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HOW FEAR SETTING BUILT TIM FERRIS TO 100 MILLION

Why envision yourself succeeding when you could do the exact opposite.

Tim Ferris

Tim Ferris. The creator of the world’s first Ferris wheel—-just kidding.

That was George Washington Gale Ferris Jr., as we all know. The Tim Ferris we’re referring to is the one known for his 4 hour work week, and the best-selling book he wrote about it.

He also wrote “Tools for Titans” which is another best seller, and he now runs one of the biggest podcasts in the self improvement space for entrepreneurs, innovators, and more.

But what a lot of people don’t know, is he wasn’t born into being a best selling author or having a big podcast. Not only did he have to earn it, but his journey was a lot harder than most.

Bipolar depression ran in his family, so Tim struggled with depressive episodes often, and heavily considered suicide.

Knowing who he is now, it is insane to think this was a reality in Tim’s younger life, but it was. To be able to take a life that you feel is not worth living when you’re younger, and then become a best-selling author and one of the biggest podcasters in the world is no small feat.

If only there was something he could contribute to his success, that we could give you in this newsletter edition. Oh wait, there is.

Premeditatio Malorum

No, that is not a typo. That is Latin for “the premeditation of evils.”

Seneca is quoted as saying:

“What is quite unlooked for is more crushing in its effect, and unexpectedness adds to the weight of a disaster. This is a reason for ensuring that nothing ever takes us by surprise. We should project our thoughts ahead of us at every turn and have in mind every possible eventuality instead of only the usual course of events…

Rehearse them in your mind: exile, torture, war, shipwreck. All the terms of our human lot should be before our eyes.”

So the goal is to…negative visualize. Sounds a bit backwards, but here us out on this. 

Worst Case Scenario

Picture yourself on a bright morning, ready to embark on a sailing adventure. The sun warms your skin, and the sea glistens with promise. You're full of enthusiasm and optimism. But, like a seasoned sailor, you understand that the open waters are capricious.

In your mind's eye, you briefly glimpse a turbulent sea—a dark sky, monstrous waves crashing against your boat. You can almost taste the salt in the wind, and your heart quickens, despite the scenario being one you'd rather avoid. This mental voyage isn't about courting disaster; it's about being prepared.

As you stand at the helm, your brief vision of the storm is a lifeline, a reminder that you're not afraid of adversity; you're ready to confront it head-on. This isn't a negative thought; it's a practical one. You're not dwelling on the tempest, but ensuring you're equipped to navigate it, your senses sharpened, your resolve unwavering.

With this mental preparation, you take comfort in knowing that whatever challenges the open sea may bring, you'll sail through them with skill and determination, emerging stronger and more resilient. 

But there is a way to use this to your advantage way more, which is where we get into the Tim Ferris tactic. 

Fear Setting

Ya know goals. Yeah, screw those. Let’s set fears instead.

This consists of 3 pages. Here’s what the 1st page should look like.

What if I?….(put whatever you fear here; quitting a job, starting a business, clowns, etc.). There are 3 columns with this.

The first is define. Here, you write 10-20 worst case scenarios if you go through with your fear.

The second is prevent. What could I do to prevent these from happening?

The third is repair. If the worst case happens, what could I do to repair the damage?

As for the second page: what might be the benefits of an attempt or a partial success? 

And for the third - the cost of inaction; what is the emotional, physical, or financial cost of not making this choice in 6 months, 12 months, or 3 years

We’ll Do It For You

This isn’t yours. You’re going to do it after unless you want to keep living the same life you’re living (we know deep down you’re a best selling author).

Let’s test it with 1 example for each.

Fear: quitting your job and starting that sick newsletter business (good idea)

Page 1:

Define - I make no money.

Prevent - ensure that you have done the proper research, you know how long it takes to grow something like this, and you have the work ethic to keep it going until you see the green.

Repair - I could always pivot to a different marketing strategy or make a better market fitted newsletter. I could also try a different business model if I find out this one sucks all of the sudden.

Page 2:

What might be the benefits of an attempt or a partial success?

I would have a huge confidence boost, I could make a little bit of money, and finally feel like I made it out of the infinite unfulfilling work to do my own thing.

Page 3:

The cost of inaction.

(We’ll just focus emotional here)

6 months:

You might feel regret and frustration, wondering what could have been if you had pursued your passion. The sense of unfulfilled potential and stagnation may take a toll on your self-esteem.

1 year:

Regret and dissatisfaction may intensify as you reflect on another year spent in a job that doesn't fulfill your passion. You may experience a sense of missed potential and wonder what might have been if you had taken the leap.

3 years:

Over time, regret and frustration may deepen, affecting your overall happiness and well-being. You may wonder why you didn't take the opportunity to pursue your passion and may feel like you've missed a significant window of growth.

Din

Din isn’t just our company name (The Dinner Party) shortened. It also means Do It Now apparently.

And we’re not messing around. We want you to improve, and if it doesn’t happen seconds after you close this newsletter, we haven’t done our jobs.

Take out a journal, a piece of paper, write on some random surface, on your hand, whatever you have to do.

Make the 3 pages. Define the fear, figure out how to prevent the worst cases, repair them if it happens, then what would happen if something we right, then the cost of inaction.

Tim used this framework when he was debating going to London, and he was worried about his business failing. After running it through Fear Setting, he made the trip.

That then turned into a year and half long trip around the world, which is what led to his best selling book. Now he does “fear setting” once a quarter, if not once a month.

If that isn’t reason to do it, I don’t know what is.

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And yeah, maybe Elon will call you baby too.