If you heard of a new book called The 4-Hour Workweek, you know who is Timothy Ferriss. Tim speaks six languages, runs a multinational firm from wireless locations worldwide, a national champion in Chinese kickboxing, and has been a popular guest lecturer at Princeton University since 2003. Recently his book caught my attention. The title itself is very attractive to me who work at least 40 hours per week (if not more). There are positive reviews about the book around blogosphere, and it is currently on #9 of the Amazon best-seller list. So I sent him a quick email to setup this interview and just get to know him more.Read full content
In Part 1 I ask Tim about some general questions, including his view on productivity and 20/80 rules. In Part 2, Tim gives me some great answers on his views on lifestyle, work life, and outsourcing.
Q: Tim, you have done a lot in your life – you are a kickboxing champion, a world record holder in tango, as well as running a multinational firm. What other things have you done in the last few years? Which are the things that you are most proud of?
TTT: There are a few fun ones that stand out, like finally training in kendo in Japan, where I killed myself last September and fulfilled a life-long dream, but I’m definitely most “proud” of conquering two fears.
Learning to surf in Florianopolis, Brazil, was a huge win for me because I can only use one lung fully (due to being born prematurely), and I’ve always been deathly afraid of drowning. One good friend and I actually reserved a VIP table at the world-famous night club Confraria there — $60-100 USD per night — so I could finish editing my book over red wine and dancing locals at night. It was incredible, and I owe a lot to my friend, Chris, for keeping me from panicking in the water.
Second, writing this book required me to conquer serious inner demons. I was mildly dyslexic at a young age and still have a lot of trouble with dygraphia: miswriting and mixing up letters. Finishing my senior thesis in college almost killed me, and this book was more than twice the length. I’ll just remember the advice my former professor and Pulitzer prize winner John McPhee gave me when I first sold the book: “When it seems like writing is really, really hard, just remember: writing is really, really hard. I sit in front my my typewriter from 9 to 6 each day, and most of the time, I get nothing done.”
Q: Your launch of your book, The 4-Hour Workweek, is extremely successful. Why do you think it is so popular and the idea is widely accepted?
TTT: There are a few reasons. First, the topic hit at the right time. Forbes recently reported the new average workweek as 70 hours, and this will only increase. It’s unsustainable, just as I realized in 2004, and people want alternatives to postponing life for 20-30 years for a nebulous “retirement”. The 4-Hour Workweek offers a different menu of options — mini-retirements, outsourcing life, etc. — many of which people haven’t really seen before.
Second, I didn’t follow a top-down, Oprah-as-messiah PR and marketing plan. I’d love to be on Oprah, but seeking that stamp of approval is a gamble for a first-time author. For those familiar with Glenn Reynolds book “An Army of Davids”, I embraced a few groups of Davids and took an bottom-up approach, embracing thought leaders where possible, to harness the most efficient word-of-mouth network in the history of the world: social media. I give away plenty of ideas and stir up discussions — and arguments. I just want people to talk, and when you create enough noise, the books move. It hit the NY Times and Wall Street Journal lists based on the first 4 days of sales with no offline PR or advertising, and it’s been in the Amazon top 15 or so for five weeks now. I hoped for this, but I never could have expected it all to come together so well. Plenty of luck involved, I’m sure!
Q: I love preaching about productivity, but you are taking productivity to the next level – wow, the 4 hour work week. I would say it is the holy grail of work-life. What are your tips to achieve this kind of productivity in your life?
TTT: Think instead of react. Take frequent breaks and strive to constantly eliminate instead of organize. Create not-to-do lists and cancel, fire, subtract, and eliminate, eliminate, eliminate. If you remove all the static and distraction, priorities become clear, execution becomes a one-item to-do list, and time management isn’t even necessary. Honestly, this is the holy grail. It took me a long time to figure out that, in a digital world of infinite distraction and minutiae, he who has the least number of programs running in mental RAM wins. Every time. I’ve interviewed everyone from gold medalists to CEOs who make $100 million a year, and their one common characteristic is the ability to “single-task” without interruption. It’s deceptively hard if you don’t have a solid method.
Q: I am a fan of the 20/80 rules, as you are. I realize it is not a scientific formula, but it gives an air-horn alert on what should we really be focusing on. People ask me how to effectively identify the 20% of work which produce the 80% of the output. What are your key factors to assess this?
TTT: Before we analyze, we have to answer the question: what are the metrics that matter? The metrics that matter are those that measure your progress towards a well-defined goal. Is it $X in profit? Is it a certain income-to-hours ratio? If you can’t measure it, you don’t understand it. To quote Peter Drucker: “what gets measured gets managed.” Let’s say it’s income-per-hour. I would first apply the 80/20 principle to a few areas: what are the 20% of customers/products/distributors that are producing 80% of the profit?
Then we do the less common; we apply 80/20 to the negative: what are the 20% of activities and people that consume 80% of your time? Fire high-maintenance, low-profit customers; create communication barriers for time-consuming colleagues; train your boss to value performance over presence with clever documentation, create a not-to-do list of your “crutch tasks”, and outsource the rest.
There is another approach for determining the critical few. Limit time. Here’s where we apply the lesser-known Parkinson’s Law, which dictates that a task will swell in perceived difficulty and complexity in direct proportion to the time we allot it. For example, if you suddenly find out that you have an emergency and need to leave the office at 2pm, what happens? You miraculously get the most important work done three hours early. In other words, we can use the 80/20 principle and Parkinson’s Law hand-in-hand. We use the 80/20 principle to limits tasks to the important to reduce time. We also use Parkinson’s to reduce time (short deadlines) to limit tasks to the important. Pretty cool — and jaw-droppingly effective — when used together.
Q: You mentioned elimination is the key element in your productivity system. How is it different than optimizing process or system to save time? What type of people should take one or the other approach, or both together?
TTT: I think they’re the same thing — in my world. “Optimize” should mean removing the nonessential and minimally important until you’re left with the bare essentials necessary for producing the target result. This is what Arthur Jones, founder of Nautilus, would call the “minimum effective load”. Think 37 Signals and Occam’s Razor.
Unfortunately, this word “optimize” is so overused as to be meaningless, so people usually use it to justify endless addition — of features, customers, options, rules, etc. — that complicates instead of simplifies. I wanted to be a comic book artist, a penciler, for almost a decade, and I still stick to the philosophy one New Yorker cartoonist taught me ages ago: when in doubt, black it out. Fewer is better and less is more. Perhaps you have an issue, a product, a situation, or a person that is extremely difficult to fix? Consider just eliminating them.
We will cover part 2 of this interview tomorrow. Stay tuned!
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