Rewriting habits for business success

Tom Brady was marching down the field against the Colts in 2006, there was less than a minute on the clock, and the Colts defense needed a stop to advance to the Big Game. The Patriots had the ball in the red-zone, and it seemed like scoring was imminent. History would lead you to believe the Patriots would score and win; however, if you glanced at the sideline, Colts Head Coach Tony Dungy had a calm and confident look on his face knowing his team would be victorious.

Tom Brady snapped the ball, and Colts Cornerback Marlin Jackson identified the sequence of cues he was coached to look for, realizing it would be a passing play. Jackson already was moving into position by identifying where the receiver would be through quick, deliberate, and decisive instincts. Brady threw the ball, but Jackson slid into place and intercepted the ball. The Colts went on to win the game, but one question was on my mind after watching that play. How did he know where to go?

Rewriting habits

Tony Dungy had been putting the pieces of success together since he started to work in the professional football league. When he was hired to the head coaching position, he knew that in every play on the field there was at least one player who performed his duty incorrectly. He believes it is because they are thinking about what to do next, rather than reacting. So how did he train his players like Jackson to predict plays?

Dungy knew that your brain can identify cues and subconsciously trigger you to react to certain stimulus. Rewriting habits to change your reaction and routine can greatly affect your success, and anyone from athletes to financial planners can utilize this strategy.

Einstein famously wrote, “insanity is doing the same thing over and over again and expecting different results.” If you were to look at new research on the brain and human behavior, however, it would prove that through routine and repetition you can get better and better.

The science behind the strategy

There is a region in your brain that is devoted to habit building called the basal gangliawhich allows you to build habits and create routines with ease. With Dungy’s system of identifying cues and building habits off of those cues, his players will react faster than the other team because the reactions have become second nature.

Instead of the players making decisions each play, they proactively identify cues that lead to routines they have practiced many times. It is almost as if they could predict what was going to happen by simply looking for a progression of cues. When you practice the same moves over and over again while pairing the routines with certain cues, you strengthen that habit loop. This helps you react to situations, rather than having to hesitate and make on-the-spot decisions.

What does this mean for financial advisors?

You can become someone who knows how to leverage your habit building skills. There are routines you perform every day at your job without thinking directly about them. Imagine trying to drive a car without habits and cues, it would be extremely overwhelming. Habits are something that can be rewritten and perfected if you know how to leverage them, and utilizing this to your advantage you can create more success for you as an advisor.

Studies show that willpower is a habit just like many other things throughout our life. It is like a muscle — the more you use it, the better you get. Do you wonder how people can go from having never entered a gym to a triathlete who quits smoking, drinking, and eating unhealthy food? You learn how to control one habit or routine and all the others become easier.

Think about how you can positively affect the life of someone you guide financially. If you can help them change spending habits to save a little more each month, other financial habits that take willpower will get easier. You can have a dramatic change on the life of your client by helping them identify small victories that lead to big changes in the long run.

Due to the innovative technology entering the financial services market, advisors have more insight than ever into the habits and routines of clients, and now advisors can use that insight to help them change the financial habits of the client. If you assist clients in visualizing how they will handle difficult financial choices, they will be prepared to make the right decisions when they arise. You are not just giving them advice; you are giving them the tools to develop positive habits throughout their life.

Additionally, think about your interactions with clients and how rewriting your own habits can benefit those interactions. If you have more efficient planning and sales habits, you will have increased situational fluidity and success. You will be able to identify cues from prospects and clients, and react immediately instead of hesitating to make a decision about how to handle the situation. Therefore, conversations will become more natural and genuine, making you more trustworthy and credible in the eyes of the prospect or client.

You do not have to be a professional athlete to leverage the habit loop in your daily routines. If you understand what cues trigger certain habits, you can change an entire routine structure. You will be able to create more positive habits for you and your clients, creating more successful client-advisor relationships.