Today I want to describe the way to find a hotspot without profilers. I often use this approach and find it effective and simple enough. The only tools you need are any Windows debugger (I prefer WinDbg, but you can use your favorite one) which should always be in your hands if you decided to investigate some performance issue (as well as any other problem with your software) and tool like Process Explorer which available free from Windows Sysinternals. You can use this method without profiler at all or in conjunction with profiler to clarify the result of profilers work.
Before 
explaining the approach, I want to define the term “hotspot”. There are different definitions which can be applied in different contexts. In this article we consider a hotspot as a limited set of instructions on which execution spends significant CPU time or more CPU time than you expect from it.
The process is divided into the three steps. If you used a profiler and have a call graph, you can miss the first two steps and jump to step number three to verify the profilers result and find out the hotspot most precisely. Nevertheless, I recommend you to go 
through all steps because the results returned by profilers sometimes can be very obscure and you will lose time rolling around a call graph or other related information. Even if your profiler was absolutely right, you’ll have one more confirmation of its result. Sometimes it’s better to check twice :)