Entrepreneurial Survival Stories

Donald Trump

The artful avoidance of bankruptcy
The brink: In 1990, Trump's net worth was estimated at $1.7 billion, but the real estate market suffered a significant decline that year, and many of Trump鈥檚 investments dropped considerably in value. In his book The Art of the Comeback, Trump says he was $900 million in the red. In March of that year, he announced that he might miss his $43 million principal and interest payment on Trump Castle.
The gutsy move that brought him back: Trump leveraged the possibility of bankruptcy as a bargaining tool, which secured a $65 million line of credit, allowing him to survive until the market recovered. Today, Trump reports his net worth as $2.7 billion.
Lesson learned: Bank on your negotiating skills.

Related Links
entrepreneur , success story