Billionaire Entrepreneur's Business Lessons from the Presidential Elections 2016
I am stumped by Trump. I never once thought Donald Trump had the chance of winning the elections.
I followed the results on You Tube's NBC Live Stream Channel and these were some of the things I picked up as being the drivers for The Donald's victory.
I believe these lessons are applicable to every business owner and manager, especially from a marketing perspective.
1. Simple Message That Pops - Make America Great Again
The first time I heard of the power of this message was from Frank Kern, the super cool Internet Marketing guru. This was repeated several times by the guests in the NBC Studio.
Frank Kern suggested that it was the word "again" that had some NLP power that made it believable and galvanised his supporters.
If you are a business owner or entrepreneur or manager, simplify your message and don't complicate it. The simpler the better. And make sure it's compelling.
One analysis showed that Trump had a huge support base among the non-colleged voters. So it makes sense that if this is your target market, you use simple language. The same host said that Trump's message had more sizzle than Clinton's.
This is what Albert Einstein had to say about this...
2. Consistent, Authentic Message
I could have put this together with the first, but I think it's important enough to stand on its own.
Notice how, Trump was consistently and unapologetically brash throughout the campaign. He never once wavered in his opinion about things although it alienated many people. No matter how much you despise his message, you have to concede (no pun intended) that he was authentic.
In business too, you have to repeat the benefits of your product or service and not be distracted by the detractors. Every message will have proponents and opposers. As long as your supporters outnumber the opponents, you will win.
3. Understand Your Real Market
Donald Trump won the election by understanding the wants of his real market, despite what the mainstream media were saying. Trump was clear that his market was not the mainstream media who spewed vitriol, but the voters.
When you understand what your market wants and you create the right message and blast it out there frequently, it will stick eventually. If your message goes against conventional wisdom, then you have to work even harder.
Don't be distracted by the Talking Heads and pundits. There are people who are considered professionals and they think their opinions are always right. All the professionals thought there was a zero chance Trump would win. Even Wall Street professionals dismissed Trump's victory - so the market has dipped today.
There are doers and then there are the talkers. Success starts with what you believe. If you believe it so clearly that you can see it in your mind's eye, success is within reach, as long as you act on it.
And this is what Henry Ford had to say about your faith in your abilities...
4. Small Promotional Budget Not Really A Disadvantage
The NBC commentators highlighted that Clinton drew a larger amount of money from a smaller group of people and Trump had lesser amount but from a much larger group of supporters.
Trump apparently created a movement among the grassroots rather than the intelligentsia who were Clinton's supporters. The grassroots movement carried him to victory.
Even if your A&P budget is small, you can still beat the 800 Pound Gorilla, if you run a guerrilla campaign, which I believe Trump did. Many big companies today started as the underdog - think Apple, Microsoft & Oracle against IBM.
5. The Power of Social Media
With the mainstream media vilifying him, Trump eventually turned to Facebook Live Streaming to get his message to the grassroots. There was no censorship here and it was free.
So if you are a business owner with a wallet crunch, use social media (or new technology) to get your message across. You will always have a tribe here.
6. Start-ups Can Beat The Market Leader
Trump is a businessman and not a career politician. On the road to the White House, he has upended the Republican Party and also beat a seasoned politician. One of Clinton's self-proclaimed benefits was that she was an experienced politician.
More than experience, you need to have a fresh perspective to a problem. This is what entrepreneurs do. Provide solutions to problems. The majority of American voters believed in his solution(s).
If you're in a start-up phase of your business, just focus on the right activities that need to be done and you may eventually beat the market leader. You just need to be nimble and strategic.
7. Great Hair May Help
Ok, I'm just being funny here. Really, you don't need great looks to succeed in business.
On a personal level I resonate with each point above (except #7). I've been in several businesses where we were the new kid on the block, without much money and a bad reputation and we overcame the odds using these principles.
Do you have other take aways from this elections? Use the comment box below...