If you want to get rich, very rich, you need to hire good people and you need to lead by example. This is advice you may have heard before, however Donald Trump – US property tycoon who has been through business ups and downs – gets into the details of how to actually do this. Trump shares some of the details on how to get other people to work for you to maximum effect. This is classic wealth-building inspiration from a giant of the real estate industry.
How to get rich
1. If you don’t tell people about your success, they probably won’t know about it.
He says: “Deals are my art form. Other people paint beautifully on canvas…I make big deals, that’s how I get my kicks.” Don’t work purely for the money, is his message.
2. Look for good managers and creative people. Creative people aren’t driven by money.
3. Stay focused. In this recording, the real estate player speaks of how he believed, as did others, that everything he touched would turn to gold. But, his lack of attention was killing his business. When the real estate market crashed, he owed vast sums. At one point, he realised a beggar was worth more than he was.
4. Work hard. After being king of the 1980s, he survived in the 1990s. “I’ve learnt my lesson. I work as hard as I did when I was a young developer,” he says.
5. Maintain your momentum. Don’t become complacent. You need to know all the details about your business, he says.
6. Surround yourself with people you can trust. And don’t fall for people who always tell a good story but never deliver the goods.
7. Ask God for a great assistant. “A great one can make your life a whole lot easier,” says Trump, noting his own personal assistant is “tough, smart and indefatigable”. It helps if they are beautiful, but don’t underestimate skills. “I have been accused of admiring beautiful woman. I plead guilty,” he says.
In the workplace you need brains and beauty. Trump says he made a mistake hiring an Ingrid Bergman-type beauty who could barely speak English and lacked the general knowledge to understand who the important people were on the end of the telephone line. She relegated famous people to her list of psychos, refusing to put a range of movie stars and successful business players through to Trump’s office.
8. If you are the boss, remember the “buck starts here”. “Set the standard. Don’t expect your employees to work harder than you do,” he says. If employees can see and feel your energy it is bound to affect them, points out Trump.
9. Take a firm stand on whether you like or don’t like a development possibility. Don’t equivocate as it is an indication you are unsure of what you are doing. Trump cites the example of a manager he asked to make a call on a development his company was considering.
“Judging from what he was telling me, there were just as many reasons to drop the project as to go ahead. He was on both sides of fence at once and didn’t want to take a stand.” When pressed, the manager said he thought the project under consideration “stinks”.
10. Hiring new people is a gamble. Look for people with a sense of responsibility that goes beyond merely sufficient. Some will do the bare minimum. Others see themselves as having a direct relationship to the success or failure of an organisation, says Trump.
“People who take pride in their work are the kind you want to have around.”