Think big - Millionnaire's thinking !

December 3, 2009

“I like thinking big. I always have,” says Trump. “If you’re going to be thinking anyway, you might as well think big.”

Lofty goals with a lofty ego to boot, Trump is not afraid of taking risks. His philosophy of thinking big typifies the strategy behind every single business deal Trump has ever made. From building the Trump International Hotel and Tower in Toronto, which will be the tallest residential tower in Canada when completed, to installing a seven-story waterfall in the lavish marble atrium of the Trump Tower, Trump either does it big or goes home.

Recalling the criticism he got when he first unveiled his waterfall design, Trump says, “Most of my people at first favoured putting paintings on the wall. To me that was old-fashioned, unoriginal, and just not very exciting. As it turned out, the waterfall proved to be an art form in itself, almost a sculptured wall. And it attracts far more attention than we’d have gotten if we’d put up even some very wonderful art.”

Trump considers his ability to think in larger than life terms one of his greatest strengths and a major reason for his significant success. “Most people think small because most people are afraid of success, afraid of making decisions, afraid of winning,” he says. “And that gives people like me a great advantage.” Trump is not afraid to go after what he wants, nor is he afraid of the consequences of his decisions.

Trump has gotten to the top of his game today not by following his competitors and going with the flow, but by daring to do things differently. “Sometimes it pays to be a little wild,” he says. When other developers were lowering their prices during the real estate slump, Trump was raising his. When others were focused on building medium-income housing, Trump was designing million dollar condominiums. And, when others were losing faith in the market’s comeback, Trump saw only possibilities.

Anything that Trump touches seems to take on a mystical aura. This is because Trump sells fantasies and dreams and things that most people don’t dare to imagine. “We took our strengths and promoted them to the skies,” Trump says of Trump Tower. “From day one, we set out to sell Trump Tower not just as a beautiful building in a great location but as an event.” Indeed, Trump’s ‘events’ are beyond what most will ever attend in their lifetime.

But, Trump cautions that thinking big does not necessarily mean seizing every opportunity that comes your way. Often times, rather, less is more. “If you go for a home run on every pitch, you’re also going to strike out a lot,” he says. “I try never to leave myself too exposed, even if it means sometimes settling for a triple, a double, or even, on rare occasions, a single.” Trump has only managed to stay in the game so long by maximizing his options and diversifying his portfolio. From hotels to casinos to books to beauty pageants, Trump has branched out into different areas of business, not only minimizing his risk but also making a name for across a wider audience. By thinking big, Trump has turned himself into one of the biggest names in America.