Trump’s Top 5 Ways to ‘Think Like a Champion’
The word entrepreneur is a big word that means different things to different people. Some say an entrepreneur is “a person who takes on the risks of starting a new business. Many entrepreneurs have technical knowledge with which to produce a saleable product or to design a needed new service.” But I think it’s deeper than that. I believe most entrepreneurs fail in the first five years because they lack the skills that entrepreneurs need.
There are volumes of books and seemingly endless references available on what it takes to be successful. What they have in common is a mind-boggling variety of “hints”, “formulas” and “keys” to success. It’s no wonder that it takes a lot of sorting to find the best method for achieving goals. Hey, if it were easy, everyone would be successful, and there would be no need for all those books and materials.
With that in mind, I’m going to tell you a simple formula you can consider for success. It provides a true “big picture” perspective on two key components to achieving what you want in life. That formula is: Attitude + Action = Success
There are a lot of self-help books (and gurus) who talk at length about the power of positive thinking and having a positive attitude. There is a tendency for people to discredit this positive-thinking concept as too touchy-feely. They advocate more obvious methods – in other words, action.
But the reality is, attitude AND action in combination are essential to success. It’s unlikely you’ll achieve the results you’re looking for if you spin your wheels trying things (and then giving up when you fail) without first establishing the right mental attitude. And all the optimistic and positive thoughts in the world won’t buy you an investment or win you the prize you seek.
The entrepreneur’s ability to dream, win, lose, and win again and again is often called an entrepreneurial spirit. It is what separates the entrepreneur from everyone else in business. It is also what separates those who want to be entrepreneurs from those who can be entrepreneurs.
#1 Find Inspiration
When I was at the academy and in the Marine Corps, much of my training in leadership focused on being a role model—being someone my troops would look up to, being someone who lived his life according to a higher standard.
When I first met Donald Trump I felt he fulfilled that leadership role. In writing two books with Donald, I was able to get to know a person I have respected and looked up to for years. Just being in his presence has been a lesson on how I want to live my life—to live life according to higher personal standards.
My poor dad advised me to live my life below my means. My rich dad advised me to continually work to expand my means. Being around Donald has inspired me to expand my means beyond what I thought was possible for my life. And this is what true leaders do.
They inspire you to go beyond what you think is possible for you. So I encourage you to find your own inspiration. That thing that pushes you to go beyond what you thought possible.
#2 Going Against the Tide
I once read that Winston Churchill could see 200 years into the future. I also read that Dr. Buckminster Fuller could see a thousand years in the future. Whether this is true or not, we all know people who cannot see past tomorrow.
We also know that Donald Trump can see tall gleaming skyscrapers where others see only blighted, burned-out buildings. That is what makes Donald a leader and a very rich man. He can see what others cannot.
My rich dad taught me to see what others could not see. When you can see what others cannot you have an advantage.
#3 Keep Going
I believe that failure is the path to success. One reason why many smart people, people who did well in school, are not rich is that they were taught in school that making mistakes means you are stupid. In reality, making mistakes makes you smarter, if you learn from your mistakes.
General Colin Powell said, “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”
Henry Ford went bankrupt five times before the Ford Motor Company was born. Thomas Edison failed over 1,000 times before inventing the electric light bulb and the birth of General Electric.
In business, the courage to fail until you succeed is known as the Spirit of Entrepreneurship. Entrepreneurs who make the most mistakes and learn from their mistakes, get rich.
#4 Have a Mentor
A great way to use and leverage the experience and education of success entrepreneurs Is to find a mentor. A mentor is someone who has already gone where you want to go. Someone who has already faced the challenges you’re likely to face and who have found solutions that work. In Vietnam, we used locals and Vietnamese Marines for local knowledge. I do the same thing in business.
Donald Trump and I would not have written two books together if had ever stopped my financial education. I love learning about money, business, finance, and wealth. I will probably be a student until the day I die. I do not think I will ever feel I know enough, or that my cup is full or that I have all the answers. I can always learn more and love doing so.
I continue my financial education via real-life experience and by having great mentors as well as great advisors.
#5 Think About the Challenges
Even though it was a tough road at the start, today I love being an entrepreneur. I love starting new businesses. I love the creativity, the people I meet, the challenges, and the rewards. The price for gaining the education and the experience was high, yet in retrospect, the journey was worth it.
I love the new challenges I go through every day as an entrepreneur. I love the excitement of the startup and then the development. Once the business is up and running, I love the challenge of expansion and growth. Once the business is growing, I love the challenge of bringing on new team members to add stability and grow the business, which makes the business predictable and profitable.
As an entrepreneur, every day is exciting, new, and educational. I am always learning something new, even on bad days. Donald Trump says the same thing, which is why he has so many business projects going on. He is a true entrepreneur. To be a true entrepreneur, you need to be smart and love to learn. If you do not love learning, chances are your business will not grow because you are not growing.
Editor, Rich Dad Poor Dad Daily