Entrepreneur Journal

I had the opportunity to attend a talk with The Donald himself while he was in Ottawa yesterday. At the event, other keynote speakers included: W. Brett Wilson (Dragon on CBC’s Dragon’s Den, co-founder of FirstEnergy Capital Corp.), Terry Matthews (Chairman of Mitel Networks, has started 80 companies).

Brett Wilson’s talk: Brett shared his definition of success. His talk was personal. While he spoke, everyone listened. In the end, he discovered the core sources of his happiness were entrenched in: his health, kids, and community. The standing ovation he received by 4000 + audience members reflected the quality and passion of the content he shared. Powerful speaker.

Donald Trump and Ottawa Mayor, Larry O'Brien

Near the tail end of the event, Trump graced us with his presence. Trump talked a bit about himself, real estate, his thoughts on luck, and more – with that same “you’re fired!” kind of attitude. Funny guy. Here’s a bit of what he spoke about:

Real Estate:

As real estate price tags have dropped dramatically during the economic downturn, investing in real estate has become more attractive. Trump imparted some wisdom on the subject, as he, as well, has been taking advantage of low prices. He only does deals based on seller financing. If no such option is offered — no deal for Trump. There are many advantages to seller financing, including:

1) No points
2) Low interest
3) No down-payment (or a reduced down-payment)

Success – The secret sauce:

“If you’re successful in one area, you can be successful in another because it takes certain ingredients to be successful.” – Trump

His recipe for success: lots of passion, ability to handle pressure, a dash of luck, and persistence.

Luck:

He started off the topic talking about a sadly accident-prone friend. The story made us believe in ‘unlucky’.
He then recalled a golf friend mention: “the harder you work, the luckier you get”. He shared an example from his own life. He talked about his struggles with repaying debt in the early 90’s, with bankers constantly calling. One night during this time, he ended up attending a black-collar event where bankers would be present. He didn’t want to go, but did anyway. He snuck in as he didn’t want the bankers to witness him getting out of a limousine, while they arrived in yellow cabs. Not to mention, he owed them millions. As he networked, he met a banker to whom he owed money to. They didn’t quite hit it off immediately. By the end of the night, they developed a friendship with one another and were able to negotiate terms in which the loan could be paid back. He assigned the strength to get up and attend the party to work and persistent attitude, while meeting that banker and winning him over, to luck. He said that night saved himself from drowning in debt and he wouldn’t be where he is if it weren’t for that party.

Pressure and how to cope with pressure:

Trump spoke about an event wherein a friend approached him for advice. She had an upcoming speech, where important people would be in attendance. She was extremely nervous and had even enrolled herself in a course to help develop her public speaking skills. He told her to forget about it, that it means nothing. He referred to recent natural disasters wherein thousands lost lives. In comparison, the speech means nothing –- “nobody cares what you say”. Now, I wasn’t expecting that, but the objective of this way of thinking = telling us to reduce pressure as much as possible and your mind will be able to focus on the ultimate goal. Find ways to take off the pressure.

“Many of the people I know, the smartest people, are not the most successful. You have to have the ability to handle pressure.” – Trump

 
-Esha

Copyright © Esha Abrol, Canada. 2009