As we near the final episode of The Apprentice, even The Donald is having a hard time deciding who must go. Let’s face it, if you’ve survived the first 12 weeks under the Master’s direction, then you have already impressed him. But in TrumpLand there can only be one winner. This week the team of three, lead by Troy, lost to the duo of Nick and Amy proving there isn’t power in numbers. Nick and Amy were rewarded with a flight on Trump’s personal jet to Palm Beach, Florida for lunch at his magnificent home, Maro Lago along with Amy’s sister and Nick’s dad. In the Board room, Donald, like us, has grown to like his group of finalists. He was faced with firing Kwame, the Harvard grad with polished business skills, or Troy, the high-school grad full of basic instinct. After a brief review with his own associates, Trump decided that Troy was a loose cannon who could not be trusted to run one of his companies. Troy got the Trump-A-Dump and went to the street. Kwame, with a big smile, was sent back up to the suite.
Episode Update:
This week, the task had less moving parts but one hefty price. The assignment was to rent out the empty penthouse on the 90th floor of the Trump World Tower for a one-time event. The going rate for this space was $20,000 to $40,000. Both teams contacted event planners and scheduled appointments. Troy, Kwame and Bill had two parties competing and negotiated with Bill as the “pitcher” and Troy as the “closer.” The style worked because they got a signed lease. What they didn’t get was the going rate. Troy’s team asked for $35,001 which was less than what the rival team brought in. Nick and Amy’s style was not to “sell” the space they just “showed” it. And, instead of negotiating on the price they presented the price and got $40,800. The winning team understood that all serious bidders were much more interested in the value of the room and not the price.
Lesson One:
Troy’s team didn’t get it. They weren’t renting out a party room - they were offering a once-in-a-lifetime experience to someone who was very lucky. They bartered over the fee using a “nickel and dime”approach. Their sales behavior was not commensurate with the product they were presenting. Advice: The value was in the exclusivity and the experience not in the final cost. Just like Trump does with everything bearing his name, you must embrace your products, love and cherish them and that attitude will drive the deal.
Lesson Two:
Everyone knows that when an artist sells a painting for $300,000 his next masterpiece is sold for more, not less. So if the penthouse had secured $40,000 for a one-time rental, why would Troy decide to ask for less? Their market correction proved to be their team mistake. Nick and Amy asked for above the last highest price and they got it. Advice: Bidding wars are about bidding higher and not lower. In Trump-land like any profitable business, it’s all about the money. Asking to be paid less than your worth is telling and clearly it told Donald that you wouldn’t be right for him.
Lesson Three:
In the Boardroom, Troy was there because he was project manager but instead of bringing Bill, he brought his “best friend” Kwame. When questioned, Troy said he was ready to rumble with his buddy from Wall Street. This surprised Donald because loyalty is a characteristic he values. Advice: When you’ve failed to reach your professional goals it is important to hold your personal ones. Ethics, integrity, commitment and loyalty will be how you are measured when the profits come up short.
Value, branding, loyalty and, once again, common sense played a role in the lessons we learned. As we get down to the wire, the goodbyes for Donald are getting harder but still to come, next week we are scheduled for a double dump when two candidates get whacked. Stay tuned.
Jay Whitehead is a leading workforce analyst and advisor for employees and employers. He can be reached at jwhitehead@outsourcingtoday.com. On April 14, come meet Jay Whitehead and the nations leading business executives when they speak, debate and exhibit at the HRO World Conference & Expo at the New York Hilton. Register for the event at www.hroworld.com.
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