The art of the deal by Donald J Trump The best-selling book the art of the deal written by a person who has great experience as an entrepreneur is an Autobiography and a guide for business as well It's not only about real estate and construction but a really interesting read about how to make successful business deals Don't forget to subscribe to our channel and click on the bell below to make sure you learn every time we have a new video out Trump starts the book with a diary of his typical business week, which presents to us his work style He claims you can't be imaginative or an entrepreneur if you have too much structure He prefers to come to work each day and just see what develops in chapter 2 he shares his rules in business the elements of the deal defining his style as simple and straightforward I aim very high and then I just keep pushing Pushing and pushing and pushing to get what I'm after According to Trump there are 11 elements of the deal and they are one think big One of the keys to thinking big is total focus. You can think of it almost as a controlled neurosis, which is a quality Many highly successful entrepreneurs are obsessive driven Single-minded and sometimes almost maniacal, but it's all channel into their work number two protect the downside and the upside will take care of itself you should be very conservative in business and go into the deal anticipating the worst number three maximize your options you should protect yourself by being flexible keeping a lot of balls in the air because most deals fall out no matter how promising they seem at first number four know your market you should do your own surveys and draw your own conclusions I'm a great believer in asking everyone for an opinion before I make a decision I ask and ask and ask until I begin to get a gut feeling about something and that's when I make decision Number five use your leverage Leverage is something the other guy wants you have to convince the other guy. It's in his interest to make the deal Number six enhance your location You don't necessarily need the best location what you need is the best deal You can enhance a location through promotion and through psychology what you should never do is pay too much Number seven get the word out You need to generate interest and you need to create excitement the benefits of being written about have far outweighed the drawbacks Number eight fight back You should fight back very hard when people treat you badly or unfairly or try to take advantage of you number nine deliver the goods creating excitement doing wonderful promotion getting all kinds of press throwing a little hyperbole is not enough you should also have a great product to promote Number 10 contain the costs You should be cost conscious.
You should spend what you have to but not spend more than you should Every penny counts because before too long your pennies turned into dollars number 11 have fun you shouldn't work only for success and money the real excitement is playing the game then in next chapters Trump continues persuading the reader how these rules work with examples from his business the real stories make the book so vivid and enjoyable to read Memorable quotes from the book The final key to the way I promote is bravado. I play to people's fantasies. People may not always think big themselves, but they can still get very excited by those who do.
That's why a little hyperbole never hurts. People want to believe that something is the biggest and the greatest and the most spectacular. In the end we won by wearing everyone else down we never gave up and the opposition slowly began to melt away The book is a must not only for entrepreneurs and businessmen But for everyone who wants to develop their social skills because daily life is full of deals Tell us in the comments, what's your favorite book? Facebook, read and grow. Twitter, twitter.com slash...