Real Donald Trump Wisdom

"In the end, of course, it never pays to be in too much of a hurry." - Donald J. Trump

"Perhaps the most important thing I learned at Wharton was not to be overly impressed by academic credentials. It didn't take me long to realize that there was nothing particularly awesome or exceptional about my classmates, and I could compete with them just fine." - Donald J. Trump Fred Trump: #Competence #Efficiency Mary Trump: #Splendor #Magnificence

"Life is very fragile, and success doesn’t change that. If anything, success makes it more fragile. Anything can change, without warning, and that’s why I try not to take any of what’s happened too seriously. Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game." - Donald J. Trump

"I believe in spending what you have to. But I also believe in not spending more than you should. [...] the day I can’t pick up the telephone and make a twenty-five-cent call to save $10,000 is the day I’m going to close up shop." - Donald J. Trump

"But that experience also taught me something. Until then, I’d never understood how Jimmy Carter became president. The answer is that as poorly qualified as he was for the job, Jimmy Carter had the nerve, the guts, the balls, to ask for something extraordinary. That ability above all helped him get elected president. But then, of course, the American people caught on pretty quickly that Carter cou...

"Much as it pays to emphasize the positive, there are times when the only choice is confrontation." - Donald J. Trump

"You can have the most wonderful product in the world, but if people don't know about it, it's not going to be worth much. [...} You need to generate interest, and you need to create excitement." - Donald J. Trump

"My point is that the real money isn't made in real estate by spending the top dollar to buy the best location. You can get killed doing that, just as you can get killed buying a bad location, even for a low price. What you should never do is pay too much, even if that means walking away from a very good site. Which is all a more sophisticated way of looking at location." - Donald J. Trump

"A Deal is a Deal: once you make a deal with someone, it's really important to carry it through. If you start developing the wrong reputation, it makes it impossible to make future deals. Once you shake hands, that should be it." - Donald J. Trump In this episode, we explore the ethical dilemmas faced by participants in The Apprentice, focusing on the importance of reliability, reputation, and eth...

"Leverage: don't make deals without it." - Donald J. Trump

"I ask and I ask and I ask, until I begin to get a gut feeling about something. And that's when I make a decision." - Donald J. Trump

Maximize Your Options: "Once I've made a deal, I always come up with at least a half dozen approaches to making it work, because anything can happen, even to the best laid plans." - Donald J. Trump

Apprentice Lesson #3: "The Art of the Deal: Negotiation is a very, very delicate art. Sometimes you have to be tough. Sometimes you have to be sweet as pie. You never know, it depends on who you're dealing with. I've always said that negotiation is not really learned, it's almost innate, it's in the genes. A negotiator is born." - Donald J. Trump

Protect the Downside and the Upside Will Take Care of Itself

"might as well think big" "one of keys to thinking big is total focus"

key elements: Intelligence, Instincts, Courage, and Good Fortune

Don't negotiate with underlings "it's very simple, deal with the boss wherever possible" - Donald J. Trump episode lessons: speak with the boss directly think outside the box sound marketing and communications strategies are important toolkits in any endeavor set your sights high; visualize success reward loyalty; read another way, do not let down people who are loyal to you! "The men's team, Vers...

approach to media: criticism can go both ways approach to getting what he wants in negotiations: reads the room, understands other party’s drive and motivations, proposes a relatively good deal, is willing to walk away, balances patience with persistence; comes back to it with different offers as market conditions evolve approach to costs: lavish for personal space, very careful and cost-conscious...

Location, location, location! A few lessons: location is key, but having the right partners is even more important be courteous towards your superiors 'you have to act, not just listen' do not disqualify yourself celebrate, but don't let it get to your head, get ready to be back in the 'competition' quickly "The inaugural episode of the series has virtually all the same components that propelled i...

Lessons learned: - create compelling spectacles / know how to entertain - when attempting to secure a deal, first highlight the points that the other party will like - being comfortable talking is a skill that helps in sales - Trump prefers earth tones to primary colors (for building decorations) - nailing costs is the name of the game in real estate development - speak directly to the owner/manag...

Lessons learned: - side with winners - tune in to your instincts - be adaptable to your environment - ' hire the best from the best ' - understand what appeals to people - leverage media to your advantage: ' getting press can be very helpful in making deals ' - be pragmatic - be patient - show respect to religious leaders - traits that @realDonaldTrump admires: warmth and great political instincts

lessons condensed: - when the request is in a good-faith and reasonable, be accommodating - it's a loop; do business with people you appreciate, tell people you appreciate them - provide value - know your worth & have a “many options” attitude - have a long time horizon - don't get too excited by the first offer - think of small tasks you can do today that will save time, money, efforts, or en...

Lessons learned:: - don't let personal preferences affect your business judgment - never waste (yours or someone else's) time, go straight to the point; keep things brief - think of second order consequences and incentives - cultivate the courage to speak up your convictions even when it may be unpopular - protect your time - "keep as many options open" as you can - think "Right Price" and "Cash F...

lessons learned: - @realDonaldTrump was respected by top Wall Street CEOs already in the 1980s - be a good judge of character & potential; bet on winners and good people - be generous with your gifts; skillset, network - be tough when necessary: "the fact is that if you’re right, you’ve got to take a stand, or people will walk all over you." - "I don’t hold it against people that they have opp...

Lessons: - keep your schedule flexible - keep your meetings short & to the point - strive for a high a level of input & output - "plan for the future by focusing on the present"