Real Donald Trump Wisdom

"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. TrumpIn this episode, we explore the ethical dilemmas faced by participants in The Apprentice, focusing on the importance of reliability, reputation, and ethical boundaries in business. Trump emphasizes that one's word should be their bond and that maintaining goodwill is crucial for future opportunities. The discussion also highlights the strategic management of tasks.

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

Don't negotiate with underlings"it's very simple, deal with the boss wherever possible" - Donald J. Trumpepisode lessons:speak with the boss directlythink outside the boxsound marketing and communications strategies are important toolkits in any endeavorset your sights high; visualize successreward loyalty; read another way, do not let down people who are loyal to you!"The men's team, Versacorp, compete with the women's team, Protégé Corporation, on a more advanced business project this week. They are to produce a print ad, TV commercial, proposal and media plan for Marquis Jet, luxury business travel."

Location, location, location!A few lessons:location is key, but having the right partners is even more importantbe courteous towards your superiors'you have to act, not just listen'do not disqualify yourselfcelebrate, 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 it to 15 seasons. There are 16 candidates in a 13 week job interview with the promise the winner gets a "6 digit salary" in the Trump organization."

"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. TrumpFred Trump: #Competence #EfficiencyMary 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 couldn’t do the job, and he lost in a landslide when he ran for reelection.Ronald Reagan is another example. He is so smooth and so effective a performer that he completely won over the American people. Only now, nearly seven years later, are people beginning to question whether there’s anything beneath that smile." - Donald J. Trump

"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

"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

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

approach to media: criticism can go both waysapproach 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 evolveapproach to costs: lavish for personal space, very careful and cost-conscious in professional settings

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/manager if you want your case handled with more expediency and competence - always be willing to walk away - put pressure on mid-level staff by emphasizing the high expectations set with the owner/manager at project iniatiation - remind the other party why you are, and potentially will continue to be, a great partner for business - be determined and unfazed by (corporate) scare tactics - speak up your mind - cultivate great relationships for character references, with people you sincerely admire - be efficient; your family life demands will require you to level up in efficiency - set golf dates (or other outdoor informal entertainment) on weekends, with current & prospective business partners- have extremely high standards, for your career and your personal life - encourage people who work for you to keep up the good work, and directionally, to work harder - sometimes, with some people, less (talk) is more - again, don't give up on your extremely high standards and ambitions ("I tell the guy on the phone that I’m still interested in a plane, but that he should keep his eye out for a 727, which is what I really want.") - follow-up. - in general, be kind, courteous, and generous with your time [and that wraps it for a first week at @TrumpTower with @realDonaldTrump]

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