No matter your political affiliation, it’s hard not to notice Donald Trump’s audacious 2016 presidential campaign. Whether he’s making disparaging remarks about immigrants, or insulting fellow republican candidates, Trump continues to dominate the recent 24-hour news cycle. You don’t have to agree with Donald Trump’s politics or cartoonish rhetoric to learn a few valuable lessons in entrepreneurship and business.
I’ve listed a few of the most salient examples of Mr. Trump’s spectacularly outlandish hubris; I hope you’ll glean some useful insight from it.
1. Unwavering confidence
Anyone who’s ever seen or heard Donald Trump knows that he’s never shy about telling you how rich he is, all the while singing the praises of his own greatness. And though his style is extreme, having confidence in your ability as a business owner is an undeniable quality to possess. The lesson — If you’re not exhibiting absolute confidence and belief in your own product or service, no one else will.
2. Defend your beliefs, even in the face of extreme criticism.
“When Mexico sends its people…they’re bringing drugs, they’re bringing crime. They’re rapists,” were the remarks made by Donald Trump a few days ago. And just to clarify, I neither agree with nor support those statements. However, I’d like to examine how Trump reacted to a firestorm of criticism, from both the mainstream media and his business partners. Everyone from Macys to NBC-Universal repudiated Trump after his remarks, which cost him millions of dollars in business deals. Yet, he’ll be the first to tell you that was a small price to pay to stand up for what he believes in. The lesson here is CONVICTION. There will always be critics, but perseverance and a steely resolve is one of the most vital components of success.
3. Put your money where your mouth is
About a decade ago, when I was doing market research for the car dealership I founded in 2003, I spoke to an associate who tried and failed at his own dealership in the same location. He proceeded to give me a million reasons why I shouldn’t start my company, and that if I did, I would fail just like he did. We had a spirited debate; I reminded him of my extensive finance and management experience in the automotive industry. And this experience is what would make me successful in the areas where he had failed. Trump isn’t just pushing back on his critics verbally; he’s funding his campaign with his own money. As of the date of this article, Donald Trump is leading the GOP in the polls.
To this day, starting and subsequently selling my car dealership was the most educational and fulfilling venture of my professional career. The take away lesson — it’s not enough to just talk about what you’re going to do, you must invest in, and execute your plan.
So the next time you hear Donald Trump make a ridiculous comment, remember, there’s a method to his madness. He didn’t build a billion dollar empire by not understanding business, and how to use the media to his advantage. Please subscribe to my channel for more business tips, cheers!