Trump: The Art of the Deal

by Donald J. Trump with Tony Schwartz

Read:  2017-07-10, Rating:  6/10.

My Notes:

  1. Listen to your gut, no matter how somethings sounds on paper
  2. You’re generally better off sticking with what you know
  3. Sometimes your best investments are the ones you don’t make

Trump Cards: The Elements of the Deal

  1. Think Big
  2. Protect the downside and the upside will take care of itself
  3. Maximize your options
  4. Know your market
  5. Use your leverage
  6. Enhance your location
  7. Get the word out
  8. Fight back
  9. Deliver the goods
  10. Contain the costs
  11. Have fun

Much more often than you think, sheer persistence is the difference between success and failure

Good publicity is preferable to bad. But from a bottom line perspective, bad publicity is sometimes better than no publicity at all. Controversy, in short, sells. So, it turns out, does glamour.

If there is one thing I’ve learned about the rich: it’s that they have a very low threshold for even the mildest discomfort.

You don’t act on an impulse, even a charitable one, unless you’ve considered the downside.

To me, committees are what insecure people create to put off making hard decisions.

I like consultants less than I like committees. When it comes to making a smart decision, the most distinguished planning committee working with the highest price consultants doesn’t hold a handle to a group of guys with a reasonable amount of common sense and their own money on the line.

My attitude is that you can’t get hurt asking.

If there is one thing I have learned from dealing with politicians over the years, it’s that the only thing guaranteed to force them into action is the press, or specifically, the fear of the press.

Leadership is perhaps the key to getting any job done.

There were those who said i went a little overboard holding press conferences about Wollman rink. Perhaps their right. But I can only say that the press couldn’t get enough of the story.

I know from my own experience that the only way to get even the best contractor to finish a job on time and on budget is to lean on him very very hard. You can get any job done through sheer force of will and by knowing what you’re talking about.

No one argues back because virtually no one in the city government knows anything about construction. Worst of all, no one in the city bureaucracy is held accountable for failure.

One of the first things that anyone should learn about real estate, and New York real estate in particular, is never to sign a letter of intent. Years can be spent in court trying to get out of a seemingly simple and non-binding agreement.

Dishonesty is intolerable but inaction and incompetence can be every bit as bad.

I said at the start, that I do it to do it, but in the end, you’re measured not by how much you undertake, but what you’ve finally accomplished.

What’s next?

Fortunately, I don’t know the answer, because if I did, that would take half the fun out of it. This much I do know: it won’t be more of the same.

I’ve spent the first twenty years of my working life building, accumulating, and accomplishing things that many said could not be done. The biggest challenge I see over the next twenty years is to figure out some creative ways to give back some of what I’ve gotten.

In my life, there are two things I’ve found I’m very good at: overcoming obstacles and motivating good people to do their best work. One of the challenges ahead is how to use those skills as successfully in the service of others as I’ve done, up to now, on my own behalf.

Don’t get me wrong. I also plan to keep making deals, big deals, and right around the clock.