When asked to share what he had learned over his first 80 years while addressing an investment conference back in 2013, Blackstone’s Byron Wein shared valuable insights on business and life. Here are some highlights:

• Concentrate on finding a big idea that will make an impact on the people you want to influence.
• Network intensely. There is no better way to increase your luck than by knowing as many people as possible.
• Read actively, all the time.
• Try to think of your life in phases so you can avoid a burn-out.
• On philanthropy, my approach is to try to relieve pain rather than spread joy. Social service, hospitals and educational institutions can make the world a better place.
• Take the time to give those who work for you a pat on the back when they do good work.
• At the beginning of every year, think of ways you can do your job better than you have ever done it before.
• Most people don’t become comfortable with who they are until they’re in their 40’s. Try to get to that point as soon as you can.
• Don’t try to be better than your competitors, try to be different.
• Never retire. If you work forever, you can live forever.