Tim Ferris has written a revolutionary book that will transform people's lives. The 4-Hour Workweek shows you how to increase your effectiveness in the workplace whether you have a 9-5 job or run your own business. And the ultimate goal is to let the business run on its own so you can fully enjoy life.
Here is a formula he came up with that will help people to create a business that will effectively run on its own, increase cash flow, and free you from working long hours.
- D - Definition
- E - Elimination
- A - Automation
- L - Liberation
Definition: Deals with the 80/20 Principle that asks the reader to determine what is the 20% of effort that can be applied effectively to produce more income & grow your business. He reveals that more customers don't always equal more money, but more housekeeping. One of the revelations he gives is the fact that "We all have 24 hours in a day. I don't need to work 8 hours per day to become a millionaire."
Elimination: Here Ferris talks about disregarding the notion of Time Management. He advises to throw it out and replace it with being more effective rather than effecient. He makes a valid point because many of us, though we are busy, may not be effective. "Working 9-5 isn't the goal," says Ferris, "It's just what everybody else does. He also says you should never arrive at your desk without a clear list of priorities, or else you may become sidetracked. And it's also best to eliminate any tasks that are deemed unnecessary.
Automation: Ferris advises in hiring VAs (Virtual Assistants) outsourced from India. Why? Because they cost less and they will work while you're asleep. Many mundane tasks that can be accomplished on the computer should be delegated to VAs such as research, data processing, and bill payments. For complete automation, employees should be empowered in the decision making process so a majority of the questions are dealt with rather than sent to the business owner. Accomplishing this step leads to...
Liberation: This is the ultimate goal that Tim Ferris wants everyone to reach. He talks about how his system works so well that he only has to check emails for 1 hour every Monday, mainly to see how much cash is coming in, that's it. So what does Tim do with the rest of his time?
Instead of working like everyone else, Tim's DEAL system affords him the freedom to:
- Ski in the Andes
- Scuba Dive in Panama
- Race Motorcycles in Europe
- Dance Tango in Buenos Aires
About Tim Ferris
Tim Ferris is a serial entrepreneur and has been featured in the New York Times, National Geographic Traveler, Maxim, and other media. He speaks six languages, runs a multinational firm, and has been a world record holder in tango, a national champion in Chinese kickboxing, and an actor on a hit television series in Hong Kong. The 4-Hour Workweek is his first book.
 |
