Three decades ago, "The Art of the Deal" made Donald Trump a household name. A lot has happened since then. But you can trace many of Trump's actions back to that book.
Art of the Deal:
In the end, you're measured not by how much you undertake but by what you finally accomplish.
People laughed when he announced that he was running for President. And I mean that literally. Remember the 2011 White House Correspondents' Dinner when Obama roasted Trump, viciously, mocking the very idea that Trump could ever be President. Now, he's President.
You can't con people, at least not for long. You can create excitement, you can do wonderful promotion and get all kinds of press, and you can throw in a little hyperbole. But if you don't deliver the goods, people will eventually catch on.
This empire-building is a mark of Trump.
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The most recent example is the border wall. Yesterday, congress reached a compromise on funding for the border wall. Weeks of tense back-and-forth built up to that moment. At times, it seemed like neither side would budge. Trump stuck to his guns, the government shut down, Trump refused to budge, then, miraculously, the lights came back on again. The result was a compromise. Or at least that's how it appeared.
But really, Trump got what he wanted -- exactly what he wanted. He used the techniques he wrote about in The Art of the Deal:
My style of deal-making is quite simple and straightforward. I aim very high, and then I just keep pushing and pushing and pushing to get what I'm after.
From the start, he demanded $5.7 billion for construction of a border wall. It was a months' long tug-of-war that eventually resulted in yesterday's legislation, which would dedicate $1.4 billion. It would appear that that was what he was after all along. Moments before the vote, he did some last-minute pushing. A national emergency declaration, and suddenly the number is $8 billion.
Art of the Deal:
People think I'm a gambler. I've never gambled in my life. To me, a gambler is someone who plays slot machines. I prefer to own slot machines. It's a very good business being the house.
In a rare show of bipartisanship, Senate passed the legislation 83-16, and the House followed with 300-128. Today, Trump will sign the bill.
It's not even fair to call that a deal, really. A deal is what happens when you go to a car dealership, fully ready to buy a car, and the salesman says the right things. What Trump did is more like a car dealer selling an entire row of cars to someone who doesn't even have a licence. When Trump started, Democrats wouldn't even consider a wall, let alone pay for it.
Art of the Deal:
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. I call it truthful hyperbole. It's an innocent form of exaggeration—and a very effective form of promotion.
He started the wall on a chant, "Build the wall!" until he got what he wanted. He maneuvered like Don Draper, selling people something that they didn't even know they wanted, and convincing them that it is exactly what they've always needed.
Morningstar via Investopedia