15 Dec Tim Ferriss’ Productivity Strategy: The 4 Hour Workweek is Now Possible
Tim Ferriss is the author of ‘The 4-Hour Workweek’ but he’s also written ‘The 4-Hour Chef’, ‘The 4-Hour Body’ and he’s about to come out with a new book, he has a CNN Show, overall he’s got a lot of stuff going on.
In this blog post I want to run through the question – Can you still achieve a 4-Hour Workweek?
Are the things Tim Ferriss wrote about on his book still possible to achieve? It’s been around 10 years now.
Also, I’m going to give you the 3 productivity strategies that he goes over in that book and how we implement them here on Experiment 27.
Tim Ferriss: Can you still achieve 4- hour workweek?
Rule #1. Outsource As Much As Possible
Tim Ferriss is known as the outsourcing king, the one who, basically, made virtual assistance a thing that everyone likes to do.
His theory is based on a 4-Hour Workweek scalable business, which reduces your work times. Yes, you’ll have to hire a lot of people to do your work.
Tim Ferriss is known as the outsourcing king.
Tim Ferriss outsourced to countries overseas like the Philippines, I’ve tested that as well, it works really well but you can also use this as –hire as much as possible.
Outsource as much as you possibly can and it’ll reduce the amount of time you have to spend on your business.
Rule #2. Fire Clients That Aren’t Worth The Effort
When Tim decided to create his 4-Hour Workweek originally, he was running this supplement business and he had a lot of big clients.
However, when doing an analysis, he realized that all of his revenue and the customers that he spent the least amount of time on support calls with, were the same people.
Accordingly, he decided to take those customers. He said they represented the 20% of the total, generating 80% of his revenue.
This is called as the Pareto principle, a term popularized by him that comes from another book.
He got rid of 80 % of his customers and focused only on that 20 % (80/20 rule) and growing those and finding similar ones, which basically means fire clients that aren’t worth your time.
If you look at your business you’ll know that it’s true and that there are clients that are taking a bunch of your time, that are always emailing back and forth, wasting your account manager’s time and that aren’t delivering any money.
In my experience, the ones that go back and forth the most are the ones that actually pay the least and you end up seeing the least results for because they try to micromanage and break your process. So, firing those clients will help you save much more time on your business as well.
Rule #3. Spend Your Downtime Thinking and Reading
Now that me and my co-founder have all these people working beneath us, we have a lot more downtime. We used to be working 120 hours a week non-stop and now we can work more comfortably like 40 to 50 hours a week.
So we decided to do something similar to what Tim Ferriss does which is: think a lot about the business, try to get above it all and see the bigger picture, read a lot of books by your mentors, biographies and that sort of thing.
And the last thing Tim Ferriss does a lot is that every time he wants to answer a question, he’ll read a book and then email the author – Jessie Itzler also talks about this- and try to meet with them.
That’s what I’m going to try to do too, because once you’ve outsourced as much as you can and get rid of the clients that bug you, you will have a lot more downtime and you can use it to either maintain your business like Tim Ferriss did when he became a dancing champion, an Argentinian tango dancing champion or you learn to cook, he’s using all that extra time out of work to improve himself as a person, you could also use that time to grow your business.
I think you can still achieve a 4-Hour Workweek, mine is about 40 hours, maybe a little bit less than that, I’ve got 11 employees working beneath us but I still think it’s possible. Follow those steps and let me know how it is going! How much are you actually working?
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