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Since recently starting with A New Online Marketing System that has more Profit Potential, Leverage and “Done For You” Elements than Anything I’ve seen online in the last decade, I decided to revisit an old classic, “The Four Hour Workweek” by Tim Ferriss.
I’ve read the hard cover book at least once and I’m currently listening to the Audible version for maybe the 4th or 5th time. I get something new every time I consume it and the book is inspiring me to fulfill “dreamlines”with my new found free-time, rather than filling my day with low leverage “busy work” by default.
If you’ve never read this eye-opening lifestyle design masterpiece, I highly recommend it for anyone looking to recapture your time and design a life of freedom, regardless of your current situation or circumstances.
It is chock-full of actionable strategies for creating more leverage and getting time-sucking minutia off of your plate so you can Live Your Best Life NOW, rather than 10, 20 or 30 years from now.
This post is designed specifically for home business owners and I even share major problems I see with many very common home business models and biz-building practices that are widely taught in our industry.
For most, these models and strategies are setting up Freedom Seeking Home Business Owners like you and me with a “Sacrifice Today And Someday You Can Have A Residual Income” Mentality – that keeps millions of people in our industry stuck spinning their wheels and seeing just enough results to stay hopeful and connected.
This is a MAJOR barrier standing between you and the “Freedom and Lifestyle” that we were ALL promised when we got into home based business. (See the bottom section of this post on “Maximum Income for Minimal Necessary Effort” for more on this)
Before we get into the BIG, Liberating Principles and Lessons from the book, here’s one really cool resource I pulled from the chapter on “Elimination”
I’ve been using this resource for about a week now and it has at least doubled my personal productivity and helped me to recapture several hours of my time that were being wasted on low level activities and distractions that make me want to vomit all over my laptop!
Here’s how it works….
When I go to perform an income producing activity like creating a new Facebook story ad, making a new promotional video or creating a new piece of content, I first give myself a specific amount of time to complete the task and then go to E.GGTimer.com and put the time allotment for the task in the filed at the top of the page
Or I simply go to http://e.ggtimer.com/30minutes
And the countdown begins.
Don’t let the simplicity of this tool fool you… If you are like most home business owners simply by giving yourself a set amount of time to complete a task and sticking to it….
…..Will keep you Laser Focused on the Income Producing Activity and out of Time-Sucking Internet Marketing Rabbit Holes like checking your email or browsing the Facebook “Newsfeed of Death,” Which is hands down the biggest dream-crushing productivity killer of the online home business owner. <<=== PLEASE LEAVE ME A COMMENT AT THE BOTTOM OF THIS POST IF YOU AGREE OR DISAGREE WITH THIS ASSERTION!
Ok lets get to the lessons that are going to liberate your time and create waves of cash for your business!
The 80/20 Principle and Freedom Multipliers
If you are in business you need to get very clear on the concept of 80/20.
Here it is in a nutshell.
80% of the input will come from 20% of the output
80% of your network marketing company growth is due to the work of 20% of the distributors.
20% of the TIME you devote to your business will be responsible for 80% of the results (sales and revenue) you produce.
You get the picture?
80/20 is EVERYWHERE!
There is also 80/20 to the power of 2 (95/5) and 80/20 to the power of 3 (99/1)
In a different book I recently read, “80/20 Sales and Marketing” by Perry Marshall…
Perry asserts that there are “95/5” and even “99/1” leverage points hidden all over the place in your business.
Most of us are simply not trained to see these profit-pumping blind spots.
Training yourself to see those leverage points by reading books like “The 4 Hour Workweek” and “80/20 Sales and Marketing” and getting around marketers who truly understand and implement this principle is one of the smartest things you will EVER do for your business.
Another thing Ferriss asserts in the book is that, “The amount of Freedom you have in your life depends on how many W’s you control”
What you do
When you do it
Where you do it
With whom you do it
Money is multiplied in practical value depending on how many of these factors you control.
If the growth of your business is dependent on home meetings or prospecting strangers on Facebook, pretending to be their friend and then trying to pitch them on your business, I’m sorry to say that you have very little leverage in your marketing and you will find it very difficult to scale your business.
With this in mind, the network marketer who spends 6 hours per day prospecting and makes 10K per month (because they’ve been doing it in the same company for 5+ years) is FAR LESS WEALTHY than the 80/20 marketer who makes 10K per month and spends 2 hour per day placing banner ads, managing ad campaigns or writing email broadcasts and spends the other 4 playing with his kids at the beach or going snowboarding.
Makes sense right?
More Customers is NOT the Goal – Maximum Income from Minimal Necessary Effort, Including Minimal Number of Customers, is the Primary Goal
This statement (taken directly from the book) goes against most home based business models where you need hundreds of customers in your downline in order to make any substantial income.
More customers usually means
More support requests
More people demanding your time…
And if you want a true 80/20 “Lifestyle Business” that provides you with “4 Hour Workweek” freedom potential, you have to be RUTHLESS when it comes to protecting your time!
One of the biggest principles that Ferris hammers home in the book is that,
“It’s not about the big pay-off some day, it’s about immediate cash flow every day”
Which is why I prefer a top tier business where you can quickly scale to $10K+ per month with a handful of team members, rather than a low ticket MLM business that requires hundreds or even thousands of customers to get the same result.
With a top tier direct sales business you can also make enough money when someone joins to cover your advertising costs AND make a healthy profit….
….Rather than a low ticket multi-level (MLM) business where the profit margins are much smaller and you need 50+ customers to even cover your monthly auto-ship let alone pay your light bill. <<== This is NOT an exaggeration! I recently had an MLM’er Apply To Work With Me in my New Laptop Lifestyle System and she told me that she had been building her MLM for over 4 years, she had about 50 active customers and the income that produced did not even fully cover her auto-ship commitment.
That situation is WAY too common for people who got involved in the industry to Live the Dream of Freedom and end up living a nightmare of time-sucking recruiting strategies with zero leverage for 5-10 years only to have to babysit a team to maintain a residual income check that will likely never come.
And due to the low profit margins in MLM (because so many people need to get paid down the line) the ability to scale your business with paid advertising goes out the window along with your leverage potential and free-time!
You cannot scale Free strategies that require so much of your time – Its as simple as that.
This is why we focus on paid advertising strategies…. And You need to be in the kind of business that is workable with paid advertising.
Most online businesses (Especially MLM’s) are not!
“For the **NR** The Goal is NOT to make as much money as possible. The Goal IS to have a business that bothers us as little as possible” Tim Ferris (The Four Hour Workweek)
**NR** is the term Ferriss coins in the book for the “New Rich” – a sub culture of people who have automated incomes with massive leverage and as a result can live the dream of Freedom now, rather than “someday.”
If the quotes the lessons and principles in this post (and especially in this section of the post) make sense to you…
And you want to learn more about my new top tier business and online marketing system that embody the 4 Hour Workweek Principles and allow you to leverage your time with done for you resources like
Done for you Traffic and Leads
Done for you Content Marketing
Done for you Email Marketing
Even Done for You phone sales….
Then right now you need to….
Please leave a comment below if you agree or disagree with anything I said in this post or if you want to discuss your own experiences and what you learned from Reading “The 4 Hour Workweek”
Until next time