On the eve of his Australia tour, tycoon Donald Trump caught up with Dynamic Business to share his tips on business success.
Donald Trump is the archetypal businessman and a self-confessed workaholic. Having recently gained a new wave of popularity thanks to his TV show The Apprentice, his name is never far from the headlines, whether it be concerning his latest project, his love life or his infamous hair.
He started his career in an office he shared with his father in Brooklyn, New York. He spent five years working with his father, making deals. Trump has been quoted as saying: “My father was my mentor, and I learned a tremendous amount about every aspect of the construction industry from him.” Likewise, Fred C. Trump often stated that “some of my best deals were made by my son, Donald… everything he touches seems to turn to gold”.
Trump Junior then entered the very different world of Manhattan real estate. In New York City, the name is synonymous with the most prestigious of addresses, among them the world-renowned Fifth Avenue skyscraper Trump Tower, and the luxury residential buildings, Trump Parc, Trump Palace, Trump Plaza, 610 Park Avenue, The Trump World Tower and Trump Park Avenue. This is man who knows quite literally putting his name to things is a recipe for success.
Over the years, Trump has owned and sold many great buildings in New York including the Plaza Hotel, which he renovated and brought back to its original grandeur, and the land under the Empire State Building. Other acquisitions in New York City include The Trump Building at 40 Wall Street, the landmark 1.3 million square foot, 72-story building located in Manhattan’s Financial District, directly across from the New York Stock Exchange and the tallest building in downtown Manhattan. This purchase is said to have been one of the best real estate deals made in the last 25 years. In the gaming arena, The Trump Organization is one of the world’s largest operators of hotels and casinos.
In a departure from his real estate acquisitions, Trump and the NBC Television Network are partners in the ownership and broadcast rights for the three largest beauty competitions in the world: the Miss Universe, Miss USA, and Miss Teen USA Pageants. Trump’s numerous accolades include Real Estate Visionary of the Century. . Last year, he received a star on the Hollywood Walk of Fame.
It was back in 2004, that Trump first joined forces with Mark Burnett Productions and NBC to produce and star in the television reality show The Apprentice. This quickly became the number one show on television, making ratings history and receiving rave reviews and three Emmy nominations.
Never one to shy away from diversifying his business, Trump also boasts an online university, several bestseller books, a luxury magazine, a range of signature merchandise, a vodka and a television production company, to name but a few. He is also developing luxury hotels in Dubai and across the world.
Trump is the highest paid speaker in the world, and he draws huge crowds, often in excess of 50,000 people. The month before he comes to Australia to share his secrets with local business brains, he shares his top tips with us.
DB: People all over the world look to you for business advice. Who do you go to for advice?
DT: I keep myself at the very top of my game by knowing my subject and that’s the secret. Know your subject and be better at it than your opposition. You learn something from everyone you come into contact with; some things are good, some things are bad, but it’s all learning. Never stop learning and never lose passion.
DB: What is the best piece of advice you were ever given when you were starting out?
DT: Love what you do and you will be a success. If you don’t really love what you are doing, you won’t enjoy it and you wont be a success. I have never seen it happen.
DB: You’re well known as the highest paid speaker in the world. What makes a good public speaker?
DT: Excitement and enjoyment and the ability to talk about things which are relevant. I speak my mind on everything and that’s why so many people come to see me. We get crowds of 50,000 in the USA. We won’t get that in Australia simply because of the population base, but they come to hear me talk about success.
DB: What is the most important thing to consider when trying to grow a business?
DT: You have to take risks, calculated risks. You can exist inside your comfort zone, but you are not going to go anywhere. Sometimes when we step outside our comfort zone, we get the best result and we go to places our competitors wont.
DB: Like most entrepreneurs, you had your own rocky patch during the eighties. What made you keep going?
DT: Drive and a lot of hard work. I dealt with the banks, they needed me and I kept them going as much as they helped me. In the end, it’s about success and never ever giving up.
DB: How do you achieve the work/life balance?
DT: That’s easy. Enjoy your work or find something you do enjoy and do that. There is no work/life balance, it’s a meeting of the two.
DB: You’re in your sixties but you’re showing no signs of slowing down. Do you think you’ll ever really retire?
DT: I work because I love working. My father worked seven days a week, but he was a happy guy because he was doing something that he loved. It’s the same for me.
DB: Do you think The Apprentice has gained you popularity among a new generation of people? Do you hope that you will inspire young, would-be entrepreneurs?
DT: I know we are doing a special ticket offer in Australia for university students. I have a passion for the next generation of entrepreneurs.
DB: Do all the comments about your hair annoy you?
DT: Not at all
Trump The Author
His first autobiography, The Art of the Deal, became one of the most successful business bestsellers of all time, having sold in excess of three million copies, and being a New York Times number one bestseller for many weeks.
The sequel, Surviving at the Top, was on The New York Times bestseller list and was also a number one bestseller as was his third book, The Art of the Comeback.
His fourth book, The America We Deserve, is a departure from his past literary efforts. This book deals with issues most important to the American people today and focuses on the views regarding American political, economic and social problems.
His fifth book, How To Get Rich: Big Deals from the Star of The Apprentice, became an immediate bestseller on all lists, as did Trump: The Way to the Top and Trump: Think Like a Billionaire, which was released in October of 2004.
Trump: The Best Golf Advice I Ever Received was published in April 2005, followed by Trump: The Best Real Estate Advice I Ever Received in 2006. He has also teamed up with Robert Kiyosaki to make publishing history with their book, Why We Want You To Be Rich: Two Men, One Message, which in October of 2006 made the number one spot on the New York Times, The Wall Street Journal, and Amazon bestseller lists.
Trump 101: The Way To Success debuted in late 2006. In October of 2007, Trump’s book with Bill Zanker, Think Big & Kick Ass in Business and Life was launched and met with great success. In early 2008, his book with Trump University, Never Give Up, was released.
