The key to changing habits: understanding why we do what we do…

There’s no denying the unique challenges faced by women entrepreneurs. Juggling the responsibilities of running a business, being a mother, and maintaining a fulfilling partnership can be incredibly demanding. In this blog, we will delve into the insights from Charles Duhigg's groundbreaking book, "The Power of Habit," to uncover the why behind our actions and provide actionable steps for transforming our habits to drive success in both business and personal life.

Understanding the Habit Loop

Duhigg's research reveals that habits operate within a “habit loop” consisting of three key components: cue, routine, and reward.

For busy businesswomen, recognizing and dissecting this loop can be a powerful tool for change. Our “habit loop” can be deeply ingrained, affecting everything from managing finances to employee relations. Recognizing and dissecting these loops is the first step toward positive change.

1. Identifying the Cue

For many women entrepreneurs, the cue to perform certain habits often arises from the demands of the business, family, or personal life. It could be the ding of an email notification, the chaos of the morning routine, or the quiet moment after everyone else has gone to bed. Recognizing these cues is crucial in initiating any habit transformation

The Cashflow Conundrum:

Businesses often grapple with cashflow challenges. It's crucial to identify the cues that trigger detrimental financial routines. Is it a reluctance to chase late payments? Perhaps it's a fear of raising prices? By pinpointing these cues, we can reframe our routines to adopt proactive financial strategies. Implementing payment reminders, exploring alternative revenue streams, or renegotiating vendor contracts can all lead to a healthier bottom line.

Balancing Act:

Juggling business ownership, motherhood, and partnership requires a delicate equilibrium. The cue might be a packed schedule, and the routine could involve overcommitting to tasks. The reward? A fleeting sense of accomplishment amidst exhaustion. It's time to recalibrate. Consider delegating non-essential tasks, setting realistic boundaries, and prioritizing self-care. When you are well-rested you are far more effective in all your roles.

Time, Our Most Precious Resource:

Time scarcity is a common struggle. The cue may be a perpetually overflowing to-do list, leading to a routine of constant multitasking. The reward might be a temporary sense of accomplishment, overshadowed by long-term burnout. Let's reframe this cycle. Embrace the power of self-management techniques, delegate tasks effectively, and learn to say 'no' when necessary. By focusing on high-impact activities, you can reclaim your time and productivity.

Navigating Employee Relations:

Employee management can be a complex dance. Cues may arise from conflict avoidance, leading to routines of passive leadership. The reward? Temporary peace at the expense of long-term team growth. It's time to embrace a different approach. Foster open communication, provide constructive feedback, and empower employees to take ownership of their roles. The ultimate reward is a motivated and engaged team that propels the business forward.

2. . Analyzing the Routine

The routine is the actual behavior triggered by the cue. For instance, it might involve immediately attending to every email that comes in, regardless of its urgency, or habitually checking social media during breaks. By examining these routines, we gain insight into which habits are serving us and which are hindering our progress

3. Uncovering the Reward

Every habit is driven by an underlying reward, which is what reinforces the behavior. It could be a sense of accomplishment, a brief moment of relaxation, or even a fleeting distraction from stress. Understanding the rewards allows us to identify whether a habit is genuinely beneficial or if it's providing a false sense of satisfaction

4. The Power of Keystone Habits

Certain habits, known as keystone habits, have the potential to trigger a chain reaction of positive changes across various aspects of our lives. For businesswomen, identifying and cultivating keystone habits can be a game-changer.

• Time Management: Implementing a structured daily routine can create more time for crucial tasks in both business and personal life. By prioritizing activities and utilizing time-blocking techniques, you can regain control over your schedule.

• Effective Communication: Cultivating strong communication skills not only benefits business operations but also strengthens relationships with family and partners. Actively listening, providing constructive feedback, and expressing yourself clearly are essential habits to develop.

• Self-care and Well-being: Prioritizing self-care, whether through regular exercise, mindfulness practices, or adequate sleep, is crucial for maintaining the energy and focus needed to succeed in both business and personal endeavors.

• The Cashflow Conundrum:

  Small family businesses often grapple with cashflow challenges. It's crucial to identify the cues that trigger detrimental financial routines. Is it a reluctance to chase late payments? Perhaps it's a fear of raising prices? By pinpointing these cues, we can reframe our routines to adopt proactive financial strategies. Implementing payment reminders, exploring alternative revenue streams, or renegotiating vendor contracts can all lead to a healthier bottom line.

Breaking Negative Habits

As women entrepreneurs, it's essential to recognize and address habits that may be holding us back. Whether it's procrastination, self-doubt, or a reluctance to delegate, taking proactive steps to break these negative patterns is key to unlocking our full potential.

• Mindful Awareness: Start by acknowledging the negative habits without judgment. Understand the cues, routines, and rewards associated with them.

• Replace with Positive Alternatives: Once you've identified the negative habit, seek out a positive behavior that can replace it. For instance, replace procrastination with a structured task list and specific deadlines.

• Accountability and Support: Enlist the support of a mentor, coach, or peer group to hold you accountable for the changes you're striving to make. Share your goals and progress, and seek feedback and encouragement

Conclusion

Now armed with a deeper understanding of our habit loops, we have the power to rewrite our narratives. By consciously reshaping our routines and embracing positive habits, we pave the way for sustainable success in both our businesses and personal lives. Through the cultivation of keystone habits, and the intentional breaking of negative patterns, you can not only enhance your own effectiveness but also create a positive ripple effect within your business, families, and partnerships. Remember, change begins with a single habit, and with dedication and persistence, we can shape our destinies as empowered and successful women in both business and life.