Whatever you wish for this year, try to make it a habit


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In his book, The Power of Habit: Why We Do What We Do, and How to Change, author Charles Duhigg interviews an army major based in Iraq. As Mr Duhigg notes, the US military (or any military for that matter) is based on habit formation. It teaches soldiers how to think, shoot and communicate under fire.

The army major that the author interviewed told him that understanding habits was the most important thing he had learnt: “You want to fall asleep fast and wake up feeling good? Pay attention to your night-time patterns and what you automatically do when you get up. You want to make running easy? Create triggers to make it a habit.”

At this time of year, when most of us are making new resolutions or tiredly rehashing old ones – lose weight, get fit, exercise more, diet, be more productive, don’t procrastinate, don’t waste time on social media, get a new job, tell off your mean boss – it occurred to me that habit-formation was key to making any goal a success.

I used to think that if you wanted something enough, you would work to achieve it. But that’s not enough. During the long days of dogged effort in pursuit of a marathon or mere weight loss (although that isn’t a small goal), you need strength to persevere.

The word effort comes from the Old French esforz, which means power, strength, force. Habits, it turns out, can offer this kind of strength. The trick is to figure out how to make them your own.

One way is to trick the mind. This is what successful practitioners in Walter Mischel’s famous experiment with marshmallows did. These were four-year-old children, mind you. Those overseeing the experiment left the children alone in a room with a marshmallow and said that if they didn’t eat it, they would get two when he returned.

As has been widely documented, the children who succeeded in staying away from the marshmallows used distraction as a device. They sung to themselves, they curled up on the floor and played imaginary games, they tried everything to distract their minds from that sweet wonder existing a few feet away from them.

The same can apply to adults. When you want to avoid that late night snack that is calling to you from the fridge or cupboard, rather than tell yourself, “not to eat that cookie”, it may work better to distract your mind with other thoughts. Go watch some television or read a book. Go downstairs, away from the kitchen. Occupy the mind. Figure out your mental triggers.

What is it that causes you to reach for that extra doughnut that you don’t really need? What is it that causes you to break open that packet of crisps in the middle of the work day? What is the thought that makes you drink another can of Pepsi when you’ve been telling yourself that you will give up carbonated drinks?

Once you figure out the thoughts and movements that cause you to end up in a place where you don’t want to be, you can work on eliminating those triggers. My folly is my desire for crisps late at night. The house is quiet, I am alone, reading a book or watching television. Suddenly, I get hungry, not for rice or a carrot but for crisps. The way I got out of this habit was to sleep early and stop buying “Bhujia Sev”, which is a spicy Indian snack. Thankfully, the rest of the family finds them too spicy for their taste so I was able to make a unilateral decision.

And then there is increasing your willpower. Sitting up straight, interestingly, helps improve willpower. As does standing without fidgeting. Meditating at the same time everyday does wonders to your willpower. If you think about it, all these seemingly small and trivial activities have to do with controlling the mind.

Sitting up straight involves the effort of not slumping back on the sofa. Do it often enough and you are basically telling your body to “sit up and listen”. No wonder this has a parallel benefit in increasing your willpower.

In 2014, the best resolution you could possibly make could be simply this: whatever you wish for, make it a habit.

Shoba Narayan is the author of Return to India: a memoir

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”