
P1: OTA/XYZ P2: ABC
c01 JWBT144/Gordon August 27, 2009 12:58 Printer Name: Courier Westford, Westford, MA
1
Trump on
Entrepreneurship
by
Donald Trump
E
ntrepreneurship starts with vision. Without a vision, nothing of conse-
quence will happen. In 1974, I looked at the old Commodore Hotel, next
to Grand Central Station in New York City. I did not see a huge, dilapidated,
nearly empty building in a seedy neighborhood. I did not see a bankrupt city
or the New York real estate market, struggling to survive. I saw a magnificent,
first-class convention hotel complex—grandiose, luxurious, and noteworthy.
I was a young man of 27, and my vision felt rightsized.
As I made plans to acquire and rebuild the Commodore, I uncovered
seemingly insurmountable obstacles. Many people with power had show-
stopping issues with my plan. The more involved I became, the more daunting
were the problems. But I didn’t give up. To me, every problem is a well-
disguised potential opportunity. Let’s face it, if it weren’t for these obstacles,
that building would have already been snapped up by someone else. Think
about that: The obstacles you face also keep out your competitors.
Problems are just the door to success.
Of course there were risks. I am willing to take reasoned risks, but I won’t
roll the dice. I manage risk so that one nonsuccess does not put me out of the
game permanently. The biggest risk in life is the unwillingness ...