The Art of the Deal By Donald Trump
No matter how we feel about him, we all know that Donald Trump is a business mastermind.
He has paved success for many businesses throughout his years as an entrepreneur.
So, obviously, there is something to learn from his strategy!
In, “The Art of the Deal” Trump shares his insight on how to drive a business to success. It gives the reader a sneak peek at his everyday life in the office and shares how he makes million dollar deals.
“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.”- Donald Trump
Trump shares his losses as well as his wins. These lessons of building and developing are invaluable lessons to the reader.
If you want to make millions, you best get reading!
Making Your Own Mark
Donald was lucky enough to have a father that was a business tyrant. It allowed him to pick up the trade early. However, he wanted to make his own mark on the world.
Trump has always been obsessed with bigger and better when it comes to his career. This is obvious in everything he does from his buildings and architecture to his multi-million dollar companies.
“I like thinking big. I always have. To me it’s very simple: if you’re going to be thinking anyway, you might as well think big. Most people think small, because most people are afraid of success, afraid of making decisions, afraid of winning. And that gives people like me a great advantage”- Donald Trump
The lesson we get from Trump here is to always keep beating yourself. Think of yourself as competition and with each new project, go bigger and better.
Networking is Key
In order to have a successful business, you must properly network. That means talking to people in all fields from consumers to salespeople to advisors to marketing gurus.
Trump follows his gut when it comes to the people he works with. And, that’s something we should all do. If someone gives you a good feeling, chances are they can be beneficial in some way to your company. However, if someone doesn’t rub you the right way, you probably don’t want to sign any contracts.
It’s important to help people, which builds trust. Returning favors to others is one of the best ways to start a solid relationship.
Sometimes, it’s not about the product, but more about selling yourself. You must be personable by actively engaging with the consumer, asking questions, and actively listening in order for your company to succeed. The act of selling yourself will work to sell your product. If you are likeable, people will want to work with you.
A unique personal brand is important to help you standout. Like, Trump, Madonna has one name because she has successfully branded herself. Come on, who wouldn’t want a partnership with Madonna?
A tricky scheme Trump pulled was telling people he owned the Trump Organization before it was even a thing! That was a successful tactic in putting his name in people’s heads before he was even making a real impact.
Make What You Have Seem Better
When making a deal, it’s a smart tactic to convince the other person that what they are currently doing or what they currently have as a project or product isn’t that great.
This will allow you to swoop in and make their lives a million times better with your contract or product.
This may sound like a bit of manipulation, but if your company or product could truly enhance the person’s life, there is no reason to feel guilty about utilizing this tactic.
Again, you must have charisma and personality in order to make your sales and deals successful.
Put Down the Competition
There are two ways you could seal a deal. One, is to believe in your product and talk it up endlessly. Two, is to put down the competition, making yours seem like the obvious choice.
Trump believes by putting down the competition, you are most likely to make the deal. To successfully put down the competition you must allude to what they are doing wrong with their business by pointing out their flaws. Of course, you must also talk up your product in the process.
Business is a cruel world. And, there is no room for compliments and kindness. It’s a competition.
Clean is Key
Your company should be clean in order to give off an air of luxury. No one wants to do business in a messy place. The company should be tidy and organized. It’s all about appearance.
“The final key to the way I promote is bravado. I play to people's fantasies. People may not always think big themselves. but they can get very excited by those who do. That is why a little hyperbole never hurts. People want to believe that something is the biggest, the greatest and the most spectacular.”- Donald Trump
People want to fantasize when they are signing a contract and a clean environment helps to exhume luxury.
One of the best pieces of advice from Trump is “never take no for an answer”.
When you want to seal a deal, focus your mind on that particular goal. When someone says ‘no’, simply tailor your action plan to achieve your goal.
“MY STYLE of deal-making is quite simple and straightforward. I aim very high, and then I just keep pushing and pushing and pushing to get what I’m after.”- Donald Trump
People admire persistent actions and often times people will cave and give in to your determination.
Trump understands that controversy is a seller. Media coverage is one of the biggest forms of free advertisement. It grabs people’s attention. And, even though it may be negative sometimes, it is sure to tickle somebody right!
“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.”- Donald Trump
The more media coverage big businesses get, the more famous they become. That means they are destined to be successful because they are quickly associated in a consumer’s brain with specific products and services.
In order to be a leader in the business world you must attack the competition, network with the right people, and share your unique branding to make your name stick.