How To become a Billionaire
Find a way to change the lives of a billion people and you WILL become a Multi-billionaire.
He’s created in excess of 50 Billion
Dan Peña demographics age 13 to 77
1. You need to have a labor of love/passionate about so that you can put in long hours and not consider it work 100+ hours/week. Practice, practice
2. You gotta make a lot of sacrifices
3. Sleep in your office your first 10 years in business (save time)
4. 85% of your financial success is due to your personality, ability to communicate, negotiate and lead. 15% is due to technical knowledge.
5. It’s not what happens to you, it’s how you handle what happened to you in life that makes a difference.
6. FREE Cashflow covers debt service 20-40% gross margins, why? Because we don’t manage money well.
7. You want people high-energy, enthusiastic & believe in you.
8. Do deals where the money is: healthcare homenurse/BEDPAN business, telecommunications, telco is internet now, cyber security (hot, hot, hot)–hard though to find seller, alternative energy.
9. The KING, finances the deal gets 20% right off the top.
10. Take selling class: maybe Dale Carnegie’s or Wolf of Wallstreet’s (recommended by his mentees)
11. Set high expectations when closing on anything, assuming you’ve got a good product.
12. Be the first one in and the last one out M-sunday & make 300 cold calls.
13. Leverage – OPM.
14. Don’t read books, don’t procrastinate because you’re AFRAID.
15. Two ways to buy a company: Assets and liabilities(debt), or just the assets(bricks and mortar)
16. You have to learn to be alone, better than having monkey friends. You have to learn how to be comfortable being uncomfortable (conditioning–jump in before you start thinking–ACT)
17. You engage is self-sabotaging activities because you think you deserve it… Don’t buy shit at seminars.
18. Hardest part is staying motivated and focused because partner(wife) usually is not. Hang around motivated people or be alone.
19. Kids need consistency and leadership.
20. Strictness is success, sensitivity is poverty. Toughen up, act like you gotta pair.
Find a way to model those who have already succeeded.”
-Whose success clues are you studying?
-Whose model are you duplicating?
Here Are 3 Things To Look For In A Model For Online Success:
1. It should show you how to target a hungry online market.
2. It should reveal to you powerful ways to generate website traffic.
3. It should teach you how to convert prospects into customers.
The poor seek to survive.
The middle class seeks comfort.
The rich seek freedom.
TOP 10 of the Super Successful People Do that Poor People Do Not Do
- Practice Daily affirmations. Articulate wording, picture & feel.
- Measure what you do and Improve (focus on net worth, cash flow, assets)
- Success leaves clues. Get a mentor, if your smart get more than one.
Read the rest yourself at:
- Practice Success, before you are successful. I.e Go to the dealership and sit in the car you want. Self-esteem is the key to high performance. We feel good about ourselves and we hang around our Top 5 people who we are mostly around IS who we turn out to BE.
- Follow what you MOST Love. If you have a top 2 or 3… choose the one you MOST Love. You only get 1 shot at this, this time around. Labor of love, not work. 100 hour weeks …time flies when you’re having fun.
- Surround yourself with great people, who are like minded, better than you, smarter… who will challenge you to become better. You don’t get better hanging around people that are less than you are. Mastermind.
- Perfection = paralysis. You can’t get a strike without swinging at the ball. Get used to mistakes and failures… just part of being in the game. Only way to not fail is to not PLAY. Make changes along the way.
- Focus on the FEW, not too many.
- Believe passionately – most of you lack the skills to sell your vision with CLARITY. You don’t practice & the travesty is that you don’t believe enough in it. Banker wants to know in his heart that you are going to do whatever it takes to pay them back.
- What gets measured, gets accomplished. Keep people accountable. Otherwise you’re just fooling yourself.
- Just Do It. Take a swing, take risk, make sacrifice, make a commitment.
- Be extremely positive–High on Life. Be 100% Positive or risk KILLING deals and even companies. Be more selfish. U cant love somebody or love wat ur doin’ unless u LOVE urself. You want to look in the mirror and in your heart be able to say I LOVE what i see.