Tim Ferriss created his own degree. How could you in 5 days with 5 easy steps?

Latest from the With Joe Wehbe Podcast.

This comes from my recent podcast episodes breaking down famed thought leader and host of the Tim Ferriss Show, Tim Ferriss.

Today’s breakdown comes from episode ‘#233: How Tim Ferriss Created His Own MBA’

Though the podcast is daily, a short summary of the biggest idea of the week can be had here by signing up:

1/ Understand your learning style. Why do a degree or course in anything?

Ferriss considered doing a Stamford MBA — but he wasn’t interested in abstract or complex theories that were unlikely to be relevant to actual business or investing.

He wanted skills. Most skills are developed through practice, not theoretical learning. He didn’t see the point in learning a lot of information that might be useful ‘one day’ — he focuses on just-in-time information.

2/ Take the cost of the traditional degrees/courses and set this money aside. Invest it in your own project to learn that thing.

A Stanford MBA cost $120,000. Ferriss set that money aside and decided he would invest it directly in startups over the same time-frame, alongside his friend who was an experienced investor.

Other examples:

• Writing courses vs. self-publishing a book directly for $1,000.

• Speaking courses vs. starting a podcast or running a workshop.

• Setting up an e-commerce store for less than $150 today vs. a three-year business degree or marketing degree.

😡 ‘But university and college can be useful Joe’ — sure, don’t avoid them for the sake of it. Just be clearer. Most people are there because they’re conditioned to be there.

3/ Set the downside and expect to lose all your money — remember, you’re investing in your learning.

Ferriss could afford to lose $120,000. It wouldn’t shipwreck him. We call this the Minimum Viable Lifestyle — always protect your MVL and you can’t lose.

You’re investing in your learning, so you’re assuming you won’t see the money again. Write it off mentally — this forces you to justify the investment. What justifies your investment? See no. 4.

4/ Focus on what skills and relationships you’ll develop ‘even if you lose’.

But how can you lose when the goal is learning?

👉 In the two year $120,000 Stanford MBA, Ferriss would lose his money but he might learn practical things about angel investing.

👉 In the two year self-directed ‘MBA’, for the same money, there’s no way he won’t develop real skills and lots of relationships that exceed in value $120,000.

This is true for me and say, Constant Student. The value of the relationships and skills I’ve learnt has already exceeded the $1,000-$2,000 required to start it. What is the market value of these?

• Community-building

• Marketing

• Website design

• ‘Coaching’ of various forms

• No-Code skills

• Writing

• Speaking

• Running Workshops

• Etc.

5/ The only obstacle is now fear, not logic

And this is where I leave you — because Tim Ferriss has a whole paradigm around ‘fear setting’ to overcome fear. Check it out!

Who needs to create their own degree?

Check out the podcast!

You can watch it on Youtube or head to wherever you get your podcasts.

☢ Want to unlock your inner genius? There is a Da Vinci hidden in you.

Get these summaries once a week to find out, or, catch the next daily episode when it launches at 5am AEST every morning.

Sign up to The Doorman below to get these summaries once a week.

Remember, the best way to open a Thousand Doors for you is to concentrate on opening Doors for others.