The Seven Critical Traits of Top Entrepreneurs
by Michael Sexton

As President of Trump University, I meet often with our Chairman, Donald J. Trump. I never forget that just about every businessperson in the world would envy me that opportunity. Who wouldn’t want to sit down with Donald J. Trump to get his expert advice on building an enterprise?

This morning, I’d like to share some of the insights I have gained in those meetings. I’ll call them the Seven Critical Traits of entrepreneurs, because they are business-building themes that Mr. Trump stresses often and energetically.

1. Have passion - Mr. Trump has never said to me, “Be passionate!” Yet it’s at the core or his thinking. Exactly what is passion? He summarizes it as, “Enthusiasm on a big scale.”

2. Be tenacious-Mr. Trump is not someone who lets me, or anyone in his organization, give up on any project until every possibility of success has been explored. Consider the fact that he bought the land for Trump Place in Manhattan way back in 1974 - and it is now nearing completion. That’s tenacity.

3. Think big - We all have to start with small steps on any project, but Mr. Trump urges people to take the biggest steps they are capable of. “Thinking big can get you to the top,” he once said, “and I can tell you, it’s not lonely up here!”

4. Be a sponge for new information and ideas - There’s really no such thing as knowing too much about what you’re doing. Despite his packed schedule, Mr. Trump reads everything he can and strives to get information he can use from everyone he meets. There’s often a book on his desk, and I find that inspiring.

5. Take action - When you know need what you need to know about a project or idea, you need to move decisively. Yet Mr. Trump also has a flexible philosophy and he’s willing to take a step back and start again - tenaciously - if the time is not right to move forward. So it is a matter of taking risks, but considered risks. Mr. Trump once said, “A lot of people are afraid to fail, so they don’t try. They talk, but they don’t do. That’s the perfect formula for failure.”

6. Learn to negotiate - “Learning to negotiate is invaluable if you hope to connect in any way with other people.”

7. Enjoy competition - Your competitors are there to help you perform better in the world and - certainly - achieve more success than they have. “Competition forces me to outdo myself,” Mr. Trump has said. “I love competition because, ultimately, it makes me bigger.”

To those of you who are in the United States, I wish you a happy Fourth of July holiday. America is great place to launch a great business. And to our foreign readers, all good wishes for every success. I believe the seven traits I outline above can offer you a blueprint for winning.

Michael Sexton is President of Trump University.

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Posted on July 2 2007 at 12:00 PM
Categories: Entrepreneurship, Success

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Posted by member1600131 on 07/02/2007 11:04 PM
Hi Mike
Thanks for the valuable mantras of entrepreneurship.

I have read few books written by Mr. Trump, I can feel the height he has gained. He has gone through those all stages that any entrepreneur mostly go through. His mantras are inspiring and helps to root-in the aspirations in entrepreneurs. I am myself an entrepreneur and also the three times winner of the Best Entrepreneur award in IT. I have learned what makes you entrepreneur in true sense.

You can read my blog posts on Entrepreneurship at:
http://www.rajeshshakya.com/what-you-need-to-become-an-entrepreneur.htm

Love to read more from you Mike.

Rajesh Shakya
http://www.rajeshshakya.com
Helping technopreneurs to excel and lead their life!
Posted by user89187 on 07/02/2007 11:54 PM
Cash is King!
Posted by Christian Saxeide on 07/03/2007 7:07 AM
Beautiful.. Beautiful words..

I´m a kid (21 y.o.) from Denmark, Europe, and I'm about to launch my very first business, and it´s very exciting.

The first book I read on my own was (actually: John Sculley Odyssey;) But the second book was) "The Art of the Deal". The book helped me so much. What can I say, everyone in this forum has read the book. You all know it´s a classic.

Thank you so much for this blog and website. I read it every day and it´s very helpful.


Thank you,

Christian Saxeide
Posted by Michael W. Sexton on 07/03/2007 9:07 AM
Rajesh, Thank you for your feedback and the link to your blog. Your post on capital is excellent (I encourage all of our members to read it). The concept of Emotional Capital is so critical to entrepreneurship, and yet I rarely see it discussed. Launching a new venture has got to be one of the most exhilarating experience in business. But like all things that matter, the entrepreneurial process has its ups and downs. Understanding the emotional aspect of this process is critical to success. Thanks for the excellent insight Rajesh and congratulations on your many successes to date!
Michael
Posted by user26105 on 07/03/2007 10:16 AM
Mr. Sexton,

7 Critical Traits to complete the Top Entrepreneurs profile require 
the 8-th trait as cherish one..
is about Welcome to the Round Masa as Team than locations cells the strategy one by one to decide for..any big country isolated is nothing so the play is open is commitment is global.
To connect the most valueable reports as WCB(impressive the large spectrum they touch as investments)with the old planes as railway*s as necessity, (the pollution and transport in once is higher than the roads and permitt connect at reasonable price the interests of people, goods, tourism, mobility) but the Summit as strategy from different levels harmonized in once will permitt Investments in place with long term continuity if the Foundation is in place!
Green Clusters passion and tenacity are in place,
even a mountain may move for the right fight, but is better when people connect before the mountains does, isn*t?
Success forward,
Daniela