The Compound Effect by Darren Hardy
One of my goals for the year was to read at least one book a month during 2018. So far I have been doing good on this goal. Each month I have published an article about the latest book that I have read and this month will be no different. I am going to try something a little different this month. First, I am going to give a little summary of the book and then I am going to give my thoughts on it at the end. If the books that I discuss interest you and you would like to buy a copy for yourself then I would greatly appreciate you clicking on the image or a link and purchase it through my affiliate link. Even if you don’t purchase a copy, I still look forward to reading your comments that you leave me down below.
Summary of The Compound Effect
The Compound Effect
The book only has 162 pages so it isn’t very long. The author made the book short and to the point. Each chapter highlights a theme which is then explained during the given chapter. To start with he explains how the compound effect works in action. Once he has set the tone for the book he then begins to discuss the steps that are required for the compound effect to work. These steps consist of choices, habits, momentum, influences and acceleration.
This book is not designed as a get success quick book. It lays out the foundation of the keys to success. Once that foundation is laid then each proceeding chapter builds on the concepts that have already been taught in the previous chapters of the book.
Thoughts on The Compound Effect
Personally, I really enjoyed this book. The author isn’t teaching some new ground breaking information but he has arranged the information in a way that allows it to flow smoothly which makes it very easy to read. He also helps illustrate his ideas with some great examples of famous people and some not so famous people. The whole idea is that every small decision that we make affects us. If we want to lose weight, we can not achieve this by simply working out once or twice. We have to set that goal and then make the choices which will allow us to reach that goal. As we become more consistent with those decisions, the compound effect starts to gain momentum.
The real beauty of the compound effect is how it affects other areas of our lives than just the ones that we intended to. For example, using the losing weight scenariario. Once you start making those choices to lose weight, you will probably start eating healthier which will cause you to stay away from fast food. Since you are not eating fast food, that will allow you to save more money and help you achieve financial goals. Or maybe because you are living a more active life it will allow you to meet new people and network with them. If you weren’t choosing to lose weight you probably wouldn’t have been in a situation to meet them.
The book has proven to be a very useful tool for myself. I would read the book at night before I went to bed and then I would find myself practising the ideas the next day. I plan to continue using the compound effect in my life. I will continue to apply the things that I learned so I can continue to strive towards success.
I have been using the compound effect for my investing strategy. Now it is time to let it work for me in every aspect of my life!!!
Have you read this book? If so, I would love to hear your opinion!
So far, I have been keeping up with my goal of reading one book a month!
Look for another new article about a different book next month!
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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Sounds like a good book Jason. Making an improvement in one area can have positive effects in other areas. Good words to live by. Tom
Tom from Dividends Diversify recently posted…A Teaching Moment
I’m reading this book right now, actually. It’s a nice read. The author gives different perspectives and real life situations in which the power of compounding does its magic. His writing style is clear and straightforward. The stories about his father are nice and makes clear he learned to focus and stay disciplined at a very young age. I think it’s a good read for investors who practice dividend growth investing. But, there’s more than that. It stresses in general the point that success is within everyone’s reach when you have a long-term view.
Yeah, that is very true. I honestly picked up the book because of the name “The Compound Effect”…. I thought it was about dividend investing. I soon realized that it wasn’t but I think that it was a great book and am glad that I decided to read it. I hope that you enjoy it as much as I did.