I am going to briefly discuss a man who I look to as an example of how to be successful as an entrepreneur and in business in general, Donald Trump. I am interested in him particularly because he has made his fortune in real estate development, which I find to be more exciting than any other industry in business. Not only has Trump dominated real estate development in New York City, he has also had great success in Las Vegas, Chicago, Florida and a number of places around the world. However, the road to achieving his current level of success has been filled with failures as well as victories.
Working for his father from a young age, he learned all the basics of real estate development as well as how to be ruthless in making deals with others which would greatly contribute to his later success. He was able to achieve great success through making real estate deals and fixing up and developing hotels, skyscrapers and casinos. By the early nineties he had built up a massive real estate empire across the United States and had an estimated net worth of 1.7 billion dollars. However, due to a decline in the real estate market at this time, he lost most of what he had and the once seemingly unstoppable Trump Organization went several hundred million dollars into debt. It was only through an immense infusion of loans that his corporation was able to survive bankruptcy. Through more shrewd deal-making and hard work, Trump had recovered all of what he had lost by 1997 and his net worth was even larger than it had once been.
Since this time when the ‘Trump’ name was tarnished, he has been able to restore it to its former glory. Today, it is widely respected and associated with the highest quality in luxury real estate. Moreover, in the past decade Trump has strayed out of his comfort zone and entered a number of other industries such as television, producing the hit show ‘The Apprentice’. He even has his own line of bottled water, Trump Ice! His fearlessness, persistence, and ruthlessness have enabled him to achieve a level of success that aspiring entrepreneurs everywhere hope to achieve.
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