Donald Trump: A Few Tips From the Pro

Photo Courtesy of projectlifemastery.com

When you think of entrepreneurs, a common name that comes to mind is Donald Trump. Donald Trump, born in Queens, New York, is an American businessman who began his career in real estate working for his fathers company, Elizabeth Trump and Son, which primarily worked on middle-class rental housing in New York.

 Donald Trump has grown into a successful real estate mogul. He owns Trump Luxury Real Estate, which operates the famous Trump Towers, and also a mixture of hotels and golf courses around the world.  

Donald Trump’s success as a businessman is attributed to the importance he places on the business plan. Trump says that with a business plan, there is direction and focus for your business and with out it you are bound to fail.  I can agree with that. If you do not have your goals and ideas for your company formatted, how can you measure the success of your business?

The biggest pitfall an entrepreneur can make is failing to plan at all.  Having a business plan will let potential investors know what the goals of the business are and the health of the market. Will the market be conducive to a company such as yours? That is the question that is answered with a functioning business plan.

By reading Donald Trump’s books and listening to his speeches, there are a few tips that are beneficial for any entrepreneur creating a business plan. First, discover your passion and immerse yourself into it.

 Secondly, discover who is your target market. You want to focus on people who can actually purchase and use your product. To continue, have appropriate negotiation tactics, and if a deal is not up to your standards, do not be afraid to walk away and move on. It is not to your benefit to sign a deal that you are less than pleased to sign.  You will surely regret that decision later in your business career.

If failure is inevitable, learn to deal with it and move on. If it is a possibility to turn the circumstances around, make the necessary changes to your business plan so that the business can succeed.

If you either love or hate Donald Trump, you will still agree that Donald Trump is a successful entrepreneur that is knowledgeable in the world of business.