Overcome procrastination – today

Chronic procrastinators are their own worst enemies, says Timothy Pychyl, associate professor of psychology at Carleton University in Ottawa, who studies procrastination.

“It affects your ability to work,” he says, “leads to feelings of guilt, stress and anxiety, and can seriously damage your personal and professional relationships.”

Procrastinators postpone tasks that make them feel uncomfortable in favour of things they enjoy, such as checking email or surfing the web.

“They actively seek distractions,” Pychyl says, “especially ones that don’t require much commitment, as a way of coping with negative emotions such as fear of failure.”

Procrastinators routinely lie to themselves, he adds: “They tell themselves: ‘I’ll feel more like doing this tomorrow’ or ‘I work best under pressure.’ In reality, very few people are glad they waited. It’s just an excuse.”

While top financial advisors are unlikely to be chronic procrastinators, says Rosemary Smyth, president of Victoria-based Rosemary Smyth & Associates, which provides business coaching for financial advisors and managers, it’s a common problem among rookies.

“Younger advisors experience fear of rejection,” Smyth says, “which is why they dislike cold-calling. Some get very good at coming up with excuses.”

According to Pychyl, the first step in overcoming procrastination is self-forgiveness.

“We studied students who procrastinated while preparing for an exam. Those who ‘forgave’ themselves were less likely to procrastinate again than those who didn’t. Self-forgiveness helps [you] move past the guilt.”

Here are some steps to help you overcome problems with procrastination:

– Don’t give in to your feelings

Recognize that you can have negative emotions without acting on them, says Pychyl: “Don’t walk away, and don’t give in to ‘I’ll feel more like doing it tomorrow’.”

Pychyl suggests you create an “implementation intention” that says, “If this, then that.”

For example, he recommends thoughts such as: “I’ll go straight to my desk after breakfast” or “Even if I want to run away from my work, I’ll stay in my chair for an hour.”

– Just start it

Beginning a job changes your focus, Pychyl says: “When someone avoids a task, they experience stress and negativity. But, once they start it, those negative feelings diminish dramatically.”

Don’t think about the whole task; just think about starting it.

– Reframe the task

If you’re facing a big job, break it down, Smyth says: “For instance, if you have to contact a lot of clients who made big tax payments, break it into manageable numbers, such as 10 a day.”

– Reduce distractions

For important jobs, have only one computer application running at a time, if possible. Shut the office door and explain to your co-workers that you need quiet. If necessary, use earplugs.

– Strengthen your willpower

Research indicates that willpower is like a muscle, Pychyl says. You can exhaust it; and, when you do, you lose the ability to regulate your behaviour.

“One immediate way to strengthen your resolve is to remind yourself of your values,” he says. “This process of self-affirmation bolsters your reserves of willpower.”

– Practice mindfulness

“Mindfulness” is defined as paying attention on purpose, in the present moment, without judgment. Mindfulness meditation, Pychyl says, can be a powerful tool for dealing with chronic procrastination.

“Research and clinical evidence show that mindfulness meditation works,” Pychyl says. “Being mindful allows us to control our attention, which is the first step in self-regulation.”

– Celebrate your successes

Reward yourself when you’re successful by taking a break, going to a movie or doing something else you enjoy.

Dealing with indecisive clients

Clients who chronically procrastinate are called “indecisives,” says Rosemary Smyth, president of Victoria-based Rosemary Smyth & Associates.

“They can’t decide because the downside of each option blinds them,” Smyth says. “There usually comes a point when it’s too late and the decision makes itself.”

Here are some suggestions to provide motivation:

Stay calm. Help the client relax and think clearly by saying, “I know you haven’t decided yet and you have your reasons. Let’s review the choices together.”

Ask. Find out what is preventing a client from making a decision, says Joanne Ferguson, president of Advisor Pathways Inc. in Toronto. Does your client need more information? If so, what?

“By asking questions that can’t be answered ‘yes’ or ‘no’,” Ferguson says, “you can draw out their fears and concerns.”

Note deadlines. Inform your client of key time limits, Ferguson says: “Show them how one decision can help with the next, and so on.”

Strategize. Help your client find a strategy to make a decision that works for him or her.

© 2013 Investment Executive. All rights reserved.