President Donald Trump has been negotiating to win his entire adult life.
His successful business deals made him a billionaire and worldwide figure with a global brand long before his road to the White House.
As president, Trump continues to use the same methods that brought him financial success. And they’re working!
At times he may seem bold or even outrageous, but his approach often helps him make golden deals.
Trump maintains that negotiating is an art that requires discipline, technique, and even imagination. His advice can bring many people great rewards.
Here are seven of Trump’s best business tips for negotiating to win:
- Don’t show all your cards — “This is a good way to see how much your negotiating partners don’t know,” Trump once wrote in a post for entrepreneurial adviser Evan Carmichael’s website. “Knowledge is power, so keep as much of it to yourself as possible,” the successful negotiator noted.
- Be patient — Trump says he has waited years or even decades for a deal to go through, but “it was worth the wait.” Make sure, however, that the deal really is worth it.
- Know the other side — Good negotiators know their audience. Trump has taken his business skills to his presidency by knowing whom he is speaking to and saying what’s on his mind, points out Sam McRoberts in Entrepreneur. This makes him seem real to gain trust.
- Aim high — Some of Trump’s starting points might seem impossible, but they give him a psychological advantage, McRoberts explains. His first offer determines the direction of the negotiations and even though he is willing to take less, he controls the situation for a better deal.
- Create competition — One of Trump’s business tips for negotiating was revealed in a 2007 interview on CNBC. The future president said he likes to convince people he’s dealing with that there are other people who want the deal. If they think there’s competition, they are willing to make a good deal.
- Do your own research — In Trump’s 1987 bestseller, “The Art of the Deal,” he wrote that he doesn’t trust marketing surveys or “hire a lot of number-crunchers,” according to Inc.com. He prefers doing his own surveys to know the market he is dealing with and reach his own conclusions.
- Fulfill promises — You can make a great promotion, but you can’t con people, Trump stresses. You need to “deliver the goods” when the deal is made or people will no longer trust you in the future.