Way back in 1987, Donald Trump wrote a book that was part autobiography and part extended essay on how to become a winning negotiator and business dealmaker. The Art of the Deal became a #1 bestseller, and it--and his phenomenal business deals and reality TV shows (The Apprentice, Celebrity Apprentice, Miss Universe, etc.)--put Trump in the international spotlight in a big way. Now, of course, he's running for President of the United States of America, and many think he's got the perseverance, the smarts, and the moxie to go all the way.
But before all that, there was just Donald Trump and the 11 winning negotiating tactics that are at the heart of The Art of the Deal. Each of Trump's tactics is listed below, accompanied by quotes from the book. Give them a try and see how they can turn your deals into winners, too.
1. Think big
"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."
2. Protect the downside and the upside will take care of itself
"I always go into the deal anticipating the worst. If you plan for the worst--if you can live with the worst--the good will always take care of itself."
3. Maximize the options
"I never get too attached to one deal or one approach...I keep a lot of balls in the air, because most deals fall out, no matter how promising they seem at first."
4. Know your market
"I like to think that I have that instinct. That's why 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."
5. Use your leverage
"The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you're dead."
6. Enhance your location
"Perhaps the most misunderstood concept in all of real estate is that the key to success is location, location, location...First of all, you don't necessarily need the best location. What you need is the best deal."
7. Get the word out
"One thing I've learned about the press is that they're always hungry for a good story, and the more sensational the better...The point is that if you are a little different, a little outrageous, or if you do things that are bold or controversial, the press is going to write about you."
8. Fight back
"In most cases I'm very easy to get along with. I'm very good to people who are good to me. But when people treat me badly or unfairly or try to take advantage of me, my general attitude, all my life, has been to fight back very hard."
9. Deliver the goods
"You can't con people, at least not for long. You can create excitement, you can do wonderful promotion and get all kinds of press, and you can throw in a little hyperbole. But if you don't deliver the goods, people will eventually catch on."
10. Contain the costs
"I believe in spending what you have to. But I also believe in not spending more than you should."
11. Have fun
"Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game."