Trump: How to Get Rich

If You Have Them by the Balls, Their Hearts and Minds Will Follow

In this part of the book, I want to tell you about some of my favorite deals and the essential rules of negotiation they exemplify.

First, though, here’s my basic philosophy of how deals are done: It’s all about persuasion, not power.

Power is merely the ability to convince people to accept your ideas.

Just because I am a successful businessman doesn’t mean I always get my way. It’s true that I don’t have to be as vociferous about things as before. I don’t have to act like a bulldozer to get attention. But I have to coax and make my case just like any other negotiator.

An interviewer from Brazil recently asked me what the best parts and the worst parts of having so much money and success were. I had the same answer to both questions: the effect it has on people. Anyone in a position of power will probably agree with me. There are pluses and minuses.

The plus side is that people will listen to you more readily than if you aren’t on the map financially. The minus side is that they will reduce you to one dimension and keep you there.

Power is not just about calling all the shots. It’s about ability. You can call all the shots, but if they’re bad ones, no one will take much notice after a while.

Know what you’re doing. That’s where the real power comes from.

Convincing others has a lot to do with understanding negotiation. Study the art of persuasion. Practice it. Develop an understanding of its profound value across all aspects of life.

Don’t expect people to believe your blarney simply because you’re good at delivering it. The boardroom is not the pub down on the corner.

Make it easy on the people you are trying to convince. Give them readily accessible metaphors and analogies. If you are too far over their heads, they’ll feel frustrated or, worse, inferior. Let them know you’re all on the same level in some way. Use humor. It’s a great icebreaker. I sometimes tell people that I wish our meeting had been yesterday, because I was having a great hair day and they missed it!

Convincing other people of how wonderful you are and how lofty your ideas are is a good way to convince them to tune out or, better yet, to escape from you as soon as possible. We all need to have a healthy dose of confidence to be convincing, but don’t bulldoze. If you do, you may see a lot of people in front of you at first, but the room will soon be empty.

As the adage goes, There’s a fine line between acceptance and resignation. You want people to accept your ideas, not merely be resigned to them because they think they can’t fight back or are just plain exhausted by you. Don’t browbeat them into believing you. Let them think the decision is theirs. It will give them a feeling of control.

Here is the golden rule of negotiating:

• He who has the gold makes the rules.

• If you walk into a negotiation and know nothing about the other party, let them talk, listen to their tone, observe their body language, and determine whether they really want to make a deal or just show you how smart they are.

• Most negotiations should proceed calmly, rather than in a hostile manner. However, sometimes a negotiation works best after a few screams and some table pounding.

• The best negotiators are chameleons. Their attitude, demeanor, approach, and posture in a negotiation will depend on the person on the other side of the table.

• If the other party to the transaction wants to acquire something you own, let them convince you that you really don’t want it or need it. In doing so, they’ll convince you of just how badly they want it.

• Money is not always the only consideration for exchange in the sale of an asset. Think beyond the traditional boundaries.

• Learn the value of saying no. View any conflict as an opportunity.

• Most important, know the party on the other side of the table before sitting down with them. Research who you’re dealing with, how they negotiate, and what they want from you.

Now you’re ready to deal. The following stories illustrate these basic rules.