Why creating new habits is slowing your business down

Hi everyone, it’s Nishi at N-Accounting, I hope you’re having a great day. And in today’s video I want to talk about why creating habits in your business and your personal life is actually slowing your growth down. And I want to talk about this because I’ve seen a lot of stuff on YouTube, and I’ve spoken to a lot of coaches and business gurus over the years, and they do go on about creating the habits that your business really needs, and how to go about it. And they often talk about the difference between success and failure being about the business owners who are disciplined enough to actually create those habits. There are some things they are correct about, and there’s some things I don’t completely agree with. And I wanted to help people just look at it in a slightly different way.

So, essentially a habit is something you do on a regular basis. And because you do it on a regular basis, if it’s a good habit it will improve your life and your business. And it’s a bad habit it will actually be detrimental to your life and your business. There’s obviously two different types of habits there, and to be fair there’s probably habits that have no overall impact apart from to take away your energy, which I suppose is detrimental as well.

Obviously good habits are things like brushing your teeth, getting out of bed and making it in the morning. Bad habits could be things like smoking, and I suppose probably not following up on leads, things like that. The key thing though is a lot of business gurus, there’s a lot of books on this, I think there’s Atomic Habits, I can’t remember who that’s by, but that a book on the things that really successful business owners do. And I think there’s the Seven Habits of Highly Effective People. And it’s quite a good observation because it’s the seven things that highly effect people have in common. One of them is they get out of bed in the morning, and they get out of bed early so they can get stuff done before anyone else gets in their way.

So, obviously there’s been a lot of commentary and observations on it, but one thing I think most people don’t recognize is a human’s ability to form habits is finite. Your average person probably only forms a handful of good habits in their lifetime. And that is beyond a certain point. Obviously when you grow up you’re just indoctrinated into the habits society wants you to have, but then when you become a business owner it becomes a lot, lot harder to change your ways. So, what you’ve got to recognize is because you can only form a certain number of habits, you’ve got to be really mindful about the ones you put your effort into forming. Because let’s face it, forming a new habit, like going to the gym on a regular basis, like making sure you follow up on your leads every single week, making sure that you spend enough quality time with your staff every single week. Those aren’t easy things to do, especially when life and the rest of your business gets in the way.

What I want to talk about in this video is one of the most important things you should ask yourself before you even decide to form a habit is … because ultimately a habit is in a way changing your true nature. So if you’re not the kind of person that can easily follow up on leads, or if you’re not the kind of person who can always keep your social media and stuff up to date, you’ve got to ask yourself, “Well, what am I really achieving by investing in creating that habit?”

And the reality is if the answer to that comes back as, “Okay, well, because I’m going to keep my social media up to date myself, and that’s going to save me £400 a month on outsourcing it,” then by creating that habit you’re achieving that £400. But then what you’ve got to also say is, “Well, let’s say I do that on a regular basis, and I put all that time into creating that habit.” And let’s face it, when you first try and create a habit you don’t do it consistently all the time, it takes a little bit of time to pick it up. So you get this period where you’re putting the effort in but not necessarily getting the return. But if the answer is, “Okay, well it’s going to save me some money because I could have just outsourced it,” or, “It’s going to save me some money but I could have just instead of delegating it to a member of my team and having to hire a member of my team to delegate it too, I’m going to do it myself.” Then that’s not the kind of habit you want to form.

This is a really important one to think about. I think a lot of business gurus they say, “Okay, well you’ve got to form these habits. Get on your social media every day, get following up on your leads every single day.” And when you’re starting out your business and you’re flat broke and you’ve got nothing, then you’ve got to do it obviously because there’s no way to get your business off the ground. But if your business is at a point where you can actually afford to outsource, then you should really be asking yourself, “Well, is this the kind of habit I want to form? Do I want to be on my social media everyday when someone else could do it? Do I want to be doing all these other things that someone else could just do?”

The gist of what I’m saying is don’t invest in forming habits that you don’t need to, because a lot of the time you can outsource instead. If you found this video useful just remember to like, share, following, subscribe. And what I’d also like to invite you to is a strategy meeting where we talk about how much your business is currently worth, and with the right processes and structure in place what it could be worth, and help you understand the real potential in it. If you’re interested in that get in touch, go to our website and get in touch and book yourself in for a meeting with me. And I look forward to seeing you at the next video.

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