The late 80’s featured a recession, brought about partly because of banks, that was very similar to the recession that we have been facing for the past 2-3 years. The stock market, real estate, and people on “main street” all struggled, Donald Trump was not immune to this.

Real estate tycoon Donald Trump, now known more for his firings in his hit show Apprentice, had to go through a business bankruptcy in 1991. He decided to fund an investment venture, a 1 billion dollar casino, with “junk” [low quality but high yielding] bonds. Before long, these bonds went belly up and Trump was left without any other options. He failed so miserably that he almost had to file a personal bankruptcy as well.

Trump learned from this mistake and used his fame and capital to do well with real estate investments over the next 15-20 years. He is far from Bill Gates or Warren Buffet territory as far as net worth goes, but it is hard to complain about being worth hundreds of millions of dollars and being able to get whatever you want.

Trump saw bankruptcy as a setback, not a roadblock. He was more motivated to succeed after “screwing up” instead of less motivated. Instead of quitting or pursuing other ventures he stuck with it and ended up proving everyone who doubted him wrong.

You can make difficulties in life bring you down or you can use them to help take you to your ultimate goal, whatever it may be.



Source by Evan X Smith

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