What It Takes
Lessons in the Pursuit of Excellence
What's it about
Ever wonder what separates the good from the truly exceptional? Discover the blueprint for building an empire and achieving peak performance, whether you're launching a startup, leading a team, or simply striving for personal excellence. This is your guide to thinking bigger and outmaneuvering the competition. You'll learn the core principles that helped Stephen Schwarzman build Blackstone, one of the world's leading investment firms. Uncover his practical frameworks for spotting opportunities, negotiating high-stakes deals, recruiting world-class talent, and turning every setback into a strategic advantage on your own path to success.
Meet the author
Stephen A. Schwarzman is the Chairman, CEO, and Co-Founder of Blackstone, one of the world's leading investment firms with over a trillion dollars in assets under management. From his start with a two-person team, he built a global institution by relentlessly pursuing excellence and empowering talented people. In his book, Schwarzman distills the hard-won principles and frameworks he developed over a legendary career in finance and philanthropy, offering a blueprint for anyone aspiring to build, lead, and achieve more in their own lives.
The Script
In 2011, the musician and fashion designer Rihanna found herself in a Dublin field, filming a music video. When the local farmer who owned the land saw what he considered overly suggestive behavior, he drove his tractor into the middle of the set and shut down the entire multi-million dollar production. It was a bizarre, public clash between a global pop culture machine and a single, unmovable individual. Yet, for Rihanna's team, it was just another problem to solve. The shoot was salvaged, the video released, and the hit single, ‘We Found Love,’ became one of the biggest of her career. This is the unglamorous reality behind massive success: a relentless series of high-stakes, unpredictable problems that must be solved, one by one, with no guarantee of a good outcome.
This cycle of facing down one seemingly insurmountable challenge after another is the world Stephen A. Schwarzman has inhabited for decades. He didn't just stumble into success; he built a framework for anticipating, analyzing, and overcoming obstacles that others saw as deal-breakers. As the co-founder of Blackstone, one of the world's largest investment firms, he has been at the center of deals that reshaped entire industries. After years of being asked for his secrets—by presidents, entrepreneurs, and students alike—he decided to codify the principles he developed through a lifetime of navigating these high-stakes negotiations and crises. He wrote What It Takes as a playbook for anyone who wants to turn ambitious goals into reality, distilling the hard-won lessons from a career spent making the impossible happen.
Module 1: The Myth of Positive Thinking and the Power of Neutrality
We’re often told to "think positive." But what happens when you’re down 16-0 in a championship game, or your biggest client just pulled their account? Positive thinking can feel delusional. Moawad argues that it's an unreliable strategy because it often clashes with reality. Negative thinking, on the other hand, is a self-fulfilling prophecy. It always works, but only in the wrong direction.
This brings us to a more powerful alternative. Neutral thinking is the most effective strategy for high-pressure situations. It’s about stripping away emotion and judgment. You don’t tell yourself you’re going to win. You don’t tell yourself you’re going to lose. You simply assess the facts. Think like a pilot during an emergency. They don't panic or hope. They follow a checklist. They ask: "What is the situation? What is the plan? What is the next step?"
For instance, during the 2014 NFC Championship, quarterback Russell Wilson threw four interceptions. His team was down 12 points with less than five minutes left. Instead of spiraling into negativity or forcing false optimism, he thought neutrally. He focused on the facts: the score, the time remaining, and the next play. He led his team to a stunning comeback victory. This is neutral thinking in action. It’s a skill you can build. It keeps you grounded in reality and focused on what you can control.
And here's the thing. This applies to everyone, not just athletes. Imagine a difficult conversation with your boss. Instead of fixating on your anxiety or resentment, you can think neutrally. What are the facts of the situation? What is the goal of this meeting? What is the first thing I need to say? By focusing on the process, you strip the emotion out and regain control.