We have a stack of books to read. The choices have come from a lot of different directions: lifestyle, business, new technology, programming, retirement. They all feed into the thinking process: what to create next.
Our process has included: watching what is going on in the blogosphere, attending conferences on new technology, trying to identify the most important thinkers and reading what they write, watching for interesting odd-bits and following their trails.
Tim Ferriss’ new book “The 4-Hour Work Week” came to my attention when he presented at the Ignite portion of the Web 2.0 Conference. His presentation “The Low Information Diet” was voted one of the top four presentations, and so he got to deliver it again at the closing session.
As a writer with books to publish, it has been interesting watching him go through the process of publishing his book, working the publicity trail using all the marketing tricks and techniques available. If anything, he is an agressive marketer and communicator. Something some of us frown at sometimes, though we are interested in the success it produces. This week he has been spoofed by Leno and then collected all the extra marketing appearances that such an event produces.
Reading his book has been on the list for two reasons: 1) Seeing how the publishing process works for him; 2) Learning what he has to say about a 4-hour work week. (Which is, of course, an intriguing idea.)
I was surprised at some of the really good ideas in this book, though I have some issues with some of the attitudes and techniques encouraged. For myself, I can see past the seemingly inappropriate recommendations (to daily manipulate your work efficiency to prove to your boss that you should be allowed to work out of the office, for one), and see that there are some ideas that really shift something about how I think about work and business:
- It is possible to separate the ideas of earning a living (money to live) and your life and passionate work (see my work on Updrafting). You can build a business that generates the revenue and free time that allows you to dive into whatever you are passionate about. (This does not mean that your passion is not necessarily the same as the business that earns your income, but just that there is a possibility that you can separate them.) (I have done this before in my work, but not figured out Item 3: a strategic mistake; see below.)
- If you are going to build a business to earn your income, it is most critical to really design a powerful and efficient business model. This is everything, for if the business is not financially efficient, it will not be efficient with your time and resources, and won’t generate income without a struggle. Been there and done that.
- You can design and build a business model that doesn’t (after it is up and running) create a full-time job for yourself. This was really shocking—I always assume that what I am doing is creating full-time work for myself along with other folks. It was a very new idea to think about creating a business in which, as he says, “you outsource yourself.”
- You can design an operational process that doesn’t care where you are—helped alot by the current technology platforms available. And he gives a lot of really specific tips, techniques, and references.
- He gives a few business models for creating a totally outsourced business—they mostly focus around marketing products (things you can buy and resell at a good margin, or books and ideas). They don’t really get into the creative process: some of us are really interested in creating things—which somehow really does take time.
- But the idea of creating a business the sole purpose of which is to automatically generate the revenue to support your chosen life style is an intriguing new, to me anyway, thought process.
- If you created an automated income producing machine, then you get to spend your time on whatever you want. Travel and living overseas seem to be his passions, so he has lots of hints on how to do that on the cheap.
One theme that comes up is that where you live is an important part of the cost structure of the lives we have chosen. It is cheaper to live most other places in the world than it is to live here—thereby the reasonableness of really traveling—vagabonding. Many of the new retirement guides also suggest that life can be a lot cheaper for us if we intelligently chose where to live. The nix in the mix is that some of us have extended families that have inhabited neighborhoods for generations (like ours in Northern California), so picking up and leaving isn’t quite as easy as for some. (And though my children don’t live very close, they are also unlikely to follow us to Nevada or Arizona or Wyoming.)
Do I recommend the book? Yes and no. Some really challenging and useful ideas that I have not previously considered, but mixed in a bit with some shortsighted behaviors that are a little too manipulative. But that’s okay, take what’s useful and leave the rest. In general, it is a new angle from which to examine your life and make some decisions. What do you really want to do?
mpanttaja on June 28th 2007 in Business, Life and Livelihood, Reading