A man who has used ruthless business instinct, family money and a sometimes wilful disregard for convention to get where he is today, the Trump can certainly lay claim to being one of the world’s best known and most prolific money makers. Born into an exceptionally privileged background, with a father who bestowed upon him vast fortunes made by the Trump clan’s longstanding construction empire, Donald has never wanted in life and instead has been able to doggedly pursue his business objectives with no fear of failure. Still, there is much that start-ups and SMEs operating across all sectors can learn from this remarkably single-minded man. Let’s a take a look at the characteristics which define Donald Trump and other business people of his ilk.
From the beginning of his colorful career, Trump demonstrated innate business skills. Following his father into the real estate development business, Donald joined the family firm, Elizabeth Trump & Son, having graduated from Wharton School of Business in 1968. He almost immediately began making bold decisions informed by solid objectives – something that only real entrepreneurs can do. For example, he persuaded his father to be more adventurous with borrowing money in order to finance expansions of the Trump Empire. Although these decisions weren’t always successful, Trump was never afraid to give them a go and by 1971 he was in control of the family firm, which he renamed The Trump Organization. Trump’s stand-out business skill is in setting goals and pursuing them with determination. Unlike those who are working towards some vague notion of what success might be, people with clear targets in mind enjoy greater success time and time again.
Donald Trump is no one-trick pony. He’s a man of many passions and someone who has often followed his heart as well as his business sense. Past high profile projects have involved the Donald Trump casino empire, housing, hotels, leisure complexes, football, casinos and even board games! In order to develop such a diverse portfolio and operate in a large number of business areas, Trump has had to call upon considerable leadership qualities. The capacity to inspire others, to delegate important tasks, to judge who to trust and to act with confidence even when the going gets tough are all required in a true leader.
Perhaps even more than fiscal skills or the capacity to spot a valuable gap in the market, communication skills are the lifeblood of the successful entrepreneur. In this area Donald Trump is exceptionally gifted, as he’s proven at numerous political events of late. In fact, communicating with vast audiences has even become a key component in Trump’s varied career. The business tycoon has stormed the TV ratings with appearances in The Apprentice and has also put his precious words down in writing in books including The Art of the Deal, a fascinating tome that combines memoir and business guidance.
Right now, Donald Trump is one of the most famous people on the planet. As his political career soars to unimaginable heights and the world watches the reality star turned White House wannabe move ever closer to the presidency, there’s no denying that Trump’s business acumen and sheer boardroom bullishness make him someone with much to teach all aspirational entrepreneurs.