Who has given you the best advice about business? For presidential wannabe and serial business owner Donald Trump, his father has been the fount of knowledge.
The New York Times’ Jason Horowitz reports that it’s a case of 'like father like son'.
“As a salesman, competitor, courter of politicians and controversy, and above all, as a showboating self-promoter, Fred Trump was the Donald Trump of his day.”
The name of the 65ft yacht in the 1930s said it all – the Trump Show Boat.
Fred Trump built his empire through the construction industry, thanks in part to spotting opportunities at the right time: the 1930s US federal housing program encouraged workers to take out a mortgage and Trump senior made use of the loan subsidies.
From negotiating skills to squeezing the very last cent out of every dollar, Fred Trump relished doing business.
And he passed on his business-nous to his youngest son.
According to CNBC, an excerpt from a yet-to-be published biography of Donald Trump reveals one of his father's snippets of wisdom, given when Fred accepted an award for overcoming adversity.
"You must like what you do. You must pick out the right business or profession. You must learn all about it. … Nine out of 10 people don't like what they do. And in not liking what they do, they lose."
Loving what they do is a common theme among high performing business owners and entrepreneurs.
It’s what the franchising community asks of and expects of its franchisees and should be replicated in the franchise head office.
What’s your favourite piece of advice from a mentor?
