The Art of Deal by Donald Trump, the current President of the United States of America, is not a how-to book. It is instead a written account of a tiny peak that you may get into the big business deals that Donald Trump made possible to build his empire. This book teaches us massively about successful business strategies, sales, publicity, and the tact of negotiating without losing. His expansion of business is a lesson for many to learn from, and his book helps to do precisely that. He has moved from a Hotel Developer to President, and that is one long ladder of hierarchy to climb for anyone.
His career trajectory is an example of how we can learn from his business dealings and triumphs. We will present to you the 4 Key Takeaways that you can learn from The Art of Deal to improve your business development and expansion strategies.
Trust Your Intuitions After You Talk to People
Your intuition is your biggest savior at the end of the day. Human beings are made in a way that they can instinctively pick up on the vibe from the other person. Many a times, this vibe allows them to decide whether or not the person is reliable and trustworthy.
Donald Trump believes that primary research, conducted by talking to locals and other stakeholders involved, is a much effective strategy. Talking to people involved in the business dealings helps him build insight into the deal. This knowledge is not something that is available by outside consultants or surveys but is direct and raw.
He further argues that one of the most key lessons that he learned during his academic years was that everyone with impeccable academic credentials wasn’t someone we should be easily impressed by. The book further points out that trusting your intuition is almost always right as long as you are not venturing into something you are entirely clueless about - learning he had after his friend’s company getting bankrupt.
Takeaway: Trust your intuition and your gut feeling!
Think Big - And You Will Be More Successful
It all starts from a big dream! Then, the next steps involved are all about making that big dream become a reality. Every decision that you make after that - personal or financial has to be in the direction of longevity and success of the dream you started out your business with. Remember, if you don't have a vision to work towards, you probably wouldn't be able to survive for long.
Donald Trump is an ardent believer of the fact that the bigger you think, the more successful you will be - and that doesn’t necessarily mean that you will be putting in more effort, but instead you will be just doing different kinds of work. He says in his book, “It’s not how many hours you put in; it’s what you get done while you’re working.”
Trump discusses that even though the scale of a business may be daunting for people, it does not make much difference in terms of how many people are operating under you. Thus Trump always used his energy into the more significant and more rewarding projects and having the employees do the other smaller, profit-making work for him.
He further says that he makes sure that he shows people that he thinks big of them to get them more excited. It also helps to market the project better and can get you huge revenues from sales. Wanting to be the best is what makes one the best, and Trump argues that it is always the best and highest that stays with people and not the second best.
Takeaway: Think Big whenever possible and aspire to be number one in your category of Business.
Get People To Pay Attention To You
To be in the public eye always, you need to feed them with content that is worth keeping an eye on. You need to present yourself and conduct your business in a manner that not only gets you attention but also attract people and investors towards you. Of course, it has to be all positively conducted.
Trump knows and uses the fact that the press is always looking for a story that can get the public to tune in to their channels. He also knows that grabbing attention requires doing things differently, even if it is slightly bold or controversial.
Donald Trump has always been notoriously famous for being outspoken and having the art of surprising people - even when it may hurt his image. He went ahead and destroyed a piece of art to save his workers time and his resources while building the Trump Tower in New York, attracting massive negative publicity.
Takeaway: Take a stand on important public issues, people may agree or disagree with you, but you will get attention, which will increase your turn over.
Make People Believe You Possess What They Are After
Business Deals involve a significant amount of tact and negotiation skills that can create leverage for you. Trump explains leverage as having something that the other person wants and making them believe they have the upper hand.
One such incident that indicates his vision is how he made Holiday Inn Executives, who he wanted as partners on the project, visit his Casino Site and selling them the idea that his work was well underway. When in reality, it had just started its construction process. The trick worked, and the deal was signed, and they believed something that they wanted to find given they wanted a deal, which was as developed as the one they saw.
Takeaway: You must act strategically and find out what is it that your potential business partner and current rival is after and make them believe that you are the only one who can offer it to them.
Hate Him or Love Him - But You Can’t Ignore His Success!
There is a very divided opinion about Donald Trump in public given his Presidential Run and even involving his ways of creating the Business Empire that he has made for himself. However, all his strategies have worked well in his favor to date. Some key personality traits that we can pick out fro you to develop to excel in your business is to be a sporty and fierce competition, aspire to and be the winner, negotiating premium products to people with higher net worth by playing into their psychology, and be bold enough to surprise people whenever it works to your advantage.
Lastly, play the game like it is supposed to be played - don’t play half-halfheartedly. As Donald Trump says in his book, “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.”