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Trump: The Art of the Deal summary
Donald J. Trump, Tony Schwartz
The Art of the Deal
17 mins
Brief summary
Trump offers a glimpse into Donald J. Trump's mindset and business philosophy. It shares anecdotes and insights from his career, emphasizing his approach to deal-making, risk-taking, and leadership in the competitive world of real estate.
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Trump: The Art of the Deal
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Key idea 1 of 6
Trump’s early business style and strategic flexibility
What was life like for Donald Trump throughout the 1970s and 1980s? During this period, his days often began early, around six in the morning, with a scan of the newspapers before heading into the office. Trump’s approach to work was far from traditional. He avoided rigid schedules and structured meetings, preferring a more spontaneous, flexible routine. For him, the real excitement came from making deals – not just for financial gain, but for the thrill of the process itself.
A good example of Trump’s business instincts in action is his intervention in the case of Annabel Hill, a widow in Georgia on the verge of losing her family farm after her husband’s tragic suicide. Hearing about her situation, Trump immediately contacted the bank, threatening legal action and accusing them of driving her husband to despair. The bank quickly backed down, and Trump raised $40,000 to cover her debts – even pledging to cover any remaining amount himself. His swift, no-nonsense approach resolved the issue and garnered media attention, showcasing his ability to turn challenging situations around with bold, decisive action.
Trump’s routine was filled with phone calls and impromptu meetings, and he often had 50 to 100 calls a day. His spontaneous style allowed him to handle multiple projects at once – whether it was overseeing construction at Trump Tower, managing the renovation of Central Park’s Wollman Rink, or making investments in Holiday Inns. By staying involved in the details of his various projects, Trump could react quickly to changes and seize new opportunities as they came.
When it came to business negotiations, Trump also emphasized flexibility. In his investment with Holiday Inn hotels, for example, he kept several options open – taking control of the company, selling shares for profit, or letting the company buy them back. By keeping his options fluid, Trump could maintain control and choose the outcome that best suited his goals.
Quick, decisive, adaptable – that was Trump’s early business playbook. His hands-on involvement and passion for the process were all part of his ability to recognize and capitalize on opportunities in real time.
Now let’s take a closer look at Trump’s philosophy when it comes to making deals.
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What is Trump: The Art of the Deal about?
Trump: The Art of the Deal (1987) looks at Donald Trump’s business strategies and personal experiences in real estate. It outlines his principles of negotiation, risk-taking, and public image-building, emphasizing the importance of persistence and adaptability. Through real-life examples, Trump provides a step-by-step guide to closing deals and achieving success.
Who should read Trump: The Art of the Deal?
- Aspiring entrepreneurs seeking business negotiation strategies
- Business professionals aiming to enhance their public image
- Anyone interested in Donald Trump’s career and philosophy
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