Cliff Notes of the Lifestyle Design Bible
It's been a month or two since I picked up the book The Four Hour Work Week by Timothy Ferriss and in short, the book has totally transformed my life. I have re-read it at least 2 or 3 times and am now going through the book, chapter by chapter, taking on his challenges and really implementing his advice into my life, both business and personal.
What I like about Tim is that he speaks from success, from a place of strong business acumen and with practical wisdom. He doesn't feed you garbage because it sells and he's packaged it nicely. He doesn't just talk about one aspect of your life either. He realizes the importance of balance and well-roundedness. To put it simple, he sells quality.
The ideas are phenomenal and practical. They make a light go off in your head and heart that, despite your best efforts, you can't shut off. We sometimes refer to that as God, the truth, life, your subconcious, etc. However you choose to name it, it's there because it's important and it's persistent because it's right.
If you have yet to pick up the book, go get it now! If you want to refresh your memory a bit, check this out as a refresher mini course and enjoy!
To Your Success,
***Disclaimer: The majority of what follows is a compilation of quotes from Tim Ferriss' book, The Four Hour Work Week. Credit for the following is given to author Timothy Ferriss.
4HWW Muse Guidelines
Goal: create automated vehicle (muse) for generating income w/o consuming time
1- Must be product based
2- Cannot take more than $500 to test
3- For people who want to own business and not spend time on them
4- Must be automated within 4 weeks
5- Cannot require more than 1 day/wk of management
4HWW 10 Commandments
1- Retirement is worst-case scenario insurance
Retirement planning is like life insurance. It should be viewed as only what would happen (very prolonged retirement, i.e. working for 45 years) if the worst case scenario came up, which translates to becoming physically incapable of working and needing a reservoir of capital to survive.
2- Interest and Energy are Cyclical
Alternate periods of rest and activity are needed to survive, let alone thrive. Capacity, interest and mental endurance all wax and wane. Plan accordingly. Solution = distribute mini-retirements throughout life instead of waiting till the very end of you life. Work when you are only most effective and thus life is more productive and enjoyable.
3- Less is not Laziness
Doing less meaningless work, so that you can focus on greater personal importance, is NOT laziness. For many, more time (e.g. hours at job), equal greater self-worth. Not the case.
New definition for laziness: to endure a non-ideal existence, to let circumstance or others decide life for you, or to amass a fortune while passing through life like a spectator from an office window.
Be productive instead of busy.
4- The Timing is Never Right
For all the most important things, the timing always sucks. If it's important to you and you want to do it "eventually", just do it and correct course along the way.
5- Ask Forgiveness, Not Permission
If it isn't going to totally devastate those around you, try it and ask forgiveness later. If the potential damage is moderate or in any way reversible, do not give people the chance to say no.
6- Emphasize Strengths, Don't Fix Weaknesses
Most people are good at a handful of things and utterly miserable at most. 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 strength or incremental improvement fixing weaknesses. Focus on better use of your weapons instead of on constant repair.
7- Things in Excess Becomes their Opposite
It is possible to have too much of a good thing. In excess, most endeavors and possessions take on the characteristics of their opposite. Thus:
Pacifists become militants
Freedom fighters become tyrants
Blessings become curses
Help becomes hindrance
More becomes less
Lifestyle design is interested in creating positive use of free time as opposed to an excess of idle time, which can be poisonous.
8- Money Alone is NOT the Solution
People busy themselves with the routine of the money wheel, pretending that more money is the fix-all and thus artfully create a constant distraction that prevents you from seeing just how pointless it is. More money is not the solution as often as we would like to believe.
9- Relative Income is More Important than Absolute Income
Absolute income only measures money (the dollar). Thus, if Jane makes $100k a year, $!00k is the only value that absolute income produces. Jane works 40+ hours per week with 2 weeks vacation.
Relative income measures money AND time. John Doe makes $50k per year, but only works 10 hours per week and thus make A LOT more than Jane.
Thus, relative income is a better gauge all around.
10- Distress is Bad, Eustress is Good
Healthy stress (eustress) is the stress we use to exceed our limits and step out of our comfort zone or to train physically. This is good stress as it promotes positive change. Distress refers to harmful stimuli tha tmake you weaker, less confident and less able. How much distress do you have in your life?
The New Rich are equally aggressive at removing distress and finding eustress.