Web 2.0 Keynote | Tim Ferriss

he’s been interviewing high-performing people for the past couple of years and he’s here to talk about his book and his findings please welcome Timothy hi everyone this is going to be the anti-tech presentation of the evening I want to talk about cultivating extreme selective ignorance in a digital world where the the norm is infinite interruption and infinite minutia I’m not going to spend too much time on the problem because I think it’s well known this is how I used to feel every time I checked email and how I still feel every time I’m forced to hear another done I’m a story so I’ve spent the last two years traveling through about 20 countries interviewing high performers both entrepreneurs and employees in a digital world and this is the finding less is more there’s there’s no possible way you can consume an organizing amount of information you would like to so I’m going to discuss a few key findings that you can apply as soon as you leave this today the first is called batching and in brief batching is performing like tasks at set intervals between which you let them accumulate so in my case I received 1500 to 2000 email a week I run a country that has distribution in about 15 countries and I check my business an email once every 10 to 14 days at this point I don’t expect you to get that extreme about it but what I’d recommend you do is design an autoresponder there applies to everyone who sends you an email or a number of contacts that says dear all I’ll be responding to email twice per day due to increased workload at 11am and 4pm if you require a response before one of those two times please call me on my cell phone 555 555 555 use your real cell phone if you have one thank you very much for understanding and that gives you the breathing room to focus on the important as opposed to manufactured emergencies all right and the big question is of course what if I missed something well technically you’re giving people a way to get in touch with you so usually nine times out of ten it’ll be someone else’s fault but from a practical standpoint I’ve in the last six years never had a problem that cost more than five hundred dollars to fix but I’ve had hundreds of thousands of dollars of additional revenue booked as a result of establishing this practice in my own company among even my employees so I’d encourage you to implement that sooner rather than later the second principle that you can embrace is the 8020 principal or Pareto’s principle but instead of applying its activities so what are the twenty percent of activities that yield eighty percent of my desired results you’re going to apply to people so what are the twenty percent of the people in my corporate life or personal life who consume eighty percent of my time and we can talk about bosses and colleagues but it takes more time so go to my website but as it relates to clients and suppliers this is how I applied it so I had 120 wholesale customers worldwide and they consumed about 60 hours a week I did an 8020 analysis and I realized that five out of 120 customers were contributing more than ninety five percent my profit and they were not the same twenty percent they were consuming eighty percent of my time so in the worst cases I fired a number of customers i said if we’re going to continue to do business we need to do it along these following guidelines and in other cases I put most of my minimally productive customers on autopilot so I wouldn’t chase them i wouldn’t call them to ask them how they were doing if they’ve placed an order fine otherwise i would limit my contact and i wouldn’t encourage you to do the same they’re there again case studies you can find the weights on the website the third thing that I’d like to talk about is outsourcing your life so I have somewhere between 20 and 40 MBAs and india and croatia in other places that essentially run my life for me and they cost four to five dollars an hour so and that’s a good market value and even people in english-speaking Canada who also cost five dollars an hour so in case the English is a concern and what I’d encourage you to do is really calculate the value of your time so if if you make 50 grand a year for example chop off the last three zeros divide that 50 in half you make twenty-five dollars an hour that’s the fastest way to figure out how much you make per hour if you can pay someone fifty percent of that amount or less try to outsource the most the most common tasks or the most time consuming so any type of data gathering any type of online research creating spreadsheets creating prospect lists all that can be outsourced I have people in multiple time zones so I have people who I can actually call on a skype number during the day or I can give it to them at five pm and when I come in the next morning at 9am that work is all done it’s and it’s in my inbox so look at sites like get Friday com get Friday com gives a free 7-day trial of outsourcing so knock yourselves out and you can also go to Elance workaholics for higher things like that we’re galaxy for higher calm and and just look for virtual assistants and the the last piece of this puzzle which is so self-evident but so universally ignored is that to establish work-life separation which I would encourage you to think about as opposed to balance which implies blending you need to plan life you need to schedule life so if you just roll out of bed late on a Saturday and you decide you’re going to check email for a second like having one potato chip you’re going to spend three hours on email so schedule your life well in advance of when you actually want to live it that’s it that’s all the time I have but focus on eliminating information as opposed to trying to consume it and organize it and you’ll be much better off for it thank you very much thank you very much Timothy