Billionaire Donald Trump’s fortune grew immensely
whether his projects succeeded or not because he continued to build on his
triumphs while coming up with alternatives to failed strategies.
Trump can be your guide to riches by using his
techniques. Here are six ways The Donald became a billionaire:
1. Find
your niche — Trump has proven you can make money through investing, developing
real estate, building golf courses, becoming a casino magnate, and starring in
your own reality TV show. There are lots of get-rich-quick schemes, but do what
you love and maybe you can make a name for yourself in one or more areas on
your way to wealth.
2.
Never give up — Even the most successful people fail at times. Trump
went through a number of bankruptcies and saw fledgling companies fall apart.
Two failed marriages caused personal challenges, but he managed to rebound.
3. Use
your creativity — Many people try it the old, proven way, which may not work
anymore. The Donald, according to his son Eric, “does the exact opposite of
what a lot of people would do, and it’s turned out remarkably well,” he told CNBC.
4. Take
advantage of financial resources — Trump used banks, investors, and
stockholders to raise money for his projects. The Donald himself admits to
using bankruptcy to come up with better deals that made up for his losses,
according to Market Watch.
5.
Think big — Trump’s father, Fred Trump, made his mark in building for
the lower or middle class. Trump took a huge leap and looked at possibilities
that were “grander, more glamorous, and more exciting,” he wrote in “The Art of
the Deal,” his 1987 book.
6. Take
risks — Trump began investing heavily in Manhattan real estate in the 1970s
when property values were plummeting. New York later recovered as real estate
values and Trump’s investments soared.
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