Retire at 30? Getting $$$ while on vacation? The Four-Hour Phenomenon Series – Part 3 of 5

[Editor’s Note: This is Part 3 of The Four-Hour Phenomenon Series. If you missed the earlier parts, here’s Part 1 & Part 2]

So by now with the guidance from Tim Ferriss and his masterpiece (The Four Hour Workweek), we have reached the stage after goal setting, removing the hindrances you identified and mastering your strengths. Also, the book talks about using the most efficient methods to carrying out or dealing with any issue especially with what business sector, what business model and business plan you decide on. Essentially, this puts you half way on the entrepreneurial scale. Again for in depth details on all of the above things we talked about are available in the book and his blog page (www.fourhourworkweek.com/blog/).

Disclaimer: We do not get any monetary proceeds from his book being sold, I am just genuinely awestruck by his philosophy (and more importantly practical knowledge) and would like the rest of us to know that it is possible for us too. Now we proceed to the last two steps in the Entrepreneurial machine- Automation and Liberation.

Automation- Tim’s definition for automation is that once you master something and have your business running, the time has come to streamline it and make your business work for you rather than the other way around. But, one thing needs to be clearly stated- by “work” we mean the goal/business you start-up. And, like any top entrepreneur would say, they would do this work for free if they had to because they enjoyed what they were doing from the get go.

What automation does is that it gives you free time for bigger things, newer ventures. This is where you get your work hours further reduced. Any process you set up once profiled with clear steps that can be replicated will now become automated. Anyone who has a laptop knows how to do e-commerce, spreadsheets and other necessities. Assigning interns who are enthusiastic to carry on the mantle is the ideal next step and let me tell you in all transparency, inc42 runs on that smart business model. So we/Tim are doing what we/Tim are preaching. Adding interns who are enthusiastic and into what they are doing are better than employees who put themselves (and their qualifications first). The flexible conditions and awesome off-site working environment is refreshing in the modern day office setup!

Liberation- Tim states that one amazing result of running an automated business is the liberation that comes after, not just for new ventures but just to lay back and watch your business grow. This also gives you a fresh perspective viewing it from the outside rather than being at the centre of it all. How many times have we come back to a problem after a good break and find the solution easily that time (any Sudoku lovers?). This helps you take care of your health, fitness (more on this in part 4 and 5) and also gives you a social life (and this means real life social interactions, i.e. not limited to facebook and twitter).

Tim brings about the idea of having setup mini-retirements to stop himself from burning out. Of course he mentions there will be initial phobias to liberation (worrying about your business, checking your email constantly, etc.). But time and regular use of the liberation methods he suggests turns out to save you time and more importantly your health and vigour for continuing on the arduous entrepreneurial journey. Bane says it all about this book- It is quite simply the instrument of your liberation. More in part 4 and 5. Adios Ferrissians.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.