#137 Wellth Talks - Just 1%

In this episode of "Wellth Talks," Garry Kelly and Niall Leyden explore the transformative power of habits in health, wealth, business, and family life. Drawing inspiration from "Atomic Habits," they discuss how small, consistent improvements compound over time, the dangers of complacency, and the importance of regular reflection and accountability. Through personal stories and practical examples, they highlight how purpose-driven planning and steady routines can lead to lasting success, both professionally and personally. The episode emphasizes starting small, staying consistent, and making incremental changes for meaningful, long-term results.

Disclaimer: Niall Leyden is the Founder of Atlantic Wealth Management Limited, a firm that is regulated by the Central Bank of Ireland to advise on and arrange a range of financial products. Please note that Niall’s comments in this podcast are made in a personal capacity and are not recommendations or financial advice and do not form part of Atlantic Wealth Management Limited’s regulated activity.

Podcast Introduction (00:00:00)

GK Media and network intros; welcomes listeners to the Wealth Talks podcast.

Atomic Habits & 1% Improvement (00:00:17)

Discussing the book "Atomic Habits," the concept of 1% improvement, and dangers of complacency in business.

Good vs. Bad Habits in Life & Business (00:01:13)

Exploring incremental improvements, bad habits, and examples from sports and business.

Listener Feedback & Instant vs. Delayed Gratification (00:03:07)

Audience interest in habits; personal stories about instant gratification and breaking bad habits.

Positive Impact of Good Habits (00:04:09)

How implementing good habits improves energy, mood, and professional interactions.

Compounding & Wealth Management Analogies (00:05:06)

Compounding habits, snowball effect, and analogies with wealth management and long-term growth.

Defining Good and Bad Habits; Health & Morning Routines (00:05:50)

What good and bad habits look like; importance of health, sleep, and morning routines.

Hard Work, Complacency, and Team Improvement (00:06:37)

No silver bullets; hard work, avoiding comfort zones, and team strategies for improvement.

Weekly Improvement Sessions & Avoiding Complacency (00:07:38)

Allocating time for learning (e.g., AI), and always seeking to improve on past successes.

Client Feedback & Continuous Improvement (00:08:35)

Seeking client feedback, aiming for constant improvement, and setting clear targets.

Internal Business Reflection & SWOT Analysis (00:09:19)

Encouraging internal reviews, SWOT analysis, and applying habit principles to business and life.

Family Habits & Digital Detox (00:10:27)

Family routines, such as no phones after 7:00 PM, and the long-term impact of these habits.

Universal Conversations on Health, Wealth, and Habits (00:11:25)

Similar habit-related conversations across families and businesses; focus on small, consistent improvements.

Starting Small: Forming New Habits (00:12:28)

Advice on starting new habits with small steps, like rolling out a yoga mat or driving to the gym.

Applying 1% Improvement to All Pillars (00:13:25)

Applying incremental improvement to family, business, wealth, and wellbeing; avoiding New Year’s resolution pitfalls.

Consistency Over Intensity; Compounding Results (00:14:20)

Value of consistent small actions (e.g., 10,000 steps), and compounding effects in health and finance.

Financial Habits & Strategic Planning (00:15:14)

Optimizing savings, making small financial improvements, and the importance of strategic planning.

Purpose-Driven Planning & Regular Reviews (00:16:06)

Focusing on purpose, collaborative planning, and the habit of regular six-monthly reviews.

Accountability, Group Habits, and Continuous Learning (00:17:41)

Power of group accountability, regular meetings, and a passion for learning and improvement.

Final Thoughts & Sleep Habits (00:18:33)

Encouragement to improve by 1%; personal anecdote about sleep and the importance of rest.

Podcast Closing (00:19:24)

Lighthearted ending, thanks to listeners, and preview of next episode.