The Goal of This Post
This post is a synthesis from the book What it Takes, by Stephen Schwarzman, sharing some of the key lessons and wisdom on building excellence in your personal and professional life.
I hope you enjoy it!
The Hook
The best executives are made, not born. They absorb information, study their own experiences, learn from their mistakes, and evolve. They never stop learning.
The Punchline
I am constantly in pursuit of excellence. I see a unique opportunity, and I go for it with everything I have. And I never give up.
1. On Personal Clarity
- If you want something badly enough, you find a way. You can create it out of nothing.
- At some point in life, we have to figure out who we are.
- How you initiate and manage change is the measure of your success.
- Devote your time and energy to the things you enjoy. Excellence follows enthusiasm.
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.
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2. On Decision Making
- Decisions are much better made through systems designed to protect business and organizations than through individuals.
- Democratize decision making and encourage intellectual engagement by everyone involved.
- Focus should be on the potential investment’s weaknesses. Everyone had to find problems that hadn’t been addressed.
- Changing your behavior in the face of changing information is always hard.
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.
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3. On Relationships
- With someone you don’t know, always be patient and keep asking questions until you find a place of common ground.
- The best way to get what you want is to figure out what’s on the mind of the person who can give it to you.
- Always be open to new experiences, even if they don’t completely fit your agenda.
- If you want to get anything done, the strength of your relationships means everything.
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 new ideas provided they are thoughtful.
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4. On Investments & Business
- Investors are always looking for great investments. The easier you make it for them, the better for everyone.
- Deals ultimately come down to a few key points that matter most to each side.
- Time wounds all deals. The longer you wait, the more nasty surprises can hurt you.
- Don’t lose money!!! Objectively assess the risks of every opportunity.
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.
All content credit goes to the author(s). I’ve shared the bits I’ve enjoyed the most and found most useful.
Cheers ’til next time! Saludos!
Alberto
Beto's Blog 