Start 2025 by Defining Your Identity

Align Your Goals with Who You Want to Be

Welcome to Business Fluency - a newsletter designed to enhance your understanding of essential business terms and concepts and provide you with practical strategies to boost your business and career prospects.

In today’s newsletter:

  • Start 2025 by Defining Your Identity

  • Word of the day: Prosperous

  • Thank you and Happy New Year

Start 2025 by Defining Your Identity

Align Your Goals with Who You Want to Be

In the weeks leading up to Christmas, we discussed setting goals for the new year. Today, I'd like to share a powerful technique that has helped me turn my goals into reality. This approach is simple, yet transformative: it's about giving yourself an identity.

I can't remember where I first came across this idea, but productivity expert Ali Abdaal recently discussed it in a video (link below). In the video, Ali mentions a fascinating study about voter behaviour. Researchers asked two groups of people slightly different questions:

  1. Will you vote in this election?

  2. Are you a voter?

The results were striking: people who identified themselves as voters were far more likely to follow through and vote. Why? Because identifying as a voter created a stronger sense of commitment and alignment with their actions.

How I apply this technique

I identify myself as a father, investor, businessman and wellness enthusiast. This is what it means in practice:

Father – Identifying as a father means I aim to act in ways that align with being a good parent, such as spending quality time with my family and preparing for their future. This includes considering financial commitments, like university tuition, and preparing financially for the future as my children face challenges like entering the housing market.

Investor – Calling myself an investor ensures I dedicate time weekly to learning about financial markets, managing investments, and prioritising both time and capital to grow wealth.

Businessman – Having run businesses for over 30 years, this is central to my identity. Currently, I see myself as a teacher, project manager, and writer. Even though these newsletters don't yet generate income, identifying as a writer motivates me to make time for them.

Wellness Enthusiast – Although I'm not a professional athlete or even particularly athletic, I take my health seriously. I walk daily, cycle, and do regular HIIT workouts. I also aim to eat healthily, avoiding overly processed foods.

Putting it into Practice

These identities shape how I allocate my time and resources, and you can do the same. Don’t let the labels intimidate you. For instance, if you invest 50€ monthly in an asset or a fund, you’re an investor. You don’t require permission to self-identify as such.

Significantly and deliberately, I use positive identities. Many people, however, seem happy to adopt negative identities, such as “I’m lazy” or “I’m a procrastinator.” Just as my positive labels encourage positive behaviour, negative labels reinforce negative behaviours.

You can take this concept further by incorporating adjectives to describe your identities. For instance, consider how a conscientious student behaves differently from a lazy student. Similarly, what would a consistent investor do?

As you review your goals for 2025, consider:

  1. What positive identities can you embrace to help achieve your goals?

  2. What negative labels can you let go of?

Your identity can be the key to unlocking your best year yet.

Ali Abdaal’s Video on Achieving Goals

Word of the Day: Prosperous

At this time of year, we often wish people a Happy and Prosperous New Year. But what does prosperous mean?

Prosperous - adjective - successful, often by earning a lot of money.

"Our company had a prosperous year, achieving record sales and expanding into three new markets."

The word prosperous is derived from the verb to prosper, which has a broader meaning than financial success. For example:

This plant prospers in this part of the garden – there is an ideal balance of sun and shade.

It’s important to note that prosperous can also refer to a state of overall well-being, growth, and success in various areas of life, such as health, relationships, and personal fulfilment.

Thank You and Happy New Year

Thank you again for your support this year, whether by reading these newsletters or taking Business or Cambridge English lessons.

I wish you a happy and prosperous 2025!

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Until next Wednesday - have a great week!

Iain.

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Disclaimer:

This newsletter is for informational and educational purposes only and should not be construed as financial advice. The information contained herein is generic and does not take into account your individual financial circumstances. You should always consult with a qualified financial professional before making any investment or financial decisions.

Additionally, the authors and/or publishers of this newsletter may hold investments in securities or other financial instruments mentioned herein. These are included for illustrative purposes only and should not be taken as a recommendation to buy or sell such securities or financial instruments.