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Posts Tagged ‘dr.doug’

Winning Gold When You Take Home the Bronze

Sunday, February 28th, 2010

You know what Greatness is?

It was watching Canada’s Joannie Rochette, win the Bronze medal in women’s skating in the 2010 Winter Olympics. Actually, it wasn’t just that she won the Bronze, it was that she did this less than a week after her mother’s sudden death.

Joannie was an only child. Her mom was her biggest fan and her closest friend. She could have crumbled. She should have fallen apart. Most people would have. Even elite athletes lose focus and self-destruct from time to time like Dan Jansen did in the 1988 Olympics in Calgary when he was heavily favored to win Gold and tripped during the 500m speed skating race; earlier that day his sister Jane Beres died from leukemia. No one blamed Dan for his failure to deliver his best when it mattered most. How could he have? The Olympics are just a game and his sister’s death was the tragic loss of someone he dearly loved. In a recent interview, Dan acknowledged that it was not until years later that he realized how much his sister’s death had impacted his ability to focus that day. A focus he regained eight years later when he won the Gold medal in the 1000M men’s speed skating at the 1994 Olympics in Lillehammer, Norway.

For Joannie, no one would have blamed her if she was unable to deliver her best over the past few days in Vancouver. She could have under-performed and been completely justified in doing so. But she didn’t. She focused. And she did it under extreme personal stress while competing against a group of skaters that could arguably be considered the greatest talents women’s ice skating has ever seen in Olympic competition at one time. Japan’s Mao Asada, who was the Silver medal winner and the first women in Olympic competition to do a triple axel in her routine. Except Mao didn’t just do one; she did two of them. And, of course Korea’s
“ice queen,” Kim Yu-Na took the gold while setting a new world record score of 150.06.

What does it take to be a champion?
Effort? Yes.
Talent? Of course
Desire? Yes
Passion? Yes
But most of all, as Joannie showed us, it takes mental toughness.
Congratulations Joannie for showing us what winning Gold looks like even when you take home the Bronze.

Dr Doug

Carving Out Your Niche At Work

Sunday, February 14th, 2010

As the Career Coach to the Wall Street Elite, I take a unique approach to coaching them to identify their own greatness factor so they can become even more successful.

Carving Out a Niche
I do NOT believe people have strengths or weaknesses (See Principle #2 in 8 Ways to Great). Instead, I believe we all have characteristics and personality traits – the combination of which makes each of us unique, like a personality fingerprint.

Employers/companies are not looking for “Perfect” people; they are looking for people that can add value now and adapt and change as the company/world changes.

I believe if you change your attitude about traditional strengths and weaknesses and position yourself more as the person who understand how your personality traits both help and hurt you in your role, then you have automatically differentiated yourself from your co-workers and being just “another employee.”

By taking this unique approach, it shows you have highly desirable skills like:
• Critical thinking
• Creative engagement
• Problem solving
• Self-awareness
• Resilience and ability to adapt to changing environments

All of these are excellent characteristics to be able to showcase as your assets in the current environment.

How to show it while you are on the job? How to let management know you are working on the skills?
• Ask to work on a special project so you can showcase your skills…..set yourself up for success by offering to do a project you are passionate about and know you will be fully engaged in, even if it means putting in time outside of work

• Another strategy is to ask for regular “check-ins” with your manager or boss. This will give you a chance to showcase the progress you are making while getting corrective feedback from the manager as well.

VERY IMPORTANT: these check-ins should be short (few minutes…every week to two if possible). The point is to let him or her see how you are learning, making mistakes, dealing with setbacks, , adapting, growing and knocking stuff out along the way. Important…keep these check-ins very brief. If he or she wants to ask you questions then stick around longer but let that be their choice.

Dangers

  • Moving yourself to the next level and becoming great is hard. Not just because of the sacrifice and effort but because of the social pressures you will be faced with along the way. Beware, your co-workers may get jealous and think you are kissing butt to get ahead. Do not let this peer pressure deter your efforts. That is their problem, not yours. Are you working to make friends or to be the best you can be in your role?
  • If you want to be different and get ahead of the crowd, then you have to work smarter and know that they are going to want to bring you down. Keep your focus on yourself and know that you are doing this to add value to the business, improve YOUR life and the life for your FAMILY. That is the most important thing there is.

Dr. Doug

For Conan (and other elite), Becoming Great Is Not About The Money.

Sunday, January 24th, 2010

Just because your severance check is over 30 million, doesn’t mean getting fired is any less painful.

Everyone is talking about Conan and grappling to understand what the big deal is. He has millions, got paid tens of millions to leave AND within months he can basically sign a new contract with a competitor. How bad can life possibly be for him? That’s a problem I would love to have, wouldn’t you?

I’m Dr. Doug Hirschhorn, the premier coach to the Wall Street elite. My clients make tens of millions each year, every year. Unbelievable, I know. No, they don’t break laws. No, they are not shady characters. And as I clearly explain in my new book, 8 Ways to Great (Penguin/G.P. Puntam’s Sons), they are not the ones responsible for the economy falling apart. They are just regular guys who are highly skilled entrepreneurs, faced with great opportunities, just like Conan on TV or like Steve Jobs in the technology world. The mentality of these titans, as I have discovered in my decade of leadership coaching, is remarkably similar, and it does not seem to matter whether they are an athlete, business mogul or media star. Their path to finding that place called great, is identical and can be condensed to six words in a single sentence. And here it is, “IT IS NOT ABOUT THE MONEY.”

For Conan, Leno, Steve Jobs, Hedge Fund Titans or even Oprah Winfrey, what motivates them to tap into and unlock their inner greatness are things like ego, passion, inspiration, fear of being mediocre, desire to improve the lives of others, or even low self-esteem that got engrained in them somewhere in their childhood and it has served to push them to prove those doubters from way back when that they were wrong. The bottom line is it is lots of things, just not money.

What does this have to do with you and your career building? Well, instead of being just another person who writes this Conan thing off as a ridiculous example of rich people crying over how big their pile of gold coins is or isn’t; think for a second about how much work and sacrifice Conan had to endure in order to reach his dream of being the top dog in the late night media. Have you ever made tremendous personal and professional sacrifices to have a shot to reach your goals? If you haven’t, then that is a shame; but if you have and my bet is most of you have, then you know exactly how Conan must feel right now.

He worked his entire life to get his shot – and he got it. And then it was taken away from him seven months later. The reason why is less important than the reality that it was. What I mean is, it doesn’t matter if he was fired because his ratings were down or because of politics; all that matters is Conan, just like many of us, had a dream and for decades worked towards achieving it. Then he goes into work one day and is told it’s over, here’s a check, don’t let the door hit you in the ass on the way out.

Is Conan pissed? Of course, he has to be, he is human. Is his ego bruised or maybe shattered? Probably. Does he feel like he was wronged, cheated by people he trusted? Yep. Has he stayed awake at night these past couple of weeks asking pointless questions like, “Why is this happening to me?” I sure bet he has - just like you or I would.

One thing I have learned from my elite clients on Wall Street is that these inflection points create huge potential opportunities for them to create a greater life if they are willing to remove the emotion and take smart risk. And for Conan, it is no different.

Conan has a CHOICE. He can choose to stay bitter, focus on the past, the empty promises, the mud slinging, the anger, emotion and remain stuck in time or he can choose to compartmentalize all of the anger, animosity, fear and doubting and create a new, career building plan for the Conan brand. He is still the same guy. He has the same unique quirky edge and comedic skills. The situation has just changed. Now it is up to him to choose to reinvent himself or not.

For this reason, I believe Conan is no different than any of us out there who thrive on finding our greatness. Stuff that is out of our control happens to all of us at some point in lives. Sometimes it has to do with our employment and other times it may have to do with our relationships. Yes, I know, plans are destroyed, effort is wasted and resources are exhausted but in the end, all that is going to matter for Conan, me, you or any other human being on this planet dealing with this type of situation is what choice we make after unexpected, uncontrollable events occur in our lives.

Conan, feel free to email me if you need a wake up call because I, for one, am looking forward to seeing what choice you make in the face of adversity.

Dr Doug

Becoming Great

Thursday, January 21st, 2010

Everyone likes the idea of becoming great. My elite Wall Street clients who are already great traders, want to increase their greatness factor. As Dr. Doug, I have built up a substantial consulting practice, media presence and just released my second book 8 Ways to Great (Penguin/G.P. Putnam’s Sons, 2010) – and I now want to take my brand of finding greatness, to the next level. I am talking about the global level on par with Tony RobbinsWayne DyerJoel Osteen and even Oprah.

What about you? What do you want? Maybe you want to increase your greatness factor as a parent? A spouse? A friend? Or you want to live a greater life by improving your fitness or diet? Or maybe you just want to increase your self awareness and eliminate mistakes so you can stick to your goals?

I have been thinking, struggling, at times, sleepless and tormenting with HOW to crack and leverage the online social network so that Dr Doug – the coach to the Elite – can become a household name synonymous with finding your inner greatness.

My greatest critic and supporter (my wife of 10 years) sees the look in my eyes and reads my body language when we talk about what it is going to take to try to make that career building goal happen. The contacts I have to pursue, the relationships I need to explore, the tremendous effort – all while continuing to grow and maintain my current trading psychology coaching business. Oh, and did I mention, I have three incredible young children whose smiles make me realize what greatness really is?

Yes, I feel lost and scared and insecure – just like you. Yes, sometimes, I say to myself, maybe I should just slow things down and enjoy the NOW rather than pursue this global Dr Doug brand.

The list grows and grows each time we talk about it. And my body language says it all – it says, “Yeah, I want to build that brand and reach that goal of being the coach who helps people find their inner greatness…but am I really willing to do what it takes to make that happen. Because if I was, then the body language would be energized rather than flattened.”

I never doubted (at least not for the past few years) as to whether I could make it happen; but I do find myself wondering if I am really willing to make the personal sacrifices that are necessary to give myself the chance to find my inner greatness. I know first hand the kind of sacrifices that will be required along the way. I see it first hand with my elite wall street clients who I coach to becoming even greater traders. And many of those sacrifices they make along the way they never get a second chance at because time moves on, kids grow up, and seasons change.

Is it worth it Doug? Will it be worth it when you look back 30 years from now? Are you sure this is what you want from your life? And if so, are you willing to do what it is going to take to make it happen?

If you find yourself in a similar place, determining the different between Wanting to do something and if you are really WILLING to do what it will take to make it happen, then here are three things I discuss in 8 Ways to Great that I think you should consider when weighting this decision.

1)   Fear is OK.

Openly talk about your fears either to yourself or to a trusted resource. The more your express and identify your fears, the less of a barrier they become in your life. Remember, fear is normal and ok to feel. All that matter is that you do not make decisions based on that fear. For example, just because you are afraid of all the work that it will take to reach your goal is not the right reason to not go for it. So, identify the fears, greet them with open arms and then put them in a box so they don’t get in your way.

2)   Take a Process Approach

List all the things, that you need to do in order to reach that big goal. Then just pick 3, start there and do not move on until you have completed them; then pick 3 more and so on. By focusing on the process, you break down larger, more intimidating goals into smaller more digestible pieces. At the end of just one week, you will have worked your way through a good number of the items on the list. This will then give you hope and energy to keep moving forward.

3)   Focus more on WHY

Spend some time figuring out why you really want to achieve that goal. Most people only think about how they are going to get there or lose the weigth or find the time. Instead, ask yourself WHY you want to do it and if the WHY is powerful enough to you, then you will find that the HOW takes care of itself and you will be moving from Wanting to achieve a goal to being Willing to do what you need to do to make it happen.

Go ahead and find your way to Great!

Dr Doug

Fighting Trader Trepidation

Sunday, January 10th, 2010

(Watch the Video Online: Market coach Doug Hirschhorn, PhD, discusses how traders are likely to deal with Trader Trepidation in 2010.)

The theme for this week, and probably for the next few months, is “trader trepidation.” Here are three reasons why traders might seem a little hesitant early in 2010:

Memory of not getting paid is fresh in traders’ minds

When traders have a bad year (like 2008), it usually takes two to three years before they get paid again. For example, in 2008, traders lost money. In 2009, they made back the losses from 2008, and in 2010, if they make money, they’ll get paid in the first quarter of 2011. That’s a long time to be in the penalty box.

Equities are likely to be especially tough in 2010

We haven’t seen the end of the Galleon situation and have no idea how the SEC is going to tighten regulation. This creates a large amount of uncertainty and, for traders, when too much uncertainty exists, they sit on the sideline and wait.

Distractions will fill traders minds

During the next few months, expect to hear a lot of discussions about Wall Street payouts. Some firms had record years in 2009 and plan on paying traders big. This will really bother politicians and jobless Americans and the end result will be a revamping of how traders get paid on the Street. The good news is, Wall Street will likely turn into more of a pay-for-performance situation. The bad news is, it’s going to take a while to figure out, and that means major distractions to professional traders. The more time they spend thinking about how they’ll get paid, the less they’re able to think about making trades.

So where will the opportunities be in 2010? From what I’m hearing, it looks like gold, oil, currencies and other deep, liquid, unregulated global commodities are where the action will be. That’s still one place traders can get great price action with the least amount of headaches.

Think better, invest smarter.