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Summary

📚 3 main insights

  • The compound effects
    • Leverage compound effect to attain levels you never thought possible to achieve. Small progress on a consistent basis produces exponential results.
    • If you improve of 1% each day during a year, you will become (1.01)^365 better after a year that is almost 38x better. Conversely, if you are 1% each day, you will be 1/2 worse after only 70 days and will decline to almost zero within a year.
    • Thus, compound interests do not apply only to money savings, they do apply to honing a skill.
    • Einstein once said: "The compound interests are the 8th wonder of the world"
  • The harmony between the identity and the habit:
    • it will be much easier to stick with the habit if you identify yourself with the habit you are trying to get. Indeed, if you consider yourself as a good runner, it will be much easier to go running on a regular basis even when you feel less like it.
    • In other words, not going out for a run would be reconsideration of your own self and of what you consider are your own values. And this is something human beings want to avoid as much as possible.
  • Democracy with the self
    • it is not because you missed out once or a few times on your habit that you should consider it to be over. Indeed, if one day you “lose a vote” on your habit, that does not mean you are losing, because what you need is a “majority or votes” at the end of the year.

🗣 Top 3 quotes

“Habits are the compound interests of self-improvement. The same way that money multiplies through compound interest, the effects of your habits multiply as you repeat them. They seem to make little difference on any given day and yet the impact they deliver over the months and years can be enormous”
"Your habits shape your identity, and your identity shapes your habits."
"You do not rise to the level of your goals, you fall to the level of your systems."