Trump's Biz Tips

by Jane-Michèle Clark

Donald Trump spoke in Toronto a couple of years ago and offered us a side not usually seen on “The Apprentice”. I’ve always admired his accomplishments and tenacity – and respected his business acumen. After hearing Trump speak, however, I realized that I also really like him. He was funny, irreverent (perhaps a quality best appreciated by entrepreneurs) and down-to-earth. He wasn’t afraid to tell it like it is – and didn’t worry about the “political correctness” that hamstrings too much of our conversation and writings these days. The audience clearly enjoyed this refreshing approach. So, even though his talk was a little while back, it still makes sense to read this article, because his points still make sense.

When “The Donald” was here, he did far more than entertain (and entertain he did!), however; he had some great business advice to impart. He said that the lessons for success haven’t changed much over the centuries, and will likely be the same centuries down the road (as long as we don’t blow up our world, that is – his phrase). His tips:

1) You must LOVE what you’re doing, or you’ll never be successful. When you love what you’re doing, you’ll work harder and try harder and be better at it. When you love what you’re doing, you’ll find it easy to get up in the morning and start work – in fact, you won’t even consider it work, and that’s really important.

2) You must know your business inside and out. Trump was once asked, “What’s the difference between a ‘braggart’ or ‘blowhard’ and someone who gets it done? His answer: “They, winners that is, bring the goods.” He has found that all too often, someone who looks like they’ve got the full package, ends up not to have too much going on upstairs. You want to get into business with people who are not only smart, but are also well-informed about their industry, will listen to good advice – and know when to ask for help. Under this heading comes one other piece of advice: Don’t take long vacations from your business without checking in. How can you expect to be a good leader if you don’t know what’s going on?!

3) Never ever quit or give up! Julius Cesar, Winston Churchill and Donald Trump – all very different kinds of leaders, all with the same message.

4) You need luck. You would not normally expect a business leader to talk abut something that many people feel is not within their control. Trump, however, reminds us of the phrase that has been ascribed to many, including golfer Gary Player, who reportedly said, “The harder I work, the luckier I get.”

One Friday, at the point when Donald Trump owed vast sums ($9.2 billion in total) to just about every bank around, he had to attend a bankers’ dinner. Not wanting to face so many people who had him in their sights, he sought refuge in the sanctuary of his living room. But Donald is not a quitter, so he got himself up off the couch, donned a tuxedo and brave face and attended the dinner. That in itself took guts.

To make it worse, Donald ended up sitting next to one of his toughest creditors. Naturally enough, the meal did not start on a pleasant note. By staying strong (rather than grovelling as he was probably expected to do) and remaining affable, Donald turned the situation around and was able to get the man to agree to discuss terms on the following Monday.

Monday dawned and a deal was struck. The luck part? This particular creditor had already gone after several other people in default and was embroiled in legal battles that were eating up fees faster than Rosie eats fries (that one’s for you, Donald). If Trump had been one of the first people the creditor pursued, he may not have been so lucky.

The “make your own luck” part: If Trump had not gotten off his backside and gone to the dinner, he would never have been “lucky” enough to get seated next to a creditor who had been in the process of drawing up “go for his jugular” papers.

5) Hire the best people – then watch them. All too often, business owners hire great people and then don’t pay close enough attention to what’s going on. This can lead to people ruining your business by embezzling funds and worse. What needs to go hand in hand with this? Respect. People need to respect you. It’s okay if they even have a little fear too, because then they aren’t going to try to take advantage of you. Which bring us to Point #6.

6) Get even. “If someone screws you – screw them back in spades. Hit people hard when they take advantage of you.” One day two sportscasters were commenting on the bad field turf and one made a joke about the grass looking worse than Trump’s hair (which by the way is real, and looks just fine). In response, the other said, “Yeah, but Trump doesn’t take garbage from anyone. He stands up for his rights. He’s tough.” Trump says the reason he won’t back down when someone is going after him is that "when it’s really important, people are always watching." He adds, “Don’t be stupid – if people take advantage of you and you do nothing, others will take advantage of you too.”

7) Maintain your momentum – or at least be aware if it is starting to slip. We can’t all keep performing up to and past our limits day in and day out, without it showing up somewhere. You may lose your focus (as happened with Trump when things went south) or drive. Be aware if your strength’s waning, and if bad things start happening, don’t allow them to take you under. The underlying message: Get your bases covered, take ten, then get back in the game!

8) Always have a pre-nup! Not having a prenuptial agreement can destroy a company. Given that some 58% of marriages end in divorce, you must take steps to protect your company, no matter how unromantic this may seem. This applies equally to men and women, of course.

9) To be a winner, you must think like a winner.

Two last gems:

“If you have bad leadership skills, you’ll have problems as an entrepreneur – and your company will head south.”

“You need to make deals – taking no action, does no good.”

I won’t even try to make a concluding comment – his words speak for themselves.

Copyright @2008-2010 Jane-Michèle Clark. All rights reserved.


Jane-Michèle Clark is president of The Q Group ( www.theQgroup.com ), a strategic positioning and marketing communications firm that has worked with many blue chip companies over the past 30 years. In addition to being seasoned business strategist and marketing expert, Jane-Michèle also teaches MBA level marketing at the top-ranked Schulich School of Business York University). Jane-Michèle is also a corporate trainer and speaker and 9-time nominee for the RBC Canadian Woman Entrepreneur of the Year Award.

Jane-Michèle can be reached at jmc@theQgroup. or by calling 416-424-6644.


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