Sunday, February 7, 2010

The Four Hour Jolt! Part 6

The Four Hour Jolt! Part 6
Derived from Timothy Ferriss, The 4-Hour Work Week - New and Expanded Edition Now Available!

Tim's Blog:

RAP5: Automate

: The 40 Hour Week is all about turning up. The 4 Hour Work Week focuses on creating a cash flow vehicle that runs on auto pilot by tapping into contemporary digital tools and global realities. If you want to work less and still get the job done, earn a good income, and live life on your terms, there are news ways to leverage your efforts. This applies to entrepreneurs AND employees.

In the good old days only companies outsourced their staff.
Today, via the global, connective internet we can all outsource ourselves.

YourManInIndia, Guru, Elance and other websites enable you to employ someone, mostly MBAs, from India or China or
the US who’ll take on the tasks that you don’t want to do.
  • What could you achieve with a Remote Executive Assistant?
  • How could you outsource your current job?
Quantify the value of your time and outsource anything that can be done for less per hour by someone else – anywhere in the world – virtually; do more by doing less.

The Art of Delegation
  • Before delegating tasks, eliminate all the unnecessary ones to make your life easier.
  • Delegation requests need to be well-defined.
  • Get an assistant - even if you think you don’t need one.
  • Start with small tasks and the ones stuck on your to-do list.
  • Avoid managing others until you can manage yourself! A Basil-esqe management styles is not a good look.
Income Autopilot
One of the simplest way to generate automatic income stream is to build a product that can sell itself on the internet. Here’s an overview...
  1. Market Selection - Find a niche that you can reach and research what problems they are experiencing.
  2. Product Brainstorm - Consider a range of product offerings including reselling some one else’s product, licensing a product or creating your own.
  3. Micro Testing - Using Google Adwords test responses to your ads to attract people to your website.
  4. Roll out and Automate - Create online systems to automate your business. Including: advertising, shopping carts, fulfilment/delivery, banking and customer service.
If you want more... buy Tim's book!
Automate Questions
  1. Can a Virtual Assistant complete this task for me? What can I eliminate before I delegate?
  2. What are your top 5 time-consuming non-work tasks than you could assign to your assistant?
  3. Which affordable-to-reach niche market will I sell to?

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