27: Donald Trump’s #1 Secret to Success

Politics is not something we talk about here in the Wealth Formula World.

Admittedly I long for the days of William F. Buckley Jr. and Gore Vidal—a time when you could disagree on political issues without being disagreeable.

But in the modern era of the Trump presidency, pleasantries no longer exist.

Now whether you like Trump or not, I do think it is fair to say that The Donald has accomplished quite a bit in his life. He has done BIG things.

How has he done all of this? Well, it all starts with this quote—something Trump said years ago.

“If you’re going to be thinking anyway, you might as well think big.”

As an entrepreneur, I have found this to be true.

I was reminded of this while speaking to a friend this morning about whether or not he should consider starting a particular business.

The business model was solid, there was plenty of precedence for success, and the target demographic was clearly on the rise.

In sum, the business was viable and likely profitable. He might be able to make an extra 300K per year by doing it. That said, it would not succeed without some hard work. I suggested that he pass on it.

Now listen, I’m willing to work just as hard as anyone else. It’s just that if it’s going to be hard work, you might as well be working on something that might make you $3 million per year instead of $300K.

“Come on Buck! Let’s get serious here. Not all of us can create $3 million businesses.” You know what I say to that? BULL #%#%!

The truth of the matter is that those limitations are all in your head and if you pay attention to what’s going on around you, that will become abundantly clear.

I know this to be true from my own experience as an entrepreneur thus far. I have owned multiple businesses and there is one fact that I have learned that now dictates how I approach any new business or investing venture.

It takes the same amount of work to succeed in a five figure business as it does an eight figure business.

I know this because I own an eight figure business and it’s a lot of work for my team. But if we worked even harder, it wouldn’t mean we would get to nine figures.

The business I’m referring to generates an eight figure revenue when it is doing well because of the specific industry and niche.

In other industries and niches, a successful business might be capped at six figures. Or, conversely, it could be the case that the industry and niche allow for nine figures.

The secret is that whether you make $100K per year or $10 million per year does not depend on how hard you work.

It depends on the business and market that you choose.

If you own a medical business where hundreds of thousands of dollars are flying around, you are likely better positioned for profit than someone who owns a barber shop.

This principle applies not only to business owners but to employees as well.

I have orthodontists in my accredited investor group who are making well over a million dollars annually who are no smarter or harder workers than pediatrician friends of mine barely making six figures.

From a financial perspective, those Saint-like pediatricians just didn’t choose very wisely :(.

So what’s my point?

My point is that when choosing a business to start, to buy, or in which to invest, consider not only the viability but also how big the opportunity could be.

You should make sure that your upside is not limited.

Your money, like you, is going to work just as hard no matter where you deploy it. It is up to you to determine how productive that work will be.

“If you’re going to be thinking anyway, you might as well think big.”