Your First 100 Million – Dan Pena
Chapter 1: Super-Success
Wealthy–Dream Bigger and expectations are higher. If you has any idea of how to bring it to reality, you’re thinking too small. Set your goals HIGHER.
Desire/motivation gets you started. Practice skills and force of good habits.
Most obstacles are created from fear of defeat, and your programming of conventional wisdom. If everything is running smoothly remember–from chaos comes order.
“Double your failure rate.” – Meaning more tries, initiative, risk taking.
Have the confidence in your judgment to stand by whatever decision you make. Fail for sure—just try and please everybody. “I may be wrong, but I’m never in doubt.”
Never look back… keep your eye on the ball. Be tough.
Chapter 2: The Castle
R.E Land Consultant Co.—Tellem how easy it was to sell civilians on the California dream. “You should sell everybody who comes through the door.” Hell, I didn’t know any better, so I achieved a 94.6% closing rate.
Find an industry in chaos, go in and bring order, emerge with a company that provides leadership … and you’ll make a lot of money!
Starter companies can gain credibility via Joint Venture of a reputable company. Perception is reality.
Bought a Castle and renovated it.
Chapter 3: Conventional Wisdom for Losers
Playing it safe.
Stifles the risk-taking required for bold, creative action. It anesthetizes the mind with mindless platitudes.
‘Real estate’s the best investment. After all, they don’t ~ make any more of it.” “Better safe than sorry.”
Conventional wisdom is almost always wrong! Visionaries have always flown in the face of conventional wisdom.
Common sense is an excuse for mental laziness. We are all too diverse to have sense in common.
Moron or a doofus is anybody whose advice or attitude would limit my success potential. They are everywhere.
“It doesn’t matter what the morons say.”–don’t give a damn if you repeatedly embarrass yourself.
New Habits, New Companions
Making important decisions – is anybody going to die if I decide this? Then make the decision!
Listen to legitimate warnings. Somebody who’s been there, with experience.
Take crazy risk, just not stupid risk.
Dan’s plush, spacious offices gave investors the perception of a large spacious firm.
Dan went public with his oil company and did 50million in the IPO. One could do that today with real estate. (whatever the frenzy is)
note(for fear sections): release the emergency brake…. Whoosh , ur flying!
Keep Your Eye on the Vision – and You Won’t See the Obstacles
You have to keep your sights above the rush and worries of today, and free of the nitpicking details which will be required to realize your vision.
Focus on the exciting, successful future that awaits you, a strange phenomenon occurs. You begin to transport yourself into that future. As you keep your eye on your goal, you assume success. You visualize success as if it were already a reality.
Survey:‘Have you ever day·dreamed about getting your boss’s job? And ‘Have you ever fantasized that you’re going to quit your job one day’ to ‘How oflen have you daydreamed about having Set with a co·worker? ‘…71% of those interviewed had their daydream come true within 12 months! Focus on your vision until it becomes an obsession.
He has already visualized the completed goal (which could be 20 seconds away).
‘A good plan executed right now is better than a perfect plan executed next week ‘.
The name of the game in business is revenue. Lots of revenue.
A High Performer is Passionate!
passionate about their business, obsessed with its rising revenues and rapid growth.
Executives don’t play “not to lose”, They play to win.There’s a big difference.
Jobs was named as Fortune Magazine’sMost Powerful Businessman,
Dan takes particular delight in growing a company by Quantum Leaps, then selling it at the very zenith of its performance for tons of money. I don’t care what kind of company it is as long as I believe from all available evidence that it has the potential to skyrocket in value. At any given time, I may own equity in a textile company, an auditing firm, a real estate organization.
Buying and selling real estate… You better be driven by the relentless fire of hot passion = profit. Buy a lot and build a cabin in Canada, just don’t expect to turn acres of frozen wilderness into a profitable venture.
Give up other pursuits, hobbies and pleasures because your business beckons like a seductress. Wealth in the millions requires a full-time, laser beam-focused commitment.
Super success isn’t for everyone. But is for the very few who are willing to build that foundation, make those sacrifices and create major sea changes in the currents of their thinking.
The Strength of Self-Confidence – and Self Regard
Success feeds on itself-and is insatiable! It transcends any lust you’ve ever had for anything!
You can count on one trusty warrior to lead your charge, watch your back and whack your enemies dead—yourself.
What have you learned? Ignore conventional wisdom because it is almost always wrong, and serves as a crutch to support the weak… to build your personal foundation for super success… to adopt New Rules, which means new habits, new companions… not to treat decisions as life-or-death situations… to focus on the vision, not the details … to be passionate about your business… and to take actions that will raise your own self-confidence and self-regard immediately.
Predict your future success by creating it yourself.
Getting Comfortable with High Performance
My goal set in concrete, my inevitable destination.
Expand Your Comfort Zone
Join a club to hang around successful people. Drive around neighborhoods in my Dodge Charger, where I look at fine houses that one day you will afford. Money gravitates to those who know how to handle it with class.
Being a high performance super success is a learned behavior.
in opponent: You’re face to face and you see his eyes flinch and dart
around in terror, and you say to
yourself, ‘I’ve got this son-of-a-bitch. He’s dead meat.’ In the boardroom, those eyes, those sweating palms, that second of hesitation tell an adversary to go for the kill. This doofus is sitting with us, but he’s not one of us. Rip his lungs out!
Constantly expose yourself to situations that by definition make you uncomfortable.
Clarify Your Vision
Visualize your future, your dream down to the smallest detail. Focus so clearly that the day your vision becomes reality, you experience deja vu.
Reach for more, or slip into idle mode. “See your dreams ahead.”
Laser focus: Sharpen your product mix or your service mix.
Investigate before you invest. Recently he purchased 2 companies to grow his computer networking business, Dicar Networks.
The Five Credos of Success
Every month copy these down in your Day-timer. Good for expanding and maintaining your comfort zone.
1. Yesterday’s dreams are today’s realities. In other words, “Today’s dreams are tomorrow’s realities.” Energizing your imagination and gradually crystallizing into reality.
2. See your dreams ahead of time now. This is a call to action. Dream about a super successful business career filled with sweetheart deals pried from the clutches of morons and their toady lawyers. Dream about a larger home in an exclusive country setting. Dream about a vacation to Tahiti.
3. Simulation: Practice within being super successful R.E Investor, then you’re without.Learn to think and act like the high-performance person you’ll become, so you’ll be ready to act when the doorway of opportunity opens.
Volunteer to help. When you want to work, or want to take on responsibilities in any organization, everyone moves gingerly out of your way so you can do it. ‘You want that job? Be my guest!’
4. Act as if there are no limits to your abilities. Pursue a course of action long after my associates have given up. And every time, I’ve achieved more than I would have if I had just stopped.
‘We at Pro Paint & Drywall created positive occurrences in our minds, and acted as if we had no limits to our abilities!’
5. “Enthusiasm” means “spirit within”. Unlimited Enthusiasm generates the passion, energy and determination that are necessary to succeed.
“Tripled my access to funding, made much bolder choices around growth and helped turn my Drywall team into one of the fastest in the country.”
Mastermind Networks – Synergy or Silliness? Murdock, Branson, Trump, Gates – are loners.
- Your members bring to the group different areas of expertise. For a wider perspective on problems you may be seeking answers to.
- Your members/peers share a similar level of experience. Then are all superstars, or none.
- Your members work in the same general geographic area. Convenience.
- Your members demonstrate a similar commitment. Member too busy? Replace him.
- Your members must exhibit more traits of success than your own peers and contemporaries. Seek out the acknowledged achievers, the “up and comers” in their industries, “firebrands” who are hungry for success, and who have ideas and energy to contribute to the network.
- Exit the group if the growth process falters. If I’m not growing, and it’s ain’t worth it, see ya.
Mentors – A Quantum Leap in Wisdom
Most successful seniors are only too glad to pass along their experience to younger people seeking the road to Success. All it takes is a phone call, an introduction, and maybe an invitation to lunch. Whole experience completely painless.
One extraordinary mental exercise I use in negotiations is to determine the other party’s comfort zone, i.e., what would they accept out ofthis deal in order to become comfortable with its consummation? When I find the perimeters to that zone, I picture it as a box. Inside that box are any numbers of deal possibilities.
1 usually place my offer at the uppermost limit of the other guy’s comfort zone, at the very edge of what I feel he will accept. Jt works every time. He gets what he’s comfortable with. I get what I want!
Important: Jim Newman/PACE taught me: How to expand my own comfort zone, so that I could move ahead rapidly and with solid direction toward my super success.
Dan’s next mentor was in oil. The oil industry was in chaos – my favorite condition in an industry.
Friends are willing to offer, “friendship in trouble…courage in battle, wisdom in rage.”
His presence seems to stand beside me al every negotiating table, and at the point of every hard ecision. Often I ask myself, “What would Costa say?”… “Growl & Just do it.”
Selecting a Mentor
- Choose an individual significantly more successful than you are now – a person who has “been there, done that”
- Seek a senior person you genuinely like and respect.
- Your mentor should have achieved success in the same field of endevaor as your own, although this is not mandatory. Often mentors deal with human relationships, decision making and financial strategies which transcend specific industry problems.
- You and your mentor should share common interests beyond the business milieu. Some of best advice from golf course, tennis, etc. “You can’t be the best if you’re not learning from the best.”
Summation: Get comfortable with super success before you achieve it, by practicing to expand your comfort zone. Clarify your vision by focusing on the details of how that reality will look and feel. Get Clarity: Write down your vision and carry it with you, so it becomes part of your being.
Participate in a mastermind.
Seek out a mentor by picking up the phone.
Building Perception to Become Reality
“Super success begins with your masterful illusion that it already exists.”
Helps create what you’d like for other people to believe, for you to achieve your goals. We live in a brutal world made more tolerable by the illusion of reality.
Illusion is one of the skills of leadership.
Perception is reality in any business. If R.E ain’t pretty, I sold them their own perception of their dream.
‘Look out there. You can see the sails of your boat as the breeze nudges you across the lake. Look over there. You can almost see the fishing dock, and that luxurious clubhouse where you meet your friends for dinner. ‘ – I sold a shit load of desert in those days…
Illusion is the camouflage behind which we pursue our dreams and goals for super success. It is the stage we set. .. the costume we don… the face we present to achieve our objectives. Build the most advantageous perception you can in competitors, etc… all for the accelerating advancement of your company.
You’ve got to continuously pump credibility into the facade that your company represents to the business community… to make it appear as #1 company.. and infinitely nicer to do business with.
Dress well and how they created by their actions, even their facial expressions, an immediate perception of calm, studied, self-assurance, an aura of arrogance regardless of how shallow and superficial they might prove to be.
When dealing with loan-officers… Wear the suit, the attitude, the “eat-your-lunch” eye contact. Send your associate over to handle the financing transactions.
“We’ve avoided the temptation to.fly in jeans and sweatshirts for several reasons, ” says Deann. “First, we never know who among our associates or clients we ‘1/ run into or what potential business contact we ‘/I meet on the plane, especially. Flying first class. But we’ve also discovered that the airline people actually treat us better when we’re better dressed. They’re friendlier, the service is better, and they’re more likely to give us the nod if a first-class upgrade becomes available. “
Attitude and eye contact are among the most important non-verbal signals you can send to create the perception of power. Powerful people use eye movements to dominate and control a conversation. When they speak, for example, high performers look at others squarely in the eye, but then look away when they listen.
Smile when you go into a new interpersonal situation to Make people feel at ease. If I’m walking into the corporate office of an executive with whom I’m negotiating, or some doofus loan officer to talk about money, I don’t want the moron feeling at ease.
My intent is to create an instant perception of myself as a super successful individual who doesn’t need to
impress anybody with flattery. l’m not there to be this guy’s friend or especially his whipping boy. I’m going
to intimidate him in bis own ballpark, so that he has to struggle just to stay on the defensive. He has to earn a smile and a pat on the head from Me, by saying what I wants to hear.
Business cards are not for Super Successful. Instead say,“Have your secretary call my office. They know where to reach me. ” (you’re like a president)
Beyond first impressions, you want consistency of your impression. After all, the multi-dimensional image you mold in the mind of a someone is only a compilation of several smaller meetings and contacts. Every influential face you show must agree with the overall image you wish to create.
Consistency of perception is also vital with your own associates and employees. They need to
know Action A will generally provoke Response A.
Speak softly but forcefully. Or if your counterpart across the negotiating table is expecting a certain tactic, change fields and run another pattern. While consistency is a virtue, certain predictability is boring as hell.
Associating my company with larger companies, builds trust.
Dan’s student was continuously interviewing major accounting firms, investment bankers, etc as he built his Dream team. All the while, he was creating the perception of an established and knowledgeable businessman.
His calls were routed through an answering service that acted as his corporate switchboard. ‘Good morning,
The Diversified Company.’
Great Northern: I knew our business partners, investors and the financial community in general had to see me now as I planned to become in the future, or we wouldn’t even have a future!
Perception enhanced by buying Castle. It became conversation starter and when wall-street realized he didn’t need their help, he got it.
Hire a chauffeur-driven luxury automobile before every Castle viewing appointment. You can imagine how the appearance of such a spectacle gliding onto the grounds would affect the attitude ofa real estate representative. I was warmly welcomed and afforded every courtesy, of course I forced the issue of serious negotiations. In this case, I used perception to cut to the chase of purchasing my dream castle.
When you buy a new luxury car or join an exclusive club as a way to accelerate business success, aren’t you acting as if the perception you desire is already a reality? Of course you are! Might help in getting a loan. Business people want to be associated with you. You become sought out by others with a potential deal. You
spend less time fishing for opportunities because the fish begin jumping into your net. Position yourself where you believe people will perceive you as being successful.
My own perception as a deal maker, of course, became reality. Over the years, I’ve been continuously deluged with plans, schemes and even a few good ideas presented by individuals and corporations looking for
a champion for their venture. They know I’m always looking, and I am a real and serious player!
Creating Your Dream Team
Big4Accounting team: PricewaterhouseCoopers, Oeloitte Touche Tohmatsu, Ernst & Young or KPMG? If you do not live close, you will have to consider the Top 10. Try to have them meet you at a conference room, if not you can meet at their business & be sure to bring a partner.
You may start by interviewing regional accounting firms.
Rules for Keeping a Good Staff – and Keeping Them Happy!
1) Pay your people good money, and they’ll do anything.
2) Never reprimand. After I’ve cooled down enough so I won’t rip their heads off, I invite them in, close the door, and in my gentlest fatherly voice ask them questions about their mistake that almost cost me my castle.
- ‘What was your reasoning behind taking this action?’
- ‘What happened as a result of that action that was not in our best interests?’
- ‘What action would you take next time, given the same circumstances?’
“Next time” tells them you respect their basic judgment and intelligence enough for there to be a next time.”
If employees know they’ll be reprimanded for mistakes, and especially humiliated, they’ll never venture out where they can make mistakes. Bill Gates pays bonuses for making mistakes, to encourage creativity and don’t want them to become apprehensive and timid about making decisions. One big reason why helpers make mistakes is lack of info.
3) Train one or more employees for your job. So you can get more deals, raise more capital, etc.
4) Never make decisions for your employees. Give them the info and let them decide. give them the responsibility and authority to implement their own actions. Give them chances to make mistakes & learn.
How you present new challenges will determine how quickly they learn. You can tellem, you can showem. But if you involve them in the process, they’ll understand, remember and grow.
You want every employee to think of themselves as an independent contractor. Business run by an employee. Every helper can have an area, task that can be in charge of. (foreman, CEO) With that kind of attitude, capable people work smarter and with more pride.
11 Steps That Make the Deal
Get the info and then make decisions quickly and decisively. Some opportunities are gone before you know it.
Decide who to hire as your administrative assistant.
Life is like a balancing scale. You have to balance what you get with what you’re willing to give up. Period!
Step One – Identify the idea. Define and clarify exactly what you want to do, What is the purpose of this IDEA? You and your partner must agree on the strategy, that it’s feasible and will benefit the company. This will create desire to do it.
In many cases, the major benefit of an idea is not so much profit-driven as it is a vehicle to move
you closer to your long-range vision for your company.
Step Two – Investigate Generalities.
100 Investigation is an integral part of a high performance,
Everyone necessary for a final, definitive decision must be present at the meeting – or there is no meeting.
Banks: Look in the phone book. Read the business section of your newspaper. A lot of major metropolitan newspapers publish quarterly a list of banks which are looking for borrowers. Call the business desk of your newspaper and secure a copy of the most recent edition of that report. Ranging further afield, such magazines as Entrepreneur and Inc. periodically publish a state-by-state list of financial institutions that seek to publicize their desire to lend capital. So you shouldn’t necessarily limit your search for financing to your local market or even your state. In fact, I would strongly recommend you go outside your local market, no matter where you are. Of course those banks aggressively using traditional advertising have money to get on the street. Those banks advertising on the Internet also have money to lend.
Keep an active file on banking news that regularly appears in Tire Wall Street Journal, Tire New York Times.
Make a list of large banks down to the small ones. Find out who the managers are of your most likely prospects and who are the lending officers.
Top of your list is newly opened branch office. Why? New banks have no customers.
1. What is your personal lending limit? Secured and unsecured?
2. Who do I have to go to for an approval on the next level of financing?
3. Are you a centralized loan institution that pools loan requests, or a branch-based lender?
4. Is your bank presently in a lending mode, or in a downsizing mode?
Bank will decide on:
• your articulated enthusiasm over your project and its overwhelming chance of success;
• your business plan, prepared, formatted and presented exactly the way they want it;
• your audited financials, prepared by your prestigious accounting firm … and the answers to as
many questions as they can think of.
Rejected? Your response should be, “What element do you feel you’re missing from the proposal equation?
Where do you have a problem?”
Make your banker your partner, your co~conspirator in helping you realize your dream. If you’re prepared, if you’re knowledgeable and professional, and court your banker step by step into what
promises to become a long~term, mutually profitable relationship, it will suddenly seem he’s working for you instead of his employer.
business sectors within which entrepreneurs working
with Dan Pena have been active and at various stages ofconsolidation:
* Residential Homes for elderly.
* Independent Financial Services
* Public Houses and Off-Licenses
* Hair Salons
* Craft shows
* Real estate (property)
*Digital video services
* Mobile home parks
* Publishing companies
* Mental health care
* Coin operated laundries
* Video stores
* Business information services.