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.
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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
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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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