immediately
Have work people contact you in this order: email, phone, in person
Respond to voicemail with email whenever possible
Instead of asking "can you meet at 4pm?" write "Can you meet at 4pm? If so… If not, please advise three other times that work for you."
Define an end time for meetings
Give people the chance to prove themselves//children, employees, students
(when asking a request) say "Is that reasonable?" A: it's hard to before to label things as being unreasonable
(Employees) Empower others to act without interrupting you
Earn dollars, live on pesos, compensate in rupees
Take baby steps toward paying others to do work for you
Never automate something that can be de eliminated
Never delegate something that can be automated
Use autoresponders to FAQs for customer service questions
Make sure your delegated tasks are time consuming and well-defined
Hire a VA firm or Vas with backup teams instead of sole operators
If your VA will be accessing websites on your behalf, create a new unique login and password to be used on those sites
Never use debit cards for online transactions or with remote assistants
(VA) request someone whose English is "excellent" and indicate that phone calls will be required (even if not)
Ask Vas to rephrase tasks to confirm they understand before getting started
Outsource the things that cause you the most frustration or boredom
(giving criticism) Use the criticism sandwich
Set it and forget it
Pigeonhole yourself-Joan Chen
Be a member of your target market
Look at the things you own or have purchased and ask yourself "What groups of people purchase the same?"
Make your product or service between $50-$200 A: too high and they will want to speak to someone over the phone before buying
Aim for an 8-10x markup
Price high then justify
Make sure your product takes no more than 3-4 weeks to manufacture
Aim for 1-2 weeks from order placement to shippable product
Contact manufacturers who specialize in the type of products you're considering
Choose a product to sell that you can fully explain in a good FAQ
Sell information products rather than physical products A: they are low-cost, fast to manufacture, and time-consuming for competitors to duplicate
Just make sure you know more than the purchaser to be an "expert" it doesn't have to be a lot more
Create the content yourself, often via paraphrasing and combining points from several books on a topic OR compensate an expert to help you co-create content
Ask yourself "what skills are you interested in that you—and others in your market—would pay to learn?" Become an expert in this skill yourself and then create a product to teach the same
Use your own personal failure to success story to sell your product to others
(To become an expert in your field) Join 2-3 related trade organizations
(To become an expert in your field) Read the 3 top selling books on your topic and summarize each on one page
(To become an expert in your field)Give one free 2-3hr seminar at the closest well-known university, using posters to advertise. Then do the same at branches of 2 well-known big companies. Tell the companies that you've given seminars at X or Y college and are a member of the trade organizations from step one. Emphasize that you will not be selling products and are doing it for additional speaking experience outside of academia. Record the seminars from two angles for later potential use as a CD/DVD product
(To become an expert in your field) Offer to write 1 or 2 articles for trade magazines related to your topic, citing you have spoke at X University and X Business
(To become an expert in your field) Join Profnet. A service journalists use to find experts to quote for articles
Call one of your mentors. Call before 8:30am or after 6pm. Have a single question in mind to ask. One you have researched, but don't know the answer to.
(when calling mentor) ask for him/her by their full name
(when calling mentor) Make it clear that you are nervous when calling (eg. "I finally built up enough courage to call…") do this even if you aren't nervous A: they will lower their guard
(when calling mentor) ask them to "help" you do something
(when calling mentor) end the call opening the door for future contact. (eg. Email)
*Resource for finding the number of monthly visitors for most websites Compete.com and quantcast.com
*Resource for recording phone calls and skype conversations ecamm.com/mac/callrecorder/
*Resource video editing for online course. Jingproject.com or dimdim.com
Don't rely on focus groups
To get an accurate indicator of if your product will or won't sell don't ask if people would buy, do some tests and see if people buy
(To see if someone is already selling your product/service) Google the top terms someone who type to try to find the product/service (eg. Yoga for hikers)
Differentiate yourself from your competitors by
1.Using more credibility indicators (testimonials, awards, degrees)
2.Creat a bigger guarantee
3.Offer a better selection
4.Offer free or faster shipping
Collect advertisements that have made you make purchases and study them
(testing product viability) Create a test website. When people click to buy, have a message saying "Unfortunately, we are currently on back order but will contact you as soon as we have product in stock. Thank you for your patience." Count the number of purchases you get.
Have each page of your website only have one option, so you know the reason they didn't buy (eg. Price was too high,
Create a downloadable pdf with Top 10… in exchange for an email address
Examine what percentage of visitors leave the site from which pages
Set up a merchant account through your bank and Authorize.net to process credit cards
Bargain with street vendors near closing time//farmers markets, souvenir stands
*Resource for stock photos for a website or product gettyimages.com
*Resource for AB website testing google website optimizer google.com/websiteoptimizer
*Resource web traffic analytics crazyegg.com
*Resource for new logo 99designs
Once you have a product that sells, create a business architecture that runs itself
Start with the end in mind
When calculating your profit margins account for unforeseen expenses. Ie. Add a little more onto expenses
(Creating FAQ for your buisness) put your phone number for both order-taking and general questions at the beginning. Notice the most common questions and create an FAQ. Then get rid of your phone number.
Use your FAQ as the main material for training phone operators and developing sales scripts
(Creating FAQ) save your email questions and responses to customers in a folder called "customer service questions" Use these to help make your FAQ
Personally pack and ship all products at first to determine the cheapest options for both
(Choosing a call center) get several 800 numbers they answer for current client and make test calls, asking difficult product related questions at different times of day. Note wait time. Phone should be answered within 3-4 rings and wait time should be 15 seconds max
Only Offer one or two purchase options (eg. Basic and premium) ( any more will result in indecision and fewer sales)
Do not offer multiple shipping options. Offer one fast method instead and charge a premium
Do not offer overnight or expedited shipping A: this will result in anxious phone calls and more customer service bills and hassle
Eliminate phone orders completely and direct all prospects to online ordering
Do not offer international shipping A: custom forms take a long time and product will cost between 20-100% more between shipping, tariffs, and customs charges
Think of customers as an equal. Someone who benefits the same as you from doing business with you. Not as an infallible person who should be pleased at all costs//sim. Game w/ women
Be professional but never kowtow to unreasonable people
Don't accept Western Union or checks as payment
Do not accept orders from common mail fraud countries like Nigeria
Offer low-priced products instead of free products to capture contact information for follow-up sales.
Make your customer-base an exclusive club and treat the members well once they've been accepted
Offer a 110% guarantee, not just a money back guarantee (eg. If these shirts are not the most comfortable you've ever worn, return them and get 2xs your money back) (if your product delivers, most people are honest)
Put multiple email and phone numbers on your website that all forward to your email. (eg. HR, sales, Media/PR) A: this will make it seem like you are a legitimate company
Give yourself the title of VP or director. ( CEO screams start-up. Also, for negotiation purposes it helps to say you're not the final decision maker)
Do not provide your home address on your website. Use a PO box if you need to
(getting out of comfort zone) lie down on the ground in public. Don't explain it. Say "I felt like lying down for a second"
(to convince boss to let you work from home) Be a little less efficient in week before experiment. Be super efficient at home. Show boss bullet point list of how much more work you were able to get done without distractions commute time of the office etc. Only suggest 2 days off a week at first. Work your way off to full time
Ask for an inch and turn it into a foot
Ask for a free first-class upgrade
Ask for compensation if you encounter poor service at a restaurant
(Questions for getting past "no") "Have you ever made an exception?"
(Questions for getting past "no") "Under what circumstances would you (desired outcome)?"
(Questions for getting past "no") "I'm sure you've made an exception before, haven't you?"
(Questions for getting past "no") "Why not?"
Don't let bad decisions from the past keep you from making good decisions now
Quit things that don't work
(what to do) Have a new job or source of cash flow before quitting your current job
Remember that very few decisions aren't reversible
Double your rate of failure (Formula for success)-Thomas J. Watson
(Job interview) when asked about the gap in your resume. "I had a once in a lifetime opportunity to (exotic and envy-producing experience) and couldn't turn it down. I figure with (---years) of work to go, what's the rush?"
Don't wait until you need options to search for them
Even if you have no immediate plans to leave your job, post your resume on sites like monster.com and careerbuilder.com using a pseudonym if you prefer
*Resource: insurance for self-employed or unemployed Ehealthinsurance
Take the usual 20-30year retirement and redistribute it throughout life instead of saving it all for the end"
Think of your mini-retirement as a reexamination of your life, not an escape from it
Take 3-4 mini retirements per year
Don't assume places abroad are more dangerous than your hometown
Use credit cards with reward points
(travel) purchase plane tickets far in advance (three months or more) or last minute (last 4-5 days before trip)
(travel) aim for departure and return between Tuesday and Thursday A: cheapest
*Resource travel Orbitz.com Kayak.com for flights
(Travel) take less with you
(Travel) Allocate 100-300$ for purchasing things you might need when you get to your destination
(Travel) Pack a weeks worth of clothing tops
(Travel) don't pack toiletries
(Travel) unless you're a writer, don't bring a laptop
(Travel) bring $200 worth of small bills in local currency
(Travel) pack small cable bike lock for securing luggage in transition and hostels
(Travel) Have backup photocopies or scanned copies of all important documents: health insurance, passport, visa, credit cards, debit cards
(Travel) bring one broad strokes travel guide
Don't know too much before you start ( boredom comes as quickly to the traveler who knows his route as to the novelist who is overcertain of his plot)-Paul Theroux
(Travel) choose a starting destination and wander until you find a city you want to settle in for awhile
(Travel) Travel internationally ( if you only travel in your own country you will be surrounded by those who carry the same cultural baggage)
(Travel) check the U.S. Department of State for travel warnings before booking tickets
(Travel) for vagabonding virgins avoid: Africa, the Middle East, Central or South America, Mexico City
Eliminate belongings you have that cause stress in your life
Ask yourself "If I had a gun to my head and had to do it, how would I do it?"
(Travel) rent out your place while vagabonding
(Travel) check current health insurance coverage for extended overseas travel
(Travel) speak to the manager of your local post office and have all mail forwarded to a friend, family member, or personal assistant. Pay them $100-$200 a month to email you brief descriptions of all nonjunk mail each Monday
(Travel) Get all required and recommended immunizations and vaccinations for your target region www.cdc.gov/travel/ Make sure you have your proof of immunizations with you
(Travel) Make an outgoing voicemail "I am currently overseas on business. Please do not leave voicemail, as I will not be checking it while gone. Please send me an e-mail at _____. Thanks for your understanding."
(Travel) book a hostel for your starting point.
(Travel) move all things out of your home or apartment into storage
(Travel) purchase local health insurance. Ask hostel owners and other locals what insurance they use
(Travel) don't buy souvenirs or other take-home items until two weeks prior to departure
Travel Resources: virtualtourist.com gridskipper.com lonelyplanet.com perpetualtravel.com/rtw
Resource: Packing light Onebag.com
Resource: Universal currency converter xe.com
Resource: cheap and round the world airfare orbitz.com kayak.com sidestep.com top20.travelzoo.com priceline.com cfares.com 1800flyeurope.com ryanair.com
Resource: Free worldwide housing globalfreeloaders.com courchsurfing.com hospitalityclub.org
Resource: Hostels hostels.com hotelchatter.com
(Travel) when booking a hostel think location and reviews instead of amenities
Resource: apartments abroad Craigslist or interhome.com
Decide on a day of the week to batch tasks. Check email, online banking, etc. Stick to it!
(buying house or apartment) Don't commit to more than one month until you've slept there
(Travel) ensure that whichever phone you purchase is "unlocked" ie. That the SIM card can be swapped out in different countries with different providers.
(Travel) use a Nokia phone for international travel
Resource: for travel writing work writtenroad.com
Resource: for teaching English
Resource: for overseas work workingoverseas.com
Resource: working on organic farms wwoof.org
Before spending time on a stress-inducing question ask yourself
1.Have I decided on a single meaning for each term in this question? A: Most questions without answers are just poorly worded.
2.Can an answer to this question be acted upon to improve things?
If you can't define it or act upon it, forget it.
(Travel) don't travel somewhere until you decide what thing you want to learn there. Pick one kinesthetic skill (eg. Dog sledding in Alaska) and one language to learn
(Travel) learn the language of the place you are traveling to
(Travel) choose to learn a skill with a built in social circle around it
Do something that improves life besides your own
Don't partake in "my cause can beat up your cause" arguments
Improve the world in whatever way you define improving the world
Make your mini-retirement six months or more (focus on learning and serving)
(what to do) Ask yourself "What makes me most angry about the state of the world?"
(what to do) Ask yourself "What am I most afraid of for the next generation?"
(what to do) Ask yourself "What makes me happiest in life? How can I help others have the same?"
Don't work for work's sake
Have a separate environment designated solely for work
(Procrastination) Take the thing that has been on your to do list longest and tomorrow morning don't allow interruptions or lunch until you finish
Don't think you have to recoup losses the same way you lose them
Every week have at least one 2-3 hour dinner or drink with someone who makes you smile or feel good
If you have a strong informed opinion don't keep it to yourself
Eat a high-protein breakfast within 30 minutes of waking
Keep old resolutions rather make new ones A: its usually better to keep old resolutions than to make new ones
Don't water down branding to appeal to everyone
Make sure the advertising works the first time. Don't listen to companies that say it will take a while if returns aren't good right away A: good advertising works the first time
(Negotiation) Never make the first offer when purchasing
(Negotiation) flinch at the first number the other side makes followed by silence until they make another offer
First Day upon arrival when traveling
(Morning and afternoon) Take a hop-on-hop-off bus tour of the city followed by a bike tour to scope out potential neighborhoods to live in
(late afternoon) Purcahse an unlocked cell phone with a SIM card that can be recharged with simple prepaid cards
(late afternoon) eamil apartment owners or craigslist for viewing apartments over the next two days
Second or Third day
Find and book an apartment for one month
Don't commit to more than one month until you've slept there
Big Ideas
More is not better, and stopping something is often 10 times better than finishing it. Pg93
The more options you offer the customer, the more indecision you create and the fewer orders you receive.
Those who spend the most complain the least.
Quitting is not permanent.
Too much free time is no more than fertilizer for self-doubt and assorted mental tail-chasing.
When we don't have something we are working towards the mind starts to create problems to solve.
Most questions without answers are just poorly worded.
Perfect products delivered past deadline kill companies faster than decent products delivered on time.
Many a false step was made by standing still -Fortune Cookie
What we fear doing most is usually what we most need to do.
The fishing is best where the fewest go.
Doing the unrealistic is easier than doing the realistic.
Being busy is most often used as a guise for avoiding the few critically important, but uncomfortable actions.
Being busy is a form of laziness—lazy thinking and indiscriminate action.
Lack of time is actually lack of priorities.
Surprising Facts
Fewer than 5% of the 195,000 books published each year sell more than 5,000 copies.
Unknown Terms
Eustress (pronounced you-stress): means beneficial stress—either psychological, physical, or biochemical/radiological. The term was coined by endocrinologist Hans Selye
Puppy dog close: a type of close in sales where the salesman offers the client a chance to try it or take it home for a given amount of time and if they don't like it they can return it at no cost
Batching: The productivity technique of doing a bunch of similar tasks at the same time, rather than spread out (eg. Doing all of your errands on the same day of the week)
Profit Margins: conveys the relative profitability of a firm or business activity by accounting for the costs involved in producing and selling goods.
Licensor: a person who gives another a license, particularly a private party doing so, such as a business giving someone a license to sell its product.
800 pound Gorilla: an American English expression for a person or organization so powerful that it can act without regard to the rights of others or the law. The phrase is rooted in a riddle joke: "Where does an _____ sit?" [The answer: "Anywhere it wants to."]
Kowtow (pronounced cow toa): in Cantonese Chinese, is the act of deep respect shown by prostration, that is, kneeling and bowing so low as to have one's head touching the ground. In Sinospheric culture, the ____ is the highest sign of reverence.