Business Book Review ~ The 4-Hour Workweek
I’m part of a Mentor Network through Lighthouse Visionary Strategies in Whistler. My group includes some fabulous women who are the champions of their own businesses. We get together to share our ideas and our expertise and to support one another. As a participant, one of the requirements was to read a business book of our choosing and review it for the group. With so many great business books out there, this is a great way to get the inside scoop and fine tune your reading list! Enjoy.
The 4-Hour Workweek - By Timothy Ferris
I approached this book with cautious curiosity. As nice as a 4-hour workweek sounds, that’s not really what I was looking for. What I wanted to know, and found, was insight into how to work more efficiently and make my business more profitable.
For those ready to make drastic changes in their work / life, this book provides step-by-step guidance to make it happen and join the ranks of the “New Rich”.
“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.”
Through real-life examples Ferris outlines how to design your life in such a way that you can enjoy it now AND continue to earn an income.
Sthe plan into action.
The book explores topics such as time management, outsourcing, automation, technology / tools, working remotely and even how to identify and work with the big idea that will allow you to break free.
QUESTIONS TO CONSIDER
1) What in the book was applicable/already in place/right/wrong to your business?
I had already broken free of the traditional 9 – 5 job in favour of developing my own business to meet both my career needs and the time requirements of my family. My biggest challenge is that while my schedule is flexible, I still work lots of hours and my income is directly proportionate to the number of hours I bill in any given month.
2) What you wanted to take from the book and apply to your business?
I wanted to know how other people do it – take 6 months off and travel, be productive enough during work hours so that time with family and friends is truly enjoyable, make more money than my own hours traditionally dictate…. In addition to how, I wanted to know the tools and resources that allowed them to make this happen.
3) What was your biggest takeaway?
This book expanded my horizons and made me think of my work / life differently. I was already aware that the traditional notion of retirement was not going to apply, but wasn’t really sure what to do about it. I’m now thinking about building a business that can continue to be productive and generate revenue even when I’m not personally working (or doing revenue generating work). I’m starting to leverage other people’s time and resources in a way that meets the needs of my clients and allows me the flexibility that I was looking for when I started my own business 4 1/2 years ago.
- Am I being productive or just active?
- Am I inventing things to do to avoid the important?
- What tasks can I remove from my workday that won’t have any impact in my bottom line?
- What / who are the 20% of people / projects that produce 80% of my enjoyment / contribute to achieving my goals? What / who are the 80% that detract from this?