Interview with Tim Ferriss

I think that you have to find models that share things in common with you rather than trying to become someone you are not. I would say that’s a very important point. Also looking for a model, someone to emulate who has or had the personal life that you would also like to have. It’s a mistake to just emulate someone who has let’s say a hard charging bowl in the China shop approach if their personal life is in shambles and I think it’s important to look at all of that in context.

Oh waste of time; the biggest waste of time in business is just doing a thousand unimportant things well and email.

There’s a difference between how people build wealth and how they maintain wealth.

The short answer is there’s an article by Noah Kagen on my blog about muse testing, so business testing, very inexpensive ways for testing different business concepts and offers. I would focus on that. I would focus on the 80/20 analysis. Also doing an assessment of your strengths and weaknesses, current assets, current lists, current network, the resources that they have and picking markets you understand first and then choosing products that you can test using Noah’s approach.

Let’s just say you are able to test based on that analysis for the first week or two. Then it would be a function of finding what advertising probably in this case paid advertising has the lowest CPA or largest lifetime value. It’s just hard to determine in eight weeks and then pouring more capital into that. You can do that from cash flow. Secondarily you could focus, I’ve never really focused on this model but you can then focus on once you have the messaging that converts most effectively, you could focus on affiliate sales and there are ways that you could make that very profitable depending on how you format it.

I would say if I had 4 to 8 weeks, given what you are currently doing, since it is very personal, that’s the approach I would probably take but a lot of it would come down to ruthless 80/20 analysis, which is really the heart of The 4-Hour Workweek, The 4-Hour Body and The 4-Hour Chef.