Ten lessons from a billionaire
Posted May 26, 2010on:
Donald John Trump (born June 14, 1946) is an American Business tycoon, author and television personality. He is the Chairman & CEO of the Trump Organization, a US-based real-estate developer. In its October 7, 2007 Forbes 400 issue, “Acreage Aces,” Forbes valued Trump’s wealth to $3.0 billion. Here are some answers provided by Mr. Trump from which we can learn (extracted from his book: Never Give up!)
1. What is the most important characteristic of a good leader?
Discipline. It helps if everyone has it, but if a leader doesn’t, he or she won’t be one for very long.
2. What are the most important steps for someone who intends to be successful?
Do your homework. In other words, learn everything you can about what you want, know what you are up against, and research every aspect of your endeavor. Talk to all the experts you can find. It can’t be a hit or miss approach. The odds are already against you, so don’t make it harder on yourself by being negligent.
3. What will distinguish the leaders of tomorrow in the real estate industry?
Those who have both vision and discipline will succeed. One is useless without the other. With both, you have a chance of becoming a leader, provided you’ve learned and sharpened your instincts through your experiences.
4. What do you like about your job?
Everything. Every day is a challenge, and every day is great.
5. What advice do you have for someone who wants to start his own business?
Be ready for problems—you’ll have them every day. Keep your focus no matter what and be as big as your daily challenges. Never give up!
6. What if things don’t work out the way we want, even if we work really hard?
First of all, know that you’ve got a lot of company. I’ve waited 30 years to see some things happen. Some people have waited longer. Always consider that it’s possible you might be doing the wrong thing, so that no matter how hard you work, it’s just not going to happen. Make sure you’re doing what is right for you. You have to love doing it. Then be tenacious.
7. Where do you get your ideas?
The world inspires me, and keeping up with world events can give you a lot of ideas. In this age of technology, we have access to more and more information at a faster pace than ever before, and I find that exciting. I keep an open mind and that’s a good way for ideas to start happening.
8. Do you ever fear that you might fail at something?
I have a pretty good track record of successes by now, but failure is always a possibility. I am cautious but not fearful. There’s a difference. It’s important to be circumspect— know that the possibility of success is there as well as failure. Risk plays a part in everything we do. I could get hit by a bus while I am crossing the street. Things happen. Don’t let fear interfere with your plans.
9. What’s the best thing about being rich?
Being able to give back is a great feeling.
10. What’s the best piece of advice you can give me?
Never give up. You can accomplish more things with that attitude than anything else I can tell you.
Never give up by Donald Trump is really an interesting read. Do go through it if you find some time. Your thoughts on the above?