Don't let your habits determine your choices
CHANGING HABITS
The Compounding Effect
Example of Compounding
To illustrate how compounding works, suppose $10,000 is held in an account that pays 5% interest annually. After the first year or compounding period, the total in the account has risen to $10,500 (Principal: $10000+Interest: $500). In year two, the account realizes 5% growth on both the original principal and the $500 of first-year interest, resulting in a second-year gain of $525 and a balance of $11,025.
The same principle applies for habits. When you make a small change to your habits and stick with it, that change will compound over time and have a big impact on your life.
Example: If you decide to read for 10 minutes every day, that might not seem like much. But if you do it consistently for a year, you will have read for 3650 minutes. That's around 60 hours!
The compounding effect is a powerful force. It can help you achieve your goals if you are patient and consistent. But it can also work against you if you make small changes that are not in line with your goals.
Example: If you decide to eat one unhealthy snack every day, that might not seem like much. But if you do it consistently for a year, you will have eaten over 365 unhealthy snacks. That's a lot of unhealthy food!
Ensuring consistency through Discipline
So, how do we create a new identity?
We focus on three things:
- Become aware of your current identity. What do you believe about yourself? What are your thoughts, feelings, and behaviors?
- Choose the identity you want to have. What kind of person do you want to be? What are your values? What are your goals?
- Act in a way that is consistent with your desired identity. This means taking small, consistent actions that support your new identity.
- Surround yourself with people who support your new identity. The people we spend time with have a big impact on our habits and our identity. So, make sure to surround yourself with people who support the changes you are trying to make.
- Celebrate your successes. When you take action that is consistent with your desired identity, take some time to celebrate your success. This will help you stay motivated and on track.
- Don't be afraid to fail. Everyone fails sometimes. But if you keep taking action, you will eventually succeed. So, don't be afraid to fail. Just learn from your mistakes and keep moving forward.
Tips to ensure consistency
A. Make it obvious - Make your desired habits as easy to start as possible. The more obvious your habits are, the more likely you are to do them.
B. Make it attractive - Make your desired habits as enjoyable to start and rewarding to complete as possible. The more attractive your habits are, the more likely you are to do them.
C. Make it easy - Reducing the barriers to starting your habit and making it as convenient as possible. The easier your habits are, the more likely you are to do them.
D. Make it satisfying - Finding a way to reward yourself for completing your habit and making sure that you feel good about yourself after you do it. The more satisfying your habits are, the more likely you are to do them again in the future.
A. Make it obvious:There are a few things you can do to make your
habits more obvious:
B. Make it attractiveThere are a few things you can do to make your
habits more attractive:
C. Make it easyThere are a few things you can do to make your
habits easier:
D. Make it satisfyingHere are some additional tips for making your
habits more satisfying:
The Four Laws of Behavior Change are a simple but
powerful framework for changing your habits. By following these laws, you can
make it easier to start and stick with your desired habits. Coach Ram This blog is inspired by the book 'Atomic Habits' by James Clear and includes my observations and experiences as a Coach |
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