Author: Timothy Ferris
My recommendation: 5/5
Summary
Insightful book that deconstructs how world-class performers across different industries and professions are able to achieve success. I skipped around this book and read the chapters that seemed most interesting to me.
My Takeaways
- Raise prices. (Marc Andressen)
- Stress test ideas with a red team. Bash the sh*t out of an idea and if you still believe it, then commit to that idea. (Marc Andressen)
- “Be so good, they can’t ignore you.” (Marc Andressen)
- Wear something unique so people remember you. (Chris Sacca)
- Try to trade the short term gain for the long term upside. (Arnold Schwarzenegger)
- It’s often the tiny detailed things that grow your business rather than the large things. (i.e. Derek Sivers’ funny CDbaby email.)
- Give lots of damns. (i.e. Alexis Ohanian’s example of making the copy on Reddit’s error page funny.)
- Being busy is a form of laziness and often used as a guise for avoiding the few critical important but uncomfortable actions. (Tim Ferris)
- On commonalities of famous investors interviewed by Tony Robbins:
- Always cap the downside.
- Find investing opportunities that have asymmetric risk and reward.
- Daily vlogging leads to massive growth. (Casey Neistat)
- “Tell me something that’s true that few people agree with you on.“ (Peter Theil)
- First Ten Principal:. Tell ten people, show ten people and share with ten people who already trust and like you. (Seth Godin)
- Generate a list of 10 bad ideas as a daily exercise to refine the creativity muscle. (James Altucher)
- If you can’t be first in a category, set up a new category you can be first in when launching products.
- Think categories, not brands when marketing a product or service.
- Everyone wants what’s new, not better.
- When you’re first in a new category, promote the category. In essence you have no competition. Tim applied this concept by coining the term “Lifestyle Design” in his book ‘The 4 Hour Workweek’.
- Don’t be afraid to do something you’re not qualified to do.
- Rainy Sethi sends simple text emails to make a more personal connection.
- Focus on acquiring 1,000 true fans (super fans) who will pay you directly for anything and everything you sell. 1,000 true fans are your direct source of income and chief marketing force for ordinary fans.
- Take “the coffee challenge” by asking for 10% off your cup of coffee at a coffee shop. This gets you in the habit of asking for what you want in life.
- Have a backup plan. (Jocko Willink)