Yep, it’s that time of year again - when we’re setting New Year’s resolutions and intentions for the year. Maybe you’ve chosen a word of the year? Whether New Year’s resolutions are a yearly tradition or something new, let’s explore how they work and how to make them work better for you.

Do New Year’s Resolutions Work?

If you’ve ever set a resolution that you’ve forgotten about (or given up on) after a couple of months, you’re in the majority. The consensus is that New Year’s resolutions tend to fail, and that’s accurate. Yet there’s a lot of value in setting them, so don’t let it discourage you. And, of course, there are ways to improve your likelihood of being successful at them. In a study cited by The Washington Post, 4 in 10 adults in the U.S. set New Year’s resolutions. About 16 percent kept all their resolutions, and about 44 percent kept at least one. That’s actually pretty good odds!

Let’s be real for a moment though. There’s so much pressure at the beginning of the year to set new resolutions and to go after them with unlimited energy and enthusiasm. So, sometimes, we push the limits of what we can achieve and set really ambitious resolutions that don’t work for us - at least not for long! So, yes, resolutions DO work; however, they work better when you think of them as goals and you weave some self-compassion and forgiveness into them.

Honestly, if you haven’t made a specific “New Year’s Resolution” yet, maybe hold off on it for a bit and then make a goal for yourself when we’re a few weeks into the year. It won’t hurt you in the slightest!

How Do Resolutions Work?

Resolutions work when they’re set at the right time and with the right mindset. You’re also more likely to succeed at your resolutions if you set smaller goals for yourself. For instance, after we’ve indulged in all of the holiday goodies, Christmas cookies, egg nog, turkey, ham, roast, and mashed potatoes, we’re often ready to feel less full. However, a severe diet right after the holidays isn’t usually helpful or supportable. Instead, setting an intention to start lunch and dinner off with a vegetable to help balance your metabolism IS doable. So keep things realistic, my friend.

It’s also best to set a New Year’s resolution that’s actually something you’ll enjoy. If, for example, you want to touch base with your business finances each week, consider doing it in a way that you’ll love. Light a candle, put on your favorite music, brew your favorite warm beverage, and make it a joyful experience. You’re likelier to keep it up if you bring pleasure into the experience!

Setting New Year’s Resolutions

When we set New Year’s resolutions, we experience the “fresh-start effect” in full force. As psychology professor Katy Milkman at The Wharton School of the University of Pennsylvania states, “People tend to think about life as if they’re characters in a book,” so the New Year presents a “new chapter” in our life stories and a chance to start over.

If you want to set New Year’s Resolutions, be sure to commit to the resolution. Be realistic about it - aim for $500k in your business in a year if you’ve only ever hit the $200k mark; a million-dollar year may not be realistic for you. And set milestone goals along the way. For instance, how much money do you need to make per quarter, or per month, to make $500k in the year? Aim for those smaller goals to stay on track for success.

Be sure to reward yourself when you’re holding to your New Year’s Resolutions too! I mean, it’s always a good idea to treat yo’self! 😉

If you’re more interested in capturing the essence of the New Year, listen to the podcast episode below!