4-Hour Workweek Video Summary + Highlights | Tim Ferriss

in the 4-hour workweek find out how you can work a lot less and enjoy life more author Timothy Ferriss explains how to escape the 9 to 5 grind and work just four hours a week life doesn’t have to be so hard it really doesn’t now if you told me that three years ago I wouldn’t have believed you but most people like past self included I’ve resigned themselves to nine to five grind in exchange for sometimes although increasingly less and less relaxing weekends and the occasional one week certainly no more than two week vacation I came to realize that income really has no practical value without time here are a few simple steps you can take to escape the rat race entirely not just win it one of the first steps is the process of elimination so to start you need to consider something called Pareto’s law more commonly known as the 80/20 principle because in order to work less not have everything fall apart you’ll have to quantify the twenty percent of activities that are producing 80 percent of your desired outcomes also take that time to determine the 20 percent of activities and people who are consuming 80 percent of your time use this principle for everything customers work tasks but also for personal chores even for friends the goal here is twofold number one to find your inefficiencies in order to eliminate them and then secondly this is just as important to find your strengths and those critical few tasks so you can multiply your output working every hour every minute from 9:00 to 5:00 for some type of fidget isn’t the goal it’s simply the structure most people use it’s actually a legacy from a time that’s already been obsolesce in a knowledge economy the more important thing is to shift from presence to performance cut out static all the things that consume time and income without contributing back and focus on the critical fuel you’ll find that very few things matter another critical step and a real compliment to elimination is what I call the low information diet or cultivating selective ignorance keeping abreast of all the new developments in any field will consume all of your time it’ll be all input and no output you can’t possibly digest all that information so a more effective approach is to try to catch up when need be as opposed to keeping up at all times a big part of selective ignorance is learning to let things wait for example email so email is a single largest acceptable interruption in modern life and it’s a very convenient way of simulating forward motion without accomplishing anything it shouldn’t be a workspace it’s a tool and one of the easiest methods I’ve seen for controlling email and one that’s become quite popular in Silicon Valley is setting up a simple autoresponder much like a vacation auto response that says something like the following dear all in an effort to actually get work done I’m testing a new email policy I’m checking in responding to email only twice a day at 11 a.m. and 4 p.m. Pacific Time or whatever your timezone happens to be if you need a response before one of these two times for anything urgent please call me on my cell phone thanks for understanding this move to greater effectiveness and efficiency whatever your name this gives you the breathing room finally two single tasks and focus on completing the mission critical tasks the critical few from start to finish without interruption the third important tool I’d like to mention and one of my personal favorites is outsourcing life to get started though we first need to replace the very obsolete concept of annual income is a very deceptive metric with hourly income and people are generally extremely hesitant to delegate or outsource because they feel they can do something free themselves this is very inaccurate so let’s start with a very basic calculation of hourly time if you make let’s say $50,000 per year you cut off less three zeros like just 50 and you divide that in half and you get 25 so you make $25 an hour this is assuming you get two weeks off per year and you’re working 40 hours per week so let’s just say on the very high end that you can hire a personal assistant at 30 dollars per hour to handle one workday of eight hours so your cost per hours and five dollars so his or her 30 – your 25 that means $40 per full 8-hour day of freedom so this also means you can take a three-day weekend every week it will cost you $40 per week I hire virtual assistants around the world which only takes a few hours help me with just about everything from business research to reading email cutting hundreds of email down to four or five that I actually have to deal with to travel product development purchasing planning parties even online dating there are a lot of unorthodox and creative uses personal outsourcing is only limited by your imagination and the return on investment is astounding four hundred five hundred percent even for someone who makes thirty forty thousand dollars a year it’s smart to focus on getting things done but it’s only possible when you actually set your not too so once we remove the constant static and the distraction and focus on the critical few and they’re really just aren’t that many so I hope you enjoy the book and just remember that outside of the law and science all the rules we follow our rules we set ourselves so set yourself up to win and choose your own rules