I recommend this with some reservations. The overall concept is great. My only hesitation comes from Ferriss's tendency to push the limits, sometimes...moreI recommend this with some reservations. The overall concept is great. My only hesitation comes from Ferriss's tendency to push the limits, sometimes past ethical boundaries. Otherwise, great read with practical information. The practices recommended in this book have the potential to make the business owner, employees and clients/customers more satisfied with their experiences of the business.
Big Idea: Use Ferriss's techniques to become ultra-effecient, then outsource the rest. End goal: to be free from living in one place working a 9-5.(less)
Read this on the recommendation of a photographer friend who has been able to run his business successfully. This book opened my eyes to practical imp...moreRead this on the recommendation of a photographer friend who has been able to run his business successfully. This book opened my eyes to practical implications of the oft cited fact that as a photographer, I am now a business owner. It forced me to take a hard look at how we structured our business and to evaluate how to install systems that will allow us to grow our business without being overwhelmed.
His BIG IDEA is that many of the individuals who start business are not entrepreneurs (people hoping to build a business to one day sell for a profit as a money making system). Most of these people are the technicians who think they can do a better job since they how to know how to do the work in the business. They relish the idea of being their own boss. Too often this short-sighted approach leads to the business owners buried under the weight of their new boss (the business) that never lets them rest. His conclusion: design your business from the start as if you were going to franchise 2000 more just like it. This will force you to think through all of your systems and positions which you can then train individuals to work in and hand the work over to them. This allows you to maintain quality control while not being overwhelmed with technical work. The final goal is for the business owner to begin to work, more and more ON the business rather than IN it.(less)
BIG THOUGHT: In a marketplace of greed and selfishness, love is the killer app that will allow you to stand out from the crowd. Love, or bizlove, (use...moreBIG THOUGHT: In a marketplace of greed and selfishness, love is the killer app that will allow you to stand out from the crowd. Love, or bizlove, (used here in the more specific context of business) is defined as sharing one's knowledge, networks, and compassion with those who you come into contact with who can benefit from it in their business lives.
The knowledge component means reading as many good books on business (and the specifics of what will help you in your job) as you can. Most of these books should be Big Idea books rather than technical manuals. The benefit of reading these is that you can turn around and share them with others in moments that will change their entire business, solve their problems, and cement you in their mind as a friend who cared enough about them to openly share without expecting any financial compensation in return.
Do the same thing with your networks. Open your iPhone contacts list and forge business connections. Once you've established a strong reputation, seal the relationship with compassion, demonstrating that you are committed to seeing them succeed and will do whatever you can to share your knowledge and connect them to the right people in order to make that happen.
I love the freedom this book offers as an alternative to the common hoarding mentality. I've encountered people living this way and have found myself loving them in return by opening up about business opportunities I've found.(less)