pareto principle

Video Secrets of the Four Hour Work Week by Tim Ferriss

In his best-seller “the Four Hour Work Week”, Tim Ferriss shares some of the secrets of working less and enjoying life more.

In the short video below, he shares some of the key secrets of freeing up your time.

These include:

1. Process of Elimination
This is based on Pareto’s 80/20 principle. To make this work you have to find which 20% of activities generate 80% of your desired results or which 20% of people consume 80% of your time. If you apply this principle to everything, you will be able to find your:
– Inefficiencies and eliminate them.
– Strengths and critical tasks you should focus on

He argues that a traditional fixed daily timetable has no value in the modern world and is a legacy of an obsolete way of working.

In the knowledge economy, we should aim to move from ‘presence to performance’.

If you cut out the things that swallow your time without making any contribution, you’ll find that very few things matter.

2. Cultivating Selective Ignorance

To make the most of our time, we need to be on a ‘low information’ diet. Trying to keep abreast of all developments will ensure most of your time is spent in input and not enough will go into output. And you can’t possible digest all that information.

A more effective approach is to catch up when necessary rather than to keep up. The secret is to let things wait.

He describes email as ‘the single largest acceptable interruption in modern life.” It allows us to “simulate forward motion without actually achieving anything.”

The way to deal with email, he argues, is to check it twice a day and focus your time instead on critical tasks.

3. Outsource Your Life
You need to replace the concept of annual income with hourly income. In practice this means hiring virtual assistants to help you with everything as the costs of paying people is often less than the value of the time we give up for many routine tasks.

The overall point is that if you want to set yourself up to win, you should set your own rules rather than following those set by others based on an outdated way of thinking.