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The Apprentice Rules The rules of business,as learned from the show. Rule 1: Step up and make a decision Contrary to popular belief, success is not a group effort. You have to trust yourself and step up to the task at hand.If you have a brilliant idea, go for it! Decision making is a key part of stepping up. Like Trump says in tonight episode, You can make a good decision, but if it takes too long, who cares? If you make a quick decision and it's the wrong one, you're going to be fired. It's that simple. You're got to hone your business mind to make split-second assessments and rapid-fire choices that are in concert with your business plan. Rule 2: Know when to shut up As a business executive, you must learn to listen. Not just to yourself but to the people around you.The reality is that if you don't listen, you'll find yourself losing business as well as employees. Rule 3: Think big but not that big I realize that Trump's lesson for this week was basically about staying on budget and watching every penny. The real lesson to take home here though is in thinking Big. I often see people with great ideas, but what they don't realize is that their ideas may be too big for them at the moment.It's like ordering 20,000 tubes of toothpaste without knowing the true dimensions of the boxes? Some people think that achieving success is a linear a-to-z process: a straight shot to the top.These people are not in touch with reality. There are very, very few real overnight success stories. It just doesn't work that way. The formula for success begins with getting out there and doing your homework. You have to know what you're getting into, before you get into it. Rule 4: Dress the part The way we dress says a lot about us before we ever say a word. Dress for the job that you want, not for the job that you have. To me, dressing successfully means understanding the environment you're working in. You need to know the culture and make an effort to reflect, and respect it. Rule 5: Be your own best financial advisor Let me now offer some final advice for entrepreneurs eager to capitalize on the next big thing: Do your research for a big-money payoff.Read and study magazines in great detail and pay attention to pop culture for signs of the next big product craze or innovation in product development. If you're able to hit a trend or fad early, you'll make much more money on it than you would from a more established line of business. Try a variation on an already viable trend. Always extend a trend, describing how, for example, the principles of the Atkins diet may be used to help children-or even pets-shed unwanted pounds. Consider a contrarian approach. One of the things I do, often successfully, is to go opposite the trend. If the hottest buildings in Chicago are smaller units-studios and one or two bedrooms-I'll start building very large ones. By the time I plan the building and get it built, which takes a number of years, there will end up being a glut of small apartments and not enough big ones.
The Apprentice Rules The rules of business,as learned from the show. Rule 1: Step up and make a decision Contrary to popular belief, success is not a group effort. You have to trust yourself and step up to the task at hand.If you have a brilliant idea, go for it! Decision making is a key part of stepping up. Like Trump says in tonight episode, You can make a good decision, but if it takes too long, who cares? If you make a quick decision and it's the wrong one, you're going to be fired. It's that simple. You're got to hone your business mind to make split-second assessments and rapid-fire choices that are in concert with your business plan. Rule 2: Know when to shut up As a business executive, you must learn to listen. Not just to yourself but to the people around you.The reality is that if you don't listen, you'll find yourself losing business as well as employees. Rule 3: Think big but not that big I realize that Trump's lesson for this week was basically about staying on budget and watching every penny. The real lesson to take home here though is in thinking Big. I often see people with great ideas, but what they don't realize is that their ideas may be too big for them at the moment.It's like ordering 20,000 tubes of toothpaste without knowing the true dimensions of the boxes? Some people think that achieving success is a linear a-to-z process: a straight shot to the top.These people are not in touch with reality. There are very, very few real overnight success stories. It just doesn't work that way. The formula for success begins with getting out there and doing your homework. You have to know what you're getting into, before you get into it. Rule 4: Dress the part The way we dress says a lot about us before we ever say a word. Dress for the job that you want, not for the job that you have. To me, dressing successfully means understanding the environment you're working in. You need to know the culture and make an effort to reflect, and respect it. Rule 5: Be your own best financial advisor Let me now offer some final advice for entrepreneurs eager to capitalize on the next big thing: Do your research for a big-money payoff.Read and study magazines in great detail and pay attention to pop culture for signs of the next big product craze or innovation in product development. If you're able to hit a trend or fad early, you'll make much more money on it than you would from a more established line of business. Try a variation on an already viable trend. Always extend a trend, describing how, for example, the principles of the Atkins diet may be used to help children-or even pets-shed unwanted pounds. Consider a contrarian approach. One of the things I do, often successfully, is to go opposite the trend. If the hottest buildings in Chicago are smaller units-studios and one or two bedrooms-I'll start building very large ones. By the time I plan the building and get it built, which takes a number of years, there will end up being a glut of small apartments and not enough big ones.
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