Top 5 Life Performance Articles for May

In summary create habits (book) and develop your relationship currency (self-development) to support the magic (podcast) in banking!

Enjoy!

1. PODCAST: There is magic in a bank that works- TheBanker

Recommended Podcast of the Month: There is magic in a bank that works (77 min). The past 20 years have seen an explosion of cool tech, shiny digital apps and progressive business models, not all have migrated successfully to traditional banking. Have we lingered too long in the glittering halls of cutting edge? Have we forgotten the real goals of reliable, trustworthy, and functional banking? Is it time to find the real magic in building a bank that works?

• Chapter 1 — ‘What’s your earliest memory of tech and banks?’
• Chapter 2 — Learning to love legacy and finding lessons in the Middle Ages
• Chapter 3 — ‘Young ladies’, canaries in coal mines, and backing innovation before ‘we called it innovation’.

The Banker Podcast: Functional Banking Magic

2. BOOK: Atomic Habits by James Clear

James Clear is a writer and speaker focused on habits, decision making, and continuous improvement. He is the author of the #1 New York Times bestseller, Atomic Habits. The book has sold over 7 million copies worldwide and has been translated into more than 50 languages. Atomic Habits is the most comprehensive and practical guide on how to create good habits, break bad ones, and get 1 percent better every day. I do not believe you will find a more actionable book on the subject of habits and improvement.

The Book in 3 Sentences;

1. Real change comes from the compound effects of hundreds of small decisions or habits that over time accumulate to produce remarkable results.
2. To achieve our goals we need to first build systems made of single processes and habits that will take us to our goals.
3. Habits are the compound interest of self-improvement — it’s the good and bad things that we do each and every day that compound over time to create real change.

There are 4 laws of behaviour change that we can use to create good habits and break the bad ones. A single habit is made of a cue, craving, response, and reward. And these components are formed according to the 4 laws of behaviour change:

1. Make it obvious — the habit needs to be effortless for us and require no active thinking.
2. Make it attractive — if the habit is unattractive we likely won’t have enough willpower to do it over and over.
3. Make it easy — the less friction there is between you and the habit, the greater the chances are that you’ll actually do it.
4. Make it immediately satisfying — our brain rewards immediate returns so it’s good to come up with something simple that brings us joy right after we perform our habit.

Behind every system of actions is a system of beliefs — your habits are how you embody your identity;

• The goal is not to read a book, the goal is to become a reader.

The first mistake is never the one that ruins you. It is the spiral of repeated mistakes that follows. Missing once is an accident. Missing twice is the start of a new habit.

3. ARTICLE: In conversation: The new CFO mandate — McKinsey

A recent McKinsey survey shows that the CFO’s role is rapidly evolving — expanding in scope, requiring new capabilities, and demanding greater collaboration with C-suite peers.

Survey suggests there are more digital transformations on the horizon where CFOs can play a radically different role.

• Building the right bench, including folks with data science and engineering capabilities
• Many CFOs are placing more emphasis on linking finance and strategy in the budgeting cycle.
• A digital finance function requires new skills and talent, so one of the most important activities for CFOs now is proper talent management.
• The mindset seems to be “I manage my part, you manage your part.” But it’s clear from the survey that CEOs want CFOs to lead more transformations.

Opportunity for the CFO to have disproportionate impact, becoming almost a co-pilot of the business with the CEO.

4. SELF-DEVELOPMENT & WELLNESS: How to find the person who can help you get ahead at work — TED talk

The workplace is often presented as a meritocracy, where you can succeed by putting your head down and working hard. Wall Street veteran Carla Harris learned early in her career that this a myth. The key to actually getting ahead? Get a sponsor: a person who will speak on your behalf in the top-level, closed-door meetings you’re not invited to (yet).

There are two types of currency in any environment: performance currency and relationship currency.

1. Performance currency is the currency that is generated by your delivering that which was asked of you and a little bit extra.
2. Every time you deliver upon an assignment above people’s expectations, you generate performance currency.
3. Relationship currency is generated by the investments that you make in the people in your environment.
4. You cannot ask someone to use their hard-earned personal influential currency on your behalf if you’ve never had any interaction with them. It is not going to happen.

Learn how to identify and develop a productive sponsor relationship in this candid, powerful talk.

5. PRODUCTIVITY: 8 Ways to Read (a Lot) More Books This Year — HBR

The importance of reading is completely undeniable. If you’re not the biggest fan of books, that’s ok! You’re not alone! But before you shut down books and reading all together, challenge yourself by stepping out of your comfort zone, and you may even surprise yourself with a newfound passion. You’ll be amazed to see the places reading can take you. Finding it difficult to start then create a habit and start small — 10 pages or 10 minutes a day.

Here are 8 tips to get you started;

1. Centralize reading in your home
2. Make a public commitment
3. Find a few trusted, curated lists.
4. Change your mindset about quitting.
5. Take a “news fast” and channel your reading dollars.
6. Triple your churn rate.
7. Read physical books
8. Reapply the 10,000 steps rule.

“I read nonfiction in the mornings, when my mind is in active learning mode, and fiction at night before bed, when my mind needs an escape”