I wasn’t satisfied just to earn a good living. I was looking to make a statement.
Donald Trump
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Donald Trump
If you’re one of the thousands of small business owners and entrepreneurs who have had to close shop since the recession began you’re in good company. And, although they probably have better hair than you do, more than a few celebrities have experienced personal business failures, too. Only they tend to have more to lose – and they have to eat way more crow.
The Real World
Lauren Conrad hoped to parlay her MTV “The Hills” fame into high fashion success, launching the Lauren Conrad Collection in March 2008. The new venture barely got off the ground; it was shut down this spring. At least she can take comfort in knowing that her famed “frenemy”, Heidi Montag, suffered the same fate. Her barely-there clothing line - Heidiwood - also tanked just seven months after its launch.
Investors Put the Squeeze on Somersized Venture
Suzanne Somers, best known as the blond, beautiful and often bubble-headed ”Chrissy” on the 1970s TV show Three’s Company, made a bundle with her uber-successful Thigh Master, but didn’t find as much support for ”Suzanne’s Kitchen” – a make-it-yourself meal preparation franchise that provided ingredients and recipes from Somers’ cookbooks. The business was open for less than three months before changes in the business plan and a disagreement with investors led to a quick closing.
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Forbes pose twenty two questions for real estate tycoon Donald Trump, check it out:
Net Worth: $2 billion
Age: 63
Source of Wealth: Real estate
What’s the biggest business blunder you’ve ever made, and what did you learn from it?
Buying a yacht. It was an investment I couldn’t wait to get rid of.
What’s the one thing every first-time entrepreneur should know?
They should be prepared to go it alone–being an entrepreneur is not a group effort. It requires everything you’ve got.
What’s the last book or article you read that you’d recommend to other entrepreneurs?
Edward de Bono’s Six Thinking Hats thoroughly covers the process of thinking, and it’s a way to avoid blind spots if you are thinking alone. He coined the expression “lateral thinking,” and this book provides a comprehensive approach to using your brain in an efficient and effective way.
What one job should every person have to do at least once in their life?
Work in an emergency room, or observe one.
How do you know when to keep fighting or to cut bait?
That’s an instinct that can be developed, but it’s definitely an instinct that we all have. Paying attention to the signals is what is important–and heeding them.
Will/should the U.S. have universal health care?
That very much depends on how it is handled at the core level–which is extremely complex at this point. It’s not clear enough yet.
Rest of the interview when you Read More…
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These days confidence is hard to come by. But that’s certainly not the case for Donald Trump and he says it shouldn’t be for any of us. Among the advice in his latest book “Think Like a Champion,” the chairman and president of The Trump Organization, says that everyone should confront their fears.
But don’t act too hastily. Trump cites an old German proverb encouraging caution: “fear makes the wolf bigger than he is.” He stresses throughout the book that how we label a problem can have a significant impact on our ability to tackle it. Check out Trumps interview with associate press below:
In a recent interview at his offices in Trump Tower, Trump spoke about his new book and offered some thoughts on the real estate and the job markets, which are both still languishing. Here are some excerpts from the conversation.
Q: We’re obviously in a challenging economic time, why this book now?
A: Well when I began writing the book, the times were really better from the world economy standpoint. But I really felt that this was, in retrospect, a great time to write a book about thinking like a champion, because people have to think like a champion. Times have been tough for a lot of people.
Q: You touched on hard times. The unemployment rate’s above 8 percent, so many people are thinking about striking out on their own. Is now a good time to explore becoming an entrepreneur?
A: There are a lot of opportunities now that you’ll never see again. You can buy things today that, frankly, you couldn’t have even thought about buying even a couple of years ago. So in a way, this is a great time to strike out. And in some cases you really don’t have a choice, because people have lost their jobs they have to go out and do things for themselves. I think this is a good time to go out and make a lot of money.
Q: In your book you distinguish between fears and concerns. There continues to be a lot of anxiety out there, so tell me more about what you mean.
A: When you have some fear in your life, that’s not the worst thing in the world — because it equates to caution. And what you need today more than anything else is caution — you have to know what you’re doing, you have to know your subject. But because of the horrible economic times, you have to be cautious. And using fear to your advantage can be a good thing.
Rest of the interview when you Read More…
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I was doing my daily wed searching and I came across this post on here on Hub Pages posing the question “Is Donald Trump A Significant Business Tycoon?” In the post they high light the bullets below then ask are these that significant:
The Trumpster’s Accomplishments
Here’s my list of Donald Trump’s significant accomplishments:
- Leveraged his father’s mini-empire in real estate to create a global brand around the Trump name
- Made The Apprentice one of the most viewed reality shows in the U.S. … and helped to spawn an International franchise that stretches to Africa, the U.K., and Brazil
- Created a licensing powerhouse built around the Trump name
- Captured the minds of pop-culture media, wannabee real estate Tycoons, and the general public, with his arrogant, risk-taking, swash-buckling style Ok.
So back to the question:
Has Donald Trump created something truly significant in the business world?
- He built some fabulous real estate properties, including casinos and hotels. But he didn’t build the casino or hotel industry in either – Las Vegas or Atlantic City.
- He became rich and famous … but others became richer and more famous before him.
- He became the most successful carnival-barking business mogul of the last 25 years, maybe of all time!
In other words, dude sure knows how to promote and market. He turned the Trump name into a valuable global asset. And that’s not a small accomplishment considering his business troubles over the years.
But for me, his true significant accomplishment is becoming the most popular (and perhaps most reviled) pop-culture Business Icon in history. He helped to enhance the image of the entrepreneur as a cool, risk-taking pirate!
I think that Donald’s biggest significant to the business world is his ability to motivate and inspire others to be reach for their goals with tenacity. His contributions to revelutionizings specific markets in the business world may not be as big as a Bill Gates of Microsoft or a Sandy Weill of Citi Group but that shouldn’t minimize his impact to attract young men and women to want to follow in his steps. So with that being said I think that he is very significant.
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Trump well known for being the real estate mogul and Kiyosaki the brains behind the Rich Dad Poor Dad book brand bump heads and come together for a book for the ages. “Why We Want You To Be Rich” is a classic if you ask me, these two moguls give the blue print to finances for the average person looking for finnancial independency in the new millennium. This is a must have people check out the interview and go snatch a copy and really read it ALL THE WAY THROUGH; NOT SOME OF IT OR HALF, THE WHOLE BOOK. DON’T FEEL BAD I’M GUILTY OF IT TO BUT I DID FINISH THIS ONE. LEARN ABOUT IT!!
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GAIN LEVERAGE
“The difference between the rich, poor, and middle class is leverage…the ability to do more with less. If you want to become rich you need to invest in the greatest leverage of all your mind. Most savers do not use leverage. And you should not use leverage unless you have the financial education and financial training to apply it.”
“10% of borrowers in the world use debt to get richer. 90% use debt to get poorer…For many people, debt is bad and getting out of debt is smart. Yet…you can get ahead faster using debt as leverage. But again…first invest in your financial education before you invest with debt.”
“Leverage is the key to great wealth…Your mind – your financial education – is your greatest lever of all.” “Investing isn’t for everyone, but it’s like any skill – once you try it and learn about the results, it can be surprisingly exciting.”
“There are only two things you can invest: time and money…Since most people do not invest much time, they lose their money.” “In business and investing, I am a fanatic about practice and preparation. I practice to reduce risk. I improve my skills to reduce risk. I study to reduce risk.”"Entrepreneurship is not risky. Being unprepared is risky.” There are many ways that you can use leverage two examples are your ideas thinking outside of the box and building strategic alliances to bring your ideas to reality. Review how you are using leverage in your life today and make a list of:
-Other peoples time being used for your benefit
-Other peoples money being used for your benefit
-How you might increase the use of leverage inyour life?
-How you see others using leverage in their life?
-Could you see your self doing what they do?
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