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Think Like an Entrepreneur

The collective knowledge of a group is vastly greater than that of any one
individual; and therein lies the power of the brainstorming process.
4

8. Mobilize resources . You can’t accomplish anything without understanding
how to leverage resources, which, in the entrepreneurial vocabulary, are
anything, absolutely anything, that moves your venture further and
faster with the least risk possible. Categories of resources include: physi-

cal, financial, infrastructure, people, knowledge, and your own unbridled
imagination.

9. Communicate . You’ve assessed the situation, put your bold vision in
place, and established performance initiatives. Now what happens?
Nothing—unless you communicate consistently and constantly to all
stakeholders. Be clear with stakeholders about what you intend to
accomplish and what you expect from them.

10. Act decisively . Entrepreneurship is a contact sport. It is not only about

thinking, planning, coordinating, strategizing, and visioning—it is
about doing. Figure out how to get the task done. Be unstoppable in
its execution.
11. Behave with integrity . There are people for whom you would do anything,
and others with whom you would not waste your time; the difference is
the quality of the person’s character and behavior. Integrity, honesty,
trustworthiness, reliability, knowledge, professionalism, maturity, punc-
tuality, good negotiating and listening skills and, last but never least,
humor, are the qualities of successful entrepreneurs. Stick to these and
never waver.

Exhibit 10.1 on page 92 summarizes these eleven needed skills and
assists you in assessing your own strengths and challenges. To assist you
in building your Essential Entrepreneurial Power Skills, visit www.
trumpuniversity.com/wealthbuilding101 to download Exhibit 10.1 .

Overcoming Obstacles

Deep down, you may want to be in business for yourself, but there are real—
and perceived—obstacles and risks. Remember, entrepreneurship is a trial-
and-error activity; the more times you try, the more you learn, and the better
you get at rebounding. As mentioned earlier, my own track record includes
11 attempted start-ups, but only 6 resulted in businesses that produced oper-
ating cash fl ow.

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