TRUMP: How to Get Rich by Donald J. Trump
Business Rule #1:
If you don’t tell others about your success, they probably won’t know about it. The Art of the Deal was a best seller, selling 3 million copies. Trump doesn’t do it all for the money, BUT money makes dreams possible. Trump is a billionaire author with a hit prime time television series called The Apprentice.
Business Rule #2:
Keep it short, fast and succinct.
Part 1: Donald J. Trump School of Business & Management
Trump has 20,000 employees and running a business is like being a general. Your employees’ lives are dependent on you and your decisions. Be careful when choosing new employees. Don’t get mediocre people. Attitude is important. Have people around you that you can trust. All of Trump’s senior officials are trusted people. Sometimes your employees need a jolt or they need to be cajouled. Cater your inspiration to the specific worker you’re dealing with.
The Late 80s, Trump lacked attention to his business, he loved Fashion shows and beautiful women. The real-estate market crashed in the late 1980s almost runined Trump. A begger on the street was worth 9.2 Billion dollars more than Trump was in 1989…Forbes was very pleased with Trump’s crisis. Fortunately, Trump has allies in the banks, at 3am Trump walked to CitiBank. He phoned Japanese, Austrian banks. Trump personally guaranteed a billion dollars. Trump suggests that you never guarantee anything in life.
MAINTAIN YOUR MOMENTUM: don’t marry the wrong women, don’t retire from you business. Mr. Levitt lost his momentum. He left the world of business for 20 years. No matter how much you think you know your business, you need to be re-trainned regularly. Whatever you are managing, don’t assume you can glide by without constantly refreshing your knowledge.
Part 2: Career Advice from Donald Trump TAKE CONTROL OF THE INTERVIEW:
First impressions are deceptive. Don’t always assume that the boss will hire with a great interview. People are looking for a skilled intelligent person.
ASK FOR A RAISE AT THE RIGHT TIME:
Don’t ask the boss on the worst possible day. If everyone is down do not ever ask for more money. You should seriously consider asking for a raise on a sunny beautiful day.
Trump is building Trump Place. It is an example of why tenacity is a good move. He has been trying to build this for 30 years. Trump built a golf club: Trump International golf club. Trump is extremely supportive of golf courses. People with passion will never give. It is a momentum that will make you indominable. Some people should stay out of business. If they aren’t passionate then they should move onwards to something else. Don’t do something you don’t like for a living.
Turn your passion into profit.
NEVER CONFUSE FACTS WITH FICTION.
DON’T FEAR THE BRAND NAME:
Brand names are a way of holding standards. Who is going to eat a No Name brand hamburger? Who would you sue? The name is crucial. We all know the power of brand names. It is a viable outlet for creativity. Becoming a brand name is an excellent thing. An unknown developer is not going to be successful. The problem with brand names, the media will take a shot at you. Don’t be afraid to brag a bit. Toot your own horn. Celebrate your successes.
It’s not personal, it’s business.
GO WITH YOU GUT:
Have some instincts, and follow them. You need to gain strong business instincts. Trump knew within seconds that Mark Burnett was going to make The Apprentice excellent. Our conscious minds are useful but the unconscious tendencies will be crucial for decision-making. Learn to read people’s gut reaction.
BE OPTIMISTIC BUT EXPECT PROBLEMS:
Don’t be surprised. Be prepared for problems. Always be optimistic publicly but anticipate the horrors of failure.
LOOK CLOSELY BEFORE CHANGING CAREERS:
Know all about what you are getting yourself into. You need to equivocate in politics which is the significant problem with transferring from business to politics. This is why Trump decided not to run for the Reform Party in 2004. You need to be blunt in business.
Donald Trump’s Rules for Public Speaking
GET OVER SPEAKING IN PUBLIC:
• Be prepared by reading.
• Have examples and references.
• Make anecdotes as vivid as possible.
• Don’t read a speech: it will be boring.
• You need to cover your bases mentally.
• Be a good story teller.
• Involve everyone. Tune people in.
• Story Telling is a skill.
• Learn to think on your feet be flexible.
• Be aware of the common denominator.
• Keep it all in perspective.
1. Think about your audience first
2. Get your audience involved.
3. Be prepared
4. Be a good story teller
5. Be aware of the common denominator.
6. Be an entertainer.
7. Be able to laugh at yourself
8. Think on your feet
10. Have a good time.
11. Study Regis Philbin
NEGATIVITY MUST BE AVOIDED:
Negativity is a form of fear. Don’t fear the problem. You need to start thinking positively or you will sabotage yourself. If you have received a lot of hard knocks. Don’t open the door to more knocks. Hard knocks are an insight into more trouble. Think about how more fortunate you already are. You can always better you best day. Engage in positive thinking and have a little blind faith.
Change your attitude and gain some altitude.
NEVER GIVE UP:
Children with handicaps seem to fight for everyday they have been given. When you’re down another day can be another chance. Keep going, keep on trucking. Feed yourself some positive thoughts. Certain people keep going because they stay positive. Lincoln had a lot of faith, he didn’t receive much encouragement. Some people are losers unfortunately, they’re attitude is so low that they are below sea-level.
“Imagination is more important than knowledge” Albert Einstein
READ CARL JUNG:.
People become persona’s that they forward in public. In private we are very different people, according to Jung…By not assuming an EGO, you will defeat you opponent…
HAVE AN EGO:
It is the centre of our consciousness. Get an EGO, Get a LIFE. No EGO means very little life force. Strive for wholeness. Knowledge is power. Your mind can build castles but make sure the foundation is in place first.
PART 3: Money, Money, Money
STAY WITH THE WINNERS:
Beware of instant stars in the world of finance. Trust the people who are successful consistently. Invest simply, don’t take unnecessary risks. Some people have extremely complicated explanations for market trends BUT Warren Buffet knows how to break it down simply. Invest with companies you understand.
GET A PRENUPTIAL AGREEMENT:
People have a right to protect their assets. Don’t let a women trick you into not signing a prenuptial. Ivana’s lawyers were extremely vicious but we signed a prenuptial agreement. There is nothing wrong with common sense.
DO IT YOURSELF:
You need to be direct with people and meet them directly. Lawyers will try to get rich by churning billable hours. Go right to the top and get something done. Whenever possible settle, it saves a lot of time.
MAKE SURE YOU UNDERSTAND THE VALUE OF MONEY:
Money is extremely serious. The sooner you understand the value of money, the better. Don’t be careless with money. Children learn from what they see. If you enjoy gambling, your kids will like gambling too. Don’t have goof-off kids. You cannot enter the financial world without understanding money.
PART 4: The Secrets of Negotiation
“If you have them by the balls, their hearts and minds will follow.”
It’s all about persuasion, not power. Just because you are successful doesn’t mean you have to act like a bulldozer. You don’t need to coerce people into following you. Power is not just about calling the shots. It’s about ability. No one will take notice if you call bad shots. Know what you’re doing: convincing others. Study the art of persuasion. Don’t expect people to believe your bullshit. Give people analogies, if you go to far over their heads they will be upset. Use humour and you will be successful. We all need to have a healthy dose of confidence. Don’t bulldoze. There is a fine line between acceptance and resignation. Don’t brow beat them into believing you. Let them think they are in control. He Who has the Gold Makes the Rules: let the others talk and observe your body language. Most negotiations should be calm. The best negotiators are chameleons. Learn the value of saying “NO”. Know what they want from you.
CONSIDER WHAT THE OTHER SIDE WANTS:
The Kinson group, that Trump was doing business with, had no idea about renovations in 1995. Kinson was failing at renovating 40 Wall Street. Trump wanted a restructure ground lease. The Kinson family wanted out fast and Trump knew it. 40 Wall Street was bought by Trump. If you want the truth, you should try to get direct contact with the decision makers. Trump made a deal where that the lease would need quality tenants + no fees during the renovations. In the mid-1990s, Trump was able to make a great deal from 40 Wall Street. Trump knew what the other side was thinking. Afterwards, the market started working in his favour in 1995. Trump won big.
BE REASONABLE & FLEXIBLE:
40 Wall Street had tenancy and a vacant building. Trump was asked to pay the broker 60 G per month as a retainer because the broker had no faith in Trumps abilities to make the property viable again. The broker was inflexible and Trump fired him. A new broker came in and made millions.
TRUST YOUR INSTINCTS:
The depressed market for office tenants made it suggestable to rent out to a residential conversion of 40 Wall Street. Trump believed it would be a private office building location. They decided to have the building turned into 3 sectors. They turned the top 700,000 Square feet into boutiques who wanted a high view. The middle 300,000 would be office buildings. Today, the building is worth hundreds of times it’s value in 1994.
KNOW EXACTLY WHAT YOU WANT & KEEP IT TO YOURSELF:
Be careful about what you reveal, you will know about the contours of the deal. Trump had crucial information during negotiations. He led the people he was dealing with to believe that he was only interested in the air-rights for a Trump Tower when he wanted to buy the lease. He gained leverage by controlling knowledge and expectations.
WHAT WE THINK WE WANT MIGHT NOT BE CORRECT:
You might learn that what you wanted was not really what you wanted. Trump assimilates new information quickly as negotiations proceed. Trump loves negotiating. There is a duality with negotiation. Before you begin negotiating, write down your objectives and their objectives. Know what you want and reveal it at the appropriate time.
Know when to be patient. One good way to make the deal accelerate is by not looking to eager for a deal. Trump would delay a deal until his opponents were getting itchy enough to settle for a lower bid. These folks waited the time to give Trump what he wanted to get. Distract the other side. In gambling, if you have no bankroll, then others will target you for obviously having much more to lose in a deal. Trump was having trouble with an impatient opponent so he threw out his false concern about the building’s history, thus delaying negotiations so that he could get his bearings.
BE STRATEGICALLY DRAMATIC:
Kofi Annan tried to stop Trump’s construction near the UN. Trump didn’t say anything critical about the UN. Trump knew that some ambassadors might want to live in Trump’s building. NY City Lawyers tried to tax the hell out of Trump’s project. Trump sued the City of New York. Trump reached a deal where he would take 17%. Trump had to support Bronx’s housing.
SOMETIMES YOU STILL HAVE TO SCREW THEM:
Go after someone who has attacked you as viciously as possible. Live by your principles. Like it says in the Bible, an eye for an eye.
It’s a jungle out there. We are worse than lion’s. Getting retribution and paranoia can be a waste of time, however. If you can dismiss a negative you should do so. Save time and focus on bettering yourself and your family. But again, sometimes you have to screw people back.
Some people deserve to be screwed back:
For example, Trump gave money to two restaurant entrepreneurs. A year later, the owners hadn’t given him a single dollar even if these owners were making a great deal of money. Trump felt that these people had screwed him out of money for his investment. Suing them would have cost a lot of time and wasted effort given how much he gave those dudes. They knew they could get away with it. But now, Trump won’t even recognize these entrepreneurs in public.
Also, Mario Cuomo was given a lot of funding from Trump during his run as governor. Then, after Cuomo was removed from office (for hiking real estate taxes) Trump wanted some help with a simple above-board request from Cuomo. Cuomo said “NO”. Trump screamed at Cuomo for being disloyal for a proper simple request.
In addition, Pete Dockings had a charmed life. Rhodes Scholar etc. Dockings wanted a Vietnam monument in New York. Trump provided over a million dollars. Trump used the best unions he could find to help build the monument. Trump did a lot of work to make the project a success. BUT Dockings took all the credit for the creation. Later, Trump wanted some help but Dockings didn’t want to help Trump for some unknown reason.
Sometimes you have to hold a grudge.
LEARN THE POWER OF SAYING “NO”:
Trump disagreed with CBS’s partnership with The Miss Universe Pagent. Trump bought the CBS out of the project. Trump had to say “NO” to CBS’s tactics which were not working. Trump took control and made sure they got back to focusing on beautiful women. Trump made a new partnership with NBC. The ratings were higher than ever and Trump created a great opportunity elsewhere with NBC.
DON’T KNOCK EVERYONE:
If you attack everyone, you will lose a lot of friends. Don’t attack everyone; that is foolish. You can knock some people but never everyone.