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3 Powerful Life Lessons From the Multi Millionaire “Tim Ferriss”

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Tim Ferris 4 hour

Tim Ferriss (if you’re not familiar with his work) is a New York Times and Wall Street Journal best selling author, an angel investor in companies such as Facebook, Twitter, Uber, and Evernote, a blogging/podcasting extraordinaire with more than 1 million monthly visitors to his site, and the first American to hold a Guinness World Record in tango.

He’s one of the only people in the world whose other accomplishments completely dwarf the fact that he’s a Princeton alumnus.

But aside from his laundry list of achievements, Tim is also the world’s leading authority on Lifestyle Design.

What exactly is that? An entirely new and rapidly growing category of blogs, businesses and books focused on challenging traditional assumptions and living a richer life.

In his debut novel, The 4-Hour Workweek, Ferriss begs the question: Why should you have to wait until you’ve worked 40+ years and you’re 65 years-old to start traveling, spending quality time with friends and family, and taking up new hobbies?

Why not live the life you want right now? Why not enjoy every waking moment to the fullest?

Ferris firmly believes in turning the traditional American retirement plan upside down. And rather than deferring all your happiness to the future (65+ years old), he presents the case for us to streamline our lives, build our own business, find joy, travel the world and be passionate today.

As we gear up for the New Year with resolutions and goal setting on our mind, it may be time to revisit a few of the powerful life lessons embedded in his timeless classic, The 4-Hour Workweek.

By applying Ferriss’s philosophies to our next-year’s goals, we’re certain to kick start the year off right and catapult ourselves to greater levels of success.

So let’s dive right in and begin designing the lives we want, TODAY, using these potent principles.

 

1. 80/20 your way to success

Otherwise known as Pareto’s Law, the 80/20 rule says that 80 percent of the results for any given activity come from just 20 percent of the inputs. This is the foundation for many of Ferriss’ guiding tenants. One example of the rule in action for entrepreneurs is 80 percent of your business’s revenue typically comes from just 20 percent of your client/customer base.

Ferriss argues that you should eliminate the 80 percent of things you’re doing that aren’t yielding significant results. And instead you should focus exclusively on the 20 percent of activities that are. In doing so, you free up A TON of your time to focus on duplicating those actions/clients/processes that yield high returns. The 80/20 rule works in the opposite way as well.

Normally, you’ll see that 80 percent of your problems in business or in life come from just 20 percent of the people and clients you interact with.

Remove the 20 percent, and the majority of your problems disappear. Especially as we gear up for the New Year and new goals this principle can be very powerful in terms of showing us the best areas to focus on for maximum results.

However, 80/20 isn’t set in stone; it’s simply a starting point for your analysis. Sometimes you’ll find the ratio to be even higher at 90/10 or even 99/1. Whatever the case, you can channel your energy and stop wasting time on fruitless goals with this in your arsenal.

 

tim ferris quote goals
 

2. Never underestimate the impact of time and mobility on your happiness

A lot people (especially us entrepreneurial types) like to think that money alone will make us happier. Even if we intellectually know that money by itself doesn’t lead to happiness, we still have a tendency—year after year—to make higher income one of our top goals.

This can be very powerful and beneficial, IF done the right way. But for most of us, we just arbitrarily pick an income goal that’s higher than the last year. Instead, we should be picking an income or revenue goal that allows to do the things we want with our lives.

What does that mean? Here’s an example: Let’s say we run an online merchandising business that typically profits $100,000 per year. At that level, let’s say the owner spends 30 hours per week on the business and has time to take three, 2-week vacations throughout the year. The business stays running and automated just fine. However, what most people would do in this situation is raise the goal above $100,000 in profit to $200,000 in profit. Now, instead of 30 hours per week, let’s say the owner spends 80 hours per week on the business (more time acquiring new clients, dealing with customers, and processing orders) and has ZERO time for a vacation.

Which life would you prefer? If we truly look at it, the person making $200K is poorer in terms of time and mobility than the person making $100K. Now am I saying you shouldn’t be ambitious and raise your goals? Absolutely not! But what you MUST always do is consider WHY you want the goals your setting. If your income is going to provide a certain lifestyle for you, but achieving that level of income doesn’t allow you ANY free time, should you really have that goal? We must always remember that being in control of our own time and destiny is essential to long-term happiness, and understanding this is crucial for setting your next year’s goals.

Tim Ferriss Quote
 

3. Always push yourself outside your comfort zone.

Throughout the 4-Hour Workweek, Ferriss lists Comfort Challenges at the end of nearly every chapter.

These challenges range from walking up and getting a guy or girl’s phone number to testing your skills in negotiation at flea markets.

 

Why did Tim choose to scatter these throughout his book? He summarizes the answer in this quote:

“Success can be measured by the number of uncomfortable conversations you’re willing to have.”

Essentially, he’s saying get outside your comfort zone and keep pushing yourself. That’s how 26 out of 27 publishers turned down Ferriss’ idea before he finally got his book published—he kept pushing past doubt and his comfort zone. And when his book launched, it became an instant best seller.

Ferriss’ message for entrepreneurs is you have to get outside your comfort zones and develop socially so you can effectively present and sell your ideas and concepts. But more importantly, the key to a rich life is connecting with people and forging lasting friendships. To do that you have to know how to talk to anyone, with confidence and be persuasive. If your 2015 goals don’t include an element of that, you should revisit and refine them until they do.

Crush it in 2015! And if you haven’t already pick up a copy of The 4-Hour Workweek or any other of Tim Ferriss’ masterpieces.

 

A Day In The Life of Tim Ferriss

Rob Allen is a direct-response copywriter and marketing consultant. He’s sold over $50 million worth of products online. Soon he's launching a podcast, where he's going to interview the world's top digital marketers to see what's working and increasing conversions right now. To get on the waiting list and receive pre-launch bonus materials sign up here.

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4 Comments

4 Comments

  1. ronald

    Apr 4, 2015 at 7:41 am

    I have read Tim books they are totally motivating. I am also on my own success journey. Thank you for putting all the main points in a nut shell Rob.

  2. junriz

    Jan 17, 2015 at 2:07 pm

    Wooh. Great article!, this could be the new lifestyle to desire for.

  3. Rob Allen

    Dec 21, 2014 at 8:40 pm

    Hey Rose, you’re absolutely right. Elimination is one the most valuable things we can do in life; I love this quote “Perfection is not when there is nothing left to add, but when there is nothing left to take away.” And when you view it like that–as you mentioned–goal setting becomes much more powerful. Thanks for your insight!

  4. Rose Costas

    Dec 21, 2014 at 4:56 pm

    Thanks Rob for reminding us how to keep things in perspective. Many times the things we thrive for can consume our life and cause us to no longer live a life we should.
    The 80/20 rule is important and a good one to imitate especially with the new year quickly approaching.

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Why It’s So Important To Break Out Of Your Comfort Zone

Joel Brown (Founder of Addicted2Success.com)

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Fear of Snakes

So I completed a Snake Handling course 6 years ago and during the final test of the course, we were asked to capture and bag 5 of Australia’s Deadliest snakes in a small confined room. The room had a Tiger Snake, Dugite, King Brown, Death Adder and a Red-Bellied Black Snake all slithering around at the same time. I couldn’t believe what I had got myself into.

Snakes were one of the biggest fears of mine. I would imagine a snake running underneath my feet from time to time and I would actually bring my feet up off the floor to avoid getting entangled or bitten by these imaginary snakes I had created in my mind. I would even have nightmares about snakes biting me and it would wake me up in sweats in the middle of the night.

I could have never imagined doing this in my life but I did it because I knew that I had to get passed this ridiculous fear I had of snakes, and I am grateful I was able to show up for it.

Checkout this podcast episode where I share how You can Master your Sub Conscious Programming around your fears in 2 Steps:

While attending this course, the subject of Fear was brought up and the presenter asked a number of people:

 

“What Are Your Top 5 Fears?”

– Public Speaking

– Cancer

– Sharks

– Snakes

– Heights

Were at the top of the list for most people.

 

The instructor carried on with a story of how he had just arrived back from a trip to the Northern Territory of Australia to visit an aboriginal community where he had met a 7-year-old boy who was absolutely scared to death of spiders and the dark.

Killer crocodile fearIt did not matter what kind of spider it is, he was scared and that was that. This boy would hunt crocodiles and lizards but was scared of even the non-venomous spiders.

All he had learned from a very young age was that spiders are dangerous and that they WILL kill you, yet the crocodiles and snakes that the boy would play with and hunt for are by far more deadly than most spiders that your everyday human would come across.

He was taught between the crucial years of 1-6 yrs old that the dark is full of evil happenings and that spiders are incredibly deadly and will kill him if he goes anywhere near them. So he was devastated to sleep in the dark and would jump on near by people just to get away from a spider nearby.

I’m not here to say that spiders aren’t dangerous, they are, and some out there have the potential to kill you. This boy was right to be cautious around spiders but where he lacked knowledge, or the right information about these creatures, eventually left him fearful of something he had never really understood.

This boy is just an example of many other people out there that are limited by their fears because of the little that they know. The less you know, the more fearful you are. This is only human and we are naturally scared of the unknown.

So the key thing here is we need more “KNOWLEDGE!” and it is in our best interest to want to understand how things work if we want to become less fearful of what the wild and wonderful world we live in has to offer.

You have to “EXPERIENCE” things to have a better understanding of the activity or whatever it is you are most scared of.

Joel Brown Snakes Fear

Joel Brown – Certified Snake Handler

When you increase your knowledge you can grow to the level where your fear is set at, so when the two meet it creates a level called “RESPECT”.

This is the perfect level to be on because you will now have a respect for what you fear which will allow you to then work with it rather than being submissive and missing out on the wonderful feeling of successfully OWNING! the outer areas of your comfort zone.

Everybody has a fear of some sort and learning more about what you fear and even voyaging through your ‘un-comfortable zone‘ will prepare you for the hard knocks in life on your road to success.

 

I have a few more fears to conquer myself and I am happy to say that I have crossed ‘Snakes’ and a number of other top things off my list. I’m sharing this story with you in hopes that you too will face at least one or two of your fears. Not to say that “you did it“, but to prove that you can outgrow your own personal limitations.

Your fears could be holding you back, they could even be the final piece you need to experience a brand new lifestyle or a brave new world of fun.

 

So get out there, learn more and grow!

 

No matter the storm, may your Faith be stronger than your Fears – Joel Brown

 

 

Feature Image Original Source: Indiana Jones – Raiders Of The Lost Ark

 

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