Think Like a Champion: An Informal Education in Business and Life

by Donald Trump

  Heredity and environment are two factors that I consider seriously, from personal experience. My father was a great example: He was in the construction and real estate industry, and I saw first-hand what it took to succeed. I had no delusions of it being an easy or glamorous path. I chose to make it more glamorous because my tastes went toward that aesthetic. I consider myself very fortunate to have had this education from my father from an early age. I believe it gave me a great advantage, and I often say that I’m a member of the lucky sperm club.

  But did it give me a natural talent? I don’t think so. It gave me an advantage that I deliberately chose to develop into an advantage. You can be around something and either have no interest or aptitude for it, so it wouldn’t be of any help to you. My elder brother had no interest in real estate and decided to do something else. I had a friend who worked on Wall Street because everyone in his family did, but he was a disaster. All the familiar indications were there for his success, but he wasn’t suited for it, and not until he left and did something else did he become successful.

  When I started to develop golf courses, I had a lot to learn. I loved the game and knew golf courses as a player, but developing a golf course is another story. I consulted with the world’s experts before I started out. My golf courses have won awards for their beauty, but it wasn’t a natural talent I had as a developer. My advantage is that I had a passion for the game and wanted the most beautiful courses possible to be realized.

  There has been research done on cross training your brain, and they mention how you can transfer the skills developed to enhance your performance in other areas. That’s one reason I have always encouraged people to golf—it’s a brain game and it works on several levels. I’ve gotten a lot of great ideas and solutions to problems during a golf game, so I readily endorse this theory. It works. It might be painting or playing the piano that works for you, but it gives credibility to the developing of a hobby or outside interest that will complement your business bent.

  I’ve also come to believe in luck. I’ve known people who have worked hard and done everything to succeed, and yet it just doesn’t seem to happen for them. I’m not sure what the concrete reasons might be, but it makes me believe in luck to a certain extent. It’s also true that not everyone can be wildly successful. Maybe it’s just a balance in the world that we can’t always control. But I’ve noticed that it helps to believe you’re lucky, because luck will seem to favor you.

  Business is about creativity. That’s where the art part comes in. Every industry has its leaders, and if I’m known in real estate, it is because I approach my work cognitively as well as creatively. Peter Gelb, the general manager at the Metropolitan Opera, is really putting the opera back on the map by applying contemporary marketing ideas to this venerable institution. He is promoting it in ways that today’s market can absorb and appreciate. You have to be alert for ways of revitalizing the old and creating the new, or combining them, to achieve the best results.

  It was decades ago that I bought the deserted rail yards along the Hudson River, and today Trump Place is nearing completion—eighteen beautiful buildings, a park, and a pier that have enhanced Manhattan’s West Side. Sometimes people think things just happen overnight, but that’s not always the case, even if you are well known and well established. Success is often a matter of patience, and patience can be developed if you don’t have it naturally.

  In summation, is business success a natural talent? I think it’s a combination of aptitude, work, and luck.

  He who will not economize will have to agonize.

  —CONFUCIUS

  Keep It Short, Fast, and Direct

  When Confucius mentions “agonize” in his quote, I have to tell you that I can relate. As someone on the receiving end of conversations with people who do not know how to edit themselves, I can understand what agony means. I don’t mean to be impolite, but I am often thinking to myself, “how long is it going to take for this person to get to the point? We could’ve flown to Australia by now and they’re still in the middle of take-off.” Business is no place for stream of consciousness babbling, no matter how colorful you might think you’re being. Whatever you’re doing, keep it short, fast, and direct. It’s also more polite. Most people don’t have time to waste. I realize that Confucius was referring to the noneconomizer, and they will suffer, too, but why make everyone miserable by being unnecessarily chatty?

  I mentioned in my book Think Like a Billionaire that Ricardo Bellino had exactly three minutes to give me his business presentation. I was extremely busy that day and not particularly in the mood for a presentation, so I thought he might decline, which would free up my day a bit. Not only did he not decline, he gave me such a great presentation within those three minutes that we did a deal together. It’s surprising what people can do with a deadline.

  I mention that because sometimes we have to give ourselves deadlines. Practice giving your presentation in under five minutes. Practice giving your introduction in less than three minutes. You will discover that you can be an effective editor by cutting out everything that isn’t absolutely necessary. Your audience, or your superiors, will be grateful for your ability to distill the essence for them.

  We probably all know what it’s like to receive junk mail. Sometimes there are piles of it waiting for us, and we have to sort through it all to get to the important stuff. Don’t offer any junk mail to anyone—just give them the good stuff, or the necessary items. That can get you places far faster than you can imagine.

  In that sense, business is often like a relay race. To have a tight team, a winning team, you can’t have someone who lags behind, because everyone will suffer because of it. Make sure you’re not the one who holds things up for everyone. Learn to sprint when it comes to being clear. Have a contest with yourself by asking, “How concise can I possibly be?” Then best yourself every time. Get to the essence immediately.

  Someone who analyzed my negotiating technique said I had an advantage over most people because I had the ability to get to the point faster than anybody else.While they were still formulating their sentences, I’d already written the book. I already had the deal done in my head. That ability didn’t happen overnight—I’ve worked at it for a long time. But we can all put that technique to work every day, whether it’s relaying a message to someone, writing a letter, or ordering lunch.

  Those of you who have watched The Apprentice will notice that the candidates who can present the facts with the least amount of verbal decoration will have an advantage. Listening to a five-minute explanation that can be easily edited to thirty seconds auto matically sends a red alert to me and my advisors. We don’t have the time for loquacious colleagues, and the longwinded diatribes we often have to suffer through will greatly diminish their chances of winning.

  Simple as it sounds, there is great wisdom in the short, fast, and direct route. Knowing where you’re going in your conversation and demonstrating to others you know where you’re going by being concise, is a big step toward leadership and respect. Hone these skills in every situation and with every opportunity you have, whether you’re in line at the corner deli or in the boardroom on The Apprentice. Learn to economize. People appreciate brevity in today’s world.

  Don’t find fault.

  Find a remedy.

  —HENRY FORD

  Have the Right Mindset for the Job

  When I think of work, I often see it as problem solving. I’ve said before that if you don’t have problems, then either you’re pretending not to see something or you don’t run your own business. Problems come with the territory, and they should never surprise you. You should expect them.

  Even if you work for someone else, it’s a good idea to expect problems and to be ready for them. To me it’s a realistic approach. No matter how hard you work, there are times that things happen that are out of our control. Keep your eyes on your ideals as well as reality. That’s what being prepared really means.

  Very o
ften when people refer to the morning of September 11, 2001, they will mention that it was a beautiful September morning in New York City. Within two hours, our view of a beautiful morning had been radically changed. Were we prepared for it? Could we control the outcome?

  That is an extreme example, but it helps to be in control of those things we can control. Every day ask yourself what problems might arise, review every project yourself, and make sure you are on top of your own agenda. Be as thorough as possible. Be alert. In business, there are no half-days or slow days. If there are, something’s missing. Make it your business to find out what it is, and then do something about it. Find a remedy.

  When I say have the right mindset, I am thinking about responsibility. People who take responsibility have no need to blame others or to be continually finding fault. These are the naysayers who never amount to much, and never manage to contribute much either. Don’t join their club. They’re the lowest common denominator.

  I knew a guy that I used to call up just to see who and what he would be blaming that day. I don’t think that guy ever made a single mistake in his entire life—from day one nothing was ever his fault. His biggest blind spot was himself, and sad to say, he eventually became a total loser because he never thought of the remedy for his many failures: himself. Look at yourself first when things go wrong.

  I’ve been in business long enough now, and have had ups and downs, so I can go from seeing the problem to seeing the solution rather quickly. Don’t emphasize the problem so much—emphasize the solution. It’s a mindset that works, and it’s one way to accentuate the positive without being blind to the negative.

  Another tip for those of you who work for someone else: While you may be budding entrepreneurs, there is great value to being able to be an effective and efficient team player. If you have watched The Apprentice, you will notice that the people without team skills don’t do so well.Yes, each person wants to win, but part of the game, and an important part, is to work well with your team. It’s something that will be noticed in any work environment. Can you employ out-of-the-box thinking while remaining within the constraints of team effort?

  I’ve also noticed how much time The Apprentice teams spend bickering and infighting, which is not only a waste of precious time, but annoying and sometimes even embarrassing. These people are highly qualified, and to see and hear them carrying on at length, many times over inconsequential things, is a clear indication that they should heed Henry Ford’s advice about finding a remedy instead of finding fault.

  Give your full attention to your work! I’m constantly surprised by people who don’t seem to have this ability. That’s why you hear me emphasizing focus so much—it’s absolutely necessary in order to achieve results. Mindset includes responsibility and focus. We all know how to turn on the television set. Be equally adept at turning on your mind to matters at hand and you might surprise yourself by what you can accomplish.

  The beginning of wisdom is a definition of terms.

  —SOCRATES

  Momentum Is Something You Have to Work at to Maintain

  Socrates lived a long time ago, but he came up with some good ones. For example, a definition of terms could be another way of saying “negotiation” or it could mean the definition of a word or simply the wisdom of being concise. But just as negotiation takes practice, so does momentum. You don’t do one great deal and then think that every deal you subsequently make will automatically be great. You don’t get a great rhythm going once and then think it will always be there. Even the greatest jazz musicians know there’s a “zone” they’re aiming for, and hopefully they’ll get there. But they don’t take it for granted that they will. They work at it every time they play.

  Momentum comes in different forms, but its common denominator is energy. Some synonyms are power, force, strength, impetus, and drive—all good things for accomplishments of any sort. We’ve all heard of biorhythms and how we have high days and low days, but my approach to that is to design your own chart and then work at maintaining it. My biorhythms are always on full speed ahead. I’ve developed my stamina to keep up to that level, and the results are apparent at this point.

  Many things become easier with practice and experience, and momentum is one of them. You can take advantage of this great energy source just by being aware that it exists. It’s like swimming with the current versus being dragged down and out by a riptide. Find your own current and then go with it! Don’t allow for distractions. Do everything you can to maintain your energy flow.

  There was a hugely successful real estate developer that I admired very much, and then he went into a decline. We saw each other at a party, and I pointedly asked him what caused this to happen. He said, “Donald, I lost my momentum, and I couldn’t get it back.” When this guy fell, he fell hard. I learned a great lesson from him that night, so much so that I devoted a lot of time to studying and applying the power of momentum to my own life and business. I didn’t ever want that to happen to me, and I repeat this story for a reason. The lesson applies whether you’re in real estate or not.

  I see people who get in their own way when it comes to momentum. I knew a guy who would take ten big fast steps forward and then sit there, like he’d reached a plateau, and would expect things to just keep moving forward. It doesn’t work that way! Maybe he liked the rollercoaster approach to business, but he literally wore himself out before he had enough substantial success to see him through, and his ups and down didn’t work out on the balance sheet in the long run. Watch out for streaks of momentum that you can’t sustain—keep your equilibrium in all things, even in your energy output.

  There’s a Newsweek ad from the late ’80s in which they have a photograph of me with the caption, “Few things in life are as brash as Newsweek.” I don’t mind being called brash because to me it’s being bold, it’s having energy, it’s getting things done. But there are constraints to be considered, and my momentum is carefully monitored. I’m not exactly brash in that sense, but I know you can’t get things done if you’re too timid. My persona will never be one of the wallflower—I’d rather build walls than cling to them.

  Socrates said things that can make us think. So here’s another take on the quote that opened this essay: Maybe he’s advising us to define our own terms. Maybe he’s suggesting that we start thinking for ourselves. Maybe what he’s suggesting is actually very wise advice. In that case, my advice to you regarding momentum is definitive: Get yours going!

  Is it a blip, or is it a catastrophe?

  —DONALD J. TRUMP

  Learn from Setbacks and Mistakes

  How we handle difficult situations in life says a lot about who we are. How we view them is also an important element in how we will deal with adversity. Some events will wipe out one person but will make another person even more tenacious. That’s why I always ask myself, “Is this a blip, or is it a catastrophe?”—it gives me a point of reason in the midst of bad news.

  You’ve heard me talk about passion before, how it’s a necessary ingredient for success. Reason is also necessary, and when we experience setbacks and mistakes, that can be a good time to employ reason or objectivity. It also sets us up to learn something from the experience. It’s like the old saying about when one door closes, another door opens—I see it as meaning there’s another chance, another opportunity waiting. But we have to be open to it. I’ve known some people who could be staring at an open door and not even realize it’s open, let alone its significance.

  I can remember when things turned around for me in a big way, and what I learned is that you have to maintain your focus at all times—and your momentum.You’ve heard me mention those two success tips before, and this is because I learned about them the hard way—I’d lost my focus and suddenly I was faced with some setbacks. But here’s another thought: Your problems can be temporary if you keep your momentum moving forward. We all experience difficulties, but they can be blips if you remain positive and move on.

  Whe
n I decide to do something, I have enough experience to expect problems. Rarely is anything worth doing just a breeze. Sometimes I feel like Sisyphus, who was condemned to ceaselessly rolling a stone uphill—but that’s just the way it is sometimes. So I just keep going. I don’t give up. My focus is intense enough to make the effort worth it, and my momentum makes sure that my efforts won’t be futile. I have learned a lot because of demanding situations.

  One way to avoid mishandling mistakes is to realize they can happen to us every day. It’s a way of being prepared without being a pessimist. Problems, setbacks, mistakes, and losses are all a part of life. It’s something we have to accept. We shouldn’t be shocked if and when they happen. Don’t let things knock you off your feet or off your rocker either. Keep your equilibrium by knowing what you’re dealing with. If you are taken by surprise, then by all means, ask yourself what you’ve learned from the experience. Don’t just go out and make the same mistake again and hope for the best. You’ll be getting a lot of the same hard knocks and tough lessons over and over again if you don’t assess your situation each and every time.

  Here’s where the going gets tricky. You have to know when to call it quits and when to keep moving forward. There’s always that fine line between acceptance and resignation to think about. Sometimes it’s not so fine—as when you find out someone is a scoundrel and nothing’s going to change them. Then it’s wise to call it quits with them. Other times, we have to realize that everyone makes mistakes and to try to be a little more accepting of that fact. Just as you don’t want to give up on yourself, you can’t always just give up on other people either. That’s where experience and discernment will come in. But what’s most important is to never give up on yourself. You never know when the tide is going to turn in your favor, providing you have been paying attention and working toward something worthwhile.