The Compound Effect – Darren Darren Hardy Chapter 1 – The The Compound Effect in Action You haven’t experienced experienced the payoff payoff of the compound compound effect. It’s hard to stick with it because there’s no immediate payoff.
Small, smart choices + consistency + time = Radical difference Examples: the penny effect, the three friends Ripple effect Don’t let success make you y ou complacent Get rid of microwave mentality
Summary action steps: 1. Write down excuses excuses that you might be clinging to. Decide Decide to make up for for it in hard work and personal personal development to outcompete outcompete anyone. 2. Write down small steps that can take take your life in a positive positive direction. 3. Write down small steps you need to stop doing, that that might take your life in a negative direction. 4. List a few areas you’ve been successful in the past. Consider whether you have been taking your success for granted. Don’t let complacency lead you to future failure. Chapter 2 – Choices Choices
You make your choices, choices, and your choices make you Your biggest challenge is you’re sleepwalking through your choices Elephants don’t bite, mosquitoes do. Wake up and make empowering choices Thanksgiving year-round year-round (relationships) (relationships) Owning 100% Formula for getting lucky: 1. Preparation (personal growth) + 2. Attitude (belief/mindset) (belief/mindset) + 3. Opportunity Opportunity (a good thing coming your way) + 4. Action (doing something about it) + = Luck The high price of of tuition at UHK UHK – take take responsibility for it, no matter what has happened to you Your secret weapon – your your scorecard – bring bring awareness of the choices you make You cannot improve improve something something if you don’t measure measure it Keep it slow and easy What is the true true cost of your choices? (money - every dollar you spend now is a dollar dollar not invested which would be worth more in the future) The unsung, unseen unseen hero Time is of the the essence
Summary action steps:
1. What area are you struggling with the most? Journal all the aspects of that area that you are grateful for. 2. Where in your life are you not taking 100% responsibility for the success/failure of your present condition? Write 3 things that you did that messed up your situation. Write 3 things you should have done but didn’t. Write down 3 things that happened to you but you responded poorly. Write down 3 things that you can start doing right now to take back responsibility for the outcomes of your life. 3. Track 1 behaviour in 1 area of your life you’d like to improve Chapter 3 – Habits
A daily routine built on good habits is the difference that separates the most successful amongst us from everyone else. Choose to make up for what you lack in innate ability with discipline, hard work, and good habits Start by thinking your way out of the instant gratification trap. Problem: the payoff for instant gratification far outweighs what’s going on in your min d concerning long-term consequences. The bad habits you indulge in could be compounding your life into repeated disaster. Finding your mojo – willpower is not enough to change your habits. Try why-power. Your choices are only meaningful when you connect them to your desires and dreams. What motivates you? Why everything’s possible – All the hows will be meaningless until your whys are powerful enough Look beyond the motivation of monetary and material goals. These two skillsets feed off each other (success and fulfilment), and makes me believe that success without fulfilment is failure – Tony Robbins. Core values - define who you are and what you stand for. When your actions conflict with your values, you’ll end up unhappy and frustrated. Decision making is also made easier. Find your fight – sometimes we can be motivated by hate. All that matters is you feel motivated. Rather than letting past hurtful experiences sap our energy and sabotage our success, we can use them to fuel positive, constructive change. Goals. The person who has a clear, compelling why will always defeat even the best of the best at doing the how. How goal-setting actually w orks. Some things aren’t accessible to you until your thoughts focus and direct your mind to see it. Define them clearly. Who you have to become. “Who you need to become” is a more important question to ask when you set out to achieve your goals than “what do I need to do?” Jim Rohn – Success is something you attract by the person you become. You + Choice (decision) + Behaviour (action) + Habit (repeated action) + Compounded (time) = Goals Write down your top 3 goals. List of bad habits that might be sabotaging your progress in each area. Add to the list, all the habits that you need to adopt, practiced and compounded over time, that will result in you achieving your goals. Habits and behaviours never lie. They reveal the truth of who you are.
5 strategies for eliminating bad habits: 1. Identify your triggers – identify what triggers your bad habits. “who”, “what”, “where”, “when” 2. Clean house. Get rid of whatever enables your bad habits. 3. Swap it. How can you alter your bad habits so that they’re not as harmful? 4. Ease in. For some long-standing and deep-rooted habits, it may be more effective to take small steps to ease into unwinding them. 5. Or Jump In. Some researchers found that it can be paradoxically easier for people to make lifestyle changes if they change many habits at once. It may be painful at first, but within little time, it will be worth the temporary discomfort. Run a vice check. Go on a “vice fast”. Pick something that you do in moderation, but you know doesn’t contribute to your highest good. If you f ind it seriously difficult to abstain for 30 days, that habit is worth cutting out of your life. 6 techniques for installing good habits: (the key is staying aware. If you want to maintain a good habit, pay attention to it at least once a day, and you’ re far more likely to succeed): 1. Set yourself up to succeed. New habit has to work inside your life and your lifestyle. 2. Think addition, not subtraction. “The Add -in Principle”. Instead of focusing on what you have to sacrifice, think about what you get to “add in”. What can you choose to add in to enrich your life? 3. PDA – Public Display of Accountability 4. Find a Success Buddy 5. Competition and Camaraderie – How can you inject fun rivalry and a competitive spirit into your new habit? 6. Celebrate. Change is hard. 99% of successes and failures have one thing in c ommon, they hate doing the same things. But the difference is successful people do them anyway. When you press on despite difficulty, you earn your improvement and gain strides on the competition. Be patient. Patterns of thoughts and actions repeated many times create a “brain groove”, a series of inter -connected neurons that carry the thought patterns of a particular habit. Attention feeds the habit. If we stop giving attention to the habits, those grooves weaken. If you fall off the wagon, brush yourself off and get back up. Try another strategy.
Summary action steps: 1. Identify your 3 best habits, those that support your most important goal. 2. Identify 3 bad habits that take you off course from your most important goal. 3. Identify 3 new habits that you need to develop to put you on track toward your most important goal. 4. Identify your core motivation. Discover what gets you fired up and keeps you fired up to achieve big results. 5. Find your why power. Design your concise, compelling, and awe-inspiring goals.
