The author of The Art of the Deal tells how he rebounded from the verge of bankruptcy in 1990 to regain his status as New York's most prominent businessman, revealing his successful real estate and investment strategies. 250,000 first printing. Tour.
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Donald J. Trump is president and chief executive officer of the Trump Organization. He lives in New York City. He is the author of two previous bestselling books, Trump: The Art of the Deal and Trump: Surviving at the Top.
The co-author Kate Bohner, began her career in the mergers and acquisitions department at Lazard Freres after studying business and international studies at the University of Pennsylvania. She is a graduate of the Columbia University Journalism School where she received a Reader's Digest Literary Foundation Fellowship. She wrote for Forbes for three years and is currently a correspondent fro CNBC.
TRUMP'S TOP TEN COMEBACK TIPS
1. PLAY GOLF
It helped me relax and concentrate. It took my mind off my problems; I only thought about putting the ball in the hole. And, the irony is, I made lots of money on the golf course--making contacts and deals and coming up with ideas.
2. STAY FOCUSED
I am convinced that if I had maintained the same work ethic I had during the 1970s and most of the 1980s, there would have been no recession for me. I wasn't focused and really thought that life and success just came hand in hand. I thought I was better than the rest. When I began to relax and take it a little--or perhaps a lot--easier things got began to fall apart.
3. BE PARANOID
I have noticed over the years that people who are guarded or, to put it more coldly, slightly paranoid, end up being the most successful. Let some paranoia reign! You've got to realize that you have something other people want. Don't let them take it away.
4. BE PASSIONATE
This is a key ingredient to success and coming back. If you don't have passion about who you are, about what you are trying to be, about where you are going, you might as well close this book right now and give up. Go get a job and relax, because you have no chance of making it. Passion is the essence to life and certainly the essence of success.
5. GO AGAINST THE TIDE
When I decided to keep 40 Wall Street as an office building, everyone in lower Manhattan was converting their buildings to residential space--and with good reason. The apartment market is hot as a pistol. I decided to head in the exact opposite direction, and now I am signing up tenants at rents far higher than anything I expected.
6. GO WITH YOUR GUT
Some of the greatest investors I have ever known invest by instinct, rather than research, study, or hard work. If you look back over history, this is the way the greatest fortunes have been built. People had ideas that they truly believed in.
7. WORK WITH PEOPLE YOU LIKE
If you go to the office and don't find the energy in the people you are with, it is highly unlikely that you will be energized toward success.
8. BE LUCKY
I hate to put this in the book because it can't be acquired. People who inherit fortunes are lucky; I call them members of the lucky sperm club. But you can help coax luck into your life by working hard and being at the right place at the right time.
9. GET EVEN
During the bad times, I learned who was loyal and who wasn't. I believe in an eye for an eye. A couple of people who betrayed me need my help now, and I am screwing them against the wall! I am doing a number...and I'm having so much fun.
10. ALWAYS HAVE A PRENUPTIAL AGREEMENT
Anyone in a complicated business should be institutionalized if he or she gets married without one. I know firsthand that you can't come back if you're spending all your time fighting for your financial life with a spouse.
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