[Swiftwater Gazette] by the Donald
kroposki at att.net
Wed Feb 24 11:09:07 EST 2016
The following are old articles by none other than Donald Trump and about him:
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TheArt of NegotiationGuestpost by: Donald J. Trump http://www.evancarmichael.com/Entrepreneur-Advice/576/The-Art-of-Negotiation.html
Negotiatingis an art. There are nuances and finely honed techniques and rules tobe aware of. Here are a few of them:
Knowwhat you’re doing. Sounds simple, but I’ve seen a lot ofinstances where I couldn’t believe how much the other side didn’tknow. I immediately knew I could have a grand slam and fast, justbased on their apparent lack of preparation. My father used to tellme, “Know everything you can about what you’re doing.” He wasabsolutely right, and I’m giving you the same advice. Follow it.
Remember,it takes a lot of smarts to play dumb. This is a good way to see howmuch your negotiating partners don’t know. It’s also a good wayto see if they are bulldozing you.
Keepthem a bit off balance. What they don’t know won’t hurt you, andthat may help you down the line. Knowledge is power, so keep as muchof it to yourself as possible.
Trustyour instincts. There are a lot of situations that will not be blackand white in negotiating, so go with your gut. Combine this with yourhomework and you’ll be ahead of the game.
Don’tbe confined by expectations. There are no exact rules, and sometimesI’ve changed course in the middle of negotiations when somethingnew has occurred to me. Remain flexible and open to new ideas, evenwhen you think you know exactly what you want. This attitude hasprovided me with opportunities that I would not have thought aboutbefore.
Knowwhen to say no. This has become instinct for me by now, but I thinkwe all know when that buzzer goes off inside. Pay attention to thatsignal.
Bepatient. I’ve waited for some deals for decades, and it was worththe wait. But make sure what you’re waiting for is worth it tobegin with.
Tospeed up negotiations, be indifferent. That way you’ll find out ifthe other side is eager to proceed.
Rememberthat in the best negotiations, everyone wins. This is the idealsituation to strive for. You will also be laying the ground work forfuture business deals with people who know what integrity is.
Insumming up, I can say that negotiation is an art. All the artsrequire discipline, technique, and a dose of imagination to take thembeyond the realm of the ordinary. Don’t be an ordinary negotiatorwhen you can be an extraordinary one. Devote time to this art and itcan bring you enormous rewards.
UpdatedJan 24, 2011
Afriend of mine just sold his company to Donald Trump. The story hetold me about the negotiation with Trump not only provides someinsight in Trump's negotiating skills, but also illustrates animportant point about "selling high." Even if your prospectis an uber-bigwig, you must treat the prospect as an equal.Otherwise, you run the risk of being fleeced. Here's how thesituation played itself out for my friend...
Abouta year ago, my friend was contacted by Trump's organization with abid to acquire his company, a medium-sized startup in the health andbeauty field. After a period of due diligence and preliminarynegotiation, my friend was invited to meet with Trump in order toiron out the final terms.
Themeeting was held famous Trump Towers in New York City. My friend,though savvy at business, found it impossible not to be awed by thefact that he was riding the elevator featured in television show TheApprentice.
Ratherthan meeting immediately with Trump (the original plan), my friendwas taken to a conference room to discuss the final terms with somestaffers.
Amessage was then brought to the meeting that Trump would be arrivingat the meeting in a few minutes. A staffer took my friend aside andsaid: "You need to understand that Mr. Trump never shakes handswith anybody. So don't be offended if he doesn't offer his hand, anddon't offer your hand when he comes in the room."
Whilemy friend digested this tidbit, the staffer continued. "Mr.Trump is a very busy man and prefers to make decision quickly. So ifthe meeting lasts less than five minutes, please don't take it amiss,because that's normal for him."
Finally,Trump makes his appearance. He walks right over to my friend andwarmly shakes his hand. Then Trump proceeds to spend 40 minutes withmy friend, discussing the business and then, at last, ironing out thefinal terms.
Andthose terms were, as you probably guessed, less advantageous than myfriend might have hoped.
Now,when my friend told me this story, he kept talking about howimpressed he'd been by the Trump Towers and how gracious Trump hadbeen. "He even shook my hand!" he said, taking that as asign of special privilege. Game#1: The Impressive Office. CEOs have impressive offices becausethey want you to be awed. If you are, you're being just as stupid asteenage girl who's impressed because a guy has a neat car.Game#2: The "He's Too Busy" Routine. CEOs sometimes makeyou wait to see them, even if you have an appointment, in order tomake you feel that the CEO and his desires, are more important thatyou time and your desires.Game#3: The Underling Gauntlet. CEOs often use underlings to makeyou feel like an underling. If you're not careful, you end up feeling"socially" bonded to the underlings and thus in asubservient position while meeting the CEO.Game#4: The Unexpected Handshake. The first three games above arepretty common in CEO land. This one is new to me, so I guess it'ssomething that Trump thought up himself. Trump is turning a commonbusiness courtesy -- the handshake -- into a negotiation advantage.My friend felt complimented that Trump shook his hand. Give me abreak!Game#5: The Meeting Extension. CEOs often set low expectations ofthe amount of time they'll be spending, so that people feelcomplimented if they spend more than that amount. Trump probably hadan hour blocked off anyway, because this was a fairly significantbusiness deal.
Now,I'm not sure that I would have done any better than my friend. It'seasier to be a negotiation strategist when you're sitting in yourhome office than when you're inside a famous television location,meeting one of the most famous businessmen in the world.
Evenso, I suspect my friend would have gotten a better deal if he'd kepthis cool and realized that he was being gamed. But instead he lethimself get caught up in all the folderol of power.
Hereare the lessons to be learned from this:
Whenyou're selling to CEOs, don't get caught up in their exaltedself-image. CEOs, even Trump, are just plain folk. If you're sellingto them, you're their equal by definition. YOU have something the CEOneeds; the CEO has something you want. So the two of you are equallyimportant.
Also,you MUST continually be aware, when you're negotiating at the highestlevels, that there's a good chance that there will be mind games.Anything out of the ordinary or that "feels weird" shouldraise red flags.
Onetechnique that works for me, when dealing with "celebrity"CEOs (and I've interviewed plenty) is to make a realistic assessmentof who they really are behind the facade.
TakeTrump, for instance. He's so insecure about his looks that he keepswearing that awful comb-over, and he keeps marrying not-very-brighteye-candy.
Thisisn't to say that you can't learn something about business fromTrump. But, when it comes down to it, he's just a dude, and if he'splaying games with your mind, your mind doesn't have to join in. Mr.Trump is committed to personal and direct involvement in everythingthat his name represents. This commitment has made him the preeminentdeveloper of quality real estate known around the world.
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