What do hedge fund managers really have in common with
engineers? And why would someone who advises Wall's Street elite want to
develop a dialog with a community of technical professionals? In 8 Ways to Great: Peak Performance on the Job
and in Your Life, Dr. Doug Hirschhorn provides a practical, hands-on
approach to career development. By putting these principles into practice,
workers from all walks of life can reach the top of their game.
A performance coach, executive trainer, and television
personality, Dr. Doug Hirschhorn is also a part of the CR4 community. Last
year, at the height of the financial crisis, Dr. Doug blogged with us for the
first time – and met his share of resistance. Anger at Wall Street burned hot,
but Hirschhorn kept his cool. By engaging our engineers in extended conversations,
the former trader refused to be a victim of guilt by association.
Hirschhorn's ability to reach an audience beyond Wall Street
is also evident in 8 Ways to Great.
In the book's introductory chapter, he challenges readers who ask what they could
possibly learn from "the same guys who blew up and lost billions of dollars in
the recent stock market meltdown." Some traders are better than others, of
course, and Dr. Doug's clients are an experienced elite who "not only survived
but even thrived" during the darkest days of the Great Recession.
The Eight Principles
In just over 110 pages, Dr. Doug Hirschhorn outlines eight important
principles.
Principle #1: Find
Your "Why?"
Why do you do what you do? What is your "core motivation",
as Hirschhorn calls your "why"? Even for high-flying Wall Street traders, the
"why" involves more than making money. Challenge, excitement, and job
satisfaction are powerful drivers. So stop asking "how" and start asking "why",
Dr. Doug advises. First, figure out what's "driving your engine". If you ask the
"how" questions for starters, you'll only feel "deflated" at what's involved.
Principle #2: Get to
Know Yourself
Passion puts elite traders on a path to peak performance,
but it's their "high degree of self-awareness" that enables them to "make the
most of their strengths and minimize the impact of their weaknesses". In this
chapter, Dr. Doug asks readers to list their own pros and cons – and then muddies
the water to offer a fresh perspective.
For example, difficulty delegating tasks may be your weakness,
but you can leverage this trait to demand (and receive) only the best from your
employees. Conversely, your ability to work long hours may be your strength,
but job-related burnout is also your Achilles heel. With self-awareness,
however, Dr. Doug argues that can maintain your equilibrium.
Principle #3: Learn
to Love the Process
According to Hirschhorn, there are two types of goals:
long-term "outcome goals" and short-term "process goals". Then there's clarity
of vision. Before beginning your journey, you must learn to see through a glass
darkly. Where do you want to be in one year or ten? The future is uncertain, of
course, but you need a vision for yourself so that you can set appropriate
short-term goals.
Dr. Doug's prescription is an acronym called C.H.A.M.P.®
where the letters stand for controllable, hard, accountable, measurable, and
positive. Controllable means that the goal is completely within your control
and not at the mercy of external variables. Hard pushes you to the limit while
accountable requires you to take responsibility for your actions. Measurable
means metric-able and positive emphasizes the possibility of reward.
Principle #4: Sharpen
Your Edge
A double-edged sword is better than a single-edged sword,
but not if you fall on it. In this chapter, Hirschhorn likens "gaining a
competitive advantage" to a well-honed, two-sided sword. To sharpen the side
that represents your internal skills, start "by doing more of what you're good
at and finding a way to neutralize what you're not so good at". To sharpen the
side that represents your external knowledge, "gather as much information as you
can and use it to make the best decisions."
Still, there are no guarantees. So when you're taking a
risk, Dr. Doug recommends thinking like a casino rather than a gambler blinded
by glitter and glitz. Engineers may work far from Wall Street, but they can "do
the math" as well as any trader.
Editor's Note: Click here for Part 2 of this book review.
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