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The 4-hour Workweek and Chasing Money

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Petros

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Mar 26, 2019
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After my junior year of college, I spent the summer in Columbus, IN. I had landed an engineering internship with Cummins Inc and had the opportunity to work in the corporate headquarters building. It was definitely the nicest building to work in in the company. It had a great energy to it and at the time I thought it was cool to be in the same buildings as all the corporate bigwigs. This made we want to explore business and see how it fit with engineering and technology.

Several months later I was back at school. Fortunately, senior year was lighter schedule wise, so I had some more free time. I decided to buy some business-related books and learn on my own. I literally just googled “Best Business Books” and clicked on some random top 10 list. I bought three of the books that stuck out to me:
  1. The 4-hour Workweek
  2. The $100 Start-up
  3. Rework
During my senior year of college, I spent spring break at my aunt and uncle’s house in Delray Beach, FL. It was an awesome week of resting and recharging for the final push of my college career. It was during this time that I opened and read The 4-hour Workweek.

Now I know many people have a strong opinion on The 4-hour Workweek. Some people like it, others think it sucks. For me, it was the first book I read that opened my mind to the possibilities of entrepreneurship. Up until this point, I never thought someone like me could start a real business and make money. After reading it, I knew that I needed to start some kind of business by the end of the year.

Ever since then, I’ve tried to make money on my own outside of my engineering job. Some of these ideas have made money, and others have not.

Businesses that made/make money:
  1. Online Computer Rentals Business: Started because I wanted to learn business and fill a niche market need.
  2. Flipping Classic Cars: Started because my Dad (who loves working on cars) saw an opportunity to add value while doing something he loved.
  3. Rental Properties: Started because there were lots of advantages financially, and people need places to live.
  4. FBA Online Arbitrage: Started because I saw a system that I could build/streamline. I could sell products that I knew people actually wanted to buy.
Businesses that did not make money:
  1. Flipping Laptops on Craigslist: Started because I wanted to make money and outsource all the work.
  2. SEO: Started because I saw a rich youtuber with a Lamborghini who sold SEO products and I wanted to make money like he did.
  3. AdSense Websites: Saw an ad for “passive AdSense income websites”. All I had to do was buy the domains, pay the company to build the sites, and the money would flow in every month. SCAM.
  4. Amazon Affiliate Websites: Saw an ad for “passive Amazon Affiliate income websites”. All I had to do was buy the domains, pay the company to build the sites, and the money would flow in every month. SCAM.
After reading The Millionaire Fastlane, the reason behind the successes and failures was clear. And if you've read this far you probably see the trend.

When I chased needs, I made money.
When I chased money, I made nothing.


It’s not that you can’t make money doing the things I failed at, but now I realize that MY MIND was in the wrong place. I was being selfish and only cared about getting money, not solving a problem.

TL/DR:
Don’t look for books/resources to be perfect. Read them, figure out what works and discard the rest. Sometimes a book can change your mindset and that in itself is worth it.


Chase needs, not money.
 

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MJ DeMarco

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Not even needs, but value skew as described in Unscripted.
 

River McTasney

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I’m definitely with this guy on the mindset influence some of these “chase the money” books create. I owe a lot of my successes and positive points in my life to the inspiration books like Rich Dad Poor Dad, 4-Hour Work Week, and others like them have provided me. Now MJ’s books have definitely cleared the muddy water. Actually, his books have made me notice the mud in the water. Either way I didn’t start with MJ’s books. They came to me at the right time. Sometimes you need somebody that’s somewhat full of sh!t but extremely inspirational and motivational to get you to take the first step on your thousand mile journey. You must first believe the water is deep enough before you dive off the high dive. I think these books are very good at influencing that belief. I also believe a step-by-step gives a lot of people something to start with and helps avoid analysis paralysis. We humans don’t create anything, we take and modify.

Although, now that I have read MJ’s books I recommend TMF and Unscripted first. He does a great job of being straight forward and inspiring belief at the same time.

Like my mom says, “listen to what they have to say, take what you can learn from it and do away with the rest.”

I still have much to learn so I understand I could be wrong on this point.

Sweet post, thanks. Good break in between the 300 acre pasture Easter egg hunt. So much for just coming home to relax.
 

MHP368

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Thinh

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Chase needs, not money
Here's what I suggest: don't chase anything.
Why would you even "chase needs"? I think it's a very vicious way of deceiving oneself.

If you think "I'm not chasing money, but needs, so I must be doing fine", then why in the first place are you chasing needs? Isn't it justly to make money in the end? Is it really anything else than simply hiding the truth by changing a word?

The way I think about it, when @MJ DeMarco says "not even needs, but value skews", it's a lot more useful.
A value skew is identifying already existing ideas / businesses who don't provide the best solution to an existing and clearly defined need.
So instead if "chasing" anything, you're really seeking to making things better.

Innovation is usually improvement rather than pure creation.
 
OP
OP
Petros

Petros

Contributor
Mar 26, 2019
17
98
24
Cincinnati OH
Here's what I suggest: don't chase anything.
Why would you even "chase needs"? I think it's a very vicious way of deceiving oneself.

If you think "I'm not chasing money, but needs, so I must be doing fine", then why in the first place are you chasing needs? Isn't it justly to make money in the end? Is it really anything else than simply hiding the truth by changing a word?

The way I think about it, when @MJ DeMarco says "not even needs, but value skews", it's a lot more useful.
A value skew is identifying already existing ideas / businesses who don't provide the best solution to an existing and clearly defined need.
So instead if "chasing" anything, you're really seeking to making things better.

Innovation is usually improvement rather than pure creation.
I think you're right here. Probably a better way to think about it.
 

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