The 4-Hour Workweek, Expanded and Updated: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss

Author:Timothy Ferriss [Ferriss, Timothy]
Language: eng
Format: epub, mobi, azw3, pdf
Tags: Personal Growth - General, Business Life - Inspirational, Non-fiction, Business & Economics, Philosophy, Careers - General, General, Self-realization, book, Job Opportunities, Quality of work life, Self-Help, Personal Growth, management, Self-actualization (Psychology), Part-time self-employment, Workplace Culture, wishlist, Careers, Quality of life
ISBN: 9780307465351
Publisher: W. W. Norton & Company
Published: 2010-01-18T08:00:00+00:00

4. Rollout and Automation

Following this testing, and

upon generating sufficient cash

flow,

Doug

began

experimenting

with

print

advertising in trade magazines.

Simultaneously, he streamlined

and outsourced operations to

reduce his time requirements

from two hours per day to two

hours per week.

COMFORT

CHALLENGE

Rejecting First Offers and

Walking Away (3 Days)

Before

performing

this

exercise, if possible, read the

bonus chapter “How to Get

$700,000 of Advertising for

$10,000” on our companion

site, and then set aside two

hours

on

a

consecutive

Saturday,

Sunday,

and

Monday.

On Saturday and Sunday, go

to a farmers’ market or other

outdoor event where goods are

sold. If this isn’t possible, go

to small independent retailers

(not chains or mass retail).

Set a budget of $100 for

your negotiating tuition and

look for items to purchase that

total at least $150. Your job is

to get the sellers down to a

total of $100 or less for the lot.

It is better to practice on many

cheap items rather than a few

big items. Be sure to reply to

their first offer with, “What

type of discount can you

offer?” to let them negotiate

against themselves. Negotiate

near closing time, choose your

objective price, bracket, and

make a firm offer with cash in

hand

for

that

amount.48

Practice walking away if your

objective price isn’t met. On

Monday, call two magazines

(expect

the

first

to

be

awkward) and use the script

on the companion site to

negotiate, minus the last firm

offer. Get them as low as

possible and then call them

back later to indicate that your

proposal was refused by upper

management

or

otherwise

vetoed.

This is the negotiating

equivalent of paper trading.49

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