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The Compound Effect

The Compound Effect

by Darren Hardy

13

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The Compound Effect

The Compound Effect

SMALL, SMART CHOICES + CONSISTENCY + TIME = RADICAL DIFFERENCE

The Compound Effect is the principle of gathering huge rewards from a series of small, smart choices. Small, seemingly insignificant steps completed consistently over time will create a radical difference.

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Choices Shape Your Destiny

Everything in your life exists because you first made a choice about something. Choice is at the center of all success and failure. It is what we choose that makes the biggest difference.

Too often we sleepwalk through our choices. We default to choices that our society and culture tells us we should do. And it's not big choices, but ones that you think don't matter or count for much that derail us.

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Creatures of Habit

  • 95 percent of everything we feel, think, do, and achieve is a result of a learned habit.
  • With enough practice and repetition, any behavior, good or bad, becomes automatic over time.
  • That means that even though we developed most of our habits unconsciously (by modeling our parents, responding to environmental or cultural associations, or creating coping mechanisms), we can consciously decide to change them.
  • The habits you indulge in could be compounding your life into a repeated disaster.

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Become Aware Of Your Choices

Become Aware Of Your Choices

Repeated choices become habits. The first step toward change is awareness and the best way to become aware is to measure.

  • Track every action that relates to the area of your life you want to improve.
  • Start off with an easy tempo. Just track one habit for one week.
  • Pick the habit that has the greatest control over you; that’s where you’ll start.
  • Once you start tracking your life, your attention will be focused on the smallest things you’re doing right, as well as the smallest things you’re doing wrong.

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Strategies for Eliminating Bad Habits

  • Identify your triggers: Look at your list of bad habits. Figure out the “who,” the “what,” the “where,” and the “when” underlying each bad behavior.
  • Clean the house. Get rid of whatever enables your bad habits.
  • Look again at your list of bad habits. How can you alter them so that they’re not as harmful? Can you replace them with healthier habits or drop-kick them altogether?
  • Ease in. For some of your old habits, it may be more effective to take small steps to ease into unwinding them.
  • Or jump in. We are all different and some researchers have found that it can be paradoxically easier for people to make lifestyle changes if they change a great many bad habits at once.

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Techniques for Installing Good Habits

  • Set yourself up to succeed. Any new habit has to work inside your life and lifestyle.
  • Think addition, not subtraction. Think what you can choose to “add in” so you can enrich your life experience.
  • Go for a Public Display of Accountability. Once you put it out there on the public record, you knows that you'll be held responsible for any action.
  • Find a success buddy .There are few things as powerful as two people locked arm and arm marching toward the same goal.
  • Competition & camaraderie. There’s nothing like a friendly contest to whet your competitive spirit and immerse yourself in a new habit with a bang.
  • Celebrate. There should be a time to celebrate, to enjoy some of the fruits of your victories along the way.

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We Are Affected By 3 Kinds Of Influences

  • Input (what you feed your mind)
  • Associations (the people with whom you spend time)
  • Environment (your surroundings).

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Momentum Is Huge

Momentum Is Huge
  • Objects in motion tend to stay in motion.
  • The hardest part of momentum is the beginning. But once you get moving you can keep going very easily.
  • With momentum, you can continue succeeding with less work. It's easy to keep things running once you have momentum.

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Find Your "Why" Power

  • The most motivating choices are ones that align with your “why” and your purpose.
  • You need a deep why for doing stuff. With a why that is meaningful enough, you will do almost anything.
  • The access point to your why-power is through your core values, which define both who you are and what you stand for.

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Core Values: Your Personal GPS

  • Your core values are your internal compass. They act as the filter through which you run all of life’s requests, requests, and temptations, making sure they’re leading you toward your intended destination.
  • Getting your core values defined and adjusted is one of the most important steps in redirecting your life toward your own definition of success.
  • Decision-making is also easier when you are certain of your core values.

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Setting Goals

  • When you define your goals, you give your brain something new to look for and focus on.
  • Top people have very clear goals. They know who they are and they know what they want. They write it down and they make plans for its accomplishment. Unsuccessful people carry their goals around in their head like marbles rattling around in a can.
  • Make a list of your most important goals. Go for whole-life success: balance in all the aspects of life that are important to you: business, finances, health and well-being, spirituality, family and relationships, and lifestyle.

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The Formula for Getting Lucky

Preparation (personal growth) + Attitude (belief/mindset) + Opportunity (a good thing coming your way) + Action (doing something about it) = Luck

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Learning Vs Studying

Learning Vs Studying

Learning leads to knowledge. Studying a topic means you are invested in it.

The world already has tons of knowledge. You don't need to learn more. What you need is to study, to practice, and to take action on the knowledge you have.

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SIMILAR ARTICLES & IDEAS:

Counterproductive goal tracking

When you make progress toward your long-term goal, your brain – with its mental checklist of many goals – turns off the mental processes that were driving you to pursue your long-term goa...

How to combat The Progress Trap

  • View your actions as evidence that you are committed to your goal.
  • Always remind yourself why you want to reach your goal, especially as you reach milestones along the way.
  • Look at your accomplishments to see that you really do care about your goal.
  • After you make positive steps toward a goal, ask yourself: “How committed do you feel toward that goal?” 

The Akrasia Effect

The Akrasia Effect

Resistance towards what can help us progress is something human beings are experiencing for centuries. Philosophers call this extremely active and relentless force Akrasia...

Akrasia And Emotional Management

Akrasia is an emotional management problem keeping us from having a better future. It will make up any story to keep us away from something good. It will always prefer instant gratification, harming us in the long run, rather than doing something valuable that can help us in a positive way.

The side effects of Akrasia are stress, guilt, resentment, and missed opportunities.

Approaching Akrasia With Mindfulness

While the much-hyped motivation and willpower have little effect against Akrasia, mindfulness meditation has the power to refocus your actions, and stop the mindless time-wasting.

Mindfulness acts as a foundation for conquering procrastination. We need to proactively take control of our feelings and act towards our goals, something which is possible only with a mind sharpened with mindfulness.

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The bandwagon effect

It's a cognitive bias that causes people to think or act in a certain manner because they believe that other people are doing the same.

For example, the bandwagon effect might cause...

Examples of the bandwagon effect

  • The bandwagon effect can influence people’s political choices.
  • It can influence consumers’ decisions regarding which products to buy.
  • It can influence users’ decisions regarding how to rate stories or comments.
  • It can influence investors’ financial choices.
  • It can influence doctors’ medical decisions.
  • It can influence organizations’ implementation of new technologies.

Why the bandwagon effect happens

It serves as a mental shortcut that people instinctively use in order to make a decision quickly.

Specifically, bandwagon cues, which are signs that other people believe something or are doing something, can trigger the thought that “if other people like this, then I should too”.