The 4 Hour Work Week - Thumbnail Review

   Ferriss is known for his application of both the Pareto principle and Parkinson's Law to business and personal life. He has also taken the position that technology such as email, instant messaging and internet-enabled PDAs complicate life rather than simplify it. His teachings fit under the umbrella of what he calls "lifestyle design", in which he promotes "mini-retirements" as an alternative to the "deferred-life" career path where one would work a 9 to 5 job until retirement in one's 60s. This involves breaking what he calls "outdated assumptions" and finding ways to be more effective so that work takes up less time.

   On his blog and later in his subsequent books, Ferriss applied this approach to areas other than business. His book on fitness, for example, claims to provide the exercise and diet advice that produces the greatest results with the least amount of effort or time. Ferriss uses the analogy of the "minimum effective dose" to describe this technique. A good example of the idea of Minimal Effective dose can be found if you look up the band “Axis of Awesome”. They could show you how to learn to play 47 well known tunes on the guitar – by only learning 4 cords!

   Another thing Ferriss talks about is how you need to realise that if you “lose everything”, you actually haven’t lost that much. He said that he considered what would happen if the first incarnation of his company had went bust. He wrote that he would have to downsize to a wee flat, he’d sell of his baubles and would get a job in a bar. This would tide him over until he could get back on his feet. This is a good point, well made. The unfortunate thing he doesn’t mention is that most people in Scotland are tied up in such a web of debt that they would be declared bankrupt within a few months of non-payments and therefore would have a doubly hard climb back up the hill of success. From my point of view you need to minimise your direct debit commitments. Recently my wife stopped working full time. Due to this I needed to take over her commitments and I was literally astounded by her level of DD’s (...... not her 38DD’s!). She had council tax, TV License, AA, Weight Watchers, Optical Express, Sky, Mobile Phone, the lot. Every month when her wages came in at least £350 would immediately be siphoned off for these guys. She even had one of those bank accounts you have to pay for, my God. How can you live freely when you have such a millstone around your neck. My advice to youngsters entering the world of work is to trim your direct debit commitments down to an absolute minimum. Sky? Watch via your laptop for free. TV License? Watch on your laptop and you’ll never get caught (and I’m saying that as an Ex TV Detective). Weight Watchers? Take up gardening and eat less junk food. Mobile Phone? Go PAYG; Phone the people you want to speak to but hang up before they answer. They’ll call back to see what you want. Bank Account? Never, ever pay for a Bank Account. You are already paying for it via the terrible interest rate you receive on your savings.