Avid Reader Press / Simon & Schuster What It Takes: Lessons In The Pursuit Of Excellence

I am only half way through this book however the enthusiasm Stephen has for his work and the tenacity to explore, learn and change shows that we can all be winners if we try hard enough.

Buena filosofía de vida.

Non recensisco il libro, per questo ci sono altri siti. Prodotto conforme, consegna Amazon ottima, nessun problema.

Trying to be objective as possible here: It’s essentially a biography mixed in with tidbits of advice. For other financial readers, it reminds me of a mix between Michael Lewis’ Liar’s Poker (for the entertaining story) and Ray Dalio’s Principles (for the sage advice). Some complain that it’s not really a biography, that stories are non-chronological (which honestly it is, Steve just jumps from one topic to another - Maybe talking about Blackstone in one paragraph to then talking about personal events in another, but they’re all generally chronological. Sometimes he does do flashbacks); Others say that it’s not really a hand guide of “What it Takes” and, therefore, the book is mislabeled.In my opinion, Schwarzman’s What It Takes: Lessons in the Pursuit of Excellence, is a good mix between a traditional biography, in-depth business stories that are engaging, and valuable pieces of advice here and there. Honestly, what else is it supposed to be? I haven’t heard Schwarzman is planning on writing another book, so this was the single piece of writing to capture all of his life. Simply put, I loved it. I started it over the Thanksgiving holiday and finished it that Sunday. I honestly had a difficult time putting it down.Some say Schwarzman is pompous throughout the writing, and I have to concur - to a certain degree. One has to remember that Steve grew up fairly humble in Philadelphia, helping his parents run their linens store as a kid before they were able to move to a better part of the city and, in-turn, send Steve to a better public high school in the district. Having done very well academically and attending States for Track, he would attend Yale since he was rejected by Harvard. That was 1965. Later on in the book, Steve references things that most people wont be able to experience in their life: Meeting heads of state, taking flights to places like Egypt for an important dinner, and quite literally creating his own University.While I can see the point of view as this coming off as pompous, if I had Steve’s life, I would have written the book the same exact way. Not many people get to experience such unique events, so it makes sense to document them. Besides, Schwarzman quite literally worked for it all himself. Who wouldn’t want to talk about their successes when they grew up poor and is now one of the wealthiest people alive?If you’re looking for a great business book that’s engaging, easy to read, filled with good advice, and reaffirms that the American Dream is alive, then Steve Schwarzman’s What It Takes, is it.

Couldn't put this book down. A great life story and business success story. Very interesting reading even about current events with his involvement in the 2018/2019 North American trade agreement and the US / China trade dispute.

Rags to riches is an adage. When the economy or business cycle takes an unexpected and swift downturn, as often it happens, we have stories of riches to rags. The story of Blackstone, cofounded by Stephen Schwarzman is about building great institutions that can not only survive, but also thrive with every challenge. Schwarzman shares with us this fascinating story, with candour and courage, deep insights, and personal notes, with lessons on learning, leadership, love, and a legacy to be proud of.Schwarzman belongs to a middle-class Jewish family in suburban Philadelphia, brought up in 1950’s, absorbing the core values of integrity, straightforwardness, and hard work. As a kid, he was paid ten cents per hour for folding handkerchiefs at the family’s linen shop. Unhappy with his pay, he once asked his grandfather for a raise to twenty-five cents an hour. “What makes you think you’re worth twenty-five cents an hour?’’ came the reply. There was no entitlement to higher wages just because the family owns the business.Steve’s keen interest in athletics earns him a seat for undergraduate study at Yale. The story of Coach Armstrong training the team even in harsh winter, and Steve’s kind gesture in gifting a pair of Adidas spikes to his relay teammate Bobby, who could not afford to buy one, are clear examples of leadership, teamwork and the spirit of giving and sharing that are exemplary virtues.Schwarzman builds Blackstone on the solid twin principles of Excellence and Integrity. Excellence for him is giving 100 percent on everything. A five percent underperformance could mean a hue setback to investors in a hypercompetitive and uncertain business environment. Integrity is the true middle-class values of honesty, hard work, respect for others and always doing what you say you will. This requires courage. In the real estate business, there are multiple ways of presenting property values, depending on whether it is to the investor, or tax authorities or to someone else. Blackstone puts an end to this dubious practice and always presented the one true value. Yet, it emerged phenomenally successful in the real estate business that is plagued by nefarious practices throughout the world. Truth alone Triumphs.Hiring the best people is a non-negotiable at Blackstone. Mediocrity and complacency are prescriptions for disaster. Blackstone’s management team has been with them for eighteen years on average and the tenure of senior managing directors is ten years or more. “Such longevity is rare in the financial services industry”, says Schwarzman.The final chapters are about giving back to society. “I have long believed that education is a passport to better lives. A good education has the power to affect whomever it touches for the better” he says. His liberal donations to Tsinghua University, Yale, MIT, and Oxford are aimed at creating a better world for the next generations through quality education cutting across continents, cultures, and technologies.In the spring of 1987, when Schwarzman and his co-founder Pete Peterson went to MIT to raise seed money for Blackstone, the only person whom they could meet was the janitor. “Oh. It’s Friday. They have left a while ago,” he said. Steve and Pete came back empty handed and fully drenched in the unexpected heavy rain.October 2018, MIT Campus. It was final day of MIT’s three-day event to launch Stephen A. Schwarzman College of Computing covered by CNBC for global live streaming.As Schwarzman leaves the stage, Rafael Reif, President of MIT leans in: “Wow, I’ve never seen that before in my almost thirty years at MIT.’’Schwarzman: “What was that?”.Reif: “A standing ovation.”Fortunately, Steve was denied twenty-five cents an hour by this grandfather. He was destined to build a fortune, with Excellence and Integrity.