The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich

by Timothy Ferriss

The New Rich (NR) are those who abandon the deferred-life plan and create luxury lifestyles in the present using the currency of the New Rich: time and mobility. This is an art and a science we will refer to as Lifestyle Design (LD).

Too much, too many, and too often of what you want becomes what you don’t want. This is true of possessions and even time. Lifestyle Design is thus not interested in creating an excess of idle time, which is poisonous, but the positive use of free time, defined simply as doing what you want as opposed to what you feel obligated to do.

There should never be more than two mission-critical items to complete each day. Never.

Learning to ignore things is one of the great paths to inner peace.

This is another one that took me a long time to learn. Starting something doesn’t automatically justify finishing it.

Develop the habit of nonfinishing that which is boring or unproductive if a boss isn’t demanding it.

Don’t encourage people to chitchat and don’t let them chitchat. Get them to the point immediately. If they meander or try to postpone for a later undefined call, reel them in and get them to come to the point. If they go into a long description of a problem, cut in with, “[Name], sorry to interrupt, but I have a call in five minutes. What can I do to help out?” You might instead say, “[Name], sorry to interrupt, but I have a call in five minutes.

It’s amazing how someone’s IQ seems to double as soon as you give them responsibility and indicate that you trust them.

His book is all about how outsourcing to India and China is not just for tech support and carmakers but is poised to transform every industry in America, from law to banking to accounting.

Becoming a member of the NR is not just about working smarter. It’s about building a system to replace yourself.

But what about the cost? This is a hurdle that is hard for most. If I can do it better than an assistant, why should I pay them at all? Because the goal is to free your time to focus on bigger and better things.

Eliminate before you delegate. Never automate something that can be eliminated, and never delegate something that can be automated or streamlined.

WITHOUT FURTHER ADO, let me pass the mic. Note that YMII performs both personal and business tasks, whereas Brickwork focuses solely on business projects.

Outsorce to India companies

Be a member of your target market and don’t speculate what others need or will be willing to buy.

Information. Information products are low-cost, fast to manufacture, and time-consuming for competitors to duplicate.

Lacking an external focus, the mind turns inward on itself and creates problems to solve, even if the problems are undefined or unimportant.

Oftentimes, in order to do the big things, you have to let the small bad things happen. This is a skill we want to cultivate.