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Breaking New Ground: Trump’s Success Factors
Ferocity: “What I admire most are people who put themselves directly on the line,” says Trump. Never one to back away from a challenge, Trump was aggressive and unforgiving in making his business deals. Even if it were costly and difficult and risky, Trump would continue to fight to get the best terms he could. And, he would settle for nothing less.
Passion: “I don’t make deals for the money,” says Trump. “I’ve got enough, much more than I’ll ever need. I do it to do it.” Trump’s love affair with real estate began at an early age and never diminished. Having passion for his work is the only thing that kept Trump going despite the personal failure of divorce, bankruptcy and failed deals. To those wondering how to balance both work and pleasure, Trump says to stop wondering. Instead, he advises to “make your work more pleasurable.”
Idealism: “I wasn't satisfied just to earn a good living,” says Trump. “I was looking to make a statement.” The Trump Organization has become synonymous with luxury, lavishness, class and extravagance. It didn’t get that way by following its competitors. It got that way because Trump was not afraid to think big, to do what hadn’t been done before and in a way that many couldn’t even imagine. His ability to blur the line between fantasy and reality helped push Trump’s company into a league above the rest.
Perception: “Watch, listen, and learn,” advises Trump. Indeed, Trump’s success came about largely as a result of his own ability to observe others and thereby learn how to manipulate their actions. By convincing others they could not do without him, Trump truly refined the deal-making process into an art. It was by mastering this art that Trump was able to rise to the top of his game.
Instinct: “It pays to trust your instincts,” says Trump and in his case, it paid off remarkably well. When sellers, banks, consultants and even friends were telling him one thing, Trump knew he had to go with his gut. By having confidence in himself and the courage to follow through, Trump was able to make difficult and risky decisions when others might have simply given way to the pressure.
Trump’s instincts are now worth over $2 billion but he has no plans of retiring, saying, “Anyone who thinks my story is anywhere near over is sadly mistaken.” The Trump Organization is still expanding, with a revenue growth of 22% between 2004-05 and Trump continues to demonstrate his ability to draw a good hand, pulling out the Trump card every time.
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