4 Hour Work Week
Posted on October 7, 2011
Today, I made a decision.
This is probably the most important decision of my entire life. This decision is to break out of the mould, challenge the norm, and join a group of people who live the life that falls SO FAR outside the dreams of the average person that it doesn’t even make it into their list of dreams.
I just finished reading Timothy Ferris’s book ‘The 4 hour work week’ and I’m inspired. It was challenging, confronting, and helped me see the future I want to create is VERY different to the future I thought I wanted.
It challenged and changed the way I see the world. Despite the fact that I like to think of myself as someone who does what he wants, when he wants to, I still have a LOT of very deeply ingrained assumptions that I just hold as ‘truth’ and these colour the way I see the world.
The one that was really exposed through the 4 hour work week was that we need to work.
The big assumption that was getting in the way of me creating (or even envisaging) the life I wanted was that there were two possible options to how you live your life:
1. Spend 50 hours a week doing a job you hate and than spend your 4 weeks vacation every year on some island retreat dreading the day you have to return. You repeat this yearly cycle until you hit 65 when you retire and spend your days sitting in a beach house wondering what to do with your time. But by that time, you’re so used to working that you end up filling it with work-like tasks because that’s all you know.
2. Spend 60 hours a week doing a job you love and then spend 1 week a year doing something else you love but also being excited about your return. Lather, rinse, repeat.
I knew I didn’t want option 1 so I went for option two. This was until The 4 Hour Work Week helped me see that there was a third option:
3. Set up automated income streams that mean you don’t need to work and you can spend your time doing what you love, when you want to do it, and never have to consider having to make money to fund your retirement because you have constant sources of passive income.
Go, on, guess. Which one sounds the goods to you? I know which one sounds like the kind of life I want.
I don’t want to spend the rest of my life doing things, just because I have to. I want to be able to wake up, work out what I want to do with my time, and then be able to do it without having to worry about where my next meal is going to come from.
I’m sure that doing what I want will often mean doing a lot of work, often for long periods of time, because I really enjoy it, but I don’t want to be in a position where I have to do something, just so that I can afford to eat. That’s the fastest way I know to suck all the passion and fun out of anything.
So, the plan as it stands right now, is to transform the way I live my life so that I can wake up and do what I’m inspired to do, when I’m inspired to do it, without ever HAVING to do anything (I’m sure there’s going to be occasions where there are things that need to be done to allow this lifestyle to continue but as long as it’s not a habit, I’m happy).
I want to wake up when I want, eat what I want, do what I want, when I want it, and be completely free.
This is very different to my current life.
At the moment, I wake up in the morning and the first thing I do is check my emails. Why? To see if there are any problems that have occurred over night that I need to deal with.
If there’s no fires to put out, I start checking stats to make sure that there’s enough people coming to the site to fuel the appallingly low conversion rates that my site is currently returning.
After spending an hour looking through those and checking the traffic that’s been clicking through, I then look at an internet marketing forum to try and snag a deal from so that I can try and drive more traffic through my appallingly low conversion rates without having to put any more real work into writing emails and deigning conversion funnels.
After wasting a good portion of my morning, I then start to panic.
“I’ve been sitting here for nearly 2 hours and achieved nothing. I’m no closer to my goal than when I sat down this morning. I better get something done before I have to get to my job.”
I then proceed to half arse it through several different tasks so that I feel like I’ve achieved something with my day before I go to my job in a place that represents everything that I hate about society, but pays well.
Lather, rinse, repeat.
There are a few changes that could be made to get me closer to my dream of working 1 day a week and spending the other 6 exploring the hidden gems of the world…
The number one change that needs to happen is conversion rates.
At the moment, the percentage of new visitors visiting the site who sign up for the free ebook is 2.5%. That’s appallingly low. It’s not uncommon for sites to convert at 10%. My goal is currently 5%. If I could hit 5%, the number of new subscribers to the mailing list every day would be average 30.
The current conversion rate from the free ebook to the paid ebook is 3%. This is appallingly low. It’s not uncommon for conversion rates around 15%. I’m aiming for 10%.
This would result in a conversion rate from visitor to purchaser of 0.5%. It’s still far below of achievable conversion 2% but it’s still enough to fund my lifestyle.
The current conversion rate from the paid book to the workshop is 25%.
If I can maintain this conversion rate, the monthly income of my company would be 22.5k
At this point in time, I have no idea if I can do this. I’ve never attempted something like this and I don’t know what barriers I’m going to come up against.
All I have is inspiration, passion, and dedication. I hope that’s going to be enough…
The situation as it stands on that plan:
- My current lease runs out in 12 days. The landlord has only offered a 6 month lease and the real estate agent is trying to negotiate a 12 month lease on our behalf.
- My girlfriend and I had already planned to go to Thailand next year but it was going to be for a 2 week vacation before returning to a normal lives.
- My current business is a time consuming monster. Every minutes that I’m not working on it, I’m thinking about it. I have a plan for transforming it into an automated submarine but it’s going to take time. I need to redo just about every part of the business because these areas were set up by my former business partner and don’t fit the ideology of the company. Even the ones that I created need to change to match the new understanding of the process of personal transformation now.