#628: Q&A with Tim — Revisiting 15+ Years of PR and Marketing Lessons, Time Dilation for Deep Relaxation, The Art of Setting Ultra-High Prices, The Low-Information Diet, Studying Animal Communication, My 3-Day Fasting Protocol, Tools for Handling Adversity, Selling to the Affluent, My Current Coffee and Alcohol Rules, Risk Mitigation, and Much More

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Oct 11, 2022

Dive into insights on premium pricing strategies and the art of launching products effectively. Discover the benefits of a low-information diet for heightened focus and productivity. Explore the nuances of fasting protocols while learning about personal relaxation techniques for back pain. Enjoy unexpected discussions on animal communication and navigating grief, all wrapped in engaging anecdotes from lifestyle choices around coffee and alcohol. It's a treasure trove for anyone seeking personal growth and marketing wisdom!

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ADVICE

Mitigating Risk in Restaurant Launches

Mitigate risk when launching new ventures, like restaurants, by experimenting with low-cost prototypes.
Start with food trucks or pop-ups to gather feedback and refine your concept before full-scale launch.

ADVICE

Gathering User Feedback

Observe people using your product to gather real-world feedback, rather than relying on opinions.
Pay testers, use screen recording tools, and analyze their behavior to identify areas for improvement.

ADVICE

High-ROI Marketing

Focus on high-ROI marketing campaigns by identifying neglected or emerging channels.
Consider the long-term engagement potential of different platforms and tailor your approach accordingly.

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Become the arrow

Byron Ferguson

Glenn Helgeland

Byron Ferguson's 'Become the Arrow' offers insights into the philosophy and practice of modern barebow shooting. The book emphasizes mental exercises, arrow flight visualization, and effective practice techniques. It also covers bowhunting strategies and common mistakes to avoid, making it a valuable resource for both beginners and experienced archers.

Selling to the Affluent

Thomas J. Stanley

One simple idea

Stephen Key

In 'One Simple Idea', Stephen Key shares his expertise on transforming creativity into marketable products by licensing ideas to companies. The book provides strategies for product development, sales, and negotiation, highlighting the potential for passive income without the need for manufacturing or business management. Key emphasizes that successful ideas should solve problems, have a 'wow' factor, appeal to a large market, and use common production methods.

The 22 Immutable Laws of Marketing

Violate Them at Your Own Risk

Al Ries

Jack Trout

In this book, Al Ries and Jack Trout present 22 immutable laws of marketing that are essential for understanding and succeeding in the international marketplace. These laws, such as the Law of Leadership, the Law of the Category, and the Law of Perception, emphasize the importance of being first in the market, creating new categories, and focusing on perceptions rather than products. The authors argue that violating these laws can lead to marketing failure, regardless of the resources or creativity invested. The book provides a clear path to successful marketing by adhering to these timeless principles.

Losing my virginity

How I Survived, Had Fun, and Made a Fortune Doing Business My Way

Richard Branson

In this autobiography, Richard Branson recounts his life from his childhood to his early 40s, highlighting his entrepreneurial ventures, adventures, and the growth of the Virgin brand. The book includes stories of his challenges, such as crash-landing a hot-air balloon, signing notable music artists, and battling British Airways. It emphasizes Branson's approach to business, which combines risk-taking, determination, and a balanced life filled with family, friends, fun, and adventure.

The One Thing

The Surprisingly Simple Truth Behind Extraordinary Results

Jay Papasan

Gary Keller

The book discusses the benefits of prioritizing a single task and provides strategies for overcoming distractions, building productive habits, and maintaining focus. It challenges common productivity myths such as multitasking and the idea of a balanced life, and introduces the 'Focusing Question': 'What's the ONE Thing I can do such that by doing it everything else will be easier or unnecessary?' The authors also discuss time blocking, habit-building, and aligning short-term actions with long-term goals to achieve success in various aspects of life[1][3][5].

1000 True Fans

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Kevin Kelly

Kevin Kelly's '1000 True Fans' challenges the conventional wisdom of needing millions of customers for success. Kelly argues that a creator or business can thrive by cultivating a dedicated following of just 1000 true fans who deeply appreciate their work and are willing to pay for it. The book emphasizes the importance of direct connection with fans and building a loyal community. It provides a practical framework for identifying and engaging with true fans, regardless of the field. This approach allows for sustainable growth and creative freedom.

The 80/20 Principle

Richard Koch

The 80/20 Principle by Richard Koch introduces a powerful paradigm that suggests 80% of our outcomes result from just 20% of our efforts. The book explains how this principle, also known as the Pareto Principle, can be applied in various aspects of life and business to increase effectiveness and efficiency. Koch provides practical examples and strategies for identifying and focusing on the most impactful 20% of efforts to achieve significant results with minimal time and resources. The book emphasizes the importance of concentrating on high-impact activities and eliminating or outsourcing less important tasks to enhance productivity and happiness[2][3][5].

Deluxe

How Luxury Lost Its Luster

Dana Thomas

Deluxe: How Luxury Lost Its Luster is a social history that explores the evolution of luxury from its aristocratic roots to its current status as a mass-produced commodity. Dana Thomas delves into the dark side of the luxury industry, uncovering secrets behind brands like Prada, Gucci, and Burberry. The book offers a fascinating look at how globalization and corporate strategies have reshaped the concept of luxury.

4000 Weeks

Oliver Burkeman

A book about time management and how to live a more fulfilling life.

Small Giants

Companies That Choose to Be Great Instead of Big

Bo Burlingham

In 'Small Giants', Bo Burlingham explores companies that have rejected the pressure to grow endlessly and instead focus on more satisfying business goals. These companies, termed 'small giants', prioritize being great at what they do, creating a great place to work, providing excellent customer service, making significant contributions to their communities, and finding fulfilling ways to lead their lives. The book highlights examples such as Anchor Brewing, Righteous Babe Records, and Clif Bar Inc., and discusses the benefits and challenges of maintaining a smaller, more personalized business approach.

Radical acceptance

Embracing Your Life With the Heart of a Buddha

Tara Brach

Radical Acceptance by Tara Brach offers a transformative practice to help readers overcome habitual feelings of deficiency and better relate to their experiences and emotions. The book emphasizes two key pillars: observing one's experience clearly and responding with compassion. Through personal stories, case histories from her clinical psychology practice, and guided meditations, Brach provides practical guidance on mindfulness, compassion, and acceptance. The book helps readers stop being at war with themselves and live fully in every moment, addressing issues such as self-judgments, conflicts, addictions, and perfectionism. It also clarifies that Radical Acceptance does not mean self-indulgence or passivity but rather empowers genuine change and healing[1][3][5].

On Grief and Grieving

Finding the Meaning of Grief Through the Five Stages of Loss

Elisabeth Kübler-Ross

David Kessler

This book, written by Elisabeth Kübler-Ross and David Kessler, explores the process of grief through the lens of the five stages of loss. It delves into the inner and outer worlds of grief, covering topics such as sadness, hauntings, dreams, isolation, and healing. The authors provide practical advice and share personal stories, emphasizing that grief is highly individual and there is no fixed timeline for the grieving process. The book addresses specific circumstances like suicide, multiple losses, and sudden death, making it a valuable resource for those experiencing loss and those supporting them.

Built to sell

Creating a Business That Can Thrive Without You

John Warrillow

In 'Built to Sell', John Warrillow provides practical advice on creating a business that can operate independently of its owner. The book is structured around a story where a business owner, Alex, is guided by his mentor Ted to transform his marketing agency into a sellable business. Key lessons include running the company as if it will last forever but being ready to sell at any moment, focusing on a specific, non-customizable product or service, creating a positive cash flow cycle, and hiring a sales team to remove the owner from the sales process. The book emphasizes the importance of making the business repeatable, valuable, and teachable to attract potential buyers.

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Welcome to another episode of The Tim Ferriss Show, where it is usually my job to sit down with world-class performers of all different types to tease out the habits, routines, favorite books, and so on that you can apply and test in your own life. This time, we have a slightly different format, and I’m the guest.

As some of you know, I tested a “fan-supported model” in 2019, but I ended up returning to ads by request. That’s a long story, and you can read more about it at tim.blog/podcastexperiment. I recently sat down with the original supporter group for a fun and live Q&A on YouTube.

In this episode, I answer questions on marketing and product launches, premium pricing, user feedback, fasting routines, podcast advertising, my recent gardening adventures, tools for releasing tension in the iliacus and psoas muscles, my current coffee and alcohol rules, advice for artisans, animal communication, tools for adverse life moments, and more.

Please enjoy!

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[08:27] How I would build clientele/mitigate risk if I were opening a restaurant.

[13:02] Raising awareness for a new productivity tool.

[18:33] Notable contributions during my days as a tech company advisor.

[21:21] Biggest project/challenge at the moment.

[22:02] Biggest takeaway from my own work that often gets overlooked.

[24:47] Thoughts on curated newsletters for information gathering.

[26:47] Recent spiritual shifts?

[30:07] Derek Sivers.

[30:50] New invention: franchise or sell the proprietary system?

[35:41] My experience with Bas Rutten’s O2 breathing device.

[38:19] Encouragement for a caregiver amid a chronic medical situation.

[40:18] Ketamine and bladder damage.