Imagine actively working only four hours per week. What would you do with all your time?
If you’ve drawn a blank, you are probably going to have trouble getting to this point. Why?
Because time is precious. If you don’t value it, it will disappear like smoke in thin air. You’ll squander it like someone else’s money, when in fact it’s your most valuable currency.
Tim Ferriss’ Four Hour Work Week is one of my favourite and inspiring books because it reveals the truth about the madness of today’s corporate workforce. Pushing papers around from 9 to 5 has little to do with productivity when you can get the same amount of work done in only a few hours a week. Seriously – most of what we do is highly unproductive. We may be super efficient at it, but it does little to increase our income.
Yeah, but is this realistic you say? I’m going to stop you right there and tell you to throw that word “realistic” right out of your mind. Just banish it. It’s a word for people who want to settle for status quo and mediocrity, who follow the flock of sheep in society. The only reality is that what you create in your mind.
Anything is possible, you just need to believe it first (unconsciously too). People thought going to the moon was not “realistic”. Well guess what? It’s been done! What you create in your mind is reality.
The question really is, how much do you value your time? Your life is finite and goes by faster than you think. The quality of your life is the number of quality experiences you create in your life. Daily drudgery that kills you deep inside will make years of your life slip away into oblivion. You need to start seeing time as your most valuable currency. Then you can start to truly master it.
So how do you make enough money to support yourself and your family in only a couple hours a week? How do you compress 40 hours into 4 hours? The answer is very simple: Leverage.
Leverage is the art of putting in a small effort to get big results. Think of a lever. The further the fulcrum (the balance point) is from where you are pressing down, the heavier the object you can lift with the same amount of effort. The same applies to money.
Here are a few ways you can make your time more efficient and use systems to leverage your effort to produce 10x the results in your life with 1/10th of the time.
1. Other People’s Time
Outsourcing is the best way to leverage your time. Hire other competent people who have the skills you don’t have or do things that you don’t want to do or take a lot of time. Some people are perfectly happy trading their time for money. There’s nothing wrong with that, however, you and I have a different vision of how we want to live our life. That’s why you need to work smart. Think of outsourcing as providing a job for someone and giving them an opportunity they may not otherwise have had. Remember, it’s their choice to accept or not.
2. Other People’s Money
I’ve been bitten hard by this one because it’s a double-edged sword. When you borrow money via credit cards or loans, it’s easy to create “bad debt” (buying liabilities, which take money out of your pocket), rather than creating “good debt” (buying assets, which put money in your pocket). The key is self-discipline and it needs to be developed over time. Sheesh, I’m still developing it and am far from perfect yet, but I’m getting much better. Once you can learn to use other people’s money to invest in assets that pay themselves back, you’re on your way to a lifetime of wealth.
3. Other People’s Credibility
If you’re just starting out, nobody knows you, so how can they trust you? You associate with successful people. Interview experts in your field and post them on your wall. Get testimonials and reviews from leaders which dramatically raise your level of credibility and will help you to build an audience that knows, likes, and trust you – which is the fundamental basics to make a sale.
4. Other People’s Network
You may not have an email list or a network of contacts, but that doesn’t mean you’re going to struggle. Go to entrepreneur network events, meet likeminded people and the more people you know, the more resources you have access to. You can tap into existing affiliate networks where thousands of marketers are waiting to promote your product. You can have someone send out an email to their list on your behalf. Think about how you can do this to maximize your leverage.
Here’s the take-home: When you start respecting and valuing your time, other people will start doing the same to you. Imagine effectively making $1000, $5,000, or even $10,000 or more per hour? It’s possible when you use leverage. If you make $16,000 per month and work only 16 hours a month, your effective time value is $1000 per hour. Think automation, delegation, and super-focused activity. This is what the four hour work week is all about.
Click here to grab a copy of Ferriss’ bestselling book The Four Hour Work Week.