Summary of Trump: The Art of the Deal

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Trump: The Art of the Deal book summary
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Rating

8

Qualities

  • Innovative

Recommendation

This book is as smooth as its namesake author. Long before “You’re fired!” entered the popular lexicon, “The Donald” was piecing together deals that changed Manhattan’s skyline. The book includes a diary of Trump’s typical week. He flirts with a hostile takeover of Holiday Inn (which nets him tens of millions of dollars), has a friendly conversation with radio personality Don Imus, selects Christmas decorations for the Trump Tower atrium, chats with NBC executives, talks with Ivan Boesky just two weeks before Boesky pleads guilty to insider trading, meets with a top New York banker who begs him for his business, has a conversation with Missouri senator John Danforth and speaks with international designer Calvin Klein – all by Tuesday. If you conclude that Trump is a self-promoting, silver-spooned name-dropper, take your shirt off now and hand it to him – before he tears it off your back. Trump plays for keeps. Tony Schwarz has done his usual masterful job of co-authoring this book. (If nicely spun anecdotes could be used as collateral, Schwarz could be a real estate magnate himself.) Of course, some of the less rosy chapters in Trump’s career are downplayed, and his major bankruptcy problems (and bounce back) happened after this book’s initial publication. getAbstract strongly recommends it to anyone who wants an entertaining look at some of the actual reality show behind Donald Trump’s towering success.

About the Author

Donald J. Trump is the New York City real estate magnate, Atlantic City casino owner and international television celebrity perhaps currently best known for his role in the hit reality show, The Apprentice. Tony Schwartz is the author or co-author of several business books.

 

Summary

Deal Makers

You’re born a deal maker or you’re not. Even if you have ability, you may not have the luck or intestinal fortitude to discover what you’re really good at.

Here’s what you need to succeed:

  • “Think big” – Donald Trump wasn’t just out to earn a good living, he wanted to make a splash. The key to thinking big is to focus all of your mental energy on your business. It’s an almost neurotic trait of many successful people.
  • “Protect the downside and the upside will take care of itself” – Trump doesn’t like to gamble; casino owners are likelier to win than the guys playing the slots. When putting a deal together, always have a viable fallback position. Don’t leave yourself exposed if your original deal falls through. If Trump hadn’t gotten the zoning approvals for Trump Tower, he would have built a profitable office building instead.
  • “Maximize your options” – Don’t get so attached to one deal or idea that you aren’t willing to change tracks if a better alternative appears. Trump keeps a lot of balls in the air because he knows most deals don’t come to fruition. Keep your alternatives open and stay in the strongest bargaining position possible...

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    A. A. 2 years ago
    good to trust yourself and to focus on your goals of life.
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    I. G. 4 years ago
    Nice, simple approach. I like the quick value at the start of the abstract.