Trump: The Art of the Deal Summary
6 min read ⌚
Donald Trump has always been both criticized and praised for his controversial approach.
His methods are hardly ever conventional, which indicates that he’s a person whose actions cannot be anticipated.
In the book summary below, we summarize the key elements in making a good deal.
Who Should Read “Trump: The Art of the Deal”? And Why?
Trump – The Real Estate Godfather, has really made a name for himself. To what does he owe his success? Unlike other people in business, Trump rarely takes “NO” for an answer.
“Trump: The Art of the Deal” is an excellent business guidebook, that is suitable for all business people in all spheres of influence. Entrepreneurs and economy students will find it particularly informative and mind-blowing.
About Donald J. Trump
Donald J. Trump had been given the honors to serve a four-year mandate as the 45th, U.S. president. In 1968, he started a business career, alongside his father. Since then, Donald Trump Organization has never stopped expanding.
He is the author of several books, including How to Get Rich.
“Trump: The Art of the Deal PDF Summary”
Briefly, here’s what you should take into consideration when making a deal:
“Think big” – Well, how it’s even possible to get a firm grip on success, without broadening your perspectives and destroying your limitations.
According to various keynote speakers and motivators, the key to success is illustrated through the ability to fixate your attention on the most critical tasks during the day. That’s how Donald Trump managed to stay on top for so long.
“Beware of hidden dangers and protect the downside” – In the capitalist era, it’s unlikely that you can beat the market unless you have a plan B. In other words, Trump emphasizes flexibility and despises gambling, which can be construed as an aversion, or inability for controlling the outcome.
When you are close to reaching an agreement with a third-party, never rely on only one main scenario.
Having a backup strategy in your pocket at all times can increasingly improve your chances of becoming a winner. As time goes by, and the bar is raised to a higher level, you wouldn’t want to be drained by the hostile environment.
“Choose your words and actions carefully” – Things didn’t go as planned? – So, what? – There’s always a better alternative just around the corner, and that’s precisely why Mr. Trump keeps many options on the table because the deal-making process is too complex.
It’s been said that tough negotiators are those who are aware of their bargain capabilities. In order for their plans to come to fruition, they stand their ground and don’t back away from their demands.
“Understand the core of the market” – It’s not about what you do, is how you do it. One thing is for sure; you cannot merely indicate that the market is overflooded with competition, and there’s no room for your ideas to kick in.
Trump doesn’t rely on consultant help and trusts his instinct but not to feed his vanity, but because it’s the right thing to do. Every baffling problem or enigma can be solved if you have that inner edge, to pull some maneuver and turn the situation to your advantage.
“Find common ground, but not at the expense of your capital” – If you show signs of desperation when bargaining a better deal, or if you try to speed up the proceedings, the counterpart may use that against you. Put the accent on something; the other party can’t simply do without.
Play wisely, because after all, it’s just a game.
“Make yourself visible” – People in a hurry, tend to make bad decisions. And in order to be seen, that are inclined to agree with almost any foolish deal.
Lay down your foundation on a location that serves a dual-purpose. After you make up your mind, spend a few extra dollars, to make that location look a bit trendier and classy.
Such action fueled by integrity will aid you in your endeavors to gain respect from the business community and strengthen your ties with other investors and businessmen.
“Promote your business” – Throughout the course of history, great conspirators were always on thin ice which could have collapsed at any moment. Their boldness as a way of handling things, grant them all-deserving praises and rewards.
When it comes to business, you might want to use the same strategy, and thus the press will safeguard your interests. Evidently, there’s no such thing as bad publicity, and being in the spotlight is all that matter.
“Never back down” – Don’t be a pushover, because in life you’ll encounter various personalities who will try to bring you to your knees. When the word is spread out, that you crack under pressure, the competition will destroy you in a flash.
Leverage: don’t make deals without it. Enhance
“Deliver superior quality” – If your products, services, or opinions don’t stand out, your project can never reach its peak. The most frightening thing in today’s market is that everyone is replaceable, and loyalty is long gone.
If you want to remain on the top, you have to deliver a product/service of unparalleled quality.
“Reduce the costs” – No, you thought wrong, Donald Trump is not a spender, he is an investor. He advises that you should cut down some expenses that aren’t yielding any positive results.
If you purchase commodities that you don’t need, you’ll eventually end up selling the things you are in desperate need of.
“Rejoice in life” – Money is just the name of the game, so don’t take it too seriously, have fun!
The most important thing in life is to love what you’re doing because that’s the only way you’ll ever be really good at it.
Key Lessons from “Trump: The Art of the Deal”
1. The power of persuasion
2. Take precautions, and don’t deviate from your plans
3. Prepare yourself for what is to follow
The power of persuasion
If you don’t have what it takes to influence other people, perhaps the least you can do is not allowing other to do that to you.
Believe in your methods and gauge the competitive level.
Take precautions, and don’t deviate from your plans
Although staying flexible is key to success, sometimes it’s best if you don’t allow a single doubt to enter your mind.
Following your instinct can make a world of difference to you, and your project.
Prepare yourself for what is to follow
If you thought that this ride is going to be smooth, you are far away from reality.
Such attitude can backfire on you because you’ll not have all bases covered when things take an unexpected turn. The wind blows where it wishes, and you don’t have the power to stop it.
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“Trump: The Art of the Deal Quotes”
I've read hundreds of books about China over the decades. I know the Chinese. I've made a lot of money with the Chinese. I understand the Chinese mind. Click To Tweet I’ve always felt that a lot of modern art is a con and that the most successful painters are often better salesmen and promoters than they are artists. Click To Tweet I discovered, for the first time but not the last, that politicians don’t care too much what things cost. It’s not their money. Click To Tweet My people keep telling me I shouldn’t write letters like this to critics. The way I see it, critics get to say what they want to about my work, so why shouldn’t I be able to say what I want to about theirs? Click To Tweet I don’t hire a lot of number-crunchers, and I don’t trust fancy marketing surveys. I do my own surveys and draw my own conclusions. Click To Tweet
Our Critical Review
Trump clearly knew what he was doing, and it’s in our interest to follow his example. If you are afraid of a little controversy and challenge, the business world is not for you.
Thriving on problems is the perfect mentality one can embrace. So, don’t hesitate to jump on the bandwagon and start your adventure.
Emir is the Head of Marketing at 12min. In his spare time, he loves to meditate and play soccer.
