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

by Donald Trump

  —RALPH WALDO EMERSON

  Discover and Live Your Purpose

  One thing I’ve learned about life is that it is a series of discoveries. It starts with discoveries and hopefully should continue that way. Remember how exciting it was to learn to ride a bike? Ever watched a child taking their first steps? It’s a momentous occasion. If we can capture that kind of excitement every day, I think we’re on our way to wisdom.

  Albert Einstein said, “The mind that opens to a new idea never comes back to its original size.” I agree. Once you’ve learned to walk, why would you want to go back to crawling around? It wouldn’t make sense. We all have a purpose in life, and that’s to do our best to live up to our potential.

  It’s really pretty simple. All we have to do is tune in to our talents and capabilities. Remember, I didn’t say it was easy—I said it was simple. Sometimes we get so distracted that it’s hard to tune out enough to be able to tune in at all. We are bombarded by outside information all day.The challenge here is to find the quiet time to be able to assimilate our own inside information in the midst of all the cacophony.You have to unplug before you can plug yourself back in.

  I’m a busy guy, but I set aside quiet time every morning and every evening to keep my equilibrium as it should be—which is centered on my own path. I don’t like being swayed by anything that might be negative or damaging. When Emerson talks about leaving a trail, he’s right. That means you can’t be following someone else’s path.That means you’d better spend some time focusing yourself on your own path and your own purpose.

  This is a serious issue, for worldly as well as personal reasons. The worst things in history have happened when people stop thinking for themselves and listen to other people and, even worse, start following other people. That’s what gives rise to dictators. Avoid that at all costs. Stop it first on a personal level and you will have contributed to world sanity as well as your own.

  In business, I’ve discovered that my purpose is to do my best, to my utmost ability, every day. That’s my standard. I learned early in my life that I had high standards. Ever hear of intrinsic value? Intrinsic means basic, inborn, elemental. If you have an intrinsic value, it cannot be taken away or shaken. It’s a form of strength that can be unbeatable.

  Discovery means finding out something we didn’t previously know. Purpose is an intention or an end to be attained. We have the tangible and the intangible in life. Let them balance each other out to your best advantage. I may be in a reality-based business, but I have a sense of the mystery in life that keeps me feeling like an explorer. Don’t put blinders or borders on yourself.

  I could have very easily dismissed Mark Burnett’s idea for The Apprentice simply based on the fact that I was already very busy. But it was a new challenge and a new discovery for me. It served a part of my nature, which is that of an educator. Finding your purpose may be a lifelong pursuit or you may have found it when you were five years old. There’s no absolute timeline for anyone. That’s a good reason to never give up, to keep on discovering things every day. It’s also a terrific recipe for a successful life. Following your own path will bring you to the places you were meant to be. Expand your horizons! In other words, think big and live large.

  Freedom is not the right to live as we please, but the right to find how we ought to live in order to fulfill our potential.

  —RALPH WALDO EMERSON

  Set the Standard

  People who work for me know that my media persona of being positive and enthusiastic isn’t just a façade. I am that way—from the inside out. I have big ideas and a big enough energy resource to get them done. Those who are around me will eventually catch on that that is how I operate. It’s an effective approach that obviously works. It’s contagious in the best sense of the word. One thing everyone knows about The Trump Organization is that we get things done and our energy level is one reason why. I’ve set the standard and everyone follows suit.

  If you like to work hard, you will attract people with the same ethic. The people who work with me enjoy the daily challenges and set their own standards to meet those challenges. Their pattern of thinking matches mine—how do we accomplish more? How do we get to where we want to go? It’s a combination of vision, courage, and discipline to realize that the possibilities are always there. But if you’re thinking too small, you might miss them. Learn to think big.

  Ask yourself this question: What standard would you like to be known for? Then go about setting that standard for yourself. No one else can set it for you. I can remember when my father couldn’t understand why I wanted to develop in Manhattan. I’d had my eye on Manhattan since I was in college, and it was a goal I intended to reach.Years later, when I was describing my ideas for Trump Tower to my father, including the glass and bronze exterior, he couldn’t understand why I would choose anything other than bricks to build with. Bricks worked for him, so why not for me? Because I was setting my own standard. When Trump Tower opened to wonderful reviews and became a landmark building, it was clear that my standard had been accepted—and in a big way.

  I had also been advised to put up beautiful paintings in the lobby of Trump Tower. To me, this seemed old-fashioned and unoriginal, even though I like beautiful art. I decided to put up a waterfall, which to me is like a sculpture in itself, and it has attracted far more attention than if I’d put up paintings. It’s over eighty feet high and cost $2 million to build. It’s absolutely spectacular and I’ve never regretted my choice. Once again I was setting my own standard.

  When I decided to rebuild Wollman Rink in Central Park, I did so with my own ethics in mind. Do the best job as quickly as possible for the least amount of money. The city had been trying for seven years to rebuild and restore this beautiful skating rink, and I finally interceded and finished it in three months and at less than 10 percent of the City’s $21 million cost. Everyone benefited. Those are my standards, and I met them. I have my father’s four-step formula to thank for my economy when doing a job: Get in, get it done, get it done right, and get out.

  A question I would ask you to ask yourself to give you a jump start in thinking big is this: What is your creative capital? What do you have to offer? What have you acquired in your experience and in your studies that makes you valuable? Are you aware of your own potential? Will you be equipped to make a difference when the time comes for you to step forward? Start thinking along those lines and your worth will have already been multiplied.

  A few years ago, probably in 2005, I received a phone call from Coach Mike Leach (who was fired unfairly from Texas Tech in December 2009), calling to say how much he liked my books because they were inspirational. I follow college football, so I knew he was the coach for Texas Tech, and a great one. We had a conversation and I realized we shared a few things in common as far as motivation and positive focus go. Since then I’ve appeared on ESPN for his team and he’s appeared on 60 Minutes. I mention him because there are some good reasons why Coach Leach is in the big leagues as far as great coaches go—he knows how to get the best from his players, he has an open mind, and he knows that being a coach means being able to teach others to think in new directions. That means their performance will be altered as well. Coach Leach knows what he’s doing and how to do it, and he recognizes and develops the potential in other people. He’s a great guy in addition to being a success.

  Maybe you don’t have a coach in your life, but if you set your own standards, acknowledge your own value, and remain positive from the inside out, you will be heading in the right direction for a very promising future.

  Intuition is perception via the unconscious.

  —CARL JUNG

  Go with Your Gut

  We’ve all heard of instincts, intuition, and perception. In fact, all of us have these things. The important thing is to know how to use them. You may have superb academic credentials, but without using your instincts you might have a hard time getting to—and staying at—the top.

  This is one
of those gray areas that remain an enigma even to those who have finely honed business skills. It’s hard to pin down or to explain how business instincts are acquired. Some of them are inexplicable. But there are signs that can guide you to or away from certain deals and certain people.

  For example, within a few seconds of meeting Mark Burnett, the creator of The Apprentice, I knew he was 100 percent solid, both as a person and as a professional. On the other hand, I’ve met people that I have an aversion to for no particular reason, and while I try not to be judgmental, I have reason by now to trust my gut. Carl Jung said our conscious minds use only 5 percent of our brain power for daily functioning. If we can learn to tap into that unconscious, subconscious, and dormant 95 percent, the results can be amazing. Sometimes I think that’s what helps our perceptive abilities come to our aid.

  It’s also a matter of tuning in. Ever notice how when we are in a situation that produces heightened alertness, whether it’s a survival course or trying to pass an important exam, how careful we are in our responses? Suddenly, everything we say or do matters a lot. That’s one way to notice how our instincts are there for us. Logic may say one thing, instincts may say another. Ideally, you should hone the best of both to make the best decisions.

  I remember when I was acquiring 40 Wall Street, and literally every person I met with recommended that it be turned into residential units. I didn’t agree. My gut instincts told me it was a great business location. I remained steadfast in my beliefs and the building now houses businesses that are thriving. It’s been a lucrative deal for everyone, and 40 Wall Street is now worth in excess of $500 million.

  When I was first starting out with my golf courses, my instincts told me it was a good direction to go. Logically, I knew that I had a passion for golf already, which is a crucial element for success, and that if I combined that with knowledge of the process, I’d have my bases covered. I found the best golf course designers in the world and spent many hours working with them. The results have been tremendous. I paired both instinct and logic to get these results.

  Just as you would weigh your decisions carefully, be alert to your instincts and what they are trying to tell you. Spend some time with this innate aspect of yourself. See handling your instincts as an acquired skill—they can give you an edge in many situations, business or otherwise. There are a lot of things we can’t see or hear, and our instincts are there to guide us. For example, if you were in the jungle, which would you prefer, a map or a guide? I know I’d feel more comfortable with a guide. A guide has experience and is right there beside you.Your instincts are within you, so use them accordingly.

  Be sincere; be brief; be seated.

  —FRANKLIN D. ROOSEVELT

  Know Your Audience

  A big key to winning is knowing where the other side is coming from. Whether you are involved in negotiations, a war, or in public speaking, this information can be invaluable. It’s also necessary if you hope to connect in any way with other people. And in keeping with FDR’s public speaking advice, getting to the point is greatly appreciated by everyone.

  A great portion of life and business involves acting. Life is a performance art, no matter what field you are in. I’ve come to understand that fact over the years, and it’s a helpful thing to realize. It includes people skills, negotiation skills, public relations, salesmanship, and the ability to read your audience, whether that audience is four people in your office or forty thousand at a speech. The same technique applies.

  First of all, consider this: Is there a common denominator between you? Sometimes, even the weather can be a good starting point. Inclement or severe weather can affect all of us, whether we are billionaires or college students. That’s an obvious one. Others take more time to determine. I can remember negotiating with someone I didn’t like very much, which put up an invisible wall between us, until I discovered he was an avid golfer like myself. We suddenly had something to talk about that we both enjoyed, and proceedings went better after that.

  I’ve heard many stories of how people end up with terrific jobs, not because of their college grades, but because of their hobbies and endeavors outside of their field. Granted, they had the credentials, but so do a lot of people. The people in charge of hiring were looking for something else, something extra—a common denominator aside from the obvious requirements. I know a young lawyer who was hired by a top law firm because in addition to doing well in law school, he also had a master’s degree in music. This mattered because the partner doing the hiring happened to be a musicologist in his private time, and he was aware of the amount of discipline a degree in music requires. But it would also provide them with a mutual interest outside the usual legal environment that would enhance their daily routine.

  Comedians know how to plug into their audience. The best public speakers know how to do that, too. Step number one is to know who your audience is. In my book How to Get Rich, I mention the common denominator as a way to relate to people. Ask yourself, what do we all have in common? I may be a billionaire, but I get stuck in traffic jams, too. I have bad days just like everyone else. Realize that a lot of your experiences can be understood and appreciated by your audience because they’ve had them, too. Make an effort to find what you have in common and lead with it. You will create a bond that didn’t exist before if you will take the time to think about it.

  I recently spoke to an audience of about 40,000 people. Afterwards, a member of my staff asked me if I ever got nervous. I said that I had finally realized that a large part of life was acting, and public speaking was just a part of that. I also thought about the people who would be in the audience instead of my own performance. That perspective frees you up from nervousness to allow you to focus on and know your audience.

  Save yourself from some unnecessary learning experiences and realize that life is a performance art. Understand that as a performer, you have a responsibility to your audience to perform to the best of your ability. You also have to have the goods to hold your audience, no matter what the size may be. Performers prepare for every performance. That’s showmanship, and that’s life. Prepare yourself every day. Learn, know, and show. It’s a proven formula. Put it to use starting today.

  2009 will not be the Endless Summer—but it may be the beginning of Spring.

  —THOMAS J. BARRACK, JR.

  The Good, the Bad, and the Rogue Wave

  My friend Tom Barrack of Colony Capital is a brilliant guy, and he sent me an article he wrote in late November of 2008 with the headline: “Today’s Debt is Equity Plus a Few Suggestions to Help President-Elect Obama Ease the Pain.” He bullet-pointed the latest events pertaining to the economy—twenty-two of them—and I realized that at any other time, just a few of these would be huge topics in themselves. It’s a good indication of how alert we need to be.

  His CliffsNotes summary: “Real estate is experiencing a seismic liquidity shock as a result of a complete closure of the credit and capital markets for both debt and equity. CRE (commercial real estate) and the debt which fueled its growth are in a massive meltdown.”

  Then he adds: “And just when we thought that all of the unpredictables had passed—a tribe of African pirates in speed boats hijack a Saudi tanker for ransom—a satirical headline read: ‘Somali Pirates in Discussions to Acquire Citigroup.’”

  All this and pirates, too. Somehow it helps to know the world hasn’t changed all that much if pirates are still out there doing their thing. That’s one take on it. The other take is that vigilance is certainly necessary in every walk or strait of life—which brings me to the topic of Bernard Madoff and his scheme that came to our attention in December of 2008.

  I can remember when Bernard Madoff would approach me in Palm Beach, Florida, about investing some money with him. He’d say “Why don’t you invest in my fund?” I didn’t know much about him and I’m not a fund guy so I said no. I had enough going on in my own businesses that I didn’t need to be associated or involved with his. Madoff was a frequ
ent visitor at my Mar-a-Lago Club, and he was a respected guy.

  I know people who have been victims of his unscrupulous scheme and what’s happened to them is dreadful. He is without a doubt a sleazebag and a scoundrel without par. The sad thing is that so many people trusted him and unfortunately some of them trusted him completely. Some people gave 100 percent of their money to this guy, and now they’re literally selling their houses in order to live. It’s a great lesson in doing your due diligence. Some very smart people were taken in by him. Just because someone is well established doesn’t mean they’re not above being a total crook. He was a Svengali for rich people and he could wipe out hundreds of millions of dollars after just one phone call.

  Even the people in his own organization supposedly didn’t know about it, nor did his sons, he claims. He had several floors in a major office building. How could one man be manipulating that much money without at least some of the people knowing about it? The word here is greed. He certainly “made off” with some big bucks.

  I know people are stunned by their losses and rightly so. I think we would all do well to pay heed to all of our transactions no matter how much we might respect or like someone. But the main lesson is never to invest 100 percent of your money with one person or in one entity. Even if someone or something is great, you can’t bet the ranch on it, especially a person—they can become dishonest or they can become sick. In Madoff’s case I think it was a combination of both. But you’ve got to spread your money around with numerous people, or at least three or four.You can’t have your well-being determined by one person. My CliffsNotes summary: There are no guarantees but there are precautions. Do not let your guard down. Focus on the positives—but don’t forget about the pirates.