Many entrepreneurs admire Trump’s business prowess. From his many business endeavors like the international Trump Hotels and his time on The Apprentice to his presidential run, Trump has inspired many a hopeful entrepreneur. If you’re wondering how Donald Trump got his start and became so successful, read on to learn four important things about his business empire.
1. How Trump Became Wealthy
Many people respect Trump for his fortune, but few actually understand how he made his money. While naysayers believe that Trump’s success is a result of being born into a wealthy family, the reality is that he is very much a self-made made. Trump built his empire through investing, real estate dealings, and multiple business ventures. Trump’s total net worth is a testament to his hard work as an investor, author, and all-around businessman.
While Trump did inherit some of his family’s money, he used his business know-how to transform his inheritance into a veritable fortune. Now, the Trump name is worth an estimated $3.7 billion.
2. Where He Got His Business Start
The Trump family is wealthy, which certainly helped Donald get his start as a businessman. After inheriting $40 million dollars as a new college graduate, Trump put his inheritance to work and joined the family real estate business. With a University of Pennsylvania college degree, a new career, his inheritance, and his insatiable work ethic, Trump’s path to wealth was inevitable.
3. What Companies He’s Responsible For
As a businessman, Trump himself is involved in a variety of companies. The Trump Organization is his family’s conglomerate that invests in businesses worldwide. Investments from Trump Wine to Trump’s books all have the family stamp of approval. In addition to these various endeavors, Trump’s efforts in hospitality are most noteworthy. Trump Golf, Trump Hotels, and Trump resorts are the breadwinners of the family name, bringing in several millions of dollars each year.
While it’s true that Trump has experienced a few bankruptcies, these serve as a reminder that the pathway to success isn’t easy and every entrepreneur will face challenges. David Urban suggests that it’s Trump’s ability to surmount these challenges and come back even stronger that makes him such a powerful force in the business world.
4. How He Became Successful
Famous, wealthy, and the 45th President of the United States, Donald Trump is certainly a very successful and well-known man. Regardless of one’s beliefs about him, there’s no denying that Trump is one of the most successful entrepreneurs in the world. Though some argue that Trump’s inheritance gave him a head start, Trump’s work ethic and winning attitude aren’t to be taken lightly.
David Urban points out that the pull of Trump’s brand and his magnetic leadership are something that all entrepreneurs can learn from. Trump has worked hard to amass his fortune and fame, something any businessperson can do for themselves as well. While Trump may be a polarizing figure to many, he teaches the world some very important lessons about business ownership, marketing, and investing.
Donald Trump’s various business ventures are lessons in successful entrepreneurship. Take a leaf out of Trump’s book to put these skills to the test for your business.