The 4-Hour Workweek (36 page)

Here are some of the things I learned and loved in 2008.

Favorite reads of 2008: Zorba the Greek and Seneca: Letters from a Stoic. These are two of the most readable books of practical philosophies I’ve ever had the fortune to encounter. If you have to choose one, get Zorba, but Lucius Seneca will take you further. Both are fast reads of 2–3 evenings.

Don’t accept large or costly favors from strangers. This karmic debt will come back to haunt you. If you can’t pass it up, immediately return to karmic neutrality with a gift of your choosing. Repay it before they set the terms for you. Exceptions: über-successful mentors who are making introductions and not laboring on your behalf.

You don’t have to recoup losses the same way you lose them. I own a home in San Jose but moved almost 12 months ago. It’s been empty since, and I’m paying a large mortgage each month. The best part? I don’t care. But this wasn’t always the case. For many months, I felt demoralized as others pressured me to rent it, emphasizing how I was just flushing money away otherwise. Then I realized: You don’t have to make money back the same way you lose it. If you lose $1,000 at the blackjack table, should you try and recoup it there? Of course not. I don’t want to deal with renters, even with a property management company. The solution: Leave the house alone, use it on occasion, and just create incoming revenue elsewhere that would cover the cost of the mortgage through consulting, publishing, etc.

One of the most universal causes of self-doubt and depression: trying to impress people you don’t like. Stressing to impress is fine, but do it for the right people—those you want to emulate.

Slow meals = life. From Daniel Gilbert of Harvard to Martin Seligman of Princeton, the “happiness” (self-reported well-being) researchers seem to agree on one thing: Mealtime with friends and loved ones is a direct predictor of well-being. Have at least one 2-to-3-hour dinner and/or drinks per week—yes, 2–3 hours—with those who make you smile and feel good. I find the afterglow effect to be greatest and longest with groups of five or more. Two times that are conducive to this: Thursday dinners or after-dinner drinks and Sunday brunches.

Adversity doesn’t build character; it reveals it.

Related: Money doesn’t change you; it reveals who you are when you no longer have to be nice.

It doesn’t matter how many people don’t get it. What matters is how many people do. If you have a strong informed opinion, don’t keep it to yourself. Try to help people and make the world a better place. If you strive to do anything remotely interesting, just expect a small percentage of the population to always find a way to take it personally. F*ck ’em. There are no statues erected to critics.

Related: You’re never as bad as they say you are. My agent used to send me every blog or media hit for The 4-Hour Workweek. Eight weeks after publication, I asked him to only forward me positive mentions in major media or factual inaccuracies I needed to respond to. An important correlate: You’re never as good as they say you are, either. It’s not helpful to get a big head or get depressed. The former makes you careless and the latter makes you lethargic. I wanted to have untainted optimism but remain hungry. Speaking of hungry …

Eat a high-protein breakfast within 30 minutes of waking and go for a 10-to-20-minute walk outside afterward, ideally bouncing a handball or tennis ball. This one habit is better than a handful of Prozac in the morning. (Suggested reading: The 3-Minute Slow-Carb Breakfast, How to “Peel” Hardboiled Eggs Without Peeling on www.fourhourblog.com.) I dislike losing money about 50x more than I like making it. Why 50X? Logging time as an experiment, I concluded that I often spend at least 50 x more time to prevent a hypothetical unit of $100 from being lost vs. earned. The hysterical part is that, even after becoming aware of this bias, it’s hard to prevent the latter response. Therefore, I manipulate the environmental causes of poor responses instead of depending on error-prone self-discipline.

I should not invest in public stocks where I cannot influence outcomes. Once realizing that almost no one can predict risk tolerance and response to losses, I moved all of my investments into fixed-income and cashlike instruments in July 2008 for this reason, setting aside 10% of pretax income for angel investments where I can contribute significant UI/design, PR, and corporate partnership help. (Suggested reading: Rethinking Investing—Part 1, Rethinking Investing—Part 2 on www.fourhourblog.com.)

A good question to revisit whenever overwhelmed: Are you having a breakdown or a breakthrough?

Rehearse poverty regularly—restrict even moderate expenses for 1–2 weeks and give away 20%+ of minimally used clothing—so you can think big and take “risks” without fear (Seneca).

A mindset of scarcity (which breeds jealousy and unethical behavior) is due to a disdain for those things easily obtained (Seneca).

A small cup of black Kenyan AA coffee with cinnamon on top, no milk or sweeteners.

It’s usually better to keep old resolutions than to make new ones.

To bring in a wonderful 2009, I’d like to quote an e-mail I received from a mentor of more than a decade:

While many are wringing their hands, I recall the 1970s when we were suffering from an oil shock causing long lines at gas stations, rationing, and 55 MPH speed limits on federal highways, a recession, very little venture capital ($50 million per year into VC firms), and what President Jimmy Carter (wearing a sweater while addressing the nation on TV because he had turned down the heat in the White House) called a “malaise.” It was during those times that two kids without any real college education, Bill Gates and Steve Jobs, started companies that did pretty well. Opportunities abound in bad times as well as good times. In fact, the opportunities are often greater when the conventional wisdom is that everything is going into the toilet.

Well… we’re nearing the end of another great year, and despite what we read about the outlook for 2009, we can look forward to a New Year filled with opportunities as well as stimulating challenges.

Happy New Year, everyone.

How to Travel the World with 10 Pounds or Less

Hauling a five-piece Samsonite set around the planet is hell on earth. I watched a friend do this up and down dozens of subway and hotel staircases in Europe for three weeks, and—while I laughed a lot, especially when he resorted to just dragging or throwing his bags down stairs—I’d like to save you the breakdown. Trip enjoyment is inversely proportionate to the amount of crap (read: distractions) you bring with you.

Practice in 30-plus countries has taught me that minimalist packing can be an art.

I returned from Costa Rica last Wednesday and have since landed in Maui, where I’ll stay for one week. What did I pack and why? (See the companion video at www.fourhourblog.com.86)

I practice what I’ll label the BIT method of travel: Buy It There.

If you pack for every possible contingency—better bring the hiking books in case we go hiking, better bring an umbrella in case it rains, better bring dress shoes and slacks in case we go to a nice restaurant, etc.—carrying a mule-worthy load is inevitable. I’ve learned to instead allocate $50–200 per trip to a “settling fund,” which I use to buy needed items once they’re 100% needed. This includes cumbersome and hassle items like umbrellas and bottles of sunscreen that love to explode. Also, never buy if you can borrow. If you’re going on a bird-watching trip in Costa Rica, you don’t need to bring binoculars—someone else will have them.

Here’s the Maui list.

1 featherweight Marmot Ion jacket (3 oz.!)

1 breathable Coolibar long-sleeve shirt to prevent sunburn. This saved me in Panama.

1 pair of polyester pants. Polyester is light, wrinkle-resistant, and dries quickly. Disco dancers and flashpackers dig it.

1 Kensington laptop lock, also used to secure all bags to stationary objects

1 single Under Armour sock, used to store sunglasses

2 nylon tanktops

1 large MSR quick-dry microfiber towel, absorbs up to seven times its weight in water

1 Ziploc bag containing toothbrush, travel toothpaste, and disposable razor

1 Fly Clear biometric travel card (www.flyclear.com),87 which cuts down my airport wait time about 95%

2 pairs of ExOfficio lightweight underwear. Their tagline is “17 countries. 6 weeks. And one pair of underwear.” I think I’ll opt for two, considering they weigh about as much as a handful of Kleenex. One other nice side effect of their weight: They’re much more comfortable than normal cotton underwear.

2 pairs of shorts/swimsuits

2 books: Lonely Planet Hawaii and The Entrepreneurial Imperative. (The latter comes highly recommended. Check it out.)

1 sleeping mask and earplugs

1 pair of Reef sandals. Best to get a pair with removable straps that go around the heel.

1 Canon PowerShot SD300 digital camera with extra 2GB SD memory card. God, I love this camera more than words can describe. It is the best designed piece of electronics I have ever owned. I now use it not only for all of my photos and videos, but also as a replacement for my scanner. I’m considering testing the newer and cheaper SD1000.

1 coffee-harvesting hat to prevent my pale skin from burning off

1 Kiva keychain expandable duffel bag

1 Chapstick, 1 Mag-Lite Solitaire flashlight, and 1 roll of athletic tape. The last is a lifesaver. It’s as useful as duct tape for repairing objects but gentle enough to use on injuries, which I am fond of inflicting on myself.

1 Lewis and Clark flex lock (for luggage, lockers, zippers, or whatever I need to lock down/shut together). Standard mini-padlocks are often too cumbersome to thread through holes on lockers, etc.

1 Radio Shack kitchen timer, which I’ve been using to wake up for about four years. The problem with using a cell phone alarm to wake up is simple: The phone often needs to be on, and even if you use vibrate, people can call and wake you up before you want to wake up. The second benefit to using a kitchen timer is that you know exactly how much sleep you are—or aren’t—getting, and you can experiment with things like caffeine power naps of different durations … but that’s another post;)

—JULY 11, 2007

The Choice-Minimal Lifestyle: 6 Formulas for More Output and Less Overwhelm

I was stressed out… over dog cartoons.

It was 9:47 P.M. at Barnes and Noble on a recent Saturday night, and I had 13 minutes to find a suitable exchange for The New Yorker Dog Cartoons, $22 of expensive paper. Bestsellers? Staff recommends? New arrivals or classics? I’d already been there 30 minutes.

Beginning to feel overwhelmed with a ridiculous errand I’d expected to take five minutes, I stumbled across the psychology section. One tome jumped out at me as all too appropriate—The Paradox of Choice: Why More Is Less. It wasn’t the first time I’d seen or read Barry Schwartz’s 2004 classic, but it seemed like a good time to revisit the principles, among them, that:

The more options you consider, the more buyer’s regret you’ll have.

The more options you encounter, the less fulfilling your ultimate outcome will be.

This raises a difficult question: Is it better to have the best outcome but be less satisfied, or have an acceptable outcome and be satisfied?

For example, would you rather deliberate for months and get the 1 of 20 houses that’s the best investment but second-guess yourself until you sell it five years later, or would you rather get a house that is 80% of the investment potential of the former (still to be sold at a profit) but never second-guess it?

Tough call.

Schwartz also recommends making nonreturnable purchases. I decided to keep the stupid pooch cartoons. Why? Because it’s not just about being satisfied, it’s about being practical.

Income is renewable, but some other resources—like attention—are not. I’ve talked before about attention as a currency and how it determines the value of time.

For example: Is your weekend really free if you find a crisis in the inbox Saturday morning that you can’t address until Monday morning?

Even if the inbox scan lasts 30 seconds, the preoccupation and forward projection for the subsequent 48 hours effectively deletes that experience from your life. You had time but you didn’t have attention, so the time had no practical value.

The choice-minimal lifestyle becomes an attractive tool when we consider two truths.

Considering options costs attention that then can’t be spent on action or present-state awareness.

Attention is necessary for not only productivity but appreciation.

Therefore:

Too many choices = less or no productivity

Too many choices = less or no appreciation

Too many choices = sense of overwhelm

What to do? There are six basic rules or formulas that can be used:

1. Set rules for yourself so you can automate as much decision making as possible [see the rules I use to outsource my e-mail to Canada, included at the end of this section, as an example of this].

2. Don’t provoke deliberation before you can take action.

One simple example: Don’t scan the inbox on Friday evening or over the weekend if you might encounter work problems that can’t be addressed until Monday.

3. Don’t postpone decisions just to avoid uncomfortable conversations.

If an acquaintance asks you if you want to come to their house for dinner next week, and you know you won’t, don’t say, “I’m not sure. I’ll let you know next week.” Instead, use something soft but conclusive like, “Next week? I’m pretty sure I have another commitment on Thursday, but thank you for the invite. Just so I don’t leave you hanging, let’s assume I can’t make it, but can I let you know if that changes?” Decision made. Move on.

4. Learn to make nonfatal or reversible decisions as quickly as possible.

Set time limits (I won’t consider options for more than 20 minutes), option limits (I’ll consider no more than three options), or finance thresholds (Example: If it costs less than $100 [or the potential damage is less than $100], I’ll let a virtual assistant make the judgment call).