Archive View (August 2007)

Customers are the source of all your financial returns - your revenue, profits and cash flow. Satisfying them while making a profit at the same time can be difficult. But doing so is the only way to remain successful over time. Many books have been written about customer satisfaction, some of them quite complex. But any organization can manage customer satisfaction by following my COPS model, which stands for Culture, Organization, Process and Strategy. My book Trump University Marketing 101 explores the COPS model in depth. But here’s an overview that can help you review how effectively your organization is satisfying its customers more...

In the 1930s, the German government had printed so much currency that its money nearly lost its value. One story tells of a woman who pulled a wheelbarrow full of money to buy some bread. When she came out of the baker's to get her money to pay for the bread, someone had stolen her wheelbarrow and left the money. Hyperinflation devalues money. And while the social, political and financial environments that enabled Adolf Hitler to be elected German Chancellor in 1933 were complex, his rise to power was in no small part due to the middle class having their savings wiped more...

Trump University’s new contest let’s you ask Donald J. Trump any question you want about success . . . and win a course from Trump University too We announced our new Ask Donald J. Trump contest two weeks ago. Dozens of questions are pouring in. So . . . do you have a question that you’re dying to ask Donald J. Trump? Now's the time, because the contest closes on September 15th. Here’s how it works. Trump University is sponsoring a unique new contest that could let you ask the great Donald J. Trump any question you would like.  The deadline for submissions is September 15th. It’s easy! Simply more...

The most awaited issue of U.S. News & World Report has hit the newsstands. You know - the one that ranks top American colleges and universities. It’s being snapped up by eager parents and kids who are looking for the college that’s right for them. And did you know that Trump University is not listed among the top schools? In fact, Trump University is not listed at all. We didn’t expect to be, because we are not a degree-granting institution. (Not yet, at any rate.) Our name should not appear alongside Harvard, Yale or Princeton. Let’s be realistic, we are a very more...

I know it doesn’t seem fair, but getting angry at work can be good if you’re a man and bad if you’re a woman. A man who gets angry at work may be admired for it. Yet a woman who shows anger in the office is often seen as “out of control” and “incompetent.” That’s according to a new study from Yale University. As part of the research, people watched videos of job interviews and rated the status of the candidates based on how they reacted in various situations. When men got angry on the tapes, people assumed they made a lot of money more...

I’m known as the “Buy a Business Guy” at Trump University. And with good reason. I’m the professor who developed Trump U’s premier course, The Art of Buying a Business. I’ve also bought and sold many businesses over the years.  But between the purchase and the sale of the businesses I've owned, I’ve also run those enterprises - and I have run them well, too. I’ve also cultivated the habit of writing down my thoughts over the years - thoughts that I believe can help you run your business better and maybe even grasp that golden ring known as “success.”  I’d like to share some more...

Ricardo Bellino’s new international enterprise is vast in scope. Here’s how to apply his thinking to your next success. If you are a regular reader of The Trump Blog, you already know Ricardo Bellino. He is the gentleman who needed only three minutes to convince Donald J. Trump to partner with him on a major real estate project in Brazil.  Ricardo recently sent us news about his newest business venture, Casas Brasileiras. He also agreed to let the Trump Blog explain the thinking behind the enterprise. We’re sharing the news here because we believe that all the members of Trump University can more...

Trump University’s new contest let’s you ask Donald J. Trump any question you want about success . . . and win a course from Trump University too We announced our new Ask Donald J. Trump contest last week and already dozens of new questions have come pouring in. So . . . do you have a question that you’re dying to ask Donald J. Trump? Here’s how it works. Trump University is sponsoring a unique new contest that could let you ask the great Donald J. Trump any question you would like.  The deadline for submissions is September 15th. It’s easy! Simply submit your question more...

I read two disquieting articles in The New York Times just two days ago: “Credit Time Bomb Ticked, but Few Heard” provided a timeline that showed at a glance just how may subprime lenders have shut their doors since 2006. It also predicted coming bankruptcies and told the stories of young professionals who have put their home-buying dreams on hold while they ride out the crisis. “Loan by Loan, the Making of a Credit Squeeze” was even more disturbing. It told the story of a husband and wife in Connecticut who bought their first house for a relatively modest $180,000, but then paid for a new more...

What do you want to be when you grow up? When it comes to prestigious occupations, firefighters, scientists and teachers top the list in the eyes of adults. They’re closely followed by doctors, military officers and nurses, as well as police officers, priests/ministers and clergy, and farmers. Bankers, actors and real estate agents, however, are at the bottom of the list. (Poor real estate agents!) Not far above them are accountants, entertainers, and stockbrokers; union leaders, journalists, business executives and athletes. Perceptions for many occupations have changed a lot over the years. Over the past three decades, for example, the prestige for what teachers more...

The recent foreclosure crisis has caused some experts to say that this is a very bad time to invest in residential properties. The market is flat, they say, and sure to remain so for the foreseeable future. Don't listen to them. Since World War II, home prices have frequently jumped by 10 or 20 percent a year. It is true that on occasion, prices have held steady for as long as three to five years. There have also been times when certain cities have experienced severe downturns in their local economies, causing prices to fall temporarily. During the early 1970s, for example, more...

 "In March 2006, my husband and I attended a class with Denise DeVoe as the instructor. Since then, we have purchased over $2.3 million worth of properties [and achieved] a net worth of $700,000. We know that Denise DeVoe's class was the beginning of an improved lifestyle for us and our family. We would and do recommend her to everyone!" - Denise Barone People in cities from coast to coast have raved about Trump University’s free foreclosure seminars, hosted by Denise DeVoe. Denise is a powerhouse of a real estate investor. At the age of 19, she bought her first property. She has more...

Trump University’s new contest let’s you ask Donald J. Trump any question you want about success . . . and win a course from Trump University too Do you have a question that you’re dying to ask Donald J. Trump? Here’s your chance! Trump University is sponsoring a unique new contest that could let you ask the great Donald J. Trump any question you would like. Here’s how it works:  The deadline for submissions is September 15th. It’s easy! Simply submit your question as a comment to this blog post. (Click on comments in the shaded box that follows this blog post and follow the instructions.) Your question more...

 Some people might think billionaires don't have to impress anyone, but most of us still live by these rules. 1.      Be honest. Most people can smell a lie and will appreciate honesty, even if it's not exactly what they want to be hearing. 2.      Be on time. Punctuality is essential. You should never tolerate late arrivals and missed deadlines for yourself or from anyone else. 3.      Be self-deprecating and disarming. Don't be a bulldozer in business; save your hardest edge for when you need it most. 4.      Do your homework. Wasting other people's time due to poor planning and thoughtlessness will only leave a bad more...

The last few weeks have been anything but calm in the world financial markets. Just last week, central banks worldwide pumped an unprecedented $323 billion into money markets to try to halt declines and restore investor confidence in futures markets. During that same week China (which now enjoys the biggest trade surplus over the U.S. in history) threatened to use its U.S. dollar holdings against us if our government instituted new trade restrictions on Chinese goods. Then the French government intervened to shore up funds that had invested in failed American sub-prime mortgage lenders. And then there were the falling stock prices more...

I'm a New Yorker, so I tell it like it is. Be up front and direct with people, and they will return the favor. But sometimes, in more sensitive social situations, you have to consider the source and let it slide. In business and in life, I've heard people say things that are so outrageously incorrect that I don't feel it's worth my energy to say anything. Sometimes it's easy to just say, "You might want to check into that. I heard differently," and leave it at that. If you can avoid an altercation, do so, since most of them aren't worth your more...

Imagine you are given a huge list of ingredients and asked to use them in any way you want to prepare an elaborate dish. What do you think your chances would be of completing it successfully without a recipe or any guidance whatsoever?  Or let’s say that someone laid out 300 nuts, bolts, and assorted metal pieces and told you to “put it together” without even telling you what “it” is. Without any instructions, do you think you would wind up building the right thing?  Those situations are a lot like what many people do when they buy a business. They have ingredients more...

I am often asked what it’s like to be in Mr. Trump’s office during a meeting. The first word that comes to my mind is “energizing.” There’s no way one can be in a meeting with Mr. Trump without feeling a bit of a buzz, whether it be adrenalin or something else. It’s also true that there’s no way you can leave a meeting without feeling the residue of that buzz. I remember a very intense meeting a few years ago with one of Mr. Trump’s editors from Random House, which had proceeded at the rather typical--to us--breakneck speed. When the editor more...

I once knew a guy who had terrific ideas, would talk them up at hurricane force, and then go off and putter away at something else. He would lose his momentum before he even got going. What's the point? I've met some brilliant businesspeople in my time, but some of them will never be billionaires because they never act on those brilliant ideas. Twenty percent of your priorities will give you eighty percent of your productivity. You should always focus your time, energy, and efforts on the top 20 percent of your priorities; that's a four-to-one return on your investment. So if you have more...

“In Silicon Valley, Millionaires Who Don’t Feel Rich,” an article in Sunday’s New York Times, profiles a millionaire named Hal Steger. Mr. Steger, a marketing executive, seems to have it made. He and his wife own their $1.3 million house free and clear. They have more than $2 million in savings. Yet Mr. Steger still goes to his office every day, where he usually puts in 12-hour days. He’s betting on the start-up company where he works to hit it big so he can make some real money. And you know what? Mr. Steger is a very, very smart guy. He told the more...

Many Americans are giving up traditional vacations. The reasons range from having too little time off work to not having enough money to travel. But in many cases, people just aren’t in the habit of getting away from their jobs. All this has some experts worried. They’re afraid that workers aren’t getting away from their jobs long enough to relax - both physically and mentally. And, because of that, they’ll suffer from some kind of work overload. It used to be that many people took two- and three-week vacations. Now, according to a recent online survey, one-third of people say they took five or more...

You have spent a lot of time thinking about who your customers are. Perhaps you sell educational products to young professionals with children. Or you sell moderately priced clothing to retired people on fixed incomes. Yes, you know who your customers are, and that is essential. But the wisest marketers take it one level deeper. They  sell more - by understanding the roles of all the decision-makers who participate in a decision to buy. Let’s say, for example, that you own an auto dealership. One day a family of five comes into your showroom. They aren’t just a demographic group. They all are involved more...

I don’t know whether you watched the premiere of a new reality show called Flipping Out on Bravo TV last night. I did. The show will follow a real estate developer named Jeff Lewis as he buys, renovates and sells upscale houses in Los Angeles. Lewis engages in some pretty erratic practices. He consults psychics and spiritualists before buying or selling properties. Before he put his own house on the market, he replaced all his own furniture with special “staging” furniture that he keeps in storage for the purpose. Then he forced his eye-rolling staff to light candles and take part in more...