Donald Trump is regarded as many things, one of which is a successful business owner. With a net worth estimated to be in the billions, Trump knows how to make his money work for him as an entrepreneur. Take a closer look at lessons learned from Donald Trump’s business model to learn how to apply his entrepreneurial prowess to your own business:
1. Stick to Your Unique Vision
When reflecting on Donald Trump’s business model, it’s impossible to ignore the man’s singular vision and focus. One of the most impactful elements anyone will notice about Trump is that he never shies away from being his authentic self. Called a “Wizywig” by experts like David Urban, Trump is every bit of the acronym “What You See Is What You Get”.
Trump never fails to be himself, putting his personality and ethics into everything he does. While most entrepreneurs start their own companies because they have a unique idea for their own company, it’s easy to lose sight of this differentiating factor that diversifies them from other business owners. Trump’s businesses remind us that to succeed, you have to hold tightly to your unique vision for your business.
While entrepreneurship isn’t an easy path, remaining true to yourself will help you connect with the right people. Though many people don’t support him, it is Trump’s unflinching commitment to being himself and following his vision that makes him a favorite amongst his fans and supporters. The same will be true for you as you continue to champion your own personal vision for your business.
2. Make Room for Marketing
Another lesson to take from Donald Trump is that marketing should always have a place in your business model. While entrepreneurs often grow exhausted of having to handle everything themselves, without proper marketing, a business won’t ever experience the growth it needs to succeed. David Urban points out that marketing is something that Trump does often and does well. Whether it’s his frequent tweeting or his masterful messaging during his campaign stops, or consistent appearances in the news cycle, Donald Trump is never one to shy away from getting the word out about himself.
Entrepreneurs that are frustrated with their company’s rate of growth should take a leaf out of the Trump business model. With persistent marketing efforts, you’ll be able to connect the gap between your business and your target audience’s needs.
3. Cultivate Unhappiness and Grow Your Target Audience
Though Donald Trump may get a bad rep for his “negativity” across the Twittersphere, the reality is that Trump knows how to properly harness negativity and make it work for him. Trump is a master of seeking out unhappiness and finding a way to change the narrative. Any successful entrepreneur must create a service or product that meets the needs of their niche audience.
Where there are unhappy consumers, there is an opportunity to introduce a new brand that will solve consumers’ issues. In Trump’s professional and political career, he continues to find ways to speak truth to his audience’s problems as he had a solution to any of his supporters’ issues. As entrepreneurs work to refine their business models, they should take care to use this lesson in transforming unhappiness to their advantage.
The pull that Donald Trump has is undeniable. Aspiring entrepreneurs and small business owners would do well to apply the lessons from Donald Trump’s business model and practices to their own companies.
