The 4 Hour Workweek?

IlliniProgrammer:

It's an interesting read. Like it or not, Ferriss is a marketing genius.

However, I think it's a better book for career professionals with 10 years of experience, maybe looking to start their own business, than the typical college student. It provides a lot of good advice to people with capital, strong professional reputations, and backup options.

To college students who might be reading this, I recommend spending at least three or four years building up those safety nets before taking Ferriss's advice at face value. Develop the work ethic first and then decide whether it's helping you or not. :D

Why do you say that? He advocates starting businesses that have low starting costs. I mean, yes, not everyone has a few grand lying around, but 2-3K isn't exactly an amount you would require a 'safety net' for.

CaptK:

Considering I'm pretty much Ferriss fanboy #1 around here, I'll chime in on this post. I read the book while I was in banking and it totally changed my outlook - both on business as well as personal life. I launched my own muse about a year afterward (only took that long because I was dragging my feet) and it's approaching a point now where I'm thinking twice about quitting my job and going out on my own full time. The 4HWW really opened my eyes about how easy it is to start a business and how easy it is to reach out and take what you want out of life, if only you'll extend your hand.

You can read a lot more opinions by a lot of the certified users (including me) in this thread: http://www.wallstreetoasis.com/blog/24-hour-bonus-on-4hww - bottom line, it's a great book.

Lol, SB for the groupie love disclosure, but you aren't getting me to buy into the 4HB until I see a bicep on your forehead.

I agree with most of what you said about 4HWW, but I do think the salient point for all those looking to it (or any other lifestyle design handbook for that matter) for guidance is that Ferris already had a $40K/month business when he wrote it. So it won't necessarily give you the process if you're looking to go from scratch.

It's definitely a great attitude adjustment for those stuck in the grind mentality of the working slave, but is by no means the answer.

I would say instead; the 4HWW is a great springboard to thinking the right way if you're sick of the grind and want to do your own thing. I also think that some of Ferris's recommended readings at the end of the book, may be more useful than the book itself.

IlliniProgrammer:

You also either have to disclose businesses that you're coming in with or cease operations in those businesses and then get approval to restart them when you're hired. It depends on the firm.

Again, just be careful.

I see. Thanks for the heads up. Do you just talk to HR about this? And do they usually put up a big stink about this kind of stuff?

IlliniProgrammer:

Well, I ran a website registration/development business when I came in. HR said I could keep the business, but "just don't work on it over the summer." I gave it up once I started work full time.

Do you if that's just finance, or does it apply to other fields like consulting as well? If thats the case, then I figure I could just get a business partner in a different field to run it, which means I wouldn't have to worry about working on it. Thanks for the help btw, I'd toss a SB if I had one.

IlliniProgrammer:

Nope. Just a FINRA rule. But greater than X% (X being something like 20%) is still considered an outside affiliation or directorship, I believe.

Getting some experience running a small business in college is great. But it's hard to work and run one at the same time- especially if you're just starting out. It might just be a good idea to start up an outside business when you've got some leverage to get your MD to sign off on it. IE: after you've been on the job for a year or two and just finished a huge project for him.

Illini SB for all your insight on the thread.