Donald Trump leads a group of business leaders through a grueling set of tasks resulting in a failure by one of them each week, until the last person to survive is hired as ‘The Apprentice’ to the Donald. The experience is unmatchable by any other business school or training and the public showing of each task gives valuable business lessons that Mr. Trump uses to build his business.
According to an article in the January 2007 New Man magazine, Donald Trump’s hit TV show ‘The Apprentice’ contains five valuable business lessons. This is my take and further elaboration of those five lessons.
1) Take Calculated Risks. Not just any risk, the world is full of risk takers, but few that take calculated risks with the odds in their favor.
2) Be Coachable. Everyone has a boss and everyone has people reporting to them. To keep everyone happy, it’s important to solicit feedback and change your leadership style or approach when needed.
3) Use Personal Influence. If you're not likeable, you will not be able to influence the people around you. So, find a way to become likeable. A good leader always finds a way to involve everyone. If one person on the team is upset, the entire team will suffer.
4) Don’t Whine. People don’t like whiners. People like individuals who can adapt to the circumstances, move forward and create solutions.
5) Deliver results. Price is important. Marketing is important. Managing cost is important. But, in the end delivering results is the most important. You have to deliver.
When I first read these I didn’t give them much thought, but now after some time and experience of my own, I realize how valuable these ideas are. These five lessons can have a profound impact on your business, as they have mine. Re-read them from time to time just to keep them fresh in your mind.