He writes about leaving your comfort zone behind, discovering new places in the world with so-called “mini-retirements” and how you can cut down on inefficiency in your own business, leading to a 4-hour workweek. He also talks about how you can live like a millionaire on 50k a year with his relative-income analogy.
This book is indeed a must-read for every entrepreneur out there. So I hope you enjoy some great quotes from the book!
Tim Ferris on doing things you fear.
” What we fear doing most is usually what we most need to do. [...] a person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have. Resolve to do one thing every day that you fear. I got into this habit by attempting to contact celebrities and famous businesspeople for advice.”
How can you achieve happiness?
“The opposite of love is indifference, and the opposite of happiness is – here’s the clincher – boredom. Excitement is the more practical synonym for happiness, and it is precisely what you should strive to chase. It is the cure-all.”
Tim Ferriss on Parkinson’s Law.
“Parkinson’s Law dictates that a task will swell in (perceived) importance and complexity in relation to the time allotted for its completion. It is the magic of the imminent deadline. If I give you 24 hours to complete a project, the time pressure forces you to focus on execution, and you have no choice but to do only the bare essentials. If I give you a week to complete the same task, it’s six days of making a mountain out of a molehill. If I give you two months, god forbid, it becomes a mental monster. The product of the shorter deadline is almost inevitably of equal or higher quality due to greater focus.”
80% of all your inefficiency and problems stems from a small source which makes up to 20%. For example, if a time-consuming customer takes up a lot of time and is only a small part of your overall revenue, you can choose to put the focus on bigger customers instead.
“Pareto’s Law can be summarized as follows: 80% of the outputs result from 20% of the inputs. Alternative ways to phrase this, depending on the context, include:
80% of the consequences flow from 20% of the causes.
80% of the results come from 20% of the effort and time.[...]“
These 4 takeaways are only a small fraction of the content in The 4-Hour Workweek and there are indeed several important points left untouched.
In my personal experience, Tim’s book inspired me to start my own dropshipping-business, start this blog on personal development and helped me cut down on inefficiencies. So I hope this book helps you as much as it helped me!
Thanks for reading..Keep Improving!