In 2002, Tim Ferriss earned a very healthy
living, pulling in more than $40,000 a month through his sports nutrition
company. But the business consumed 70 to 80 hours of his time a week -
and even more of his emotional energy. He soon suffered "an existential
meltdown," as he describes it now. "I telescoped out 10 to 15 years, and it
was a very, very depressing picture. There would never be enough hours in the
day."
His solution: Stop sweating the small
stuff. First, Ferriss outsourced nearly all key functions of his company, such
as shipping and customer service. Not long after that, he sent a crucial e-mail
to those new business contacts. If a problem could be fixed for less than $100,
then take care of it, he wrote, typing the following words in bold: "without
contacting me."
In the years since then, his profits have more than tripled. Equally as important,
at least to Ferriss, is that his business now requres only a few hours each week,
leaving the rest open for travel and for his other interests, including writing.
(His first book, not surprisingly, is called The 4-hour Workweek: Escape 9-5,
Live Anywhere, and Join the New Rich. While the entrepeneur's work schedule
can seem stranger than fiction, Ferriss' story highlights an all-too-common
business blind spot. Contact for complete article.