7 Jun, 2022One Habit That Will Change Your Life Forever
“You’ll never change your life until you change something you do daily.” – John Maxwell
Are you one of those who have been desperately seeking a way to change your life? Are you sick and tired of being stuck and desperately wanting a jumpstart, a turnaround in life but are unaware of how to do it? Have you ever heard of the concept of compounding?
Compounding is defined in Investopedia.com as interest over interest, the effect of which is to magnify returns to interest over time. It works on the idea of adding on. Do you want to know how you can apply this concept in your everyday life to be the person you want to be?
Tune in and learn how compounding can amplify your ordinary life into an extraordinary one; be the person you have been dreaming of.
✅ Applying the Law of compounding can change your life.
✅ Compounding requires the knowledge of who you really want to be as well as the commitment and consistency to persevere.
✅ Compounding and tracking must go hand in hand to be able to reach your destination, your goal.
✅ Life can change once you have decided who you want to become, act, and can keep going.
✍🏼 2:59 The Law of Compounding
✍🏼 10:29 How David Brailsford brought the British Cycling Team to glory
✍🏼 22:16 The story of the magic penny
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About Pete Cohen: Pete Cohen is one of the world’s leading life coaches and keynote speakers. Hundreds of thousands of people from all over the world have been motivated and inspired by Pete’s presentations. He has professionally impacted the lives of thousands of people worldwide, including business executives, professional athletes, and everyday people. Pete focuses on the importance of closing the gap in our lives between where we are and where we want to be, both personally and professionally.
It’s then all about coaching you to remove the obstacles that are in your way and helping you install the habits of success.
Pete is the author of 20 published books, several of which have been best-sellers across the world, including Shut the Duck Up, Habit Busting, Life DIY, and Sort Your Life Out. He has also presented his own show on TV called The Coach and was the resident Life Coach on GMTV for 12 years.
Pete Cohen 0:00
One happy beautiful, amazing day. It's Pete Cohen it's the Mi365 podcast. Today's podcast is called One Habit That Will Change Your Life Forever. I'll see you after the theme tune.
Pete Cohen 0:36
Let's get ready to rumble. Happy beautiful day. Thank you so much for joining me for the podcast today. We're talking about one habit that will change your life forever. And I have to tell you one thing this is a subject that I probably would never ever get bored of talking about because I think ultimately our life just revolves direct round habits. You know, why do we do what we do? And I wrote a book in 2003 that was published in multiple languages in the world. I often think to myself how close maybe I could have been to have been a James clear, you know, the guy who wrote atomic habits, you know, what does it actually take to get a book that sells millions of copies because you know, the book I wrote and habit busting in 2003 It sold well over 100,000 copies. And it was published in multiple languages. I've got a copy of it in Arabic. I've got a copy of it in Korean. I remember when I got that copy of it, which was quite interesting, because I couldn't understand a word of it. And it was really interesting just to think, how close must I have been to really fulfilling my goals because yeah, you know, I want to really impact the lives of millions of people. In fact, in my work, how old was I in my 30s? I was on television pretty much. Two or three times a week had my own TV show. I often think to myself, how close must I have been to really just really hitting the big time and becoming really well known and international star hitting the big time? You know, like being Hollywood, not necessarily being in Hollywood, but just being I don't know, like Tony Robbins being someone like that. You know, why why haven't I got to that point? You know, is that a point I really want to get to? Well, it's interesting because there is a part of me that doesn't want to that there is a part of me most definitely. That doesn't want to be as famous as some of these people. And there's a few reasons for that. And one of them most definitely is. I don't want to take the credit for what other people do. I don't want to take the credit. I want people to take that credit themselves. Anyone who works with me knows that the greatest joy is when you see people standing in their own greatness. You see, you see people standing in their own success. You see people standing in their own. Compounding says that sounding in their own compost, but standing in their own compounding, because the one habit that will change your life is definitely applying the law of compounding or the law of aggregating. There is no more powerful law. I don't think it has to be one of the most powerful laws in the universe. The fact that you could do something over an extended period of time, and you could get incredible benefits from doing it. And I've never stopped. I've never stopped that's why our podcast is in the top 1.5% of podcasts. That's why you know in clubhouse I've been on clubhouse every single day. That's why I've been able to write 20 books. I'm incredibly consistent, and I know the power of compounding. There's there. It's just the most amazing thing and I really want to explain to people listening to this podcast, why it's difficult why it's challenging to compound. Right? Because listen, let me ask you, all of you a question. Let's just be let's be honest, right? Honesty is a great place to start. Are you where you want to be? Literally? Are you where you want to be? Now some people would say I'm exactly where I want to be. But no are you where you want to be with your health? Would you like I don't know less weight more weight? Would you like better relationships with yourself with others? Would you like to have a common mind? Do you like a more flow of energy?
Pete Cohen 4:28
Would you like I mean, I know so many people right now that want to do what they love to do. They want to be coaching they want to be teaching they want to be but you know what? Most people just really will not apply the law of compounding because the reality is I wrote this down this morning. I have to share this with you because I wrote down some words. I just thought that really important because most most of the things that we know that we need to do, they're mundane. They're unsexy. They're unexciting, they're difficult. They're daily dip there, but most people want the fairy tale ending without actually going through the story of hardship or the challenge. And I know that might sound really obvious to people. But ultimately, human beings, we tend to favor the easy path. We tend to favor a path of least resistance. So there's a part of us that I really do believe wants us to stay put. And I don't know any other more powerful laws as the law of compounding and I never forget. You know, as a sports psychologist, you you look, when you work with athletes, you're always looking for what exactly are these people doing? I mean, I was obsessed. I used to annoy many of the athletes because I'd asked them real personal questions around you know, what exactly did you do today? Because I can tell you it is about compounding and aggregating and it is about tracking. Without tracking you. If you're not tracking what you're doing, you're not looking at what you're doing. You might as well just look away. You might as well just give up. In most cases, most of the time, that's why we created an app. That's why we are now in the business of helping people track. What are they tracking? This is the thing. Well, they're tracking what they're doing, but they're also tracking where they're going they're going huntin right. They're going out. They're going out on a big, big mission, right. They're on a big, big mission right now to go out and pursue the person that they want to be. Now most of you have heard me talking about this before, but I think it's really really important. Where exactly do you want to go? Are you ready to go? Are you serious? Are you ready to go? Are you ready to go to a place that no man has gone before? Because if you're ready to go, I'm ready. To go with you. Where are we going? We're going bigger, we're going better. We're going faster. We're going stronger. Let's go
Pete Cohen 7:08
you got to get yourself in the right mood right. Are you back? Are you back? Seriously? Are you back? Because he'll be weird seriously if you decide to start changing your life it's and start doing boring things mundane things. You'll probably get bored and you'll give up
Pete Cohen 7:38
are you ready? Seriously come on
Pete Cohen 7:46
baby are you ready?
Pete Cohen 7:57
So you know we know these things right? I'm going to explain a couple of things which will give you a different perspective of this. So look, we all know you've all heard you know what happens when a space rocket, you know, takes off that apparently, most of the energy is taken and getting the thing off the ground. Right, just getting that thing going. But when it's off there, it's defying the laws of gravity. It's going to get motion. You know, we know that an object in motion stays in motion and what we're doing with people is literally getting them to the place where what they probably don't want to do or is most difficult for them to do eventually becomes the thing that they most want to do because it becomes a habit. We need to break free from the pool, right? This is where the space rocket has to break free from the pull of gravity most of us need to break free from the force of familiarity the force of you know being who we think we are and defending who we think we are at all odds. It's fascinating anything that you think that's absolutely fascinating that human beings just tend to be very, very predictable. You know, so seriously, who will you be this time next year? You know, for me, it's like the force. This is Star Wars
Pete Cohen 9:15
The dark side I think the dark side basically is what pulls us back the part of it that just wants us to hold on to what is familiar to us for whatever reason there can be a multitude of reasons. But I think we all know deep down there is a spirit within us that wants us to advance that wants us to get better that wants us to improve that wants us to grow that wants us to impact but you know what? None of that is actually happening for you. Luke Skywalker didn't pick up the lightsaber and defeat Darth Vader. He actually lost an arm or a wrist or whatever it was. If you haven't watched the film you don't you're not What are you missing out? I don't really know. But this story relates to us because we see the training that someone has put in the hard yards to get the results that they want. And the question is whether human beings actually want to do the work. Are you ready? Are you ready to apply the law of compounding like never before we can help you just download the Mi365 app. It's a start. So let's talk about the law of compounding. But before we talk about that, look how many of you have heard of the British Cycling Team from 1908 to 2003. All they'd ever done was win one gold medal. They've never won the Tour de France. And then David Brailsford came to the team and became the coach of the Great Britain cycling team and his whole thing was all about marginal gains, having intellectual honesty, to see where you are going wrong. And that's really the key. You've got to look at this with all eyes open, because you might want to get 1% better, but you need to realize that Where are you going 1% worse. David Brailsford, literally after five years of being with the team in 2008 60% improvement 60% of the medals 2012 London Olympics Olympic record seven world records how did he do it? He literally applied the law of aggregating of compounding.
Pete Cohen 11:47
It's just a question of whether you want to do the boring, the mundane, the unexciting the unsexy, doing that stuff over time that leads to the sublime. And I've seen it over and over and over again. But it's a very difficult thing to do. If you don't know the person that you actually need to be. If you're just doing this living on a hope living on a prayer, then good luck. And I want to just share with you a couple of people who have just got some amazing things to say about this because ultimately, what do we need? We need empathy. Who do we need empathy for? We need empathy for the person in the future that has the results that we have the results that we want. We know this we've spoken about this on podcast before but just because you've heard it once, it doesn't mean that you can't hear it again and just take a different view on it. Everything we do as human beings is driven by the future everything everything that we do right now. There is a drive for something for you that you're gonna have to do unless you're staying in bed all day. Chances are you're not there's something that that needs to be done right.
Pete Cohen 12:59
Are you ready? Don't stop me now. Everything we do is for the future. Everything is just where is your view? of the future? Because you'll be floating around in ecstasy of just the joy of the moment giving into temptation unless you know.
Pete Cohen 13:27
And there's nothing wrong with having a good time. There's nothing wrong with enjoying the moment but what will be your greatest ever achievement could it possibly be not what you've done, but what it will be? Because what will be will be unless you decide to do things differently. And most people neck this time next year will be just a very similar version of who they are just a bit older, a bit more unhealthier, probably a little bit more unhappy, possibly. Rather than stepping into the gap, stepping into the void, reinventing themselves what will be the greatest achievement? I think it's who we become. I don't think there's ever better any better achievement. If you've ever been to someone's funeral, someone who touched the hearts and minds of you. You know, I think about my parents and being at both of their funerals and speaking about them. When I think of who they became and what they did. It just fires me up and fires me up to know that I'm going there one day and I'll go up and smoke and I want to leave a man behind. What about you? You see, if you don't have a compelling relationship with the person that you're going to be then you'll just keep relating to who you are right now. And how are you right now? Right now most people most of the time. We are who we are. And we think that we can't do anything about it. It's called identification. And most of you know you've probably heard me say this before. The most people's identity is just basically how they see themselves. It's a solid set of ideas and beliefs as Dr. Joe Dispenza talks about, by the time you're 35 95% of who you are, it's just a set of conditioned responses and habits. And if you want to change, then you're going to come up against resistance 95% of you that is going to go what is the point of doing that? That's not you? I don't even know where that's going. I have no idea where that's going. So let's just stop. But then we get into enough pain that we're being woken up something happens which drives us forwards, but then we get comfortable, don't we as human beings, and we go back to what is familiar to us. This is Meg Jay, a clinical psychologist. Listen to what she says about our relationship. To our future self. If I can't convince you, maybe Meg J camp.
Meg Jay 15:40
So philosopher Derek Parfit said, we neglect our future selves because of some sort of failure of belief or imagination. So I'm going to say that again, because it's really important. We neglect our future selves because of some sort of failure of belief, or imagination. But that's a problem, because research shows that our brains think about our future selves, similarly to how they think about strangers. And that's where the empathy gap comes in. It can be difficult for us to care about a version of ourselves that we haven't met yet. Yet. Research also shows that if we find a way to close that empathy gap between our present selves and our future selves, we start to think more about what we could do now to be kind to ourselves down the line. So the idea here is just to try to get to know your future self.
Pete Cohen 16:34
Why don't even try not even try. Why try to get you get to know your future self. You have a future self. Come on, let's be brutally honest. How many of you you know who you're going to be tonight? Right? How many of you know that person? I've I said, What are you doing tonight? Oh, I you know, you can see. Do you know who you're going to be tomorrow? Next week? Yeah, of course. You know that person. What about next month, even if you were blind? I didn't realize that blind people actually see they just see in a different way. You know, we have these higher faculties and one of them is our imagination. But do you know the person you're going to be in six months or a year's time? Let's just be honest. You don't know that person. But you could get to know that person who is the greatest person you're ever going to get to know. I'd say it's the person that you choose to become. This, like Gandhi said, Be the change that you want to see in this world. Let's do it. Come on. Let's do it together. Let's create the ripple effect. Let's wake up to the possibilities. Let's get into training. Let's look at what we're doing that is serving us and let's look at what's doing that is stopping us. That's why we created the start one stop one we created it because we realize we know in behavioral science, we know that it's all very well deciding to do something but you probably need to stop doing something that's holding you back. Let's get excited about the possibilities that exist for us as human beings. Not just excited but enthusiastic because enthusiasm that can be maintained. It's just whether you want to apply the law of compounding over time and really realize that you know, my my mind. So this is the announcer embankment station who's telling people to be careful about when you're getting onto the tube onto the train, because there is a gap. We know there are gaps between where we are we are where we want to be. And what I have said what I have observed from from all of these years is one of the greatest reasons people are dissatisfied. One of the greatest reasons people are struggling is because they're not advancing. They're not growing. They're not evolving. They're just stagnant. And what is stagnant is dying. There is no in between, right there's only growth or death. That's I mean that's being caused, you're either growing, you're either nourishing, or you're not. And ultimately, it's our choice and I know it's so easy for people just to stay where they are to stay within their zone of familiarity. And I know it's really easy to think people can't change I know it's really easy for people to defend who they think they are. If you don't believe me tonight when you go to bed if you share a bed with someone get into their side of the bed and see what happens or just sleep on the other side of the bed yourself. If you're on your own and see what happens. Most people will go This isn't me. I don't do that. And you just go back to what you were doing before. I think one of the greatest reasons for people feeling dissatisfied with Life Is there not choosing life. And what is life, life is growth, is it not? And where would you like to make the most growth? And if you want that growth and you can identify with the growth and you all know, we all know that that's where the work starts. And look, how many of you remember right and if you were a child, you were given presents I remember as a child I could just got a few presents. And then I've observed with children today when you give them Christmas or birthday they get so many presents that they open one thing they don't even really look at it before then opening something else. And that's what's happening to all of us is that there's so many things that are grabbing and pulling on our attention where our attention is being sold to the highest bidder. All of the social media companies, the media outlets, that they want our attention. They want to take us away from what I don't know. But if you don't know where you're going and this is what I love. This is what Robert not John Maxwell. He's one of the most well known people in the field of leadership. He says, Never I wrote this down today. Never change your life until you change what you do daily. Right? You could never change your life until you change what you do daily. And what people do is found in their daily routines. If you want to sail your life in a new direction, you have to pick up the anchors of bad habits that are weighing you down. And we know because we you know we spoke we speak about this all the time. I mean, this podcast is completely dedicated to people that want to be in the 2% the 2% of people who are independent free thinkers.
Pete Cohen 21:02
As Bob Proctor who passed away recently said, you know, from an educator that he heard, he said 2% of people are independent free thinkers. 3% of people think they are and 95% of people would rather die than think for themselves. Rather than I want to take ownership of my life and if you do want to take ownership of your life, it's probably a really good idea to surround yourself with some, some people that may be you know, coming from the same place. It's not easy to build momentum but when you have it, you know when we created the stock one stock one app, what we noticed was that people were literally I mean even myself creating an app where you start something and stop something. There were a few days where my first start one was meditating every single day because normally I might meditate 545 times a week. But there were a couple of days I wouldn't have done it but because I've made the commitment to start one thing and start one thing and because I knew that there were other people around me they're doing the same thing using the app and you can see how people are performing on on the on the leaderboard. I thought you know what now I need to be an example not just to others, but to my future self. My future self was saying you need to do that. Look, you've all heard. Everyone must have heard of the law of aggregating and compounding the magic Penny. You know that story? You know, I'll give you 5 million in cash right now. Or I'll give you one per day and I've doubled every day for 31 days. Which one do you want? Well, if you didn't have much time to think about it, you'd probably say give me the 5 million. But the boring, mundane side of it if you didn't know where it was gonna lead. If you didn't actually know that if you did it for 31 days you'd have $10,737,418.24 P if you didn't know that, after five days, you'd go I've only got 16 pay. After 10 days you've only got what five pounds, five pounds. And then after 20 days what what have you got? 5000 after 20 days, and someone else has got 5 million. You'd give up right? That's just not fair. But where does the magic come? The magic comes in our ability just to keep going. That's what Brailsford did. And I know people that were in that cycling team and I know what happened. I know how he was very what some people might call anal about the 1% the marginal gains of moving the mattresses, that they were sleeping into the different beds when they moved from different hotels because they worked out that people would sleep better if they slept on the same type of mattress. It's just what lengths will people go I don't know. Because I'm not you. You know, I'm just excited about the possibilities that exist for all of us to advance and not to stay put and I'm looking for people that want to play that game and not play the game that they were playing before playing a different game with a different set of rules. But it all starts off the real magic you know
Pete Cohen 24:21
Pete Cohen 24:28
i can't cool down. You got me spinning. So what is abracadabra and round and round goes? Nobody bloody knows every time so you know there every time you call my name the magic is really deciding on who is that person that you truly want to become. Come on baby kiss me so you know if you ever watch me doing any live posts on Instagram or wherever, Facebook, LinkedIn, you'll see most of the time I've got all my YouTube videos you'll see I'm holding a magic wand because abracadabra means I create as I speak and I'm looking for people that want to speak their future speak who they are committed to becoming. Very few people will do it fairly few. But what better thing to announce to the world. This is who I'm committed to becoming. And this is much bigger than why you know Simon Sinek brilliant love it. Why? But a y that's not attached to the WHO because the Y can be as big as as anything it could be I've got a massive why but so what if you want to create a new personal reality with the same personalities stop, forget it. It ain't gonna work. You might as well just smash your head against the wall, because you'd probably have more of an effect of denting the wall rather than deciding I can have the biggest why in the world but who is it that I actually need to become? Who's that person because when you know who that person is you have to wake up to the reality of that is not you. It's not you. It's not you. It could be you. Of course it could be you. Of course it could be you would it be you would you want me to put money on that I don't know. I'm not you. But I've seen people do incredible things. Just going back to the topic right at the beginning. You know what I was talking about the fame and the fortune you know, I wrote a book before anyone else was writing books about habits habit bust in 2003. And then there are other books habits by Charles Duhigg or atomic habits by James clear that those books have sold millions of copies. My books have been sold millions of copies. It's not fair why they got the fame and not me. I don't know I don't know what the answer is to that. But I can tell you one thing I'm not going to stop. I'm not going to stop helping people because what I've seen people do is incredible. I've seen people reinvent themselves. I have seen people become completely new people. I have seen people have an Oscar winning performance in their life. I have seen people decide the person that they want to be just like Matthew McConaughey and go out and bring that person into the world. I have seen people that have decided who they're going to pursue who they are going to chase and I would love to help you become the Matthew McConaughey of your own life.
Matthew McConaughey 27:42
And to my hero. That's who I chase. Now when I was 15 years old, at a very important person in my life come to me and say who's your hero? And I said, I'm not gonna think about that. Give me a couple of weeks. I come back two weeks later, this person comes and says who's your hero? I said I thought about it you know it is I said it's me in 10 years. So I turned 2510 years later that same person comes bingo so your hero and I was like not even close. No, no, she said why? I said because my heroes me 35 So you see every day every week every month and every year my life my heroes always 10 years away. I'm never gonna be my hero. I'm not gonna pain that I know. I'm not and that's just fine with me because that keeps me with somebody to keep on Chase. So any of us whatever those things are whatever it is, we look up to whatever it is we look forward to and whoever it is, we're chasing to that I say amen. to that. I say all right, all right. All right.
Pete Cohen 28:40
He's so funny. You know, I listened to that every day. Every day I listen to that. Why? Because I just want to remind myself of who I'm chasing who I'm pursuing. I'm not pursuing who I am. I'm not satisfied with who I am. There's still more to do. There's still more to become I'm not buying into the crap of the world that says this is who I should be and this is the time to slow down. No, no no, no. I'll slow down when I'm dead. I've only just got started. What about you? What's your biggest takeaway? What's the one habit that will change your life forever? It's definitely applying the law of compounding and aggregating. It's working out what do you need to start doing? What do you need to stop? Doing and picking one of those of each and you can you can get involved in this, you know, because we are of creating a global movement of people all over the world who are deciding to go and pursue the person they want to be building a relationship to that person. That's why we created the stock one stock one app, and we're going to be adding some unbelievable features to this as well as the education My goal is to gamify people's development of self. So as they develop themselves and every time they behave in a way that is in keeping with the person they want to become. They get rewarded, they accumulate coins, of the things that they need, not just the coin for starting something and doing it but also stopping something. And once they've done that for a certain period of time, 30 days, they can unlock another start and stop as we continue to educate. But we're not just educating. We're inspiring people to act just to get better. What will be your greatest ever achievement in your life? Don't stop me now, because seriously, I'm having a good time. Thank you so much for listening to the podcast. I really appreciate you feel free to comment on this podcast. Feel free to share it. But let's go come on. Don't stop me now. I'm traveling supersonic. I want to make a supersonic person out of you. Let's get you in motion like never before. get you moving? Thank you so much for listening to the podcast.
Pete Cohen 31:06
Let's get you moving to the point where you just can't stop Take care. Thank you so much. We'll see you soon.