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We, as onlookers, can learn lessons from both, to reproduce the wins withoutsuffering the losses.
Its highly competitive, cutthroat even.
The world got a glimpse of this on The Apprentice long after I collaborated with him.
Everyone in that sector, but especially Trump, is aggressive with investments.
My experience working with him is that he is theultimate risk taker.
Fortune does in fact favor the bold Trump earned hundreds of millions by stepping forward when others shied away.
But bold risks sometimes come back to bite.
Trump has leveraged all of his real estate projects to the maximum most of them successfully.
However, his overuse of leverage led tono fewer than six separate bankruptcies.
He knows how to portray strength, which is a trait that later endeared him to many voters.
He was born of thecommercial real estatecrucible, which is even more competitive than tech.
Find ways to shore up your disadvantages going into a negotiation, and double down on your advantages.
Most of all, never hesitate to walk away if you dont like the direction the negotiations take.
And never underestimate the power of knowledge in a negotiation.
In Business and Investing, Knowledge Trumps All
Sure, money is useful.
But its just a tool, and only as effective as the person wielding it.
Dont invest in anything you dont understand.
Dont make crucial business decisions without gathering the facts you need first.
Underwrite Investments for Risk First
Yes, Trump took bold risks in his real estate business.
But they were always calculated risks, and Trump balanced the potential losses before the gains to be made.
How much money can you stand to lose?
If you cant afford to lose it, play it safe.
Through a cynical lens, you might scoff and dismiss any and all successes that Trump ever achieved.
Through a more inquisitive lens, you’ve got the option to learn a lesson about generational wealth.
The shrewdest among the wealthy plan not just their own success, but their childrens, grandchildrens and beyond.
Start with a simple question:What time horizondo I use in my financial planning?
The least financially stable and savvy live hand-to-mouth.
However, his high-profile bankruptcies and legal troubles underscore the importance of diversification andcareful financial planning.
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