Invention: On starting a business with Tim Ferriss

Indiscriminate action is reflective of too little thinking and planning, and that is lazy.

It's one of the most destructive forms of laziness, because it is socially reinforced, and people will encourage you to do that.

In other words, they will say: "Don't just stand there! Do something!".

Well, if you're constantly doing things that are not carefully thought through, you will end up doing the opposite of the 80/20 principle.

You will end up specializing in unimportant things.

You will become an expert in doing the things that are trivial well.

And that is a travesty and is a huge waste of life.

– Tim Ferriss, https://youtu.be/ymiBDged-eQ?t=1026

1. Create a category of your own.
   • Chapter "The Law of Category" in book "The 22 Immutable Laws of Marketing", https://youtu.be/ymiBDged-eQ?t=68
   • Available here: https://archive.org/details/22-immutable-laws-of-marketing/page/10/mode/2up
2. Do NOT think of growing as big as possible. Opt to do a GREAT job, not to serve every person possible.
   • Book "Small Giants"
   • https://www.kobo.com/pl/en/ebook/small-giants-1
3. Scratch your own itch.
   • "I wrote a book I personally wanted to exist." ("The 4-hour work week")
   • "You only need One Thousand True Fans."
   • Essay "One Thousand True Fans"
   • Aiming to serve well these people only, you have a clear way to monitor your performance every week/month/quarter.
4. If you do all this planning, you stand a 50/50 chance of succeeding.
   • NOT "99% chance of failing like most startups do" – as some say.
5. Book: "The Effective Executive" by Peter Drucker
   • "This is a gold mine."
6. Book: "The 80/20 principle" by Richard Koch
   • Principle aliases: "Pareto principle", "Power law", "Zipf law"

For recalibration if needed:

1. "Walden" by Thoreau, and
2. "Vagabonding" by Rolf Potts

Source: Tim Ferriss, https://youtu.be/ymiBDged-eQ

A good summary of "4-hour work week": Ali Abdaal, https://www.youtube.com/watch?v=nk_Pfxmqn6g