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Business
Lessons from The Apprentice |
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It's rare for a reality
television show to capture much attention from the business world. But
during the 14-week span of the show featuring Donald Trump and 16 Trump
wannabes, The Apprentice was featured in business magazines such as
Fortune, BusinessWeek, and Forbes. USA Today published more than 20
articles about the show - in its business section. |
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Even for those who
dismiss the show as a sensationalized spin-off from Survivor with a
distorted resemblance to the real world, it's tough to deny that The
Apprentice taught us a lot about how business should - and shouldn't -
be done. |
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After you filter out the
conniving, the backstabbing, and the drama of the first season, five
valuable lessons remain: |
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1. |
Understand your customer |
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When Team Versacorp was
strategizing about how to sell hundreds of cases of Trump Ice bottled water,
Ereka enthusiastically cited the product's low mineral content as a great
selling point. Bill was quick to point out that the distributors they
were targeting didn't give a "rat's ass" about mineral content. They
just wanted to make money.
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Business Lesson: |
When selling to
consumers, demonstrate the benefits of the product. When selling to
distributors, demonstrate how they can make money with the product. |
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2. |
People don’t like excuses |
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Omarosa had an excuse
for everything. In the end, it was her unwillingness to accept
responsibility that brought her down. |
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Business Lesson:
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Demonstrate
accountability. You can't control the economy, your competition, your
product weaknesses, etc., but you can control how you position yourself and
your company to overcome challenges. |
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3. |
Believe in your product |
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When deciding between
two artists to promote at an art gallery sale, Team Protégé opted for the
more profitable artist. The only problem was that none of the team
members liked the bizarre art that depicted two sisters - one smutty and one
conservative - in a world run by frogs. Protégé was crushed in the
sales competition after mustering only one sale. |
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Business Lesson:
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If you don't believe in
what you're selling, you can't market it effectively. But if you're
convinced that your product has value, you'll be able to stand up to the
competition. |
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4. |
Don’t negotiate with
underlings |
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Several episodes of
The Apprentice showed the contestants trying to earn business from
people who didn't have the authority to buy. |
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Business Lesson:
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Don't take "No" from
someone who has no authority to say "Yes." |
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5. |
Stop selling once its sold |
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After Troy and Kwame
persuaded the 10-year-old producer of the Ferco Brothers circus to loan them
a tiger, Troy continued to sweet-talk the young executive. The wonder
kid interrupted and said, "Let me give you some advice in life: Don't
sell when it's already sold." Classic! |
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Business Lesson:
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Once you gain the
customer's commitment, focus on serving him, not selling him. |
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Watching
The Apprentice is
a bit like observing the business world in a funhouse mirror...everything is
a bit distorted but it's still very recognizable. Sales
pros shouldn't turn to reality television to enhance their professional
development, but we can reinforce some "what-to-do" and "what-NOT-to-do"
principles from the entertaining series. |
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