hello believe nation I started the mentum e-series with the goal to learn
mentum e-series with the goal to learn
mentum e-series with the goal to learn from people who’ve done a lot more than
from people who’ve done a lot more than
from people who’ve done a lot more than us who’s who had great success and try
us who’s who had great success and try
us who’s who had great success and try to hang around them just a little bit
to hang around them just a little bit
to hang around them just a little bit longer so that some of their mindsets
longer so that some of their mindsets
longer so that some of their mindsets motivations attitudes seep in to us to
motivations attitudes seep in to us to
motivations attitudes seep in to us to help us become the best version of
help us become the best version of
help us become the best version of ourselves so today we’re going to learn
ourselves so today we’re going to learn
ourselves so today we’re going to learn from Tim Ferriss about 4-hour workweek
from Tim Ferriss about 4-hour workweek
from Tim Ferriss about 4-hour workweek mentor me Tim life doesn’t have to be so
mentor me Tim life doesn’t have to be so
mentor me Tim life doesn’t have to be so hard it really doesn’t now if you told
hard it really doesn’t now if you told
hard it really doesn’t now if you told me that three years ago I wouldn’t have
me that three years ago I wouldn’t have
me that three years ago I wouldn’t have believed you
believed you
believed you but most people like past self included
but most people like past self included
but most people like past self included have resigned themselves to nine to five
have resigned themselves to nine to five
have resigned themselves to nine to five grind in exchange for sometimes although
grind in exchange for sometimes although
grind in exchange for sometimes although increasingly less and less relaxing
increasingly less and less relaxing
increasingly less and less relaxing weekends and the occasional one week
weekends and the occasional one week
weekends and the occasional one week certainly no more than two week vacation
certainly no more than two week vacation
certainly no more than two week vacation I came to realize that income really has
I came to realize that income really has
I came to realize that income really has no practical value without time here are
no practical value without time here are
no practical value without time here are a few simple steps you can take to
a few simple steps you can take to
a few simple steps you can take to escape the rat race entirely not just
escape the rat race entirely not just
escape the rat race entirely not just win it one of the first steps is the
win it one of the first steps is the
win it one of the first steps is the process of elimination so to start you
process of elimination so to start you
process of elimination so to start you need to consider something called
need to consider something called
need to consider something called Pareto’s law more commonly known as the
Pareto’s law more commonly known as the
Pareto’s law more commonly known as the 80/20 principle because in order to work
80/20 principle because in order to work
80/20 principle because in order to work less not have everything fall apart
less not have everything fall apart
less not have everything fall apart you’ll have to quantify the 20% of
you’ll have to quantify the 20% of
you’ll have to quantify the 20% of activities that are producing 80 percent
activities that are producing 80 percent
activities that are producing 80 percent of your desired outcomes also take that
of your desired outcomes also take that
of your desired outcomes also take that time to determine the 20 percent of
time to determine the 20 percent of
time to determine the 20 percent of activities and people who are consuming
activities and people who are consuming
activities and people who are consuming 80 percent of your time
80 percent of your time
80 percent of your time use this principle for everything
use this principle for everything
use this principle for everything customers work tasks but also for
customers work tasks but also for
customers work tasks but also for personal chores even for friends the
personal chores even for friends the
personal chores even for friends the goal here is twofold number one to find
goal here is twofold number one to find
goal here is twofold number one to find your inefficiencies in order to
your inefficiencies in order to
your inefficiencies in order to eliminate them and then secondly this is
eliminate them and then secondly this is
eliminate them and then secondly this is just as important to find your strengths
just as important to find your strengths
just as important to find your strengths and those critical few tasks so you can
and those critical few tasks so you can
and those critical few tasks so you can multiply your output
multiply your output
multiply your output working every hour every minute from
working every hour every minute from
working every hour every minute from 9:00 to 5:00 with some type of digit
9:00 to 5:00 with some type of digit
9:00 to 5:00 with some type of digit isn’t the goal it’s simply the structure
isn’t the goal it’s simply the structure
isn’t the goal it’s simply the structure most people use it’s actually a legacy
most people use it’s actually a legacy
most people use it’s actually a legacy from a time that’s already been
from a time that’s already been
from a time that’s already been obsolesce in a knowledge economy the
obsolesce in a knowledge economy the
obsolesce in a knowledge economy the more important thing is to shift from
more important thing is to shift from
more important thing is to shift from presence to performance cut out static
presence to performance cut out static
presence to performance cut out static all the things that consume time and
all the things that consume time and
all the things that consume time and income out contributing back and focus
income out contributing back and focus
income out contributing back and focus on the critical fuel you’ll find that
on the critical fuel you’ll find that
on the critical fuel you’ll find that very few things matter another critical
very few things matter another critical
very few things matter another critical step and a real complement to
step and a real complement to
step and a real complement to elimination is what I call the low
elimination is what I call the low
elimination is what I call the low information diet or cultivating
information diet or cultivating
information diet or cultivating selectively ignorant keeping abreast if
selectively ignorant keeping abreast if
selectively ignorant keeping abreast if all the new developments in any field
all the new developments in any field
all the new developments in any field will consume all of your time it’ll be
will consume all of your time it’ll be
will consume all of your time it’ll be all input and no output
all input and no output
all input and no output you can’t possibly digest all that
you can’t possibly digest all that
you can’t possibly digest all that information so a more effective approach
information so a more effective approach
information so a more effective approach is to try to catch up when need be as
is to try to catch up when need be as
is to try to catch up when need be as opposed to keeping up at all times a big
opposed to keeping up at all times a big
opposed to keeping up at all times a big part of selective ignorance is learning
part of selective ignorance is learning
part of selective ignorance is learning to let things wait for example email so
to let things wait for example email so
to let things wait for example email so email is the single largest acceptable
email is the single largest acceptable
email is the single largest acceptable interruption in modern life and it’s a
interruption in modern life and it’s a
interruption in modern life and it’s a very convenient way of simulating
very convenient way of simulating
very convenient way of simulating forward motion without accomplishing
forward motion without accomplishing
forward motion without accomplishing anything it shouldn’t be a workspace
anything it shouldn’t be a workspace
anything it shouldn’t be a workspace it’s a tool and one of the easiest
it’s a tool and one of the easiest
it’s a tool and one of the easiest methods I’ve seen for controlling email
methods I’ve seen for controlling email
methods I’ve seen for controlling email and one that’s become quite popular in
and one that’s become quite popular in
and one that’s become quite popular in Silicon Valley is setting up a simple
Silicon Valley is setting up a simple
Silicon Valley is setting up a simple autoresponder much like a vacation auto
autoresponder much like a vacation auto
autoresponder much like a vacation auto response that says something like the
response that says something like the
response that says something like the following dear all in an effort to
following dear all in an effort to
following dear all in an effort to actually get work done I’m testing a new
actually get work done I’m testing a new
actually get work done I’m testing a new email policy I’m checking in responding
email policy I’m checking in responding
email policy I’m checking in responding to email only twice a day at 11 a.m. and
to email only twice a day at 11 a.m. and
to email only twice a day at 11 a.m. and 4 p.m. Pacific Time or whatever your
4 p.m. Pacific Time or whatever your
4 p.m. Pacific Time or whatever your timezone happens to be if you need a
timezone happens to be if you need a
timezone happens to be if you need a response before one of these two times
response before one of these two times
response before one of these two times for anything urgent please call me on my
for anything urgent please call me on my
for anything urgent please call me on my cell phone thanks for understanding the
cell phone thanks for understanding the
cell phone thanks for understanding the food to greater effectiveness and
food to greater effectiveness and
food to greater effectiveness and efficiency whatever your name this gives
efficiency whatever your name this gives
efficiency whatever your name this gives you the breathing room finally two
you the breathing room finally two
you the breathing room finally two single task and focus on completing the
single task and focus on completing the
single task and focus on completing the mission critical tasks the critical few
mission critical tasks the critical few
mission critical tasks the critical few from start to finish without
from start to finish without
from start to finish without interruption
interruption
interruption the third important tool I’d like to
the third important tool I’d like to
the third important tool I’d like to mention and one of my personal favorites
mention and one of my personal favorites
mention and one of my personal favorites is outsourcing life to get started
is outsourcing life to get started
is outsourcing life to get started though we first need to replace the very
though we first need to replace the very
though we first need to replace the very obsolete concept of annual income
obsolete concept of annual income
obsolete concept of annual income it is a very deceptive metric with
it is a very deceptive metric with
it is a very deceptive metric with hourly income and people are generally
hourly income and people are generally
hourly income and people are generally extremely hesitant to delegate or
extremely hesitant to delegate or
extremely hesitant to delegate or outsource because they feel they can do
outsource because they feel they can do
outsource because they feel they can do something free themselves this is very
something free themselves this is very
something free themselves this is very inaccurate so let’s start with a very
inaccurate so let’s start with a very
inaccurate so let’s start with a very basic calculation of hourly time if you
basic calculation of hourly time if you
basic calculation of hourly time if you make let’s say $50,000 per year you cut
make let’s say $50,000 per year you cut
make let’s say $50,000 per year you cut off the last three zeros I just fifty
off the last three zeros I just fifty
off the last three zeros I just fifty and you divide that in half and you get
and you divide that in half and you get
and you divide that in half and you get 25 so you make $25 an hour this is
25 so you make $25 an hour this is
25 so you make $25 an hour this is assuming you get two weeks off per year
assuming you get two weeks off per year
assuming you get two weeks off per year and you’re working 40 hours per week so
and you’re working 40 hours per week so
and you’re working 40 hours per week so let’s just say on the very high end that
let’s just say on the very high end that
let’s just say on the very high end that you can hire a personal assistant at
you can hire a personal assistant at
you can hire a personal assistant at $30.00 per hour to handle one workday of
$30.00 per hour to handle one workday of
$30.00 per hour to handle one workday of eight hours so your cost per hours and
eight hours so your cost per hours and
eight hours so your cost per hours and five dollars so his or her 30 – your 25
five dollars so his or her 30 – your 25
five dollars so his or her 30 – your 25 that means
that means
that means forty dollars per full eight-hour day of
forty dollars per full eight-hour day of
forty dollars per full eight-hour day of freedom
freedom
freedom this also means you can take a three-day
this also means you can take a three-day
this also means you can take a three-day weekend every week it will cost you $40
weekend every week it will cost you $40
weekend every week it will cost you $40 per week I hired virtual assistants
per week I hired virtual assistants
per week I hired virtual assistants around the world which only takes a few
around the world which only takes a few
around the world which only takes a few hours help me with just about everything
hours help me with just about everything
hours help me with just about everything from business research to reading email
from business research to reading email
from business research to reading email cutting hundreds of email down to four
cutting hundreds of email down to four
cutting hundreds of email down to four or five that I actually have to deal
or five that I actually have to deal
or five that I actually have to deal with to travel product development
with to travel product development
with to travel product development purchasing planning parties even online
purchasing planning parties even online
purchasing planning parties even online dating there are a lot of unorthodox and
dating there are a lot of unorthodox and
dating there are a lot of unorthodox and creative uses personal outsourcing is
creative uses personal outsourcing is
creative uses personal outsourcing is only limited by your imagination and
only limited by your imagination and
only limited by your imagination and return on investment is astounding four
return on investment is astounding four
return on investment is astounding four hundred five hundred percent even for
hundred five hundred percent even for
hundred five hundred percent even for someone who makes thirty forty thousand
someone who makes thirty forty thousand
someone who makes thirty forty thousand dollars a year it’s smart to focus on
dollars a year it’s smart to focus on
dollars a year it’s smart to focus on getting things done but it’s only
getting things done but it’s only
getting things done but it’s only possible when you actually set you’re
possible when you actually set you’re
possible when you actually set you’re not to do lists so once we remove the
not to do lists so once we remove the
not to do lists so once we remove the constant static and the distraction and
constant static and the distraction and
constant static and the distraction and focus on the critical few and they’re
focus on the critical few and they’re
focus on the critical few and they’re really just aren’t that many so I hope
really just aren’t that many so I hope
really just aren’t that many so I hope you enjoy the book and just remember
you enjoy the book and just remember
you enjoy the book and just remember that outside of the law and science all
that outside of the law and science all
that outside of the law and science all the rules we follow our rules we set
the rules we follow our rules we set
the rules we follow our rules we set ourselves so set yourself up to win and
ourselves so set yourself up to win and
ourselves so set yourself up to win and choose your own rules Timothy how do I
choose your own rules Timothy how do I
choose your own rules Timothy how do I get
get
get our workweek is that possible the 4-hour
our workweek is that possible the 4-hour
our workweek is that possible the 4-hour workweek is possible but you need to
workweek is possible but you need to
workweek is possible but you need to completely unplug and reset and the
completely unplug and reset and the
completely unplug and reset and the reason that’s necessary is because there
reason that’s necessary is because there
reason that’s necessary is because there is an epidemic and I do mean epidemic in
is an epidemic and I do mean epidemic in
is an epidemic and I do mean epidemic in this country of information abuse an
this country of information abuse an
this country of information abuse an information addiction where people have
information addiction where people have
information addiction where people have come to believe that checking email 200
come to believe that checking email 200
come to believe that checking email 200 times per day having a blackberry to
times per day having a blackberry to
times per day having a blackberry to your head or in your hand while you’re
your head or in your hand while you’re
your head or in your hand while you’re at dinner or on the subway or in your
at dinner or on the subway or in your
at dinner or on the subway or in your car or with your friends is the path to
car or with your friends is the path to
car or with your friends is the path to becoming more productive and more
becoming more productive and more
becoming more productive and more successful you mean it isn’t it isn’t
successful you mean it isn’t it isn’t
successful you mean it isn’t it isn’t because giving everyone around you every
because giving everyone around you every
because giving everyone around you every person in the world immediate access to
person in the world immediate access to
person in the world immediate access to you is inviting interruption and
you is inviting interruption and
you is inviting interruption and inviting minutiae to completely invade
inviting minutiae to completely invade
inviting minutiae to completely invade your life which is happening to everyone
your life which is happening to everyone
your life which is happening to everyone and it did happen to me I had no
and it did happen to me I had no
and it did happen to me I had no intention of writing this book but from
intention of writing this book but from
intention of writing this book but from 2000 to 2004 I was working at startups
2000 to 2004 I was working at startups
2000 to 2004 I was working at startups in Silicon Valley I started my own I’m
in Silicon Valley I started my own I’m
in Silicon Valley I started my own I’m CEO and I worked from 7:00 a.m. to 9:00
CEO and I worked from 7:00 a.m. to 9:00
CEO and I worked from 7:00 a.m. to 9:00 p.m. every day I checked Outlook hitting
p.m. every day I checked Outlook hitting
p.m. every day I checked Outlook hitting send receive 100 to 200 times per day
send receive 100 to 200 times per day
send receive 100 to 200 times per day like a rat with a cocaine pellet
like a rat with a cocaine pellet
like a rat with a cocaine pellet dispenser slept under my cubicle sent
dispenser slept under my cubicle sent
dispenser slept under my cubicle sent emails on Thanksgiving to prospects it
emails on Thanksgiving to prospects it
emails on Thanksgiving to prospects it was a depressing scene and it’s very
was a depressing scene and it’s very
was a depressing scene and it’s very unfortunately common scene and I think
unfortunately common scene and I think
unfortunately common scene and I think everyone is at a point of overwhelm
everyone is at a point of overwhelm
everyone is at a point of overwhelm there is more information than we can
there is more information than we can
there is more information than we can possibly organize time management is
possibly organize time management is
possibly organize time management is dead isn’t it how do you turn that turn
dead isn’t it how do you turn that turn
dead isn’t it how do you turn that turn it around the way turnaround is you have
it around the way turnaround is you have
it around the way turnaround is you have to completely unplug and reset that
to completely unplug and reset that
to completely unplug and reset that means you need to take a step back
means you need to take a step back
means you need to take a step back forget about what people expect you to
forget about what people expect you to
forget about what people expect you to do forget about what’s popular and
do forget about what’s popular and
do forget about what’s popular and really look at what works and what is
really look at what works and what is
really look at what works and what is consuming your time so there are four
consuming your time so there are four
consuming your time so there are four steps
steps
steps there’s definition elimination
there’s definition elimination
there’s definition elimination automation and liberation definition is
automation and liberation definition is
automation and liberation definition is simple first need to define your ideal
simple first need to define your ideal
simple first need to define your ideal lifestyle what do you want to be doing
lifestyle what do you want to be doing
lifestyle what do you want to be doing from when you wake up to when you go to
from when you wake up to when you go to
from when you wake up to when you go to sleep and so what do you want to have
sleep and so what do you want to have
sleep and so what do you want to have what you want to be what you want to do
what you want to be what you want to do
what you want to be what you want to do and how much does that ideal lifestyle
and how much does that ideal lifestyle
and how much does that ideal lifestyle cost and that becomes your target
cost and that becomes your target
cost and that becomes your target elimination is simple it’s getting rid
elimination is simple it’s getting rid
elimination is simple it’s getting rid of everything all the static all the
of everything all the static all the
of everything all the static all the noise all the interruptions all the
noise all the interruptions all the
noise all the interruptions all the micro managing all the people possible
micro managing all the people possible
micro managing all the people possible that interfere with getting you to the
that interfere with getting you to the
that interfere with getting you to the ideal lifestyle the third automation is
ideal lifestyle the third automation is
ideal lifestyle the third automation is about taking the few remaining tasks
about taking the few remaining tasks
about taking the few remaining tasks that are important the time-consuming
that are important the time-consuming
that are important the time-consuming and either delegating automating or
and either delegating automating or
and either delegating automating or somehow outsourcing them so in my
somehow outsourcing them so in my
somehow outsourcing them so in my particular case I have an army of MBAs
particular case I have an army of MBAs
particular case I have an army of MBAs in India about 25 of them who work for
in India about 25 of them who work for
in India about 25 of them who work for $4 an hour and take care of tasks that
$4 an hour and take care of tasks that
$4 an hour and take care of tasks that otherwise consume hundreds of my hours
otherwise consume hundreds of my hours
otherwise consume hundreds of my hours and then the last step liberation is
and then the last step liberation is
and then the last step liberation is about the final ingredient in lifestyle
about the final ingredient in lifestyle
about the final ingredient in lifestyle design which is mobility and then also
design which is mobility and then also
design which is mobility and then also how to use the time once you create it
how to use the time once you create it
how to use the time once you create it which is very difficult for most people
which is very difficult for most people
which is very difficult for most people okay this is fascinating but that’s the
okay this is fascinating but that’s the
okay this is fascinating but that’s the point it is difficult I mean how do you
point it is difficult I mean how do you
point it is difficult I mean how do you put the BlackBerry down how aren’t you
put the BlackBerry down how aren’t you
put the BlackBerry down how aren’t you worried that you’re not going to make as
worried that you’re not going to make as
worried that you’re not going to make as much money that you’re going to lose
much money that you’re going to lose
much money that you’re going to lose clients do you have statistics that show
clients do you have statistics that show
clients do you have statistics that show that that’s not the case
that that’s not the case
that that’s not the case I have statistics that would absolutely
I have statistics that would absolutely
I have statistics that would absolutely make your head spin so if you’re
make your head spin so if you’re
make your head spin so if you’re interrupted by email and phone there was
interrupted by email and phone there was
interrupted by email and phone there was an experiment done at Kings King’s
an experiment done at Kings King’s
an experiment done at Kings King’s College for example to showed that
College for example to showed that
College for example to showed that people who were stoned scored 6 points
people who were stoned scored 6 points
people who were stoned scored 6 points better on myq tests and people were
better on myq tests and people were
better on myq tests and people were interrupted by email and phone and that
interrupted by email and phone and that
interrupted by email and phone and that now good to know 26% of people in the
now good to know 26% of people in the
now good to know 26% of people in the American workforce are on the verge of a
American workforce are on the verge of a
American workforce are on the verge of a nervous breakdown the system is not
nervous breakdown the system is not
nervous breakdown the system is not working so it’s not a question of of if
working so it’s not a question of of if
working so it’s not a question of of if I should do this this question of when
I should do this this question of when
I should do this this question of when it is the only real alternative so one
it is the only real alternative so one
it is the only real alternative so one simple step that people can take a baby
simple step that people can take a baby
simple step that people can take a baby step to prove the concept is to simply
step to prove the concept is to simply
step to prove the concept is to simply use an autoresponder set up an
use an autoresponder set up an
use an autoresponder set up an autoresponder that tells everyone who
autoresponder that tells everyone who
autoresponder that tells everyone who emails you I will be checking email
emails you I will be checking email
emails you I will be checking email twice a day that’s a great idea at 11
twice a day that’s a great idea at 11
twice a day that’s a great idea at 11 and 4 p.m. if you require a more urgent
and 4 p.m. if you require a more urgent
and 4 p.m. if you require a more urgent response before one of those two times
response before one of those two times
response before one of those two times call me on my cell phone okay if I start
call me on my cell phone okay if I start
call me on my cell phone okay if I start losing customers I’m going to call you
losing customers I’m going to call you
losing customers I’m going to call you too you can call me okay what’s going to
too you can call me okay what’s going to
too you can call me okay what’s going to happen instead of losing customers
happen instead of losing customers
happen instead of losing customers you’ll get more done in the next 48
you’ll get more done in the next 48
you’ll get more done in the next 48 hours and you would in the next two
hours and you would in the next two
hours and you would in the next two weeks so I’m use as defining for our
weeks so I’m use as defining for our
weeks so I’m use as defining for our work week as I use it in a business
work week as I use it in a business
work week as I use it in a business context is any business that provides an
context is any business that provides an
context is any business that provides an automated source of income
automated source of income
automated source of income and I think it’s it’s important for
and I think it’s it’s important for
and I think it’s it’s important for people to satisfy their their financial
people to satisfy their their financial
people to satisfy their their financial needs before striving to address all
needs before striving to address all
needs before striving to address all these other needs because it really is a
these other needs because it really is a
these other needs because it really is a valuable flexible currency and
ultimately the end goal is to speck out
ultimately the end goal is to speck out what you want to do what you want to be
what you want to do what you want to be
what you want to do what you want to be what you want to have work backwards
what you want to have work backwards
what you want to have work backwards from a target monthly income number
from a target monthly income number
from a target monthly income number design a business to support that and
design a business to support that and
design a business to support that and provide that then minimize the number of
provide that then minimize the number of
provide that then minimize the number of moving pieces automate it and then you
moving pieces automate it and then you
moving pieces automate it and then you have I suppose what most people would
have I suppose what most people would
have I suppose what most people would consider complete freedom in the form of
consider complete freedom in the form of
consider complete freedom in the form of options left right center you evaluate
options left right center you evaluate
options left right center you evaluate the income you need by taking all of
the income you need by taking all of
the income you need by taking all of these various things that you would
these various things that you would
these various things that you would defer for retirement defining them very
defer for retirement defining them very
defer for retirement defining them very clearly whether that’s let’s just take
clearly whether that’s let’s just take
clearly whether that’s let’s just take for instance Aston Martin db9 ski chalet
for instance Aston Martin db9 ski chalet
for instance Aston Martin db9 ski chalet and Colorado for a few weeks of the year
and Colorado for a few weeks of the year
and Colorado for a few weeks of the year etc etc even if that seems utterly
etc etc even if that seems utterly
etc etc even if that seems utterly unattainable but all the things that you
unattainable but all the things that you
unattainable but all the things that you would save for retirement if you had
would save for retirement if you had
would save for retirement if you had five hundred thousand million dollars
five hundred thousand million dollars
five hundred thousand million dollars forever then you look at how much of it
forever then you look at how much of it
forever then you look at how much of it actually costs let’s say financed on a
actually costs let’s say financed on a
actually costs let’s say financed on a monthly basis that could be through
monthly basis that could be through
monthly basis that could be through Carlow it could be through a purchase
Carlow it could be through a purchase
Carlow it could be through a purchase whatever it might be
whatever it might be
whatever it might be and then you look at let’s say the top
and then you look at let’s say the top
and then you look at let’s say the top two or three things in the to do and to
two or three things in the to do and to
two or three things in the to do and to have categories and you add them up to
have categories and you add them up to
have categories and you add them up to arrive at a target monthly income and it
arrive at a target monthly income and it
arrive at a target monthly income and it can be extremely inexpensive I mean for
can be extremely inexpensive I mean for
can be extremely inexpensive I mean for for the cars the trips and all that it
for the cars the trips and all that it
for the cars the trips and all that it very seldom cost more than 75 right here
very seldom cost more than 75 right here
very seldom cost more than 75 right here very seldom and that is liberating when
very seldom and that is liberating when
very seldom and that is liberating when people realize that then the trick is
people realize that then the trick is
people realize that then the trick is working backwards with that goal in mind
working backwards with that goal in mind
working backwards with that goal in mind to find a business that provides that in
to find a business that provides that in
to find a business that provides that in the fewest numbers of hours of input as
the fewest numbers of hours of input as
the fewest numbers of hours of input as possible you can turn many different
possible you can turn many different
possible you can turn many different types of products or services and abuses
types of products or services and abuses
types of products or services and abuses but some things are easier than others
but some things are easier than others
but some things are easier than others products ten
products ten
products ten then services biggest services tend to
then services biggest services tend to
then services biggest services tend to have more manual component at some level
have more manual component at some level
have more manual component at some level secondly end customer service customer
secondly end customer service customer
secondly end customer service customer support issues in terms of margin I like
support issues in terms of margin I like
support issues in terms of margin I like to encourage people to aim for a retail
to encourage people to aim for a retail
to encourage people to aim for a retail like margin which would be an 8 to 10 X
like margin which would be an 8 to 10 X
like margin which would be an 8 to 10 X markup from cost of goods on five cost
markup from cost of goods on five cost
markup from cost of goods on five cost by cost of goods I’m really just
by cost of goods I’m really just
by cost of goods I’m really just referring to the physical goods I mean
referring to the physical goods I mean
referring to the physical goods I mean you can look at fixed and variable costs
you can look at fixed and variable costs
you can look at fixed and variable costs but there’s no need to get too fancy I
but there’s no need to get too fancy I
but there’s no need to get too fancy I mean really it is my cost of producing a
mean really it is my cost of producing a
mean really it is my cost of producing a thousand units let’s just say on a per
thousand units let’s just say on a per
thousand units let’s just say on a per unit basis but I encourage people to
unit basis but I encourage people to
unit basis but I encourage people to sacrifice margin in the beginning during
sacrifice margin in the beginning during
sacrifice margin in the beginning during testing this is very important so it
testing this is very important so it
testing this is very important so it might be something we can discuss
might be something we can discuss
might be something we can discuss separately but in effect to get a lower
separately but in effect to get a lower
separately but in effect to get a lower per unit cost you don’t want to stock up
per unit cost you don’t want to stock up
per unit cost you don’t want to stock up on a thousand units of a product you’ve
on a thousand units of a product you’ve
on a thousand units of a product you’ve never sold before it’s a much better
never sold before it’s a much better
never sold before it’s a much better idea to prototype maybe dry test then
idea to prototype maybe dry test then
idea to prototype maybe dry test then only at that point do a small batch run
only at that point do a small batch run
only at that point do a small batch run of the product even if you’re only
of the product even if you’re only
of the product even if you’re only making two cents a unit as long as
making two cents a unit as long as
making two cents a unit as long as you’re not losing money you want to test
you’re not losing money you want to test
you’re not losing money you want to test and not end up with an entire warehouse
and not end up with an entire warehouse
and not end up with an entire warehouse full of product you can’t move yeah and
full of product you can’t move yeah and
full of product you can’t move yeah and I think that in the beginning it pays as
I think that in the beginning it pays as
I think that in the beginning it pays as long as you’re not losing money even if
long as you’re not losing money even if
long as you’re not losing money even if you’re losing a small amount to test
you’re losing a small amount to test
you’re losing a small amount to test effectively so that you know when you
effectively so that you know when you
effectively so that you know when you scale you will have demand to be able to
scale you will have demand to be able to
scale you will have demand to be able to fill that demand effectively amuse and
fill that demand effectively amuse and
fill that demand effectively amuse and experimentation testing whether that’s
experimentation testing whether that’s
experimentation testing whether that’s defining the market identifying the cost
defining the market identifying the cost
defining the market identifying the cost per acquisition potentially for a
per acquisition potentially for a
per acquisition potentially for a customer product design prototyping all
customer product design prototyping all
customer product design prototyping all that can be done while you still have a
that can be done while you still have a
that can be done while you still have a full-time job and I discourage people
full-time job and I discourage people
full-time job and I discourage people from just cutting all ties and losing
from just cutting all ties and losing
from just cutting all ties and losing full-time income to focus on a business
full-time income to focus on a business
full-time income to focus on a business you don’t have to make that leap so
you don’t have to make that leap so
you don’t have to make that leap so people tend to think in terms of
people tend to think in terms of
people tend to think in terms of employed or entrepreneur employed person
employed or entrepreneur employed person
employed or entrepreneur employed person employee or entrepreneur I think that
employee or entrepreneur I think that
employee or entrepreneur I think that there’s a broad spectrum and you can
there’s a broad spectrum and you can
there’s a broad spectrum and you can very slowly and methodically move from
very slowly and methodically move from
very slowly and methodically move from one to the other and it doesn’t mean you
one to the other and it doesn’t mean you
one to the other and it doesn’t mean you have to end up a full-time entrepreneur
have to end up a full-time entrepreneur
have to end up a full-time entrepreneur yeah you could still keep your job and
yeah you could still keep your job and
yeah you could still keep your job and have awesome side income I mean I’m not
have awesome side income I mean I’m not
have awesome side income I mean I’m not going to name names but I’m pretty sure
going to name names but I’m pretty sure
going to name names but I’m pretty sure you and I both know a guy who at the
you and I both know a guy who at the
you and I both know a guy who at the time at least a few years ago worked at
time at least a few years ago worked at
time at least a few years ago worked at Google and they’re selling millions of
Google and they’re selling millions of
Google and they’re selling millions of dollars through Shopify ah and he did
dollars through Shopify ah and he did
dollars through Shopify ah and he did both very comfortable so I don’t think
both very comfortable so I don’t think
both very comfortable so I don’t think you have to choose necessarily between
you have to choose necessarily between
you have to choose necessarily between one on the other what are some of the
one on the other what are some of the
one on the other what are some of the real ways that somebody can work front
real ways that somebody can work front
real ways that somebody can work front because I used to work in at NEC 115,000
because I used to work in at NEC 115,000
because I used to work in at NEC 115,000 employee place you had to go to work at
employee place you had to go to work at
employee place you had to go to work at 9:00 you know wear suit you know which
9:00 you know wear suit you know which
9:00 you know wear suit you know which is why I went on the show quickly
is why I went on the show quickly
is why I went on the show quickly reminds me that is about work right how
reminds me that is about work right how
reminds me that is about work right how do you move from that world into the
do you move from that world into the
do you move from that world into the world where you’re working very little
world where you’re working very little
world where you’re working very little and getting very high value for the work
and getting very high value for the work
and getting very high value for the work you put in and outsourcing everything
you put in and outsourcing everything
you put in and outsourcing everything else so I think the second piece you
else so I think the second piece you
else so I think the second piece you brought up is very important getting
brought up is very important getting
brought up is very important getting very high value for the work you put in
very high value for the work you put in
very high value for the work you put in so so ever since the book came out and
so so ever since the book came out and
so so ever since the book came out and there’s been this this this gallery of
there’s been this this this gallery of
there’s been this this this gallery of people I call me a hoax or whatever that
people I call me a hoax or whatever that
people I call me a hoax or whatever that might be and I think the the main point
might be and I think the the main point
might be and I think the the main point that many of them are missing because
that many of them are missing because
that many of them are missing because they haven’t actually taken the time to
they haven’t actually taken the time to
they haven’t actually taken the time to look at the book or to read the blog is
look at the book or to read the blog is
look at the book or to read the blog is that the book is not literally about
that the book is not literally about
that the book is not literally about everyone working four hours a week it’s
everyone working four hours a week it’s
everyone working four hours a week it’s about decreasing the number of inputs
about decreasing the number of inputs
about decreasing the number of inputs and increase in the road of are the
and increase in the road of are the
and increase in the road of are the quality and quantity of output right all
quality and quantity of output right all
quality and quantity of output right all that means is that as a true
that means is that as a true
that means is that as a true entrepreneur in the sense that JB say
entrepreneur in the sense that JB say
entrepreneur in the sense that JB say originally coined the term you’re taking
originally coined the term you’re taking
originally coined the term you’re taking resources from an area of low economic
resources from an area of low economic
resources from an area of low economic value and shifting them to an area of
value and shifting them to an area of
value and shifting them to an area of high economic value so what are the
high economic value so what are the
high economic value so what are the practical examples the first caveat is
practical examples the first caveat is
practical examples the first caveat is that it does not need to include
that it does not need to include
that it does not need to include outsourcing so the two things that I get
outsourcing so the two things that I get
outsourcing so the two things that I get the most media play from are checking
the most media play from are checking
the most media play from are checking email let’s say twice a day and then
email let’s say twice a day and then
email let’s say twice a day and then personal outsourcing you could have you
personal outsourcing you could have you
personal outsourcing you could have you could completely ignore both of those
could completely ignore both of those
could completely ignore both of those things and still those are two of
things and still those are two of
things and still those are two of sixteen chapters and it wouldn’t in any
sixteen chapters and it wouldn’t in any
sixteen chapters and it wouldn’t in any way invalidate the premise of the book
way invalidate the premise of the book
way invalidate the premise of the book in any way but so some practical tools
in any way but so some practical tools
in any way but so some practical tools but just reiterate then what the premise
but just reiterate then what the premise
but just reiterate then what the premise of the book is so they promised the book
of the book is so they promised the book
of the book is so they promised the book the premise of the book I would say
the premise of the book I would say
the premise of the book I would say there they’re two premises the first is
there they’re two premises the first is
there they’re two premises the first is that
that
that the objective is not busyness so massive
the objective is not busyness so massive
the objective is not busyness so massive action without clearly defined
action without clearly defined
action without clearly defined objectives is a form of laziness right
objectives is a form of laziness right
objectives is a form of laziness right and secondly that the deferred life plan
and secondly that the deferred life plan
and secondly that the deferred life plan so to speak that is a retirement based
so to speak that is a retirement based
so to speak that is a retirement based life plan
life plan
life plan long-haul career planning after which
long-haul career planning after which
long-haul career planning after which you redeem all the experiences you want
you redeem all the experiences you want
you redeem all the experiences you want to have the possessions you want to own
to have the possessions you want to own
to have the possessions you want to own is fundamentally flawed and I don’t
is fundamentally flawed and I don’t
is fundamentally flawed and I don’t think it’s very difficult for people to
think it’s very difficult for people to
think it’s very difficult for people to argue with the logic this is easy to
argue with the logic this is easy to
argue with the logic this is easy to attack me okay thirty years old doesn’t
attack me okay thirty years old doesn’t
attack me okay thirty years old doesn’t have any kids what is this guy now
have any kids what is this guy now
have any kids what is this guy now well we’re accused of being too nice to
well we’re accused of being too nice to
well we’re accused of being too nice to our guests so Robert and I decided we
our guests so Robert and I decided we
our guests so Robert and I decided we are going to attack exactly but then we
are going to attack exactly but then we
are going to attack exactly but then we read about the kick boxing stuff right
read about the kick boxing stuff right
read about the kick boxing stuff right so so so so we like the chat room that’s
so so so so we like the chat room that’s
so so so so we like the chat room that’s fine I mean if people want to attack me
fine I mean if people want to attack me
fine I mean if people want to attack me if we all had the same opinion in the
if we all had the same opinion in the
if we all had the same opinion in the world would be very boring place but
world would be very boring place but
world would be very boring place but let’s just take personal outsourcing as
let’s just take personal outsourcing as
let’s just take personal outsourcing as an example I can’t do it I’ve boss I’ll
an example I can’t do it I’ve boss I’ll
an example I can’t do it I’ve boss I’ll get fired okay first of all I don’t
get fired okay first of all I don’t
get fired okay first of all I don’t distinguish between work or business and
distinguish between work or business and
distinguish between work or business and personal time in so much as if you’re
personal time in so much as if you’re
personal time in so much as if you’re miss spending that time whether it’s on
miss spending that time whether it’s on
miss spending that time whether it’s on household chores on the weekend when
household chores on the weekend when
household chores on the weekend when you’ve put in 80 hours from Monday to
you’ve put in 80 hours from Monday to
you’ve put in 80 hours from Monday to Friday or checking email to simulate
Friday or checking email to simulate
Friday or checking email to simulate forward motion as opposed to defining
forward motion as opposed to defining
forward motion as opposed to defining your measurable objectives those are
your measurable objectives those are
your measurable objectives those are both waste of time so if you have a job
both waste of time so if you have a job
both waste of time so if you have a job and there’s absolutely no way you can
and there’s absolutely no way you can
and there’s absolutely no way you can apply outsourcing that job which we can
apply outsourcing that job which we can
apply outsourcing that job which we can question in a second that still means
question in a second that still means
question in a second that still means let’s say your son has a birthday party
let’s say your son has a birthday party
let’s say your son has a birthday party on Sunday he wants the equivalent of
on Sunday he wants the equivalent of
on Sunday he wants the equivalent of this season’s tickle-me-elmo which is
this season’s tickle-me-elmo which is
this season’s tickle-me-elmo which is impossible to find rather than spending
impossible to find rather than spending
impossible to find rather than spending your entire Saturday going from store to
your entire Saturday going from store to
your entire Saturday going from store to store over let’s say a period of five
store over let’s say a period of five
store over let’s say a period of five hours to find the toy you could call or
hours to find the toy you could call or
hours to find the toy you could call or email ask Sunday go to ask Sunday calm
email ask Sunday go to ask Sunday calm
email ask Sunday go to ask Sunday calm and for forty to fifty dollars a month
and for forty to fifty dollars a month
and for forty to fifty dollars a month have thirty inquiries this would be one
have thirty inquiries this would be one
have thirty inquiries this would be one you call them you say here’s my zip code
you call them you say here’s my zip code
you call them you say here’s my zip code call every toy store within a 10-mile
call every toy store within a 10-mile
call every toy store within a 10-mile radius find this toy make a reservation
radius find this toy make a reservation
radius find this toy make a reservation or purchase it using my credit card and
or purchase it using my credit card and
or purchase it using my credit card and have it held behind the counter call me
have it held behind the counter call me
have it held behind the counter call me when it’s ready tell me where to pick it
when it’s ready tell me where to pick it
when it’s ready tell me where to pick it up and that would save you four to five
up and that would save you four to five
up and that would save you four to five hours all right so let’s just say that
hours all right so let’s just say that
hours all right so let’s just say that you make fifty thousand
you make fifty thousand
you make fifty thousand hours a year there are number ways you
hours a year there are number ways you
hours a year there are number ways you can go about it but an easy way to
can go about it but an easy way to
can go about it but an easy way to approximate your per hour income is if
approximate your per hour income is if
approximate your per hour income is if you work 40 hours a week and get two
you work 40 hours a week and get two
you work 40 hours a week and get two weeks of vacation years to cut off the
weeks of vacation years to cut off the
weeks of vacation years to cut off the last three zeroes and chopped that
last three zeroes and chopped that
last three zeroes and chopped that remaining number in half so that would
remaining number in half so that would
remaining number in half so that would mean that you make fifty thousand
mean that you make fifty thousand
mean that you make fifty thousand dollars a year you make roughly
dollars a year you make roughly
dollars a year you make roughly twenty-five dollars an hour okay so if
twenty-five dollars an hour okay so if
twenty-five dollars an hour okay so if you can for forty dollars get let’s say
you can for forty dollars get let’s say
you can for forty dollars get let’s say thirty enquiries this one inquiry alone
thirty enquiries this one inquiry alone
thirty enquiries this one inquiry alone on a weekend saves you four to five
on a weekend saves you four to five
on a weekend saves you four to five hours well let’s let’s say 100 to 125
hours well let’s let’s say 100 to 125
hours well let’s let’s say 100 to 125 dollars profit in time currency that
dollars profit in time currency that
dollars profit in time currency that you’ve gained and the goal is not again
you’ve gained and the goal is not again
you’ve gained and the goal is not again to get from 80 to four hours I don’t
to get from 80 to four hours I don’t
to get from 80 to four hours I don’t believe and never claim that someone can
believe and never claim that someone can
believe and never claim that someone can do that overnight and most people if
do that overnight and most people if
do that overnight and most people if they enjoy their work would never want
they enjoy their work would never want
they enjoy their work would never want to get to four hours so the objective is
to get to four hours so the objective is
to get to four hours so the objective is to spend time on the things that our
to spend time on the things that our
to spend time on the things that our most profitable or most enjoyable and
most profitable or most enjoyable and
most profitable or most enjoyable and for some people let’s say those are
for some people let’s say those are
for some people let’s say those are pastors writers teachers it’s not being
pastors writers teachers it’s not being
pastors writers teachers it’s not being inactive that’s never the objective I
inactive that’s never the objective I
inactive that’s never the objective I work my ass off on things that I care
work my ass off on things that I care
work my ass off on things that I care about I spent a very very busy guy as
about I spent a very very busy guy as
about I spent a very very busy guy as you know yeah but on things that I
you know yeah but on things that I
you know yeah but on things that I choose to spend my time Allah those
choose to spend my time Allah those
choose to spend my time Allah those people let’s say pastor who suffers from
people let’s say pastor who suffers from
people let’s say pastor who suffers from let’s say emotional fatigue sympathy
let’s say emotional fatigue sympathy
let’s say emotional fatigue sympathy fatigue his objective will simply be to
fatigue his objective will simply be to
fatigue his objective will simply be to Razoo reduce the volume of work so that
Razoo reduce the volume of work so that
Razoo reduce the volume of work so that he can be most effective and whether
he can be most effective and whether
he can be most effective and whether it’s using ask sunday or simply training
it’s using ask sunday or simply training
it’s using ask sunday or simply training yourself to check email at set times so
yourself to check email at set times so
yourself to check email at set times so that it doesn’t become a reactive
that it doesn’t become a reactive
that it doesn’t become a reactive disorganized approach thank you guys so
disorganized approach thank you guys so
disorganized approach thank you guys so much for watching I hope you enjoyed I’d
much for watching I hope you enjoyed I’d
much for watching I hope you enjoyed I’d love to know what did you think about
love to know what did you think about
love to know what did you think about the video what was the one thing that
the video what was the one thing that
the video what was the one thing that you learned the most from this video
you learned the most from this video
you learned the most from this video that you can apply to your business it’s
that you can apply to your business it’s
that you can apply to your business it’s this is one of my favorite books of all
this is one of my favorite books of all
this is one of my favorite books of all time and so I hope that some of the
time and so I hope that some of the
time and so I hope that some of the lessons that have come out in this video
lessons that have come out in this video
lessons that have come out in this video have helped you as well I highly
have helped you as well I highly
have helped you as well I highly recommend going up checking the book as
recommend going up checking the book as
recommend going up checking the book as well we have
well we have
well we have writing so whatever was the most
writing so whatever was the most
writing so whatever was the most important lesson you learned please
important lesson you learned please
important lesson you learned please leaving the comments below I’m going to
leaving the comments below I’m going to
leaving the comments below I’m going to join in the discussion I also want to
join in the discussion I also want to
join in the discussion I also want to give a quick shout out to Jason Jay Rhys
give a quick shout out to Jason Jay Rhys
give a quick shout out to Jason Jay Rhys fond Sica for picking up a copy of my
fond Sica for picking up a copy of my
fond Sica for picking up a copy of my book again I really appreciate that
book again I really appreciate that
book again I really appreciate that Jason feeling the love you guys want to
Jason feeling the love you guys want to
Jason feeling the love you guys want to chance at a shadow in the future video
chance at a shadow in the future video
chance at a shadow in the future video make sure to grab a copy of the book and
make sure to grab a copy of the book and
make sure to grab a copy of the book and email in your receipt so we can keep
email in your receipt so we can keep
email in your receipt so we can keep track thank you guys so much for
track thank you guys so much for
track thank you guys so much for watching I believe in you I hope you
watching I believe in you I hope you
watching I believe in you I hope you continue to believe in yourself and
continue to believe in yourself and
continue to believe in yourself and whatever your one word is I’ll see you
whatever your one word is I’ll see you
whatever your one word is I’ll see you soon
”
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