What Did You Learn From Business?
Robert starts off by mentioning how you canâ€™t learn to ride a bicycle by reading a book and the same thing applies to business. He talks about learning from his failures in business and specifically talks about a nylon and Velcro surfer-wallet business that he ran with a few friends. While it was a huge success, it would also prove to be a downfall for him as he was spending money like crazy and living a lavish lifestyle. In the end, the business actually made him poorer. As he put it, while his income was going up so did his stupidity and losing a million dollars was a wake up call for him.
Donald talks about being a visionary and uses his example on how when he wanted to build Trump Place on the upper West Side of Manhattan it created an uproar. Today, it has proven to be a success. He then used Mark Burnett as an example and how no one understood his new direction for television. With vision and persistent, he helped define a new genre in television. So, what he learned from business is that you need to be a visionary and then focus in making it a reality regardless of your opposition.
Iâ€™ve personally learned a lot from running a business. I think for me the biggest thing was learning how to separate business and friendship as I have been taken advantage of so many times before due to me being naive in making sure that I look out for myself as well as others. I even blogged about one event that happened a long time ago in a post titled Business and Friendship which was definitely a turning point for me.