How to set up Perforce for two people on different computers?

I had already downloaded the P4Admin program and had set up a server on my computer.

He’s trying to connect using the P4V client using [my ip]:1666 for the server, a username I defined for him as the username, and no workspace.

The error he’s getting is:

Connect to server failed; check $P4PORT.
TCP connect to [my ip]:1666 failed.
connect: [my ip]:1666 WSAETIMEDOUT