Yesterday, as I was ranking the Amazon Top 10 Web 2.0 Books, I promised to write another review for the book The 4-Hour Workweek (4HWW). This book is authored by Tim Ferriss. In fact, the book was published in 2007. Therefore, I am not going into the things people will write when they review a book. Instead, I would like to extend the ideas of the book to the Web 2.0 context. In this post, I will illustrate why I think 4HWW has great tips for Internet entrepreneurs (Infopreneurs). So here we go.
A Brief Summary of the Book
The 4-Hour Workweek is about lifestyle design. As far as I am concerned, the author Tim Ferriss is the ultimate master of escaping 9-5, and living a mobile lifestyle. Here are the four main components of this book:
1. Definition – Define what it is that you truly want, stop following the majority, and join the new rich;
2. Elimination – Prioritize things based on its importance. Make a to-do list of the things that matter the most to you and demand great attention from you.
3. Automation – Hire a virtual assistant, and outsource the daily tasks that are not essential to you and require your repetitive efforts.
4. Liberation – Create a streamline process of getting things done without your presence. I like to call it passive residual income. Embrace a mobile lifestyle.
If you have read the book, you know what I mean by those four points. Otherwise, just bear with me as I will draw parallels between 4HWW and an Internet business in the following.
Connecting the Dots
There are mixed reviews about 4HWW. For example, on Amazon, some people say the book is flawed in that it does not specify how to achieve a mobile lifestyle. Most people have no clue when it comes to outsourcing. While the author’s own story is fascinating, most readers don’t know how to do it. In this post, that issue is not my concern and shouldn’t be yours. In the following, I would apply the 4HWW theories to the Web 2.0 context. I have broken it down to specific points below. Here let’s go through each one of them.
- Definition: Look at the Internet new rich, including some very well known blogs such as TechCrunch, Mashable, etc. For them, serving the masses with fresh news content is their mission. They define success as reporting on-time news about social media and tech products. In my case, I define my passion as offering tips about tweeting, blogging, and social media marketing. It’s a great feeling to see other people benefit from your efforts. So first step, you gotta know what it is that you are passionate about.
- Elimination: I am now able to eliminate the tedious tasks I used to have to face everyday while working in Corporate America. My lifestyle now is designed to grow my business or increase the traffic on my site. Everyday is a new day with something to learn. Most importantly, I don’t have to worry about doing the non-relevant tasks that are considered a waste of my time. The ability to eliminate gives you the joy and power to concentrate whatever appears most essential to you.
- Automation: In the Web 2.0 era, “automation” basically means having other people pay you while you enjoy what you do. If you are a blogger, the traffic you are able to accumulate on your site eventually will bring you sponsors, potential customers, or even opportunities to speak at major conferences. In other words, automation enables you to enjoy passive residual income.
- Liberation: This is the dream of every Internet Entrepreneur. After your Web business has got to certain scale, you’d be able to free up your time by hiring people or even using high-end sofoware. For example, if you have tons of photos to upload to Flickr everyday, they can outsource it to an overseas assistant. Let’s say, someone in Philippine. In my case, I have a Meetup group. I would love to have someone help me handle the administrative tasks, such as replying emails and answering phone calls.
Some Extra Things That Have Inspired Me
If you followed me on Twitter, you would know I am a fan of personal development. I love to tweet quotes every now and then to share with my Twitter community. Tim Ferriss has some great quotes that I’d like to share with you here.
“Whenever you find yourself on the side of majority, it is time to pause and reflect.” – Mark Twain
“Anyone who lives within their means suffers from a lack of imagination.” – Oscar Wilde
“An expert is a person who has made all the mistakes that can be made in a very narrow field.” – Niels Bohr
“If you can free your time and location, your money is automatically worth 3-10 times as much.” – Tim Ferriss
“Once you say you’re going to settle for second, that’s what happens to you in life.” – John F. Kennedy
“If it’s important to you and you want to do it ‘eventually,’ just do it and correct course along the way.” – Tim Ferriss
“Action may not always bring happiness, but there is no happiness without action.” – Benjamin Disraeli
“Nine to five for your working lifetime of 40-50 years is a long-ass time if the rescue doesn’t come. About 500 months of solid work.” – Time Ferriss
“Tomorrow becomes never. No matter how small the task, take the first step now!” – Tim Ferriss
“It is far better for a man to go wrong in freedom than to go right in chains.” – Thomas H. Huxley
“What man actually needs is not a tensionless state but rather the striving and struggling for a worthwhile goal, a freely chosen task.” – Viktor E. Frankl
“If you don’t make mistakes, you’re not working on hard enough problems. And that’s a big mistake.” – Frank Wilczek
If you have read the book, I would like to hear what you think about 4HWW. Do you think there are enough parallels to draw between an Internet business and 4HWW? Please share your comments below.
