Serial Entrepreneur & Ultravagabond

Timothy Ferriss, author of the 4 Hour Work Week, is a self-described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now.

Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Albert Pope, derivatives specialist at UBS World Headquarters, has called him “Indiana Jones for the digital age”.

This exciting book has been number one on three different best seller lists: Wall Street Journal, NY Times and BusinessWeek.

Replace Obsolete Assumptions

His basic premise is that we need to adopt the “Rules of the New Rich” and let them bring power and choice into our lives.

Entrepreneurs need to replace the limiting assumptions that prevent us from enjoying life now. We want to be able to manage our businesses, and our lives, from anywhere, anytime.

Ferriss encourages us to abandon deferring a luxurious lifestyle and instead, build the life we want right now, using the currency of freed-up time and increased mobility.

Rules of the New Rich

According to Ferris, the “Rules of the New Rich” include the following:

• Retirement is Worst-Case Scenario Insurance
• Interest and Energy are Cyclical
• Less is Not Laziness
• The Timing Is Never Right
• Ask for Forgiveness, Not Permission
• Emphasize Strengths, Don’t Fix Weaknesses
• Things in Excess Become the Opposite
• Money Alone is Not the Solution
• Relative Income is More Important than Absolute Income
• Distress is Bad, Eustress is Good

The 4HWW Model

His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:

• Live like a millionaire
• Free time and automate income
• Outsource our lives to overseas virtual assistants for $5/hour
• Travel the world without quitting our jobs
• Eliminate 50% of our work in 48 hours
• Trade a long-haul career for short work bursts and mini-retirements

He uses the DEAL acronym to describe his model, where:

• D = Definition
• E = Elimination
• A = Automation
• L = Liberation

He encourages us to use “Dreamlining” to design our own luxurious lifestyles. Elimination, simplification, and outsourcing to virtual assistants are the building blocks to a luxurious lifestyle among the New Rich (NR).

Ferriss’ Lifestyle Design (LD) process includes both art and science. Lifestyle Design (LD) relies heavily upon automation, i.e., building a system to replace ourselves as bottlenecks. But never automate something that could be eliminated, and never delegate something that could be automated or simplified.

Carpe Diem!

Ferriss shows us how to recognize and seize opportunities that others don’t see. Along the way, you’ll come to realize that having options; i.e., the ability to choose, is the real power in life.

If you’ve ever wanted to work less and enjoy it more, read this book.

This book demonstrates that it is possible to realize our lifelong dreams – cheaper and easier than we had previously believed.  I plan to implement many of his ideas into my own life.

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