What It Takes: Lessons In The Pursuit Of Excellence

Stephen A. Schwarzman

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From Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, a long-awaited book that uses impactful episodes from Schwarzman's life to show readers how to build, transform, and lead thriving organizations. Whether you are a student, entrepreneur, philanthropist, executive, or simply someone looking for ways to maximize your potential, the same lessons apply.

People know who Stephen Schwarzman is—at least they think they do. He’s the man who took $400,000 and co-founded Blackstone, the investment firm that manages over $500 billion (as of January 2019). He’s the CEO whose views are sought by heads of state. He’s the billionaire philanthropist who founded Schwarzman Scholars, this century’s version of the Rhodes Scholarship, in China. But behind these achievements is a man who has spent his life learning and reflecting on what it takes to achieve excellence, make an impact, and live a life of consequence.

Folding handkerchiefs in his father’s linen shop, Schwarzman dreamed of a larger life, filled with purpose and adventure. His grades and athleticism got him into Yale. After starting his career in finance with a short stint at a financial firm called DLJ, Schwarzman began working at Lehman Brothers where he ascended to run the mergers and acquisitions practice. He eventually partnered with his mentor and friend Pete Peterson to found Blackstone, vowing to create a new and different kind of financial institution.

Building Blackstone into the leading global financial institution it is today didn’t come easy. Schwarzman focused intensely on culture, hiring great talent, and establishing processes that allow the firm to systematically analyze and evaluate risk. Schwarzman’s simple mantra “don’t lose money” has helped Blackstone become a leading private equity and real estate investor, and manager of alternative assets for institutional investors globally. Both he and the firm are known for the rigor of their investment process, their innovative approach to deal making, the diversification of their business lines, and a conviction to be the best at everything they do.

Schwarzman is also an active philanthropist, having given away more than a billion dollars. In philanthropy, as in business, he is drawn to situations where his capital and energy can be applied to drive transformative solutions and change paradigms, notably in education. He uses the skills learned over a lifetime in finance to design, establish, and support impactful and innovative organizations and initiatives. His gifts have ranged from creating a new College of Computing at MIT for the study of artificial intelligence, to establishing a first-of-its-kind student and performing arts center at Yale, to enabling the renovation of the iconic New York Public Library, to founding the Schwarzman Scholars fellowship program at Tsinghua University in Beijing—the single largest philanthropic effort in China’s history from international donors.

Schwarzman’s story is an empowering, entertaining, and informative guide for anyone striving for greater personal impact. From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. Schwarzman not only offers readers a thoughtful reflection on all his own experiences, but in doing so provides a practical blueprint for success.

What will you learn from this book

  1. Ambition and Determination: Schwarzman emphasizes the importance of ambition and determination in achieving one's goals. He shares his own ambitious pursuits and the mindset required to overcome challenges and setbacks.

  2. Continuous Learning: The book underscores the value of continuous learning and self-improvement. Schwarzman advocates for seeking out new opportunities for growth and staying curious and adaptable in the face of change.

  3. Resilience: Schwarzman discusses the importance of resilience in the pursuit of excellence. He shares personal stories of resilience in the face of adversity and highlights the importance of perseverance and resilience in overcoming obstacles.

  4. Building Relationships: The book emphasizes the importance of building strong relationships and networks. Schwarzman discusses the role of mentorship, collaboration, and networking in achieving success and offers insights into effective relationship-building strategies.

  5. Risk-taking: Schwarzman encourages readers to embrace risk-taking and entrepreneurship. He shares his own experiences with taking calculated risks and highlights the potential rewards of stepping outside of one's comfort zone.

  6. Leadership: The book offers insights into effective leadership principles and practices. Schwarzman discusses the qualities of successful leaders and shares lessons learned from his own leadership experiences.

  7. Strategic Thinking: Schwarzman emphasizes the importance of strategic thinking and decision-making. He discusses the value of foresight, planning, and strategic execution in achieving long-term success.

  8. Responsible Stewardship: The book advocates for responsible stewardship and ethical leadership. Schwarzman discusses the importance of integrity, transparency, and accountability in business and leadership.

  9. Adaptability: Schwarzman highlights the importance of adaptability and agility in a rapidly changing world. He shares strategies for navigating uncertainty and embracing change to stay competitive and innovative.

  10. Giving Back: The book underscores the importance of giving back to society and making a positive impact. Schwarzman discusses the value of philanthropy and social responsibility in creating lasting change and leaving a meaningful legacy.

Language English
ISBN-10 1471193497
ISBN-13 9781471193491
No of pages 378
Font Size Medium
Book Publisher Simon & Schuster
Published Date 17 Sep 2019

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