Archives for July 2006

I hope that at some point in my life I will be able to tell you what it feels like to think as a billionaire, but in the meantime, I will tell you a little bit about Donald Trump’s Think Like a Billionaire, the latest business/motivational book I’ve picked up and read.

I’d just like to preface this by saying even if you don’t particularly care for “The Donald”, this is a book worth reading. Without a doubt, Donald Trump is one of the single greatest self promoters in the world, not to mention one of the most business savvy people around.

Yes, some of his antics are over the top (coming out with his own clothing line, telling everyone who will listen how great he is, etc.), but at the same time, don’t you think those over the top antics are what made him a household name?

Can you name even three other billionaire real estate magnates? I know I can’t. But, we all know the Trump name.

Anyway, back to the book.

I think the book was a good read and gave a lot of pointers on how to get yourself on the path to becoming wealthy. For example, if you want to be successful in business, you have to be willing to trust your gut and take risks. You also have to be willing to accept your failures, learn from them and then move on.

The only thing I would have changed about the book is it tends to focus on getting rich through real estate. Don’t get me wrong, I expected that, after all, it is how Trump made his fortune. But I was also hoping it would delve more into entrepreneurial sorts of things (starting a business, brand and image building, etc.).

All things considered, it was certainly worth picking up from the library and I would recommend it to all Trump fans as well as anyone who dreams of making tons of money.

Another book I had an opportunity to read while relaxing on the beach was The Irresistible Offer – How to Sell Your Product or Service in 3 Seconds or Less by Mark Joyner. I thought the title was catchy enough, so I went ahead and gave the book a try.

All things considered, I thought this was a pretty decent read. Although much of the information given is kind of common sense, Joyner does a good job of presenting the information from the viewpoint of both the buyer (your customers) and the seller (you).

Without going in to too much detail, Joyner believes that in order to turn a potential customer into a paying customer, you have about three seconds to capture their attention and make them believe your product or service is just as valuable (or more valuable) than the money you want from them.

The reason behind having such a short amount of time to convince a potential customer is because consumers are so bombarded with advertising and product information, they have instinctively learned to tune out items that are of little or no interest or offers that are just plain awful.

Most of The Irresistible Offer focuses on what an “irresistible offer” is and how to go about creating one.

Again, without going in to too much detail, according to Joyner, an “irresistible offer” consists of high ROI offer (a customer will get more from owning your product than they would just keeping their money or buying someone else’s product), a touchstone (something that quickly explains what you’re selling, how much it costs, why the customer should buy and why they should believe you) and believability (people know that if an offer seems too good to be true, it probably is).

So, if you can bring these items together, you have put together an irresistible offer and will have a much better chance of making a sale.

Joyner’s classic example of an “irresistible offer” was the old Domino’s Pizza “30 minutes or it’s free” guarantee. According to Joyner, the offer had a high ROI (if you’re hungry, you don’t have to wait long), a touchstone (you’re getting pizza in 30 minutes or less, or you don’t pay anything) and believability (Domino’s followed through on the offer).

All things considered, I thought this was a pretty good basic marketing book. While I don’t know if I will be rushing to add this to my own personal collection, it was certainly worth grabbing off the library shelves.

While I was at the beach this past weekend, I read a couple of interesting books in regards to business, entrepreneurship and just wealth in general.

One of the more interesting books I read was Millionaire Republican – Why Rich Republicans Get Rich – And How You Can Too! by Wayne Allyn Root. While I don’t classify myself as a Republican (I’m more of a fiscally conservative, socially liberal moderate), this looked like a pretty interesting read.

All things considered, I’m pretty glad I read the book. While Root was a bit over-the-top in regards to his Republican stance and self boasting, Millionaire Republican was an easy read that had some valuable points.

The core of the book is very pro-entrepreneur, which I liked. I’ve said it time and time again, if you want to make it big (I’m talking tens of millions of dollars) you need to own a business, and Root does a good job of driving this point home.

Another point Root really harps on (to the point of almost going overboard) is the fact in order to succeed at business, or anything for that matter, you have to be an optimist (Republican) because if you are a pessimist (Democrat) you will do nothing but drag yourself and your business down.

I full-heartedly agree with the point Root makes regarding the need to look on the bright side, however I’ve known enough pessimistic Republicans and optimistic Democrats to know that he is using faulty logic in equating the two political parties with the two different outlooks on life.

The other item that rubbed me the wrong way was Root’s boasting, in particular his claim that his company was the only publicly traded gambling site on Wall Street. That sounded a bit fishy to me (oh God, the pessimist is emerging) so I checked it out. It turns out, his company is traded on an Over-The-Counter board, so it’s not even a “real” stock.

Don’t get me wrong, I have no problem with people bragging about their accomplishments. I certainly wish I had this guy’s money. My problem lies with the embellishment of the truth. Don’t try to make yourself sound bigger than what you are.

In summary, I would recommend this book for anyone whose political views skew to the right and is looking for a quasi-entertaining, quick read.