The US election has taught quite a few lessons but one of the main messages is that no one should ever have underestimated Donald Trump. Despite what you think of him or the tactics he used, he knew exactly what he was doing. That’s why perhaps it’s time to take a look back at one of his earlier works, the art of the deal. In the right hands, Trump claimed that this book gave people the ability to succeed in business from scratch. Essentially by learning the lessons he imparted you would be able to make your own company a success. Just what are these lessons? We’re so glad you asked.
Go Big Or Go Home
We’re paraphrasing here but one of the key lessons in Trump’s book is to not limit yourself or the possibilities of your business. On the surface, this is good advice for any potential business owner or leader. After all, if you’re not thinking big enough, you’re already limiting what you can achieve before you’ve even started. At the same time, though a lot of businesses fail purely because they soared too close to the sun. After all, by thinking big, you are going to drive your costs sky high, and most small business owners can’t afford that risk. The payoff doesn’t always add up to what you lose to get there. Thus, we’re not sure thinking big is always the best advice for a new business.
Don’t Close Any Doors
If you study business management or get a master degree in organizational leadership they’ll teach you not to take anything off the table when you’re negotiating. It’s one of the ways that you can make yourself a strong leader. That doesn’t mean you’ll bend to any opinion but that you’ll consider everything because you never know where a great idea might come from. It could be in your boardroom or it could be from the manager on the shop floor. The best business owners know this and that’s what Trump was saying. You have to be open to the possibility of changing your plan, even when you’re still determined to reach your original goal.
Leverage Is Key
If you want to win in business you need to have something to bargain with. The good news is that you’re always going to have some kind of leverage in a deal, you just need to understand that you have it. Most business owners don’t and they don’t know how to use it effectively. Look at the strengths of your company and the model you work with. Then, examine the weaknesses and advantages of your opposition. Do this and you should find that your leverage over a competitor is clearer than you think.
Publicity And Press
Trump taught us this lesson during the election campaign. It doesn’t matter what you do as long as the public and the press are paying attention. This man received estimated billions of free press just by being interested enough to make the news. We laughed at his antics but no one is laughing now. On the bright side, it should have showed business owners exactly what they need to do to win the market. Say it loud and say it proud, no matter what your message might be. If you have the interest of the press it doesn’t matter what your message is, people will hear it.
So it seems the Art of the Deal is useful to business owners today. In fact, whether you like it or not Trump has proven he knows how to win and you can use his lessons to gain your own victories.