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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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c17 JWBT144/Gordon September 3, 2009 7:22 Printer Name: Courier Westford, Westford, MA
TRUMP UNIVERSITY ENTREPRENEURSHIP 101
computer networks, information technology, communication systems,
software programs, wireless capabilities, manuals for operations, quality con-
trol, purchasing, and personnel, to name but a few of the underlying support
services. Productivity, efficiency, professionalism, and profits suffer without
effective infrastructure.
6. Imagination Resources
Liberate the power of your own imagination. What other resources can
move you faster and further? Depending on your business, they might
be access to the marketplace through distribution channels, access to
international markets, a recognized brand, access to door openers of all
kinds, strategic partners, key customers, key suppliers, key support services
(marketing, advertising, publicity firms, toolmakers, subcontractors), stake-
holders, strategic advisors, directors, core competencies of all kinds, your
ability to negotiate, your strategic business plan as a living document, and
people-who-know-people-who-know-people resources.
One example: Frederick Gillis III, a successful financial advisor and
entrepreneur from Boston, knows how to use imaginative resources in the
pursuit of opportunity. Gillis noticed that hog farming in the Midwest had
profit potential under the right conditions. The operations are complex,
timing is crucial, and many things need to go right. His solution was to
mobilize an alliance of partners, service providers, and physical facilities.
Through contacts from national clients, he developed long-distance rela-
tionships with a feed mill, a veterinarian, a facilities manager, and a risk
manager. Today, Gillis turns over 70,000 hogs annually from a distance
of 2,000 miles. There are no limitations for the imaginative, resourceful
entrepreneur!
How to Mobilize Your Needed Resources
Whenever I am on an entrepreneurial scent, my starting point is to create a
Milestone Chart. Recall that I had signed an Offer to Purchase Agreement,
and I needed to mobilize resources quickly to reach a decision within 10 days
about whether to sign the Purchase and Sale Agreement. Timing was very
short, but fortunately I am good at mobilizing resources.
Look at Figure 17.3. This Milestone Chart enabled me to visualize what
needed to happen and when. From this vantage point, I went on to create a
detailed list of specific resources to reach each milestone. My phone, computer,
and feet were humming as I mobilized all the necessary resources.
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