It’s Time to Talk About New Year’s Resolutions…
“As humans we desire to change in order to make ourselves better and happier.”
Incredibly, 2023 is almost over! The year is coming to an end, the holidays are immediately in front of us, and 2024 is on the horizon. Most people’s minds are justifiably on the holiday spirit and celebrations, but I’d wager that a few are also thinking ahead to their New Year’s Resolutions. Every new year, millions of people set a resolution, and yet only about 15% [Economic Times] of those resolutions are realized. Why? The answer is fairly simple. First, change is hard. Second, change isn’t linear, and expecting it to be almost always leads to failure. Let’s discuss.
Change is Hard
“Behavior change is complicated and complex because it requires a person to disrupt a current habit while simultaneously fostering a new, possibly unfamiliar, set of actions. This process takes time – usually longer than we prefer. Something as simple as drinking an extra cup of water a day can take an average of two months to become a consistent, habitual behavior [emphasis added].” [Accelerate]
Making a change like “becoming healthier,” requires new habits. New habits require constant, consistent repetition of a behavior or behaviors over a period of time. No matter who we are, it’s just not possible to wake up one morning and be different.
Change Isn’t Linear
“...one of the primary influences for successful behavior change is the way setbacks and lapses are managed [emphasis added]. We have all likely experienced the discomfort of committing to something and then not following through. It is common during these moments to be self-critical and perceive that we are not competent enough or we do not have the willpower to achieve our goal.” [Accelerate]
Have you ever decided you’d “become healthier,” but missed a day or three at the gym? You’re not alone. Quit going to the gym altogether because you missed those days? You’re also not alone in that.
As simple as the explanation is, things are not so black and white. The psychology of change I’m describing is about how we operate instinctively. As humans we desire to change in order to make ourselves better and happier. As entrepreneurs and organizational leaders, we desire to change and grow in order to achieve business results, have impact, and to build better and stronger communities.
However, juggling the demands of a small business or nonprofit can mean that planning gets kicked down the road. As an aspiring or early stage entrepreneur, it’s easy to set lofty goals without good measures of success, or to have a good idea without understanding our motivations. When improvement is what we want, there’s a good case for some simple planning.
At EJ Advisors, here’s how we’re helping clients (and ourselves) plan for 2023.
Define a purpose with realistic expectations.
Set a vision and understand the purpose of your goals. Setting what seem like good goals for the wrong reasons can set you up for failure from the beginning. Setting good goals for the right reasons provides you with a reliable north star as you set off to achieve those goals.
Create an accountability and support structure.
Rarely do we accomplish worthwhile goals on our own. Individuals need sounding boards and feedback, and teams have to distribute roles and responsibilities. Change and improvement become much more realistic with a little bit of help from others.
Track and review progress regularly and consistently.
Define what success looks like in quantifiable terms, without over engineering or overshooting. Establish a measurement cadence, understand the data, and use what it’s telling you to adjust your plans and proceed with confidence.
Make an action plan.
It’s tempting to try and go from A to Z, without stopping at B through Y. An action plan seems like a no-brainer, but it needs to contain the right steps at the right increments and pace. Otherwise, you may find yourself right back where you started.
Manage self-doubt.
There will inevitably be setbacks as you try to make any change or improvement. Plan for this from the start, and have a plan for getting back on track.
By thinking about your resolutions ahead of time, committing to them, and taking a few key steps, it’s easier to concentrate your efforts, understand exactly what you need to do to be successful, and take action to achieve your goals.
Sometimes it’s compelling to be practical!
Let us help you with your entrepreneurial or organizational New Year’s Resolutions!
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