. Instaread - The Art of the Deal: by Donald Trump

Guide to

Donald Trumps

The Art of the Deal

by

Instaread

Please Note

This is a companion to the original book.

Copyright 2016 by Instaread. All rights reserved worldwide. No part of this publication may be reproduced or transmitted in any form without the prior written consent of the publisher.

Limit of Liability/Disclaimer of Warranty: The publisher and author make no representations or warranties with respect to the accuracy or completeness of these contents and disclaim all warranties such as warranties of fitness for a particular purpose. The author or publisher is not liable for any damages whatsoever. The fact that an individual or organization is referred to in this document as a citation or source of information does not imply that the author or publisher endorses the information that the individual or organization provided. This concise companion is unofficial and is not authorized, approved, licensed, or endorsed by the original books author or publisher.

Table of Contents

The Art of the Deal by Donald Trump offers business advice and strategy through the lens of Trumps business deals and development projects as head of the Trump Organization. There is no typical week or project in Trumps work. His days are filled with phone calls and impromptu meetings, but the variety of relationships and investments he details paint a picture of how Trump cuts deals and earns multiple millions.

Having begun learning the real estate business in Brooklyn and Queens under his father, Fred Trump, in the 1970s, Donald Trump set his sights on loftier projects in Manhattan. He began buying hotels and properties, renovating and rebuilding to create grand structures such as New Yorks Trump Tower (1983), as well as numerous other hotels and projects. As his reputation and credibility grew, he stretched his sights to Atlantic City, where he built Trump Plaza (1984), a casino-hotel complex. Trumps growing empire required management not only of contractors and his own employees, but also of business partners, rivals, politicians, and the ever-critical members of the media.

Through his various ventures, Trump details his mistakes and successes, sharing the thinking and strategic choices that have led him to become one of Americas most renowned business magnates. He offers lessons for readers not only on investment and development, but also business relationships and psychology more broadly.

The Art of the Deal was first published in 1987. Subsequent editions appeared in 1989 and 2004.

Donald Trump is the author of The Art of the Deal. Trump is an American investor and real estate magnate, and is chairman and president of the Trump Organization and founder of Trump Entertainment Resorts. He is a media celebrity, the author of several business books, and a candidate for the 2016 Republican nomination for president of the United States.

Barron Hilton is a business magnate and socialite who took over the Hilton Hotels Corporation from his father, Conrad Hilton. He held the position of president and chief executive officer until his retirement.

Ace Greenberg was chairman of the Executive Committee of the Bear Stearns Companies, Inc., a New York-based global investment bank and securities trading and brokerage firm.

Ed Koch is a lawyer and politician, who has served as a U.S. congressman and as mayor of New York City.

Ada Louise Huxtable was an architecture critic for the New York Times and a winner of the Pulitzer Prize for Criticism.

Maryanne Trump is Donald Trumps older sister and a senior judge of the US Court of Appeals for the Third Circuit.

Tony Schwartz is a businessman and journalist. He co-authored the book with Trump.

Fred Trump was Donald Trumps father. Fred Trump was a successful real estate developer in Brooklyn and Queens, and an important business mentor for his son.

Robert Trump is Donald Trumps brother. Robert Trump worked in the Trump Organization, overseeing his brothers casinos.

Ivana Trump is a Czech-American athlete and model who became Donald Trumps first wife. She assisted Trump in the management of numerous Trump enterprises until their divorce in 1992.

1. Trump learned the business from his father, but he also wanted to make his own mark and be more than Fred Trumps son.
2. In all business dealings, but especially in New York, networking and building relationships are crucial to success.
3. Making a deal isnt just about selling the worthiness of the deal, but also about selling yourself.
4. When making a deal, its smart to convince the seller that what they have isnt worth much.
5. Another strategy in making a deal is to put down the competition.
6. To project an image of luxury and class, maintain high levels of cleanliness and impeccable upkeep.
7. Relentless persistence is key to success in business.
8. Controversy sells. Even bad press can be good for businessand its cheaper than marketing.

Trump learned the business from his father, but he also wanted to make his own mark and be more than Fred Trumps son.

Analysis

Trump credits his father with showing him the ropes and teaching him important skills in leadership, hard work, and management. But he wasnt content merely to continue in his fathers footsteps.

What shines through all the chapters and all the various projects Trump discusses is his incredible, overarching ambition. He could easily have continued along the lines of his fathers modest development projects in Brooklyn and Queens, and would have made a good living doing so. But Trump is obsessed with always doing bigger, better, and more. This aspect of his character is what drove him to Manhattan instead. Its what drove him to buy hotels no one else would touch, to propose grandiose projects that the media criticized, and to always insist on the finest, most expensive, most luxurious materials and designs. Trumps ambition is evident in the mere appearance of his buildingsflashy, eye-catching, monstrously tall. In some ways his character is reminiscent of the conquerors and emperors of an earlier era. Trump is, indeed, a modern-day emperor of sorts, bent not only on outdoing othersincluding his own fatherbut also on constantly outdoing himself with each new project.

In all business dealings, but especially in New York, networking and building relationships are crucial to success.

Analysis

One of Trumps first moves after settling in Manhattan was to begin networking, building relationships with people who will later become business partners, advisors, and customers. Relationships are as integral to his success as strategy, and Trump places a high value on working with people of integrity.

Trump often passes judgment on the character of some figureminor or majorwho plays a role in his business dealings. He is attentive to the character of everyone from his assistant to reporters to politicians. He may respect a person for one reason, but have a bad feeling about him or her for another reason. Without saying so explicitly, he makes it clear that his success rises and falls on his ability to build relationships, meet other peoples needs, create trust, and return favors. When Trump likes someone, hes effusive in his praise and dedicated in his efforts to prove his loyalty and friendship. But when he perceives someone as unfair or dishonest, the deal is off and the relationship falls through. He understands, on the one hand, that these relationships are instrumental: for instance, contributing money is necessary to stay on the good side of certain politicians. On the other hand, he seems to derive genuine value and pleasure from the people with whom he makes deals. Relationships are not just a means to an end for Trump; they are, for him, part of the fun of working in the business of real-estate development.