BOU reviews the Four Hour Work Week

Click here to Listen to this interview or download it to your computer!

Mike Alaniz is an insurance broker and the owner of “On the Rocks,” a catering & bartending service in the Los Angeles area.  Mike joins me in today’s audio post as we discuss a book that has received a lot of attention, “The Four Hour Workweek.”

Click here to Listen to this interview or download it to your computer!

I’ve summed up a few of the main points from our conversation below…

  • The New Rich – Timothy Farris introduces the idea of the “new rich.”  These are people who measure their wealth not in the dollars they have in the bank or the assets they own, but rather by the free time and mobility their lifestyle can afford them.  They have created systems within their job or business that allow them to have excess free time and to be location independent.
  • Leverage – The new rich leverage other people’s time and resources to free up their own time to engage in more productive revenue generating activities.  Essentially, the “new rich” are masters of the Pareto principle, also known as the 80-20 rule.  By outsourcing low-level tasks – email, customer support calls, etc. – and automating issues that would normally require their attention, they can generate more “wealth,” a.k.a. “time.”
  • Concentration – The NR (new rich) batch communication so they can function at the highest level of concentration.  They make people work around their time table, not vice versa, by only answering email during a pre-determined time of day, returning phone calls during a select block of hours, etc.
  • Universal Principles – “The Four Hour Workweek” tends to skew toward selling/advertising products via online, but the principles in the book can be applied to any brick-and-mortar business or even to enhance your day-to-day work performance.

Shortly after this conversation, I broke down and decided to purchase both the hard copy and audio version of this book.  After reading the entire text cover to cover, I would have to give it two-thumbs up.  Again, not all the examples are going to be practical for everyone, but I think many of the over-arching principles can be extracted and applied to everyday life.

What are your thoughts on this book/post?

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Comments

  1. lisa says:

    Hey Arthur,

    This was a great post. I enjoyed listening to it. I’m actually going to buy the book. You guys should do a review of “switch” I’ve been reading that lately and it is also really good.

    • Arthur says:

      Thanks Lisa! I am glad you enjoyed the post. We were really excited to do this one. It is such a great read. it is definately “out of the box.”

  2. Mark says:

    Is this something you are going to be doing from time to time? if so, I have a few books I’d would love to hear your guys talk about.

    • Arthur Garcia says:

      Hey Mark,

      Yes, this is actually something I am going to try and work toward. I am working on few ideas, but please feel free to email me any books or ideas you may have. Are there any books you would specifically like to hear us review?

  3. Kevin says:

    Good interview. I love that book.

    • Arthur Garcia says:

      Kevin,

      If you don’t have time to read the paperback, do yourself a favor and download the audio book. It makes for a great read while working out or in the car.

      Thanks for the comment!

      AG

  4. I agree, this is a great book. I read it on the plane on the way back from vacation last year and it definitely got me thinking. Today’s “new rich” definition of wealth isn’t so much houses, cars, fancy vacations, etc. as it is simply freedom. Freedom to do what you want when you want.

    • Arthur Garcia says:

      Mark,

      Thanks for the comment.

      You are totally right regarding the new rich. I’ve been reading up on the life of J.P. getty and according to what I read, it was very common for him to work 14-16 hours a day?? Crazy, huh? I understand the idea that when you are doing what you love it doesn’t feel like work, but I still think there is a better way. I guess the 4-hour work week was proof that people can still have their cake and eat it too. Thanks again for sharing your thoughts!

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