The Trump Blog

Ideas and Opinions from Donald Trump and TrumpU Faculty.

Home : Ode to Small Business Owners

Ode to Small Business Owners

A A A

Permalink


Chairman, Trump University


In my world, almost everything revolves around big business. I deal with big corporations and big lenders and big builders--big entities all around. But I have incredible respect for small business owners. There are millions of them in the United States, and they are a powerful force, driving our economy.

Yet, small business owners are also at a disadvantage because they often don't have many resources available to them. Unlike larger business entities with the funding to offer company-wide seminars or to subsidize continuing education, small business owners don't have the usual mainstream places to turn when they need advice on how to grow their businesses. When a small business owner has a staff of only a handful of people, it's hardly practical to hire a coach to dispense business advice. Then, where can the small business owner turn for high-quality and cost-effective resources?

This dilemma is one reason I saw the need to create an online learning environment like Trump University. I wanted to have a place where owners of small businesses--businesses that are just as critical to our economy's livelihood as big corporations--can turn to learn about critical business strategies and advice. These leaders need to understand how to hire, manage, motivate, and develop their employees. The Internet is a great tool for those kinds of resources, although I admit they're few and far between.

Surf around all over the web. Look for advice on how to reach your customers, how to raise your capital, and how to expand your business. The resources are right at your fingertips. I know you'll find that kind of help here at Trump University. It's the best advice from the brightest stars in the business field. I certainly wouldn't put my name on it, if it were anything less.

Donald J. Trump is Chairman of Trump University.

Please log in or join to comment.

14 Comments

[-] Posted by Wannabe Entrepreneur on 09/13/2005 3:37 PM
Thank you for providing this opportunity! I appreciate it!

4312
[-] Posted by Teresa C. on 09/13/2005 6:36 PM
I really need a business coach. I have a small business (sideline) and playing
[-] Posted by George on 09/14/2005 4:12 PM
I would like to start off with saying thank you Mr. Trump. It's true small business drive more than 50% of the nations payroll. This wouldn't be America if people didn't take chances to become small business owners.
[-] Posted by Mike on 09/15/2005 8:29 AM
As an owner of a small business, I fully agree with every point noted. It is so easy to burn out when you need to wear the hats of at least a half dozen professionals. One of the best quotes I have ever heard is to "surround yourself with the best people". In small business, that statement is probably the most important advice I can think of. If you only have 10 people working for you, and one is not on top of their game, your staff is now ten percent inefficient. As a small business owner, your time is as limited as a large corporation's CEO. You just can't afford to waste it on underachieving employees. It's nice to have someone like yourself who is willing to provide advice like this to small business owners. Thank you for such a great resource!
[-] Posted by Barry Flaherty on 09/15/2005 8:54 AM
Hey Mr Trump,

I am little guy over here in Europe with big ideas...and tomorrow's next goliath's grow from small acorns as many new success stories have shown. I would welcome support from you or others about an exciting concept or two I have going on...one if for a holistic centre and land development in the Greek Islands and the other is for a TV format and ground breaking concept called "Hidden Depth" taking on the real issues and showing the real heroes in the local and wider international community.

Please email me for more details.

barry
[-] Posted by Kelly on 09/16/2005 8:19 AM
Thank you Mr. Trump for sharing the knowledge you've gained along the way. Sincerely ...Thank You
[-] Posted by Steve Wells on 09/16/2005 5:07 PM
Amen from the peanut gallery. I have to say it's also truly interesting to watch you on your TV show. Excellent theater!
Seriously though, education is like money and the question and answer attibuted to Armand Hammer, who when asked "how much money is enough", alledgedly replied"just a little more". Best wishes for your continued success. (and can I carry your briefcase? just for a couple of days?) :)
[-] Posted by Alexander Orok on 09/17/2005 6:23 AM
Hello Trump, Your principles stimulate me as a young person striving to survive in this lonly world. Thanks for everything.

I believe after carefully studying your wealth criteria, I would be able to come up with outstanding impact in my country and vicinity at large. Nigeria will be greatful for such a knowledge. Thank you once again.
[-] Posted by Casey Ellsworth on 09/17/2005 12:24 PM
I recently had the amazing opportunity to meet Mr. Trump briefly at a convention he was speaking at in Colorado. Like the other bloggers, I own a small business, a real estate investment brokerage that is growing much faster than I anticipated. One month after I started my company, my husband was diagnosed with Acute Lymphoblastic Leukemia. No insurance, no savings, no weekly paycheck. At 27 years old, we were living the happily ever after with a brand new home, our 5 year old little girl, and our son had just celebrated his first birthday. I refused to let my family down "on my watch" so to speak, and officed out of hospital rooms and doctor offices for the next year. I spent countless nights searching for any and every way to find clients. And it worked. My business grew and flourished though I had no formal growth strategy in place. Sadly, my husband passed away on Fathers Day 2005, one month after his 29th birthday. He was indescribably proud of my company and success and he, like I, can't wait to see where it will go. Fueled
[-] Posted by Crystal - Aussie on 09/19/2005 9:54 AM
Casey's post just goes to show - you don't have to be running a big business to be an inspiration. My hat is off to you too, Casey. Go get em, girl!
I agree that there are many sections of society that are undervalued and underappreciated - small business being ONE of them. One of my dreams here downunder is to set up a cooperative approach for startups to get pooled access to key advisors - legal, tax, accountant, mentors, etc. - so they don't have to find them and fund them for themselves. Actually, I'd love to see it as a model where it was free after passing interview selection - except that once the business was built up to profit levels with the help of the co-op, the agreement would be to then fund another startup through the process. Right now, my focus is on building my own, but one day... After all, the strength of small business has got to include the ability to think and adapt 'outside the square' solutions, right?
[-] Posted by Tammy Barbour on 09/21/2005 10:28 PM
Mr. Trump, you are the inspiration of many business owners here in Georgia. As the Editor of GeorgiaCEO Magazine, and the Director of the Executive Roundtable, a "cooperative", I want you to know that your expertise is needed and appreciated. I will encourage all of our members to visit Trump University to benefit from the online resources you provide. Looking at your course list they are right on for many of my business friends. I am greatly anticipating your Brand Identity Course! I can't wait to enroll. The small business owner is a brave soul. Thank you for thinking of our need of affordable but expert guidance in our business development.
[-] Posted by Scott Jones on 09/27/2005 5:41 PM
There are two sides to this coin.

While, on the surface, this resource disadvantage seems to be logically true. The fact of the matter is, that given the rapid development of the software on-demand environment, small business owners actually have a lot more, affordable resources than they know about. They can get big-league capabilities for minimal capital expenditure. The problem lies with small business owners not knowing about, or having the time to investigate, what's out there for them.

In many cases a small business is actually at an advantage. I know. I've worked for some of the Fortune 500. Big companies move too slowly through layers of red tape, they are less flexible in their offerings and much less flexible on deal structures.

A lot of this perceived disadvantage is due to a) lack of awareness (hey ... they have a business to run) of what is available to them and/or b) the disadvantage notion has been fed to them so many times that they believe it (a destructive self-limiting belief). Yes, I'll be the first to aknowledge... there are challenges like "no one ever got fired for hiring IBM", lack of capital and runway to endure the path to success. All valid and true.

In August of this year I published some of these tools that are available to the big guys and the small guys. This is just a smattering but I hope it helps.

If you can dial in on the right tools that are out there for you, Mr. Small Business Owner, YOU have the advantage. Take it.

My weblog is entitled <a href="http://trustedadvisor.typepad.com/revolutionary_marketing_a/"> Revolutionary Marketing and Sales Strategies</a> and is dedicated to enabling well-aligned executive level relationships across vertical markets.
[-] Posted by Indra on 10/04/2005 2:19 PM
I want to echo Teresa's comments below. I too have started a business on the side simply because I felt that the big corporation I work for cannot provide me with enough challenges or the speed I need to thrive in terms of a "clear vision and decisive decision making". However, I am very grateful for the bills that it pays. I congratulate you on the TrumpUniversity concept and the approach you are taking to reach the market. My new business, not yet lauched will also be based on blogs and and electronic marketplace. The concept was conceived in July and I plan on 2-phase launch. The blogs to be live b y Oct 15th and e-marketplace will be launched in the New Year when I return from my trip to Africa. Its been an amazing journey so far! We do live in a world where we are bombarded with information, understanding the relavancy and applying strategies (business and technology) that will sustain the business in the future is key! Just making a decision on the hosting partner and underlying technologies became quite complex because of the myriad options available. Anyway, I could go on but you can always tune into my blogs starting Oct 15th... I look forward to learning from you Mr. Trump!
[-] Posted by Ken Ritchie on 10/09/2005 4:28 PM
My very first visit tonight, so please accept my heartfelt congratulations on the concept, Mr Trump! Also impressed with your 'Apprebntice USA' TV programs.

I've been working since 1961 and have been a consultant and accountant operating a small UK advisory business since 1979. My only financial disaster was in 1992 buying my own office block and setting up a business 'nursery'. I wish your courses were available then, Mr Trump! However, when you know how to make money, you soon climb back! :)

I'm now also part-time teaching in prisons, and have completed my teaching qualifications, because it's nice to put something back into society. I've been enjoying my career thus far, having worked in the larger Avis and Bristol-Myers level companies, as well as in UK companies, enjoy accounting, especially the forward planning and internal control security activities, find tax easie-peasie, and advise small businesses.

My hat is off to Casey, and wish her every success. Please let your business grow at a pace you can control, and which is not disruptive on your health, your happiness or your family! It's too easy to get stuck with working to midnight!

Teresa, and Crystal have, to my mind, identified a real and possibly global need: - On-tap advice to support emerging new businesses! It's something I dearly wanted to do, in my own small way, but the internet now makes it possible. It's surely a good business proposition for you, where people sign up and pay a nominal reqular monthly amount for support, Mr Trump? If this is of interest to you and your faculty, please contact, as I would be pleased to play a part!!
Please log in or join to comment.
Why do you need a personal real estate coach?  * To find profitable real estate investments * To negotiate deals like a pro * To close deasl and make money.  Get Started Now!
Get the Feed
AddThis Feed Button
Search This Blog

See how you stack up against Donald Trump take our FREE entrepreneurship test.

Follow Us on Twitter
Become a Fan of Trump University's Facebook Page
Trump University on You Tube
How to Change the World
Tom Peters
Conversation Marketing
Freakonomics
Marketing Excellence Blog
Rajesh Shakya

TrumpU Books

Trump Real Estate 101 Trump University Real Estate 101 Building Wealth with Real Estate Investments

Trump Commercial Real Estate 101 Commercial Real Estate Investment 101 How Small Investors Can Get Started and Make It Big

more...