One of my all time favourite book has to be The 4-Hour Workweek. This book is jam-packed with tips and advices to get away from 9-5 job and create a lifestyle that you can only dream.
As a young person I always believed and furthermore it was drilled into my mind that regular 9-5 job is the only way for happiness and owning business is the worst decision someone can make in their life.
As a person who does not naturally enjoy reading books, but this book was a walking down the park. Each page did push me to read the next one, this is an eye-opener book to me. There are plenty of great tips and advice on this book and it makes very hard to pull out few.
- Always be effective and not efficient
Tim Ferriss mentions Pareto principle which says that for many outcomes roughly 80% of the consequences come from 20% of causes. Therefore, Tim suggests us to spend time effectively and not efficiently. He also says that instead of doing many things as best as we can, just focus on few things that will lead to bigger result.
- Always validate you business idea
In order to make sure that your product or service sells well, you have to validate your idea first. Because it is the worst feeling of spending all your important time and money to create a masterpiece of business and then discovering that nobody is interested and hence not generating any money.
A great way to validate your idea is to ask your family and friend, but never mention that the idea is yours. Because they love you and they don’t want to hurt you. Instead tell that the idea is your friends and you are just surveying people, that way they will most likely be honest with you.
Also, another way to validate your idea would be what I like to call “The park method”. Just go to the park and talk to a stranger, they will most likely answer your question in great depth. Also give you some priceless advice. This because they are just chilling and have nothing to do better that time.
- Charge a premium and focus on quality
One of the best advice that I got from this book is that you should never aim to be the cheaper person out there, but always focus on high quality and charge a premium.
This might sound very bad, but believe me from experience if you charge premium, people will assume that they are getting high quality product/service and there will be far less headaches. Also, remember that people are willing to pay for high quality.
Furthermore, those people value their time and they will less likely be returning products. Hence, always provide high quality product/service and build a good relationship with customers.
Overall, this is a great book with plenty of priceless advices and I would strongly recommend this book to every students who are not sure of their future career and maybe are thinking of a different path.