Watching The Big Idea Friday Night!

Yesterday I was watching the Big Idea with Donny Deutsch, featuring Donald Trump and the topic was Road Map to American Dream. One of the things that were embedded into my mind was when Donny Deutsch asked Mr. Trump: “What was the secret of your success Mr. Trump?” and Mr. Trump said to him: “Three things! Number One, never give up. Number two, love what you do and number three know your product.”

I will try to elaborate a little bit more in those three points for a better understanding. One definitely needs those three elements when starting a new business. Starting from number one: “Never Give Up.”

“Never give up” means get to cope with the present reality and have the courage to change the future. You see every, one of us has strengths and weaknesses. “Never giving up” phrase it’s knowing one’s weaknesses and be able to improve upon them every day. At the same time, “never giving up” is depending on one’s strengths to survive every day. These words of “never give up” might not mean anything to someone who feels secure in a 40-hour job, where there is little financial risk on a day-to-day basis. When that someone knows that he or she will get pay by next payday no matter what he or she does. But it means a lot more to people who every day is out in the market “hustling” for a sale. It’s a whole different world when one is self-employed. When one is walking in faith! Only then the “never giving up” phrase becomes alive and has a new meaning. It is not easy to coupe with rejection when one is out in the market selling. Knowing that one has a 50% chance to sell your service or product to someone that day.

When one is only paid by performance, which means commission only, one tends to appreciate more one’s craft much more than when one has a job. I believe that the “challenge” factor is very important for people to feel better about themselves and there craft.

That takes one to the second element: “Love what you do.”

“Loving what you do” means to have the discipline not just to perform one’s craft all the time, but to enjoy performing one’s craft all the time with out complaints. It is having fun while performing one’s craft all the time during profitable days and not so profitable days.

Last but not list is “Knowing your product.”

“Knowing your product”: means knowing every aspect of your product or service. How does it work? What it does? What are the benefits that it offers and drawbacks it has? What is the best way to market it? Who will be one’s target customer? One should go where the target customer it is most likely to be. Be able to network and create strategic partnership with others in the markets that are close to where one’s market target customer is most likely to be.