Bill Rancic, the winner of the first Apprentice, delivered the keynote luncheon address during the AREAA Global and Luxury Summit held April 19-21 at the Trump International Hotel & Tower in Chicago.
The setting for these unbelievably moving and inspiring remarks on the nature of entrepreneurship was particularly fitting: a native of the city, Bill helped bring the Trump Tower to life working for Donald Trump after winning The Apprentice.
He opened his remarks by explaining that he firmly believed that the trait most important to success was the ability to not just recognize but to seize an opportunity. Rancic described an early entrepreneurial adventure running a makeshift restaurant at his grandmother’s house, serving pancake breakfasts for the neighborhood ladies, who turned out to be excellent tippers. He managed to turn a boring weekend at grandma’s into a money-making enterprise because he saw opportunity.
He then detailed the launch of his Cigar of the Month Club, which he built up with out-of-the-box guerilla marketing tactics. “I was never satisfied,” he said. “I always wanted to make the business, bigger, better, more efficient.”
Then the rise of internet-based subscription services started to erode his customer base and he had a revelation. “The world around me is changing so I need to change or I’ll become extinct,” he explained. He shifted focus and started selling his cigars direct to casinos.
Of his rise to the top in “The Apprentice,” Rancic called the entire experience life-changing.
“I was one of 215,000 applicants and made it to the final 50 who were invited to the in-person auditions. I was thrilled to learn that I was chosen to be part of the show, even though I was the last person chosen,” he said.
When he asked himself, “Why me?,” three things bubbled to the top.
First, he understood what he calls “practical execution,” or in other words, that actions speak louder than words. Second, he understood the importance of agility. And finally, he understood managing risk and the fear that is inherent in risk.
His insights on this topic are powerful, when he explained that most fears are learned. Babies are only afraid of falling and loud noises. We acquire any other fears along the way.
He said he often reminds himself of a quote from Ralph Waldo Emerson, “Do what you are afraid to do and success will find you.”
As he continues to breed success in his endeavors, he focuses on three key traits: be a good decision maker, adopt a never quit mindset and understand the power of potential.
“It’s up to each of us to make our potential grow and multiply,” he said. “And at the end of the day, tough times don’t last, tough people do.”
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