Name of the Book: - The Compound Effect
Author: - Darren Hardy
No of Chapter :-06
Number of Pages: - 158
One line Description of the book:-
Everything in life compounds
What this book is about: - Book is a collection and application of thoughts of Author on Eighth
wonder of world i.e. Compound Effect.
Book starts with a pretty powerful statement:- Give me enough time, and I will
beat virtually, anybody, anytime, in any competition. Book explains the concept how compound effect comes into play in every
aspect of life in a beautiful manner. Compound effect is the principle of reaping huge benefits from
a series of small, smart choices taken over a period. Darren has summed up the
compound effect in the form of formula which is enumerated below:-
Small, Smart choices +
Consistency + Time = Radical Difference
Darren has shown how
results differ for three friends over a period when one to them choose to have
good choices, another one prefers to stay with the status quo and the last one
made poor choices. He also explained how the ripple effect of one good choice
extends to another ones and affects the life of a person significantly.
Darren explained the
importance of journaling one habit per week to have a real check of what is
going in our life. He explained it with the example of tracking money expenses to see where the hard
earned money of person is going. Darren explained the importance of small
changes by quoting the example of CEO whom Darren advised to step outside of
his office and walk around the building three times a week. CEO was advised to
reach out and personally praise three people whom he saw doing right things.
This small change had brought an atmosphere of encouragement, trust and
enthusiasm in employees which ultimately converted to good profit numbers for
the company. Darren also explained the importance of time to reap the huge
benefits of compounding be it in the field of investing, health or knowledge.
Darren has devoted a complete
chapter on habits and explained how habits shape our destiny over a period of
time. He also explained how a habit of practicing 500 free throws every morning
before school made Larry Bird a Legend in Basketball. Darren elaborates why it
is important to find out our core values and why which can keep us motivating
towards doing same boring, mundane and repetitive things over time. In the
book, Darren has explained five strategies to eliminate our bad habits followed
by six techniques for installing good habits in our daily routine. While
installing good habits, Darren lays importance on adding new things over subtraction like for diet he gives example of adding salad rather than depriving him of something. He also explains
the importance of a success buddy for consolidation and continuation of a good
habits. Darren also explains the importance of celebration of small success to
keep the process of compounding interesting and motivating.
Darren explained the point
how things changes easily and drastically when the momentum of good habits and routine kicks in. He used the example of Newton’s second law of motion to explain how
momentum of regular habits works. Darren also elaborated in details about the importance of daily
routine to achieve outstanding results. He also explained the power of
consistency to achieve and maintaining the momentum.
Next part of the book is
devoted about how our choices, behaviour and habits are influenced by external
forces. Darren has divided the influences in three parts namely Inputs, Associations,
and environments. By Input, Darren means what are we feeding to our mind or body.
The output our mind or body produces depends on the kind of input we provide to
them. Darren advises the readers to keep
guard about what we feed to our minds in age of regular onslaught of digital
information. By Associations, Darren means that the kind of people we are hanging
in influences our thoughts, actions and
habits. About Associations, Darren cites research study by Dr David McClelland
social psychologist of Harvard how your associations determines as much as 95 percent of success or failure in life. Darren
divided these associations in three categories namely dissociations, limited associations,
and expanded associations. Darren also advises not to mix these categories as
it will affect the growth process. Darren
explained the importance of investing in mentorship for all round development and growth
of person.
Last portion of the
book is dedicated to extra effort that we need to put on to achieve the
results. He cited the example of Oprah who keeps on surprising his audience by going
beyond the expectations like giving a car to eleven people in her concert and many
more. Darren deliberated upon how going beyond the mile and doing better than
expected can yield extra ordinary results.
Specific Insights from
the book :-
- Darren
maintained a one healthy habit of thanks giving journal for his wife.
Every day in the journal, Darren keeps on logging one good thing about her
wife. This action forced the Darren to think about positive aspects of her
life partner
- Darren advises to list out 05
friends who can have positive impact on your life in sphere of money,
health and wisdom.
Conclusion:- Book is an excellent read for anyone who wants to improve his
life substantially through small habits.
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