The Real Trump Deal. Martin E. Latz
given this dynamic. And when you add the nature of politics to this equation, parties’ words can become even less credible.
Objective Facts Matter
Since we are at risk of living in a “post-truth” world, with anonymous individuals trolling the internet spawning lies and false narratives, it’s paramount to scrupulously document every source, element and method utilized in this book. Credibility is essential to accurate analysis. Support here is identified in Endnotes.
Regarding the facts, this book is an analysis of Trump’s negotiation behavior based on facts derived from:
Trump’s books, interviews, speeches, debates, etc., over his almost 50 years of negotiating;
Books, articles and comments by Trump’s colleagues and supporters—and counterparts—from his personal, business, and political lives;
Articles and reports on Trump by a wide variety of media; and
Extensively researched independent biographies of Trump, several of which were published by award-winning journalists prior to his becoming a polarizing political figure.
Collectively, the factual basis for the analysis in this book is thus based on:
Hundreds of hours of interviews of Trump—who has been uniquely accessible to journalists for almost 50 years;
An incalculable number of hours of interviews and documents and legal transcripts of those who negotiated with and against Trump; and
Thousands of pages of books and other documents, some original, relating to Trump and his negotiations.
This book is not based on any personal interviews of Trump and his counterparts. This proved unnecessary due to: 1) the extensive public record on Trump by such a wide variety of sources, and 2) the consistent nature of the independent research and reporting on Trump’s negotiation strategies.
Negotiation Success Is Not Just About the Money
“Hold on,” you might say. “Donald Trump has made billions, owns his own Boeing 757, has his name atop towers around the world, was elected President of the United States, and has been negotiating almost since birth. And you agree negotiation has been a fundamental part of every element of his career. Doesn’t that prove he’s a great negotiator?”
No. Just getting a deal done—and even profiting greatly from it—doesn’t mean you negotiated a great deal. Nor does it mean you’re a great negotiator. Even if you have substantially overpaid for some commercial real estate, paying well over market value, you can still profit greatly from a strong real-estate market going forward.
Monetary success is only one measure of negotiation ability.
The Harvard Program on Negotiation—the premier negotiation research-based organization that houses some of the most brilliant academics in the world—presents an annual award recognizing an outstanding negotiator in the field. Past recipients of the “Great Negotiator Award” include George Mitchell (who helped negotiate the Good Friday Accords in Northern Ireland), Richard Holbrooke (who helped negotiate the Dayton Peace Accords), and Stuart Eizenstat (who facilitated the award of $8 billion in reparations from multiple European governments, banks, and companies to victims of World War II).
None of these highly effective negotiators recognized by independent experts are worth billions. Monetary success, while a measure of negotiation effectiveness in business, is not the sole criterion underlying negotiation skills and abilities.
The Experience and Expertise Supporting this Analysis
I have devoted the last 24 years to studying, teaching, writing, and consulting in negotiation in the U.S. and around the world. I also am the founder and CEO of a negotiation e-learning software company, which I started 10 years ago. My two kids and wife also test my negotiation skills daily!
Prior to entering this field fulltime, I practiced law and worked for the White House on the White House Advance Teams. Politically, I have supported Democrats and Republicans at the state and federal levels. I also watched and enjoyed Donald Trump in all The Apprentice shows.
Though some will certainly be tempted to ascertain if I have a bias for or against Donald Trump, I strongly encourage readers to keep an open mind. Everyone should use critical thinking and analytical skills to evaluate this effort. Though we can’t yet determine how history will judge President Trump as a politician, his negotiation skills have been on open display for almost half a century. We should learn from them—not only to understand the present, but to prepare for the Trump years ahead.
One final note: Predicting Trump has been notoriously difficult. Few have been prescient. I am confident, however, that history provides the best clues and evidence regarding the future. Applying this logic, a science-based analysis of Trump’s past negotiation strategies and behavior will provide great insight into what he will do in the future.
In fact, nothing may have a more direct impact on the safety, security and prosperity of the world than Donald Trump’s negotiation skills.
With these parameters in mind, the rest of the book is organized into three parts.
Part 1—Donald Trump’s Top 10 Business Negotiation Strategies
Part 2—Trump’s Personal Skills and Ethics
Part 3—The Trump Transition: Business to Presidential Negotiations
Donald Trump’s Top 10 Business Negotiation Strategies
President Donald Trump could be the poster boy for the classic extremely competitive negotiator schooled on the streets of New York City’s rough and tumble real-estate world. What does this mean strategy-wise?
In this part, we will analyze how Trump has consistently implemented our science-based strategic framework—my Five Golden Rules of Negotiation—in his almost 50 years of negotiating business deals.
We will do it by identifying and evaluating Trump’s Top Ten Business Negotiation Strategies in Chapters 1 through 10.
The Five Golden Rules of Negotiation
1 Information Is Power—So Get It!
2 Maximize Your Leverage
3 Employ “Fair” Objective Criteria
4 Design an Offer-Concession Strategy
5 Control the Agenda
Trump’s Personal Skills and Ethics
What you do in a negotiation—the moves you make—differ from how you do it—the way you implement them. Negotiation strategies (part one) differ from skills (part two). Of course, these interrelate. You cannot draw a bright line between them. But they do represent distinct elements of a person’s negotiation approach. We thus address them separately.
Style-wise, the research points to certain identifiable skills that characterize effective negotiators, including assertiveness, empathy, flexibility, ethicality, and social intuition.
How does Trump stack up?
What about Trump’s ethics? Few issues engender more passion than Trump’s truthfulness and credibility. Trump lovers point to his blunt, unvarnished, non-PC talk.
Trump haters point to his effort to delegitimize President Barack Obama with the birther conspiracy and his false and unsupported campaign and presidential statements reported by publications like The Washington Post and The New York Times.
How will we evaluate Trump’s credibility? By identifying his credibility-related tactics and assessing his reputation developed over almost 50 years of deal-making.