Trump: How to Get Rich
by Trump, Donald J.; McIver, MeredithEdition: Revised
Format: Paperback
Pub. Date: 2004-12-28
Publisher(s): Ballantine Books
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Summary
First he made five billion dollars. Then he madeThe Apprentice. Now The Donald shows you how to make a fortune, Trump style. HOW TO GET RICH Real estate titan, bestselling author, and TV impresario Donald J. Trump reveals the secrets of his success in this candid and unprecedented book of business wisdom and advice. Over the years, everyone has urged Trump to write on this subject, but it wasn't until NBC and executive producer Mark Burnett asked him to star inThe Apprenticethat he realized just how hungry people are to learn how great personal wealth is created and first-class businesses are run. Thousands applied to be Trump's apprentice, and millions have been watching the program, making it the highest rated debut of the season. InTrump:How To Get Rich, Trump tells allabout the lessons learned fromThe Apprentice, his real estate empire, his position as head of the 20,000-member Trump Organization, and his most important role, as a father who has successfully taught his children the value of money and hard work. With his characteristic brass and smarts, Trump offers insights on how to invest wisely impress the boss and get a raise manage a business efficiently hire, motivate, and fire employees negotiate anything maintain the quality of your brand think big and live large Plus, The Donald tells all on the art of the hair! With his luxury buildings, award-winning golf courses, high-stakes casinos, and glamorous beauty pageants, Donald J. Trump is one of a kind in American business. Every day, he lives the American dream. Now he shows you how it's done, in this rollicking, inspirational, and illuminating behind-the-scenes story of invaluable lessons and rich rewards.
Author Biography
<b>DONALD J. TRUMP</b> is the very definition of the American success story, continually setting standards of excellence while expanding his interests in real estate, gaming, sports, and entertainment. Aside from <i>The Apprentice</i>, Trump and NBC are also partners in the ownership and broadcast rights for the three largest beauty competitions in the world.<br><br>In New York City, the Trump signature is synonymous with the most prestigious addresses, including the renowned Trump Tower, the Trump International Hotel & Tower, the soon-to-be converted Delmonico Hotel at Park Avenue and Fifty-ninth Street (Trump Park Avenue). The Trump Tower, and 40 Wall Street. He also has acclaimed golf courses in Briarcliff Manor, New York and Palm Beach, Florida and two others in development in New Jersey and Palos Verdes, California.<br><br>Trump is the number one <i>New York Times</i> bestselling author of <i>The Art of the Deal</i>, <i>Surviving at the Top</i>, <i>The Art of the Comeback</i>, as well as <i>The America We Deserve</i>. All told, these books have sold millions of copies.<br><br>An ardent philanthropist, Trump is involved with numerous civic and charitable organizations. In June 2000 he received his greatest honor, the Hotel and Real Estate Visionary of the Century, given by the UJA Federation.<br><br><br><i>From the Hardcover edition.</i>
Excerpts
Be a General
I am the chairman and president of The Trump Organization. I like saying that because it means a great deal to me. There are almost twenty thousand members of this organization at this point. I did a print ad once in which I declared, “I only work with the best.” That statement still stands.
More and more, I see that running a business is like being a general. Calling the shots carries a great deal of responsibility, not only for yourself, but for your troops. Your employees’ lives, to a large extent, are dependent on you and your decisions. Bad strategy can end up affecting a lot of people. This is where being a leader takes on a new dimension. Every decision you make is an important one, whether there are twenty thousand people working for you or just one.
If you are careful when finding employees, management becomes a lot easier. I rely on a few key people to keep me informed. They know I trust them, and they do their best to keep that trust intact.
For example, when I need to know something about my casinos and hotels in Atlantic City, I know I can call up Mark Brown, my CEO, and get a fast and informed answer. If I call Laura Cordovano over at Trump Park Avenue and ask about sales, she’ll give it to me exactly as it is. If I call Allen Weisselberg, my CFO, he’ll tell me what I need to know in twenty words or less. My senior counsel and Apprentice adviser, George Ross, can do it in ten words or less. Find people who suit your business style and you’ll have fewer problems to deal with as time goes on.
Good people equals good management and good management equals good people. They have to work together or they won’t work together for very long. I’ve seen good management get by with mediocre people, and I’ve also seen excellent people get stuck in the mires of bad management. The good managers will eventually leave, followed by the good workers, and you will be left with a team that gets along because they’re all mediocre. Save yourself time by getting the best people you can. Sometimes this can mean choosing attitude over experience and credentials. Use your creativity to come up with a good mix.
Creative people rarely need to be motivated–they have their own inner drive that refuses to be bored. They refuse to be complacent. They live on the edge, which is precisely what is needed to be successful and remain successful.
One of my former employees was in charge of
a new project. He had done a thorough and ac-
ceptable job, but I felt that something was missing. It wasn’t fantastic, which, knowing his capabili- ties, it should have been. I decided to challenge his creative ego by mentioning that it was fine but seemed to lack inspiration. I politely asked him whether he was genuinely interested in the proj- ect and suggested that perhaps that might be the problem.
Well, the guy went ballistic on me. He was deeply insulted.
And, as you can probably guess, the revision he turned in was terrific. The difference between the first draft and the final version was incredible. I didn’t slam the guy because he was usually demanding of himself and had never let me down. But I had to give him a jolt.
Generals motivate their soldiers; they inspire them when it is necessary. They do the same for their highest-ranking officers. We all need a boost now and then. Learn how to tailor your method to the personalities you are managing.
Keep the big picture in mind while attending to the daily details. This can seem like a balancing act, but it is absolutely necessary for success in running a company.
I am the chairman and president of The Trump Organization. I like saying that because it means a great deal to me. There are almost twenty thousand members of this organization at this point. I did a print ad once in which I declared, “I only work with the best.” That statement still stands.
More and more, I see that running a business is like being a general. Calling the shots carries a great deal of responsibility, not only for yourself, but for your troops. Your employees’ lives, to a large extent, are dependent on you and your decisions. Bad strategy can end up affecting a lot of people. This is where being a leader takes on a new dimension. Every decision you make is an important one, whether there are twenty thousand people working for you or just one.
If you are careful when finding employees, management becomes a lot easier. I rely on a few key people to keep me informed. They know I trust them, and they do their best to keep that trust intact.
For example, when I need to know something about my casinos and hotels in Atlantic City, I know I can call up Mark Brown, my CEO, and get a fast and informed answer. If I call Laura Cordovano over at Trump Park Avenue and ask about sales, she’ll give it to me exactly as it is. If I call Allen Weisselberg, my CFO, he’ll tell me what I need to know in twenty words or less. My senior counsel and Apprentice adviser, George Ross, can do it in ten words or less. Find people who suit your business style and you’ll have fewer problems to deal with as time goes on.
Good people equals good management and good management equals good people. They have to work together or they won’t work together for very long. I’ve seen good management get by with mediocre people, and I’ve also seen excellent people get stuck in the mires of bad management. The good managers will eventually leave, followed by the good workers, and you will be left with a team that gets along because they’re all mediocre. Save yourself time by getting the best people you can. Sometimes this can mean choosing attitude over experience and credentials. Use your creativity to come up with a good mix.
Creative people rarely need to be motivated–they have their own inner drive that refuses to be bored. They refuse to be complacent. They live on the edge, which is precisely what is needed to be successful and remain successful.
One of my former employees was in charge of
a new project. He had done a thorough and ac-
ceptable job, but I felt that something was missing. It wasn’t fantastic, which, knowing his capabili- ties, it should have been. I decided to challenge his creative ego by mentioning that it was fine but seemed to lack inspiration. I politely asked him whether he was genuinely interested in the proj- ect and suggested that perhaps that might be the problem.
Well, the guy went ballistic on me. He was deeply insulted.
And, as you can probably guess, the revision he turned in was terrific. The difference between the first draft and the final version was incredible. I didn’t slam the guy because he was usually demanding of himself and had never let me down. But I had to give him a jolt.
Generals motivate their soldiers; they inspire them when it is necessary. They do the same for their highest-ranking officers. We all need a boost now and then. Learn how to tailor your method to the personalities you are managing.
Keep the big picture in mind while attending to the daily details. This can seem like a balancing act, but it is absolutely necessary for success in running a company.
Excerpted from Trump: How to Get Rich by Donald J. Trump, Meredith McIver
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