"The 4-Hour Workweek by Tim Ferriss": Summary & Review.

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"The 4-Hour Workweek by Tim Ferriss": Summary & Review.


If you want to become "new rich" (NR), then you don't need to work harder or smarter; instead, make a system in which you can replace yourself. Get your work done by others, make it work on autopilot, and create a system in which people work for you. You don't want to become a millionaire; you only want a millionaire's lifestyle and freedom.


A story worth sharing: two people catch fishes daily. The first person spends money on his needs and saves some. The second person spends all his money. After one month, the first person hires labor and earns money many folds. Who will be the new rich? The first person, obviously. Rich people are usually best at one thing: take examples of billionaires (Steve Jobs, Bill Gates, Nike founder,...).


Always take feedback from your customers to know what they want. They think of solving people's problems and becoming rich. Focus on your strengths. Effectiveness is way better than efficiency. Doing something effectively is more beneficial than doing many works efficiently.


You think you have no time, but the thing is that you have no priorities. You just need to focus on essentials and important things; you will never have time shortage. Use the 80/20 principle (Pareto principle) and Parkinson's law (you can finish a work in one month that needs 6 months; it is how you set deadlines).


Consume stuff that you can implement immediately (just-in-time learning rule).


So, the author "Tim Ferriss" advises dropshipping (reselling) products and also earning money from "Google AdWords." Buy a product, make it better, then resell it, and sell products of other people to get a commission.


Keep your service prices high (like lectures, books, audio-video teachings) at 400-600$. It will make a high-quality impression.


Life is full of ups and downs, and you are lucky that you are not suffering from any disability. Don't procrastinate, don't leave your important missions unfulfilled because life is unpredictable. There is never a "PERFECT MOMENT" in life.

Given two options, unhappiness or uncertainty, people prefer unhappiness over uncertainty. 

Sell online: sell something online for 10$ to 600 people, you earn 6000$. If you sell it at the price of 20$ to 300 people, you also earn 6000$, and sold at a 60$ price to 100 people, you also earn the same amount 6000$. It is called the 80/20 principle. Your 20% sincere customers will give you full benefit, and your product will be more valuable all the time. To check this method, sell something online to see if your fans want to pay in advance for it, like a book that is not published yet (get it published with their money 🥺). If you have a valuable thing and loyal fans, they will give you money, and if they are not satisfied, they won't complain because they will be rich.


Earn money online in dollars, spend it in cheap countries (even in their cheap cities), and enjoy vacations.


Let others run your business (four hours work week). You will have the business under your control and a lot of spare time.


Running a business eats up your life, so own a business, make systems to run it. If you work online, hiring freelancers from other countries will cost almost nothing (like from India, $5/hour). Don't overload your mind with too much information (stress). Don't read newspapers (stuff that doesn't relate to you); if something important happens in the world, you will come to know from others instantly.

Sell your product online at a high price; it will have a high-quality perception among your fans. Also, promise them with the slogan "MONEY BACK GUARANTEE." Tell them your product's feature in one line: "earn 1000$ in one day." If some customers are not satisfied after purchasing, then it won't affect your product's value. Still, you can sell it to many at a premium price.

Like Apple's first slogan for the iPod was "1000 songs in your pocket," sell them instantly. Don't bother them to choose different variations like colors or designing. The comparison of different variations will exhaust your customers, and there will be fewer chances of selling.

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