Book Summary – The Compound Effect Book is a must-read for those who haven’t started the investment journey and still, have some questions about investment. Whether you want to start investing or want to improve yourself, the Compound Effect Book will teach you from Zero to One.
Quotes from Compound Effect Book:
“The real cost of a four-dollar-a-day coffee habit over 20 years is $51,833.79. That’s the power of The Compound Effect.” – Darren Hardy
“Don’t wish it were easier; wish you were better.” – Darren Hardy
“Small, Smart Choices + Consistency + Time = RADICAL DIFFERENCE”- Darren Hardy
“In essence, you make your choices, and then your choices make you.” – Darren Hardy
“Consistency is the key to achieving and maintaining momentum.” – Darren Hardy
“Losing is a habit. So is winning. Now let’s work on permanently instilling winning habits into your life.” – Darren Hardy
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Compound Effect Book Summary
The Compound Effect Book is the power of knowledge, the more you read, the more you will understand the power of Compound.
I would highly recommend you to buy this book from Amazon and start reading it right now, it has everything that you will need to live a better life.
Whether you want to complete your goals, want to buy a new smartphone, or want to start investing. The Compound Effect Book will teach you everything from the ground to top in simple language.
Choices + Behaviour + Habits + Time = Compound Effect
- Change your goals into daily habits
- Set routines for a certain task
- Do what you do every day, don’t skip a day.
You can archive anything you want but for that, you have to choose what’s best for you.
Lesson 1: Turn Your goals into Habits
Let’s say, you want to start reading books every day. So what you can do is,
- Find place where you can read book
- Select the time (ex; I will read book at 7:00 AM in my badroom).
- Repeat the same habit for months
- After month, you will automically go to your badroom at 7:00 AM to read books.
Now, this may sound easy but it’s not. Adding new habits will take time but if you really want to start reading then you have to read even for five minutes every day.
The same can be applied for exercise, writing, learning a new language or anything else.
Also, when you want to quit or add new habits, it will take some time, so follow the process and trust yourself. In the end, you will get what you wanted.
Lesson 2: Choices
When you wake up in the morning, you have two choices,
- Whether you can start using smartphone or
- Start reading books
Now, your mind will choose a smartphone because that’s what makes you happy but sometimes, you have to say no.
Just like that, everyone has a choice whether it’s about reading books, doing exercise every day, starting a business, doing jobs.
So here, you have to choose, what’s best for you.
Lesson 3: Investment
I think everyone knows, who is Warren Buffett? right. So let me share with you his investment journey and see, how Compounding Effect works.
As you can see, if you start investing a little bit of money every month or week then after five or ten yours, how much you can have.
Now, to follow, what Warren Buffett did is not easy but it’s not impossible too.
Select date and when that date comes investment certain amount of money on a stock market or anywhere else where you feel, right.
“The real cost of a four-dollar-a-day coffee habit over 20 years is $51,833.79. That’s the power of The Compound Effect.” –Darren Hardy
Do this for ten years and after ten years, you can just quit your job or anything else and enjoy the rest of your life.
In short, what the author has said, start investing as soon as possible, it doesn’t matter how much you invest.
Lesson 3: Time Management
If you think you have time then you’re not living in the present.
Time is passing every second, so you have to manage your time on the most important things.
Don’t waste by watching movies, playing video games, watching porn.
So before you start your day, write down tasks for the next day.
- Exercise – Important
- Reading books – Important but Not Urgent
- Writing Article – Important
- Video Editing – Important
- Posting Videos on all of Social Media websites – Important but Not Urgent
- Watching Movies – Not Important or Urgent
- Going out with Friends – Not Important or Urgent
- Buying new Smartphones – Not Important or Urgent
- Playing Videos games – Not Important or Urgent
Just go take pen and paper and write everything you wanted to do the next day along with whether the task is impotent or not.
This way, you will be able to do more work in less time.
Compound Effect Book Review
The Compound Effect Book will teach you, how to invest your money, how to build good habits and remove bad habits, how doing 1% every day can change your life. Overall, The Compound Effect is a powerful book that will make a huge impact on your life.
Why you should read Compound Effect Book
- If you’re afraid to invest money then this book will open your eyes.
- If you want to add new habits or quit bad habits then this book will help you to do so.
- If you want to manage time and get most of time.
- If you want to set goals and complete in less time.
In the end, I would say, if you want to live comfortable life then make sure you start investing. It could be anywhere but invest as much as you can.
Now some of you may don’t like to read 300 pages books, so you can also listen to Audiobook. Go get Compound Effect Book audiobook for free for a lifetime.
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