Hello Friends, I am sharing these things from the book “The 4-Hour Workweek”. I hope, you must will found this article informative.
Imaging for a minute that you have to work only four days in one week and You can work from anywhere and anytime in the whole world.
You can travel anywhere in the whole world and your online business is giving you millions.Is it possible?
Yes, keep reading this article with your full concentration and dedication to know this possible. So let’s begin the summary of The 4-Hour Workweek.
Suppose there are two men, Robot and Bob. Bob works in a big company and earns 12 lakh rupees a year and The robot has started an online business and earns Rs. 6 lakhs a year.
And if I ask you which of the two will be richer then Most people would say that bob would be richer than a robot.
Because bob’s salary is twice the salary of Robert and it is true.
So let’s go to their second part, where we will calculate their absolute income.
What’s in it for me?
- Relative income vs Absolute Income
- Mini Retirements And Geo Arbitrage
- Income Automation
- Effective Not Efficient
- Conclusion of The 4-Hour Workweek
- Frequently Asked Questions
Lesson 1: Relative Income vs Absolute Income
The world is not relative in real. Bob works 80 hours a week in comparison to relative income and the same Robert works for 10 hours in 1 week.
According to which if we calculate So, Bob who gets Rs 288 per hour, and Robert gets Rs 1153 per hour. So, you think who earns more.
Our time is very valuable and if we relate it with money and time, then Robert is richer than Bob because Robert worked 70 hours less than bob.
In those 70 hours Robert can do some more important works like they can learn new skill and he can expand your business and make more income.
He can give time to his family and friends. So that his life will be more happy and positive.
Now, let’s go to the lesson 2 of The 4-Hour Workweek which is Mini Retirements And Geo Arbitrage.
Lesson 2: Mini Retirements And Geo Arbitrage
Not only this, Geo arbitrage makes this comparison even more interesting. Bob works in a big company which is in an expansive city.
Due to which you have to travel more, so it is very important to stay with his company.
On the other hand, the robot works online so that he can do it from any corner of the world, all he needs is a laptop and internet.
Right now I am telling you because Bob who has to go to his company 4 to 5 times a week.
And He has to spend a lot of money for this journey and food and the rent of house.
And he lives in Metro City, so he has to spend more money, due to which his savings are very less and on the other hand.
Robot works online, so he can travel around the world, he can work at the same time and he earn in dollars.
And spends in Rupees and he lives in his hometown, so his expenses are very less.
Now if I compare then Bob can go to a restaurant once and eat the Proper meal.
And Robert can go to the restaurant 6 times in the same amount and eat proper meal.
And because of all these things Robert’s expenses are reduced and budget is high. Which means arbitrage, to gain more returns.
To benefit from the economic gap in market, which is possible only for Robert.
But not for a lot, now important question has been asked.
If we can earn more money by investing less time like a robot, its answer is yes.
Yes it is possible and you can also automate your income which we learn in the lesson 3 of The 4-Hour Workweek.
Lesson 3: Income Automation
There are two types of income.
We have to be active for this income, that means if we do not work, then we will not be able to earn money, like to run a shop ourselves and a job.
In this income, you do not have to work to earn money and if you have to, then for some time only, like shop for rent.
You can make money from it and you don’t have to do anything and you can upload a video by creating a YouTube channel.
And you can always earn money from youtube. The Internet Can Make Automated Money From It And These 3 Most Popular Ways To Make Money
- Product or content
- Reselling is simple, Ali baba , Amazon, Flipkart, etc
The easiest among these three is the number third reselling.
Suppose you are a reseller, then you have to buy the product first you can buy from any online store.
Such as Ali baba or any local shop from where you can get the product at a lower price.
And by adding your profit in it, you can do it on your website.
But after a little practice and training, you can earn very good money from it.
These books help you to become rich and also help you to manage your money.
Let’s move to the lesson 4 of The 4-Hour Workweek which is Effective Not Efficient.
Lesson 4: Effective Not Efficient
No matter how much we accept, we will always have a short time; that time is 24 hours for everyone. Some one has more or less one.
So we should be effective, we should outsource our work and wanted to use 80/20 principle. We get maximum results like our minimum effort.
Just like we get 80% result due to 20% of the exams in exam, so we have to find out what is 20% of the work.
So that We get 80% result and we have to do it with full dedication so that we get success.
Now, we learn how to outsource our less important work in lesson 5 of The 4-Hour Workweek.
Lesson 5: Outsource
Finally comes to outsource, I was in my childhood. So, I am looked at the rich people and think why do they hare other people for their easy work.
Such as Driver, servant, and Cook. I used to think that rich men are very lazy or do this to maintain their social status. But I was wrong.
People with rich mentality do this so that they can save their time because people with rich mentality know that nothing is more important than time.
So, how much time do people with rich mentality do some important work by saving time.
That’s why they earn so much money that they are more than their servant salary.
So, that’s why we should outsource our less important work so that we can save more time and put in more important work.
Now, this is the last lesson of The 4-Hour Workweek. So, let’s move to the Conclusion.
I suggests you to read the zero to one summary which help you to grow your business. This book is the best book from a business point of view.
Conclusion of The 4 Hour Workweek
Tim Ferriss is The 4-Hour Workweek has been subject to both positive and negative reviews.
It comes down to personal opinion but there are conclusion of five clear lessons that can be learned by anyone. Who gives it a chance one.
Minimize Input Maximize Output Service:
Notes that free time is useless without free attention and you’re only pushing life’s more important moments to the sidelines.
He suggests readers taken information fast for one week shutting off non vital information that’s conflicting with your ability to perform.
Trade Control For Freedom:
There is suggest that we don’t need 100% control to achieve success rather than hiring an assistant to share your load with it’s better to actually allow yourself to let small bad things happen.
You’ll save money and have the freedom to be self-sufficient and realistic about your limitations.
Automate Income To Create Freedom:
This controversial aspect of Ferriss his book suggests that people follow a process for setting up a business which once off the ground requires minimal effort to maintain.
Finding people who are passionate about what you do could turn your business into a self-sufficient.
Separating Life Work From Income:
Ferriss introduces his readers to the fact that work and life goals are two entirely different things not everything should revolve around profit.
And it’s important to occasionally shift the focus to things that allow you to relish in the bliss of the greater scheme of things.
Live Life Today:
Stop putting things off for a day that might never even arrive.
es, set goals but don’t let it affect your ability to live decent life now a simple shift in focus can make a resounding change for the long haul.
The full detailed summary and analysis of the 4-hour workweek by Tim Ferriss and be the owner of your own existence. I hope you enjoyed this summary of The 4-Hour Workweek.
Frequently Asked Questions About The 4 Hour Workweek
The 4-hour workweek book wrote by Tim Ferriss.
The 4-hour workweek by Tim Ferriss was published in 24 April 2007.
There are 308 pages in the 4-hour workweek book.
The date of birth of Tim Ferriss is 20 July 1977. So, according to that his current age is 43 years.
Hi, I’m Shivam | Currently, I’m pursing my first year B. Tech. I hope you like my articles.