The Art of the Deal by Donald J Trump
Chapter 1: Dealing - A Week in the Life
I don’t do it for the money. I do it to do it.
If it can’t be fun, what’s the point?
If you’re right, you’ve got to take a stand, or people will walk all over you.
Sometimes — not often, but sometimes — less is more.
Listen to your gut no matter how good something sounds on paper.
You’re generally better off sticking with what you know.
Sometimes your best investments are the ones you don’t make.
Hire the best from the best.
Chapter 2: Trump Cards - The Elements of the Deal
If you’re going to be thinking anyway, you might as well think big
If you plan for the worst — if you can live with the worst — the good will always take care of itself
The worst thing you can possibly do in a deal is seem desperate to make it
Don’t make deals without leverage
The key to success in real estate isn’t location, it’s getting a good deal
If you are different, outrageous, or do things that are bold or controversial, the press is going to write about you
People want to believe that something is the biggest and the greatest and the most spectacular
Chapter 3: Growing Up
“The most important thing in life is to love what you’re doing, because that’s the only way you’ll ever be really good at it.” — Fred Trump
Chapter 4: The Cincinnati Kid - Prudence Pays
It’s not how many hours you put in, it’s what you get done while you’re working
It never pays to be in too much of a hurry
Chapter 5: The Move to Manhattan
Politicians don’t care of things cost. It’s not their money
In the face of a sales drop, most companies cut back on their advertising budgets. But in fact, you need advertising the most when people aren’t buying
Chapter 6: Grand Hotel - Reviving 42nd Street
If you’re going to make a deal of any significance, you have to go to the top
Chapter 7: Trump Tower - The Tiffany Location
Sometimes making a deal comes down to timing
Good publicity is preferable to bad, but from a bottom line perspective, bad publicity is sometimes better than no publicity at all. Controversy sells
Chapter 8: Gaming - The Building on the Boardwalk
Hire the best people from your competitors, pay them more than they were earning, and give them bonuses and incentives based on their performance
Chapter 9: Wynn Fall - The Battle for Hilton
There are times when you have to be aggressive, but there are also times when your best strategy is to lie back
Chapter 10: Low Rent, High Stakes - The Showdown on Central Park South
You don’t act on impulse unless you’ve considered the downside
Chapter 11: Long Shot - The Spring and Fall of the USFL
In any partnership, you’re only as strong as your weakest link
Chapter 13: Comeback - A West Side Story
The more awareness and excitement I could create early on, the easier it was going to be to attract buyers down the line
Free advice is worth what you pay for it
Keeping your options open is the only way to protect yourself
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