Timothy Ferriss’s book The 4 Hour Work Week inspired me to take the plunge and work for myself so this will probably be the only book that I’ll summarize chapter by chapter. I’m doing this especially for myself but if you find it useful then do leave a comment.

The 4 Hour Work Week is divided into 4 sections - 1) D is for Definition, 2) E is for elimination, 3) A is for Automation and 4) L is for Liberation. This chapter falls under the first section.

Step 1: D is for Definition

1. The GOAL is not to be RICH and MISERABLE.




2. The goal of the New Rich (NR) are very different than the goals of the Deferrers (D) - people who save everything for the end only to find out they don’t have enough time.

   The difference between the New Rich and the Deferrers are subtle yet profound.

   Deferrers (D)	New Rich (NR)
   Work for themselves	Have others work for us
   To work when they want to	Not to work for work’s sake but to get maximum rewards for minimum necessary input
   To retire young ot early	To have mini-retirements spread throughout life
   To purchase all the things they want to have	To do all the things we want to do and be all the things we want to be
   To be the boss and not the employee	To neither be the boss nor the employee but the owner
   To make lots of moolah	To make lots of money but for very specific goals and desires
   To have more	To have more quality and less clutter
   To have a big pay-day in the form of IPO or acquisition	To ensure payday is everyday
   To be free not to do what they hate to do	To be free not to do what we hate to do and yet not work for work’s sake




3. Money is multiplied in practical value depending on the 4 Ws - WHAT you do, WHEN you do, WHERE you do and with WHOM you do it.




4. Who are the NRs?
   • An employee who works remotely to generate 90% of results in 10% of time and follows his/her passion in his/her spare time.
   • An entrepreneur who fires the least productive PITA (Pain-In-the-Ass) customers and automates his/her business to pursue their passion.
   • A student who starts an automated online business.

   In short, options are limitless. All that is needed is replacement of assumptions and change of rules.