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What does it take to build a multi-billion-dollar business, influence world leaders, and redefine the boundaries of finance and philanthropy? In What It Takes, Stephen A. Schwarzman—co-founder and CEO of Blackstone, the world’s largest alternative investment firm—pulls back the curtain on the mindset, strategy, and unrelenting drive that fueled his rise from middle-class beginnings to global business titan.

This is not just a memoir; it’s a masterclass in ambition, leadership, and decision-making at the highest levels. Whether you’re launching your first startup or scaling a Fortune 500 company, Schwarzman’s lessons cut across industries and speak to anyone who wants to operate with clarity, conviction, and courage in the face of risk.

Through gripping stories of deal-making, mentorship, failure, and resilience, What It Takes lays out the principles that separate the merely good from the truly great. It’s a blueprint for how to think bigger, move faster, and lead smarter in a complex world.

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Top 10 Lessons from What It Takes by Stephen A. Schwarzman

1. Think in Decades, Not Just Quarters

Success isn’t built on short-term wins—it’s built on long-term vision. Schwarzman emphasizes the importance of patience and strategic thinking when building something that lasts.

2. Learn to Be Comfortable with the Unknown

The biggest opportunities often come disguised as uncertainty. Leaders must learn to make bold decisions even when the path ahead isn’t clear.

3. Surround Yourself with People Smarter Than You

Talent attracts talent. Schwarzman credits much of Blackstone’s success to hiring people who challenged him, complemented his weaknesses, and elevated the firm’s standards.

4. Don’t Fear Rejection—Learn From It

From being turned down at Lehman Brothers to early business rejections, Schwarzman used every “no” as a learning moment. Resilience turns rejection into momentum.

5. Focus on Scale if You Want to Make a Global Impact

Small ideas can’t change the world. Schwarzman encourages entrepreneurs to solve big problems and think globally from day one.

6. Be Ruthlessly Disciplined With Time

Time is the most valuable asset of any leader. Schwarzman meticulously manages his calendar and advocates prioritizing what truly moves the needle.

7. Learn the Art of the Deal—It’s About More Than Numbers

Great deals aren’t just about valuation. They’re about relationships, timing, and deeply understanding both sides’ motivations.

8. Integrity Is Non-Negotiable

A single ethical lapse can destroy decades of trust. Schwarzman underscores that excellence without integrity is unsustainable.

9. Philanthropy Is Leadership at a Higher Level

Giving back isn’t an afterthought—it’s a responsibility. Schwarzman shares how his philanthropic work has become a meaningful extension of his values and influence.

10. Never Stop Reinventing Yourself

Even after reaching the top, Schwarzman pushes for reinvention. Whether it’s expanding Blackstone into new markets or launching education initiatives, the journey of growth never ends.

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Conclusion:
What It Takes isn’t just the story of building Blackstone—it’s a timeless guide for anyone pursuing excellence on their own terms. Stephen A. Schwarzman’s wisdom blends strategy with character, showing that success at the highest level is about vision, resilience, and relentless self-belief. Whether you’re a founder, investor, or future leader, this book gives you the tools—and mindset—to think big and act boldly.