LESSON 39….. THE STORY OF PRICING AND RELATIONSHIPS

THE TRUMP CHAIR

 

WORDS

TRUMP: MR TRUMP is a world-renowned promoter and business man from New York.

PROMOTER: 1. A person or thing that promotes, furthers, or encourages. 2. A person who initiates or takes part in the organizing of a company, development of a project; somebody who raises money for a financial or commercial undertaking.

 

LESSON 39

Many years ago, Robert K asked if I would like to attend a meeting with Mr Trump in his New York office. Naturally, I said, “Yes, I would love the experience”. Being Robert, he used the opportunity for a lesson to “ME” and a life experience that would add value to my business life.

Robert K.: SSD…… if you are coming with “ME” to that meeting, you must dress for the meeting.

SSD: What do you mean? I always wear clothes where I go.

Robert K.: That is true….. you do and they are cheap and nasty. We are about to meet one of the top business people in the world. A power-house amongst men! You must dress for the meeting.

SSD: What do you want?

Robert K.: Buy a great suit, tie, and shoes…… spend the MONEY! If you don’t, I will go shopping with you!!!

SSD: Okay……. I will do what it takes to be at the meeting.

Anyone who knows Robert K. knows that he is a man who holds people accountable to the words they use. I knew that the meeting was about to be very expensive. I was guessing about R10,000. I’m thinking to myself….. this is not a decision I want to make on my own. I’d better ask my wife Vuyi.

SSD: Vuyi ,Robert K. has offered “ME” an opportunity to meet Mr Donald Trump on 1 condition.

Vuyi: What is that condition?

SSD: I buy a complete outfit that make me look worthy to be at the meeting with a room full of powerful business people. I’m thinking the total cost would be about…….R 10 K.

Vuyi: Okay, what are you waiting for? This sounds like an opportunity for a life experience that “MONEY” can’t really buy. Only R10 K? Let’s go shopping…. I support the experience.

With Vuyi, it really is a matter of supporting by knowing the details. Like the great life partner that she is………. support is always there.

I spent the “MONEY”, not really feeling okay about the “MONEY” spent. The life experience was worth any amount of “MONEY” that I had. I got so many lessons and so much experience that all I can say is, “Thank you Robert and Donald”.

One of the many lessons is about the chair….. I include a picture for this lesson. The picture was taken in Mr Trump’s office at Trump Tower, New York.

The story starts with Robert K and his team who were to meet Mr Trump…. there were 7 of us plus Mr Trump’s lawyer and personal assistant.

Mr Trump: Robert ….you brought a big team! We will need to get more chairs. (Mr Trumps directs his staff to bring in more chairs). Bring in a couple of the new chairs I had made for the new ballroom for the golf club in California.

The chairs are brought in.

Mr Trump: Robert…… what do you think of the chairs?

Robert K.: Mr Trump, they look like great chairs to me.

Mr Trump: Let me tell you a story about these chairs. I just built a new golf course in California and it has a big ball room. I want to have a big grand opening in the ball room. We didn’t have any suitable chairs for the opening and we were on a very short time frame. My project manager phoned me and said, “Donald, we are going to have to postpone the grand opening”.

Anyone who knows D. Trump knows that this is not a phone call you want to make. Mr Trump’s number 1 lesson is…… never lose momentum…. delay is not in his thinking.

Mr Trump: Robert….. I told him to leave it to “ME”! Not only was the timeframe not what I wanted…. the chairs were way over-priced (R 1 375.00 each). I have a mate in Florida who manufactures furniture. I get him on the phone. I tell him I have a problem and want him to help “ME” solve the problem. My mate’s response…. “I’m all ears and ready to support you best I can”.

Mr Trump: I need to have 400 chairs made for a grand opening at my new golf club in California.

Manufacturer and friend:  How can I help?

Mr Trump: Can you give me a price to build the chairs?

Manufacturer and friend: When do you need to have the price?

Mr Trump: Now, whilst we are on the phone talking.

Manufacturer and friend: Tell “ME” about the chair you want.

Mr Trump: (Describes the chair on the phone).

Manufacturer and friend: Sounds like we have made similar chairs a few months ago. We can manufacture the chair for about USD R 175.00 and deliver to California for that price if you order the full 400 from my company.

Mr Trump: Sounds great…. Here is the problem. I want them in California in 10 days from this phone call.

Manufacturer and friend: No problem….. they will be there.

 

Robert K.: Did your friend deliver on his promise?

Mr Trump: I don’t know. All I know is we opened on time and we had the chairs at price agreed.

 

Mr Trump’s point was that his relationship was strong and he trusted the manufacturer and his project manager to let him know if the contract for the chairs was not met. The reason Mr Trump is a billionaire is he has great people around him to make sure it all happens according to agreements set. Mr Trump’s mind was on making sure the Trump Empire was growing with speed and momentum.

Mr Trump: Robert! What is the difference in these chairs?

Robert K.: (Was pondering the question)

Mr Trump: They are better! Not only did they cost less …..!The frame is a better frame. The chairs in 10 years can be refurbished to make the chairs look new.

 

For “ME”, this was the best business story I have ever heard and been able to experience firsthand. I would pay R 10,000 just to hear this story. The story had so much value for “ME”. I started by wondering why I would pay R10 K to meet Mr Trump? After that story, I knew I was in the right place for some great lessons. That was the first 5 minutes of a 1 hour meeting that turned into 2 hours worth of meetings. One hour on the first day and a second meeting the next day. More stories for another lesson. Next week, I will break down the story and why it so important to understand as a business owner.

Until then, go out and take some risks to get your own life experiences.

 

SABEF Struggledork OUT!!!