3 BEST WAYS TO EARN MONEY (English) - THE 4 HOUR WORK WEEK BOOK SUMMARY

Hello Friends, Suppose There are Two men, one is Bob and the other one is Robert, Bob works in a Big company, where he earns 12 Lakh of rupees in a year, And on the other side Robert has started an online business, where he is earning 6 lakhs in a year.

BEST WAYS TO EARN MONEY

Now if i ask you, who is more rich between these two, Almost every person will say bob is richer than Robert, Because Bob salary is almost double in comparison to Robert's salary, To some Extent this answer is correct.

Till the time we compare their Absolute income, But in reality the world is Relative not absolute, So now we will compare their Relative Income, Bob works 80 hours in a week, Whereas Robert works only 10 hours in a week, According to this, if we calculate, Bob gets 288 rupees per hour, Whereas Robert gets 1153 rupees per hour.

So now think who is Earning more, Our Time is the most Precious Thing, So if we relate time and money then Robert is more Rich, Because Robert works 70 hours lesser then Bob, He can do many other things in those 70 hours in a week, Like, he can learn new things, can improve his business skills.

And can expand his business and can increase his income, He can give time to himself, His family friends, and can give attention to his health, Because of which his life can be more happy and positive, on the other side, Doing these things could be very difficult for bob, Because he does not have that much time, Not only this but also a concept known as Geoarbitrage, Make this Comparison more Interesting, Hence, Bob works in a big company , which is located in an expensive city, where he has to travel.

So it is necessary for him to stay near his company's location, on the other side, Robert does an online business so he can almost work from anywhere in the world, where is requires only a laptop and the internet.

I am telling you all this, because bob has to go five to six times a week in the office, it cost a lot of travelling, food and house rent or maintenance expenses to him because he live in an expensive city so Even after Earning more, he cannot save much, since, Robert has an online business, he can travel the world and can work at same time, In fact he can earn in Dollars and spend in pesos(stays in Philippines) Which makes everything cheap for him.

Now if i do a comparison, Bob can go to a big Restaurant, and can have his proper meal just once, with that same amount Robert can go to Restaurant 6 times and have a proper meal, And because of all this his expenses are less and his saving are more Geoarbitrage means Leveraging The Economic Difference between markets, To generate Higher Returns, Which is possible only for Robert but not for Bob.

Now the Important question arises, Just Like Robert,is it possible for us to spend less time,and earn more money, So the answer for this is yes, it's Absolutely possible, Even you can do this by making your income Automated, which is similar to my earlier video rich dad poor dad passive income concept, If you haven't watched (rich dad poor dad)video, let me again explain it to you,

There are two types of income, First Active Income, For Earning it, we always need to be Active, Means if we do not work we will not earn or will not get money, For Example; doing job or having own shop managing single handedly and the other one is Passive income, Where it is not necessary to work to get money, even if you have to work then it will not be for more time, for example, renting shop so that you can get its rent, so you can get monthly income,without doing anything, or to start a youtube channel, from where you can earn money by uploading videos.

There are many ways of earning automated income by the use of internet, but the most popular three ways are, first by making own product or content, Second; by licensing the product or ideas, and the third one is Reselling things, Among these three the simplest way is the Resell, suppose you want to become a Reseller, Than at first you have to purchase some product in order to sell it,

You can buy from any wholesale website, like Alibaba or from any website/any source as per your knowledge, from where you can buy at a lesser price, Then you can resell it the same way as you have purchased, or by doing some changes,by making it more better like doing painting on it, then you can sell the final product with profit margin, on your website which you have made, if that's not possible,you can sell it to Amazon, Flipkart websites by becoming the seller, Obviously, These ideas will not be as easy as it sounds.

However you have to learn many things before its Execution, But if you learn everything at once easily and learn how to outsourced work, by doing all this, you can earn lot of automated income, for doing any work effectively at lesser time Author ask us to give more attention to two Points, First Elimination, If you want to get best Results out of your work at lesser time, Then you must know, what all selective work you must do, and most importantly you should know what work you are not suppose to do.

To understand this more properly, the 80-20 principle gets highlighted here, I have made an Entire video, because this principle is very powerful and very important, Those who do not know about this principle, Here, 80-20 principle means, The maximum results which you get is from the less work, In fact you will get 80% of your results just by your 20% work, so you must know, what that 20% work is, so that you can entirely focus and concentrate on that 20% work, and can eliminate the Remaining 80% work, second OutSourcing As a child looking at rich people i use to think, That they hire other people for every small work, like keeping driver ,for household work they hire servants,

So i use to think they do all this just for Show off, or maybe they must be very lazy, but later on i have realized, How Wrong I was, usually Rich mentality people hire servants, to save their Time, Not for show off, Because they know the value and importance of time, They know the more time they spend on driving and other small work, same time they can utilized by doing other important and useful work, From which he can earn more money than all servants salary at once, similarly, Even you have to do the work, which can be done by only you, in which you are the Expert, and rest work can be outsourced to others.

I have shared this knowledge with you all from the 4 Hour work week book, which explains us in detail, how we can start our own business, instead of doing a job, how we can achieve more by working less, and also enjoy our work, so if you want to know more such things in detail, you can buy this book.