Category: Book Reviews

The Best Business Advice I Ever Received

I’m always looking to improve all aspects of my life. I hope we all are. I was browsing at the local book store and came across a great read: The Way to the Top: The Best Business Advice I Ever Received by Donald Trump

You can say what you want about Donald Trump. Everyone has their opinion of him. He’s extremely successful in many different areas of business and investing. I classify Donald Trump as a Winner when it comes to business. The Donald has a lot of knowledge we can learn by watching him on Apprentice and reading his books, but The Donald doesn’t know it all.

In The Way to the Top, Trump asks CEOs and Presidents of successful businesses to share a bit of wisdom and advice to those looking to improve their business sucesss. They share the same wisdom and advice they used to climb to the top of the business world.

From the Inside Cover

The host of the hit reality show The Apprentice presents an invaluable collection of grounded, hard-hitting advice on business success, from people who have made it to the boss’s chair at some of America’s most thriving companies.

How can you find the way to the top?

Ask people who are already there.

A lot of the advice and wisdom in The Way to the Top may be common sense and I’ve heard some of the wisdom before. I did enjoy hearing each CEO’s different views and perspectives, and I did learn some new things.

Honesty & Integrity

The two most common pieces of advice: always be honest and always maintain the highest integrity. You want your coworkers and business clients to trust you and believe you are working in their best interest. In order for them to trust you completely, you need to be honest with them and treat everyone with respect. Integrity is to keep you on the same path and deal with everyone equally and fairly – never varying or faltering.

I agree with these CEOs. Honesty and integrity are two crucial elements in building solid business (and personal) relationships. And to make it to the top of the business world, you need to have solid relationships with coworkers, customers, vendors and basically everyone you meet. You may end up doing business with them in the future.

What’s the best business advice you’ve ever received?

Leave a comment and let us know the best business advice you’ve ever received, including who gave you this advice!

Amazon

"Master the market with confidence, discipline, and a winning attitude."

Trading In The Zone by Mark Douglas examines the mentality and psychology of successful and unsuccessful traders, understanding our trading actions, and shows us how to strengthen the psychological aspect of trading. "In Trading In The Zone", Mark Douglas shows you how to analyze your mental strengths and weaknesses when you make trading decisions. He then shows you how you can correct flaws in your trading mentality and habits. The ultimate goal of Trading In The Zone is to eliminate trading based on emotions.

About Mark Douglas

Here’s a snippet from the Mark Douglas web site:

Mark Douglas, author of “Trading in the Zone” as well as the industry classic “The Disciplined Trader” ~ has developed products to help futures and stock traders ~ master the unique psychological trading discipline necessary to trade consistently and successfully.

Mark will help you discover what the most successful traders have learned to understand, and how to implement these specific psychological trading attributes and skills ~ attributes and skills which allow them to transcend the most common of trading errors that confine everyone else.

My Thoughts

Mark Douglas points out a major flaw many traders have: most traders are not consistent with their trading strategies and styles. To be a long term successful trader, you need to be consistent in your approach to Due Diligence, analysis, buying, selling and holding your stocks, and your approach to risk or risk management. Emotions are the reason for this inconsistency. I think he is exactly right about inconsistent traders and our emotions clouding our decisions and strategies. We need to develop our strategies and stick with them, and eliminate our emotions when we trade.

I am still developing my trading strategies and my own trading style. Like most traders, I have trouble sticking to my trading plan on a consistent, regular basis. One problem I have is not selling when I need to – when the stock is up or down. There have been many times when I have missed out on gains by not selling at or near my target price area, and then the stock falls, giving me less profits. There have also been a few times when I have not sold a stock that is down, leaving me to sell at a lower price. My problem of not selling at the correct time is not due to my strategy, it is due to my emotions. Trading In The Zone has helped me pin-point my own mental weaknesses when I trade.

Eliminate Emotions

Douglas constantly reinforces the necessity of eliminating emotions from trading, which I believe to be the single greatest obstacle of successful trading. Douglas provides numerous examples of trading weaknesses and emotional flaws, but offers advice on how to overcome them. With the help of Trading In The Zone, I am hoping to take my stock trading to the next level of success.

Winning Attitude

I highly recommend Trading In The Zone by Mark Douglas to any trader, from beginner to pro. The mental or psychological side of trading can be frustrating at times, and can lead to emotional based trading. We are – potentially – losing money when emotions cloud our logical reasoning and planned strategies. We can overcome our emotions and frustration with a winning attitude and strong mental state of mind (or peace of mind). Trading In The Zone has helped me trade more successfully and consistently. I believe "Trading In The Zone" by Mark Douglas can benefit you, too.

Amazon

Related Links:

• MarkDouglas.com – Mark Douglas’ web site.