Donald J. Trump - Trump

Contents

To my parents, Mary and Fred Trump

Acknowledgments

I would like to thank all the contributors to this book for their time and expertise. I am very grateful for your enthusiasm for this project from the onset and know you will be pleased with the results.

My special thanks to Norma Foerderer, who has coordinated this venture, watched over the development, and has made it a pleasure all the way for everyone involved. Also, thanks to Bernard Diamond, General Counsel at The Trump Organization, for his invaluable assistance.

THE
WAY
TO THE
TOP

Introduction

DONALD J. TRUMP

You cant know it all. No matter how smart you are, no matter how comprehensive your education, no matter how wide-ranging your experience, theres simply no way to acquire all the wisdom you need to make your business thrive.

So I asked the brightest, most successful businessmen and women I knowand some I dont knowwhat was the best business advice they have ever received. I decided to pose the question to people who run both large and small companies. After all, its definitely not the big guys who have cornered the market in business smarts. Indeed, to run a small company in America takes as muchperhaps morework, intelligence, and perseverance than it takes to be a Fortune 500 CEO with more resources at his or her disposal.

I was both pleased and humbled by the depth and thoughtfulness of the responses I received. Barbara Berger, President of her family-run business Food City Markets, gave a seemingly dark warning as the best business advice she ever received: The sun doesnt shine forever. Anyone whos ever been in business needs to heed Barbaras words, because every business has its dark days, and you need to be prepared for that. Knowing that this is part of the life of every company is vital to overcoming the inevitable problems and disasters that businesses face and surviving to see the sun again.

From Jim Cantalupo, Chairman and CEO of the McDonalds Corporation, comes this: Strive to satisfy the customer. That essential pearl of wisdom, so obvious, but often forgotten, was given to Jim by Ray Kroc, McDonalds founder.

Terry J. Lundgren, President, CEO, and Director of Federated Department Stores, offers advice as basic as it is often ignored: Bloom where you are planted. As much as we would all like to begin our career in the executive suite, nobody starts out there. And the best waythe only wayto get to the top is to do the best that you can in what you are doing right now.

I could go on and on summarizing what the contributors to this book have written because its such fascinating and important business advice. But I want to add something else before I let the show begin: there is no substitute for experience. None. But experience comes in two different flavors: your own and the experience of others. Most people can learn from their own experiences quite well, but many people simply ignore the experiences and lessons of others. This is foolish. If you rely entirely on learning from your own mistakes, its inevitable that you will make too many, possibly disastrous, mistakes. Pay attention, people! Learn from those around you. Theres no excuse for making the same mistakes that others have made. If you do, its your own fault and you should expect no sympathy, no compassion.

The other side of this coin, however, is that you can benefit from others wisdom. Its not just the mistakes that people in business have made that are valuable, its the good decisions, the inspiration, the insights and revelations that people in business have to offer. Watch, listen, and learn. You cant know it all yourselfanyone who thinks that they do is destined for mediocrity.

Let me offer my sincere thanks to everyone who took the time to contribute to The Way to the Top. In this book youll find all sorts of wisdom. Learning from the mistakes others have made will help keep you out of trouble; the good lessonsthe best business advicewill propel you toward great success.

George ABERCROMBIE

President and CEO of Roche North American Pharmaceuticals Operations

Ive been very fortunate to have worked with prescription drug products for my entire career, products that make a real difference in the lives of hundreds of millions of mothers, fathers, grandparents, children, and friends around the world. In my mind, there arent many other businesspeople that can make such a claim.

After working as a pharmacist in North Carolina, I began my career in the pharmaceuticals industry as a sales representative. As I started out calling on physicians and other health care providers, discussing the efficacy and safety of our products, I was given a simple yet powerful piece of advice that has guided my thinking about this business ever since: sell the medicines as if theywould be used by my family, my friends, or myself. This meant explaining the drugs side effects in as much detail as its benefits, resisting the urge to sugarcoat the drugs value in order to drum up sales. I would give health care providers all the information they would need to make the best choices for their patients. To this day, the humanity of each patient guides me in my work.

Put yourself in the customers shoes

Adam M. ARON

Chairman and CEO of Vail Resorts, Inc.

As much as possible, deal only with good and honorable people. If you deal with good people, you wont need a contract, and if you are dealing with bad people, no contract can protect you.

Dont worry about contracts

Gerard J. ARPEY

President and CEO of American Airlines

Right after I had been named Chief Financial Officer of AMR Corporation, former AMR Chairman and CEO Al Casey gave me this guideline: Borrow money when you can, not when you need to. Without a doubt, it was the soundest piece of business advice ever given to me.

Be leery of loans

Diane N. BARK

President of DHB Financial Services, Inc.

Ive really had to learn everything by doing it the hard way, without the benefit of any business advice. Sometimes I think thats what makes a person successful. Making mistakes gives one a great opportunity to grow and learn.

If there is any advice that I wish I had gotten, it would have been this: be passionate about your work because it will make your life so much more enjoyable in the long run. Dont do anything just because it will make you a lot of money. Most of all, listen to your heart and your mind and they will guide you in the right direction.

Follow your heart

Thomas J. BARRACK, Jr.

Founder, Chairman, and CEO of Colony Capital, LLC

Dont confuse efforts with results.

Only results count

Napoleon BARRAGAN

Chairman and CEO of 1-800-MATTRESS

I have been a merchant selling mattresses for more than twenty years. I pursued the best brands, the best quality, the best value, and the most innovative constructions to ensure I offered my customers the best. My pursuit of this information resulted in long and arduous reviews of the marketing materials that are carefully developed by each manufacturer.

Several years ago I had the good fortune to hire a vice president of merchandising who had a wonderful rsum in the mattress business. Shortly after settling in, he said, Lets open them up and see firsthand whats inside the mattresses we sell. We opened our offerings, and our competitors offerings, and we discovered that packaging and marketing materials cannot be the only source of information.