Latest / Real Donald Trump Wisdom / The Art of the Deal - Chapter 2: Trump Cards - Elements of the Deal - Deliver the Goods (1987)

Transcript

The Art of the Deal - Chapter 2: Trump Cards - Elements of the Deal - Deliver the Goods (1987) · Real Donald Trump Wisdom

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  Hey guys, back for another episode of Trump's
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  The Art of the Deal, TrumpCard's Elements of
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  the Deal. Deliver the goods, Trump says. You
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  can't con people, at least not for long. You
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  can create excitement, you can do wonderful promotion,
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  and get all kinds of press, and you can throw
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  in a little hyperbole, but if you don't deliver
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  the goods, people will eventually catch on. So,
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  of course, Trump here is talking about the business
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  world where you better deliver a quality product
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  and back up the fancy marketing with an equally
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  promising service and goods. But here he's going
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  to apply it first to the realm of politics. And
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  what I want you to keep in mind is that this
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  book is written in 1987. Trump is still a younger
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  man. This is how he characterizes the presidencies
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  of Jimmy Carter and then of Ronald Reagan. So
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  you'll see that he always says things as they
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  are or as he sees them. I think of Jimmy Carter
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  after he lost the election to Ronald Reagan.
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  Carter came to see me in my office. He told me
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  he was seeking contributions to the Jimmy Carter
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  library. I asked how much he had in mind. And
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  he said, Donald, I would be very appreciative
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  if you contributed $5 million. I was dumbfounded.
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  I didn't even answer him. But that experience
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  also taught me something. Until then, I'd never
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  understood how Jimmy Carter became president.
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  The answer is that as poorly qualified as he
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  was for the job, Jimmy Carter had the nerve,
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  the guts, the balls to ask for something extraordinary.
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  That ability above all helped him get elected
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  president. But then, of course, the American
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  people caught on pretty quickly that Carter couldn't
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  do the job, and he lost in a landslide when he
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  ran for re -election. So job seeking at Jimmy
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  Carter, then in there in 1987. Now he adds, you
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  see it's not about partisan politics. Here it
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  is purely about what he observed. Look what he
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  says about Ronald Reagan. Ronald Reagan is another
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  example. He is so smooth and so effective a performer
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  that he completed that smile. So when Trump publishes
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  these sentences, Ronald Reagan is still in office.
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  you see that he is really speaking his heart
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  and is relating what his eyes see. What he realizes
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  is that, yes, after eight years of Ronald Reagan,
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  the country still has issues and that the promises
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  or the promise of the Ronald Reagan presidency
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  wasn't achieved at the end of the eight years.
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  So he's a little disappointed. What we get from
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  this is that Jimmy Carter was a salesman. But
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  unfortunately didn't have the goods and that
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  Ronald Reagan was also a salesman, but didn't
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  deliver the goods. For me, the mission of his
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  life is to be the salesman and to deliver the
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  goods. And this is how long Trump has been thinking
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  about politics. So a good, we can say 40 plus
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  years ago, he was already having thoughts on
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  politics and on the presidency. If we see earlier
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  videos of his interviews, then all of his views
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  have been extremely consistent. And also what
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  I mean here is his criticism of leadership has
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  not changed. He likes leaders who back words
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  with action and he doesn't like leaders who don't.
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  Although he, of course, is an expert salesman,
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  he backs it up. And I think this is really what
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  he means here by deliver the goods. Now he's
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  going to go more on the business side and say,
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  that in his business the real estate development
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  business is full of people who talk a good game
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  but don't deliver when trump tower became successful
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  a lot of developers got the idea of imitating
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  our atrium and they ordered that their architects
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  to come up with a design the drawings would come
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  back and they would start costing out the job
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  what they discovered is that the bronze escalators
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  were going to cost a million dollars extra The
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  waterfall was going to cost $2 million. And the
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  marble was going to cost many millions more.
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  They saw that it all added up to many millions
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  of dollars. And all of a sudden, these people
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  with these great ambitions will decide, well,
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  let's forget about the atrium. The dollar always
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  talks in the end. I'm lucky because I work in
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  a very special niche at the top of the market.
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  And I can't afford to spend top dollars to build
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  the best. I promoted the hell out of Trump Tower,
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  but I also had a great product to promote. Needless
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  to say. The luxury business can be expensive,
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  but Trump carved out a niche for himself where
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  he was only selling really the top notch, top
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  of the line assets. And so he could afford to
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  add in very expensive elements like if you go
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  to Trump Tower, the fully marbled out walls.
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  For another developer that doesn't sell as much
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  of a dream would be harder to justify. And so
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  as good as your promise is, make sure that you
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  deliver the goods. And this is the lesson from
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  this mini chapter.