"A Deal is a Deal: once you make a deal with someone, it's really important to carry it through. If you start developing the wrong reputation, it makes it impossible to make future deals. Once you shake hands, that should be it." - Donald J. Trump

In this episode, we explore the ethical dilemmas faced by participants in The Apprentice, focusing on the importance of reliability, reputation, and ethical boundaries in business. Trump emphasizes that one's word should be their bond and that maintaining goodwill is crucial for future opportunities. The discussion also highlights the strategic management of tasks.

"Leverage: don't make deals without it." - Donald J. Trump

"I ask and I ask and I ask, until I begin to get a gut feeling about something.

And that's when I make a decision." - Donald J. Trump

Maximize Your Options: "Once I've made a deal, I always come up with at least a half dozen approaches to making it work, because anything can happen, even to the best laid plans." - Donald J. Trump

Apprentice Lesson #3:

"The Art of the Deal:

Negotiation is a very, very delicate art.

Sometimes you have to be tough.

Sometimes you have to be sweet as pie.

You never know, it depends on who you're dealing with.

I've always said that negotiation is not really learned, it's almost innate, it's in the genes.

A negotiator is born." - Donald J. Trump

Protect the Downside and the Upside Will Take Care of Itself

"might as well think big"

"one of keys to thinking big is total focus"

key elements: Intelligence, Instincts, Courage, and Good Fortune

Don't negotiate with underlings

"it's very simple, deal with the boss wherever possible" - Donald J. Trump

episode lessons:

• speak with the boss directly
• think outside the box
• sound marketing and communications strategies are important toolkits in any endeavor
• set your sights high; visualize success
• reward loyalty; read another way, do not let down people who are loyal to you!

"The men's team, Versacorp, compete with the women's team, Protégé Corporation, on a more advanced business project this week. They are to produce a print ad, TV commercial, proposal and media plan for Marquis Jet, luxury business travel."

• approach to media: criticism can go both ways
• approach to getting what he wants in negotiations: reads the room, understands other party’s drive and motivations, proposes a relatively good deal, is willing to walk away, balances patience with persistence; comes back to it with different offers as market conditions evolve
• approach to costs: lavish for personal space, very careful and cost-conscious in professional settings