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Trump University Entrepreneurship 101: How to Turn Your Idea into a Money Machine, Second Edition by Michael E. Gordon

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Feel the Fear Do It Anyway
stuck, my frustration goes sky high, and I have to do something. And that’s my
advice to you. Do something! Take one extremely small, frugal step in any
likely entrepreneurial direction. Action will lead you out of the wilderness.
Obstacle 10. I Still Don’t Think I Have What It Takes to
Be an Entrepreneur
As I mentioned in the preceding chapter, everyone has the potential to learn
and enhance their 11 Essential Entrepreneurial Power Skills. As your toolbox
of traits fills up, you may gain the confidence to jump into the Trying Game.
In any case, you will feel more in control of your life, more powerful, and less
powerless. Absorb the Essential Entrepreneurial Power Skills; set a course of
action to master each skill.
Now for my promise: Study the book through Chapter 7. Don’t continue
reading beyond Chapter 7 until you have identified an authentic, honest-to-
goodness, credible entrepreneurial opportunity. You have my personal guar-
antee that you will succeed. It is not possible to have a bona fide opportunity
in hand and not launch it. Your entrepreneurial passion will drive you at
harrowing speed to Chapter 22: “Launch Your Venture!”
These 10 obstacles are summarized in Exhibit 3.2. It would be time well
spent to work through this chart. Fill out the severity and priority of each
particular risk. Then figure out how to minimize or eliminate each concern.
This is an excellent opportunity to use your brainstorming skills.
Brainstorming as a Powerful Problem-Solving Tool
On several occasions, I have alluded to brainstorming
1
as a technique to help
you move beyond your obstacles. Brainstorming is a group thinking process
that is used to generate creative ideas and to solve complex problems. Here’s
how it works: A group of imaginative, positive, and willing people come
together to help you. A discussion leader, someone other than you, defines
the problem, communicates the rules, and maintains the momentum. These
are the rules to be followed by the group:
r
Put a chart on the wall with a concise statement of the problem to
be solved. Then encircle the problem with several other questions,
as we did in Obstacle 1. These “what to, how to, when to” questions
become calls to action.
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Get the ideas flowing. Absolutely no criticism or judgment of any kind
(good or bad) of other ideas is permitted.
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Quantity of ideas is preferable to quality.
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TRUMP UNIVERSITY ENTREPRENEURSHIP 101
r
Ideas are recorded and made visible during the session.
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Invent ideas to the “void,” until there are no more ideas to come forth.
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Place no restrictions on ideas. Be completely spontaneous. Nothing
is too far-fetched when you’re thinking way outside the box.
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Encourage one idea to build on another.
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Resist becoming committed to any one idea.
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Avoid defending any idea.
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Avoid repeating any idea, as if to give it credibility.
Downloadable Exhibit 3.2 Table of Obstacles and Risks
*
Concerns/Obstacles/Risks Severity
How to Minimize
1. Lack of financial resources:
Minimal personal assets and
borrowing ability.
2. Potential for financial loss: Start-
up capital and cash outflow after
zero stage.
3. Career risks: Loss of income
stream, loss of job environment,
burning bridges with employer.
4. Emotional: Lack of self-
confidence; self-perception if
business is not successful.
5. Pressure on family: Not enough
time or financial resources.
6. Health: Stress, long hours.
7. Lack of the Big Opportunity.
8. Minimal tolerance for risk in
general.
9. Inertia: “Just Plain Stuck.”
10. “I still don’t think I have what it
takes to be an entrepreneur.”
Source: The Center for Competitive Success, www.CompetitiveSuccess.com, “Table of Obsta-
cles and Risks.” Copyright
C
2000 by Michael E. Gordon. Used with permission.
*A blank version of this page can be downloaded from www.trumpuniversity.com/entrepre
neurship101 for your personal use.
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