Entrepreneurs

The Success of Donald Trump

Published

8 years ago

Feb 11, 2015

Donald Trump has used a combination of persistence, determination, confidence and calculated risk taking to become a success.

Donald Trump’s estimated net worth is $4 Billion.

Donald Trump became a Billionaire through his hugely profitable real estate endeavours and is president of The Trump Organization and the Founder of Trump Entertainment Resorts.

Trump has bounced back from adversity several times to not only become a billionaire but one of America’s most well known celebrities and a TV personality.

Donald Trump’s Early Career

donald trump billionaire The son of a real estate developer Trump seemed to have been inspired to take the same career path as his father. However, Trump junior had a bigger vision of the future that his dad did. When he was still at College Trump worked for his father during the summer and then began working for his father full time after his graduation. He was responsible for the financing of an expansion of their company by persuading his father to be more adventurous when taking out loans based on the equity held in their apartment complexes. That being said, it was a competitive business and the margins were very tight.

After moving to Manhattan, New York in 1971 Donald Trump became friendly with several ‘big players’. As he became increasingly aware of economic opportunity in the city Trump played a part in large property developments that would yield high profits through the use of modern design and gaining recognition from the public.

A turning point arrived in 1974 when Trump gained an option on one of the Penn Central’s hotels, the Commodore which wasn’t turning a profit but was in a great location near Grand Central Station. Within a year Trump had sealed a partnership agreement with Hyatt Hotels who, at the time, didn’t have a large downtown hotel. After a complex deal with the city to arrange finances, abate taxes and renovate the building, the hotel opened as the Grand Hyatt and was a huge economic success which made Donald Trump the City’s most recognised and most controversial property developer.

“If you’re interested in ‘balancing’ work and pleasure, stop trying to balance them. Instead make your work more pleasurable.” – Donald Trump

The Growth of an Empire

donald trump billionaire Trump leased a site on Fifth Avenue adjacent to the famous Tiffany & Company in 1979. This was to be the location for the huge apartment-retail complex designed by Der Scutt and was to cost $200 Million. The aptly named ‘Trump Tower‘ opened in 1982 with fifty eight stories complete with six story atrium lined with pink marble and an eighty foot waterfall. Trump gained nationwide attention when the luxurious building attracted world-renowned retail stores and celebrity renters.

This was not Trump’s only project at the time, he was also researching the profitability of the casino, gambling business that was approved in New Jersey in 1977. Once again being keen to take the opportunity, Trump purchased a property in Atlantic City where he enrolled his younger brother to help him win a gambling license, financing and other permits. The parent company of Harrah’s Casino Hotels, Holiday Inn Corporation offered to partner with Trump and the $250 Million complex named Harrah’s at Trump Plaza opened its doors in 1982.

In 1986 Trump bought out The Holiday Inn Corporation renaming the property Trump Plaza Hotel. It was around this time that Trump also bought a Hilton Hotel owned resort when they failed to be granted a gambling license, renaming the $320 Million facility Trump’s Castle. Not stopping there, Trump progressed to purchase the largest casino-hotel complex in the world, the Atlantic City Taj Mahal which opened its doors in 1990.

“I wasn’t satisfied just to earn a good living. I was looking to make a statement.” – Donald Trump

Donald Trump’s Amazing Recovery

donald trump billionaire Trump wanted to expand his business and opted to build a condominium project in West Palm Beach, Florida and in 1989 he bought the Eastern Airlines Shuttle changing the name to Trump Shuttle. In the early part of 1990 Trump made his way to LA to reveal a plan to develop a $1 Billion facility for commercial and residential purposes, featuring a one hundred and twenty five story office building.

It was in that same year that the Real Estate Market experienced a downturn which negatively impacted the value and income of Trump’s empire with his personal net worth free falling from an estimated $1.7 Billion to $500 Million. Trump and his organization had to work extremely hard to get many loans to stop the whole empire from falling apart which led many to ask whether or not the company could survive bankruptcy. Trump’s fall from grace was viewed by many as a symbol of the social, business and economic excesses of the previous decade.

However, the story does not end there. Remarkably, Donald Trump fought his way back from nearly $900 Million in debt to a net worth of nearly $2 Billion by 1997!

Conclusion

It may seem like a cliché that to become a successful entrepreneur you have to take calculated risks and be able to bounce back even when times get extremely tough but Donald Trump is living proof of these attributes.

Trump is an amazing man who really has always done what ever it takes to make his visions a reality and has never taken no for answer even when a recovery was seemingly impossible.

Donald Trump Picture Quote

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Jermaine Harris

Jermaine Harris is a Coach, Trader, Author and Speaker. He is passionate about human potential and empowering others to change their lives in the same way he did. Jermaine believes that the opposite of being 'stuck in a rut' is possible and explains how in his book, The Rut Buster. Get to know Jermaine better at: jermaine-harris.com

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By investing your time and effort in networking, you will gain more business through the relationships you make

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Are you completely new to networking?

Then this article is a great place to start. Networking isn’t hard on paper…you go along to online and in-person meetings, make new connections and build relationships, and those relationships lead to more work so you can grow your business! The challenge is that in reality, it isn’t quite so straightforward, as our emotions get involved and make things much tougher.

It’s incredibly common for nerves to creep in and to feel overwhelmed and apprehensive when it comes to networking – even when it isn’t new to you. But how can you become more successful at it, feel less self-conscious, and make networking work for you and your business?

Here’s a few tips to help you embrace every business networking opportunity you get, so you can grow your business and achieve your goals.

Rock up with confidence

If you want to keep those nerves at bay and ooze confidence at networking get-togethers, you’ll need to downplay it rather than seeing it as a big occasion. Try not to put pressure on yourself and see it as a casual meet-up with a bunch of people with similar goals to you. To help you relax in the run-up to the event, be sure to set achievable goals and expectations before you go.

Keep your chin up and your goals in mind – positivity is key. One easy goal for your first networking meeting is very simply to speak to one other person and see where the conversation goes. Introduce yourself and your business, but take the time to listen to their story, too. It’ll only take a few minutes and will be over before you know it, so it’s nothing to fear. You may even enjoy it and want to speak to a few more people, too!

“You can close more business in two months by becoming interested in other people than you can in two years by trying to get people interested in you.” – Dale Carnegie

Where to go networking

If you’ve never been networking before, it might not be very easy to find a group – but only because there’s so much choice and you don’t know where to start your search! Groups come in different sizes and styles, so it’s important to find one that suits you and your business. Informal, formal, big, small… the choice is yours.

For your first meeting, start small to ease yourself in – a big group could prove too daunting, and stop you from feeling comfortable enough to get involved. After all, you want to make a strong first impression!

If you’re wondering which group to opt for in the long-term, give a few a go! Get a feel for them, speak to as many people as you can, and see which one suits! You’ll know when a group feels right for you, and you can see where those all-important relationships are most likely to be built. If a group doesn’t feel like the right for you, give a different one a go.

Get more leads and referrals

This will happen for you, as long as you put the effort into building those relationships. If you take the time to get to know people, and then check in with them and support them, they’ll see you as a trustworthy and reliable contact who they can call on. And when they feel that way, those leads and referrals you’re looking for will come a-knocking.

Once you’ve made relationships with people who you trust, and they’ve had a positive experience working with you, you can even ask for referrals! But don’t rush this, as you don’t want to inadvertently push people away or try and force the relationship along too quickly.

When you do get an opportunity to work with someone you’ve met at a networking group, go above and beyond to offer more value than they’re expecting, as then, they’ll be much more likely recommend you and introduce you to more of their contacts!

Grow your business

By investing your time and effort in networking, you will gain more business through the relationships you make, and you will be able to grow your business.

We know that it’s not easy, going networking for the very first time. And that’s why we want to give you all the advice and tools that you need so you can walk in with confidence and make the most of the opportunity.

2023 is just around the corner, and you have the chance to make it the year you make networking work for your business. And the benefits could be incredibly amazing for your business, just like they have been for ours, and many business owners we have worked with over the years.

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