I have a new bible. The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss is the best book I’ve read in recent memory. It combines concepts I’ve heard from lots of different friends into one big picture.
I’d already begun piecing together a lot of what I want from my job. Time freedom, location flexibility, passive income. I knew it would have to be a product based business with dropshipped products and it would have to be internet based. I’ve started learning about writing copy, Google AdWords, and product launches. But Ferriss goes into excruciating detail about every step of the process.
From finding a market niche, to coming up with a product, to testing interest, setting up a website, driving traffic to it, and then automating the entire process so you can take yourself out of the loop entirely, Ferriss gives examples, details, references, and lists the websites you need to get the ball rolling. I’m excited – this is exactly what I’m looking for.
First piece of advice: don’t make the mistake of creating a product and then looking for a market. Find an market and then create a product. So tomorrow morning, I’m going to Barnes and Noble to browse the magazine isle to find my niche market. I’ll be looking for a magazine with a small target audience with a full-page ad rate around $5000 and at least 15,000 subscribers. By Ferriss’ timetable I’ll be testing product ideas by this time next week.
Full speed ahead!
