What It Takes

Lessons in the Pursuit of Excellence

by Stephen A. Schwarzman

4.6(3,962 ratings)

12 min read

Brief overview

This book explores the rise of a determined entrepreneur who built one of the world’s premier investment firms by staying alert to rare opportunities and forging strong relationships through trust and rigor. It takes you on a journey of ambitious deals, unexpected pivots, and bold ideas—always grounded in the core principle that success depends on preparation, adaptability, and resilience.

Introduction

Let’s begin our journey by stepping into the world of a young dreamer who always aimed high and refused to let naysayers define his limits. From early encounters with influential mentors to forming a moral compass, his story encourages us not to shy away from ambitious goals. In reading these lessons, you’ll find both practical knowledge of entrepreneurship and insight into human relationships.

We discover an individual who is not from extreme privilege but who learned early on to make do with limited means, driving him to spot opportunities in unlikely places. This sets the scene for a lifetime of forging big deals and building trust with clients, partners, and even global leaders.

In essence, the introduction reveals a mindset focused on turning challenges into stepping stones. It prepares us for core themes: the power of strategic networking, the importance of industry knowledge, and how to stay motivated despite rejection.

Humble Beginnings and Bold Ambitions

Growing up in a modest suburban environment, our main figure gained an early sense of responsibility by helping at his family’s business and finding ways to earn extra money. This upbringing instilled values of self-reliance and a readiness to create solutions rather than wait for them.

High school track—in particular, a fierce relay success—taught him about giving 100% even when circumstances felt crushing. The episode of finishing a race despite an injury highlighted that true victories often involve personal sacrifice accompanied by unshakable teamwork.

Sometimes, the best motivation comes from not wanting to let others down.

He entered college wide-eyed, grappling with new challenges such as loneliness and academic rigor. Fueling curiosity, he staged creative campus events and discovered it’s often just as easy to attempt great feats as it is to aim small—only the rewards are bigger. This philosophy would shape his subsequent choices.

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What is What It Takes about?

"What It Takes: Lessons in the Pursuit of Excellence" unveils the compelling journey of Stephen A. Schwarzman, renowned entrepreneur and co-founder of Blackstone. This book provides an immersive exploration of the traits required for entrepreneurial success, narrating an inspiring story of ambition, resilience, and strategic foresight. Through captivating anecdotes, Schwarzman underscores the importance of preparation, adaptability, and building relationships rooted in trust. These core principles are illustrated through his transformative journey in growing a premier investment firm amidst global market challenges.

Stephen Schwarzman emphasizes that an unyielding pursuit of opportunity, complemented by rigorous discipline, can shape extraordinary business adventures. Whether discussing strategic expansions or fortifying networks, his life's work is a testament to the power of clear vision paired with relentless drive. As readers navigate through his successes and setbacks, they will grasp key insights applicable to both personal and professional realms, making this narrative an essential read for anyone aspiring to excel in business and beyond.

Discover Schwarzman's unique perspective, where spotting the right questions and deftly balancing risk with innovation becomes the formula for compounded success. His legacy illustrates how strategic relationships and tenacity can catapult even the most humble beginnings into emblematic stories of triumph.

Review of What It Takes

In "What It Takes," Stephen A. Schwarzman masterfully weaves his personal narrative with business wisdom accrued over decades. The book's primary strength lies in its ability to present complex industry scenarios through an accessible lens, appealing to a wide range of readers, from budding entrepreneurs to seasoned executives.

Schwarzman's emphasis on strategic opportunity recognition provides readers with an invaluable blueprint for success. His writing, layered with practical applications, allows readers to glean insights into relationship-building, risk management, and the anatomy of a successful deal. Whether discussing the importance of resilience during market cycles or the art of forging trustful alliances, his stories carry vivid lessons shrouded in authenticity and keen observation.

The engaging prose offers a professional yet conversational tone, enabling readers to immerse themselves in real-world strategies without feeling overwhelmed by jargon. Schwarzman’s journey is both educational and inspiring. In showcasing that excellence stems from relentless curiosity and adaptability, his book ultimately urges readers to embrace innovation while maintaining grounded in due diligence. This makes "What It Takes" an essential addition to any entrepreneur's or executive's library.

Who should read What It Takes?

Aspiring Entrepreneurs: This book’s entrepreneurial insights offer invaluable lessons on turning opportunities into milestones.
Business Executives: Learn strategic insights on navigating market cycles and forging high-stake deals from a seasoned leader.
Students of Business and Economics: An accessible peek into the intricacies of private equity and investment strategies.
Lifelong Learners: Inspirational themes of resilience and adaptability provide lessons applicable beyond just business contexts.
Motivation Seekers: Imparts a mindset focused on continuous growth, perfect for readers seeking to blend ambition with grounded values.

About the author

Stephen A. Schwarzman is the co-founder, chairman, and CEO of The Blackstone Group, a leading global investment firm. He holds degrees from Yale University (1969) and Harvard Business School (1972). With over 40 years of experience in finance, Schwarzman has built Blackstone into one of the world's largest and most successful private equity firms, managing over $500 billion in assets. His book "What It Takes: Lessons in the Pursuit of Excellence" shares key lessons and insights from his career, offering practical advice on leadership, entrepreneurship, and achieving excellence.