The principles behind the 4 Hour Work Week by Tim Ferris.
Tim Ferris wrote a book a few years back outlining what could be done if you put your mind to working within the framework of the internet. The points that I got out of this book are as follows
- a) That you do not need to be an expert to do something. You need to find information and be able to relate this to others. This makes you an ’expert’.
- b) You can find ways to make passive income, and reduce the hours you need to spend working in a regular 9-5.
- c) Outsourcing is a new word that means others can help you do things. This could be by undertaking research by using the services of a virtual assistant or having someone manufacture products for you. Dropshipping and third-party logistics are ways of applying this principle today.
- d) That you can create a product to sell. Digital products are easier to deliver than physical products but you do have a choice. The other option is that you can promote someone else’s product. Today affiliate marketing is a business option.
- e) You can have the flexibility and freedom to enjoy life in ways our parents never dreamed of as you can create passive income streams.
I am in the process of using the principles outlined in Tim’s book to try to build myself an online business. This blog may contain affiliate links and if you click on a link and make a purchase I may receive a small commission at no extra cost to you.
You can find full details in my affiliate disclosure here.
Do you want to travel the world?
Tim’s idea was that if you did not have to work a 9-5 you would have the ability to travel the world, living in exotic locations and your only work tool would be your laptop. Many people refer to this model as a laptop lifestyle and describe their career as that of a digital nomad.
Most of us do dream of being able to give up having to go to the office each week for the option of sitting on a beach researching or writing using only our laptop. Maybe your dream is to work on your business at home, whilst still in your pj’s.
The web is a wonderful universe with so much information at our fingertips that we would love to be able to find all we need to know about a subject and then share this information with others.
It is my personal opinion that it will certainly take more than 4 hours a week to get these income streams up and running.
Many people do follow these principles today, and I do believe they may very well have spent more than 4 hours a week getting their business in place.
Having said that, it is an ideal that many people dream of being able to find a way to achieve if not in full, then at least in part.
Create a digital product
As we move forward into the digital age, many jobs do not require people to have a physical presence in a workplace. Jobs are continually being performed at remote locations.
So too many people today have businesses that do not rely on producing a physical product or service. These businesses may be online bookstores, blogs promoting products or a range of products within a niche, membership websites offering software or information, online educational courses or maybe a store retailing other people’s products that they do not need to carry inventory for.
There are may options for an online business today. It is even possible to sell your service as the creator of an online product.
My review of the 4 Hour Work Week.
I have written a full review of the 4 Hour Work Week process within a blog post in a wonderful training website and community that is Wealthy Affiliate.
I personally believe that these principles may require only a few hours a week to manage, but only once you are well established. Far too often, people think that they can do it quickly and get a start but never complete their journey.
I have written a review of this website explaining what you can expect if you join and you can find this review on my blog page What is Wealthy Affiliate all about – this may shock you.
If you wish to read my full review and ideas on the 4 Hour Work Week the link to my review is here. You can join Wealthy Affiliate for free (no credit card required) if you run out of time to read the review.
Wealthy Affiliate is a wonderful training website that I have used to build this blog. Within Wealthy Affiliate is a community of wonderful people all wanting to guide and help others to build an online business. It is a pay it forward community and therefore I have shared my review with them as I believe that the community will benefit from the teachings of this book.
How can I apply the principles of the 4 Hour Work Week?
As I move forward, I will look a range of different online marketing options in a bid to try to establish the best way to apply the 4 Hour Work Week principle as I proceed with my online business.
I am writing this blog and as I move forward I am trying to put together a post a day, which takes me approximately 4 or more hours to put together. Maybe, when my blog has a lot of information and many followers I will be able to spend less time writing and promoting and it will fall within the framework of the 4 Hour Work Week. Anything is possible.
I will look at email marketing, affiliate marketing, social media marketing, book writing and many more topics as see if I can find ways to make them fall within the 4 Hour Work Week ideal.
I hope that you will enjoy my musings and gain some perspective on whether it is possible for you can incorporate these principles into your own online business.
I hope you enjoy my posts. Please let me know your thoughts by leaving a comment on the bottom of this post.