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The Art of the Deal (Paperback)
by Donald J. Trump
| Category:
Entrepreneurship, Business, Motivation, Self help |
| Market price: ¥ 108.00
MSL price:
¥ 98.00
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| Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
Entertaining, insightful and inspirational, Trump's account is a real American success story. |
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Author: Donald J. Trump
Publisher: The Ballantine Books
Pub. in: December, 2004
ISBN: 0345479173
Pages: 384
Measurements: 6.9 x 4.3 x 1.1 inches
Origin of product: USA
Order code: BA00050
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- Awards & Credential -
#1 National Bestseller (in North America) |
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- MSL Picks -
Even a maverick plays by rules, and here Trump formulates his own eleven guidelines for success. He isolates the common elements in his greatest deals; he shatters myths ("You don't necessarily need the best location. What you need is the best deal"); he names names, spells out the zeros, and fully reveals the deal-maker's art: from the abandoned property that became the Jacob K. Javits Convention Center to the seedy hotel that became the Grand Hyatt; from the race to rebuild Central Park's Wollman Skating Rink to the byzantine saga of the property that became Trump Tower. And throughout, Trump talks - really talks - about how he does it.
As an aspiring MBA/Law student, this book acted as a catalyst for motivation and self-aspirations. This book was motivating beyond any explanation and Donald Trump presents his career story and extravagant life without any pretentiousness. Then again, could we expect anyone else to get to the point quicker than "the Donald" does. (Take the apprentice, for instance and the virtually patented saying of "You're fired.")
Getting down to the actual book, the title is an apt name for this preliminary venture into literature by a man who has his name on pretty much everything these days. The book gives a very detailed account of certain deals that Mr. Trump saw through from beginning to end with many successes and (strangely but appropriately enough) a true failure. The manner in which he describes these deals borders on ostentatious- ness but it is not so overbearing as to ruin the book. After all, Trump is becoming (if it has not already become) a household name and pretty much everybody has had some kind of interaction with the Trump name. This is what minimizes the seeming bigotry of Mr. Trump because he does have room to brag given his successes. And besides, the advice he gives far outweighs the grandeur of his statements which means that he truly cares about the deals and not the money. This is in fact what he says throughout this book and the title clearly denotes it; for Trump, it's about the Art of the deal, not the material benefits that come with an undertaking and subsequent successful completion.
As I said before, this book is very inspiring and the manner in which the deals "unfold" builds a type of momentum in the reader that makes it hard to put this book down. The book actually changed certain aspects of the way I work and collaborate with others; that's another aspect of this book that makes it so valuable. Some of the tautologies of Donald Trump are so simple that he makes these aspects feel almost innate (which some of them are) but most of the things he mentions can be accomplished with some practice. But, if you pick up this book in hopes that it is some kind of master-plan to "Getting Rich Quick", don't bother wasting your money because this book isn't about what you can do to get rich. You can become successful at anything if you enjoy doing, which is why Donald Trump has become successful.
So, if you are an aspiring entrepreneur, MBA student or simply someone who wants to read about a very successful man who knows that true merits of loving your job, this book is an excellent match. Sure Mr. Trump comes across as being zealous but that's the way you have to be in business, especially real estate. But don't let me tell you how to live your life, decide for yourself, after you read this book of course! This being the first one of Trump's books that I have read, I do not anything to compare/contrast to his other books. I can't even tell you that it is a good book if you are a fan of "The Apprentice" but my parents gave me this book as a gift; they've read it and they loved it. They are also big fans of the Apprentice. If hearsay advice is good enough for you, take it and run. (From quoting an American reader)
Target readers:
Managers, entrepreneurs, professionals, MBAs and people longing to change their life by starting up their own business.
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DONALD J. TRUMP 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 The Apprentice, Trump and NBC are also partners in the ownership and broadcast rights for the three largest beauty competitions in the world. 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. Trump is the number one New York Times bestselling author of The Art of the Deal, Surviving at the Top, The Art of the Comeback, as well as The America We Deserve. All told, these books have sold millions of copies.
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From the Publisher:
Here is Trump in action. We see how he operates day to day – how he runs his business and how he runs his life – as he chats with friends and family, clashes with enemies, efficiently buys up Atlantic City's top casinos, changes the face of New York City skyline… and plans the tallest building in the world.
But even a maverick plays by rules, and here Trump formulates his 11 guidelines for success. He isolates the common elements in his greatest deals; he shatters myths; he names names, spells out the zeros, and fully reveals the deal-maker's art. And throughout, Trump talks - really talks – about how does it. Trump, The Art of the Deal is an unguarded look at the mind of a brilliant entrepreneur and an unprecedented education in the practice of deal-making. It's the most streetwise business book there is – and the ultimate read for anyone interested in money and success.
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I don't do it for the money, I've got enough, much more than I'll ever need. I do it to do it. Deals are my art form. Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals. That's how I get my kicks.
Most people are surprised by the way I work. I play it very loose. I don't carry a briefcase. I try not to schedule too many meetings. I leave my door open. You can’t be imaginative or entrepreneurial if you’ve got too much structure. I prefer to come to work each day and just see what develops.
There is no typical week in my life. I wake up most mornings very early, around six, and spend the first hour of each day reading the morning newspapers. I usually arrive at my office by nine, and I get on the phone. There's rarely a day with fewer than 50 calls, and often it runs to over a hundred. In between I have at least a dozen meetings. The majority occurs on the spur of the moment, and few of them last longer than 15 minutes. I rarely stop for lunch. I leave my office by 6:30, but I frequently make calls from home until midnight, and all week long.
It never stops, and I wouldn't have it any other way. I try to learn from the past, but I plan for the future by focusing exclusively on the present. That's where the fun is. And if it can't be fun, what's the point?
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Monday
9:00 AM. My first call is to Alan ("Ace") Greenberg, on the trading floor of Bear Sterns, a major Wall Street investment banking firm. Alan is the CEO of Bear Sterns, he's been my investment banker for the past 5 years, and he's the best there is. Two weeks ago, we began buying stock in Holiday Inn. It was selling in the 50s. As of this morning, Alan tells me, I own just over one million shares, or slightly more than 4% of the company. The stock closed Friday at $65 a share, mostly, Alan says, because the word is out on the street that I've been a big player, and there's speculation that I'm planning a run at the company.
The truth is I'm keeping my options open. I may ultimately go for control of Holiday, which I think is somewhat undervalued. At the current stock price, I could get control for less than $2 billion. Holiday's 3 casino-hotels could be worth nearly that much – and the company owns another 300,000 hotel rooms besides.
A second option, if the stock price goes high enough, is to sell my stake and take a very nice profit. If I did that today, I'd already be up about $7 million. The third possibility is that Holiday may eventually offer to buy back my shares, at a premium, simply to get rid of me. If the premium is big enough, I'll sell.
In any case, I enjoy seeing the lengths to which bad managements go to preserve what they call their independence – which really just means their jobs.
9:30 A.M. Abraham Hirschfeld called me, looking for advice. Abe is a successful real estate developer but he wants to be a politician. Unfortunately for Abe, he's a far better developer than politician.
This fall, Abe tried to run for lieutenant governor against governor Cuomo's hand-picked candidate, Stan Lundine. Cuomo led a court fight to get Hirschfeld off the ballot on technical grounds, and sure enough, halfway into the campaign, the courts ruled Hirschfeld out. Abe knows I'm friendly with the governor, and he wants my advice now on whether he should endorse Cuomo or switch parties and endorse Cuomo's opponent. I tell him it's a no-contest question – stick with the winner and a good guy at that.
We set a meeting for Thursday.
10:00 A.M. I call Don Imus to thank him. Imus has one of the most successful radio shows in the United States on WNBC, and he's been helping to raise money for the Annabel fund.
I'm amazed at how this has snowballed into such a media event. It began last week when I saw a national news report by Tom Brokaw about this adorable little lady from Georgia, Mrs. Hill, who was trying to save her farm from being foreclosed. Her 67-year old husband had committed suicide a few weeks earlier, hoping his life insurance would save the farm, which had been in the family for generations. But the insurance proceeds weren't nearly enough. It was a very sad situation, and I was moved. Here were people who'd worked very hard and honestly all their lives, only to see it all crumble before them. To me, it just seemed wrong.
Through NBC I was put in touch with a wonderful guy from Georgia named Frank Argenbright, who'd become very involved in trying to help Mrs. Hill. Frank directed me to the bank that held Mrs. Hill's mortgage. The next morning, I called and got some vice president on the line. I explained that I was a businessman from New York, and that I was interested in helping Mrs. Hill. He told me he was sorry, but that it was too late. They were going to auction off the farm, and "nothing or no one is going to stop it."
That really got me going. I said to the guy, "You listen to me. If you do foreclose, I'll personally bring a lawsuit for murder against you and your bank, on the grounds that you harassed Mrs. Hill’s husband to his death." All of a sudden the bank officer sounded very nervous and said he'd get right back to me.
Sometimes it pays to be a little wild. An hour later I got a call back from that banker, and he said, "Don't worry, I we're going to work it out, Mr. Trump." Mrs. Hill and Frank Argenbright told the media, and the next thing I knew, it was the lead story on the network news…
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| View all 10 comments |
Mike Wallace (MSL quote), USA
<2006-12-27 00:00>
This reads like Trump unvarnished – vainglorious, combative, ambitious, and unafraid to let us know about it. I find it fascinating all the way. |
New York Times (MSL quote), USA
<2006-12-27 00:00>
He makes one believe in American Dream again. |
Rolf Dobelli (MSL quote), USA
<2006-12-27 00:00>
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. We strongly recommend it to anyone who wants an entertaining look at some of the actual reality show behind Donald Trump's towering success. |
Shane A. Brewer (MSL quote), Canada
<2006-12-27 00:00>
"The Art Of The Deal" by Donald Trump is an excellent book outlining Trump's life and deals that he made over the first 20 years of his life. While this is dated somewhat by now, it is still a fantastic look into the mindset of a billionaire real estate developer.
Each chapter deals with a major deal that he undertook, with a couple chapters dealing with his childhood, what he considers necessary for a deal, and an outline of a work week for him (which is quite humbling for me).
Each of the chapters are more autobiographical but there are pieces of wisdom hidden throughout. I for one enjoyed reading through how each of his deals came together, the hurdles and struggles he had to go through to get them finished, and attitudes you need to get the job done. In Trump style, this book shows Trump's huge ego and somewhat narcissistic nature, but I think one would need that to take on the projects that he has done.
However, I very much enjoyed a peek into the thinking of Trump and a behind the scenes look at his deals. I highly recommend this book to any business-people out there or anyone interested in "thinking big". 5 out of 5 stars.
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