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. His provocative book has been a #1 Wall Street Journal Best Seller, a #1 NY Times Best Seller, and a #1 BusinessWeek Bestseller.
Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Ferriss has been called “Indiana Jones for the digital age”.
His basic premise is that we need to replace many, if not most, of our current assumptions and apply what he calls the Rules of the New Rich.
Online Businesses need to replace limiting assumptions and learn to enjoy life now. We want to be able to manage our businesses, and our lives, from anywhere, anytime.
Ferriss encourages us to abandon deferring a luxurious lifestyle and building one now, using the currency of freed time and increased mobility. The Lifestyle Design (LD) process is both an art and a science.”
His model provides us with a roadmap for realizing your dreams. He shows us how to:
* Live like a millionaire
* Free time and automate income
* Outsource your life to overseas virtual assistants for $5/hour
* Travel the world without quitting your job
* Eliminate 50% of your 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
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
He encourages us to use “Dreamlining” to design our own luxurious lifestyles. Using principles of elimination, simplification and outsourcing are keys to creating your own life among the New Rich (NR).
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.
This book shows how to recognize and seize opportunities that others miss. Along the way, you’ll come to realize that having choices.e., the ability to choose, is the real power in life.
This book demonstrates that it is possible to realize our lifelong dreams – cheaper and easier than we had previously believed.
I plan to create my own 4-Hour Workweek; how about you. I plan to implement many of his ideas into my own life and am presently automating my income using the Infinite Income Plan.
I recommend you check out Ferriss’ book and his website/blog.
This is a great book that I recommend to every online business owner I know. Both the book, and the website, include extensive resource lists.
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