Schwarzman's 25 Rules for Work & Life
I have often called myself the "great aggregator," as I don't provide many original ideas but rather consume other people's ideas and collate what I believe are the best ideas or most applicable to the situation.
Many of the ideas I share come from the books I read. I don't often share full book reviews because I don't feel that my summary is as good as the book itself. The way I summarize a book also makes sense to me, and I'm not sure my thoughts are always as valuable others.
I recently read What It Takes by Stephen A. Schwarzman, who has experienced incredible professional success. In his book, he outlines his 25 Rules for Work and Life, which I found to be very insightful. The following list is in Schwarzman's own words, though a few rules have been shorted to focus on what I found most beneficial.
Schwarzman's 25 Rules for Work & Life
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.
The best executives are made, not born. They never stop learning. Study the people and organizations in your life that have had enormous success. They offer a free course from the real world to help you improve.
Write or call the people you admire, and ask for advice or a meeting. You never know who will be willing to meet with you... Meeting people early in life creates an unusual bond.
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.
Every business is a closed, integrated system with a set of distinct but interrelated parts. Great managers understand how each part works on its own and in relation to all others.
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.
When you're young, only take a job that provides you with a steep learning curve and strong training. First jobs are foundational.
When presenting yourself, remember that impressions matter. The whole picture has to be right... Be on time. Be authentic. Be prepared.
No one person, however smart, can solve every problem. But an army of smart people talking opening with one another will.
People in a tough spot tend to focus on their own problems, when the answer usually lies in fixing someone else's.
Believe in something greater than yourself and your personal needs. It can be your company, your country or a duty for service.
Never deviate from your sense of right and wrong. Your integrity must be unquestionable. It is easy to do what's right when you don't have to write a check or suffer any consequences... Always do what you say you will, and never mislead anyone for your own advantage.
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.
Never get complacent. Nothing is forever... Your competition will defeat you if you are not constantly seeking ways to reinvent and improve yourself.
Sales rarely get made on the first pitch. Just because you believe in something doesn't mean everyone else will. You need to be able to sell your vision with conviction... Don't be afraid to ask for what you want.
If you see a huge, transformative opportunity, don't worry that no one else is pursuing it. You might be seeing something others don't. The harder the problem, the more limited the competition, and the greater the reward for whomever can solve it.
Success comes down to rare moments of opportunity. Be open, alert, and ready to seize them. Gather the right people and resources; then commit.
Time wounds all deals, sometimes even fatally. Often the longer you wait, the more surprises await you. In tough negotiations especially, keep everyone at the table long enough to reach an agreement.
Don't lose money!!!
Make decisions when you are ready, not under pressure... You can almost always say, "I think I need a little more time to think about this."
Worrying is an active, liberating activity. If channeled appropriately, it allows you to articulate the downside in any situation.
Failure is the best teacher in an organization. Talk about failures openly and objectively. Analyze what went wrong. You will learn new rules for decision making and organizational behavior.
Hire 10s whenever you can... They also attract and hire other 10s. You can always build something around a 10.
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.
Everyone has dreams. Do what you can to help others achieve theirs.