Blackstone Group Inc., co-founded and led by Stephen Schwarzman, is the largest multinational alternative investment firm in the world and specialises in private equity, credit, and hedge fund investment strategies.
In What It Takes book, Stephen Schwarzman shares the anecdotes, the insights and the rules that guide his work and life success.
I have chosen my favorite six rules that he discusses in his book. These rules, surely, made me question and reflect. Hope they do the same for you.
1. 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.
Reflection Point: How can I multiply the size of the goal I am pursuing?
2. 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.
Reflection Point: In this moment, what 2 new input I need to build on to broaden my perspective?
3. People in a tough spot often focus on their own problems, when the answer usually lies in fixing someone else’s.
Reflection Point: Whose problem can I fix right now?
4. 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.
Reflection Point: What is the bold thing I did in the past month? What’s next?
5. 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.
Reflection Point: What are the specific things I’m doing right now to make my organisation stronger and better?
6. 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.
Reflection Point: Who can I be kind to right now?
Make sure you take some time to think. Then take action aligned with your reflections.