What It Takes: Lessons in the Pursuit of Excellence
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- Author：Stephen A. Schwarzman
- ISBN：1471189554
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Summary
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。
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。
Reviews
WenJing He
，
This is a great and insightful book with easy-to-follow and some times humorous narrative。
Hannah
，
very self promoting with limited advice / applicable info。 Did learn a lot about the dude and his life/ success/ company tho
Mahesh Naidu
，
Every businessman or entrepreneur should definitely read this book 📚 An amazing story of a self made man who came up from nothing！
Liya
，
The first half was fine， but he was bragging so much in the second half that I wanted to throw up。 I mean， I knew Schwarzman is a successful businessman， but who knew he is also more important than the U。S。 President in bringing world leaders together， the most influential liaison between the US and China， and the biggest donor to Oxford since the Renaissance？ And you will never forget his name because there is the Schwarzman Scholars of Qinghua， Schwarzman Center at Yale， and MIT Schwarzman Col The first half was fine， but he was bragging so much in the second half that I wanted to throw up。 I mean， I knew Schwarzman is a successful businessman， but who knew he is also more important than the U。S。 President in bringing world leaders together， the most influential liaison between the US and China， and the biggest donor to Oxford since the Renaissance？ And you will never forget his name because there is the Schwarzman Scholars of Qinghua， Schwarzman Center at Yale， and MIT Schwarzman College！ 。。。more
Jeff Borree
，
This started off well enough but then I realized how braggadocios Mr。 Schwarzman was being in chapter after chapter。 I totally get it， it's an autobiography and that is the nature of the genre， but he literally outlines how he single handedly saved the American / Global economy after the 2008 financial collapse。 You can skip this book but you can also google his "25 rules for work and life。" This is the last and most accessible chapter in the book and free with simple google search。 This started off well enough but then I realized how braggadocios Mr。 Schwarzman was being in chapter after chapter。 I totally get it， it's an autobiography and that is the nature of the genre， but he literally outlines how he single handedly saved the American / Global economy after the 2008 financial collapse。 You can skip this book but you can also google his "25 rules for work and life。" This is the last and most accessible chapter in the book and free with simple google search。 。。。more
Viktoriya Gruzdyn
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Great books especially for entrepreneurs。 Stephen shares how he learned from his own mistakes and experiences and how Blackstone became a remarkable success because of their culture， openness and integrity。 He shares the importance of to keep challenging yourself and if you can solve challenging problems， people will seek you out。 He also teaches that success is about taking advantage of those rare moments of opportunity and in order to success you have to preserve though rejection m disappointm Great books especially for entrepreneurs。 Stephen shares how he learned from his own mistakes and experiences and how Blackstone became a remarkable success because of their culture， openness and integrity。 He shares the importance of to keep challenging yourself and if you can solve challenging problems， people will seek you out。 He also teaches that success is about taking advantage of those rare moments of opportunity and in order to success you have to preserve though rejection m disappointment and despair。 。。。more
Ben Casley
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I enjoyed this book in the beginning， however towards the end it came across as more a way to show off Schwarzman's achievements。 None the less， I learned a lot from his experiences and found some of the stories entertaining。 I most admired Schwarzman for his ambition and willingness to put himself out there and make things happen。 This was evident in his stories from a young boy， his antics in college and translated though to his success as business owner。 He showed conviction in his ideas， wou I enjoyed this book in the beginning， however towards the end it came across as more a way to show off Schwarzman's achievements。 None the less， I learned a lot from his experiences and found some of the stories entertaining。 I most admired Schwarzman for his ambition and willingness to put himself out there and make things happen。 This was evident in his stories from a young boy， his antics in college and translated though to his success as business owner。 He showed conviction in his ideas， wouldn't take no for an answer and had the ability to follow through and deliver a quality service。 It was clear he thought differently to traditional financial institutions， which was why he so badly fought to get out and start his own business， a feeling I can empathise with。He was a problem solver at heart， and was able to think outside the box in a variety of situations。 He cared about his people， and the performance of his people。 He believed he put his people in the best position to succeed， from his willingness to invest in his office space， through to his remuneration structure and willingness to profit share。 He values his stakeholders and was willing to back people and businesses who came through for him in the past。 He values integrity and avoided those who wronged him or lacked these values。 。。。more
Iñigo
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Amazing， loved it！！！
Alexander Holzmann
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I picked up this book since my employer recently received a large investment from Blackstone。 It's a very well-written book on Stephan Schwarzman's career including many advice on career and running businesses。 Among other things， he has very interesting advice on limiting downside risk and investing for the long-term， both monetary and in relationships。 Concepts like leveraged buyouts and private equity are also explained very well。 The big caveat is that the book comes of as very self-promotio I picked up this book since my employer recently received a large investment from Blackstone。 It's a very well-written book on Stephan Schwarzman's career including many advice on career and running businesses。 Among other things， he has very interesting advice on limiting downside risk and investing for the long-term， both monetary and in relationships。 Concepts like leveraged buyouts and private equity are also explained very well。 The big caveat is that the book comes of as very self-promotional。 Especially， in the light of recent criticism against himself and Blackstone。 An interesting book nonetheless。 。。。more
Chido
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A well written story of an eventful life。 I loved the honesty in this book and the way the author shared his journey step-by step from the beginning。 My favourite part is the section on the 25 rules for work and life which wraps up the most important lessons from Schwarzman's life story。 I would highly recommend this book to anyone working to build a great company and/or career A well written story of an eventful life。 I loved the honesty in this book and the way the author shared his journey step-by step from the beginning。 My favourite part is the section on the 25 rules for work and life which wraps up the most important lessons from Schwarzman's life story。 I would highly recommend this book to anyone working to build a great company and/or career 。。。more
Terence
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Unfortunately this book is terrible。 It is full of bragging and name dropping but no real insights。 Don't recommend Unfortunately this book is terrible。 It is full of bragging and name dropping but no real insights。 Don't recommend 。。。more
Lopamudra Banerjee
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Excellent Book！ Loved very page。 Extremely engaging
Pearlyn Chen
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An absolutely amazing book！
Yash Jain
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Read into the mind of what how Mr。 Schwarzman （a successful PE investor） think， values， and does his business。
Lanre Dahunsi
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Schwarzman shares 25 lessons and rules for life and Work:“The best executives are made， not born。 They absorb information， study their own experiences， learn from their mistakes， and evolve。”It’s as easy to do something big as it is to do something small， so reach for a fantasy worthy of your pursuit， with rewards commensurate to your effort。The best executives are made， not born。 They never stop learning。 Study the people and organizations in your life that have had enormous success。 They offer Schwarzman shares 25 lessons and rules for life and Work:“The best executives are made， not born。 They absorb information， study their own experiences， learn from their mistakes， and evolve。”It’s as easy to do something big as it is to do something small， so reach for a fantasy worthy of your pursuit， with rewards commensurate to your effort。The best executives are made， not born。 They never stop learning。 Study the people and organizations in your life that have had enormous success。 They offer a free course from the real world to help you improve。MADE， NOT BORNIn spring 1987， I flew to Boston to meet with the endowment team at the Massachusetts Institute of Technology。 I was trying to raise money for Blackstone’s first investment fund and had set a target of $1 billion。 This would make us the biggest first fund of our kind and the third biggest in the world。 It was an ambitious goal。 Most people said it was impossible。If you’re going to commit yourself to something， it’s as easy to do something big as it is to do something small。 Both will consume your time and energy， so make sure your fantasy is worthy of your pursuit， with rewards commensurate to your effort。But I’ve always believed that it’s just as hard to achieve big goals as it is small ones。 The only difference is that bigger goals have much more significant consequences。 Since you can tackle only one personally defining effort at a time， it’s important to pursue a goal that is truly worthy of the focus it will require to ensure its success。it’s just as hard to achieve big goals as it is small ones。 The only difference is that bigger goals have much more significant consequencesWrite or call the people you admire， and ask for advice or a meeting。 You never know who will be willing to meet with you。 You may end up learning something important or form a connection you can leverage for the rest of your life。 Meeting people early in life creates an unusual bond。 At some point in life， we have to figure out who we are， he said。 The sooner we do it the better， so we can pursue the opportunities that are right for us， not some false dream created by others。 – Averell Harriman advice to Schwarzman“You can learn to be a manager。 You can even learn to be a leader。 But you can’t learn to be an entrepreneur。”Inflection PointsEvery entrepreneur knows the feeling: that moment of despair when the only thing you are aware of is the giant gap between where you find yourself and the life and business you imagine。 Once you succeed， people see only the success。 If you fail， they see only the failure。 Rarely do they see the turning points that could have taken you in a completely different direction。 But it’s at these inflection points that the most important lessons in business and life are learned。Once you succeed， people see only the success。 If you fail， they see only the failure。 Rarely do they see the turning points that could have taken you in a completely different direction。Listening A lot of people fail because they start from a position of self-interest。 What’s in this for me？ They will never get to do the most interesting and rewarding work。 Listening closely and watching the way people talk puts me much closer to answering the question I’m always asking myself， which is: How can I help？ If I can help someone and become a friend to their situation， everything else follows。There is nothing more interesting to people than their own problems。 If you can find out what they are and come up with solutions， they will want to talk to you no matter their rank or status。 The harder the problem and the scarcer the solution， the more valuable your advice is。 It’s in those situations， where everyone is walking away with averted eyes， that the field clears and the greatest opportunity awaits。There is nothing more interesting to people than their own problems。 Think about what others are dealing with， and try to come up with ideas to help them。 Almost anyone， however senior or important， is receptive to good ideas provided you are thoughtful。Building Blackstone“Blackstone is a remarkable success because of our culture。 We believe in meritocracy and excellence， openness and integrity。 And we work hard to hire only people who share those beliefs。 We are fixated on managing risk and never losing money。 We are strong believers in innovation and growth—constantly asking questions in order to anticipate events so that we can evolve and change before we are forced to。 There are no patents in finance。”Every business is a closed， integrated system with a set of distinct but interrelated parts。 Great managers understand how each part works on its own and in relation to all the others。“There are no patents in finance。 A good business with high profits today can be a poor business with low profits tomorrow。 Because of competition and disruption， if all you rely on is a single line of business， your organization may not survive。”Everything is Connected The lesson was that everything in business relates to everything else。 For a business to succeed， each part has to work on its own and with all the other parts。 It’s a closed， integrated system， organized by managers。 If you are making cars， you have to have good research so you’ll know what people want to buy; good design， engineering， and manufacturing so you can produce a good product; effective programs to recruit and train your labor force; good marketing so you can create desire for what you are making; and good salespeople who know how to close deals。 If any parts in the system break and you can’t fix them quickly， you risk losing money and going out of business。Cost of Ambition If you want something badly enough， you can find a way。 You can create it out of nothing。 And before you know it， there it is。 But wanting something isn’t enough。 If you’re going to pursue difficult goals， you’re inevitably going to fall short sometimes。 It’s one of the costs of ambition。Businesses often succeed and fail based on timing。 Get there too early， and customers aren’t ready。 Arrive too late， and you’ll be stuck behind a long line of competitors。Solving Hard ProblemsAs an investment banker and later as an investor， I found that the harder the problem， the more limited the competition。 If something’s easy， there will always be plenty of people willing to help solve it。 But find a real mess， and there is no one around。 If you can clean it up， you will find yourself in rare company。 People with tough problems will seek you out and pay you handsomely to solve them。 You will earn a reputation for doing what others cannot。 For a pair of entrepreneurs trying to break through， solving hard problems was going to be the best way of proving ourselves。Information is the most important asset in business。 The more you know， the more perspectives you have， and the more likely you are to spot patterns and anomalies before your competition。 So always be open to new inputs， whether they are people， experiences， or knowledge。When you’re young， only take a job that provides you with a steep learning curve and strong training。 First jobs are foundational。 Don’t take a job just because it seems prestigious。Success is about taking advantage of those rare moments of opportunity that you can’t predict but come to you provided you’re alert and open to major changes。When presenting yourself， remember that impressions matter。 The whole picture has to be right。 Others will be watching for all sorts of clues and cues that tell who you are。 Be on time。 Be authentic。 Be prepared。SalesmanshipAs a salesman， I’d learned you can’t just pitch once and be done。 Just because you believe in something doesn’t guarantee anyone else will。 You’ve got to sell your vision over and over again。 Most people don’t like change， and you have to overwhelm them with your argument， and some charm。 If you believe in what you’re selling and they say no， you have to presume that they don’t fully understand， so you give them another opportunity。No one person， however smart， can solve every problem。 But an army of smart people talking openly with one another will。To be successful you have to put yourself in situations and places you have no right being in。 You shake your head and learn from your own stupidity。 But through sheer will， you wear the world down， and it gives you what you want。People in a tough spot often focus on their own problems， when the answer usually lies in fixing someone else’s。Believe in something greater than yourself and your personal needs。 It can be your company， your country， or a duty for service。 Any challenge you tackle that is inspired by your beliefs and core values will be worth it， regardless of whether you succeed or fail。Never deviate from your sense of right and wrong。 Your integrity must be unquestionable。 It is easy to do what’s right when you don’t have to write a check or suffer any consequences。 It’s harder when you have to give something up。 Always do what you say you will， and never mislead anyone for your own advantage。Be bold。 Successful entrepreneurs， managers， and individuals have the confidence and courage to act when the moment seems right。 They accept risk when others are cautious and take action when everyone else is frozen， but they do so smartly。 This trait is the mark of a leader。Never get complacent。 Nothing is forever。 Whether it is an individual or a business， your competition will defeat you if you are not constantly seeking ways to reinvent and improve yourself。 Organizations， especially， are more fragile than you think。Sales rarely get made on the first pitch。 Just because you believe in something doesn’t mean everyone else will。 You need to be able to sell your vision with conviction over and over again。 Most people don’t like change， so you need to be able to convince them why they should accept it。 Don’t be afraid to ask for what you want。If you see a huge， transformative opportunity， don’t worry that no one else is pursuing it。 You might be seeing something others don’t。 The harder the problem is， the more limited the competition， and the greater the reward for whomever can solve it。Success comes down to rare moments of opportunity。 Be open， alert， and ready to seize them。 Gather the right people and resources; then commit。 If you’re not prepared to apply that kind of effort， either the opportunity isn’t as compelling as you think or you are not the right person to pursue it。Time wounds all deals， sometimes even fatally。 Often the longer you wait， the more surprises await you。 In tough negotiations especially， keep everyone at the table long enough to reach an agreement。Don’t lose money！！！ Objectively assess the risks of every opportunity。Make decisions when you are ready， not under pressure。 Others will always push you to make a decision for their own purposes， internal politics， or some other external need。 But you can almost always say， “I think I need a little more time to think about this。 I’ll get back to you。” This tactic is very effective at defusing even the most difficult and uncomfortable situations。Worrying is an active， liberating activity。 If channeled appropriately， it allows you to articulate the downside in any situation and drives you to take action to avoid it。Failure is the best teacher in an organization。 Talk about failures openly and objectively。 Analyze what went wrong。 You will learn new rules for decision making and organizational behavior。 If evaluated well， failures have the potential to change the course of any organization and make it more successful in the future。Hire 10s whenever you can。 They are proactive about sensing problems， designing solutions， and taking a business in new directions。 They also attract and hire other 10s。 You can always build something around a 10。Be there for the people you know to be good， even when everyone else is walking away。 Anyone can end up in a tough situation。 A random act of kindness in someone’s time of need can change the course of a life and create an unexpected friendship or loyalty。Everyone has dreams。 Do what you can to help others achieve theirs。China vs USA impending War – Thucydides trapGraham Allison， a Harvard historian， has warned that this process of rebalancing power from West to East contains a trap。As the United States steps back and China steps up， both powers， and their dependents， will feel unbalanced， out of sync with decades of history， creating a moment when the slightest misunderstanding， resentment， or offense could topple everyone into the trap of war。 It happened in the fifth century B。C。 when Athens’ rise threatened Sparta。 Hence Allison’s name for it， the Thucydides trap， after the Greek historian who wrote the defining history of the Peloponnesian War。 It happened in the twentieth century， when Germany threatened the established European order and provoked two world wars。 It could happen again if China and the United States cannot find a cooperative， trusting way to manage the shift in political power that must follow the shift in economic power that has already taken place。 。。。more
Thang Tran
，
An essential read for anyone interested in private equity and financial careers in general。 Here's a well-lived good life of a man with great and vast impacts on American and global economy and affairs。 I can't identify with his very privileged upbringing and prestigious education， but his rules for success demonstrated through his life and career with Lehman brothers and Blackstone， spanning over and making through major financial crises， are very much worth reading。 Success doesn't come withou An essential read for anyone interested in private equity and financial careers in general。 Here's a well-lived good life of a man with great and vast impacts on American and global economy and affairs。 I can't identify with his very privileged upbringing and prestigious education， but his rules for success demonstrated through his life and career with Lehman brothers and Blackstone， spanning over and making through major financial crises， are very much worth reading。 Success doesn't come without tradeoffs and moments of vulnerability which he takes courage in telling us: his missed out dinner time with his children， his failed first marriage。 This book will give you a sense of what it takes to succeed in a very tough， competitive environment and not giving up to the power of money and wealth。 。。。more
Muhammad Saad
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A pretty interesting window into the founding of Blackstone。
Luis Cortez
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I liked it。 Schwarzman shows how excellence is achieved， through his interesting journey。 All the people he met and all of the work he's done to achieve success is amazing。 I liked it。 Schwarzman shows how excellence is achieved， through his interesting journey。 All the people he met and all of the work he's done to achieve success is amazing。 。。。more
AH
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Very insightful into his first few years of life and the early years of Blackstone。 The bits at the end about his involvement in trade negotiations and work for the Trump administration I found a bit tricky to take in
Luke
，
Fun anecdotes。 Fairly promotional， but good nonetheless。
Jammie。P
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The book is more of a business memoirs for Blackstone than for Schwarzman。 Deals that Steve talked about in the book was intriguing。 I first learned about LBO in a book about Warren Buffett， but in this book， there are a lot more interesting deals like the acquisition of hotels， amusement parks or real estates， and the rationale behind the deals。 Finance involved a lot more creativities than I would have expected， like how one packages and sells a product ， but of course the creativity would hav The book is more of a business memoirs for Blackstone than for Schwarzman。 Deals that Steve talked about in the book was intriguing。 I first learned about LBO in a book about Warren Buffett， but in this book， there are a lot more interesting deals like the acquisition of hotels， amusement parks or real estates， and the rationale behind the deals。 Finance involved a lot more creativities than I would have expected， like how one packages and sells a product ， but of course the creativity would have to be properly regulated to protect the investorsIt is interesting to learn about the 2008 financial crisis from an insider's perspective。 For example， apart from the subprime， the accounting standard introduced after Enron scandal also played a role in the market free fall。 The short-term fluctuations of the subprime portfolios that are meant to be held over a longer period directly affected the financial performance of the financial institution。 The record loss of the bank brought concern over the health of banks and fuel the market fear。I thought Lehman went bursted because most of their assets were related to subprime， but it turned out that for all the assets held by Lehman， around $25 billions was linked to bad real estate loans while the remaining $650 billions was healthy and making plenty of money。 By splitting the real estate business， the firm could have been saved。 Throughout the book， lots of deals were done because they happened to know the potential buyers and sellers。 Relationship seems to matter quite a lot in finance and especially deals because that determines how quickly one is able to quickly identify potential buyers and sellers to sell or buy from。 。。。more
Brian Sachetta
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I went into this one fairly blind; I merely bought it at the recommendation of several friends and podcast hosts。 I was excited to hear of Schwarzman’s approach to life and investing。 In the end， I’m definitely not mad that I bought it， but I do think it missed the mark a little bit。 Here’s why I felt that way。The book itself is a little slow。 Though the subtitle suggests “lessons in the pursuit of excellence，” I think a better subtitle for this one would be “a history of dealmaking in my life a I went into this one fairly blind; I merely bought it at the recommendation of several friends and podcast hosts。 I was excited to hear of Schwarzman’s approach to life and investing。 In the end， I’m definitely not mad that I bought it， but I do think it missed the mark a little bit。 Here’s why I felt that way。The book itself is a little slow。 Though the subtitle suggests “lessons in the pursuit of excellence，” I think a better subtitle for this one would be “a history of dealmaking in my life and companies。” That is， instead of countless digestible lessons， we get stories from Schwarzman’s career。Some of those stories are interesting， while some of them are less so （or too long）， in my opinion。 Since they’re mostly from the private equity side of things， your interest in them may come down to how interested you are in PE in general。Though there were some life lessons peppered throughout， the bulk of those lessons didn’t come until the epilogue， where they felt hastily thrown in （in the form of a 25 point list） at the last minute。 I thought that list could’ve been more tactfully scattered throughout the entire book or could’ve laid the foundation for the manuscript itself。 Oh well。So， while this book definitely has its good moments， I think those in the private equity space will find it much more interesting than those who are not。 And， just to be clear: this one is most certainly not a general self-help / personal development book。 If you think it’s going to be， like I sort of did， you’ll likely find yourself slightly disappointed at the end of it。-Brian SachettaAuthor of “Get Out of Your Head” 。。。more
Dayaanan Muthukrishnan
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Great lessons on achieving success in life。 The book was a bit self-indulgent at times， but nonetheless provided a great variety of stories and personal accounts that make you realise why Schwarzman （and Blackstone） is as successful as he is。
Vishwajeet
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Mind Boggling 🤩
Harry Liu
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Bragging After BraggingI learned to be prepared for unexpected opportunities。 Be aware of business cycles。 Other than that， this book is about bragging himself and his company。
Princess under cover
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OK I'm calling it quits。 Not bc the book is bad， bc it's pretty good。 But I just can't let it sit on my shelf until it gets finished totally。 I'm about 2/3 thru at this point。。。 Will get to it when I get to it。It was good。 See updates below。 Schwarzman is the type of corp rockstar I don't even understand， but the tale is written in a common lingo practical kind of way that I followed。 So kudos for that！ The star himself has a compelling （if not relatable） personality， so that was nice。Would rec OK I'm calling it quits。 Not bc the book is bad， bc it's pretty good。 But I just can't let it sit on my shelf until it gets finished totally。 I'm about 2/3 thru at this point。。。 Will get to it when I get to it。It was good。 See updates below。 Schwarzman is the type of corp rockstar I don't even understand， but the tale is written in a common lingo practical kind of way that I followed。 So kudos for that！ The star himself has a compelling （if not relatable） personality， so that was nice。Would rec it for anyone in this space or anyone interested in business stars。 。。。more
George Iruobe Orhewere
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This review has been hidden because it contains spoilers。 To view it， click here。 awesome。 a real life of excellence as its primary objective。 Lessons learned too numerous to count
Alexandra Korman
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Inspirational Very interesting insight into the world of finance， trading。 I recommend to everyone who wants to raise by seeking and using opportunities
Madison
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Too much of a biography about Schwartzman and not enough "lessons"Schwarzman’s 25 Rules for Work & LifeIt’s as easy to do something big as it is to do something small， so reach for a fantasy worthy of your pursuit， with rewards commensurate to your effort。The best executives are made， not born。 They never stop learning。 Study the people and organizations in your life that have had enormous success。 They offer a free course from the real world to help you improve。Write or call the people you admi Too much of a biography about Schwartzman and not enough "lessons"Schwarzman’s 25 Rules for Work & LifeIt’s as easy to do something big as it is to do something small， so reach for a fantasy worthy of your pursuit， with rewards commensurate to your effort。The best executives are made， not born。 They never stop learning。 Study the people and organizations in your life that have had enormous success。 They offer a free course from the real world to help you improve。Write or call the people you admire， and ask for advice or a meeting。 You never know who will be willing to meet with you… Meeting people early in life creates an unusual bond。There is nothing more interesting to people than their own problems。 Think about what others are dealing with， and try to come up with ideas to help them。Every business is a closed， integrated system with a set of distinct but interrelated parts。 Great managers understand how each part works on its own and in relation to all others。Information is the most important asset in business。 The more you know， the more perspectives you have， and the more likely you are to spot patterns and anomalies。When you’re young， only take a job that provides you with a steep learning curve and strong training。 First jobs are foundational。When presenting yourself， remember that impressions matter。 The whole picture has to be right… Be on time。 Be authentic。 Be prepared。No one person， however smart， can solve every problem。 But an army of smart people talking opening with one another will。People in a tough spot tend to focus on their own problems， when the answer usually lies in fixing someone else’s。Believe in something greater than yourself and your personal needs。 It can be your company， your country or a duty for service。Never deviate from your sense of right and wrong。 Your integrity must be unquestionable。 It is easy to do what’s right when you don’t have to write a check or suffer any consequences… Always do what you say you will， and never mislead anyone for your own advantage。Be bold。 Successful entrepreneurs， managers and individuals have the confidence and courage to act when the moment seems right。 They accept risk when others are cautious and take action when everyone else is frozen， but they do so smartly。Never get complacent。 Nothing is forever… Your competition will defeat you if you are not constantly seeking ways to reinvent and improve yourself。Sales rarely get made on the first pitch。 Just because you believe in something doesn’t mean everyone else will。 You need to be able to sell your vision with conviction… Don’t be afraid to ask for what you want。If you see a huge， transformative opportunity， don’t worry that no one else is pursuing it。 You might be seeing something others don’t。 The harder the problem， the more limited the competition， and the greater the reward for whomever can solve it。Success comes down to rare moments of opportunity。 Be open， alert， and ready to seize them。 Gather the right people and resources; then commit。Time wounds all deals， sometimes even fatally。 Often the longer you wait， the more surprises await you。 In tough negotiations especially， keep everyone at the table long enough to reach an agreement。Don’t lose money！！！Make decisions when you are ready， not under pressure… You can almost always say， “I think I need a little more time to think about this。”Worrying is an active， liberating activity。 If channeled appropriately， it allows you to articulate the downside in any situation。Failure is the best teacher in an organization。 Talk about failures openly and objectively。 Analyze what went wrong。 You will learn new rules for decision making and organizational behavior。Hire 10s whenever you can… They also attract and hire other 10s。 You can always build something around a 10。Be there for the people you know to be good， even when everyone else is walking away。 Anyone can end up in a tough situation。Everyone has dreams。 Do what you can to help others achieve theirs。 。。。more
Seth Teel
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