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Book Review & Discussion: The Compound Effect

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The Compound Effect

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In this event, you’ll learn

Why instantaneous results are unhealthy

The benefits of losing weight slower

How to get the “Law of Attraction” to work for you

What Michael Phelps’s coach did to get Big Mo on his side

A challenge you can take to prove yourself you’re the boss of your own life

About the Author

Darren Hardy has been the central business leader of the success media industry for 25 years. More than anyone alive today, Darren has met, interviewed and uncovered the methods used by the most successful people in the world. He now teaches these unique success strategies exclusively to those who choose to...Be The Exception.

Overview

Darren Hardy starts the book by introducing us to the most crucial concept for the reader to understand: The Compound Effect. Hardy describes the compound effect as “the principle of reaping huge rewards from a series of small, smart choices”. Hardy argues that consistently making smarter choices, over a long period, is what made the most successful people in the world so successful. Consistency is the fundamental principle that runs throughout this book.

Hardy provides a useful analogy for readers to understand how small changes in your life and decision-making may seem unimportant. Still, if done consistently, they can make a huge difference. He urges readers to consider the scenario: Would you rather have $3 million upfront or one penny that doubles in value every day for 31 days. As humans, we naturally want the immediate gain, and most would choose the first option. However, if your primary goal is to be as successful as possible, the second option is better. With the second option, you will have $10 million by the end of day 31.

Hardy highlights that success doesn’t happen quickly; for example, after 19 days, you only have $5,243. At this point, you might feel like choosing the second option was a bad idea. However, you have to look at the bigger picture and the long term goal.

The second option has a compound interest. We can produce compound gains in our own lives by making the correct decisions consistently over a long time.

Hardy notes that for us to benefit from compounding’s fantastic benefits, we have to be patient and keep faith. Compounding is impacting us every day, so we must use it for our benefit.

How can you start doing this?

Take responsibility for your life

Write down six positive steps that you can implement in your daily life, no matter how small

Write down six negative actions that you frequently do, no matter how small, and attempt to eradicate them

Identify areas where you used to succeed but no longer do due to complacency

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