Josiah Mackenzie

The Art of the Deal by Donald Trump is an interesting look into the way he conducts business. Here are some of the ideas I took away from the book.

• Make a statement by your work
• The “Power of Negative Thinking” - plan for the worst case scenario
• Protect yourself with options and flexibility
• Have what the other guy wants
• Location can be enhanced through promotion
• Deliver the goods - your dreams are only good if you can back them up with results
• Control your costs carefully - failing to do so often results in failure
• Going big isn’t that much harder - it takes nearly the same amount of energy to manage 50 units as 1,500
• Project confidence and others will believe you
• Listen to your customers for business direction - not consultants or “experts”
• Never be in too much of a hurry
• Live in the area you work
• Develop lifetime friendships with key suppliers and business partners
• If you’re young, hire an industry veteran to lend credibility and pitch your ideas
• Aim for the top of the market

The Art of the Deal is a book I would recommend to anyone interested in improving their negotiating skills. I believe it’s far better to read books like this from a person who has reached the top of their field than to read conceptual ideas from a business theorist.