Five Business Lessons From Donald Trump

Which person in the White House will Donald Trump fire first if he is elected President of The United States?    A few weeks ago, I was able to watch a piece of Donald Trump’s coming out party announcing his candidacy for President.  Whether you like Donald Trump or you don’t like Donald Trump, you have to admire his uncanny ability to be savvy about using all outlets possible to build the riches of his empire.  Trump golf course.  Trump hotels. Trump water.   It never ends.   Here are five business lessons that all business owners can learn from Donald Trump.

  1. Use The Media To Expand Your Reach
    I read this excerpt from www.commondreams.org about Trump’s initial speech. Already the commentators have derided his massive egotitis – he said “I” 195 times in his announcement speech, not counting the 28 times he said “my” or “mine” or the 22 mentions of “me.” But Trump revels in self-promotion and, as one commentator wrote, “plays the media like a harp.”  Trump understands from Celebrity Apprentice to his appearances on talk shows that he can multiply his brand message quickest by getting the media to write about him.
  2. Never Count Yourself Out
    First things first: Donald Trump has filed for corporate bankruptcy four times, in 1991, 1992, 2004 and 2009. All of these bankruptcies were connected to over-leveraged casino and hotel properties in Atlantic City, all of which are now operated under the banner of Trump Entertainment Resorts. He has never filed for personal bankruptcy — an important distinction when considering his ability to emerge relatively unscathed, at least financially. (source: Forbes).    Even when everyone said he was going bankrupt he was able to turn it around to become a billionaire.
  3. The Value Of Brand
    I’ve learned as we build oXYGen Financial, that brand does matter.   Why do you purchase Apple products? Why do you buy diamonds from Tiffany’s? Why do you drink Starbuck’s coffee?  Yes, these are all high quality companies, but consumers love to love brands.   Trump hotels for example (I know I’ve stayed in the Trump Chicago) are exquisitely designed with luxury materials.  You feel as if you are in the most palatial place possible in the city.      The Trump brand stands for luxury and power in my opinion.  This attracts those people who are attracted to that type of status symbol.
  4. It’s Just Business
    Even on his initial speech for his run for President, Trump went after all of the politicians, many who am I sure he has helped in the past.  He said he loved many of these people, but they simply don’t know how to run a business nor make any real decisions.   On Celebrity Apprentice, he will go after and challenge even the most famous of celebrities. (Except Gilbert Gottfried of course).   Trump is the master at separating business and personal when it needs to happen in a business situation.
  5. Always Trust Your Family
    One debatable topic about business is often whether or not to bring in family members.  It is admirable how Trump uses his leadership skills to make Ivanka, Don Jr., and Eric executives in all of the family businesses.   This is not a trait that many business owners can duplicate, but a lesson to be learned when thinking about the future employees who can run or take over your empire.

Written by: Ted Jenkin
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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

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