I’ll never forget the worst moment. It was 3am Citibank phoned me at my home in Trump Tower. They wanted me to come over to their office immediately to negotiate new terms with some of the foreign banks – 3 out of 99 banks to whom I owed billions. … … An ally at Citibank suggested that the best way for me to handle this difficult situation was to call the banks myself, and that’s exactly what they wanted me to do, at 3am on a cold January morning in the freezing rain. There were no cabs, so I walked in the freezing rain. By the time I got there, I was drenched. … That was the low point. There were 30 bankers sitting around a big table.
Maintaining your momentum….
No matter how accomplished you are, no matter how well you think you know your business, you have to remain vigilant about the details of your field. You can’t get by on experience or smarts. … … no matter what you’re managing, don’t assume you can glide by. Momentum is something you have to work at to maintain.
Ask yourself 2 questions…
Learning each day….
Everyday is a reminder to me of how much I don’t know. Everything I learn leads me to something else I didn’t know. Fortunately, I don’t pride myself on being a know-it-all, so everyday becomes a new challenge. People ask me what keeps me going, and this is probably the closest answer to the truth. I I end the day without knowing more than I did when I woke up, it makes me wonder what did I miss out on today? Am I getting lazy? I am a disciplined person, and this thought alone can get me going.
Cover these 11 bases… the art of public speaking…
And more…
Reflect for 3 hours a day…
It made me realize how much I need a certain amount of quiet time – usually about 3 hours a day – in order to stay balanced. It’s the time I use to read and reflect, and I always feel renewed and refreshed by this. It also gives me a material to feed my extroverted nature. … … once I’m home, I read books – usually biographies. Now and then I like to read philosophies - particularly Socrates, who emphasizes that you should follow the convictions of your conscience, which basically means thinking for yourself, a philosophy I tend to agree with.
4 qualities I’m looking for in an apprentice…
The winners…
Stay with the winners. Often, you will read about somebody who has made money quickly and then relies on one of his friends to invest his fortune. … … Beware of instant stars in the world of finance. Trust people who do it again and again, who are consistently ranked high by the 4 best institutional business media outlets. But trust your own common sense first.
Know exactly what you want and keep it to yourself…
If you’re careful about what you reveal, you’ll have more flexibility as you gather more information about the contours of the deal. … know what you want, bottom line, but keep it to yourself until a strategically necessary moment. Once all of the issues are on the table, you’ll have a better approach to navigating your way to your desired solution.
Sometimes you have to hold a grudge… Trump is really such a blunt and frank guy…
I did the only thing that felt right for me. I began screaming, “you son of a bitch! For years I’ve helped you and never asked for a thing… … … You can go to hell.” My screaming was so loud that 2 or 3 people came in from the adjoining offices and asked who I was screaming at. I told them it was Mario Cuomo, a total stiff, a lousy governor, and a disloyal former friend. Now whenever I see Mario at dinner, I refuse to acknowledge him, talk to him, or even look at him. I will say this however. Mario’s wife is a fine woman and was a terrific friend to my mother. It’s not her fault that her husband is a loser.
Meetings…
Our meetings are relatively brief… They are rarely more than 2 hours. My team knows the value of time and exactly how not to waste it. People often comment on the brevity of my meetings, but if everyone knows what they are doing, they don’t need to belong or long-winded. Fortunately, I have experienced people on my teams, and they know how I operate, so they get to the point and quickly.
Busy weekend…
Last year I took a transatlantic weekend business trip that included breakfast in London with Mohamed Al Fayed and dinner in Slovenia with Melania’s parents before flying back to New York. We were back in time for me to be in the office by 9am Monday.