How would Donald Trump collect a past due invoice?
Click above to hear sample of Mr. Trump’s collection call
Some people make a name for themselves and others make themselves a name. Donald Trump has been on a mission for quite a few years with his name and although ‘not politically incorrect’ may not begin to accurately describe his approach and comments and even though his best friends and family might like to wrest twitter use away from him, nobody can argue that he has not put the name of Trump front and foremost at every level of reporting and news in North America and beyond.
When working at the Trump Tower in earlier years, his first task of the day was to review all news reports that mentioned the Trump name. Some people claim that Donald Trump is not consistent. If putting the name Trump on hotels, towers and people’s lips has been his mission, he has been consistent and very effective.
There have been numerous reports about Donald Trump and his habits and philosophy of paying his bills. If the reports are to be believed, there are many businesses, particularly in the small and medium range, who report delays and then often, not being paid in full. Some reports call it, “The Trump Discount”. What does Mr. Trump say? He will tell you that an aggressive style is necessary for success and as far as non or delayed payment, he does not apologize. “If they do not finish or do a good job, I will deduct from their contract.”
However, all of those reports concern accounts payable, an area I sometimes refer to as ‘the dark side’. This chapter and the book deals with how Donald Trump, and others, would handle a situation when they are owed money. It isn’t as though Donald Trump has no experience in accounts receivable. When collecting rents for apartments back in the early years of business, he said it was a good idea to stand to the side of the door after you knocked, just in case the tenant would toss some hot water when they open the door.
Most of the time, when I teach collection techniques, I recommend that it is best to keep it professional and not take it personally. Most of the time. All of us might prefer a win/win in negotiations and collections.
Donald Trump, I believe, considers it a greater success the more he wins. Trump would consider non or delayed payment to him as an intention to do harm and he takes great pride in being a counter puncher. He would take steps to collect in full…and more. You might expect a single call and then it would be in the hands of his attorneys. Another reputation for Donald Trump is being litigious. The lawyers, his and probably yours, will make money. Maybe a lot.
Getting even is one thing, but I believe he would go beyond. He would want you or anyone else who owed him money to think very long and hard before you did not pay as agreed in the future. After all, ‘you started it’, by not paying him on time in the first place.
Click here to find out more about how Confucius, Lincoln, St. Paul, Nelson Mandela and many others might collect on a past due invoice.