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The topics and opinions expressed in the following show are
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solely those of the hosts and their guests, and not
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What's working on Purpose?
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Anyway? Each week we ponder the answer to this question.
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People ache for meaning and purpose at work, to contribute
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their talents passionately and know their lives really matter. They
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crave being part of an organization that inspires them and
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helps them grow into realizing their highest potential. Business can
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be such a force for good in the world, elevating humanity.
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In our program, we provide guidance and inspiration to help
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usher in this world we all want working on Purpose.
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Now here's your host, doctor Elise Cortes.
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Welcome back to the Working in a Purpose program, which
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has been brought to you with passion and pride since
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February of twenty fifteen. Thanks for tuning in this week.
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Great to have you. I'm your host, doctor Elise core Test.
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If we have not met before and you don't know me,
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I am a workforce advisor, organizational psychologist, management consultant, logo therapist,
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speaker and author. My team and I at Gusto now
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help companies to enlive and in fortify their operations by
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building a dynamic, high performance culture and inspirational leadership activated
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by meaning and purpose. And did you know that inspired
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employees outperform their satisfied peers by a factor of two
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point twenty five to one. In other words, inspiration is
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good for the bottom line. You can learn more about
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us on how we can work together at Gusto dshnow
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dot com or my personal site atliscore Test dot com.
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Before we get into today's program, I am thrilled to
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announce that registration has been open for a fabulous new
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conference for women for which I will service the MC.
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It's called Thrive and twenty five and it's a jam
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packed few days in Chicago June twenty fifth through the
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twenty eighth, twenty twenty five, and its designed to develop
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women as whole selves, from bolstering your mindset to your
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financial acumen to leadership, to incorporating nature and art into
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your life to raise consciousness and much more. Visit thrive
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in twenty five dot com for information and to register.
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Use my promo code of Gusto all Caps to gain
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access to the free books and programs. I'll be gifting
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registrants as well. Getting In today's program, we have with
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us Sebastian Page, the head of Global multi asset and
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Chief Investment Officer at tro Price. He has more than
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two decades of leadership experience and has done extensive research
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on positive sports and personality psychology. He currently oversees a
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team of investment professionals actively managing over five hundred billion
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dollars in assets under management. He's written too finance books
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and appears regularly on CNBC and Bloomberg TV. We'll be
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talking about his latest book, The Psychology of Leadership, Timeless
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Principles to improve your management of individuals, teams, and yourself.
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We'll talk specifically about the principle's discus us through the
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lens of positive psychology, sports psychology and positive psychology. Sebastian
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joins us from Baltimore, Maryland. Sebastian, A hearty welcome to working.
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On a purpose, Lise, thank you. I'm super excited. I
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love doing podcasts. You mentioned CNBC interviews. I think the
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podcasts are much more relaxed, much more farn.
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I'm so glad. I'm delighted to have you here. And
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of course you know I love your ankset. Once upon
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a time I could speak a little lu Francaise, so
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I'm delighted to hear accent as well. But let's celebrate
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this beautiful thing you brought into the world. Look at
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this gorgeous piece of work, The Psychology of Leadership. It's
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just beautiful. Sebastian. And as we were talking before we
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got on air, you know, it takes a lot to
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one create the book, and then once you write the
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whole entire book and everything, it's all published, you're like
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thirty percent done. Then it's you know, then you've got
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to promote the thing. So so happy to have you
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on to talk about your work.
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Thank you, Thank you for having me.
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Very welcome. Well let's let's just just di spell the
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curiosity right out of the I'm sure listeners and viewers
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are wondering why did this finance money management executive write
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a book on self improvement in leadership? Did something happen
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to you? Elise?
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You know that question. I've gotten it from about two
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hundred agents who rejected represent me for the book. Thankfully,
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I found a great agent and a great publisher. Look,
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I was struggling at work. I was stressed, and I
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was beating myself up for being stressed. I have a
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high pressure job. But I kept thinking, I've been doing
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this for over twenty years. Why am I so stressed?
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So I started talking to a sports psychologist and the
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first time I met him, he told me a story
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and it changed how I view psychology. He walks me
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through his best handball match. Ever, it turns out not
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only easy APHD sports psychologist, he's also a pro athlete.
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He's won forty national titles at the sport of handball.
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At least this is like squash, but you hit the
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ball with your hands. Now forty national titles. His name
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is doctor Daniel Zimmitt. He starts telling me the story
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of his best match. It was ten years ago. He
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remembers everything about it. He remembers where the ball was
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at every point in the match, it's emotional for him
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at the point he recalls being on his knees and
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making an impossible shot. You remember the sounds, everything, And
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at least it's a complete leaddown because he then goes, oh, yeah,
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I lost the other two points. I go, wait, you
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lost the match and he goes yes. But to him,
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as a sports psychologist, it was irrelevant. What was most
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important to him was that he was playing a much
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stronger opponent and that day on the court, he realized
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that he'd improved his skills dramatically and that he was
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able to play at a different level. So just think
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about the mindset of someone who has forty national titles,
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who's talking about their best match ever and they happened
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to have lost the match and it almost doesn't matter.
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At least this kicked off research in sports psychology and
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what it's about, and then I hired him as a
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consultant to help with the research. We went into positive psychology,
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which is about what makes people thrive in the long run,
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and then maybe the most fun personality psychology and not
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just introversion, extraversion, other personality traits and how they drive
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some of our behaviors and how we interact with each other.
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The bottom line release is it started with that conversation,
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ended up with fascinating research, and I've just come to
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realize that business leadership self improvement. There are a lot
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of findings in the research in those fields that have
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yet to be explored, and some of them are counterintuitive.
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Well, of course, you know, as you might know about
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my background, I'm delighted to have a conversation with you
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as somebody who isn't necessarily immediately schooled in those topics
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because my main education is in positive psychology and existential psychology.
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I then taught for many years various things like social psychology,
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personality psychology, So it's totally my damn So it's delightful
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to see how you're getting so much value out of
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it and applying it into your own life and your
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own leadership. It's terrific.
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And to me, at least, I just kept reading about it,
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learning about it and thinking, wow, why don't more people
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know about this? Right?
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Right?
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Serious research over decades, and for example, work Marty Seligman
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did on positive psychology and what types of long term
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goals you should set for yourself to maximize your ability
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to thrive over time. It's just a gold mine. And
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we're all sitting here in business struggling with stress and
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setting goals as leaders, and we underestimate what people like
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you have done in research and it's kind of in
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the drawer and we have to look at this and
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use it.
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I completely agree, and it works, by the way, So
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you brought it, Marty Suliman. I certainly am a huge
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fan of doctor Seliman, and you write and some of
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the core stuff you've drawn in your book is what
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he calls his Perma model. So let's just quickly treat
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that for our listeners and viewers, if you'll run through
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that for us.
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I don't like acronyms. I'm a money management person. In finance,
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we have all these acronyms, and then you go into technology,
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we have all these acronyms everywhere. This one acronym, I
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love it. I use it in the book. I've devised
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chapters around it. Perma stands for positive emotions, engagement, positive
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relationships meaning something you talk a lot about on your show,
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and accomplishment, but in the sense of long term accomplishment.
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And what Seligman says is every day we're all after
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positive emotions and they're nice, you laugh, you get a
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like on social media, you get a good glass of wine.
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But unfortunately, some people aren't wired to experience positive emotion.
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It goes all the way to clinical depression. But irma
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is where the substance is. Irma is where your ability
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to thrive long term comes in. These are the things
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that feed your soul for the long run. I refer
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to positive emotion as sugar highs and irma as the
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proteins for the soul. So you might think, what does
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this have to do with business and leadership? A lot,
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a lot, because guess what a business is about relationships.
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There's a crisis of meaning in corporate America. I love
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your show and I've listened to prior EPs, and it's
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so important to talk about meaning. I was at a
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town hall today talking about what we do in our
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business in retirement and the meaning of managing the money
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to give people better retirements. So all these things in
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positive psychology have huge applications in business, and at least
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it comes down to goals as a leader, and you
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don't have to manage people to be a leader. You're
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a leader in your family, you're a leader in your church,
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you're a leader. You lead by example. As a leader,
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you're the ones setting the goals, because if you don't
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set the goals, who.
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Will, right, right, And that's one of the things I
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really appreciate about your book, Sebastian. There are many things,
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but I also really like how you turn some of
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these common ideas under side and then you treat them differently,
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and I really really really love that. It's delightful. And
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so you do spend a third of your book is
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actually talking about setting long term goals based on positive psychology,
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and you talk about everyday life and all this. But
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can you say but you also then go on to say, though,
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that it is said that measurable goals can become liabilities
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if they make leaders blind to ethics and burnout. So
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could you talk a little bit more about how leaders
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can balance goal setting with maintaining well being and ethical standards.
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This is super important. It's part of my own journey.
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Early in my career, I had what psychologists call goal
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induced blindness. I was working non stop, traveling NonStop, I
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was deprived, I was stressed, And there's a story in
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the Psychology of I almost died from a mysterious infection.
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I think because my body was completely run down, I
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made a full recovery, but that was full on goal
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induced blindness. When we talk about goal induce blindness, we
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mean that you're so focused on your measurable goal, because
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it's usually a measurable goal, you lose sight of other
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things that matter, like your health in my case, or
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your sense of ethics. And those companies will start cheating
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just to reach their goals. Volkswagen famously d on their
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emissions numbers, Wells Fargo created dummy accounts just to boost
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their account numbers. So and here I need to pause
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at least because measurable goals are great. They're actually incredibly helpful, useful, motivating.
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You need them to run a business, and it helps
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to lead organizations to use measurable goals. But to your
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point about counter into it, if fine, goal induce blindness
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is greatly underrated. At least, just to illustrate for our
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listeners and viewers, this is a question I asked a
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group of students three weeks ago, and I'm going to
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ask you. I know what you're going to answer because
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you studied positive psychology, but just rhetorically, I'm going to
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ask you the same question, and our listeners can think
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about what their answer would be. And this is about
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goal induce blindness. I was in front of a thousand
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money management students, finance students, and I offered them. I said,
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if I show you a jar of gummies and there's
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one hundred gummies, four of them are going to kill
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you because they're poisoned. What would it take for me
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to convince you to have one of those gummies to
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eat it? And I started by offering a million dollars
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and I went all the way to a billion dollars.
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And those were students in their twenties. And what shocked
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me was that maybe fifteen percent of the room had
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their hand up at a million dollars. Wow, that is
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goal induced blindness. And there's the reason why I picked
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four gummans out of one hundred. Because in the psychology research,
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Mount Everest debts are used as the prime example of
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goal induced blindness. And at least if you want to
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climb Everest, statistically, based on the historical data, you have
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four percent chance of dying in the process. Those are
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extreme examples of goal induced blindness. But if you don't