{"id":11943,"date":"2017-06-06T03:00:53","date_gmt":"2017-06-05T17:00:53","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=11943"},"modified":"2017-06-06T03:00:53","modified_gmt":"2017-06-05T17:00:53","slug":"what-donald-trump-really-meant-michael-yardney","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-donald-trump-really-meant-michael-yardney\/","title":{"rendered":"What Donald Trump really meant \u2013 Michael Yardney"},"content":{"rendered":"

Love him or hate him, Donald Trump can teach us a lot about success in life, business and property.\u00a0 We look at some of his famous quotes to get an understanding about what they mean.
\nTranscript:<\/strong>
\nKevin:\u00a0\u00a0<\/b>Everyone seems to be talking about Donald Trump, don\u2019t they? I\u2019m reminded of a number of quotes that Donald Trump is famous for. We\u2019re going to have a look at those today in the show and get an impression of what they really mean from\u00a0Michael Yardney<\/a>, who has also looked at them.
\nGood day, Michael. How are you?
\nMichael:\u00a0\u00a0<\/b>Hello, Kevin. I\u2019m well, thank you.
\nKevin:\u00a0\u00a0<\/b>Michael is a regular guest, of course, from Metropole Property Strategists.<\/a>
\nMichael, let\u2019s have a look at a few of these. The first one I want to ask you about is \u201cAs long as you\u2019re going to be thinking anyway, why not think big?\u201d
\nMichael:\u00a0\u00a0<\/b>Love him or hate him, Donald Trump can teach you some lessons about success, about life, about business, maybe not about politics \u2013 and definitely about property.
\nInterestingly, long before his catch cry of \u201cYou\u2019re fired,\u201d Donald Trump was famous for the saying \u201cThink big.\u201d In fact, it was the name of his first book. So, since we become what we think about all day, it takes no more effort to think big than it does to think small. So, I guess he\u2019s right: think big.
\nKevin:\u00a0\u00a0<\/b>Here\u2019s one that he\u2019d be reminding himself of, I guess \u2013 something that happened just recently. \u201cSometimes by losing a battle, you find a new way to win the war.\u201d He\u2019d be finding that a lot in politics, I would imagine.
\nMichael:\u00a0\u00a0<\/b>Yes, and even though this isn\u2019t a political podcast, it\u2019s hard to avoid that, isn\u2019t it?
\nI guess what he\u2019s suggesting there if you read between the lines is successful people see failure very differently to the average person. They sit it as a stepping stone to the next level. Every successful person I know \u2013 me personally included \u2013 has definitely had more than their fair share of failures. But each time, they\u2019ve gotten up again, they\u2019ve dusted themselves off, they\u2019ve tried again, and they\u2019ve learned some valuable lessons from what\u2019s happened.
\nSo, that\u2019s a big, big difference between successful property investors, business people, entrepreneurs, and the average Australian. They just get up one more time.
\nKevin:\u00a0\u00a0<\/b>Another one of the sayings from Donald Trump is \u201cExperience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper.\u201d
\nMichael:\u00a0\u00a0<\/b>I guess what he\u2019s getting at is experience teaches you lessons you can\u2019t learn any other way, so, learn from them. Kevin, I once heard that experience is what you get two minutes after you need it. So, what he\u2019s basically saying is that experienced investors will benefit from all the good and the bad that\u2019s happened to them. It\u2019s gotten you to where you are today. Take advantage of the lessons you learned along the way.
\nKevin:\u00a0\u00a0<\/b>Maybe this next one, Michael, is one that he should have taken into account before he ran for president. He said \u201cYou\u2019re generally better off sticking with what you know.\u201d
\nMichael:\u00a0\u00a0<\/b>Very much so. To become an expert property investor or at anything else, Kevin, it\u2019s best to do one thing a hundred times rather than try to do a hundred things once. We see a lot of people trying this strategy and that strategy, doing this business or doing that, and they never become good at it. To become an expert, what you have to do is have reproducible results, and the way you get that is by doing it over and over again.
\nKevin:\u00a0\u00a0<\/b>I\u2019ve actually heard you say this next one as well, and I\u2019d love to ask you about this one. He said \u201cSometimes, your best investments are the ones that you don\u2019t make.\u201d
\nMichael:\u00a0\u00a0<\/b>Yes, you\u2019ve heard me say that too, Kevin, that I\u2019ve made more money by saying no to opportunities than to perceived investment opportunities that you get coming in through your inbox and through people ringing you and telling you about things. I guess he\u2019s suggesting to weight up the pros and cons and make a judgment based on careful analysis.
\nAt this stage in the property cycle, for some people, the right thing to do is just nothing: hibernate, wait until the market moves on or the banks lend you some more money.
\nKevin:\u00a0\u00a0<\/b>It is a bit of a luxury. And this next one too is a bit of a luxury, where he said \u201cI don\u2019t make deals for the money. I have enough \u2013 in fact, much more than I\u2019ll ever need. I do it to do it.\u201d
\nMichael:\u00a0\u00a0<\/b>I guess here what he\u2019s saying, Kevin, is differentiating between loving money and loving the process of making money. If all you\u2019re doing is chasing money, you\u2019re never going to have enough, you\u2019re never going to be grateful, you\u2019re never going to appreciate it. There is a good point there, Kevin.
\nKevin:\u00a0\u00a0<\/b>Yes, good point. We only have a couple to go, but another one he said is \u201cI try to learn from the past, but I plan for the future by focusing exclusively on the present. That\u2019s where the fun is.\u201d
\nMichael:\u00a0\u00a0<\/b>Good point, Kevin. We\u2019ve all made mistakes and you can\u2019t change the past. I guess part of being a successful investor involves taking responsibility for your mistakes, learning from them, and not making them again.
\nClearly, Trump is flawed like all of us, so he doesn\u2019t worry about the future either. What he\u2019s saying is \u201cI\u2019m going to concentrate on now, I\u2019ll do the best I can, I\u2019ll be the best I can now.\u201d And that\u2019s probably helped all of us get good results.
\nKevin:\u00a0\u00a0<\/b>Another one \u2013 and there is a bit of a similarity with a lot of these \u2013 it comes down to how he thinks about money. He said \u201cMoney was never a big motivation for me, except for the way that I keep score with it. The real excitement is in playing the game.\u201d
\nMichael:\u00a0\u00a0<\/b>Interesting, isn\u2019t it? You can actually see some commonalities in what he\u2019s saying, Kevin; you\u2019re right. I think what he\u2019s saying is life is a game, and we\u2019re all here to have a good time, so take advantage of it while you can.
\nKevin:\u00a0\u00a0<\/b>Yes. The next one is very Donald Trump: \u201cShow me someone without an ego and I\u2019ll show you a loser.\u201d
\nMichael:\u00a0\u00a0<\/b>Yes, you\u2019re right; it is very Donald Trump. I guess many people see him as arrogant, but maybe what he\u2019s saying is it takes a confident person to lead others effectively. Whether you\u2019re in business or as an investor, having a strong, healthy ego helps you travel the bumpy roads towards success.
\nKevin:\u00a0\u00a0<\/b>I love this next one. Anyone could have said this, but he did say it, Donald Trump. He said \u201cIf you\u2019re interested in balancing work and pleasure, stop trying to balance them. Instead, make your work more pleasurable.\u201d
\nMichael:\u00a0\u00a0<\/b>Well said, isn\u2019t it, Kevin? I think we both are lucky enough to experience that. I know you very much enjoy what you\u2019re doing in your work, so it\u2019s not seen as work. I do also. One way to achieve this love of work is to find something you\u2019re passionate about \u2013 it doesn\u2019t matter what it is \u2013 and then try to pursue it.
\nKevin:\u00a0\u00a0<\/b>The final one I\u2019m going to leave you with is, I think, very appropriate and a great way to end this little segment with Michael. Donald Trump said \u201cWhat separates the winners from the losers is how a person reacts to each new twist of fate.\u201d So true.
\nMichael:\u00a0\u00a0<\/b>It is. It reminds me of that famous saying by Winston Churchill, who said the same thing in a different way. He said \u201cNever give up. Success is the ability to go from failure to failure without losing your enthusiasm.\u201d Sure, that\u2019s hard to do, and one way to do it is to surround yourself with good people, other people who are going to hold you up and hold you accountable and look after your back.
\nKevin:\u00a0\u00a0<\/b>I think you said right at the outset, Michael, no matter what you think of Donald Trump, great people we can learn so many lessons from. So, thank you for sharing your thoughts on those eleven pieces of wisdom from Donald Trump.
\nMy guest has been Michael Yardney <\/a>from Metropole Property Strategists<\/a>. Thanks, Michael.
\nMichael:\u00a0\u00a0<\/b>My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Love him or hate him, Donald Trump can teach us a lot about success in life, business and property.\u00a0 We look at some of his famous quotes to get an understanding about what they mean. Transcript: Kevin:\u00a0\u00a0Everyone seems to be talking about Donald Trump, don\u2019t…<\/p>\n","protected":false},"author":176692471,"featured_media":14660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[34,10,11,13,36,22,25,27],"tags":[101],"class_list":["post-11943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nWhat Donald Trump really meant \u2013 Michael Yardney - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-donald-trump-really-meant-michael-yardney\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Donald Trump really meant \u2013 Michael Yardney - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Love him or hate him, Donald Trump can teach us a lot about success in life, business and property.\u00a0 We look at some of his famous quotes to get an understanding about what they mean. 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