hey guys it's Theodore and before I start this video I want to let you know
that there's an actionable worksheet PDF in the description below that can help
you apply the concepts that you learn in this video there's actually a PDF for
every video in practical growth academy anyways there's also a link to get my
top ten favorite books because a lot of people have been emailing me lately
about them so go ahead and check them out now the compound effect is a great
book when getting started into self-development because it lays the
foundation for understanding how your small choices can end up making very
large impacts on your life so the first big idea I want to talk about is
something he calls the magic penny in the book Darren Hardy explains the idea
of compound interest using the magic penny idea the basic idea is that when
looking at these two options which one looks more attractive three million
dollars right now or a penny that doubles in value every day for 31 days
you might have heard this before and if you haven't you probably would have
picked the three million dollars just because you don't know the power of
compounding interest after 31 days the penny choice is now worth five point
three million dollars almost double the first option we can compare this growth
to ourselves for example let's say you eat a small chocolate bar every morning
for around three years if the chocolate bar is around 125 calories and you do
nothing extra to your diet or your exercise program you would gain an extra
thirty nine pounds in those three years because 125 calories times 365 days
times three years then you take that and you divided by three thousand five
hundred calories per pound you get 39 pounds now it's really crazy
to think about it but this principle is at play in every minute of our lives
imagine if your write a small ten pages a day for three years what would that be
that's around forty three books in three years by only reading ten pages a day
and that is life-changing in fact some experts say that the
minimum amount of books to read to become more knowledgeable at a topic
more than 90% of the general public is just for books after reading forty three
books you'll be ranking with the experts in less than three years and the problem
oh is that because it's easy to do it means it's also easy not to do right so
the next big idea I want to talk about is about owning 100% now this is kind of
a paradox since these small daily choices are easy
to do they're also easy to skip hey I'll read 10 pages tonight or workout
tomorrow morning and burn off this donut I'll get that project done next week we
say stuff like this all the time our brain over estimates how long
tasks will take and because of this we will procrastinate and put it off Darrin
the author says we're all self-made men and women but only the successful people
take credit for it if you're dead broke with no friends it takes a lot of
character to say I'm here because of my choices and the decisions that I've made
up to this point well when you have the humility to actually admit that and say
since I've got here I can get myself out of this hole then you can start to get
back on the right track that you were aiming for once you own a hundred
percent of your responsibility and your situation you can start to understand
that you have more control of your life than you actually think and your
decisions will matter more to you so big idea number two is to own 100% the idea
number three is small choices once you have accepted that your life is 100%
your responsibility you can start to commit to small easy choices I'm talking
about stuff like I'm gonna save $120 every month until the end of the year
I'm gonna have dinner with my father once a month I'm gonna go to the gym
twice a week for a month these small choices really help 120 dollars every
month for 20 years with an average interest rate compounds to over $50,000
and also imagine how many more memories you'll have with your family members and
the loved ones if you commit to seeing them at least once a month for a lot of
people it's just around the holidays and also imagine how much longer you will
statistically be able to live if you go to the gym twice a week opposed to never
the next big idea I want to talk about is about the law of attraction and how
it really works now in the self development niche I get asked all the
time about my own personal opinion of the law of attraction and most people
understand it it's kind of like if I sit here and think about it all the time
then I'll get it like if I sit on the couch and think
about a million dollars then I'll get a million dollars I'll win the lottery or
something well that's not true it's not how it works so your brain is a highly
sophisticated organ that consumes billions of sensory data groups every
day and to prevent it from going insane and to make your life easier to live it
forgets a very large amount of all of that information however your brain will
pick up on relevant things so if you've been thinking about getting a new job
it'll pick out information that it thinks is relevant to getting a new job
for example you might see an advertisement for a job recruitment that
you would have otherwise dig Nord but your brain picked it out and made
you look at it have you ever learned a new word and you hear it four or five
times the next week even though you've never heard that word
this is the reason why if you want to put the law of attraction to work or
rather your brain to work for you fill it with things that you want more of in
your life make sure that if you're trying to lose weight you write down
your goals you start listening to people who talk about how to lose weight and
you read books around the same topic and because of this new information your
brain will remind you next time you're about to have Italy eat some candy so
the law of attraction is just a little trick to help your brain make living
your life and getting to your goals easier it's not some magic thing that
you can sit in your house and wish up something you have to go and put in the
work but the law of attraction makes the work more important the last idea is
garbage in garbage out another huge idea I found in this book
which actually takes up a couple of pages is something called garbage in
garbage out it basically means if you're consuming
negative information you're eating low-quality food and you're hanging
around toxic people your life quality is going to suffer it just makes sense
instead pick carefully what kind of information that you consume daily cut
back time with those talks and friends and educate yourself about your diets
your macronutrients and food quality remember that the compound effect will
magnify what you consume over time so 30 minutes of dramatic news each night will
drastically change your thoughts but so will 30 minutes of reading a new book so
the big idea here is to choose carefully also again you can check the description
links below for a free actionable summary and also a list of my top 10
books you just go to that page enter your email and I'll send them right to
your email before you in this video I want to let you know that this video
right here is a shorter version of the entire full summary with in practical
growth Academy they might be wondering what is practical growth Academy
practical growth Academy is a private mastermind group where I add animated
book summaries and actionable worksheets every week so that you can better
remember and apply the principles that you learn in these books plus I also add
monthly mini courses journal outlines and you get access to a premium discord
server and if you join up today I will send you a $20 Amazon gift card and
that's really cool because it only costs 17 dollars a month to join which is
technically less than the price of an average book and you can cancel anytime
which basically means your first month is free right now there's a lot more
that you'll get access to including the full psychology of beliefs course when I
finish creating it so to learn more click the link in the description about
practical growth Academy thank you guys so much for watching and let me know if
you want shorter summaries like this one on the channel see you in the next video