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4 Hour Work Week Summary: The subtitle of the book is, "Escape 9-5, live anywhere, and join the new rich."
A little perhaps, too good to be true, a little scammy, but is this possible?
But, are most people going to be able to do this?
It's like, can you become in charge of your response?
So imagine you wake up and you spilled coffee on your favorite shirt in the morning, and then you go down to your car, and it doesn't start. Can you become in charge of the response and still be happy? Of course. Are most people going to be able to do that? No.
But, I don't sit here saying, "Well, you know, that means that Viktor Frankl's Man's Search for Meaning sucks and Stephen Covey's The 7 Habits of Highly Effective People is a scam."
With that said, there are certain things that you don't want to be naive about.
Let's say I come to you and say, Hey, I make $30,000 a year. Here's my friend John, he makes a $150,000 a year. Who's richer?
You'll say, Well, of course, John's richer. I mean, He's five times richer than you are.
But is that true? Okay, let's look into that.
What if I told you, I work 10 hours a week, and John works 80 hours a week.
Ooh, what is it now?
It turns out that John actually makes about $36 an hour, and I make $58 an hour. Starting to get interesting.
Well, what if I tell you John lives in New York City, and that's where his job is. He can't live anywhere else because then he won't be able to make that money.
But for me, I don't have to live anywhere. I could be anywhere in the world and still be making that money.
Well, guess what, John's in New York now, and he wants to take his girlfriend out to a fine dining place. He's going to pay $200.
But, in the country that I'm in... when I take my girlfriend out, that's only going to cost $20.
Who's richer now?
Well, in this case, I'm richer than John.
I really want to emphasize this point, so let me exaggerate it a little bit. If I told you, "Hey, come work for me in Breadville, and I'll pay you $5M." You might say, "Yay, I'm going to be making millions!" But then you come to Breadville, and a single piece of bread costs $1M, you're not really rich.
So this is really the foundation of the book.
Yes, in absolute income, John is five times richer than I am, but in relative income, I can be way richer than John is.
So what's the basic idea?
Well, you create a product, and then you sell it - basic entrepreneurship. The idea is that great things happen when you earn in dollars and spend in other currencies.
Now here's the next big thing and a really important part of the book.
Things don't take as much time as we think they should.
Two huge things that you want to keep in mind when you want to be effective are-
A big part of the elimination process is the 80/20 principle.
I used to spend hours and hours every day becoming a part of every website, and everywhere I could put my article on, and then I realized, "Dude, what are you doing? There's only one site that's sending you most of your traffic." So literally, I turned something that I did for hours and hours into something that I do in 5 minutes now, and I've kept the majority of the results.
The second part is outsourcing.
The book talks about virtual assistants, people who'll do everything for you, schedule things for you, do your email, all of that.
People get very upset about that.
Well, what about my safety? What about the security of my information?
Look, first of all, what were you expecting? You are increasing your reward, so obviously your risk is also going to increase. But even with that, you could do it very intelligently. Get into the habit of outsourcing, even if you don't need it, start doing it.
Often, I'll meet a person, just a fully grown man, and he'll brag about how he cut the grass all day yesterday and saved the money. And I'm sitting there thinking, So your entire day is worth $20, that's it?
So get into the habit of this even if you don't need it. The experience coming from it will be invaluable. You'll learn when you outsource it to the wrong person. When they're not doing the job right, or they didn't get it done by the deadline. You'll definitely learn so many things.
So in conclusion, this is a great book. I would thoroughly recommend reading it. Hope you enjoyed this "4 hour work week summary" and the "4 hour work week review".
Want the book? Get it here: http://amzn.to/2w3P3mA