I remember when the 4 hour work week came out, I was approached pretty hardcore by Tim Ferris to promote it. Now some people responded to his approach and hooked him up but I didn’t care for his over the top hustle and told him to buzz off (in so many words). But I was nice compared to Penelope’s experience with Tim Ferris in his hustle to promote the 4-hour work week.
Meh I digress….
So I was talking with the notorious keyboard gangsta Nickycakes a couple weeks ago and telling him how bad I suck as a CEO and really need to get my time management skills in order. Nick went on about the 4-hour work week book and how it totally changed his life and now he has time to take out all these girls in Vegas or something like that… He recommended that I pick up the book right away no matter what I thought personally about Tim Ferris.
Now anyone who knows me, knows I am not a reader and have never read a book in my life. So in true ShoeMoney style I pirated from the usenet picked up the 4-Hour work week from iTunes and gave it a listen.
Now there is a lot of fluff in the book but one key takeaway for me was a line about “Are you coming up with new ideas to prevent doing the hard work that needs to be done to finish ones you already started”. Damn that was deep and really hit home with me. I wrote it on a piece of paper and put it on my monitor.
My wife has a saying whenever I keep coming up with new ideas. That I need to Prioritize the Potentially Profitable Projects.
So are you looking to new things avoiding the hard work required to finish what you have already started?
About the author...
Jeremy Schoemaker – who has written 2415 posts on ShoeMoney.com.
Hi I am Jeremy Schoemaker and ShoeMoney.com is my blog. 99% of the post here are done by me but you will see others occasionally make guest posts. This blog is fun to write but for my day job I run several online companies.
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{ 83 comments… read them below or add one }
Interesting list of ideas – since you admit to having rains of ideas. How do you go about deciding on which ones to build on? I have a list of ideas but sometimes I find myself lost between the progress of each. Care to share how you prioritize your ideas?
I very happy to be able to read your article, and I feel fortunate, because by reading your article I got from a lot of knowledge you very good article, I am happy to read it, thanks a lot
Sounds like spam to me.
Never mind sounding like spam, it actually smells like spam! I am also happy to be reading it……heheheh
i’m agree with holly man.. Just wanna make interactive comment, but she/he didn’t really read the posted.. Who know ?
So True Mymoen and Jacques! I get sick of the fake comments! Why do it? There is a no-follow on the links anyway.
Tim ferris changed my life….
I read the book and missed that, must have been coming up with new ideas so I did not have to finish it.
Shoe we all know the ideas which comes in your mind are profitable as always ..lol
It was a good book and great for making sure you stayed focus on ONE thing but overall – wasn’t in my top 10.
Digging your wife’s saying though – pretty dope Shoe!
Nathan – I agree with what you are saying here, It is so damn important to focus on something which you are trying to achieve. But the fact is once you achieve it the value of it becomes little less for you. What you think ??
That’s the mind-set of an entrepreneur though – you conquer one project (or in my case – in the midst of half a dozen) only to not be satisfied once its complete. So, you move on to the next
“Are you coming up with new ideas to prevent doing the hard work that needs to be done to finish ones you already started”
Damn my answers is yes :S
Shoe, I’m there with you, I’m a developer and I’ve got a notebook of ideas. It’s fun to come up with new ideas and think of the possibilities, especially when you have a little bit of a technology background. I need to find a way to mange them all and properly manage progress through out each (or at least a handful).
Did this book help you in anyway with that?
Coming up with new ideas is what serial entrepreneurs like us do all the time. It’s just how our minds work and it’s a big part of what makes us so successfull.
The key for me was not trying to act on each one right away but rather logging them in a master idea book I have and then getting back to whatever project I was currently working on. One a week I then go over the idea book and see what if any should take priority or be added to my list of things to work on the following week. It’s worked well for me.
I agree with your views totally buddy.
I like your approach Wayne. Thanks for sharing this. I am going to create an idea notebook as well.
That is a great idea Wayne. I never thought about making an idea notebook. I always try to act on my ideas. Will have to start my idea notebook right now.
I always maintain my ideas and my work report as well.
I keep my daily work details … at the end of the day I want to see my time investment and value of such investment as well.
This technique of maintaining new business ideas is the best. I too have a similar way of doing it and what I do is, I find time every week to do a little bit of research on any two of my ideas – a bit of SWOT analysis, viability and research to see if it is worth investing in. If it is good I mark it in Green, else I mark it in Red. If it requires further research I will mark it in Orange so that I can spend time on it later and this pushes this idea down my priority list.
As counter-intuitive as it sounds, strive to make yourself irrelevant in your business.
The more that can be done in your absence, the more free time you will have.
No, you don’t make yourself irrelevant – you make your business and staff self-sufficient.
IMO this is where many marketers (and other entrepreneurs) fail.. if you don’t manage your time correctly – it can be disastrous. I’m gonna consider checking that out now
That’s it !! I am exposed to this book by many people online , I have given a thought of reading it .Today as I decide that I should go and read it this article just hit me … yes i should ….
Thanks a lot for this timely post of your in my life .
Thanks a lot
Hmm. I must’ve missed that in the book. That’s a good point though. I liked the book overall, but could’ve done without all the bragging he did. He’s a guy that loves talking about how he was traveling in Dubai riding elephants with the locals.
I order the audio book from Amazon and listened on the way to the office for a week. He stuff is alright if you already have something in place that makes huge money. But who’s in that position?
I like your honesty Jeremy. Thanks for sharing that one key point about ideas, prioritizing and profitability. We all get distracted from time to time – some, more often than others. It can be tough to stay so focused.
Whenever I used to have business ideas to discuss with my entrepreneur brother, he would say “It’s not profitable, move on” or he would say that it was and we would move forward with it. It was always one or the other.
Holly it is some where said Honesty is Best Policy. As far as ideas are concerned Shoe is IDEA FACTORY ..lol
The Idea which comes in his mind from that very moment it starts making money on internet…what more i shall say that i am following him from the time he has started the blog and till now he is one of my Super Mentor.
Ideas are the roots of creation. Let’s take note our ideas for easy storing and retrieving.
I must say our eyes should be on the prize but our heart should be on the satisfaction of everybody
I’m guilty of thinking of new ideas to avoid the hard ones. I didn’t think so until reading that.
So beyond that enlightening line, is the book still worth a read or listen?
hanji
Totally, I started listening to it this morning and I like it so far. The ideas presented are inspiring and a good motivational boost.
Shoe, great book suggestion, I also got the audiobook version after reading your article and have been really impressed with it so far. Additionally the Nickycakes site has some great info.
For a long time I had this lingering idea of making a website where people who live even in remote areas like Nebraska can buy yummi Israeli food products without having to travel to the HolyLand. It would take a lot of mundane work to do but the more intense my munchies became the more motivated I became, till finally Yisraeli.com went online and I was able to get my favourite coffee and snacks delivered to my door. No I, including my palate, are delighted that I did not put that off any longer.
But I will need a diet.
I don’t know about the rest of you, but my mind never stops thinking about new ways to make money or how can I make “XYZ” profitable? I don’t think I do it to avoid the daunting task of working on the other big projects. I just literally can’t shut my head off. I’m always looking for an angle that no one has thought of before and trying to find a way to capitalize on that. I do my share of moving from one project to another, but probably not intentionally to avoid the big jobs.
So what is your best idea so far. Idea which gave you recognition, money and motivation as well …
Tell us …
First rule of usenet, don’t talk about usenet.
Second rule of Usenet, You DO NOT talk about USENET
good post.. prolly one of my own personal weak points is staying focused and not just coming up with new ideas to pursue.. ideas are easy to start and come up with but execution and trouble shooting is what separates the real winners from the losers..
Just wanted to say I like your made up word – PROLLY
too cute
For this kind of problem I always start with few ideas under my sleeve. So that I wont face any problem in the mid.
If you will start and get a rhythm than you will get new ideas in the mid way.
I just watched Tim Ferris’s 50 minute presentation on how to make a successful blog. He seemed pretty intense, but it made for an interesting presentation as much as it was helpful.
I can relate to that line as well. As I write this I am putting of a presentation I need to finish that is starting to get tough.
I think what makes a successful person is the will to get through the tough work and finish the product. However, a really successful person will know which project requires the hard work, because it will be successful, and which projects don’t.
I think you have seemed to get that point down. Even though you have had many failures you have still put a lot of tough time into building a very successful site.
Jeramey,
I agree with your wife. You definitely have to prioritize. It can be overwhelming when you have to many irons in the fire!
I enjoyed the article, keep up the good work!
Some time your interest and priority also clashed. Like I reading Jeremy blog and if I have priority work than I would love to read blog first … and after that I can concentrate on other work.
So your interest and your priority clashes and its too often (at least for me)
The 4 Hour Work Week is loaded with a lot of fluff. However, there is also some great bits of wisdom in this book. For me, the idea of going on a “Low Information Diet” has really been life-changing. Since I took Tim’s advice and went on a Low Info Diet, my productivity has sky-rocketed.
The Low Info Diet keeps you focused and it keeps your brain from being scrambled by constant email. I highly recommend the book and the “Diet.”
Agreed. I also took away some useful tips from his book – example: set certain days to answer emails. Don’t be consumed with the emails – which has happened to me time and time again. It’s hard to find a balance. Good advice.
Most of the books on any such topic is full of things that are general information and available in all such books. Some of them is pure fluff. But it is that single chapter or, a sentence or, just a quote that makes the book worth reading. It is also possible that you might not even understand it in one reading and hence you will have to read it multiple times. But if any such book is able to give me one such single sentence, I think my investment is worth it.
Nice post, thanks for that. I haven’t read the book but sounds like I need to (or listen to it) I also have a problem with starting up new ventures and sites when I get good ideas then find it hard to finish many of them.
So you and Cakes are ebst buds now?
Having the time and patience to follow through when it goes from fun to crunch is something only the successful fully understand.
Which means you need to do a little more than attach it to your monitor. Its a way of life.
Without it, (no matter who spins it), you’re on borrowed time.
You’re right Gumbosan! So right!
You have clear vierw about this. Seems to me that you wont have any problem in tackling these kind of situation or your experience taught you this.
When idea comes, we better write down so it not lose.
Or use some recording device as you wont find pen and note book every time. So carry a recorder … record it and at the end of the day listen them.
You will have to invest at least 1.30 Hrs everyday to fix things up so that you can work smoothly.
i think you should give priorities to things…nice article, keep blogging!
I love this quote from Derek Sivers about ideas:It’s so funny when I hear people being so protective of ideas. (People who want me to sign an nda to tell me the simplest idea.)
To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.
Explanation:
Awful idea = -1
Weak idea = 1
So-so idea = 5
Good idea = 10
Great idea = 15
Brilliant idea = 20
No execution = $1
Weak execution = $1000
So-so execution = $10,000
Good execution = $100,000
Great execution = $1,000,000
Brilliant execution = $10,000,000
To make a business, you need to multiply the two.
The most brilliant idea, with no execution, is worth $20. The most brilliant idea takes great execution to be worth $20,000,000.
That’s why I don’t want to hear people’s ideas. I’m not interested until I see their execution.
You have described it very beautifully. I must say that you give the perfect finish to Shoe article.
Domain Superstar have framed in Super way…Liked it Dude
Amazing interpretation. Your explanation is a blunt way of making somebody understand that execution is the key.
That’s exactly right. I see it all the time. People come to me with great ideas, but they can’t sustain the motivation to get them done.
To complete in such manner people should have inner fire and such fire should always force them to do better in their field.
Just read about Neil and you will be able to know … he was determined to reach at this level and certainly he have still inner fire
That one line sums up alot of things. Time to get cracking with old ideas first, rest later.
The key part of the book you mentioned is more or less me. I regularly make up things to distract me from working.
It seems I am not alone. I too have that syndrome of finding reason to distract me from working. After scratching my head for almost 2 days, I sit there at my desk and evaluate what I did in the past 3 days and find that it was nothing more than a huge zero.
Just manage one week details of your work. Write down everything which you done at the end of every day.
Also write down those things which distract you. At the end of week study them and I am sure in next week you will improve yourself a lot.
great idea.. give me more idea to create the funtastic thing. Thanks for share.. Keep blogging.
Hi, Shoemoney (I hope to meet you soon and buy you a beer, your advice has made me money). Are you going to any European events anytime soon?
I just started working from home and it’s not easy managing your self, specially when you come from a “IT support i dont give f*** job”.
Will check out this book as well, as I said, I respect you and belive you know what you are talking about
Btw, I got this great domain I would like to put to good use, let me know if you want to work together on blog-money.com.
I’m guilty of that too. Too many ideas and not enough time to get it all done. If you don’t have something that helps you to get projects done and stay focused then you are doomed.
One good tip I learned is to write every idea down immediately and then go over everything some time later. Important is to get it out of your mind so you can stay focused.
Gunter
You mentioned prioritizing the projects that will bring in the most money… thanks (to your wife maybe) for the gentle nudge! This is something I definitely need to work on.
Such ideas and suggestions can only come from wifes. My wife is a major contributor in terms of such ideas. When I am down and out she comes up with something of this sort and I know what I should be doing.
good article and i like your article
Hey Jeremy,
It is surprising how often does our wife contribute to our entrepreneurial ideas. Quotes like that of your wife is something that I expect from my wife and I often strike conversations pertaining to my business with my wife. It is then the she shoots one such valuable quote worth pondering.
Overall a very informative post and some excellent and valuable comments from some readers as well.
Whenever you stuck talk with your wife and make her understand on her term. Believe me she will give you perfect ideas.
Women are manager by birth.
We can learn a lot from the far East, countries such as Japan etc have long developed methods for regulating and maximising time, they were and still are ahead of the game.
Check out concepts such as Kan Ban, where there is a focus on real deliverable and measurable features.
Only work on something that can and will go live on your site and remember that until it does go live, it has no value. There are many visual systems to track and monitor goals, we can learn much from queue theory – being efficient is all about flow and getting things done. Then prioritise the things that can be delivered in the time available and have maximum value. Break down tasks into the minimum deliverable.
You don’t need a book to learn this, just get googling! Or heck, work it out for yourself, it’s not rocket science
yes tops business online i like this article good and nice this article thanks
Personally, I have trouble moving on to something if another task isn’t completed yet. This can be really problematic if the task you need to do is more important than the one less important that you feel the need to complete first. If that makes sense… :p
Thanks for such a detailed and comprehensive explanation.
It’s absolutely CRUCIAL that you know what your goals are at all times. How fun would it be to work at something that you don’t love and that isn’t going to get you to anyplace that you love??Think about working with something you love and something that will get you to what you love. Remember, long-term goals are always the more important ones. Dream BIG!!
If I want advice on coping with male pattern baldness, I’ll look up Tim Ferris. From all appearances, he’s an expert.
That is interested idea, You must give priorities to do things. and if you get idea you must record it
Great tips and advice Jeremy, I stumbled on this page today, thanks for sharing the info.
hello!,I like yourwritting so much! share we meet more about your weblog on Yahoo? Looking forward to see you.
I get some idea here, the content is creative.
I am sure he have copied this one and posted on other blogs as well.
Its get approved as well.