July 11, 2008

Donald Trump Video: Success Tips and Insights Pt.5

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In part 5 of the Billionaire Inside, Donald Trump talks about how your business and personal lives overlap and how to get balance between the two.

Part 5 Summary:

business begins with an idea but you must be able to implement
only you can know when the right time is to leave your job in order to build your own business and it's a tough decision to make
it's very hard to have balance in your personal life when you love your business
if your spouse is not understanding of what you're doing it's not going to work
too much of a distinct personality / look can be a liability but you've got to be yourself
the biggest mistake he's made in business was losing focus
his idea of a vacation is a working vacation
you can position your business at either end of the spectrum and still succeed
on branding: you have to get the word out
you may need to be more creative with advertising when starting out on a small budget
prenuptial agreements are sad, ugly instruments but you have to protect yourself from the downside