Guide discussions on Chapter 3 of the Book “What it takes: Lessons in the pursuit of Excellence” by Stephen Schwarzman
In this blog, let us explore the ideas of a successful business icon Stephen Schwarzman in the top traits of a successful investor. As a leader and CEO of the Blackstone company, Schwarzman’s experience and wisdom in business inspires new and experienced investors alike.
The book club panelists Brent Mott, Michael Gefteas, Jon Yu and Joseph Dela Cruz, all accomplished real estate investors, share their views regarding the book “What it takes: Lessons in the pursuit of Excellence”. In relation to this book, here are the synthesis elicited from the guide discussions as regards to the top traits of a successful real estate investor:
Real estate investing is not just a business but a life-changing experience. Through this field, you have the chance to help the distressed sellers in their financial difficulties; and the buyer to make his dream house come true. As such, you need to believe in yourself before making others believe in you.
Schwarzman’s book suggests that investors must be comfortable in being uncomfortable. The state of being uncomfortable is a manifestation that you are exploring new things. You must not lose the curious child within you; always be excited and learn new things. You must always explore the possibilities and do not limit yourself within your comfort zone.
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Emotional stability means that you must be ready and flexible in handling things despite different situations. There are a lot of circumstances that may happen beyond your calculations. You must maintain emotional stability under pressure by balancing your emotions and sound assessment.
Integrity and Courtesy
As a real estate investor,you must maintain an unwavering commitment to integrity and to your goals. As you take responsibility for your actions, you will establish a trustworthy character and there will be better chances that potential clients will repose their trust in you. Integrity and courtesy, as part of work ethics, will trickle down to having more negotiations and possibilities of winning more deals.
Striving for excellence
You must always dream big and strive for excellence to grow in your business. If you will take each day as a new opportunity to learn, you will be able to understand more investing strategies which you may use in your future transactions.
About the author: Stephen Schwarzman is the CEO and co-founder of Blackstone. He is a philanthropist who founded the Schwarzman Scholars.
Panelists: Providing us with the reading insights are experienced investors Brent Mott, Michael Gefteas, Jon Yu and Joseph Dela Cruz.