ISSUE #1 From Dan Peñ a - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friend and Subscriber !d lie to e#tend you a warm welcome to the first issue of my $uantum %ea& 'd(anta)e* 'd(anta)e* nternet Newsletter+ Newsletter+ From time to time this newsletter newsletter,, in addition to e#&osin) e#&osin) you to well-tested well-tested and &ro(en &rece&ts to mae mae your business business )row, )row, will test your (arious (arious traits and/or abilities abilities to succeed succeed in the real world of trench warfare+ No one in the world world teaches the methodolo)ies methodolo)ies and &rece&ts you you will )et here+ ow do do now that* .ecause e(ery idea comes from my own e#&erience+ ncludin) the thirty years and more than 0,111 business decisions+ More than 011 financial &resentations on fi(e continents+ .illions raised when you couldn!t raise any2 Millions of miles in tra(el and thousands of ni)hts in hotels2 Thousands and thousands of meetin)s2 More than 301,111 business &hone con(ersations2 Countless successes and many, many failures22 "C4N56NT4N'% 7SD4M - 784N9" 'll our li(es we are told by the &undits our )oals are not realistic+ 4ur dreams are too far-fetched+ far-fetched+ 4ur e#&ectations are too hi)h+ 7e are told you ha(e to remember who you are and where you came from+ 7e are &reached to that those "thin)s" are for the "other" &eo&le: you certainly can!t e#&ect that for yourself: whom are you iddin)* ;ou!ll ;ou!ll only disa&&oint yourself+ t will be a bi) letdown+ ;ou ;ou now how you are when you )et disa&&ointed+ say Cra&2 C8'P2 P4P<%'8 C4NS6NS
uiesce to con(entional wisdom and lower your )oals* 4ur li(es are a series of lowered e#&ectations year after year+ 7e )ot &ounded by e(erythin) around us+ ?ust lie our &arents and their &arents+ 7e 7e are &roducts of our social and economic milieu+ 'nd we as oursel(es why wh y there are barrios and )hettos* 8emember, 8emember, you will become whom you han) around with+ 7hat if you were =ud)ed by the &eo&le you surround yourself with* .y your ad(isors, associates, and close friends+ 7hat would &eo&le thin* For)et &eo&le2 7hat do you thin* ow would you =ud)e someone lie yourself* Pretty scary, huh* 7hat a distressin) contrast there is between the radiant, intelli)ent child and the feeble mentality of the a(era)e adult+ @FreudA ACHIEVABLE GOALS - NOT!
Con(entional wisdom says you want to set achie(able )oals+ My life was chan)ed a number of years a)o when heard Ted Turner of Time 7arner/Turner Communications @now '4%/Time 7arnerA fame say "set )oals you cannot accom&lish in your lifetime+" Does that sound lie an achie(able )oal* Does that sound lie a )oal with a set time frame* Doesn!t con(entional wisdom say "you must set a time limit for your )oal*" .+S+2 The &undits tell you that a set time frame will act as a benchmar+ 'ctually it acts as the o&&osite+ t!s t!s really a ceilin)+ ow many times ha(e we seen someone )i(e se(en days, a month, or si#ty days to do somethin)* 7hat ha&&ens ha&&ens** t taes e#actly that lon) to accom&lish the act+ Doesn!t it* nstead we should say - as fast as humanly &ossible2 7hat 7hat ha&&ens when when you!re told " need it now*" t t )ets done now2
;ou see, all su&er hi)h &erformance &eo&le )o a)ainst con(entional wisdom+ Turner, acocca, Ford, Dell, 6dison, 9ates, ?obs, Tom 7atson, Perot, Fred Smith, Bni)ht, .eoes, and &robably any su&erstar you now all subscribe to do what others felt was wron)+ 'nd in e(ery case, &robably somethin) that was not considered achie(able+ n other words, the (ery o&&osite of con(entional wisdom+ That same con(entional wisdom that is &reached in our schools+ 'nd 'nd we wonder why we!re not more successful2 7hy our children are not hi)h achie(ers2 7e wonder why ids are so ill-&re&ared for life2 7e wonder why there are so many dufuses2 @!ll write a )reat deal about dufuses in future issuesA+ 7ouldn!t you lie to ha(e some chances bac a)ain* The thin)s you didn!t do+ 'nd you say you can!t+ 7hy* .ecause of your res&onsibilities, family, ids, etc+ .ecause others say so* .ecause time has &assed you by* .ecause you are too old now* .ecause you don!t ha(e the ener)y any more, or e(en because you!re too youn)* .ecause2 .ecause2 .ecause2 Con(entional wisdom says you can!t, that!s why2 Colonel Sanders was 0 years old when he decided to sell fried chicen in a cardboard bo#+ 9randma Moses was in her 1!s when she decided to &aint+ ow old are you* s your idea any more funy than Sanders* 9randma Moses!* s your idea any stran)er than 8oss Perot!s idea to build a com&any that could outsell .M at what they did better than anyone in the world* Chea&er* Startin) with E,111* 4r what about a teena)e .ill 9ates wantin) a com&uter in e(ery <+S+ home2 don!t thin so2 7ho!s iddin) who* 7hat about the &roliferation of dot+com com&anies, my own included - GCli#+com2 @Clic here and seeA There are literally thousands of dot+coms founded by 31-year-old ids to senior citiens+ Thin about the followin)H n IIJ there th ere were (irtually no dot+coms+ n III o(er G11 dot+coms had P4!s P4!s for a maret ca&italiation of a trillion dollars: and it!s estimated in 3111/311 o(er I11 dot+coms will come to maret+ The 3IJ com&anies doin) the most business on the internet ha(e an a(era)e maret ca& of E billion+ That!s G1 times the a(era)e N'SD'$ non-dot+com com&any!s maret ca&2 t!s a chan)ed world2 're you chan)in)* f you ne(er read another "Money Messiah" $uantum %ea& 'd(anta)e nternet Newsletter or ne(er attend one of my seminars then only follow this sim&le &rece&t for su&er successH Con(entional 7isdom is 'lmost 'lways 7ron)+ ;ou will lea(e your &ro)eny and/or family a much lar)er estate @if that!s im&ortant to youA+ For)et lea(in) money+ ;ou!ll ha(e a much fuller life because money allows you choices+ f you thin money doesn!t buy ha&&iness, you don!t now where to sho&+ @%inda Peñ aA 's an aside, at one time in my life, was )oin) to lea(e all my money to The Society for the Pre(ention of Cruelty to 'nimals+ .ut let con(entional wisdom chan)e my mind+ 7e 7e are all susce&tible+ 'nd remember, said con(entional wisdom was almost always wron)2 Needless to say, my ids su&&ort con(entional wisdom here2 To ;our ;our $uantum $ uantum %ea&, Daniel S+ Peñ a, Sr+ P+S+ Peo&le often as me to re(eal the "Secrets" of what really maes a su&er successful, hi)h &erformance &erformance &erson+ There are no no secrets that now+ now+ 4n these &a)es &a)es will )i(e you you the truths @albeit brutal sometimesA about main) a lot of money+ money+ Not the half truths, misinformation, and .+S+ you!(e already heard ad nauseam+ want to sa(e you from main) a lot of mistaes+ Mistaes !(e &ersonally made+ made+ P+P+S+ .efore you buy any self-hel& boo, audio or (ideo ta&e, or &ut your butt into a seminar seat, as yourself "s this &erson where want to be* as he Kbeen there, done that! in a ma=or lea)ue way* 7ould want him as my mentor* Do really res&ect his business acumen* Does he ha(e world-class credentials* credentials* 4r did he mae his money sellin) as a seminar )uru*"
;ou see, all su&er hi)h &erformance &eo&le )o a)ainst con(entional wisdom+ Turner, acocca, Ford, Dell, 6dison, 9ates, ?obs, Tom 7atson, Perot, Fred Smith, Bni)ht, .eoes, and &robably any su&erstar you now all subscribe to do what others felt was wron)+ 'nd in e(ery case, &robably somethin) that was not considered achie(able+ n other words, the (ery o&&osite of con(entional wisdom+ That same con(entional wisdom that is &reached in our schools+ 'nd 'nd we wonder why we!re not more successful2 7hy our children are not hi)h achie(ers2 7e wonder why ids are so ill-&re&ared for life2 7e wonder why there are so many dufuses2 @!ll write a )reat deal about dufuses in future issuesA+ 7ouldn!t you lie to ha(e some chances bac a)ain* The thin)s you didn!t do+ 'nd you say you can!t+ 7hy* .ecause of your res&onsibilities, family, ids, etc+ .ecause others say so* .ecause time has &assed you by* .ecause you are too old now* .ecause you don!t ha(e the ener)y any more, or e(en because you!re too youn)* .ecause2 .ecause2 .ecause2 Con(entional wisdom says you can!t, that!s why2 Colonel Sanders was 0 years old when he decided to sell fried chicen in a cardboard bo#+ 9randma Moses was in her 1!s when she decided to &aint+ ow old are you* s your idea any more funy than Sanders* 9randma Moses!* s your idea any stran)er than 8oss Perot!s idea to build a com&any that could outsell .M at what they did better than anyone in the world* Chea&er* Startin) with E,111* 4r what about a teena)e .ill 9ates wantin) a com&uter in e(ery <+S+ home2 don!t thin so2 7ho!s iddin) who* 7hat about the &roliferation of dot+com com&anies, my own included - GCli#+com2 @Clic here and seeA There are literally thousands of dot+coms founded by 31-year-old ids to senior citiens+ Thin about the followin)H n IIJ there th ere were (irtually no dot+coms+ n III o(er G11 dot+coms had P4!s P4!s for a maret ca&italiation of a trillion dollars: and it!s estimated in 3111/311 o(er I11 dot+coms will come to maret+ The 3IJ com&anies doin) the most business on the internet ha(e an a(era)e maret ca& of E billion+ That!s G1 times the a(era)e N'SD'$ non-dot+com com&any!s maret ca&2 t!s a chan)ed world2 're you chan)in)* f you ne(er read another "Money Messiah" $uantum %ea& 'd(anta)e nternet Newsletter or ne(er attend one of my seminars then only follow this sim&le &rece&t for su&er successH Con(entional 7isdom is 'lmost 'lways 7ron)+ ;ou will lea(e your &ro)eny and/or family a much lar)er estate @if that!s im&ortant to youA+ For)et lea(in) money+ ;ou!ll ha(e a much fuller life because money allows you choices+ f you thin money doesn!t buy ha&&iness, you don!t now where to sho&+ @%inda Peñ aA 's an aside, at one time in my life, was )oin) to lea(e all my money to The Society for the Pre(ention of Cruelty to 'nimals+ .ut let con(entional wisdom chan)e my mind+ 7e 7e are all susce&tible+ 'nd remember, said con(entional wisdom was almost always wron)2 Needless to say, my ids su&&ort con(entional wisdom here2 To ;our ;our $uantum $ uantum %ea&, Daniel S+ Peñ a, Sr+ P+S+ Peo&le often as me to re(eal the "Secrets" of what really maes a su&er successful, hi)h &erformance &erformance &erson+ There are no no secrets that now+ now+ 4n these &a)es &a)es will )i(e you you the truths @albeit brutal sometimesA about main) a lot of money+ money+ Not the half truths, misinformation, and .+S+ you!(e already heard ad nauseam+ want to sa(e you from main) a lot of mistaes+ Mistaes !(e &ersonally made+ made+ P+P+S+ .efore you buy any self-hel& boo, audio or (ideo ta&e, or &ut your butt into a seminar seat, as yourself "s this &erson where want to be* as he Kbeen there, done that! in a ma=or lea)ue way* 7ould want him as my mentor* Do really res&ect his business acumen* Does he ha(e world-class credentials* credentials* 4r did he mae his money sellin) as a seminar )uru*"
ISSUE #2 From Dan Peña - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friend and SubscriberH N6'8N9 00 's said in i n May IIG when was be)innin) my coachin) career, career, would cut bac my seminars, etc+ in 3111 to coincide with my 00th birthday, which ha(e done2 Now as sit here here by the &ool )ain) )ain) out at the 9ulf of of Me#ico @no, ha(en!t ha(en!t mo(ed to Florida yetA, contem&late my family+ My wife and G-year-old dau)hter are in New ;or City for S&rin) .rea )oin) to shows and museums and, of course, sho&&in)+ My -year-old -year-old son =ust s&ent 1 days with me here boatin) and )olfin)+ t was the first )olfin) since my serious accident last year and subse>uent "fi#-it" sur)ery in ?anuary 3111+ Suffice Suffice it to say, say, the 0" titanium &late holdin) my ri)ht shoulder to)ether and the bone )raft taen from my 0J-year-old 0J-year-old hi& aren!t conduci(e to a )ood )olf swin) yet2 My )ame was >uite u)ly+ 7hen was decidin) what would write for my second $%' nternet nternet Newsletter, Newsletter, it didn!t tae me lon) to decide my to&ic+ 4ne of the most misunderstood to&ics in businessH %T9'T4N %T9'T4N 'S ' .
we &reclude oursel(es from benefittin) from it+ Normally the cost associated with it ee&s us from usin) it+ n fact, !m currently embroiled in liti)ation where the ancillary &layers to the liti)ation ha(e ri)hts which are bein) se(erely (iolated+ ' lar)e )rou& of &eo&le could brin) )reat &ressure to bear, but they!re afraid because of &re(ious bad e#&eriences+ They could )et what they deser(e but aren!t &ursuin) their best interests+ There are lawyers who tae on cases for humanitarian reasons, if the case warrants, in business as well, i+e+, bi) ma=or cor&orations tain) ad(anta)e of the system because of their sie alone+ 7hy do you want to initiate the lawsuit so you are the &laintiff* 's the &laintiff, you &ic where and when the lawsuit is fou)ht and &robably ultimately ad=udicated+ This can be a hu)e ad(anta)e+ 'nd secondly, the &laintiff is allowed two closin) ar)uments, meanin) you @your lawyerA )ets to address the =ud)e and/or =ury once and then a)ain after the defendants! closin) ar)ument+ This can also be (ery im&ortant+ 8<%6S 4F %T9'T4N 3 G J 0
C4S6 ;4<8 .'TT%6S C4S6 T6 56N<6 .6 T6 P%'NTFF '56 T6 .6ST 86P86S6NT'T4N %ST6N T4 ;4<8 6'8T D4N!T %ST6N T4 ;4<8 SCB ST4M'C 76N ;4
D<8N9 5D64T'P6D D6P4ST4NS 'ND N C4<8T, %44B 'T T6 C'M68' 'ND T6 ?<8;+ M'B6 6;6 C4NT'CT+ 76N T6STF;N9 N ' D6P4ST4N/T8'%, F ;4< D4N!T BN47 T6 'NS768, 3 S'; ;4< D4N!T BN47 T6 'NS768 30
t!s a closed world of to& liti)ators+ 5irtually all bi) law firms ha(e )ood to su&er-)ood lawyers+ 'll bi) law firms don!t ha(e )reat liti)ators+ ;ou don!t always need a )reat lawyer, but sometime if you )row )eometrically, you will+ %ie any other &ro=ect mana)ement, liti)ation must be mana)ed+
ISSUE #3 An effective Investment Strte" n s$%n Investment vise is &ri$rit"
For an effecti(e n(estment Strate)y sound n(estment ad(ise &lays an im&ortant role+ There ha(e been (arious incidents, which shoo the financial world which include the Tuli& .ulbs in the G1!s in olland, the famous stoc maret crash in I3I and '&rilJ, 3111 crash at Dow and N'SD'$ are indicators to de(ice a fool&roof in(estment strate)y+ Facts are Monday!s acti(ity does not mean much unless the maret has dramatically risen or fallen+ 7ith these uncertainties a waterti)ht in(estment strate)y needs to be established+ n the last century, there was unrest when oil &rices di&&ed 0 times lower+ .eatin) it all are classic cases in the ener)y industry where &owerful dynasties were built+ Com&anies started with less then
E111 ha(e )rown to earn EJJ0,111,111 in ei)ht years+ To offer sound n(estment ad(ice, con(entional wisdom does not score and the down maret en(ironment re>uires s&ecial sills+ n fact, s&endin) habits will be reduced with e#ce&tions on alcohol and mo(ies+ .ans will tou)hen out and mani&ulate ratios as there would be a sieable dro& their (aluation of to& com&anies+ 6-Commerce will &erish and com&anies with re(enue will be the only ones financed+ Financial institutions will cash in and mae u& for lost time+ 's an n(estment 'd(ise, thin throu)h the conce&t, the financial model and current economic circumstances and wor around it+ Post&onement and &rocrastination for the economy to stabilie is &erilous+ Financial institutions will re>uire &eo&le with down maret e#&erience while &artnershi& and ?5 clients will be ele(ated to a su&erior &osition as they ha(e been there and done that+ I'A(s - )*1+(s - HIGH TECHS - BE,A'E
a(in) =ust &ut my "%iti)ation as a .usiness Tool" Newsletter to bed, find it incumbent u&on myself to &ut &en in hand @yes, write theseA and issue a bit of e#tremely im&ortant - in some cases, financial life and death - information+ The stoc maret, as we now @yes, all you &unditsA is a leadin) economic indicator, i+e+, the I3I Crash was followed by a se(ere de&ression @and don!t mean the ind of de&ression you )et when you )ain 1 lbs+A+ could )i(e other e#am&les )oin) bac to Tuli& .ulbs in the G1!s in olland, so suffice it to say, what ha&&ened Friday @1J/J/11A in the Dow and N'SD'$ indicates we could be in .i) FRR Trouble in the days, wees and months to come2 Monday!s acti(ity doesn!t mean much unless the maret has a hu)e day - u& or down or bi) (olume+ !m not a stoc maret )uy @anymoreA, rememberin) left 7all Street three decades a)o+ .ut did build a formidable dynasty in the )reatest de&ression in the ener)y industry nown in the last century, i+e+, when oil went from EJ &er barrel to less than E &er barrel+ )rew a com&any from E31 to EJJ0,111,111 in ei)ht years+ Main) money in a down maret and/or down economy taes s&ecial sills+ Con(entional wisdom is your bi))est enemy+ will write from time-to-time on this &re(ailin), awesome sub=ect assumin) the maret continues to )o south for the be)innin) of this New Millennium+ will =ot a few &earls of wisdom for you to &onder as you calculate the de&ressed (alue of your ho&efully not too de&ressed &ortfoliosH + S&endin) habits will be reduced almost across the board+ 6#ce&tions will be @lie in the De&ressionA alcohol and mo(ies @which would include (ideo and cableA+ 3+ .ans will ti)hten their )ri&s and ad=ust ratios G+ 5aluations for new hi)h-tech/dot-coms will be reduced+ The e#istin) ones, as seen in the N'SD'$ maret, ha(e already been disseminated+ For e#am&le, dot-coms with real trailin) re(enue, 6.TD' and e(en earnin)s will rebound first+ J+ 6-Commerce &lays will &erish and be e#tremely difficult to finance+ 8eal com&anies with re(enue, etc+ will be the only ones that )et financed+ 4f course, some of you now my own dot-com has E1 million in trailin) III re(enue - last month @March 3111A we did EI01,111+ 6#&ectin) a drastic (aluation chan)e, in ?anuary we ac>uired a real .-to-. com&any with re(enue and a trac record+ 0+ Financial institutions which missed the bubble by not in(estin) or lendin) will be hun)ry to mae u& for lost time and initially &ercei(ed missed o&&ortunities+ + f you still want to &lay the 6-commerce/dot-com )ame, loo for real trailin) re(enues with bi) .-to-. com&anies+ f there!s time, you can build your financial story around your intuiti(e nowled)e you had (is-a-(is the maret and o(er-e(aluations - and now is the time to, yada, yada, yada2 + Thin throu)h your idea, financial model, etc+ and ad=ust your &resentation to the current economic circumstances+
+ Mo(e >uicly2 Don!t &rocrastinate2 Don!t wait for the economic conditions to stabilie2 e/she who hesitates is lost2 I+ 7hate(er you do, you still must be &assionate about it - es&ecially now+ 1+ Financial institutions will want &eo&le who ha(e succeeded in a down maret+ Partner or ?+5+ with e#&erience that has been there and done that in a bad maret+ To ;our $uantum %ea&, Daniel S+ Peña, Sr+ P+S+ 's this is bein) written, the marets are attem&tin) to rally+ f the rally isn!t sustained, may do a "8aisin) Ca&ital in a Down Maret" Seminar later this year+
ISSUE #) Getting to know the top CEO’s through their Leadership Quotes
This is an abstract of %eadershi& $uotes from 7orth Ma)aine!s May issue which lists the To& 01 C64s+ Some of the most notable facts are mentioned here and the article in )eneral )i(es an interestin) &ers&ecti(e on how C64s thin+ There were sim&le >ueries that &robed into their luncheon habits to their beliefs on the e#istence of intelli)ent life beyond the earth+ Some of these %eadershi& $uotes are thou)ht &ro(oin) and some are smart e#&ressions laced with humor+ The C64s featured here are from '&&lied Materials, .est .uy , .roadcom, Continental, 6bay, 6l Paso, 6MC, 6nron, oneywell, ntel, ?DS uotes are a rarity+ 7hen ased about lunch, Nicholas from .roadcom reacted by wantin) to eat com&etition+ nterestin)ly, when 6n)ibous from Te#as nstruments was ased about the number of hours s&ent on the net it was a mea)er 1 minutes a wee+ 't the other end of the s&ectrum ?ames .ond was the &o&ular choice amon) the C64s when ased about fictional characters+ Sur&risin)ly, these leadershi& >uotes are s&ruced u& with brands+ 'lon) with the ummer and %ambor)hini Diablo there was room for Da(idoff ci)ars, electric screwdri(ers alon) with brands lie 8ole#, Pate Phili&&e, 8ado and Oeiter+ 'dded to these, each C64 has their own distinct idiosyncrasies with their own distinct dislies about themsel(es+ 7hen ased about a (acation in the last 3 months, one C64 mana)ed to holiday for a month+ 9i(en an e#tra hour one C64 claimed s&endin) time talin) to em&loyees+ 7hen ased about the Dow both o&timistic and &essimistic (iews were noticed+ 7hen ased about intelli)ent life beyond 6arth a ma=ority of &ro&ounded its e#istence+ 'dded to this there were two e#tremes when it came to casual clothin)+ 4ne C64 asserts casual clothin) is not &rocess efficient while some of them li(e in their =eans+ don!t normally >uote directly from an article (erbatim+ 'nd certainly won!t >uote as much as do in this letter+ 748T Ma)aine!s May issue lists the To& 01 C64!s+ !(e >uoted some of the more notable facts @in my o&inionA listed+ The facts listed and the article in )eneral )i(es you an interestin) &ers&ecti(e on how the best
Clear ChoiceH Cisco!s ?ohn Chambers has already created more wealth than .uffett or 7elch+ This year, he!ll liely sur&ass 9ates+ "7'T!S ;4<8 F'548T6 %
"7686 7%% T6 D47 6ND T6 ;6'8*" .ethune @ContinentalAH am &rayin) it will be u&+ Da(id @uestions in future newsletters+
ISSUE # From Dan Peña - "The Money Messiah" and Mentor/Coach for the New Millennium+ Dear Friend and SubscriberH The followin) rules by .ill 9ates are &retty )ood+ $%' Methodolo)y is a lot more a))ressi(e than this, but for those of you who didn!t see them, !m forwardin) them on+ stron)ly belie(e we!d do our youth an in=ustice if we are too easy on them+ 's we all realie, life will not be easy on them+ 8<%6 @$%'A %ife is not fair: )et used to it+ 8<%6 3 @$%'A The world won!t care about your self-esteem+ The world will e#&ect you to accom&lish somethin) .6F486 you feel )ood about yourself+ 8<%6 G ;ou will N4T mae J1 thousand dollars a year ri)ht out of hi)h school+ ;ou won!t be a (ice &resident with a car &hone, until you earn it+ 8<%6 J @$%'A f you thin your teacher is tou)h, wait till you )et a boss+ e doesn!t ha(e tenure+ 8<%6 0 @$%'A Fli&&in) bur)ers is not beneath your di)nity+ ;our )rand&arents had a different word for bur)er fli&&in): they called it o&&ortunity+
8<%6 @$%'A f you mess u&, it!s not your &arents! fault, so don!t whine about mistaes, learn from them+ 8<%6 @$%'A .efore you were born, your &arents weren!t as borin) as they are now+ They )ot that way from &ayin) bills, cleanin) your clothes and listenin) to you tal about how cool you are+ So before you sa(e the rain forest from the &arasites of your &arents! )eneration, try "delousin)" the closet in your own room+ 8<%6 @$%'A ;our school may ha(e done away with winners and losers, but life has not+ n some schools they ha(e abolished failin) )rades: they!ll )i(e you as many times as you want to )et the ri)ht answer+ This doesn!t bear the sli)htest resemblance to 'N;TN9 in real life+ 8<%6 I %ife is not di(ided into semesters+ ;ou don!t )et summers off and (ery few em&loyees are interested in hel&in) you find yourself+ Do that in your own time+ 8<%6 1 Tele(ision is not real life+ n real life &eo&le actually ha(e to lea(e the coffee sho& and )o to =obs+ 8<%6 .e nice to nerds+ Chances are you!ll end u& worin) for one+ To ;our $uantum %ea&, Dan Peña
ISSUE #. T/e 0sics in &ers$n eve$&ment &n n t/e &r$cess $f c$ntin%$%s &ers$n eve$&ment r$t/
n a &ersonal de(elo&ment &lan trust, reco)nition, moti(ation and the im&ortance of continuous &ersonal de(elo&ment )rowth is essential+ This is su&&orted by Maslow!s theory that human bein)s &ro)ress throu)h a hierarchy of needs until self-actualiation is reached+ The simile drawn for this &rocess is to build an emotional ban account as defined by Maslow+ To build these emotional ban accounts decision-main) and self-actualiation are the main com&onents+ 7ith a &ro&er &ersonal de(elo&ment &lan &eo&le ha(e )one a lon) way achie(in) self-actualiation+ The fli&side of this &ersonal de(elo&ment )rowth is that there is no &erfect decision nor can decisions be made lain) around+ 7hen difficult decisions need to be taen the a(era)e &erson )oes wron) by sol(in) the wron) &roblems+ The haards are characteriations of decision where ob=ecti(es become narrow and only a few alternati(es are taen into consideration+ .ad decisions are made because situations are not considered in a broader conte#t+ This leads to de(elo&in) tolerance and acce&tin) &roblems+ Choosin) solutions from decisions is more a habit than fi)urin) what decisions should be addressed+ The easy way out is to do what comes naturally and not >uestion the issues as this becomes an emotionally-easier decision+ First define the "decision &roblem"+ ' )ood solution to a well-&osed &roblem is su&erior than an outstandin) solution to a &oorly-&osed &roblem+ 'ddressin) the &roblem correctly is essential and in the course of arri(in) at a solution the situation may chan)e and the &roblem becomes a new &roblem while the situation doesn!t chan)e+
Focusin) and worin) on the ri)ht &roblem is essential but can be associated with the &ain and fear of error in =ud)ment+ n formulatin) a Personal De(elo&ment &lan, chances of both )ood and bad decisions, the fear of failure and willin)ness to )et e#&erienced throu)h mistaes hel&s in )ettin) closer to self-actualiation+ The tendency to as >uestions re&eatedly may be annoyin) but it is a sure shot method of )ettin) comfortable with the &rocess of &ro&er decision-main)+ 4n the way to success, there are no short cuts and it starts with )ettin) comfortable with failures+ 7hile creatin) a &ro&er &ersonal de(elo&ment )rowth &lan thicenin) the emotional sin and )ettin) comfortable with failures on the way brin)s dreams to fruition+ These form the absolute basic tenets for hi)h-&erformance and fulfillment+ 's !(e written, while tra(ellin) )et cau)ht u& on my readin)+ 4ne of the articles recently read was about Dr+ 'braham + Maslow+ The =ournals he wrote in I3 were recently re-released+ 's a freshman in uni(ersity in IG, studied Maslow - before fluned out+ is "ierarchy of Needs" is now le)endary in the world of &sycholo)y+ Maslow!s wor has its own website, and recommend you loo at it @6;Psychain Mana)ementA+ e is hi)hly recommended by many, includin) myself+ The reason !(e always lie Maslow has become more clear to me since entered the world of coachin) in IIG+ is I3 boo Toward the Psycholo)y of .ein) describes the theory that human bein)s &ro)ress throu)h a hierarchy of needs until they reach a &oint of self-actualiation+ n other words, trust, reco)nition, moti(ation and the im&ortance of continuous im&ro(ement in life+ t!s (ery much lie the emotional ban account you!(e heard me tal and write about ad nauseam+ e maes it sound more scientific+ Peo&le !(e been in business with o(er the years ha(e )one a lon) way toward their own selfactualiation+ did myself more than 31 years a)o when decided to )et my head screwed on strai)ht in I+ 'nother article read was on "The Perfect Decision" by an entre&reneur+ 4r more basically, there S N4 &erfect decision, but neither are decisions made by the seat of your &ants+ Part of selfactualiation and buildin) emotional ban accounts is the act of decision-main)+ 7hat does the a(era)e &erson @youA do wron) in main) difficult decisions* ;ou start to sol(e the wron) &roblems+ ;ou =um& at the first @easiestA characteriations of your decision, so your ob=ecti(es are too narrow and you consider too few alternati(es+ Now, by this certainly don!t mean to %otus -3-G a >uestion to death+ 7hat is meant is, because of ine#&erience, we loo at a narrow sco&e of outcomes+ 4f course the answer to this is an e#&erienced .oard with a well-res&ected and battle-hardened @and in my case, e#tremely charmin), affable and saintly2A Chairman and Mentor+ @Some of you will thin !m iddin)+A .ad decisions are made because ine#&erienced &eo&le don!t loo at situations in a broader conte#t, because it maes them uncomfortable+ For e#am&le, you mae decisions from childhood @3 or Gyears-oldA with no trainin)+ 7e )et into bad habits, we learn to acce&t the ways &roblems are )i(en+ So you are choosin) solutions from decisions )i(en to you by others+ 'fter 31 to J1 years, we!re &retty much in that habit rather than asin) oursel(es what decisions we should be addressin)+ !(e said it!s not easy thinin) about main) hard decisions+ The easy way out is =ust to do what comes naturally and not tryin) to >uestion the issues more broadly+ This is another way of sayin) you mae the emotionally-easier decision+ The first thin) you need to do is define the "decision &roblem" you are really facin), i+e+, what it is you ha(e to decide+ ' )ood solution to a well-&osed &roblem is usually far su&erior to an outstandin) solution to a &oorly &osed &roblem+ Now the real >uestion is, how do we now we are &osin) the &roblem correctly* 4ne - our mentor2 Two - &erha&s, after a lifetime of messin) thin)s u&, throu)h bad decisions+ 4r three - by asin) yourself, "is this what really need to decide* s this the ri)ht &roblem*" 's you well now, after a while you are in the course of decidin) the situation chan)es and the &roblem becomes a new
&roblem+ 'nd sometimes the situation doesn!t chan)e, but your insi)hts into the situation do+ 's you all now, bein) a minority shareholder in a &ri(ate com&any is lie issin) your sister+ For most of you, !(e had little to do with your decision-main) &rocess+ For a few of you, !(e had considerable in&ut+ !(e in no certain terms &robed your ob=ecti(es, )oals, interests, fears, as&irations and at times, hel&ed you &sychoanalye yourself, asin) what you really want and understandin) your basic desire and continually &robed, &robed, &robed+ Now, if you don!t now if you are worin) on the ri)ht &roblem and you don!t listen to the e#&erience of your mentor and/or board, what ha&&ens* 5ery few &eo&le focus on whether you are worin) on the ri)ht &roblem+ 7hy* .ecause to focus on the ri)ht &roblem normally is associated with the &ain and fear of error in your =ud)ements R- a bi) mistae2 There are )ood and bad decisions and no more than fear of failure and bein) willin) to become e#&erienced throu)h main) a lot of mistaes+ The more you )et closer to self-actualiation the better your choices+ 't this =uncture, could write (olumes about inner &eace and the fulfilment of life!s meanin), but won!t2 Some of you @alumni of other &ro)ramsA could also write these (olumes+ n fact, some of you ha(e - in your emails to me2 ' collea)ue =ust called for some assistance+ The ad(isor for the seller with whom he!s been ne)otiatin) has =ust been fired+ 7hat now, Dan* 7hat 7ould Dan Do* 77DD* t!s funny what thin of when )et calls and emails from you+ remember how this &articular &erson was difficult to be sold on $%'+ e &ur&orted had a &artner who couldn!t tae action+ .ein) .ritish, he e&t tryin) to con(ince him+ e came to the 9uthrie Castle Seminar and still tried, for a while, to )et his &artner to commit+ Finally he said he!d )o forward without this &artner2 Don!t )et me wron)+ This &erson had a million >uestions himself about attendin) the Castle and mo(in) forward+ 't 9uthrie he had another million >uestions - he!s an en)ineer and must understand2 's far as can remember, we!(e had one .oard meetin) at 9uthrie+ !(e hel&ed inter(iew one or two of our .oard members and we ha(e four or fi(e .oard members+ There ha(e been two or three chan)es on the .oard+ thin we!(e chan)ed accountants at least once and we!(e had the same lawyers @ thinA2 e now ass less and less because he is more comfortable with what*U++himself2 n recent years, (arious collea)ues ha(e taen me to dinner or for coffee from time-to-time when !m a(ailable+ They also listen to me+ Sometimes )i(e (ery s&ecific instructions and other times )i(e )eneral )uidelines+ Sometimes my sa)e in&ut is difficult to follow, as many will attest to+ .ut as someone who has had any success usin) $%', you already now you ha(e to )et used to failure and re=ection+ This is not to say you become comfortable with not com&letin) your )oals+ 7hat mean is you must )et comfortable with failures on the way to brin)in) your dream to fruition+ ;ou must thicen your emotional sin+ ;ou must become more comfortable with the failures you e#&erience on the way to success+ o&efully all of you understand this absolute basic &rece&t to bein) a hi)h-&erformance and fulfilled &erson+ ;ou!(e heard me say, )et successful and you!ll feel )ood about yourself2 Do you thin 8ichard .ranson, Donald Trum& or 8oss Perot care the same way you do about what &eo&le thin and failures* don!t thin so2 6(ery day of the rest of your life is a new test2 ow will you score* ;ou!ll score )reat if you li(e it lie it!s the last two minutes of your last 7orld Cu& / Su&er .owl+ To a &ros&erous and emotionally fulfillin) life, Dan P+S+ To >uote ?erry S&rin)er, no matter what your a)e @&ass adolescenceA you are res&onsible for your own actions, irres&ecti(e of the actions or inactions of someone else+ Pass the a)e of le)al
reason @ in the <+S+A, you and only you are accountable for what you do or don!t do+ 8ememberH in the words of a )reat, all-nowin) soothsayer, "'ll &eo&le are self made, only successful &eo&le tal about it2" P+P+S+ 8oss Perot - "Success is on the raor!s ed)e of failure+" P+P+S+ did ultimately
ISSUE #4 T/e essentis f$r &ers$n eve$&ment r$t/ n efinin &ers$n eve$&ment &n
Definin) a &ersonal de(elo&ment &lan would mean alterin) the career &ath life cycle+ Further, the main in)redient for a &ersonal de(elo&ment )rowth schedule is to handle e(ery assi)nment with the same (i)or and enthusiasm lie it was the (ery first one+ The success route is tain) the hi)h road and as&irin) for a better life and bein) aware of the difference between ri)ht and wron)+ %i(in) life in >uiet des&eration and &ursuin) a dream only leads to a self-&roclaimed re(enue stream and a distinct lifestyle, which &a(es way to enter a comfort one in life+ Part of the &ersonal de(elo&ment &lan is to ha(e resolute determination+ This is (i(idly e#hibited in the mo(ies "Search For The North Pole", "The 'lamo", and "Sa(in) Pri(ate 8yan"+ These are cinematic e#&ressions of resolute determination &ortrayed throu)h con>uerin) the fri)id &eas of the North Pole, a bloody ci(il war to win bac a state and a mother!s &ersonal mission to find her lost son fi)htin) in the army after losin) three of her sons in 777+ 6ssentially for &ersonal de(elo&ment )rowth, a few secrets from a su&er hi)h &erformer hel&s+ t isn!t =ust brains or education, thou)h they certainly mae success achie(able+ The act of doin) it and constant &erse(erance that it should be done are clear winners+ istory has stalwarts who ha(e achie(ed unflinchin) success in this area+ .ut alon) with their honor and consternation, is the fear of losin) li(es, sufferin) from &o(erty, humiliation and im&risonment+ uisitions and di(estitures+ The abo(e life cycle has s&anned fi(e decades, two centuries and two millenniums+ My conclusions areH ha(e found most &eo&le are )ood: most &eo&le would rather tae the hi)h road: most &eo&le want a better life: most understand the difference between ri)ht and wron): and most &eo&le @but not as many as you thinA, when faced with )reed and a(arice, will do the ri)ht thin)+ 6r)o, there should be no reason why most &eo&le aren!t successful at whate(er they choose - 784N92 Most &eo&le lead li(es of >uiet des&eration+ Most &eo&le aren!t en)a)ed in the &erse(erance of a
dream+ They are en)a)ed in somethin) which &roduces a re(enue stream, creatin) a lifestyle which they )et used to by default+ They )et comfortable and more or less stay in that comfort one their entire life+ 4(er this &ast weeend, while at my home at 9uthrie Castle, in between &layin) )olf on my own &ri(ate )olf course, wored as usual and watched CNN+ n between watched three different films on the satellite T5 in my officeH "Search For The North Pole", "The 'lamo", and "Sa(in) Pri(ate 8yan"+ To rela# at ni)ht, smoe a Monte Christo K'! Ci)ar and ha(e a few drins whilst doin) my li)ht wor and watchin) a film+ felt should write a newsletter, so !(e been thinin) about a sub=ect matter+ was looin) out my office window onto the )olf course, wonderin) why !m here and others, not as fortunate, are other &laces+ t!s li)ht &ast H11 &+m+ now+ ;ou can actually &lay )olf for about 31 hours a day+ Peo&le often as me, "what was the turnin) &oint in your life *" often say ne(er really looed at it this way but usually say, my (olunteerin) for military ser(ice at the hei)ht of the 5ietnam 7ar as a &ri(ate and endin) my military career as an officer @without a colle)e de)reeA was the turnin) &oint+ 4f course, went on to )raduate from colle)e, which is a story by itself+ More than )ettin) battered as a &ri(ate and learnin) to be neat and clean, learned what was em&hasied as "resolute determination" - no matter what+ The military is different now+ There is no batterin), etc+ to s&ea of+ belie(e we, in the free world, are fortunate communism failed+ n the three mo(ies watched this weeend, this resolute determination was e#hibited o(er and o(er a)ain+ f you will indul)e me, briefly, itVs my letter and itVs free 2 will illustrate what mean+ Search For The North PoleH 'dmiral Perry, after a number of attem&ts, finds the North Pole+ e had dreamed of this since he was si# years old+ e had &lanned his uests are bein) >uestioned+ 6(ery failure tau)ht him somethin) different+ is wife, children and others, whether they wanted to or not, became &art of the sacrifice - as ha(e mine+ The 'lamoH For my 'merican readers this is an old story+ The youn) country was fi)htin) Me#ico for Te#as+ ' few hundred "lads" tae on about ,111 well-trained Me#ican infantry and artillery+ The 'mericans new they couldn!t win+ Their dream of freein) themsel(es from Me#ico could only be hel&ed by their resolute determination to merely slow the 'rmy down and send a &owerful messa)e to the o&&ressors+ Te#as would not )i(e u&, no matter what the cost+ 'll but women and children &erished, )ladly, as the story )oes+ This &articular battle @and each country that has fou)ht for freedom has their ownA is s&ecial in
we find the id and with all the bad )oin) on, we can say this id chan)ed the world for the better*" For more than G1 years ha(e dealt with life as do business2 'll-out or nothin)+ 's the Na(y Seals say, "9o hard or )o home" and "The only easy day was yesterday"+ t had been difficult for me to understand, after se(en years of tryin) to coach &eo&le what can do naturally, why &eo&le still ha(e )reat difficulty+ Now now the sin)le bi))est difference between a su&er hi)h &erformance &erson isn!t brains or education - thou)h these certainly can mae it easier to succeed+ t!s the resolute, undyin) belief in what you!re doin)+ The constant &erse(erance that it will )et done - no matter what+ The abo(e is (irtually im&ossible unless your endea(our is wra&&ed around your dream and your &assion for it+ could list countless success stories from the marine ser)eant @who attended my Castle 6#&erience who willed his se(ered s&ine to healA to elen Beller, Thomas 6dison, enry Ford, 8ichard .ranson, 9olda Mayer, Mar)aret Thatcher, 'nwar Sadat, Nelson Mandela, Christ, 9andhi and Mohammed, amon)st others+ Now don!t misunderstand me+ 8esolute commitment, no matter what, has caused me, alon) with the honor roll abo(e, )reat consternation, heart-ache and more, i+e+, it cost a few their li(es, a few suffered &o(erty, humiliation and im&risonment durin) their careers+ t!s not an easy tri&2 There is a "&ay &rice to action", as call it+ t!s your choice2 .ut the old ada)e, "No 9uts - No 9lory", is &retty much what my 0J years ha(e tau)ht me+ .i) 8is, .i) 8ewards and .i) Problems+ 8oss Perot &ut it another way - "Success is always on the raor!s ed)e of failure"+ enry Ford said, ";ou can!t mae a re&utation on somethin) you ha(en!t done"+ 8oy Disney @7alt Disney!s older brotherA said, "7hen (alues are clear, decisions are easy"+ f the benefit &ercei(ed by you is clear, your decision to be resolute will be easy@ierA+ f it!s your dream and &assion, you will not >uestion stretchin) way outside your comfort one+ 7ithout )oin) beyond, you!ll be where you are now - years from now+ )uarantee it2 8emember, fear is False 6#&ectation '&&earin) 8eal2 !m looin) forward to seein) you outside your comfort one - Soon2 Come =oin me, or as the
one in 'u)ust and the other in No(ember+ ha(e no "Deal Main) / Mer)ers and 'c>uisitions" seminars scheduled+ ha(e no "8aisin) Ca&ital" seminars scheduled, thou)h !d lie to )i(e one because it!s my fa(orite2 S&eain) of money, last Friday met with the rei)nin) in) of 6uro&e (enture ca&italist and one of the to& in the world+ e wrote, "Please besie)e us with deals, Dan+" PPPS will still use the Castle 6#&erience as a filter for future transactions mi)ht be in(ol(ed with+ 't the Castle can easily determine the abo(e and 3+ PPPPS will continue usin) The 9uthrie Castle 9rou& @see websiteA as my conduit for (arious transactions outside direct $%' in(ol(ement+
ISSUE #5 Dear Friend and Subscriber, 's sat, watchin) Pete Sam&ras win his se(enth 7imbledon Cham&ionshi& @his thirteenth 9rand Slam Cham&ionshi& - a new all time recordA, thou)ht of what wrote a few days a)o+ also thou)ht of one of my de(otees res&onse which forwarded to you+ Pete Sam&ras is a )enuinely nice )uy+ 6(en a little shy+ e!s 3 years old and says he owed today!s success to his &arents, fiancWe and 9od+ e was losin) at the be)innin) of the match and came bac, after thinin) he mi)ht lose, to win stron)ly+ Notwithstandin) my de(otee mi)ht belie(e Pete Sam&ras is an anomaly, don!t 2 The ey is, he was led by a role model - in this case his &arents+ !(e written, ad nauseam, how Socrates wrote @e(en before came on the sceneA the easiest way to success was modelin) someone who had already achie(ed success - been there and done it+ 4b(iously, Pete Sam&ras modeled other )reat tennis &layers to become ar)uably the )reatest of all time+ .ut, dealin) with the ramifications of su&er success, he )ot the solid )roundin) he recei(ed from his &arents+ S&eain) of )roundin) - a cou&le of years a)o a business &artner of mine sent me the attached &oem+ t!s not that had ne(er seen it before - because had - as many of you may ha(e as well+ t wasn!t because it was an es&ecially difficult transaction we were worin) on to)ether+ t wasn!t because he was contem&latin) >uittin)+ e sent it to me to )i(e to some of my other business &artners who were ha(in) a tou)h time of it+ e wanted them to )ain some ins&iration from the words+ 7hat the other &artners did tae ins&iration from was who sent it to me+ t came from a G3-year-old youn) man from Dublin+ e was a Chartered 'ccountant @CP'A formerly from a K.i) Fi(e! firm+ e was no lon)er in the accountin) business+ e was tryin) to consolidate &ubs, but, in his case, it was a bit more tricy+ ;ou see no &un intended he is almost totally blind+ e sees, at most, dar shadows+ e has )one to the wron) office buildin): he has sat in the wron) rece&tion room: he has fallen in o&en construction &its, yet he doesn!t feel sorry for himself+ e wants to be &art of the solution instead of &art of the &roblem+ e wanted to tr y and hel& me hel& others+ e is a )i(er not a taer+ Peo&le often as me why e(er started coachin) in IIG+ Fortunately ha(e met a number of such outstandin) human bein)s+ .ein) a hi)h &erformance &erson doesn!t only relate to money and richesH ie: the Po&e, Nelson Mandela+ Don!t )et me wron), !(e taen the riches route and !(e been fortunate enou)h to ha(e e#&erienced notoriety and &ublicity alon) with that success, but, for those that ha(e followed my career closely, you now !(e also e#&erienced the a)ony of defeat+ Today was a day for the )ood )uys lie Pete Sam&ras+ .ut the real truth is the )uys/)als lie my blind &artner - T4N; 7'8D - are the real heroes we should model oursel(es after+
To 4ur $%, Daniel S Peña, Sr+ P+S+ T4N; has been trainin) the last year to re&resent his country in the 4lym&ics+ e!s a 11 and a 011 meter 8eal M'N+
ISSUE #12 From Dan Peña - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friend and SubscriberH 7ell, my first boo si)nin) is now &art of history+ n this case, a number of bad analo)ies come to mind for reasons that will become ob(ious when e#&lain @brieflyA what ha&&ened+ 8ain2 8ain2 8ain2 'nd no boos2 ;es, they couldn!t find ";our First 11 Million" anywhere+ Shit ha&&ens2 The boo si)nin) was desi)ned to be an outdoor e(ent with a band, etc+ 'bout the time it was to be)in, it &oured down bucets2 Shirley McClain!s &art was indoors @seatin) for about 31A, while the other authors were rele)ated to suffer from an outburst of nature+ t was stran)e to be on the other end of the celebrity continuum+ t!s been a lon) time2 That will chan)e2 'nyway, write not for sym&athy - assure you2 write this non-interim newsletter edition to illustrate a cou&le of interestin) &oints while still fresh in my mind+ 't the e(ent recei(ed (ia Fed6#, &ersonally deli(ered by the .orders Mana)er =ust before the rain started, the followin) letter+ The timin) was &erfect+ The letter is self-e#&lanatory+ 4ctober 3G, 3111 Dear Mr+ Pena, U+ am a newsletter subscriber of yours+ was ho&in) to be able to come out to %os 'n)eles and meet you &ersonally at .order!s+
reasons+ e is looin) for &eace of mind+ 7ith the =ob he has, !m sure he deser(es &eace of mind2 The )entleman from Cle(eland is attem&tin) to use his 30 years e#&erience in real estate to establish a new ser(ice to create a . to . internet )iant+ Subscribers for G wees and 0 months res&ecti(ely+ t was interestin) to tal and s&end time with them+ Too bad the weather &robably &recluded more from attendin)+ 4n the other hand, if rain and thunder ee&s &eo&le from somethin) they want, $%' &robably isn!t for them2 7hile a&&reciate the o&&ortunity to interface with subscribers, it em&hasied the &oint to me how you can ne(er underestimate how screwed u& e#ternal e(ents can mae your &lans, i+e+, had s&ecifically reor)anied my calendar to mae this e(ent+ ha(e nai(ely thou)ht cuttin) bac on my schedule would &reclude such occurrences+ !m sure there will be other occurrences as an author/cyberman2 To our $uantum %ea&, Dan Peña P+S+ 7hen )ot home, had this email+ Dear Dan, !m sorry that did not now that you were )oin) to ha(e a boo si)nin) today @1/3A in %'UU was =ust in Scottsdale, 'O until the 3JthU++ 7ould you be )ood enou)h to indly si)n a boo for meU++and char)e the cost of the boo and mailin) e#&enseUU !m en=oyin) your newsletter (ery muchUand am always reminded of your )reat tal at the 8on "Q" ** Seminar in San Die)o a cou&le of years a)o+ thou)ht at that time, and still do, that 8on was e#tremely fortunate to ha(e had you and 8ich Powelson s&ea at that seminar+ ;ou may not recall understandably, since you meet so many &eo&le at those )atherin)s all o(er the world, but went u& to you after your tal and told you how much en=oyed your tal and how well felt could relate to youU+with your "down to earth, strai)ht talin), to the &oint and no holes barred" style+
ISSUE #13 From Dan Peña - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friends and Subscribers, t!s JH11am at 9uthrie and !m watchin) CNN!s and ..C!s co(era)e of the uite a cultural difference2 don!t need to tell you what ha&&ened+ Too close to call, etc+, etc+ The ni)ht and mornin) ha(e been filled with a number of statements and &redictions based on what was considered )ood information+ %ater this ")ood information" was called bad, based on a number of factors+ @This letter is not )oin) to comment on the election &rocess+A Sound familiar2 t should2 This is how life and business are e(ery day, i+e+, information - discussions - recriminations - new information - new decisions and actions2 o&efully better ones2 's continue to listen, thin and try to write this letter @at this hourA, !m reminded of my business career+ More im&ortantly, it (erifies what !(e told countless seminar attendees since May IIG and ha(e told business collea)ues since I1 and in the si#ties as a youn) 'rmy 4fficer, "Ne(er underestimate how wron) you can be," and "Shit ha&&ens2" This uences f it were only that way in business2 Success would increase >uantumly2 )uarantee it22 n most instances, &eo&le tae the easy way out @normally a less risy scenarioA and/or )i(e u& too easily+ The election results ha(e )one bac and forth all ni)ht, i+e+, headlinesH "9ore wins Florida": "Florida now too close to call": "9ore concedes": ".ush wins Presidency - Not yet" and on and on2 'nd now "Florida must 8ecount 5otes2" !m sure (oter fraud will be ne#t2 This wee alone !(e seen se(eral situations where &eo&le )a(e u& and/or too the easy way out+ The &roblem in business, normally, is when an indi(idual concedes defeat @as did 9ore at one &ointA they can!t, or wont, )o bac and re(erse their decision as 9ore did+ ?ust thin if 9ore does win2 ere!s an e#am&le of KShit a&&ens! e(en at the hi)hest le(elsH 4ne of the senior e#ecuti(es wor closely with at an international multibillion-dollar &ower house had his life chan)ed in the &ast few days+ had two late ni)ht con(ersations with him+ waled him throu)h the (arious scenarios+ hel&ed outline a )ame &lan that would still benefit him, etc+ e made decisions based on what was &ercei(ed to be as )ood information - after all it came from the C64 of 7orldwide 4&erations+
hi)hly re)arded and is bein) )roomed to be the C642 4ne of the words constantly used to describe this election is "C%FF'N968"+ %adies and 9entlemen, .oys and 9irls, let me )i(e you some .9 newsH "'%% TN9S N .
ISSUE #1) ueness of most su&er hi)h &erformers is bein) )enuine, resolute, unswer(in) as trendsetters and )oin) a)ainst con(entional wisdom+ i)h &erformers ha(e set the ideals of
leadershi& de(elo&ment and understand the nuance that not ha(in) is no e#cuse for not )ettin)+ The difference is they now and wal the tal fully com&rehendin) the decisions taen and reason for main) them+ The sim&le a#iom - a &ay &rice to action is understood by (ery few but sums u& the whole issue+ Bnown facts are no one is drafted into o&&ortunity+ 4ne of the traits of leadershi& de(elo&ment is the willin)ness to (olunteer2 For ultimate accountability, (olunteerin) means to be a hi)h &erformer nowin) what to (olunteer for+ This is not the details but the sacrifices in macro terms+ Pro&er leadershi& de(elo&ment can achie(e success but success is sub=ecti(e and means different thin)s to different &eo&le+ Much lie war, a su&er hi)h &erformance is a series of battles that are not won but the essence is either to hunt or be hunted+ 'PP; 4%D';S2 's sit here, Christmas 6(e, Christmas Day and .o#in) Day @December 3thA at 9uthrie, watchin) the snow fall while sendin) thanin) and some not so thanin) fa#es and 6-mails around the world, reflect u&on the difference between the )rand successes and failures !(e witnessed+ Since enterin) the &rofessional world of 6#ecuti(e Coachin) o(er se(en years a)o, !(e had thousands )o throu)h my (arious &ro)rams+ !(e wored with hundreds &ersonally and doens indi(idually and a few as if were their father or bi) brother+ 's many of you now, coached and mentored for twenty years before de(otin) my full time to it+ !(e been &ri(ile)ed to mae a few )reat friends lie the 5erdiers and 7hi&&les, in recent years, and to wor with some of the )reat minds and s&irits on this &lanetH a founder of a Fortune 01 Com&any that built a EG1 billion em&ire, in years: the heir a&&arent to one of the to& 30 com&anies in the world: a man that ran for the ueness of the (ery best of the su&er hi)h &erformance indi(iduals listed abo(e is )enuine and resolute R almost always unswer(in)2 .ein) trend setters2 9oin) a)ainst con(entional wisdom2 These (ery unusual &eo&le understood Knot ha(in)! is no e#cuse for Knot )ettin)!+ They understood
the difference between nowin) the &ath and walin) the &ath R they "7al their Tal2" Most im&ortantly they understood what "si)nin)-u&" and "nowin) what your si)nin)-u& for" really means+ For those of you that ha(e heard me s&ea or read my boo ";our First 11 Million" now a(ailable on 'maon+com now s&ea ad nauseam about a &rice that must be &aid R "a &ay &rice to action+" 'll too few men and women understand this sim&le a#iom+ No one is drafted into this o&&ortunity+ ;ou must (olunteer2 ?ac 7elch @96A, Fi)hter Pilots, 8ichard .ranson @5ir)inA, 'stronauts, %ou 9estner @.MA, Seal Team or S'S Members all (olunteer2 For ultimate accountability, you must (olunteer to be a hi)h &erformance indi(idual nowin) what you are (olunteerin) for2 Certainly not the details, but the sacrifices in macro terms2 5irtually all mentioned abo(e had mentors and/or e#ecuti(e coaches R as did for more than twenty years, and as still act for a few now+ Coincidentally, as further reflected u&on whom has been more successful than others recei(ed the attached two letters+ ronically they are both from the Netherlands+ recei(e many "Than ;ou!s" in a year2 n fact, another Dutch &artner, u&on successfully com&letin) his first ac>uisition on th December, by K&hone, said: "Than you for &uttin) u& with me Dan + + + " 4f course now he has to run the business R the always underestimated difficult &art+ .oth letters reflect similar sentiments (is-Z-(is accom&lishin) )oals+ 's this new year be)ins, wish you the same le(el of success as they ha(e already achie(ed R and more 2 This will mean different thin)s to each of you+ More im&ortantly wish and &ray for you to assume their same le(el of commitment to &ay the &rice2 Some of you readin) this ha(e already really )i(en u&2 Start a)ain R it!s a New ;ear2 Some are on the fence R suc u& your &antihose and char)e2 Much lie war, a su&er hi)h &erformance life is a series of battles, as illustrated by the followin)H 'll battles are not won, but in the words of the current C64 of 5odafone @9entA, you are either in a "unt or be unted" mode+ ronically Mr+ 9ent is a &ro&onent of the use of 6#ecuti(e Coaches R he uses one himself+ The Chairman / C64 of 5odafone is not a uisitionsA R one in March and one in 'u)ust+ There are N4 -Day $%', 8aisin) Ca&ital, Deals/'c>uisitions Seminars, 7orsho&s or s&eain) en)a)ements scheduled at this time+ This is not liely to chan)e as noted in earlier Newsletters+ am now an 6#ecuti(e Coach to the Cor&orate 7orld @or as one of my fa(orite elites calls me R his !secret wea&on!A and the entre&reneur that has a &ro=ect intri)uin) enou)h to entice me and which can still suc me into the (orte# of an early &hase deal2 4f course, my award winnin) $%' &roduct, includin) ";our First 11 Million", is still a(ailable to all interested in achie(in) their own $uantum %ea&+ 4ur $%' "Chat 8oom" will be o&erational in due course+ P+P+S+ 's &romised, as &art of the new $%' Millennium nternet Format, a KFree Consultation Pro)ram! will be initiated R 1+1+1+ 4nce a >uarter, the subscriber who introduces the most new subscribers to the newsletter, will recei(e one hour!s F866 consultation+ The new subscriber must mention your name+ This one hour consultation worth EG,111+11, can be used in &arts, or, all at once o(er a )i(en year+ 'lternati(ely it can be used to reduce the cost of any $%' seminar+ Monthly winners of the introduction &ro)ram will recei(e my best-sellin) boo ".uild ;our 4wn 9uthrie" F866 [a \0+11 (alue+
;early winners will recei(e a F866 three-day "6#ecuti(e Castle Seminar" at 9uthrie Castle R a EI,111+11 (alue+ n addition for e(ery ";our First 11 Million" &urchased, on my website, a 1 discount on the "6#ecuti(e Castle Seminar" will be )i(en+ 'll the abo(e incenti(es are e#clusi(ely for the benefit of $%' nternet Newsletter subscribers 4N%;+ S&ecifics on the new $%' Millennium nternet Newsletter &ro)ram will be &osted on my website S44N, but the race be)ins 1+1+1+ $uestions can be forwarded toH mailYdan&ena+com ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]] Dan Peña 9uthrie Castle .y Forfar 'n)us Scotland DD 3TP
ISSUE #1 From Dan Peña - 6#ecuti(e Coach and Mentor for The New Millennium Dear Friend and SubscriberH ')ain, ha&&y New ;ear2 !(e recei(ed a number of re>uests in recent days (is-a-(is what thou)ht of the comin) year+ nterest rates* The stoc maret* 8ecession* The economy* For those of you who read the
6conomist, you now all these ty&es of thin)s refer to the same thin), more or less+ These >uestions were only e#acerbated by Chairman @Federal 8eser(eA 9reens&an!s recent /3 cut in interest rates in the <+S+ The marets in )eneral too a real batterin) @as they say here in the uarter, the subscriber who introduces the most new subscribers to the newsletter, will recei(e one hour!s F866 consultation+ The new subscriber must mention your name+ This one hour consultation worth EG,111+11, can be used in &arts, or all at once o(er a )i(en year+ 'lternati(ely, it can be used to reduce the cost of any $%' seminar+ Monthly winners of the introduction &ro)ram will recei(e my best-sellin) boo ";our First 11 Million" F866 [a EJ11+11 (alue+ ;early winners will recei(e a F866 three-day "6#ecuti(e Castle Seminar" at 9uthrie Castle R a EI,111+11 (alue+ n addition, for e(ery ";our First 11 Million" &urchased (ia my website, a 1 discount on the "6#ecuti(e Castle Seminar" will be )i(en+ 'll the abo(e incenti(es are e#clusi(ely for the benefit of $%' nternet Newsletter subscribers 4N%;+ S&ecifics on the new $%' Millennium nternet Newsletter &ro)ram will be &osted on my website S44N, but the race be)an 1/1/1+ $uestions can be forwarded toH mailYdan&ena+com
6M'%H last year in 4ctober, when you told us "we were &oor2" will ne(er for)et this &hrase2A+ ha(e a bi) &icture of you, on my des, =ust in front of me @the &icture on &a)e 300 of your ".uildin) ;our 4wn 9uthrie", "Dan )i(in) one of his $uantum %ea& seminars"A+ 'nd ha(e &ut )iant affirmations near this &icture, such asH "dedicate yourself," "stay laser-beam focused," "you can do it," "&ay the &rice of your )oals," "&lan, im&lement and e#ecute+" 7ith this strate)y, can assure you it!s difficult to for)et you, your commitment and your stren)th2 'nd it wors2 .est re)ards, %+M+
ISSUE #1. T/e tctics $f s%rviv 0c6e 0" s$%n 7ers$nit" 8eve$&ment 7n
' &ro&er &ersonality de(elo&ment &lan baced with a sieable amount of e#&erience a lot can be achie(ed+ Most often there is a tendency to tae the easy way out as it =ustifies any self-ser(in) a)enda+ To )ain that e#tra ed)e, as &art of a &ersonality de(elo&ment &lan there has to be an uninhibited nature to be mentored by e#&erienced &ersonnel+ Mentorin) offers ad(ice continuously as hi)h &erformance &eo&le understand the tactics of sur(i(al+ .ut sometimes bein) &re&ared for the une#&ected maes &erfect sense as thin)s can )et un&redictable in business+ Des&ite ha(in) a &ersonality de(elo&ment &lan a lot de&ends on the si)nificance of the &roblem+ 8ealiin) what is ri)ht and wron) and )oin) beyond the actual dis&ute maes the bi) difference+ This is reco)nied by &eo&le with hi)h &erformance careers irres&ecti(e of economic circumstances+ Today liti)ation has been acce&ted as a business tool and with e#orbitant court costs most o&t out of this a&&roach not because of financial weaness but because the emotional ban account runs out way before the financial one+ 'cce&tance is difficult on this issue and can be outside the comfort one+ 6(eryday worldwide many deals are struc+ Most of them are cleared for (arious reasons but they are no lon)er e#&editious or con(enient+ Further, accom&lishments are always &ercei(ed differently and life is fairly sim&le+ 4(erall, it reflects on the &ersonality de(elo&ment &lan where honorin) the &romised word maes a difference thou)h it can be difficult+ "Duty - onour - nte)rity" 's sit here in 'mersfoort, olland, watchin) the snow fall, answerin) 6-mails and fa#es durin) a brea, reflect on why !m here, and more im&ortant, how )ot here and what my readers could learn from this e#&erience+ 8ecently, Dec+ th 3111, my youn) and ine#&erienced &artner and closed on an ac>uisition here in olland+ Due to the 5C, the assets of this 31-year-old com&any were &urchased in a way that wasn!t en(isioned and necessarily )ood for all directors e#ce&t the founder+ Fortunately, they belie(ed in him because he had dealt in confidence2 @ wonder why*A &resume they felt since they hadn!t met any of the directors @throu)h a >uir of fateA or me, it was easier to deal with the youn) founder only+ They had only met our accountants and lawyers who, &robably, too the easy way out since they hadn!t been &aid in more than two years+ 's you now, most &eo&le will almost always tae the easy way out and can =ustify any self-ser(in) a)enda+
The ori)inal cor&orate set-u& ne(er memorialied had to be abandoned+ The new entity was set u& in a hurry and couldn!t be documented since it was a)reed J hours before the close: i+e+H &ro&er ownershi& was not recorded in the way &re(iously a)reed+ So, &otentially two years of wor could be taen away from the other .oard Members because the 5C didn!t see any use for them in the deal, es&ecially since nothin) was in writin)+ n fact, they didn!t want me in the deal either for the same reason+ Now that they ha(e met me, they don!t lo(e me, but they do see and understand why my youn) Dutch &artner wouldn!t let the deal )o forward without me2 e introduces me as "my Mentor and Chairman"2 actually lie that title2 My &artner stron)ly said "Dan!s in the deal at G0"+ The deal closed with considerable chan)e at the holdin) com&any le(el+ The other .oard Members )ot their shares, and my ownershi& was u&held and only now is bein) documented after the fact+ The moral to this story is my 3I-year-old &artner u&held his ori)inal a)reement as had for more than two years+ There were no chan)es to our deal, e(en under )reat &ressure to him, i+e+, ima)ine the entire deal colla&sin) because you e&t your word2 Notwithstandin) it too him 3 months to close his first deal continued to ad(ise him because he continued to listen to me+ ' deal is a deal is a deal - as you!(e heard me say ad nauseam2 7hether written or a handshae+ i)h &erformance &eo&le don!t chan)e deals in )ood or bad times+ Thou)h &eo&le will ad(ise, >uietly, to do so+ i)h &erformance &eo&le fi)ht for what is theirs e(en if it costs them dearly+
e#&erience couldn!t afford2 7hen a mentee doesn!t listen to me, always thin of that e#&ense+ P+P+S+ !(e =ust entered into, &otentially, a E011 million transaction with a &artner !(e been in(ol(ed with for se(en years+ 7e ha(e ne(er had a written a)reement+ t!s not liely we!ll )et one in time for this deal either, but, as he said, he "trusts me and !(e always been fair2" That wouldn!t be a bad thin) to ha(e on my tombstone+ P+P+P+S+ !(e =ust been informed my liti)ation record went to @and !(e really lost countA about 31 wins and 1 losses+ ' case the &artner in the abo(e P+S+ and ha(e fou)ht for almost two years was ad=udicated in our fa(our today+ stand to )et, &robably, no money out of the deal+ 's indicated, o(er two-thirds of my liti)ations ha(e been o(er &rinci&al not money2 This fi)ht has been for the "others" in(ol(ed in the multimillion dollar transaction+ 's usual, the ban and the other wealthy indi(iduals in the deal were the only ones to show interest+ 4f course, they were fi)htin) for their own interests2 P+P+P+P+S+ 8emember as &romised, as &art of the new $%' Millennium nternet Format, a KFree Consultation Pro)ram! was initiated R 1/1/1+ 4nce a >uarter, the subscriber who introduces the most new subscribers to the newsletter, will recei(e one hour!s F866 consultation+ T6 N67 S<.SC8.68 M
ISSUE #14 9r$m 8n 7e: - ;T/e <$ne"
Dear Friend and SubscriberH thin this res&onse to my recent newsletter and my re&ly is worthy of a newsletter in and of itself+H Dear Mr+ Pena, 's &er your comments: ^^;ou should chec with a lawyer, but what you did may be ille)al2 went to my lawyer today and he said the &osition am in stins but is not ille)al+ e will chec into it further with a securities lawyer to be sure+ f it is ille)al then will follow his &rudent ad(ice and do dama)e control, which ho&e and &ray is not too costly to my )ood name or my &ocet boo+ ^^ ;ou are chan)in) the deal if it was /G, /G, /G before 2 ^^ f you said it would be e(enly s&lit you are chan)in) the deal+ ;ou are ri)ht, chan)ed the deal+ $%' demands that ee& my word in a deal e(en if it is a bad one+ No e#cuses, end of story+ went bac to them and unchan)ed it - to the ori)inal deal+ said would not be a &art of anythin) ille)al thou)h+ still will not handle any of their funds+ My financial
situation is &recarious and they are better ser(ed by the liaison &erson+ ^^t!s not about betrayal+ t!s nai(ete and or )reed e(en at the subconscious le(el+ t!s also natural+ Don!t be hard on yourself 2 ;ou can always )o bac to the ori)inal deal 2 lie the way you &ut that+ 9ul&+ hate lie hell to say it but did three deals last year and none bore any real wealth+ The first, a dot+com went dot+death+ owned 1+ Then the one we are talin) about now which needs no further introduction+ The third is su&&osedly delayed until the second >uarter of 311* ho&e to buy a Castle seminar with those &rofits+ The year before in III started a )eneral contractin) com&any which is now )oin) broe+ had better )et it to)ether or will be banru&t in three months+ No honor in that+ 7ith that said ha(e a com&any to sa(e and ha(e to )o+ Than you for your sa)e ad(ice+ a(e a su&er weeend+ Sincerely, ? 's said in my last letter, many deals will be made in a lifetime of business+ Peo&le will =ud)e you o(er a lifetime+ recei(ed this res&onse from a $%' follower This man )ot in(ol(ed with an o&&ortunity and in(ol(ed some other &eo&le, as ha&&ens more often than not+ 4thers )et in(ol(ed because you need money and/or other assistance+ n this &articular case, one of the indi(iduals in(ol(ed was a con man - a dishonest &erson2 6(entually, the dishonest &erson was found out+ The business o&&ortunity in(ol(ed a &ublic com&any+ 8emember, &ublic com&anies ha(e s&ecific rules and re)ulations+ 7hen the writer disco(ered the con man, he attem&ted to mae the wron) ri)ht by e#&osin) the con man+ The &ublic com&any @a&&arently out of )ratitudeA )a(e the writer com&ensation for what he did+ e then shared the com&ensation e>ually with his two &artners - a husband and wife+ %ater he discussed with his &artners what if he was to recei(e more com&ensation from the )rateful &ublic com&any as &romised+ The writer su))ested they s&lit whate(er was recei(ed 01/01 as o&&osed to e>ual thirds+ The rationale was the wife really didn!t do anythin)+ 4f course there is always a reason why the deal should chan)e+ 'nd normally it!s some form of "they didn!t really earn it", etc+ 4b(iously, the husband/wife were outra)ed+ The writer then said he would allow the &ublic com&any to determine who would )et what, and he a&olo)ied for chan)in) the deal+ 4f course, the dama)e had been done+ ad(ised the writer that what he did may not be le)al (is-a-(is the &ublic com&any, and he was chan)in) the deal+ e went to his lawyer and admitted he had chan)ed the deal+ e also said the deal would be the ori)inal one which was a)reed+ The writer is financially in bad sha&e, so he &robably needs money+ This is one of the bi))est reasons for chan)in) a deal H money / )reed2 )o on to say "t!s not about betrayal+ t!s nai(ete and/or )reed at the subconscious le(el+ t!s also natural+ Don!t be hard on yourself2 ;ou can always )o bac to the ori)inal deal2"
don!t thin throu)h all the &ermutations2 7e, more often than not, don!t factor in the absolute downside because we con(ince oursel(es the other side will tae less than a)reed rather than blow the deal u& - lea(in) nothin) for e(erybody+ That!s a bad )amble with a hi)h &erformance &erson2 nte)rity has no (alue2 To ;our $uantum %ea&, Dan Peña PS+ 'll mentioned in my last letter subscribe to my internet newsletter+ 4f course, you all &robably new that+ PPS+ 'nother res&onse from my last newsletter came from a former Dutch &artner+ e is doin) well and &osted his email to my website under Testimonials+ The funny thin) is miss him and his outra)eous actions too2 86SP4NS6 S%47 T4 F866 'D5C6 PPPS+ 8emember as &romised, as &art of the new $%' Millennium nternet Format, a KFree Consultation Pro)ram! was initiated R 1/1/1+ 4nce a >uarter, the subscriber who introduces the most new subscribers to the newsletter, will recei(e one hour!s F866 consultation+ T6 N67 S<.SC8.68 M
ISSUE #1> 8isc$verin Investment services n Investment strte" fr$m t/e fme c$n$mertes
n(estment Strate)y is an indi(idual &rocess and with in(estment ser(ices reachin) new realms, there is always room for inno(ation+ ' &ro&er in(estment strate)y is from 96!s out)oin) C64+ The in(estment strate)y ada&ted was Fi#-close-or Sell and when 96 e#&ands business the &osition without com&romise should be No+ or No+3 in the maret+ This in(estment ser(ice ideolo)y actually tests one!s stren)th+ Founders and entre&reneurs ha(e &ersonal attachment to &roducts and Fi#-Close-or Sell in(estment strate)y is the hardest to swallow+ Facts are, it is im&ossible to close or sell unless more (alue is attached than ima)ined+ The misconce&tion is to assume that sellin) a business is easy+ 4(erestimatin) the &roduct!s worth, racin) to turn rich o(erni)ht in a sin)le transaction leads to hi)h &ricin) and becomin) a lon)-term owner or in(estor+ n the &rocess, the maret is lost and time s&ent fi#in) it which arises only when thin)s )o wron) but ne(er when )ood+ This is where bein) No+ or No+3 comes into &lay+ 6liminatin) )uesswor and fi#in) hel&s achie(e to& &ositions+ 'n in(estment ser(ice is not an o(erni)ht occurrence+ t taes sometime before sha&in) u& with com&etiti(e &ositionin)+ 'ny dream mi#ed with &assionate obsession and baced with )rit ad(ocates the 9ates! theory Thin it, Do it, Fi# it - a basic interface with 96!s Fi# it, Close it, Sell it+
Drawin) the correlation from baseball, o&&ortunities are &lenty for home runs and strie-outs+ ' &ro&er in(estment ser(ice teaches scorin) home runs - )et out of the du) out, wal to the &late and swin) away+ Chances of missin) are hi)h and that!s reason for &eo&le to stay in the du)out of life and don!t &artici&ate2 FQ - C%4S6 - 48 S6%%2 .6 48 32 t!s been a few wees lon)er than e#&ected since my last newsletter+ had an une#&ected serious illness within my immediate family which e&t me occu&ied+ e!s 3 years old and loos lie me, so you can )uess who it is+ Thanfully, all is mo(in) toward a better scenario+ Durin) this ordeal, had time to reflect on the successful transactions !d been in(ol(ed in durin) recent years (is-a-(is the real tra)edies+ then thou)ht about them indi(idually in relationshi& to 96!s )reat out)oin) C64, ?ac 7elch+ e has run 96 e#tremely successfully for twenty years usin) two ma=or benchmars, @A Fi#-Close-or Sell and @3A whate(er business 96 was in had to be either or 3 in its maret+ 4f course, the former re>uires e#tremely &ainful decisions which test a &erson!s stren)th+ Fi#-Close-or Sell is the hardest for the normal entre&reneur to deal with because it!s normally its baby, i+e+, the founder would find it difficult, if not almost im&ossible, to close it and/or sell it @unless it was for a lot more than you e(er ima)ined+A don!t need to e#&lain the closin) issue+ t should be self-e#&lanatory+ Turnin) the ey on any business is e#tremely difficult2 s&ea from e#&erience+ Sellin) a business should be easier, but often is not+ 7hy* 7ell, we all thin our baby is worth more than it is, and we normally are tryin) to )et rich off one transaction so we &rice it too hi)h and become a lon)-term owner/in(estor+ 7e may e(en miss the maret com&letely+ ha(e done this myself a few times2 Therefore, we wind u& continuously tryin) to fi# it+ 'nd we normally fi# it when thin)s )o wron) not when thin)s are )ood, tryin) to im&ro(e whate(er we are doin)+ Many times ha(e heard, "f it!s not broen, don!t fi# it+" This is wron)2 This is where bein) or 3 in a &articular endea(or comes into &lay+ f you can fi# whate(er you are doin) to achie(e the or 3 &osition, lie 96, the )uesswor is taen out of the e>uation+ t!s &ure numbers at this &oint+ Few do it2 7hen you loo at 96!s formula, and it was deri(ed before 7elch too the helm, it becomes somewhat easier to understand 96!s tremendous success+ 'nd don!t for)et 96 has had a stream of )reat C64!s lon) before 7elch+ t!s hard for the normal &erson to ima)ine stri(in) for the or 3 &osition in maretin), or )ettin) out+ 6s&ecially ha(in) to, &erha&s, =ust close your o&eration down+ 7ell, dear friends, the men and women who run these or)aniations aren!t "normal+" saw a mo(ie recently on T5 call "Pirates of Silicon 5alley+" t told the storey of .ill 9ates and Ste(e ?ob and their &artners in the early days, circa I0, and into the late I1!s+ ended u& buyin) the (ideo from 'maon+com+ t!s an incredible story of dreamin) mi#ed with &assionate obsession laced with a )ood deal of "true )rit+" t was (ery tellin) how they outmaneu(ered .M and others+ hi)hly recommend it+ Thou)h not mentioned in the film, 9ates su&&osedly has a theory or &rece&t that says Thin it, Do it, Fi# it2 t basically interfaces with 96!s Fi# it, Close it, Sell it in an obtuse way+ 9ates nows his stuff doesn!t always wor2 n retros&ect, o(er the years, lie others, !(e allowed myself to han) on too lon) with se(eral entities+ n hindsi)ht, , lie many others, ha(en!t been able to close as many entities down as should ha(e+ Therefore, , too, ha(e rele)ated myself to tryin) to fi# stuff when it mi)ht not ha(e been fi#able+ The main difference is !(e been in(ol(ed in doens and doens of o&&ortunities, therefore )i(in) myself and my collea)ues o&&ortunities for home runs, which were few and far between but still more than if hadn!t2 8emember with home runs come strie outs+ For decades .abe 8uth, the
former 'merican baseball home run in), was also the leader in strie outs+ n fact, thou)h his total home run record was broen by an 'aron many years a)o, 8uth still holds the strie out records+ The 9ateses, 7elches, ?obs and 8uths understand you can!t hit a home run unless you )et out of the du) out, wal to the &late and swin) away+ ;ou can!t hit it out of the &ar unless you swin) and swin) and swin)2 Bnowin) (ery well you will miss most of the time+ This, of course, is why &eo&le stay in the du)out of life and don!t really &artici&ateUand that!s too bad2 To ;our $uantum %ea&, Dan Peña PS 4ur ?anuary internet newsletter winner was Nic 9altos of Switerland+ e will recei(e F866 my boo, ;our First 11 Million+ Con)ratulations Nic2 f my memory is correct, he was an 4lym&ian in ice hocey2 e doesn!t need a free anythin)+ Nic has followed $%' &rece&ts since II+ e has been (ery successful+ e!s one of my successes2 PPS For those of you who ha(en!t checed, there are now three @instead of oneA Tests for Success on my website+ The best scores will be eli)ible for free $%' &ries as well+ PPPS+ 8emember as &romised, as &art of the new $%' Millennium nternet Format, a KFree Consultation Pro)ram! was initiated R 1/1/1+ 4nce a >uarter, the subscriber who introduces the most new subscribers to the newsletter, will recei(e one hour!s F866 consultation+ T6 N67 S<.SC8.68 M
ISSUE #15 From Dan Peña - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friend and SubscriberH 's most of you now, because of a ser(er )litch, thousands of e#tra ssue Newsletters were sent out+ a&olo)ie22 Notwithstandin) this bi) screw u&, recei(ed some funny res&onses and heard some )reat success stories+ The followin) email has been cleaned u& a bit for those of you who allow your children to read my sa)e ad(ise+ The interestin) &oint about this testimonial is it is written by a woman in business which is dominated by men - and she o&erates in the heart of the South2 She!s a remarable &erson, as you can tell from her cry&tic writin)+ ha(en!t seen her in a few years, but ha(e e&t in touch throu)h emails and calls+ miss her candor in a world filled with &eo&le talin) cra&2 7hat really struc me while readin) her email in the middle of a )reat rain storm in %', was my lac of distribution of my $%' &roducts+ 's some of you who read my website now, many of my &roducts ha(e won national awards - the co(eted Telly 'ward for 6#cellence+ than ?+ C+ 'rner for &roducin)/directin) them2 MM’s Testimonial:
I had studied marketing techniques and m !usiness was growing quite rapidl" !ut what I lacked was the clear understanding o# what it takes to actuall run a multi$million dollar !usiness and that’s where %an &ena came in' I went to one o# his three da $ !low our hair !ack $ !oot camp $ wake(up seminars" and I was ne)er the same' %an was a!le to !low awa the !ullshit and let me see clearl what was required in order to reall succeed and hang on to a #ast growing compan' *is hard core approach" e)en though I wasn’t sure I could take the three das o# shock" drilled a realit home that has !een priceless' The !ottom line is ou' +o one else to !lame #or anthing" ,ust -O.' *is separation o# the du#us mentalit and the high per#ormance indi)idual made m li#e much easier to deal with' The realit is I am surrounded ! du#us people and the challenge is to get them to work as e##icientl as possi!le #or a high per#ormance person' I ha)e utili/ed %an’s techniques and stle man times' I trans#ormed msel# into a hard core !usiness person that continues to demand e0cellence' M decisions are now quick and m success has !een staggering' In a time when !usinesses are going !roke ! the hundreds" mine is growing at a 1223 increase o)er last ear' %an taught me ou had !etter !e a tough son$o#$a$!itch i# ou want to pla the game' %an also taught me that there are going to !e pro!lems" es" pro!lems and when ou get one sol)ed ou ha)e !igger ones' Once I understood that" I know longer got upset with pro!lems and ,ust worked #ast to handle them' +o other teacher" seminar or tape series had the !alls to tell me I had to !e tough" I’m going to ha)e pro!lems" !ig ones" and T*4T is what I M.5T understand and !e prepared to deal with i# I am going to thri)e in !usiness' Thanks %an #or the !ack!one' I# ou are serious a!out making our !usiness a success and learning what -O. ha)e to change in -O.65EL7 to make our !usiness soar" then %an &ena’s the man #or ou' Get oursel# a %ose O# %an8
n a recent in(entory count at 9uthrie Castle, was told many doens of lar)e crates of $%' &roduct had been unco(ered+ '&&arently, when closed my %' office in II, it was shi&&ed from the ue as&ects of followin) $%' &rece&ts such as buildin) your dream team, (arious editions of the G-Day and -Day $%' Seminar ta&es, and a lot more+ 'nother thin) that came to mind is the "GG Secrets" boo can now be downloaded in total for Free from the website+ 4f course, we still offer the hard co&y for those wantin) it @EJ+I0 for Shi&&in) and andlin)A+ The ori)inal ta&es recorded li(e &roduced many, if not all, of the most successful de(otees of $%' Methodolo)y, e+)+, the 5erdiers, 7hi&&le, Crum&, .ure, McCain, %e9rand, 8eecher, 'l(are, a)ue, Slan)en, Scott, Ste&henson, 5ar)as, Schaeffer, Dhillon, .aade, Cha&man, .adloe, Maynard, Connolly, and many others+ Don!t )et me wron), many mentioned on the ta&es started off lie rocets + + + and then crashed2 The $%' &rece&ts can show you how, but can!t ee& you moti(ated or from en)a)in) in self-sabota)in) acti(ities+ Most &eo&le who hear or read any coachin) material ne(er e(en )et started+ n fact, most &eo&le who buy moti(ational/coachin) &roduct ne(er e(en o&en it+ The &eo&le mentioned abo(e all )ot )reat starts, mostly due to $%' Methodolo)y+ Not many stayed the course+ Peo&le lie the 5erdiers, and a few others, are the e#ce&tion+ %ac of self-esteem and )reed to&s the list of reasons why &eo&le fall off the $%' trac+ t!s lie the ada)e about brin)in) a horse to water+ ;ou may be able to )et him to drin some but not stay at the $%' trou)h+ .uildin) )reat habits is not easy+ t re>uires belief system chan)es which come hard+ .ein) a chan)e a)ent is e(en more difficult now as our world continues to chan)e+ The &rece&ts recorded o(er the last few years are e#tremely wellfounded and still wor well if &racticed dili)ently+ To ;our @4urA $uantum %ea&, Dan Peña
ISSUE #2* From Dan Peña - "The Money Messiah" and Mentor/Coach for The New Millennium Dear Friend and SubscriberH "F%'S H M'8B6T C8'S" 's some of you may remember, wrote in ?anuary 311 my thou)hts on the maret in stoc res&onse to a subscriber!s >uestion+ don!t lie bein) correct when billions of all currencies are lost+ These statistics were true &rior to yesterday accordin) to, amon)st others, CN.C and CNNH J1 dot+com em&loyees )one 3J1 dot+coms )one EG+ trillion in maret ca&italiation @maret (alueA )one 00 of N'SD'$ (alue )one 1 of new enter&rises don!t mae it in any endea(or and )o out of business EJ0 billion lost in 4racle and Microsoft maret (alue from hi)hs 5C!s still &uttin) 31 of their money in hi)h tech - &ic and a#es @or hard assetsA had already written another newsletter on a different sub=ect, which will be broadcasted in due course+ The reason for me chan)in) my to&ic is ob(iousH n a down maret there are o&&ortunities that are not ob(ious to the ine#&erienced+ This is the time to )et the most e#&erienced sa)e ad(ice &ossible+ Now is the time for &eo&le who ha(e been there and done it2 <&maret ad(ice is any industry is easy2 6(en many of you made money in the bull maret2 'c>uisitions durin) this ind of en(ironment are an e#cellent way to )row your business+ Most &eo&le will be afraid to ste& u& to the &late+ Financial institutions will be looin) for a way out, es&ecially if the mana)ement team has a &lan based on a down-to-flat maret+ Sto& what you are doin)+ Thin what you could do - now - (is-a-(is the e#istin) maret en(ironment+ f you don!t now, find someone that does N472 This maret en(ironment won!t last fore(er+ Tae ad(anta)e of it now+ Times lie this don!t ha&&en that often+ .ac in the late nineties used to say, based on my research, while s&eain) on both sides of the Pacific and the 'tlantic, the followin)H @A More than 1 of all money worldwide is mana)ed by &eo&le under G1 and about 1 of that money is mana)ed by &eo&le under 3 - er)o, they don!t remember the crash of I+ @3A The a(era)e bull maret, since they ha(e been ee&in) records, lasts about G1 months+ 'r)uably there has been an u& maret since 'u)ust I3+ f you don!t belie(e me, loo at a lon)-term chart of the ma=or stoc a(era)es+ 7hat does that tell you* 8emember, was sayin) this in the late I1!s2 7hat about now* @GA had other salient remars reference the cash flow, &rice earnin) ratios, and other benchmars+ 'll indices were sellin) well abo(e historical a(era)es+ ?ust lie early 3111 and e(en early 3112 The recent correction occurred after a ma=or correction of last year+ 7hen made remars such as the abo(e, was told by the &undits it was a new era+ e(en read worldwide economies were so so&histicated, i+e+, instant communication, etc+, bear marets weren!t &ossible or e(en necessary anymore2 4f course, lau)hed and said, let!s wait and see2 7ell, here we are on G March 311+ @G is my fa(orite and lucy numberA ow do you feel* Smart*
Those that tae action will loo bac u&on these times fa(orably+ Those that don!t tae action will ic yoursel(es2 The &undits are sayin) stay in cash2 Financial institutions will be looin) for e#&erience - not the ne#t youn) .ill 9ates+ 8emember, this will not last fore(er+ Nothin) does2 To your $uantum %ea& Dan Peña PS Notwithstandin) my current &osition on s&eain), !m considerin) doin) a "Maret Crash Me)a 4&&ortunities" worsho& based on the current needs of newsletter subscribers+ Perha&s one in the
ISSUE #21 From Dan Peña - 6#ecuti(e Coach and Mentor for The New Millennium Dear Friend and SubscriberH 6arlier this month before the stoc maret crash of 311, had, for the first time in a while, an o&&ortunity to meet with a few old friends !(e nown for more than twenty years each+ Thou)h the day started with a meetin) with one of my
ha(e these three relationshi&s stood the test of time* 7hat did do differently* n reality don!t now, thou)h didn!t always a)ree with them, always lied them as indi(iduals, had fun with them, res&ected them, and, more im&ortantly, trusted them com&letely2 t!s funny what you thin about when you ha(e some e#tra time on your hands, as ha(e had in recent wees+ , alon) with my family, ha(e made some fairly dramatic decisions which directly affect the remainin) years of our li(es+ No, !m not becomin) a &riest or a (e)etarian2 Nor am )oin) to sto& writin) newsletters + + + thou)h, based on the recent screw u& in the transmission of ssue , a few of you mi)ht consider that a )ood thin)2 !ll write about the chan)es in the wees and months to come - but it re(ol(es around one of my fa(orite &rece&tsH hi)h &erformance &eo&le focus on the few, not the many2
ISSUE #22 From Dan Peña - 6#ecuti(e Coach and Mentor/Coach for the New Millennium+ Dear Friend and SubscriberH C8'S 'FT68M'T 7e ha(e now witnessed two wees of stoc maret action not many of you ha(e e(er seen+ Not that it hasn!t ha&&ened before, but because you ha(e to be old enou)h to ha(e li(ed it+ 'll who read this letter ha(e &robably heard of the 9reat Crash of I3I+ &ersonally li(ed throu)h the IG-J crash while on 7all Street+ That maret e&isode be)an with the Dow &eain) at =ust o(er 111 in ?anuary IG with President Ni#on!s inau)uration+ t ended in late IJ with the Dow breain) below 11 in 4ctober and a)ain in December+ &ersonally a)onied throu)h both breas below 11+ The marets colla&sed a)ain in 4ctober I, dro&&in) more than 011 &oints+ was fortunate enou)h to be a C64 of a &ublic com&any at the time+ say "fortunate" because, lie men that ha(e broen the sound barrier, there aren!t many of us and loo u&on that e#&erience with )reat &ride+ There ha(e been other maret breas, but these were )rand daddies and are the ones relate bac to+ !m told by mental health &rofessionals there are four sta)es of mournin) - and you better belie(e tens, if not hundred, of millions of &eo&le worldwide are in a state of mournin) after the last two
wees+ These four sta)es are + 3+ G+ J+
Denial 'n)er De&ression 'cce&tance
My best )uess is those millions of &eo&le are between denial and an)er+ 4f course, most are either an)ry at whoe(er ad(ises them for not )ettin) out of the maret+ The ones who tae res&onsibility are icin) themsel(es - no one else2 Therefore, most maret &layers ha(e e#&erienced neither de&ression nor the finality of acce&tance+ For those who watch tele(ision, listen to the radio or can read, you now the tremendous co(era)e the recent maret acti(ities ha(e recei(ed+ !ll try and &ut a sli)htly more realistic s&in on the data, rememberin) (irtually no one in ad(isory role saw this crash comin), notwithstandin) all the .+S+ now stated+ 4n March 31, 8ichard 8ussell, a Dow theorist, claimed after the 3G-&oint decline of the Dow the end of the I-year @really 33G monthsA bull maret+ More im&ortantly @if trueA, he claimed the bear maret reco(ery would tae one->uarter to one-third the len)th of the bull maret+ ;ou do the matchH _ or 33G or /G of 33G2 4ther headlines accom&anied )loomy &ro)nostications all weeH Caution is the 7atchword as Marets 9yrate: Motorola, Proctor and 9amble, and Com&a> 'nnounce %ar)e Cuts: McDonald, Northwest 'irlines, 4racle ssue Profit 7arnin): ow did they 5alue Stocs* Count the 'bsurd 7ays: .ear Maret .ecomes a 8eality: The Future 7on!t be as 9ood as it 7as: Those %ofty "New 6conomy" Measures File: Two Pro&hets of Disaster See Trouble 4nce ')ain: 4(erwhelmed 6ntre&reneurs Find a olistic Cure: Thera&y for Dot-Com sur(i(ors: 7ebsite Traffic was not .etter Than Profits 'fter '%%: and last but not least, 6#&erts Say Focus on Profit+ Now it!s &rofit we should loo for Uwhat a =oe2 'nother interestin) headline, 'merican See First Dro& in Their Net 7orth in 00 ;ears+ For the first time since IJ0 @the year of my birthA, the net worth of the a(era)e
'TLT - years 4racle - I ;ears Sun Microsystems - I years Cisco - 1 years %ucent - J years ;ahoo - 31 years The maret &sycholo)y of the II1!s won!t liely return anytime soon+ 7e saw it in the th Century with tuli&s in olland, in the late I31!s and for most of the II1!s2 's in(estors @if you can call them thatA, we are learnin), to our cha)rin, the II1!s )ame is o(er+ f es&ecially lie, as .lo)et, Merrill %ynch!s celebrity internet analyst said of the new economy on ?anuary 1 3111,"5aluation is often not a hel&ful tool in determinin) when to sell hy&er )rowth stocs+" e was referrin) to a fund of web com&anies sellin) at EG &er share, now at about EG &er share+ The &undits N47 say the returns of the II1!s were ma)ical but in many instances were a train wrec waitin) to ha&&en+ ' Nobel Prie winner for academic research on the relationshi& between ris and reward says there are three )rou&s of &eo&leH those who should buy, those who should sell, and those who should stay &ut+ t!s all about your willin)ness to bear ris+ @Da2 ho&e you already new that+A 4thers say !d differentiate between technolo)y and internet stocs @which a)ree withA: we are in an era of diminished e#&ectations: the &roducti(ity miracle ne(er was and the N'SD'$ was based on that: P6!s are still too hi)h @which a)ree withA: bear marets are cyclical and they do end @Da2 7hy didn!t anyone say bull marets are cyclical, etc+*A 's see it, one of the bi))est &roblems is a )eneration has )rown u& not @reallyA understandin) intellectually that a maret crash of this ma)nitude was &ossible+ That!s truly unfortunate+ t!s difficult for me to &ut blame on anyone but the ones that in(ested or &layed2 't least you thin anyone is not susce&tible to the now ended maret mania, had my own dot-com misha& which cost me a &otentially hu)e &ayday+ s&ent ten months on both sides of the 'tlantic to see the entre&reneur!s dream die lie a "road ill"+ 7e had an e#&erienced team, a re>uisite trac record and had raised E million with EG0 million meanine committed )oin) toward a 6uro&ean P4+ 4h well, ne#t deal, &lease22 's an aside, found out the deal im&loded while on a cell &hone dri(in) to my home at 9uthrie+ 7hile !m no one to )i(e u&, new it was dead instantly+ My collea)ues too lon)er to assimilate the lar)e loss+ relate this story for two reasonsH @A bad stuff ha&&ens to e(en the most e#&erienced and @3A more e#&erienced indi(iduals emotionally cut loose more readily because it!s ha&&ened to them many times before+ 4f course, that is how you )et e#&erience - main) bad decisions that turn into mistaes+ 'll bad decisions don!t turn to mistaes+ Sometimes Mother %uc o(errides stu&idity2 's !(e said many times before, it!s better to be lucy than smart+ 4f course, the ideal scenario is to be both+ 7hen school teachers are tradin) stocs durin) lunch and firemen durin) breas are doin) the same, you now the massi(e correction is &ast due2 7ell, it has ha&&ened and we M
ISSUE #23 He&in in settin 0%siness $s 0" inititin &ers$n $ settin
7hile settin) business )oals, &ersonal )oal settin) also &lays an im&ortant role+ 4ne cannot afford to miss the fine &rint and the (arious decisi(e factors influencin) a business &rocess or durin) settin) &ersonal )oals+ 7hen the II the ?a&anese Stoc Maret &eaed there was a bearish maret trend that followed+ The ?a&anese restructured the entire economy and the country )ot re(am&ed by settin) business )oals with a difference+ Due to economic slowdown %ondon was )ri&&ed with fear and this brou)ht bac the traditional dress codes+ Throu)h &ersonal )oal settin), bans announced dress-down and the focus was on creatin) an im&ression with clients+ Settin) &ersonal )oals in terms of dressin) down has )one o(er the &ea in ues+ t also throws li)ht on customer ser(ice, deals with time and money+ n fact re(olutionary thinin) in terms of 8eturn on Minutes @84MA rather than 8eturn on n(estment @84A is also discussed+ There is information on tain) care of chan)e, com&etition, &eo&le mana)ement and &lannin)+ 7hile settin) business )oals, there is a lot to learn+ For the new economy com&anies human ca&ital is the new currency+ Statements lie multi&le re(olutions will create e(olution are elucidated and it tals of technolo)y as a sim&le accelerator of momentum, not a creator+ Des&ite &ersonal )oal settin) not all )reat leaders come out to tell who they trust to con(ey them the truth+ 7ith the amal)amation of &ersonal )oal settin) and business )oals, most &ri(ate com&anies ha(e )reatly discounted in (alue because of the &ercei(ed &oor economic conditions+ t!s been a while since my last words of wisdom+ !m bac in 6uro&e for an e#tended &eriod+ This letter will address a number of sub=ects includin) recent contest winners and to the literary scholar may seem a bit dis=ointed+ Firstly the stoc maret as a whole has made a hu)e rebound+ For those of you who ha(e been hel&ed am ha&&y for you and your net worths+ My only comment is a >uote from one of the financial newsletters recei(e and ha(e some res&ect for - "
chance to mae a first im&ression"+ 'nd for those of you that ha(e attended dress down meetin)s with me - the dress downs s&end the first few minutes a&olo)isin) thou)h now a senior 6uro&ean with a (ery lar)e com&any do wor with !d lie to see run a meetin) in a T-shirt and =eans2 'n interestin) insi)ht made by an 'maon+com s&oesman "e(ery em&loyee has the &ower to re &rice their o&tions &aca)e - it!s called " $uit" This was made a&&arent when confronted with an o&tions &lan that was se(eral hundred feet under water with no &ros&ect for e(er ha(in) (alue any time soon+ 'nother way to loo at the tens of thousands em&loyee o&tion &lans not worth anythin) today is - 8SB S T6 P8C6 ;4< P'; F48 4PP48T
Teams with the clearest sense of (ision L im&act 7N2 Talent base - &eo&leUare the most im&ortant assets of new economy com&anies+ .est >uestion to as a C64Uwhy would )reat &eo&le want to be &art of your com&any* Customers will constantly raise "the bar of e#&ectation" for com&anies+ The internet is a )iant "lab e#&eriment" for cor&orate 'merica and those com&anies that reco)nise this and &lay well within the rules of ambi)uity L fluidity will sur(i(e and win+ N4TN9 S C'ST N C4NC86T6U The best form of customer ser(ice is S6%F ser(ice+ Constantly em&ower customers to )et their own answers themsel(esUthis is a hu)e differentiator+ "C%4CB SP66D" 4F .uit+ 986'T DN' 6NC4DN9 4F P64P%6 'ND 5'%<6S @N4T D6'SA N ;4
%B6 74 S 8DN9 4N T6 .
me - all do is shorten the timecycle and ee& them laer beam focused + .ut one es&ecially has shown a lot of si)ns of maturity, insi)ht, character and sin)le-mindedness ha(en!t seen in a lon), lon) time+ can!t use his name for confidentiality reasons+ This &erson has used $%' in a (ery lar)e com&any e(en before he met me+ 'nd now he has fine tuned what his instincts had already tau)ht him+ 7ith my assistance and )uidance he has learned to trust his instincts more+ 4f course belie(e !(e been e#tremely )entle with him thou)h he mi)ht not a)ree2 Sometimes !m sure it has felt lie hard &ushin)2 No, not all of $%' can be used in a com&any with )reat masses of em&loyees when it!s first a&&ro&riate for ob(ious reasons, i+e+ unions, seniority rules, bands on firin) etc+ Decades of history , and human belief systems tae more time to chan)e than o&timal, but ha(e written and taled about men lie 7elsh @96A, 9estner @.MA and 9ent @5oda&honeA who certainly ha(e used $%' methodolo)y for many, many years+ n fact their e#tremely su&er successful careers ha(e been based on the same &rece&ts coach+ 8emember not all of the )reat leaders come out to tell who their 8as&utins are2 .ut belie(e me, they all ha(e at least one &erson they can trust to tell them the truth - no matter what2 'nd in case you!re interested thou)ht 8as&utin was a )ood )uy2 7asn!t he* 4n a different sub=ect as !(e said ad nausem before @notwithstandin) the current maret u&turnA most &ri(ate com&anies ha(e been )reatly discounted in (alue, because of the &ercei(ed &oor economic conditions+ 7hen 7all Street and Main Street both lay off tens of thousands it effects all businesses but a few, i+e+ cuttin) bac and outsourcin) or =ust cuttin) bac becomes (o)ue instead of buildin) and addin) on to infrastructure to add or e#tend (alue+ C64!s realise shareholders don!t care about economic cycles so they do what!s easiest almost all the time+ !(e recently outlined a cost cuttin) outsourcin) &ro)ram, i+e+ &ro&erty ta#es, utilities, &hone, waste dis&osal etc to a lar)e com&any in the <+S+ o&efully they will at least test it soon+ &ersonally was in(ol(ed with a $%' de(otee sa(in) many millions in such a &ro)ram for Fortune 011 com&anies se(eral years a)o+ 7e ultimately were sto&&ed or almost totally entan)led because it embarrassed senior mana)ement, es&ecially the CF4/FD+ Such a &ro)ram needs stron) su&&ort from the C64+
trend in the economy+ '&&arently you all thin the )ood times are already bac and there is no need2 P+P+P+P+S+ recently sold my first thin) on e-.ay for many thousands of dollars+ 'lthou)h not totally efficient it was an interestin) e#&erience+ t o&erates on the &remise &eo&le are honest e(en thou)h there is no absolute way to hold them accountable+ !ll tell you why did it in a later letter and my thou)hts on e-.ays honesty / accountability theory+
ISSUE #2) From Dan Peña - 6#ecuti(e Coach and Mentor for the New Millennium Dear Subscriber and friend, 6i)ht years a)o ne#t Tuesday said would coach till was 00+ will be 0 in 'u)ust+ )a(e my first seminar in %' on May 33nd IIG+ 's told you last year startin) in II initiated a &hase down @not outA in my coachin) res&onsibilities+ be)an by closin) down my %' office @IIA, cuttin) bac my s&eain) schedule and reducin) the more than 1 com&anies, entre&reneurs and e#ecuti(es was in(ol(ed with worldwide+ 7hen accelerated that &rocess last 'u)ust 3111 it was a &lanned action+ en=oyed the years was in(ol(ed coachin) around the world day to day+ learned a lot about human nature and teachin) success &rece&ts to all inds+ Now as a final lo)istical consolidation am closin) my ouston o&erations this Summer and sellin) my scenic Californian estate and almost all that )oes with it, e#ce&t my wine cellar+ %ee 'nne my able assistant, collea)ue and &artner of se(enteen years has the dauntin) tas of doin) this+ She will be finished by the end of Summer at the latest+ She will then be totally a(ailable for other &ersonal endea(ours thou)h still a shareholder and &artner in (arious entities of mine+ She has been my benchmar for e#cellence almost since the day she came to my em&loy, '&ril IJ+ already miss her )reatly2 4(er the ne#t few months all my business and &ersonal entities will ultimately be run out of the <+B+ and 'msterdam+ ha(e a new &ersonal assistant+ e is Paul Morris and is &oised to tae on all the res&onsibilities %ee 'nne did so well for se(enteen years+ !ll write more about him+ Suffice to say, he is a retired 8oyal Marine and more than >ualified+ e has already made a ma=or im&act at 9uthrie and in my 6uro&ean business interests+ My family is due to =oin me in the <+B+ in due course+ My youn)est son starts uni(ersity in the <+S+ in Se&t, 311 and my eldest son left the nest in Se&t III+ My soon to be 0 year old @Scottish bornA dau)hter will be startin) i)h School in Se&t 311+ 's you ha(e heard me say and write countless times, life isn!t stable so why should we thin business is* This bi) chan)e will ha(e no effect on any business relationshi&s ha(e other than mi)ht be flyin) in from another direction and my massi(e tra(el schedule will be reduced+ tell you now so you hear it from me+ loo forward to o&eratin) out of the <+B+ and 6uro&e as was en(isa)ed in IJ when mo(ed there ostensibly to retire2 - 4f course that only lasted 3I months2 will maintain my business interests or and relationshi&s where(er they are now+ currently ha(e stron) relationshi&s and businesses in the <+S+, <+B+, Netherlands and 9ermany+ n recent years !(e reduced my <+S+ businesses with this mo(e in mind+ thou)ht this chan)e would be com&leted last Summer - Man &lans and 9od lau)hs2 's !(e said durin) this &lanned chan)e am )oin) to focus on a few &ro=ects and continue to build The 9uthrie 9rou& @www+the)uthrie)rou&+co+uA, the MX' .outi>ue founded a few years a)o+ t currently has &rinci&als in the
will continue to s&read $%' Methodolo)y throu)h my website, Newsletters, $%' &roducts and my boo and most im&ortantly throu)h the many $%' &rotW)Ws, de(otees and followers of these &rece&ts for >uantum success !(e hel&ed to )room o(er the years+ @The &roduct clearance in(entory is comin) soonA+ !m looin) forward to the chan)e in my domicile+ 's some of you now 9uthrie Castle is a ma)nificent wor and &lay en(ironment and will be able to s&end more time there+ ;et can still )et anywhere in the world >uicly enou)h, but it!s out of the main stream for total &eace and tran>uillity when want it+ To ;our $uantum %ea&, Daniel S Peña Sr P+S+ 4f course !m ased how well did as a coach* don!t relate to my own success, because, in candour )ettin) horses to water and )ettin) them to drin is different+ 'nd in almost all cases could ha(e done it >uicer by myself as discussed o(er a >uiet cou&le of days with the 5erdiers recently on their Patamac, Maryland, estate hel&ed ins&ire them to desire+ .ut the followin) recent @'&ril/May, 311A corres&ondence @names remo(ed to &rotect the )uiltyA illustrate, as do many letter testimonials on my website, what ind of success de(otees of $%' ha(e had+ n all modesty don!t belie(e any coach dead or ali(e, can show better results2 Tom @who wrote the %etter 4ne belowA &re(iously wored for the $%' team in the <+B+, <+S+ and 9ermany from II - II and failed twice in &ro=ects he started and was cheated once by a &artner before his recent success+ ?enny @who wrote %etter TwoA has followed the $%' &rece&ts about the same len)th of time+ The im&ortant &oint is both ne(er )a(e u& - no matter what2 t taes both tremendous &ersistence and balls to succeed a)ainst the odds2 %6TT68 4N6H "Dan, wanted to send you a >uic u&date on our &ro)ress+ ad ideaH %ate No(ember 3111 Started research 6arly December 3111 Started seein) ca&ital Mid December 3111 First 'n)el Money %ate ?anuary 311 Mo(ed into 0111s>ft 4ffice st Feb, 311 8aised well o(er million without business &lan @ an)elsA - to date @more to come - we ne(er sto& looin)A a(e )i(en away less than 0 of the com&any - to date Created uni>ue &roduct L uni>ue sellin) &ro&osition - Feb, 311 Created infrastructure for com&any - ?an / Feb 311 @will continue to &ermeate until we arri(e at final destinationA ired I full time em&loyees - by Mid March nitiated &rocess for intranet web &resence and brou)ht to full functionality - March, 311 4&ened doors for business - 3th March, 311 .usiness self fundin) - %ate '&ril, 311 ired G sales e#ecuti(es - To date 4ther si)nificant e(ents includeH ired former e#ecuti(e who )rew from G3 locations to o(er 11 in J` years, too maret ca& from EG0 million to o(er E+3 billion, he is &aid on &erformance, success oriented salary and stoc o&tions+
ired former e#ecuti(e from same team on same com&ensation &aca)e+ Com&letin) strate)ic alliance/relationshi& with the bi))est icon in s&orts and s&orts nutrition in 3 countries+ n final sta)es of com&letion of a strate)ic alliance/relationshi& between our (enture and multi.illionaire who will be as a &ri(ate an)el in(estor and assist in e#&onential )rowth of our &roduct throu)h &ersonal in(ol(ement @ad(isory boardA o&enin) (ast channels for mass distribution throu)h own com&anies as well as others+ e will also assist in the e#it strate)y with - 3 months @most liely sell out to lar)er .iotech con)lomerateA+ First ma=or billionaire enhancement - we si)ned strate)ic deals with of the bi))est internetmaretin) com&anies in the world+ Dan, we are ha(in) the time of our life, worin) day and ni)ht, it was all worth it+ ;our methodolo)y wors 11 of the time 76N P84P68%; MP%6M6NT6D 4568 'ND 4568+ 9I added the uppercase
+ loo forward to har(est time and it!s ri)ht around the corner+ could ha(e sa(ed E01,111 @.84<9T S9NFC'NT 4T68A by not attendin) The Castle Seminar but would ha(e lost what!s about to come and it will be tens of millions, if not hundreds of millions+ Thans Dan Tom" %6TT68 T74H "Mr+ Dan Peña, want to tell you about my recent $%' success+
ahead+ ha(e written you some 9od awful "dufusee" letters, some of which am now embarrassed about and do a&olo)ise for, am )rateful and deli)hted that you cared enou)h to write me bac with your sa)e ad(ice+ ;ou ha(e &ro(en to me that you are indeed committed to your &ur&ose and a man of your word+ Than you+ Sincerely, ?erry+ P+P+S+ $%' hasn!t =ust been about money as Tom alludes to in %etter 4ne+ t!s @or !(eA assisted in brin)in) &eo&le to &ositions of )reat &ower and influence in multinational cor&orations @includin) a EG1 billion maret ca& N;S6 industry )iant started from scratchA, worldwide law and accountancy &artnershi&s, )o(ernment, &rofessional and amateur s&ort, in(estment banin) and almost e(ery as&ect of life includin) nutrition, health and reli)ion+ $%' is about )ainin) freedom to do what you want when you want based on hi)h &erformance and e#cellence by the use of laser beam focus22 P+P+P+S+ 's you ha(e &robably noticed in many of the stoc marets, losses @at least on the indicesA ha(e reco(ered+ f the &undits are correct we ha(e =ust witnessed the shortest bear maret in history+ nstead of waitin) years @a&&arentlyA we only had to wait a few wees+ Perha&s since communications on the world wide web are all encom&assin) and instantaneous e(en this has chan)ed - certainly almost e(erythin) else has )one throu)h this time metamor&hous+ ;ou be the =ud)e2
ISSUE #2 From Dan Peña - 6#ecuti(e Coach and Mentor for The New Millennium Dear Friend and SubscriberH t!s been sometime since wrote my last newsletter+ This is no &lace to e#&lain other than to say Shit a&&ens+ 't almost 0, !(e had friends and family )et sic and die+ Children )raduate from hi)h school and &eo&le mo(e house+ n 'merica, it!s called "downsiin)" your life, both &eo&le and &laces+ n my case, all the abo(e has or is tain) &lace+ t has been harder than &lanned+ 4f course, should now lea(in) thirty years of career and friends/collea)ues behind in the <+S+ wouldn!t be easy+ Man Plans and 9od %au)hs+ n recent wees )a(e the eulo)y for one of my )ood friends+ e was a world-class finance man, but more than that, he was a man of true inte)rity+ e had stron), unswer(in) moral standards+ 'nd many years a)o, when the world seemed to turn on me, he stood tall and was by my side+ 's most &eo&le would say later, ?ohn always new when to &lay a lon) shot+ say, he always new what was ri)ht+ 'nd he always followed that road+ ?ohn 6arnest was a uni>ue man+ e was his own man e(en u& until &assin)+ ' CP' by trainin) at Price 7aterhouse, he certainly new his odds when dia)nosed with &ancreatic cancer in December IIIH G to months2 .ut ?ohn decided it wasn!t time to )o until May 311+ For those of you who ha(e heard me s&ea, you now always ha(e somethin) to say+ For ?ohn 6arnest!s eulo)y, found it difficult to thin how to describe a man who for almost fifty years had balanced debits and credits for com&anies, some as lar)e as Fortune 01+ 's thou)ht what to say in the few minutes had, words lie honesty, moral (alues, and inte)rity &assed throu)h my mind+ n the end, used them all, but the one which came throu)h most clearly was inte)rity+ belie(e it!s a (ery )ood thin) if the main trait one had in life and career could be described by one
word - NT698T;2 6arly on in our relationshi&, remember fendin) off a hostile taeo(er+ Durin) a meetin) &ersonally was offered a middle-ei)ht-fi)ure chec for &art of my shareholdin)s at a 01 &remium to their (alue+ said no2 ?ohn said to reconsider+ said no2 ?ohn said the shareholders in a few months will not remember was looin) out for their interests abo(e mine+ said didn!t care+ e said would+ e was ri)ht+ ' few years later, the same shareholders threw me out and ?ohn 6arnest resi)ned+ e was the only Director who did+ e was when he died+ learned much from him+ My fa(orite &ro(erb which he s&oe countless times was "There are no secrets+ There are only mysteries+" The world is a lesser &lace for him lea(in)+ e did lea(e on his own terms, thou)h not e#actly how he would ha(e wished+ To ;our $uantum %ea&, D'N P6' P+S+ %'ST C'ST%6 656NTH !(e =ust arri(ed in the
ISSUE #24 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer Dear Subscriber and Friend, t has been a lon) time since my last newsletter+ ha(e been busy mo(in) house, closin) my ouston office and )ettin) my son and dau)hter ready for the ne#t &hase of the educational life+ am firmly &laced in 6uro&e @thou)h the .rits don!t consider themsel(es &art of itA now and worin) (ery hard at what en=oy and do best+ My new @really oldA life which is "deal orientated" has taen off with a ban)+ Some of the transactions The 9uthrie Castle 9rou& is worin) on are im&ressi(e+ They ran)e from Public to Pri(ate buyouts, to di(estitures of small or lar)e di(isions from lar)e com&anies+ 4ur new website is >uite different - www+)uthriecastle)rou&+com+ 7e are )eneralists and wor in (irtually all areas+ 7e ha(e added some (ery senior e#&ertise and will discuss them in due course+ .ein) able to s&end more time at 9uthrie, %ondon and the Netherlands, and soon 9ermany, seems as if it were the !1s a)ain for me (is-Z-(is my lifestyle+ was youn) and had =ust mo(ed to the
and the Penta)on+ 4&inion (aries on what ha&&ened to N;C and 'merica de&endin) on where you are+ Tain) four countries lie The Netherlands, 9ermany, 9reat .ritain and the <+S+, which am closest to, the latter three are chan)ed beyond belief+ The Netherlands, which =ust returned from, doesn!t show any chan)e whatsoe(er+ olland is still ea(en in their mind2 4f course they feel badly for all that were affected directly and the
The numbers ha(e to stac u& as always2 Professional mana)ers are weedin) out the wea deals from their &ortfolios and &uttin) money in their stron)er deals+ 8emember, 1 of all financial transactions are done with &eo&le deals ha(e already been done with+ t!s the re(erse of the 1 - 31 rule+ The end )ame for many of you is to do your first transaction - you then ha(e a trac record2 The Dream Team write and tal about, ad nauseaum, is e(en more true now2 My entire methodolo)y was de(elo&ed in a colla&sin) maret+ Many industries are in trouble - er)o many o&&ortunities with lower and fallin) &rices+ 's ha(e written before no one nows when the maret will bottom+ Therefore &urchases on the way down and on the way u& the economic trou)h will )i(e you @what callA the blended &rice+ t has wored for me in four decades+ Some of the uestions from $%' de(otees+ The bad deals in(ariably ha(e economic models that are based on erroneous assum&tions+ 8emember, you )et to understand )ood deals by looin) at and attem&tin) bad deals and ha(in) e#&erience around you2 now it is hard, but "=ust do it" as the Nie ad(ert says2 4ur "Chat 8oom" will facilitate >uic res&onse from me+ t will also be conduci(e to "your comfort one", because it will be faceless+ ow it will wor will be discussed soon+ The bottom line is, this is an economic era most of us will not li(e lon) enou)h to see a)ain+ nstead of hidin) we should be out turnin) o(er rocs+ Most &eo&le are better off stayin) in areas they now best, but that is not mandatory+ Surround yourself with SM'8T &eo&le and ne(er sto& swin)in) the bat, and ma)ic will ha&&en+ This will not be easy unless you chan)e2 ?ust thin if you were =ud)ed by who you han) out with - are they SM'8T* 're they where you want to be* i)h &erformance &eo&le don!t "han) out"+ They sto&&ed doin) that, if they e(er did, when they left school+ 8emember lone ea)les sore2 @ =ust )ot off the &hone with a youn) 9erman @3A who brou)ht me a bad deal some months a)o who is now on the ri)ht trac+ still remember meetin) him in the Churchill otel in %ondon+ 's he was o(er J1 minutes late, could only s&end 31 minutes with him+ e was dri&&in) with sweat, but had a dream+ is (ision is now clearerA M4ST F
&rices and needed money to close ac>uisitions+ The ad(isors choed2 d+ 8aisin) the first money on the %ondon Stoc 6#chan)e &ost 4ct K Stoc Maret crash in No( K+ The ad(isors double choed2 e+ 8aisin) the first money on the %ondon Stoc 6#chan)e &ost 'u) KI1 ra> in(asion of Buwait with Buwait as my G1 &artner in Se& KI1+ The ad(isors choed and sto&&ed breathin)2 f+ .uildin) an, almost, half a billion dollar ener)y com&any throu)h 33 ac>uisitions as oil went in a free fall from EJ1 to E &er barrel+ 6(ery deal )ot tou)her and the ad(isors always said was cray2 )+ nitiatin) and com&letin) from "idea to a focused e#it" of a "&ublic to &ri(ate" EG10 million healthcare com&any on the %ondon Stoc 6#chan)e that had colla&sed twice under my leadershi& with D%? and CSF.+ The deal was considered not doable in the assi circus clownA and did an P4 (alued at E1 million+ 'nd an "air&lane mechanic" and did a mer)er (alued at E31 million with the carni(al barer+ Neither new anythin) about finance+ ow about a "staircase salesman" buyin) a 1 million-)uilder construction com&any last Dec who still can!t read a balance sheet and financed it at 1+ 4r a "refinery worer" and "&layboy" buildin) a financial ser(ices com&any borrowin) ` million )uilders and main) si# ac>uisitions from II - 3111+ Don!t misunderstand me+ There were &lenty of failures to fill u& additional &a)es, alon) with many other small successes to )o with the abo(e+ 7hilst they were able to raise money and buy com&anies this doesn!t necessarily mean they can run them &ro&erly+ Many ha(e had hard times since+ 't some =uncture, with their newfound success, they belie(e somehow they ha(e been transformed into 7arren .uffet+ n my ne#t life will try years of coachin) o&eratin) systems and financial mana)ement instead of raisin) money and ac>uisitions+ ')ain, all the abo(e was accom&lished in )reat times of chaos, confusion and uncertainty and in most cases with financially unso&histicated indi(iduals+ could )o on for &a)es )i(in) you more e#am&les of success in the face of bad, to e#tremely bad news+ 8emember from chaos comes order2 Choordic2 86'% %F6
S&eain) of chaos, two &artners that own a
To the 7orlds $uantum %ea& and 9od .less 'merica and 'll er %oyal Friends and 'llies+ Daniel S Peña Sr+ P+S+ 's you ha(e read the recent $%' Product "Clear 4ut Sale" went well and Paul, my retired .ritish 8oyal Marines assistant will be ha(in) another traunch out soon+ !(e attached two of the recent emails recei(ed from recent ha&&y &roduct &urchasers as a &ostscri&t - am not sur&rised+ P+P+S+ N67 76.ST6H My new $%' Dan Peña website will be com&leted No( and our $%' Chat 8oom should be done shortly thereafter+ call it a Chat 8oom, but the 4N%; one you will be able to chat to is me at desi)nated times for >uantumly less than attendin) a seminar+ %ucy you2 P+P+P+S+ 6#am&les of emails recei(ed re)ardin) &roduct saleH "i Dan, Please send me more details of the remainin) &roduct sale items+ ha(e =ust finished watchin) the (ideos from the G day seminar - T6 .6ST NF48M'T4N !56 6'8D N 4N6 P%'C6+ 7ith thans+ Beith" 3 "i Dan, t!s about J+G1am Sunday mornin)+ a(in) )one throu)h the "Finance ;our Dream" (ideo, am ha(in) trouble slee&in)222 ha(e =ust )ot u& to reset my )oals+ ha(e been aimin) way too low+ always tell &eo&le that the one thin) that most "screws" with the mind is lac of direction+ 'd(ice that ha(e &ersonally i)nored o(er the &ast year or so2 Than you Dan for deli(erin) the "ic u& the arse" that needed+ will ee& you u&dated with my &ro)ress+ ha(e been &assin) the web address to some &eo&le that now will en=oy your style+ o&efully they will benefit as much as am+ 'll the best+ Mar $%P @$uantum %ea& n Pro)ressA"
ISSUE #2> From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ Dear Subscriber and Friend, t is Christmas 6(e and am reflectin) on how all of you are &re&arin) for a festi(e holiday season+ t is am and wored with a uity in 6uro&e on Friday not realiin) the ban had been shut down for the holidays since 3&m+ The Director was there and we had a &roducti(e meetin)+ n fact had a "world class" idea that could &ossibly hel& our lar)est cor&orate client while sittin) there waitin) for the meetin) to start+ This year has been an unusual year notwithstandin) the terrible tra)edy of Se&t+ t maes this holiday season more s&ecial indeed+ ha(e closed out my last office in the
for 3113+ will also continue with a (ery few mentees on a (ery s&ecial basis+ 4ne es&ecially has made such )iant strides it is hard to belie(e+ am &roud of all of them, but es&ecially he and the one who runs our cor&orate finance consortium, The 9uthrie 9rou& @T99Awho has also made )reat strides+ My websites ha(e been chan)ed dramatically to reflect my new &ositionin) as The ead of The 9uthrie 9rou& @T99A+ encoura)e you to loo at them a)ain+ @www+dan&ena+com www+the)uthrie)rou&+co+uA+ They ha(e been u&dated yet a)ain and will be chan)ed often+ My Dan Peña web site reflects my $%' methodolo)y and how it is still a(ailable throu)h the &urchase of &roduct and my boo+ 7e ha(e also li>uidated a lot of old &roduct in recent wees+ The &roduct is still )ood because it is timeless+ The new &roduct merely uses different, u&dated, e#am&les+ There is still some a(ailable and Paul, my assistant, will let you now how to )et it+ Seminars will only be )i(en to cor&orate clients of T99 )oin) forward+ These bes&oe e(ents will ha&&en infre>uently by desi)n+ The new chat room was initiated last month and was a )reat success+ The faceless element wored better than antici&ated+ was sur&rised at the >uestions ased and the ability to answer in sim&le terms+ The ne#t chat &ossible with me will be in late ?anuary+ am looin) forward to it+ The be)innin) of the year is a )ood time to &lan for the future+ ha(e used this time frame for G1 years to loo at what ha(e done and what could ha(e done better+ also loo at what can do for the u&comin) New ;ear+ For those of you that ha(e been in business with me, you now this is a similar format to that re>uire as a one &a)e weely re&ort with three sectionsH 7eely accom&lishments: Ne#t wees )oals: Problems in the wee =ust ended+ This is a (ery sim&le method to measure if you are main) real &ro)ress (is-Z-(is your &lan and )oals+ 's one of my fa(ourite &eo&le would say "what )ets measured )ets done+" For myself most of my )oals were accom&lished in 311+ The ones that weren!t had other &artici&ants who had a &art to &lay+ f my leadershi& sills had been better all my )oals could ha(e been accom&lished+ tae full res&onsibility+ Man &lan and )od lau)hs2 's a leader of some e#&erience, it has taen me almost 31 years to understand how much communication and leadershi& effects this &rocess+ 8emember communication meansH messa)e sent: messa)e recei(ed: and messa)e acted u&on+ 4f course leadershi& is ha(in) others do what you want them to do, when you want them to do it, not when they want to do it consistent with the &lan+ 7ithout these two intellectually sim&le &rocesses $%' methodolo)y is not &ossible+ They both re>uire )reat withdrawals from our emotional ban accounts+ 's some of you now am blessed by bein) able to mae these (ery difficult withdrawals with seemin)ly little effort+ ha(e made such difficult decisions so many times it a&&ears as if it does not ha(e an effect on me+ am not lettin) a secret out of the ba) - it does ha(e an effect2 Proceedin), in s&ite of fear, is a &rimary difference between a hi)h &erformance &erson and a non-belie(er low e#&ectation &erson+ 's ha(e said countless times " may be wron), but am ne(er in doubt"+ 8emember to act as if you had no limits to your abilities+ 'ct in a robust and enthusiastic manner and you will attract &eo&le that will allow you to accom&lish your )oals+ .ut be co)niant that all &eo&le do not share your )oals and as&irations+ That!s 4B2 Find &eo&le that share hi)h e#&ectations and you will, by definition, start accom&lishin) more+ ha(e said for many years, "9et a mentor that has been there and done it"2 Modellin) on someone that has been successful will hel& immensely+ That is a bi) &art of the $uantum %ea& 'd(anta)e+ ha(e decided to add, as &ost scri&ts, to this year-end newsletter emails from two of you without your names+ These emails illustrate some im&ortant &oints about what ee&s &eo&le from main) their own $uantum %ea&+ n almost all cases it is the lac of tain) action and in some cases it is the fear of what will ha&&en when failure is a result+ .ut sur&risin)ly, in some cases if someone taes action, but the wron) action it is the further fear of the conse>uences of yet another action that
ee&s them in the status >uo+ t then becomes a self fulfillin) &ro&hecy of non-action due to fear of failure+ 8emember you will act mostly based on whom you surround yourself with and what they mi)ht thin until you are trained to act followin) $%' &rece&ts+ f you surround yourself with low e#&ectation, low self esteem dummies it is ne#t to im&ossible to )o a)ainst the trend of con(entional wisdom, with stron)ly o&&osed actions+ 's one of the emails writes bac, almost immediately, they now &art of their &roblem is they care what other &eo&le thin of them too much+ Most &eo&le care about what other &eo&le thin+ That is a sim&le fact of life+ 's lon) as it is moral, honest, ethical and not a)ainst the law in my =ud)ment it is 4B2 "Don!t )o out of your way to be horrible", as one of my &artners says+ .ein) all you can be is not meant to hurt anyone+ $%' teaches you to be the (ery best you can be+ ha(e said ad-nauseum, ";ou can!t be a )ood son/dau)hter, father/mother, brother/sister, &artner in business, or anythin) without feelin) )ood about yourself - you are not bein) selfish thinin) of yourself"+ am not tryin) to )et reli)ious, but all reli)ions tal about lo(in) yourself and others22 7hy not you* a(e a )reat holiday season+ &rey for the men in the "7ar on Terrorism"+ s&ent the holidays of I and I away durin) a different ind of war and remember them (i(idly+ t was a (ery different world then, but the e#&erience hel&ed mae me who am o(er three decades a)o+ loo forward to 3113 lie few years before+ ha(e said there are o&&ortunities for all that may ne(er come a)ain in our lifetimes+ Tae action and do somethin) different+ Tae a ris2 - and do it a)ain2 and a)ain2 and a)ain2 8emember it is the thin)s we did not do we are re&entant and sorry for when our end comes+ %i(e life to the fullest each and e(ery day+ %i(e life on &ur&ose+ ?ust thin about Se&tember and the tra)ic massi(e loss of life+ 7hen those men, women and children )ot u& that fateful mornin) they did not now it would be their last+ 7hat if it was your last* ow would you ha(e been measured* 7ould you ha(e been &roud of your efforts* To your $uantum %ea& in whate(er you want and 9od bless you2 a&&y holidays and may you ha(e the most &romisin) year e(er2 8es&ectfully, Dan Peña P+S+ %ettersH %etter H "Dear Mr Peña, ha(e two >uestions which maybe you can touch on in your ne#t NewsletterH The first &roblem am ha(in) with )rowin)UUis dealin) with &ersonal relationshi&s+ call this &articular &roblem theU"!m damned if do and damned if don!t"+ ha(e a lon) time friend who was raised in a disci&lined manner and it!s (ery hard for him to &ay a )enuine com&liment - or as for hel& for that matterUUand yet when try to )row or chan)e it!s instantly noticeableUUhe doesn!t ha(e to say anythin)UUhe sends the messa)e in so many uns&oen words that am bein) deceitful somehow by not tellin) him e(erythin) am u& toUUand when do share the thin)s am u& toUUhe becomes =ud)e, =ury and e#ecutionerUUhe!ll usually find somethin) wron) or ne)ati(e to say, or if he lies itUU he!ll =ust tae the idea/nowled)e etc !(e laboured forUUand not say a damn word of "than you" or &raise or anythin)222 (alue the friendshi& but am ha(in) &roblems ee&in) it on the same &lane it was formed2 's for the second >uestion - well !ll =ust mae the tou)h and ri)ht decision+ Than you a)ain Sir" %etter @bA - from the same writer as %etter @abo(eA "Dear Mr+ Peña, Ne(er mind about that >uestionUUat least for meUU realied after sent it that still care too
much what other &eo&le thin of me or will thin of me+" %etter 3 "Dear Dan, !m an 6ntre&reneur+ am G0 and ha(e not achie(ed anywhere near the financial )oals set for myself at a youn) a)e+ f were to stand trial, accused of the followin), would be found 9<%T; on all accountsH + Failin) to set .9968 )oals than could achie(e in my lifetime: 3+ S&endin) thousands of &ounds buyin) ta&es, boos and attendin) @someA useless seminars o(er 0 years: G+ %otus -3-Gin) too much and )ettin) &aralysis (ia &erfection: J+ 7ritin) detailed business &lans: 0+ Picin) the "wron)" idea or (ehicle or business too many times: + Thinin) that )ettin) si)nificant financin) was somethin) could do only when already had money: + Thinin) could "catch two rabbits" at once @not focussin)A: + Failin) to find a 86'% mentor: I+ Tain) too lon) to mae decisions+ 4f course could )o on, but I counts of 9<%T; should see me &ut away for life+ 476568 would ha(e been found N4T 9<%T; on '%% of the followin) countsH + %acin) inte)rity, bein) unreliable or unable to mae a&&ointments: 3+ a(in) a ne)ati(e or &essimistic attitude: G+ 7orin) I-0 e(eryday and watchin) J1 hours of T5 a wee: J+ %i(in) life accordin) to the daily tabloids: 0+ Drownin) my life in misery after !(e been beat down: + .ein) small minded or sta)natin) my &ersonal )rowth: + Failin) to buy a &ersonal fa# machine or returnin) messa)es and other corres&ondence within 3J hours: + Not willin) to do whate(er it taes or failin) to act when needed to e(en if it was uncomfortable or incon(enient: I+ Dressin) ina&&ro&riately for success+ ha(e bou)ht e(erythin) could, that you ha(e written or recorded for trainin) &ur&oses since first came across your &ath and now am doin) 1 hours a day on the $% methodolo)y until achie(e a $%+ &lace you on a &edestal as far as "hi)h &erformance &eo&le" )o, or would not be writin) this toni)ht - and this is a "s&ur of the moment decision"+ ;ou truly are a uni>ue indi(idual - con)ratulations on ste&&in) where others fear to+ 8ecently decided would &ic a (ehicle that could handle $%, instead of all the "Micey Mouse" ones ha(e been &layin) with in the &ast+ Therefore, unless find somethin) better, decided would focus on P84P68T; D656%4PM6NT+ 'lthou)h ha(e a small ad(ertisin) com&any with a &artner @we ha(e a contract with a ma=or T5 com&any for sellin) te#t ad(ertisin) s&aceA, wanted to start buildin) a "bi) dream" and so hunted out some "winners" from the Pro&erty Field+ found a com&any and a )entleman who was MD of a +.il &ro&erty com&any in the I1!s+ said would wor for free in return for learnin) what could etc+ ha(e im&lemented many &ositi(e chan)es and assisted them dili)ently, howe(er can see now after a few months, that $% is certainly not in their blood @anymoreA - well if it is, it has taen a lar)e slee&in) &ill2 's you were offerin) it on your web site, my &lan was to si)n u& as many &eo&le interested in your $% Newsletter as needed in order to win a one hour consultation with you, but whilst am still &lannin) to do this @yes it is a written )oalA, was thinin)H "why should wor for N4N-$% &eo&le for free, when could &ossibly be worin) under the same terms, but for / with P84-$% &eo&le*" 4n this (ery thou)ht, ha(e written this email, nowin) that the "e(eryone wants to wor with Dan and his associates" clichW e#its, but trustin) at the same time that maybe you mi)ht reco)nise do
not cate)orie myself as, "e(erybody"+ .4TT4M %N6H am willin) to wor for free for / with yourself @&endin) a meetin) in &ersonA or with some other P84-$% indi(iduals you mi)ht &ut me in contact with+ Say "No" if you will, but dare you to test my commitment and inte)rity+ am well "&issed off" @with myselfA for not ha(in) made it yet and therefore hun)ry and willin) to do deals+ !ll meet you at four in the mornin) or on a Saturday ni)ht if that!s necessary+ My details are below, so, will you set aside 0 - 1 minutes, let me buy you a coffee and assess the &ossibility of initiatin) my offer* Bind re)ards"
ISSUE #25 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ Dear Subscriber and Friend, 7ell the year has started off with a ban)2 My home in California sold: the &ros&ects for deals are better than antici&ated: one of my mentees has ascended to the lofty &osition of "To& 9un" in a lar)e or)anisation: and another mentee is closin) their first deal+ 's sit on a train from Derby, 6n)land to %ondon, Sunday ni)ht @after an im&ortant client meetin)A, ha(e decided notwithstandin) the abo(e to write about a line from a mo(ie =ust released in the uisition of a com&any from it!s owners by the e#istin) mana)ement team+ Such an o&&ortunity is most liely to arise out of a &ro&osed sale or retirement situation in a
&ri(ate com&any, the sale of a non-core subsidiary by a &ublic >uoted com&any or as a result of an insol(ency+ The necessary finance will normally come from a blend of the mana)ement team, bans and institutional in(estors to)ether with, in a&&ro&riate circumstances, the current owner+ %.4 - ncreasin), "buy-outs" are bein) used in &ublic com&anies and other lar)er situations often as a defensi(e mo(e, such as restructurin) the acti(ities of a )rou& or e(en returnin) it to &ri(ate ownershi&+ This has s&awned the term "%e(era)ed .uy-4ut" @%.4A as a (ariation on the M.4 theme, whereby a lar)e &art of the fundin) to mae the ac>uisition is debt financed - &rimarily by institutions &ro(idin) what is nown as "M6OO'NN6 D6.T"+ Meanine debt sits between e>uity ca&ital and secured debt when the cash flows of a business can su&&ort a hi)her le(el of borrowin) than the asset base alone can secure+ 6.4 - ' further M.4 (ariation is the "6m&loyee .uy-4ut" @6.4A whereby mana)ers are =oined in full e>uity &artici&ation by a sieable number of the em&loyees of the business+ SS4 - 'nother (ariation is the "S&onsored S&in-4ut" @SS4A where a lar)e com&any may reco)nise that the de(elo&ment of a &ro=ect may be better suited to a more entre&reneurial en(ironment, but does not wish to fore)o all of the u&side if it is successful+ n such a situation the business could be "s&un out" into a new com&any, owned =ointly by the ori)inal com&any, the mana)ement team, and an inde&endent institutional bacer - often with an o&tion for the ori)inal com&any to buy it bac on a &rice formula+ t is, therefore, in the best interest of all &arties for the mana)ement team to mae a success of the (enture as an inde&endent business: at the same time, the &resence of the institutional in(estor should )i(e it the credibility to withstand any undue influence+ .4M. - ;et another &henomenon is ".rin) the 4ld Mana)ement .ac" @.4M.A, where an entre&reneurial business has been sold to a lar)e &rofessionally mana)ed or)anisation under whose direction it has lost it!s way - and &rofitability+ Pro(ided the (endors are not in breach of warranty, and cannot be held to be so, there could be an o&&ortunity for them to buy-bac the business on fa(ourable terms+ M74 - 7here a M.4 is unsuccessful or im&ractical, and tain) into account the &otential le)al ramifications of so doin), a mana)ement team may consider a "Mana)ement 7al-4ut" @M74A as an alternati(e+ This is, in fact, a form of start-u& - &erha&s a "runnin) start-u&" - but the com&lications and &ossible le)al im&lications should not be underestimated+ M. - 7here an e#ternal mana)ement team tar)ets a business as a "Mana)ement .uy-n" @M.A it is usually because it belie(es it can do a better =ob than the e#istin) mana)ement+ The o&&ortunity may therefore be for a sta)nant business, a turnaround situation or e(en an outri)ht rescue - an can a&&ly to both &ri(ate and &ublic com&anies+ 'll of the fundin) and le(era)in) techni>ues @financial and &sycholo)icalA that are used in M.4!s are e>ually a&&licable to M.s+ .M.4 - 'bout half of all ac>uisitions by mana)ement teams result in the in(ol(ement of a combination of e#istin) and outside mana)ers, either by desi)n or at the insistence of financial bacers if a stren)thenin) of the team is a condition of their in(estment+ Such a transaction is called a ".uy-n/Mana)ement .uy-4ut" @.M.4A+ .4 - 7ith the increasin) sie of deals, and the wei)ht of ca&ital needed, lar)er M.4s and M.s are becomin) nown as "nstitutional .uy-4uts @.4sA since the actual mana)ement teams are initially only able to afford a relati(ely small stae in the o(erall com&any+ owe(er, it can still turn out to be a substantially more lucrati(e deal for the mana)ement team than )oin) with the trade sale+ There is money a(ailable, almost on any front, for a stron) mana)ement team with an economic model that wors+ Start-u& ca&ital is hardest to come by+ This finance is most easily obtained from F - F - F, or friends, family and fools2 !(e enclosed two recent emails from $%' de(otees as &ost scri&ts+ They are written from different directions, but both are im&ortant+ 4ne is a $uantum %ea& n Pro)ress @$%PA and the other is a
(ery successful entre&reneur+
ISSUE #3* -Feb-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ Dear Subscriber and Friend, "F6'8 4F T6
's sit here at G0,111 feet on the way to somewhere comin) from nowhere, si& on a be(era)e wonderin) why*, why*, why* The )uy ne#t to me is readin) some boo and on the co(er =acet it says "There are only two emotionsH %o(e - our natural inheritance, and Fear - an in(ention of our minds+" t )oes on to say UUeach instant of the day we choose between these two, and our choice determines the ind of day we will ha(e and how we will &ercei(e the worldUU 'ssumin) this is true can better s&ea to the later of this &ro(erb - "and fear an in(ention of our minds", after-all this is not an astrolo)ical newsletter and am no e#&ert on lo(e, or matters of the heart2 For those of you that read my materials, listen to my ta&es, or ha(e heard me in &erson you now one of my fa(ourite &ro(erbs is "F6'8 - False 6#&ectations '&&earin) 8eal" !m in my G3nd year of business and can count on two hands @without my thumbsA the times was really afraid of somethin)+ n reality can count on one hand when felt real fear - and can say ha(e been )ri&&ed by fear that e&t me from actin) only once+ was , or 3 years old and was so fearful it affected my breathin) and belie(e my rational thou)ht+ ' bi), older, id chased me down and was about to do somethin) - DD N4T BN47 7'T2 4f course at that a)e it!s >uestionable how much rational thou)ht is &ossible, but can assure you was "shit scared"+ The abo(e scenario is >uite different than the time acted out of an)er or ra)e - as a youn)er man+ Notwithstandin) the aforementioned ha(e for all of my &rofessional business career been an e#treme o&timist2 n hindsi)ht sometimes too lon)2 @.ut can assure you an o&timist will do better in life than a &essimistA+ !(e said (arious thin)s, o(er the years some of which are listed on my website @which has been u&dated, yet, a)ainAH ".ad times don!t last, but tou)h &eo&le do2" or " may be wron), but am ne(er in doubt2" 'nd other Peñaisms/&ro(erbs, either down &layin) ne)ati(e thou)ht, or e(en belittlin) it+ The reality of life is bad thin)s do ha&&en - e(en to )ood &eo&le2 6(en to &eo&le that "ne(er )i(e u& or ne(er surrender2" Such a real story will follow+ !(e recei(ed &ermission to relate it in detail+ Many &eo&le belie(e firmly am a man who can throw caution to the wind and follows the war-lie standards of "full s&eed ahead and tae no &risoners+" Such a &ercei(ed &ersona has ser(ed me well o(er the years but &robably has left a false im&ression for my "other" sill sets+ For those of you that ha(e seen me in "the eye of the ti)er" you now can!t be intimidated+ act as if "there are no limits to my abilities", nowin) '%% P64P%6 D4 '56 %MTS+ coach the same &rece&ts - and it wors2 My e#&erience is these limits are mainly &ercei(ed limits that become real+ "Perce&tion is reality" - another of my fa(ourites+ @ am not referrin) to &hysical/stren)th limits, etc+ where limits are more defindA+ n one of my fa(ourite Newsletters, 3G, @which recommend you read oftenA >uote the meetin) results and outcome, of some (ery bri)ht &eo&le that are res&onsible for (arious e#traordinary accom&lishments+ These men had founded and )rown lar)e &ublic com&anies: were heads of hu)e consultancy firms: all still were e#tremely well T4<9T 4F 'ND ST%% 7686 4N T6 $<6ST T4 .6 .6TT682 n that Newsletter the "Stocdale Parado#" is referenced+ @'dmiral Stocdale is a true 'merican hero recei(in) The Con)ressional Medal of onor, 'merica!s hi)hest award for bra(ery2 stron)ly recommend his boo+ 9o to "9oo)le" and find out moreA+ "'dmiral Stocdale sur(i(ed years of torture in 5ietnam not by bein) o(erly "o&timistic" of bein) rescued within wees, but by bein) realistic of nowin) it could be years+ The other "o&timistic" 'merican P47s around him died from broen e#&ectations and heartsUof ho&e to be rescued within wees+ 86'%STS '86 .8
's an aside the <+S+ s&ace &ro)ram at N'S' is based on "failure is not an o&tion+" Most of us don!t understand what ";our ad(ersity really is2" Peo&le fabricate and delude themsel(es2 act as a &ermanent reality chec for the &eo&le wor with2 6(en thou)h ha(e )rown older, and ostensibly more mature, ha(e adhered to this &rinci&le subconsciously almost all my adult life+ belie(e my military bac)round is the main cause for this attitude+ am a realist that is not only brutally honest with myself @thou)h my wife and children would disa)reeA, but others as well+ ha(e tem&ered my actions with others in recent years+ No )ood comes from o(er em&hasisin) the ne)ati(es that are ob(ious to e(en the casual obser(er2 No )ood comes from beatin) the less )ifted2 No )ood comes from icin) mental cri&&les2 .ut belie(e with all my heart 986'TN6SS D46S C4M6 F84M P86SSN9 '8D T6 9FT6D 'ND P86SSN9 656N '8D68 T6 Sue &ersonalities @ ha(e chan)ed the circumstances, but not the outcome, to &rotect the innocent and )uilty e(en thou)h my clients concurred with me tellin) the story so others mi)ht benefit+ The bul of the story remains (ery accurate+ f the shareholder result had not been )ood would not ha(e written anythin)A+ ue because of their (aried bac)rounds and a)es+ nterestin)ly there were two women in(ol(ed, one on each side+ The a)es of all s&anned G3 to 2 't times o(er a 33 hour &eriod there were some J - 0 &eo&le in(ol(ed in a share &urchase and com&ensation ne)otiation+ The reality was one &ublic com&any was tain) it!s third ste& towards an unwanted taeo(er+ t was unwanted by the three founders who T99 re&resented+ t in(ol(ed the heads of three &ublic com&anies and many &rofessional ad(isors, lawyers, accountants, in(estment baners and others+ The balance between what is best in man and worst in man came into &lay+ found it e#tremely interestin) what &eo&le would do in re&resentin) their own self interests, claimin) it was benefitin) others+ t was almost child-lie+ n fact my youn)est son could ha(e been more &ersuasi(e in some instances+ 'fter all he =ust com&leted Freshman Philoso&hy and Public S&eain) at uni(ersity+ t was a roller coaster of emotions and at the end of 33 hours most in(ol(ed mana)ed to su&&ort sub rosa what was best for themsel(es whilst cryin) they were &rotectin) others+ t!s not often you see a to&-notch lawyer with his head in his hands - cryin)2 4f course he mi)ht ha(e )one down as a cul&rit2 Shareholder!s ri)hts was the cry2 'nd by 9od there were tears2 t was a confusin) situation that de(elo&ed o(er a two year &eriod - 'ND P84F6SS4N'%S 'ND D86CT48S M'; '56 S
me in the &ast when they needed me and only when there was a &roblem and always waitin) too lon)+ Ne(er to really &lan - always to react2 'nd as with most, ne(er )i(in) '%% the im&ortant information+ 't times it felt lie bein) s&oon fed as if couldn!t tae the whole truth, 48 T6; 7686 T44 6M.'88'SS6D T4 S'; 7'T T6; 'D D4N6+ 't no time did meet the &ersonalities they referred to o(er those years+ 's came to now they belie(ed because of M; P68C656D ST84N9 'ND T4<9 &ersonality, would so disenfranchise the other &arties o(er the action/dis&ute in >uestion no lon) term )ood would come from it+ 4r worse they would not be able to deal with the indi(iduals e(er a)ain+ n hindsi)ht losin) a few of these &ersonalities would ha(e been a )ood thin)2 4f course T68 actions )ot them in trouble in the first &lace - N4T MN62 t a&&ears they were so sure couldn!t deal with sensiti(e situations in an acce&table manner they called me (ery infre>uently+ 4f course they had become rich and famous - and in that lofty &osition you tend to listen less and be)in to belie(e your &ress cli&&in)s and, or for)et who hel&ed you )et there+ Me bein) in(ol(ed, at all, only came about after we accidentally bum&ed into each other J days before at an air&ort in the uic decisions no matter what2 Not main) decisions isn!t an anomaly+ More &eo&le don!t tae the decision to re>uest assistance @not =ust from meA sooner becauseH They =ust don!t want to hear: They now they should ha(e called earlier: They are embarrassed for the action they too, or for the non-action: They belie(e emotionally, or financially they can!t afford ad(ice: They don!t understand how bad thin)s really are: 'ND, 48 T6; F44%S%; TNB T6; C4<%D D4 T T6MS6%56S2 can!t recall how many times &rofessionals, es&ecially lawyers, are, brou)ht into situations too late+ The e#&ectations of bein) &ut throu)h an uncomfortable situation ee&s &eo&le from tain) action+ This discomfort could be raised by what friends, family, and collea)ues will thin or more
im&ortantly say+ Peo&le don!t want to embarrass themsel(es2 4ne of my fa(ourite Peñaisms comes to mind here "t doesn!t matter what the morons say"+ 4f course in most cultures and lar)e or)anisations this is (ery difficult @but not im&ossibleA to im&lement unless you are Chairman / C642 ?ac 7elch @96A, %ou 9estner @.MA, and .ill 9ates @MicrosoftA are such men2 Ste(e ?obs @'&&leA is such a man, but )ot thrown out and returned a)ain trium&hantly2 The abo(e scenario is life for most+ Perce&tion is reality and indi(iduals most often fear due to circumstances they don!t understand and don!t now how to as about, or can!t control - or as was told durin) the marathon 33 hour ne)otiation ordeal "you don!t now what you don!t now"+ This was said by a man who had made G0 million dollars by a)e G1 and now at G3 was u& a)ainst it - bi) time2 't a &ost-mortem after the conclusion of the abo(e, the clients re&resented told me they were e#tremely tired and &leasantly sur&rised at the outcome )ot for them+ 4f course they were e#&eriencin) &ost seller!s syndrome @PSSA, or seller!s remorse+ They recei(ed the best result &ossible, es&ecially, )i(en the time+ They were at least four time deadlines whilst was in(ol(ed+ The last one remember was 3am, or the buyer would lea(e2 7e returned to the meetin) at Jam and went throu)h to &m+ 7e had been across town in our lawyer!s office ne)otiatin) by &hone and email+ 4f course he and his team stayed+ The Chairman/mentor left three times in the be)innin) sayin) he was >uittin) and couldn!t deal with his former mentees+ followed him out and brou)ht him bac time after time2 e was ob(iously concerned about his re&utation as were the other directors and ad(isors - it !s called "self interest2" f this &ublic com&any didn!t tae immediate action more than a few re&utations would be se(erely tainted, includin) ad(isors - and a cou&le &ossibly ruined+ Their &rimary battle scare was it would tae many &eo&le down and this was the 4N%; alternati(e+ There was not much mention of shareholder (alue at this &oint2 4f course with additional time there could ha(e been other alternati(es, but it!s im&ortant to note in the end the shareholders did )et a )ood deal2 The founders were stunned how so many &ersonalities were &rofessionally mana)ed and )uided with me not raisin) my (oice e(en once+ Their e#&ectations were &ro(en wron)2 .asically used di(ide and con>uer - e(en usin) se&arate locations - me shuttlin) bac and forth - not se&arate rooms which is normal+ The only time almost raised my (oice was when the three related this fact to me+ had been told by a &artner/collea)ue @who was (ery familiar with the founders and hel&ed console e#&osed ner(esA, thou)h they had become wealthy followin) my ad(ice and &rece&ts they were afraid couldn!t sa(e them now2 They &ercei(ed Dan and $%' only )ot ac>uisitions done and Dream Teams or)anised, etc2 The &artner/collea)ue had told them their concerns were false+ 'fter all, how could Dan ha(e dealt with The 5atican, the sraeli )o(ernment, et al, and the countless situations o(er G1 years, if he didn!t now what to say and how to say it at the a&&ro&riate time* 's some of you now e(en the De(il can be charmin)2 The founders were scared2 6motional floodin) was at wor2 Thou)h youn) men they looed old beyond their time and ha))ard+ Notwithstandin) the aforementioned an e#tremely &rofessional outcome was the result as far as the founders were concerned+ 6(en the buyers were ha&&y+ 'nd as said the shareholders did well+ The buyers were there to mae a deal - not fool around2 t was merely a matter of &rice, terms and conditions as it always is in a deal2 can!t call the outcome fair to the founders+ Nor can say would ha(e acce&ted the outcome myself+ n fact told the buyer would not ha(e acce&ted myself, but wasn!t there to mae a deal lied2 was there for my clients+ t was the best they '%% could )et )i(en the dicey circumstances and new it2 'nd they new it2 D86'MS D4N!T C4M6 7T 6QP8'T4N D'T6S+ The abo(e clients were founders of a com&any they too &ublic+ ' darlin) of the stoc maret+ 4ne of the founders was elected C64 of the year in 3111+ 'll three became wealthy as a result of foundin) and )rowin) their baby dramatically+ 4ne founder was literally married to the com&any no wife or &ros&ects+ They were first and bi))est in their industry, and all this in less than ten years
- they had it all2 t was a true ra)s to riches scenario+ They all attributed their s&ectacular )rowth to my teachin)s and methodolo)y+ met them early in my coachin) career+ They ado&ted $%' re)imen to )o &ublic+ They =oined the Clubs su))ested and reor)anised their ad(isors and .oard of Directors at my su))estion in III/3111 after )oin) &ublic+ Those board members @includin) their mentorA and ad(isors ultimately hel&ed them out the door when the com&any ran into troubles+ did not &ic the board or ad(isors, said they needed hi)her &rofile indi(iduals to )o to the ne#t le(el+ 'fter that there were no other re>uests from them since 3111+ They felt they could do it on their own2 am not sayin) there were small &roblems2 They were bi) &roblems2 8emember another Peñaism: .i) Success-.i) 8ewards .i) Problems2 'll &roblems could ha(e been dealt with if faced headon much earlier2 6(en if they had those e#tra twel(e days could ha(e obtained a better result for them and they may ha(e still been in char)e2 Se(eral times durin) the 33 hours they all commentated they had )one throu)h the entire $%' cycle - from ince&tion of an idea to a focused e#it, but not the ind of e#it they e#&ected, or wanted2 They said "Dan you write and s&ea about )ettin) thrown out, you are ri)ht, this is e#actly what can ha&&en"+ said, "7hat do you mean can* t is ha&&enin)2" tell all that will listen, (ery few now when to e#it on their own - s&ea from e#&erience2 Foundin) a com&any and stayin) the course are two different sill sets+ Dell and 9ates are rare e#ce&tions2 t is much easier to &ic the more correct course of action when you ha(e li(ed it yourself - or been there2 Done that2 Most ha(en!t2 This letter is focussed on two main themesH + Fear and your comfort one dictates much, if not all, of our li(es, and 3+ Ne(er underestimate how wron) you can be+ @'nother fa(ouriteA+ The thou)ht of the unnown ee&s &eo&le from tain) action most of their li(es+ Thin of your own situation+ Some &eo&le use " must )ather facts and do more research" as an e#cuse for no action2 4thers will say what will ha&&en to me if am wron)* 4thers will say "what will &eo&le thin*" 'nd still others use sim&le denial2 's .ill 9ates says, "Thin it2 Do it2 Fi# it2" ow often ha(e we all underestimated the conse>uences* ow often ha(e we all o(er estimated the outcome* This is the dilemma and why battle e#&erience is needed if you want to lessen the &ain and a)ony throu)h the =ourney and increase the &robabilities of success+ The abo(e scenario illustrates how &eo&le &iced to stren)then and consolidate a &osition ultimately used their &ower and influence to their own end and safety first, 7%ST T6 S'864%D68S 7686 P<%%6D '%4N9 F48 T6 8D6, M4ST%; .6C'
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ISSUE #31 I-Mar-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ Dear Subscriber and Friend, "9lory is Fleetin) but 4bscurity is Fore(er" 7ho said this* - 8ead onUU n recent wees ha(e focused on &erfectin) our model at The 9uthrie 9rou& @T99A, which is based u&on how do we render the best ser(ice addin) the most (alue+ Part of that &rocess has been inter(iewin) indi(iduals that may =oin us at some &oint this year+ This &rocess has been interestin)+ Thou)h the last se(eral years coachin) ha(e had an enormous effect on me (is-Z-(is my ability to understand (arious &ersonalities and to moti(ate them, it still )ets bac to &eo&le and their &erce&tions of themsel(es and how you can ad(ance that &ositi(e &erce&tion+ 's ha(e written on many occasions chan)e is difficult+ To illustrate this &oint ha(e recently been drawn to 9ermany due to the massi(e ta# relief chan)e effecti(e ?an 13+ n sim&le terms cor&orations can now sell off none-core assets for ero ca&ital )ain, and smaller com&anies can recei(e a relief of 01 from the old rate+ The &undits, myself included, thou)ht there would be an onslau)ht of acti(ity at both le(els+ For the cor&orations it was thou)ht of as a real windfall+ Cor&orate finance teams and lawyers )ot ready for the sellin) freny and the fees+ 784N92 n the cor&orations case unrealistic sellin) (aluations &ut a halt to any a(alanche of sellin) fees+ Now the &ri(ate sector had the same result for a (ery different reason - it was cultural2 The cultural outloo of business ownershi& bein) handed down from )eneration to )eneration B6PT C'N96 F84M 4CC<88N9+ 4ne would ha(e thou)ht, a)ain myself included, ha(in) to &ay 01 less ta# would ha(e dri(en 9erman business owners towards sale+ The belief system set u& o(er hundreds of years was @at least for nowA too )reat+ Culture &lus the mistrust based on the hi)h-tech/dotcom im&losion and a )eneral lac of confidence in .9 CT; financial &eo&le has actually, by some benchmars, reduced the sale of businesses based on II fi)ures+ should feel fortunate T99 was late in o&enin) it!s 9erman office+ 's !(e said countless times, "it is better to be lucy than smart - or M'N P%'NS, 94D %'<9S2" @The 9erman thou)ht &rocess is mentioned a)ain later in this letterA+ am enclosin) two different com&ositions, a)ain to illustrate chan)e and the lac of it+ 4ne is &art of a letter sent out in late III+ The other is an email recei(ed a cou&le of days a)o+ The III letter was written to a &resti)ious )rou& of C64s that meet re)ularly throu)h a common membershi& that ha(e s&oen to many times+ The email is from a &erson who =ust started a business relationshi& with after many months of talin) and due dili)ence+ belie(e you will see the difference clearly+ %etter @sli)htly editedA illustratin) the theme of no chan)eH @8emember - bein) around hi)h &erformance &eo&le that are comfortable does not hel& you )row &ast their comfort ones2A
Dear Club Members, .'CB N TM6 t was a lot of fun for me to return to the scene of the crime, almost si# years to the day from first s&eain) at your Clubs (arious cha&ters in IIG+ saw a lot of familiar faces - e(en familiar clothes2 Sam @my hostA is not the only one who hasn!t chan)ed much - yes he!s lost wei)ht, etc+ !m writin) to say, notwithstandin) a&&reciate the o&&ortunity to s&read my messa)e would be remiss if didn!t say my mind one more time in writin) as fade out of this sta)e of my life+ %et me start by sayin) lo(e Sam+ t!s hard not to lo(e Sam+ Since IIG, e(ery so often, Sam dro&s me a note asin) if !d s&ea a)ain+ !(e historically said "no", but, this time it coincided with my &hasin) out of certain as&ects of my coachin) as stated bac in IIG+ This chan)e will tae &lace in 'u)ust 3111 [ my 00th birthday @it turned out to be 'u)ust 311A+ 'nyway, was shoced to see so many &eo&le almost e#actly where they were in IIG+ 6#ce&t for a (ery few (irtually nothin) had chan)ed+ ' little )reyer, hea(ier and in some cases Muiet li(es of des&eration+ NS'NT; - N4 C'N96 Many of you ha(e heard me say, "insanity is doin) the same thin) o(er and o(er and e#&ectin) different results+" ;ou!(e also heard me say "hi)h &erformance &eo&le don!t waste time on thin)s they can!t chan)e+" Therefore realie, as sit here in my %ondon a&artment writin) this, may )et throu)h to no one, with this letter+ .ut, !(e decided to endea(our one last time+ The &roblem with clubs lie this one and others, is sim&le - no accountability+ uire+ Too bad more didn!t listen+ can!t be ha&&ier for them2 @ ha(e also had the &ri(ile)e of counsellin) their e#tremely bri)ht son who is now at <.S 7arbur)s - N;CA+ The main difference between these friends and (irtually e(ery e#ecuti(e ty&e at the club is sim&le they tae action and understand they will err and will mae the a&&ro&riate corrections+ They fail themsel(es to success after success lie a rocet to the moon - correction after correction+ @That was before the modern e>ui&mentA+ To build their net worths they e#&and their emotional ban accounts+ $uite sim&le in words - (ery difficult in &ractice2 'nother &rimary fault of the (arious clubs are the s&eaers tryin) to sell their (arious )oods and ser(ices+ Therefore they would rather tell you the easy stuff so you!ll lie them and buy+ Durin) my se(en days of s&eain), across the
)a(e them+ 'd(ice they &aid a lot for, and now they are si)nificantly worse off+ n fact, one lost almost all he had+ The bottom line is they both couldn!t tae the actions to chan)e+ 4ne of the businesses was becomin) obsolete - yet couldn!t chan)e e(en to sa(e himself+ The two, who shall remain nameless, are (ery much lie the membershi&s of all the (arious C64 clubs throu)hout the <+S+ and the world+ They &ay to be members for, &erha&s, some emotional security and they listen, ad nauseam, and tae (irtually no action towards chan)e+ !(e ne(er been able to understand2 Perha&s in my ne#t life will2 Thou)h )oin) bac to bein) a transaction =unie !ll be dealin) with different emotional ban accounts+ n this arena death comes much more >uicly if you don!t ada&t throu)h chan)e+ To ;our $uantum %ea& Daniel S Peña Sr+ %etter 3H i Dan, Today, the 0th, March, said would )i(e a summary of how e#actly would &roceed, @with chan)e were necessaryA+ 7ell that was done yesterday really+ nstead today, thou)ht !d do another ty&e of summary, as it!s nearly two wees since "officially" came on board on my mind was doin) a re-ca&+ P4NTS T'<9T T4 M6 / %6'8N6D F84M ;4< T4 D'T6H G thin)s about DanH +;ou!re tou)h [ there is no "soft under belly"+ 3+;ou eat &eo&le lie me for lunch, but you &rotect ;4<8 floc+ G+;ou don!t want me to say or do anythin) to com&romise or ris your name or business relationshi&s or clients/mentees @i+e+ 'lternati(e to&ics to Grd &artiesA - this did now well, but understand you needed to ST'T6 T 568; C%6'8%;2 G Thin)s about lifeH +Shit ha&&ens2 3+Shit rolls downhill2 G+9et your shit to)ether2 G .ad thin)s about meH + had a tendency to "bullshit" - definition since established " tal about thin)s that had only read about, not done+" @%ie (irtually all other coachesA+ 3+ had a tendency to =ustify or defend my &osition - understood to ha(e been dri(en by the fact that felt inade>uate about my life and "success" to this &oint, in com&arison to the hi)h &erformance )oals had set for myself @i+e+ low self-worthA+ G+Networin) and some of the other "Micy Mouse" businesses ha(e been in(ol(ed with or wored at early in my life, will not cut it in the city bi) )ames or $% and should be left behind, not s&oen about in &ublic+ G 9ood thin)s about meH +;ou ha(e a de)ree of res&ect for some of the character traits ha(e de(elo&ed @disci&line, &ersistence, follow-u&, &ersonal )rowth, &unctualityA+ 3+;ou ha(e decided that D4 ha(e what it taes to $% with your )uidance @well was con(inced, but !m )lad you a)reedA+ G+;ou reco)nie by now that D4 understand the definition of the words "inte)rity" and "honesty" and li(e by them+
G Thin)s to SucceedH +'cce&t correction without retort and only tal about what ha(e done, or now what are my new )oals+ 3+Continue to absorb and a&&ly the nowled)e and information re>uired to &lay and win in the land of $%+ G+8etain a consistent amount of New Deal Presentations @Deal FlowA and subse>uent in &erson meetin)s+ Thans for all of the abo(e+ belie(e ha(e )ras&ed thin)s so far, no doubt there will be a lot more to come and am looin) forward to it+ am )rateful that you did )i(e me the chance+ Tal soon 8e)ards QQ 's you can see chan)e is &ossible, belie(e someone who is ready wrote the second letter+ My first letter was written to hundreds where was looin) for maybe one that would write me an email similar to the abo(e letter 3+ 's it turned out )ot a cou&le out of the C64 9rou& across the
your )o(ernment+ C'PT'%SM, 'M68C'N ST;%6H ;ou ha(e two cows+ ;ou sell one, buy a bull, and build a herd of cows+ .<86'
ISSUE #32 A eers/i& rtice t/t /e&s et 0etter %nerstnin $f inter&ers$n s6is
n this newsletter a ma=or &ortion deals with inter&ersonal sills and this is brou)ht out throu)h a leadershi& article featured here+ Dan claims in this leadershi& article that there is more than one way to do thin)s correctly and these can be se&arated by common lan)ua)e and methods towards business+ e acce&ts that both are &rofessional and show res&ect in different ways+ There is a lot of em&hasis in this leadershi& article with re)ards to human relationshi&s+ e says there is only one chance to mae a first im&ression+ Dan tals of teamwor amon) other thin)s and a clear understandin) of the )oals that need to be achie(ed which can!t be done alone+ is idea of a team is not one of )ettin) alon) well or liin) one another+ To em&hasie this he has been blunt enou)h to mention if a friend is needed - buy a do)+ Dan uses an article from Financial Times to illustrate what it means to be lied by &eo&le+ t clearly states that cra(in) res&ect is fine but wantin) to be lied is a serious flaw+ n this leadershi& article Dan loos at res&ect from collea)ues rather than them liin) him+ e su&&orts it by sayin) he is a &roduct of social and economic milieu, intense &ractice, trainin) with
the will and desire to be successful+ Dan brin)s out uses (arious illustrations where des&ite bein) lied by &eo&le and res&ected many a times he has ended in liti)ation+ e also uses incidents from the mo(ie Patton to illustrate (arious le(els of &erce&tion+ Drawin) e#am&les from his &rofessional life which s&reads across G1 years, he tals about the distinct &ri(ile)e he had worin) with some of the )reatest minds and &ersonalities alon) with their influence on his life+ Dan mentions in this leadershi& article that he always doesn!t a&&reciate bein) correct but it is e#&erience that counts because of those hundreds of transactions, tens of thousands of business decisions and countless inter&ersonal inter&ersonal business relationshi&s+ e also del(es on the (arious inter&ersonal inter&ersonal as&ects related to boss-em&loyer relationshi&s and clearly brin)s out the (arious nuances in(ol(ed+ .ut he also loos at the leadershi& article with cynicism cause for him at the end of the day res&ect is far more im&ortant2 f "lie" can be added that!s )reat+ 'nd there are many >uestions &osed which may or may not ha(e answers+ %B6, 86SP6CT - ST
mana)er is, on the whole, lied+ li ed+ 7hat is bad is if he cares whether he is lied or not+ 't the e#treme, wantin) to be lied too much will ensure that you are not lied at all+ These mana)ers fail to tae tou)h decisions+ They are not honest in those cases where honesty is called for+ for+ They a(oid conflict and s&end far too much time on charm initiati(es+ ha(e =ust ased a senior collea)ue whether he cares whether &eo&le &eo&le lie him+ Not at all, he said+ 7hat he does care about - &assionately - is that he is res&ected and deemed to be doin) a )ood =ob+ Then he ased me the same >uestion+ admitted that did actually care a lot whether &eo&le lied me+ e lau)hed, assumin) was ha(in) him on+ This was (ery bad news for me+ To care des&erately that &eo&le lie you and yet to )i(e the im&ression of not )i(in) a damn - that is some weaness indeed+ 7'T 'PP6N6D T4 %6'D68SP* The column is written, belie(e, for indi(iduals who as&ire to )ain &ositions in the mana)erial world+ t!s title isH "Do ;ou ;ou %ie Me*" Cra(in) res&ect is all (ery well but wantin) to be lied is a serious flaw in a boss+ ha(e, for more than thirty thirt y years, said would rather ha(e collea)ues res&ect than lo(e2 4f course it sounds more dramatic usin) lo(e instead of lie, but this is what mean+ am e(en less interested in their lo(e2 Not many &eo&le in my business career career ha(e had o(erwhelmin) o(erwhelmin) lo(e/lie for me+ me+ The few who who did/do ha(e been other hi)h &erformance &eo&le who became (ery close to o(er time+ Those that will tal freely tell me am feared by most, but still res&ected+ res&ected+ @'t 0 wish it wasn!t fear+ fear+ 't G fear was fine2A do not do this on &ur&ose N47 - it is merely me+ am a &roduct of my social and economic milieu, intense &ractice, trainin) and the will and desire to be all that can be since I2 can say with no hesitation e(en &eo&le that ha(e had a business relationshi& with, which ended in liti)ation, all res&ected my abilities as a business&erson and as 8oss Perot says "Dan Peenna @with a Te#as drawlA is a beedy eyed bi-ne @Te#an slurA man"+ Translated to the mere mortalsH "Dan is a focused, tou)h @but fairA, businessman"+ ha(e always considered that one of my )reatest com&liments alon) with some by Constantine 9ratsos, .ob Dye @Father of the North SeaA and ?erry 4rmand @a mentorA+ There are a few thin)s said about me that ha(e touched my @stoneA heart or at least that is the &erce&tion+ Someday will write more about that &erce&tion of me (is-Z-(is me2 ' )reat line in the mo(ie "Patton" illustrates this &erce&tion &oint+ 'fter an e#tremely e#&losi(e outburst by 9en+ Patton one of his aides says, "Sir, that scared the men, because they don!t now if you were actin) or serious2" Patton bars bac, "That!s the &oint+ They don!t need to now if it is an act or if am an)ry+ 'll they need to do is tae action2" ha(e learned the hard way barin) doesn!t wor with all &eo&le, but is e#tremely effecti(e with many if and when used =udiciously+ ' sim&le infliction in my (oice wors fine for me now+ 's many of you now ha(e had the distinct &ri(ile)e of worin) with some of the )reat minds and &ersonalities in the last G1 years+ years+ Fortunately most of these relationshi&s relationshi&s came early early in my career, career, whilst was learnin) and )rowin) most+ Constantine 9ratsos @mentioned abo(e - a mentor to meA, former C64 of The 4nassis 9rou& and ri)ht hand man for 'ristotle 'ristotle 4nassis for o(er 01 years, &robably had the bi))est influence influence on me+ still remember remember sittin) in 4lym&ic 4lym&ic Towers Towers @N;CA as as a youn) man+ used Christine 4nassis!s office - she was ne(er there+ had my feet on the credena )ain) down 0th '(e '(e looin) at St Patric!s Patric!s Cathedral+ used to &lay with the direct line &hone to the 7hite ouse and The 5atican+ t was a dream come true2 mention this because had an endless res&ect for the man+ started our relationshi& callin) him Mr 9ratsos, it mo(ed to Constantine and ended with Costa+ e always called me Mr+ Peña from the be)innin) to the (ery (ery end+ e was was (ery fond of me, but more more im&ortantly he had had )reat res&ect res&ect for my =ud)ement and me thou)h was relati(ely youn) - ell was J1 years his =unior2 7hene(er
was on or near the 6ast coast went throu)h N;C to see him+ 4ur relationshi& thou)h friendly was always a little stiff+ better understand this after doin) business in 6uro&e 6uro&e and 'sia o(er the last last twenty years+ ne(er e(en thou)ht about liin) him, him, thou)h in hindsi)ht now now must ha(e done so (ery much+ res&ected his =ud)ements so much did thin)s, which loo bac u&on, that were not &ossible+ did them because Costa ased me to and didn!t e(en >uestion the result+ res&ected his wisdom and e#&erience in business and as a &erson+ 4ne of the thin)s say more often than lie to is - " don!t lie always bein) ri)ht @correctA2" t is not lie am so bri)ht @which amA, but because of those hundreds of transactions, tens of thousands of business decisions and countless inter&ersonal business relationshi&s+ There is (irtually nothin) that ha(en!t e#&erienced e#&erienced in business2 6r)o when faced with a set of facts and circumstances, almost always, ha(e been there before+ This is the reason for ha(in) a mentor and the basis of $%'+ Most &eo&le that want to be lied as a boss @for)et &ersonal innate insecurityA, fear their business acumen doesn!t deser(e deser(e much res&ect, so they feel it will mae for an easier relationshi& with collea)ues et al+ !(e e(en seen bosses belie(e if they are lied, their subordinates will co(er for them if they mae a mistae, etc+ There are too many that would consider such actions as loyalty+ uestions+ ;ou ;ou can!t find a &erson that has been &art of a 8oss Perot or)anisation that wouldn!t wal throu)h fire for him+ There was a boo &ublished in the late 1!s named "!m 4B2 ;ou!re 4B2" t author, Dr+ Stein, a noted &sychiatrist of that time, &ut forth the &remise (irtually anythin) @short of a heinous act or crimeA was 4B in a &ersonal relationshi&+ t reminded me of the famous line from the mo(ie "%o(e Story", when the youn) man says, ".ein) in lo(e means ne(er ha(in) to say you!re sorry+" sorry+" This remar doesn!t re>uire a res&onse from me thou)h ha(e wondered how that relates to marria)e* 7hilst "!m 4B - ;ou!re 4B2" was a tremendous literary success it has been &ro(en, lie many theories, as .ull2 belie(e a better boo and much more re&resentati(e was "!m dysfunctional, ;ou!re dysfunctional", written in the !I1s by 7endy Baminer which de&icts how we are all stran)e at best and some are merely more screwed u&2 t was written with Dr Stein!s boo in mind+ f today was a contest - how did you do* Did you measure-u&* Did you win* Did you accom&lish somethin) tain) you closer to your )oals* f not - why not* Did you li(e life on &ur&ose* 8emember, 8emember, as !(e said and written, my e#&erience is when our life ends it is the thin)s you don!t do that you will re)ret - not the thin)s you did2 Car&e diem2 To ;our ;our $uantum $ uantum %ea& P+S+ 7e ha(e made a cou&le of additions to The 9uthrie 9rou& @new name after dro&&in) "Castle"A thou)h worldwide business has slowed+ 7e ha(e done this to tae ad(anta)e of the massi(e amounts of money for deals with )ood mana)ement teams that e#ists+ 7e are looin) to add more2 n fact my oldest son, Dan ?r @31A is our Summer intern for The 9rou& at 9uthrie+ e arri(ed a few days a)o+ P+P+S+ ha(e had recent re>uests for another &ersonal chat room a&&earance+ will do it in Mid May+ f you ha(e an interest in &artici&atin) in this "&aid-for e#&erience", &lease notify Paul at &+morrisYthe)uthrie)rou&+co+ &+morrisYthe)uth rie)rou&+co+u u
ISSUE #33 3-May-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
My last newsletter )ot more lon) emotional res&onses than ha(e e(er recei(ed+ hit u&on a sub=ect (irtually all could relate to - wantin) to be lied2 Thans for your res&onse2 ha(e decided to as you, the readers, what you want me to write about in the months to come+ will s&read your re>uests around my own ideas+ 4B what* Ne B%etin B$r
Shortly will add a .ulletin .oard to my website+ ;ou, the readers, &robably understand how they wor better than + t should be u& by ?une+ This is a re>uest from you the subscriber+ The Chat 8oom has had mi#ed results+ belie(e this is based on &eo&les dislie for hearin) the truth in my res&onses2 n the &ast a number of $%' de(otees ha(e =oined to)ether in business relationshi&s+ These relationshi&s ran)e from )ettin) sim&le ad(ice to )ettin) ca&ital for in(estment+ 's you can ima)ine we ha(e some e#traordinarily bri)ht and )ifted readers+ 7e also ha(e (ery wealthy, (ery so&histicated subscribers+ To round out the continuum we also ha(e hi)h school and colle)e students as readers, alon) with be)inners in business+ 's we used to say "we ha(e a &ot&ourri of readers and talent"+ The .ulletin .oard will assist you in interfacin) with other $%' de(otees and &ractioners+ Gettin V%e f$r <$ne" V9<
was )oin) to write this letter on "Deals that Create 5alue"+ 4ne of my collea)ues, Sally all, who heads u& T99 as Mana)in) Princi&al sent me a newsletter she thou)ht would lie to read+ The irony was am already a subscriber to this >uarterly re&ort+ t was e(en stran)er that it was from $uarter , 311, or more than a year a)o+ 7hen first saw it in my readin) file )lanced at the name of the world renowned name @brandA of the consultin) )rou& that &ublished it+ Scrollin) down, now scroll &ast the title "Deals that Create 5alue", &ast the schematic showin) a &ile of (alue, throu)h the first few &ara)ra&hs to the &hrase "ac>uisitions create the most maret (alue o(erall, des&ite the well-nown "winners - curse" in which buyers &ay too hi)h a &remium"+ 's read the last cou&le of words of that &ara)ra&h my eyes scanned u&wards to the by line+ uasi mentee of mine+ had hel&ed sha&ed his career throu)h his M.' at the %ondon School of 6conomics and beyond+ 7e had wored to)ether off and on for many years+ 7e ha(e &robably done \301 million in deals+ !(e nown him since he was 3G2 then read the entire se(en &a)es - twice to mae sure understood+ 4f course the article was merely sayin) somethin) had &reached for more than 31 years+ "t is easier and more effecti(e, when done correctly, to add (alue throu)h ac>uisition2" Now, what =ust wrote is infinitely more sim&le than the e#&lanation that accom&anied the short re&ort which later found out had hundreds of &a)es as bac u& material+ t was a wor of art based on "multi(ariate re)ression to access the correlations between e#cess returns created by each deal and (arious characteristics of that deal UU deal sie-wei)hted -least s>uares - multi(ariate re)ression model, in which all de&endent and inde&endent (ariables for each transaction were wei)hted by sie of that transaction relati(e to the sie of the com&any undertain) itU the de&endent (ariable was defined as e#cess returns relati(e to the local stoc maret, corrected for the ris - ad=usted cost of ca&italUThe 83 of the re)ression
was 0"+ 7ell2 's continued to read new this study was based on JI deals between IIJ - I+ This was the core sam&le for their multi(ariate re)ression analysis+ ell, said to myself2 wonder how lon) it too to do this study* reasoned @wron) word as you will seeA three )uys worin) on JI deals - &lu))in) in the results only, etc - say 3 wees each or wees in man hours for one &erson+ 'fter all the team didn!t ha(e to wor throu)h e(ery deal+ They only needed to &lu) in the (arious sums for their analysis2 couldn!t wait2 called my )ood friend of 31 years+ .ein) .ritish his mobile number was turned off "at the weeend"+ 4f course still wor o(er weeends because lie - no really lo(e - what am doin)2 @8emember lie (s lo(e from the last newsletterA t too my assistant a wee to catch u& with him+ ' dinner was arran)ed for two wees hence to meet at a fa(ourite restaurant of his - he is an owner+ t actually too a lot lon)er because he literally for)ot for)ot to &ut it in his diary+ diary+ e is an "absent "absent minded &rofessional" &rofessional" now2 e is truly a )enius in the real sense+ n all his years of education he has ne(er recei(ed anythin) less than a &erfect 11 )rade2 could write an entire newsletter on him+ 7e met and the first >uestion out of my mouth was about the $uarterly re&ort+ ased why was it written* 'nd doesn!t doesn!t e(erybody in the finance world now what was written* The reason it was written was unbelie(able to me2 e said, it was not commonly nown by the readers of and de(otees of his most &resti)ious consultin) firm+ e told me the analysis too four months+ swallowed hard on my be(era)e and >uicly ordered another - a double this time2 ti me2 immediately thou)ht, what if a bi) client had ased for such an analysis+ Perha&s a ma=or in(estment ban mi)ht ha(e instructed such an analysis be done with the consultin) firm!s name on it+ wondered how much would it ha(e cost* 'nd more im&ortantly would the )rou& &ayin) &a yin) for it ha(e recei(ed (alue for money* The followin) is my re)ression @of sortsA analysis that s&ent many slee&less ni)hts labourin) o(erH The three in(ol(ed in the analysis were, two consultants @as they are calledA and one a &rinci&al with the consultin) firm+ ' &rinci&al &rinci&al is ind of lie a &artner+ The assum&tions made were sim&le+ f it too three financial &rofessionals four months to do this wor they should all be fired and the firm should be closed down in the interest of betterin) the financial community in &articular and world in )eneral+ Thou)h new, new, or should say ho&ed, this was not a full time endea(our for the three cha&s decided to start with 11 case @as they sayA+ n my days on 7all 7all Street it was called "the old 11 case tric"+ 's of the first >uarter of 311 &rinci&als of the ma=or consultin) firm char)ed / billed at a rate of \1,111 &er day for a se(en hour day, nowin) they wor more than se(en hours a day+ Consultants were char)ed / billed out \0 - ,111 &er day for the same se(en hour day+ decided to use a (ery so&histicated methodolo)y to ascertain the cost of the two consultants+ used a 5C @5enture Ca&italist &ri(ate e>uity &ro(ider modelA s&readsheet to a(era)e \0,111 and \,111+ 'fter conferrin) with a M.'/Chartered 'ccountant collea)ue @which would be a billable e(ent of courseA o(er a two wee &eriod decided \,111 &er day was a )ood number to hel& build my base model on+ was a little a&&rehensi(e+ new mi)ht be taen to tas for such an a))ressi(e hy&othesis but decided to li(e dan)erously dan)erously - to li(e on the ed)e2 ed)e2 assumed assumed after G years, years, 11 deals, deals, 0,111 business decisions, decisions, thousands thousands of hi)h le(el meetin)s meetin)s - it was time to )et )et outside the bo#2 Consultin) firms recei(e these hourly rates, &lus e#&enses and tra(el time+ Durin) most of 311 such firms added 31 of the daily rate as e#&enses to their bill2 had a PD/M.' collea)ue collea)ue @more billable timeA write an a&&ro&riate &ro)ram &ro)ram to determine determine what this did to our economic model model (is-Z(is our billin) methodolo)y+ methodolo)y+ The result was astonishin)ly \3,111 &er day for a &rinci&al and \,311 for @our modelA consultant+ felt (ery )ood about this and would ha(e told a client @if there was oneA what "(alue added" had been &roduced2 t was truly another win-win situation+ 's my analysis )ot more in(ol(ed enlisted the assistance of another collea)ue, err Professor
Doctor was ind enou)h to do the sums for me+ e said the &reliminary analysis re(ealed the rate was \3,J11 &er day+ e said it was a )ood enou)h to mo(e forward with+ e reminded me tra(el time needed to be considered as well+ was )rateful for his insi)ht and thaned him for the )entle reminder+ 'fter considerable time and effort too a (ery difficult decision+ decided on my own, without any further consultation and at )reat ris to my &ersonal and firms re&utation that no tra(el time was @&robablyA necessary, or en(isa)ed+ further s&eculated if anybody tra(elled to )ather data for such an analysis he should be dri(en out of the financial community on a burnin) rail2 4r con(ersely be made "sales mana)er ementus" at his local cara(an @mobile homeA sales centre+ .ased on my e#tensi(e scientific research ha(e ascertained a ma#imum of 3J1 billable days are &ossible+ The The fee can be no more than 3J1 days of time, at a yet to be decided decided rate+ The 3J1 days days is based on a 0 day wee ma#imum ma#imum for J wees a year+ year+ ' J wor wee &er year is used+ used+ Thou)h Thou)h J wees holiday is a (ery low for a consultin) &artici&ant decided, a)ain, to )o outside the bo# and be a))ressi(e+ a))ressi(e+ n reality - wees are lost to holiday time+ Thou)h the &ermutations &ermutations seem endless, endless, &lease follow the rational closely+ closely+ M4NT%; / D'%; D'%; 'N'%;SS 'N'%;SS @'t @' t 31 days &er monthA Month Princi&al Consultant Consultant 3 Total
31 31 31 1
3 31 31 31 1
G 31 31 31 1
J 31 31 31 1
Total 1 1 1 3J1 Main Days
t is interestin) that the horiontal and (ertical a#is e>ual in total, thou)h the indi(idual months and &artici&ant sums don!t+ don!t+ This This needs further further in(esti)ation, but but )i(es a clear clear enou)h @thou)h @thou)h obtuseA &icture+ D'%; 8'T6 8'T6 /M4NT%; /M4 NT%; 'N'% 'N' %;SS Month Princi&al Consultant Consultant 3 Total
\3J1,111 \JJ,111 \JJ,111 \03,111
3 \3J1,111 \JJ,111 \JJ,111 \03,111
G \3J1,111 \JJ,111 \JJ,111 \03,111
J \3J1,111 \JJ,111 \JJ,111 \03,111
Total \I1,111 \0,111 \0,111 \3,3,111
Same horiontal / (ertical &henomenon+ Followin) this re(elation enlisted my collea)ue @anotherA err Professor Professor Doctor 3 to assist me with the difficult calculations+ 'fte 'fterr worin) around the cloc for se(eral days @as a &ersonal fa(our to me and in the name of the firmA he )a(e me the results of @\3,111 X \,311 X \,311A # 31 # J \3,3,111, \3,3,111, our 11, or hi)h case2 This would be the best case scenario - meanin) it would be the most we could be &aid2 @f you want to ha(e some fun as any firm of consultants, lawyers or
accountants if the bill/char)e is based on a matri# system+ The details of this system are T4P S6C86T2A Now was left to my own de(ises to determine the 0 0 @mediumA case and 01 @lowA case+ 7hilst my education was math orientated had to use my mere J years of maths includin) three years of ad(anced calculus, two years of ad(anced statistics and fi(e years of astro &hysics to determine the answer+ new was not >ualified but &ushed forward bra(ely2 n due course and many &ermutations later, found the medium @0 caseA to beH +0 # 3,3,111 \,0J, and the low @01A case to beH +01 # 3,3,111 3,3,111 \,10,111+ Than 9od this (ery time consumin) @all billableA e#ercise was finally o(er+ too a well deser(ed two wee holiday, holiday, already nowin) it would not be enou)h+ @t was an e#&ense to the clientA+ 9O'GET ABOUT IT IT
7hilst you may thin ha(e lost my mind for writin) this dribble can assure you ha(e read countless re&orts by &rofessional consultancies consultancies that didn!t do much more than did writin) this .ull2 7hat!s worse it wouldn!t be a mere few &a)es lie this, it would ha(e been hundreds of &a)es in a leather bound boo - and it would be at your e#&ense2 For those of you that now, now, and or ha(e wored with me you realie am short on written analysis and lon) on e#&erience and don!t need a 311 &a)e re&ort to )i(e you the answer2 n fact this letter is the most (erbose thin) write - e#ce&t for a few "not so nice" letters to &eo&le feel incumbent on tain) to tas+ am )lad didn!t com&ose a serious newsletter about a re&ort+ <$r t$ St$r"
The o(erall &oint to this storyH f the &eo&le who ad(ise you and, or are &art of your Dream Team )o throu)h any semblance of the aforementioned, aforementioned, )et new &eo&le 'S'P2 'nd 'nd run, don!t wal the other way2 To ;our ;our $uantum $ uantum %ea& Daniel S+ Peña, Sr P+S+ ha(e decided not to write a com&rehensi(e newsletter on the ado&tion of F'S J3 and the )reat )oodwill write-off &loy, in my ne#t newsletter2 had &lanned four, or fi(e such letters in the future+ 'fter 'fter a )reat deal of billable thou)ht decided would list four of my fa(ourites >uotes now and for)et about such dribble2 ere is a >uestion for youH 7ho said, "9rief is the &rice we &ay for lo(e*" $<4T6SH
"4nly those who ris )oin) far can &ossibly find out how far one can )o" @TS 6liot - I0A ";ou cannot teach a man anythin), you can only hel& him to find it within himself" @9alileo 0J - J3A "'ll nowled)e is but remembrance" @Plato J3 - GJ .CA "7hat is coachin)* This is 9erard 4!Dono(an!s definitionUU - "Coachin) is about &erformin) at your best throu)h the indi(idual and &ri(ate assistance of someone who will challen)e, stimulate and )uide you to ee& )rowin)" 'nswer to >uestion - er Ma=esty $ueen 6liabeth , (is-Z-(is Se&tember th+
ISSUE #3) From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
=ust returned from N;C where had an im&ortant meetin) o(er Memorial Day weeend+ ;es, went on a business tri& o(er an e#tended holiday weeend+ 'dmittedly it was to see one of my fa(ourites in a &lace lie2 N;C loos )reat and you can really feel &eo&le are tryin) to mae a difference+ Notwithstandin) the (arious "news scares" it is still the &lace to be (is-Z-(is &ure ener)y and thin)s to do+ ha(e always belie(ed as the famous son) says "if you can mae it there you can mae it anywhere" is (ery true+ am fortunate my (ery earliest days after the military and uni(ersity were s&ent there+ would recommend at least a cou&le of years in "the meat )rinder" to anyone who wants to cross intellectual and emotional swords with more than worthy o&&onents2 M'N P%'NS - 94D %'<9S2 am sure you are sur&rised am followin) u& so soon with another newsletter+ n candour was sur&rised at res&onse on my last letter+ Someone e(en commented how my analysis of "(aluin) a deal" was so fascinatin)+ 9od2 t was all consultancy )ibberish2 For those of you that read T6 6NT86 %6TT68 you now it was a s&oof on consultin) and what my e#&erience has been o(er G1 years with hi)h &riced merchants of )loom, doom and occasional ha&&iness2 'lmost all &roducin) mountains of useless information2 ;ou would not ha(e nown this unless you read almost to the end+ t was lie se#2 t was all at the end2 Thou)h you should ha(e realised it in the first few &ara)ra&hs was "main) fun+" could mae an analo)y about only )ettin) "&art of the info" and main) decisions, but won!t+ 'nalo)ies (is-Z-(is the nternet and succinct bites of info @which the letter clearly wasn!tA could be made in e#actly the o&&osite way+ So be it2
Suffice it to say was )reatly amused durin) the writin) &rocess of that lon) newsletter+ wondered how many would read it to the end* )uessed correctly+ 'nd as my wife and some that now me lon)est ha(e said countless times, what maes me lau)h isn!t necessarily funny to anyone else2 My own 0 year old dau)hter ased me not to send her the newsletter anymore2 7ell, man &lans and 9od lau)hs2 told her she would continue to recei(e it2 also ased at the end of that newsletter for su))estions on what you would lie to read in future newsletters+ @This offer is still o&enA+ )ot two subscribers )i(in) su))estions, so far+ Perha&s they were the only ones who read the entire newsletter2 's you can ima)ine my feelin)s '86 N4T <8T2 T866 'PP84'C6S Durin) this time of &ercei(ed tou)h economic times thou)ht would attach three short stories from a newsletter read re)ularly @and recommendA about men in the business of finance and how they deal with moti(ation, teachin) and the tas of ee&in) &eo&le focused+ They clearly state there is more to doin) deals than the numbers themsel(es+ To ;our $uantum %ea& Daniel S Peña, Sr+ P+S+ !(e attached a recent &hoto taen by my son Dan ?r+ who is worin) as T99 intern for the Summer+ 7hilst tain) many &hotos of 9uthrie and the en(irons he ca&tured what some belie(e to be the "Nannie 9host of 9uthrie" holdin) a baby+ She is friendly as is the "%ady 9host of 9uthrie"+ The followin) stories where in a recent newsletter distributed by The Deal+com+ f you wish to recei(e their daily newsletters you sim&ly )o to www+thedeal+com and si)n u&+ %6TT68 - T6 '%% 'M68C'N t only seems a&&ro&riate to describe Paul 8ossetti, 0G, a mana)in) director o 'merican Securities Ca&ital Partners %P, as 'll-'merican+ To say otherwise about the former <+S+ 'ir Force Ma=or, who is a baseball fanatic, seems almost un&atriotic+ Most recently, 8ossetti has been hel&in) the firm!s youn)er staffers stay enthusiastic about &ri(ate e>uity as the industry endures a difficult &eriod reminiscent of the early II1s+ "4ur challen)e is to ee& our youn) &eo&le moti(ated in the face of not a lot of interestin) deal wor," he says+ "That )ets bac to our disci&line of only buyin) )ood com&anies - the hardest &art of our business is ha(in) the disci&line to wait+" 8ossetti nows disci&line well+ That as&ect of his &ersonality hel&ed brin) him all the way to 'merican Securities Ca&ital Partners, a firm that has done 3 in(estments with a total transaction (alue of E+G billion+ The firm is the merchant banin) arm of Sears, 8oebuc and Co+ heir 7illiam 8osenwald!s 'merican Securities %P+ 8ossetti!s &ath to the 'merican dream too him throu)h the socially (olatile I1s+ 7hile millions of 'mericans were rebellin) a)ainst the establishment, 8ossetti was busy &lu))in) into it+ 'n honor roll student from a small town in u&state New ;or, 8ossetti had been acce&ted at all of the to& (y %ea)ue schools, but chose the <+S+ 'ir Force 'cademy in Colorado S&rin)s, Colo+ The <+S+ Senator who recommended him* .obby Bennedy+ n IG the 'ir Force shi&&ed 8ossetti to Thailand and he be)an flyin) combat missions o(er Cambodian =un)les in an '- Corsair+ e s&ent the ne#t years in the 'ir Force, becomin) a test &ilot and risin) to ma=or+"'s a &rofessional &ilot, it was a (ery rewardin) e#&erience to do what you are trained to do, and do it well+ 't the same time, it!s combat, and that &art of it was not &leasant, but we belie(ed in what we were doin)," 8ossetti says of his e#&erience+ No >uestion, 8ossetti!s
military e#&erience ser(ed as a cornerstone for his &ri(ate e>uity career, friends say+ 's conformist as 8ossetti seemed, he marched to his own beat, settin) his own ob=ecti(es and achie(in) them+ f there was one lesson the military had tau)ht him, it was that failure was not an o&tion+ Tae 8ossetti!s stint at ar(ard!s 9raduate School of .usiness 'dministration in the I1s+ e didn!t =ust ace his e#ams: he )raduated with an M+.+'+ in IG with distinction as a .aer Scholar - an honor reser(ed for students in the to& 0 of their class+"The thin) you learn from military e#&erience is to ha(e a )reat sim&le strate)y or business &lan, and e#ecute it well," 8ossetti says, main) it sound as sim&le as that+ 8ossetti!s &lan, &ost-ar(ard, was to wor for .ain L Co+ and then mo(e into &ri(ate e>uity two years later+ e really cut his teeth in &ri(ate e>uity dealmain) by =oinin) Dyson-Bissner-Moran Cor&+ in I, o(erseein) o&eratin) com&anies and ac>uisitions such as the firm!s &urchase of <+S+ %eather oldin)s+ n that deal, the firm bou)ht a leather-&rocessin) com&any, doubled its sie and sold it two years later for twice the (alue of its &urchase &rice+ n II, after stretches at 9reenwich Street Ca&ital Partners and Patricof L Co+ 5entures, 8ossetti =oined 'merican Securities Ca&ital Partners where he has wored on such transactions as the firm!s &urchase in '&ril 3111 of 5ute nc+, a deal in which the firm raised its bid three times to consummate its ac>uisition of the in=et &rinter maer+"7e found out this was a terrific com&any and &aid a lot more than we would ha(e e(er dreamed when we started the &rocess+ .ut the com&any checed out, and we said we would &ay whate(er it too," 8ossetti says+"4ur mission is to identify where we are the best buyer and our strate)y is to create (alue for our &ortfolio com&anies+ ;ou can!t =ust be alon) for the ride+" %6TT68 3 - T6 C'8M'N "The bi))est challen)e of the &ast fi(e years is the &ace at which we!re re>uired to &ractice law," says .arry M+ 'belson, chairman of the e#ecuti(e committee of Philadel&hia!s Pe&&er amilton ll&, a firm with J11 lawyers+ 'belson, 00, has been at it for G1 years, and he still describes his day as "a maelstrom of acti(ity+" e has a client base in three distinct areasH &ri(ately held businesses for whom Pe&&er is )eneral counsel, which re>uire financin)s and ac>uisition wor: midmaret &ublic com&anies, which ha(e the same needs, alon) with disclosure and Securities and 6#chan)e Commission wor: and a (enture ca&ital and &ri(ate e>uity fund &ractice, which re&resents the funds in their formation, )o(ernance and financin) acti(ities+ The firm!s chairman since February II0, he says much of his =ob is to train youn)er lawyers to be "reflecti(e rather than res&onsi(e" a challen)e in the a)e of instant e-mail+ .ut he sees his lawyerly res&onsibility - and that of the firm, which dates bac to I1 - as &ro(idin) deliberati(eness, whether or not the clients realie they need it+ "Too many clients assume s&eed of res&onsi(eness fulfills our &rofessional res&onsibility," 'belson says+ ".ut many of these com&anies don!t ha(e in-house counsel+ 4ur clients rely on us+" That de&endence may )row e(en )reater in the wae of 6nron+ "For middlemaret com&anies, thin there will be a se(ere im&act on the ability to )et >ualified inde&endent directors willin) to ser(e, and it!s the )rou& of com&anies who would benefit the most from ha(in) inde&endent and >ualified directors," 'belson says+ The first &erson in his family to ha(e )one to colle)e - in this case Dartmouth, lured by a stron) financial-aid &aca)e - 'belson trained for a law career by bein) the s&orts editor of the colle)e &a&er+ "t was a four-to-si# hour )rind a day, on to& of a full-time course load," 'belson remembers+ "t was )ood trainin) worin) under &ressure+" 7hich, des&ite the current slowdown, still e#ists+ 'belson notes that Pe&&er is worin) on three ma=or transactions on the buyout side and si# on the (enture side+ "7e!re seein) funds bein) more &roacti(e creatin) o&&ortunities: they!re looin) for mana)ement teams to do car(eouts+ The number of transactions may be down," he says+ "but the creati(ity from the clients is u&+" %6TT68 G - T6 C4
Mar 5ider)au )ains clients in fashion by not followin) it+ 's the founder and chief e#ecuti(e officer of The Sa)e 9rou& llc, a %os 'n)eles merchant ban s&ecialiin) in middle-maret transactions, he wors with small businesses, entre&reneurs, e(en fashionistas+ n this dynamic en(ironment, his bac)round as a lawyer - and his conser(ati(e tem&erament - are his bi))est assets+"' lot of what we do is buildin) trust," says 5ider)au, who a)rees that trendy, celebconscious entre&reneurs can be somewhat sittish of baners+ "7e say, K7e can hel& you as we!(e hel&ed others,! but you mae sure that throu)hout the &rocess they mae the decision+ 7e!re in this for the lon) run: if a deal doesn!t close this year, it!ll close ne#t year+" The bi) score for Sa)e, which was founded at the end of 3111, was broerin) the E million sale of 6arl ?ean to Nautica 6nter&rises nc+ The husband-and-wife team who founded the =eans com&any by in(estin) E3,111 were ha&&y with their &ayout in the '&ril 311 transaction, which found ?+P+ Mor)an Chase across the table+"4ur a&&roach is to treat e(ery E11 million deal as if it was a E0 billion deal," 5ider)au says+ "4ften what we will do is identify a fine com&any and )et to now the business - they!ll say we!re thinin) of sellin) this bi in the ne#t two to three years+ ' lar)e firm would say, KCall us when you!re ready+! 7e!ll show them where they can &ut in(estments in their business that 7all Street will (alue+" .orn in Bru)ersdor&, a small town in South 'frica near ?ohannesbur), 5ider)au trained as an attorney+ ' decision to )o into banin) - to e#&erience the dealmain) side rather than technical side - brou)ht him to .arclays Merchant .an, one of the four leadin) in(estment bans in South 'frica, where he became a director+ 'fter his dau)hter was born, a mid-career mo(e to the uite a lot+""7e!d =ust com&leted the lar)est P4 Southern %ife in South 'frican history," he says+ ".ut banin) to banin) didn!t feel comfortable+ Maybe it was insecurity, but felt had s&ent a lot of time becomin) an attorney and should (alidate that credential+" e certainly did, at to& firms Morrison L Foerster %%P and 4!Mel(eny L Myers %%P+ Finally, the frustrated baner went to wor for 7edbush Mor)an Securities, a mid-maret %+'+ firm, and was hired in II by N9 .arin)s to build a middle-maret ML' effort+"They wanted a head>uarters in %+'+ because the com&anies in %+'+ were small-ca& and entre&reneurial," 5ider)au remembers+ 4(er the ne#t fi(e and a half years, the sho& did E billion of total transaction (alue - much of that E01 million and E311 million deals+ Then 5ider)au left to form Sa)e, which was baced by 8ocwell Schnabel, founder of Trident Ca&ital, .radford Freeman, founder of Freeman S&o)li L Co+, and a trust affiliated with 8obert Day, founder of TC7 9rou&+"Most of the ma=or firms ha(e had a middle-maret &resence in %+'+ at one &oint, but can!t mae the numbers wor," 5ider)au says+ "7e felt we should reach, and since N9 didn!t ha(e a reco)niable name on the 7est Coast, in some ways we!d already done it once+" The ban, which o&ened its doors at the end of 3111, was certainly founded in a challen)in) en(ironment+ .ut 5ider)au says the middle maret has its own dynamic+ "Partners fall out, there can be shareholder dis&utes: you don!t see that when 96 is sellin) a di(ision," he says+ Now the firm, which does industrial as well as consumer &roducts wor, is a middleman between trendy left coast startu&s and more mature 6ast Coast businesses+ "%ar)e New ;or Stoc 6#chan)e consumer &roducts com&anies call and say, KDo you ha(e anythin) in accessories*! 5ider)au says+ 's for P6 funds, "7e &robably ha(e an 6ast Coast fund in our office e(ery day or e(ery second day," 5ider)au says+ "They!re clearly under &ressure to &ut money out+ P6 funds will tell you >uietly they are willin) to acce&t lower returns+" e e#&ects the real u&tic in closin)s to be the fourth >uarter+ Meanwhile, he!ll continue to hold clients! hands+"Startin) out, there are two or three &eo&le they trust, maybe a s&ouse, maybe an attorney," 5ider)au says+ ".ut once you enter that circle of trust, they confide e(erythin)+ ha(e one )uy who called - we closed the deal ei)ht months a)o+ said, KMichael, why are you callin)*! and he said, !se&aration an#iety+!"
ISSUE #3 3-?une-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
TS STuite sim&le to use+ 5isitors can &ost >uestions, which can then be answered by myself or indeed others who may be able to hel&+ .oth >uestions and answers will be on (iew to all, so you may find that the answer to a >uery you ha(e is already a(ailable to you on the site+ C4MM6NTS 4N 5D64 / 'uantumly+ Dear Mr Peña read your last newsletter @GGA to the end, @DSPH "Than 9od - and in the uite unlie my own hiccu&s of success+ earin) that you had only two res&onses to re>uests for to&ics sur&rised me+ @DSPH "There ha(e been more since then+"A assumed you would ha(e many, and that my su))estion would be one of many+ So much for stu&id assum&tions2 broe my own rule @ne(er mae assum&tionsA by main) that assum&tion+ ere is my su))estion+ ow about the to&ic of worin) at what you lo(e* 7hen youn)er, it was one of my assum&tions that &eo&le would lo(e their wor or, at the (ery least, mae the absolute best of it+ 4nly after readin) 'yn 8and many years a)o @DSPH " recommend this boo+ The best CF4/FD e(er had considered it his &ersonal bible for life+"A did understand what the Monday and Friday syndromes were about+ 'fter all, lo(ed my wor, and when didn!t, deliberately too on e#tra res&onsibility to mae the wor became fun+ 7hat!s wor without res&onsibility* That was another early assum&tion that &ro(ed falseH thou)ht that &eo&le wanted res&onsibility for their own li(es and &ro)ress+ ah2 %ast year, wored hard at mo(in) out of my current career, because that!s all it was - a career+ ' career that had res&onsibility for im&ortant stuff, sure, but it wasn!t M; im&ortant stuff+ @DSPH "7hen it!s not yours it!s always less im&ortant2 Thin of life and death - yours2"A 'nd realised that no lon)er %456D my wor any more, &robably because saw the writin) on the wall+
So, wored for a year, worin) weeends, early mornin)s and late e(enin)s, to brea out of what was doin)+ 9oodness, did my wife com&lain2 Tou)h, had to do what had to do+ 4r so thou)ht+ .ut, didn!t mana)e to brea out, e(en a little+ fi)ured that if could at least mae a tiny &rofit, could wor on that and )row, slowly at first but e#&onentially later+ 7ell, didn!t e(en mae a tiny &rofit+ 't least, not worth talin) about+ This year had a serendi&itous insi)ht that com&letely chan)ed my direction+ realised what did wron)+ hadn!t e(aluated what lo(ed to do+ nstead, had e(aluated what could do+ @DSPH "Common fault that leads to bein) suced in to the 784N9 (orte#+"A That was a limitin) assum&tion2 So had done what new could+ This year, e(erythin) has chan)ed+ e(aluated what lo(ed to do+ 'nd too action+ am now officially unem&loyed, ob(iously (ery short of money, but worin) and learnin) lie cray and lo(in) 6568; M4M6NT of my &aced wee @yes, se(en days a wee, early mornin) !til bedtimeA+ 'nd !m doin) wor thou)ht couldn!t, but of course ha(e now &ro(en can do well+ @DSPH "t!s how to maintain this 6(ery Moment feelin) o(er a career that can be difficult+"A Therein lies the difference+ am now doin) what lo(e+ 'bility comes automatically+ Soon, shall be main) a small &rofit+ Then can wor on the moneymain) ideas and )row e#&onentially+ am e(en mo(in) towards a (ision that !(e had for years, but didn!t now how to )o about )ettin) it )oin)+ So what!s my &oint* t!s that when you wor at what you now you!re )ood at, but don!t lo(e, your heart isn!t in it+ My brain didn!t brin) to bear its full awesome &ower to bear on the &roblems, so my solutions were, well, ordinary and common&lace+ Now that wor at what lo(e, find breathe, dream and li(e my new life with an e#traordinary &assion+ My brain wors on this all the time, and it!s fun+ 'lthou)h my ener)y le(els are no hi)her than last year @albeit always hi)h indeedA, my brain&ower is fired u&+ My solutions are creati(e, unusual, une#&ected and effecti(e+ @DSPH "8andom and effecti(e+"A ence my su))estion about worin) for lo(e - that is, lo(e at what you do+ ;ou once mentioned that if an e#istin) business is not e#&andable, you mi)ht as well close the door+ ;ou could add that if you re&lace it with a similar @but e#&andableA business for which you lac the &assion, you mi)ht as well not o&en the door+ f you want to brea out of what you do, as yourself three >uestions+ 7hat do lo(e doin) @e(en if belie(e !m no )ood at itA* @6+)+ Dan Peña lo(es to do deals+A + 7hen in the &ast ha(e done well at that* @f you lo(e it, you must ha(e done it well at least once in your life+A @DSPH "4r you wouldn!t now you lo(ed it+"A 3+ 7hat o&&ortunities are there for me to tae ad(anta)e of that lo(e and &assion* @;ou ha(e to be creati(e here2A Then, of course, tae action+ Than you for your newsletters+ .est re)ards Pat DSPH Thans for this letter and all your comments+ To ;our $uantum %ea&
Daniel S+ Peña, Sr+ P+S+ 8emember what ha(e said so many times before, "7hen you really lo(e what you do - it!s not really wor2 7hen was the last time you needed a (ocation from fun and &lay*" P+P+S+ "F6'8 S N6568 S4 F89T6NN9 'S %F6 %4N9 86986T+"
ISSUE #3. 1-'u)-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
6QP'ND N ' D47N M'8B6T ho&e this newsletter finds all subscribers doin) well by usin) $%' Methodolo)y to achie(e their dreams+ n recent months my incomin) corres&ondence and calls ha(e declined (is--(is new deals, etc+ from the readers and others+ a(in) =ust answered a Dan Peña .ulletin .oard >uestion it &rom&ts me to write this letter+ ;es there is a $%' .ulletin .oard - since late ?une+ Thus far the dialo)ue is )ood, ha(e answered a cou&le of the >uestions myself, thou)h it was desi)ned for the users of the site and readers of this newsletter+ My secret code is DSP2 's ha(e written and said more times than can remember, much if not most of my successes were accom&lished in down marets and, or a)ainst ma=or trends+ n early 3111 and 311 wrote, &ercei(ed the maret as measured by the stoc marets worldwide would tae a beatin)+ said didn!t now what the reason would be, but the &undits would come u& with some rational+ 4f course we all now in 3111 the dot-com maret colla&sed followed by the hi)h-tech in 311, then telecoms, bla-bla-bla and then the 6nrons and 7orldcoms of this world in 3113, in con=unction with 'nderson+ The entire &rofession of ee&in) correct numbers fell in to an abyss2 'll these are &retty )ood reasons+ To)ether they are formidably o(er&owerin)2 4f course now the &undits are talin) about the "double di&" &henomenon+ To the non-&rofessional this merely means the economy will )o down a)ain after looin) better+ n the 1!s "double di&" meant somethin) else to teena)ers2 ;ou ha(e also heard me say don!t lie when am ri)ht @all the timeA - es&ecially when the countless toll on humanity is so catastro&hic+ More im&ortantly, am not an economic forecaster, or anythin) lie it+ 'll my &ro)nostications are based on the sim&lest of fundamentals and leadin) economic indicators and o(er G1 years watchin) the (arious marets and indicies+ 'nd more im&ortantly now "con(entional wisdom" is almost always wron)2 ;ou ha(e heard or read, my most famous, or infamous deed is turnin) E31 into EJJ0,111,111 in years whilst oil went from EJ to E &er barrel+ always lied turnin) a E1,111 o&tion in to E01,111,111 in G months a lot more2 .oth e(ents were in the same (ery bad maret - the worst in 01 years2 n fact a few choice indi(iduals that had )rit, when wasn!t &resent, called me "Down Maret Dan"+ Cate)orically the best time to e#&and by $%' Methodolo)y is when the others aren!t2 %4ND4N, .9 .6N, P'8%'M6NT 'ND .8'566'8T2 %ast wee attended 0 financial institution inter(iews, in %ondon+ =oined two collea)ues from The 9uthrie 9rou& @T99A+ am )oin) to describe the salient &oints of the meetin)s and whom they were with, only )enerically to &rotect the )uilty, and why they were &iced+ The two collea)ues attend about to 1 meetin)s
more than do, &er wee on a(era)e+ They ha(e about that many meetin)s e(ery wee, whether they need, it or not - sometimes more2 These are with N67 financial institutions, or different &arts of the same institutions, or N67 &otential C64s to head a buyout+ 7hy will come later+ 'bout a year and a half a)o when wrote the second "bad news, newsletter" decided we needed a "deal )eneration" &erson at T99 in &re&aration for when the maret turned+ Since am always a&&roached by youn) @relati(e termA and enthusiastic &eo&le that are willin) to wor for a &iece of the &ie whilst learnin), didn!t belie(e it would be too difficult to find+ also decided it was time to e#&and the )rou&, after a cou&le of years of no e#&ansion, durin) the hi)h tech crae+ had learned lon) a)o to e#&and durin) times of crisis2 9ettin) financially mature indi(iduals who still wanted new challen)es would be more difficult+ Since then ha(e inter(iewed 1 and offered and retained J+ These J =oined us in the last months+ 7hen say inter(iewed, mean usually many meetin)s o(er a J - month &eriod+ want to obser(e them in as many different situations as &ossible: i+e+ in a deal situation, tra(ellin), drinin), with families etc+ 4f course this taes time, which now now after G1 years is the only reasonable method of ac>uirin) &ersonnel and &otential &artners+ could write an entire boo about headhunters, which on the whole don!t lie2 t is also the reason ha(e used (arious &rofessionals who re&resented me that was im&ressed with in my &ro=ects+ Three of the J additions are in "deal )eneration"+ F56 M66TN9S n down marets the com&etition is less difficult in seein) &eo&le about new deals, because the maret &lace is &ercei(ed to be too tou)h so e(erybody =ust sits ti)ht+ belie(e in bein) &roacti(e+ 'nd bein) acti(e means liftin) the &hone u& to cold call and attendin) meetin)s with new &eo&le as much as you can+ 6(en C64s of bi) com&anies should ha(e a )oal of seein) as many new faces as they can+ Four or 0 a month is a )ood )oal for e(en the most hea(ily scheduled e#ecuti(e+ 's a side bar comment, &ri(ate e>uity &ro(iders are different from (enture ca&italists @5CsA+ 5Cs are smaller funds and usually tae more riss with less mature businesses, e(en start-u&s+ Pri(ate e>uity &ro(iders are (ery lar)e @normallyA and want mature businesses that are not loss main)+ 4b(iously these definitions are not cut in store+ attended the first meetin), not =ust because a lar)e insurance com&any owned it+ attended because wanted to now and understand why they had a&&arently turned down an idea su))ested to them by someone, they and a s&ecific industry as a whole, hold in (ery hi)h re)ard+ Not that my collea)ues couldn!t do it, decided to attend to ascertain the why+ ard >uestions are =ust better ased from more e#&erienced &eo&le+ The challen)e is to as in a non-ob(ious, or abusi(e way so as not to let the idea out of the ba)+ The way not to do it would be - ey, why didn!t you do the billion &ound, so and so deal that Prof Do 9ood su))ested, si# months a)o* now this because &eo&le that new me, said did so in the early 1!s2 This is why $%' uses a Dream Team who ha(e attended such meetin)s and ased >uestions lie this many times before in their lon) careers+ had done business with this firm before, thou)h choose not to disclose it+ n fact they were a ma=or shareholder of mine at one &oint+ 4r)anisations that lar)e normally can!t ee& trac of some of what they do, let alone all of it2 t wasn!t )ermane they had in(ested with me and made money+ Most would ha(e used this historical fact to add credibility+ They inad(ertently )a(e me my answer+ was ha&&y went alon)2 3 The ne#t meetin) was with a hu)e international ban had also done many deals with o(er a lon) &eriod of time+ n this case wasn!t looin) for money, but was looin) to recruit+ met with two senior Mana)in) Directors+ new morale was low at this ban, so was there talin) o(er lunch about another low morale ban+ new due to maret conditions, (irtually all the lar)e in(estment
houses were cuttin) bac and )reat o&&ortunities for (ery e#&erienced &eo&le were a(ailable+ t was an interestin) lunch+ t was the fourth meetin) for one and the first with the other, T99 model was clearly not ri)ht for the one, but there would be a fifth meetin) with the other+ G The third meetin) was with one of the lar)est and oldest &ri(ate e>uity firms in 6uro&e+ ')ain had done business with them lon) before and this time did mention it+ ')ain, wanted to understand why they had not mo(ed on an idea brou)ht to them by the same (ery senior, well-res&ected )uy+ 's it turned out the way our model wors at T99 fits almost &erfectly with how they run their business, so a lot was accom&lished on different fronts+ The idea, both lar)e &ri(ate e>uity &ro(iders didn!t follow throu)h on was due to "no follow throu)hitiss"+ This normally &re(ails at lar)e firms+ f the idea doesn!t ha(e a stron) and committed cham&ion &ushin) it, &robabilities are it won!t )et started, let alone )et done2 New contro(ersial ideas easily )et lost in the "research &rocess" that can tae years+ The idea our well-re)arded man )a(e us was (ery )ood and we ha(e followed u& accordin)ly+ f it ha&&ens, it will be a 3 billion deal+ J The fourth financial institution was a lar)e forei)n ban that =ust, in the last months, set u& a new &rofit centre in %ondon+ was interested because my intuition was they were in need of )ood new deals now to =ustify their e#istence+ Suffice to say, it is our tas now to find them the a&&ro&riate deal - to hel& them in their >uest2 t was a &leasant e#&erience+ 's e#&ected they couldn!t do enou)h for us+ ue financial institution+ t s&ecialised in &articular ind of finance+ was ha&&ily sur&rised one of the founders chaired the meetin)+ e was senior to me and that doesn!t ha&&en often+ They &ro(ide a s&ecial &roduct for the lies of BB8 and all the ma=or in(estment houses+ 7hy was the founder there u& till H0&m* 7hen business is tou)h - the tou)h )et )oin)2 .ut attendin) meetin)s made by someone else @as he didA isn!t the same as insti)atin) meetin)s cold to fulfill your own a)enda and needs+ attended because this bouti>ue is considered the best in 6uro&e at what they do+ t was a &lus the founder was in attendance+ n fact he was the only one re&resentin) them at the meetin)+ There were three of us, which was actually one too many+ wanted to now and understand why a certain ty&e of secondary form of finance wasn!t used more often in transactions+ 's &er my usual analysis, it was throu)h no fault of the &roduct, but rather because it wasn!t considered a real com&etitor yet at that time+ 6(erybody will =um& on the bandwa)on lie shee&2 7hat this meant was that there is &robably a maret that needs to be filled+ 7hat ne#t you mi)ht as* 7ell in $%', it means it is worthy of a test - no more research+ 4f course others had been ased the same >uestions, but the best bouti>ue was the last to be >ueried2 The founder closed by sayin) with a )reat smile, ho&e it doesn!t chan)e anytime soon2 7hat he was really sayin) was ho&e the maret doesn!t wae u& anytime soon2 =ust taled to a senior collea)ue and ased how many new meetin)s they had last wee - 3+ 'nd ne#t wee - J2 wanted to chec to mae sure2 4f course deals tae &recedent o(er meetin)s to
meet new &eo&le2 For those of you looin) for money and, or a Dream Team - how many meetin)s with new institutions, or &eo&le do you ha(e this wee - ne#t wee* These are only new meetin)s - no follow-u&s2 For those of you that aren!t with 9oldman Sachs, or Merrill %ynch, no one will call you+ ;ou must be the &roacti(e initiator2 Thou)h the bi) )uys should as well2 They don!t2 t is easier to )et to see these institutions and &eo&le durin) hard times+ Their calendars are not full2 They are hun)ry for business+ el& them, so they can hel& you achie(e your dreams2 f today was a test, how did you do* 7hat )rade would you )i(e yourself* Did you &ass* To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ The ne#t newsletter will be about a $%' de(otee that waited and suffered for si# years to reach his )oal of his first deal+ t was a )ood one - EG+0 million2 ho&e that now that he &artici&ates in our $%' .ulletin .oard by sharin) his nowled)e+ There are (ery few ha(e met in my entire &rofessional life that ha(e been more committed to success2 P+P+S+ ere is an article from the 7S? titled "The &ast is the &rolo)ue" recommend Bindleber)er!s boo Manias, Panics and CrashesH ' istory of Financial Crisis+ e is I years old+ e tau)ht for MT for years+ e is considered one of the best on the &lanet+ A 51-Der-O ,/$ 9$res Se$ff Is 8%0i$%s( $f St$c6-<r6et '"
.y ?4N 6+ %S6N8'T Staff 8e&orter of T6 7'%% ST866T ?4<8N'% %6QN9T4N, Mass+ R n a well-manicured .oston retirement community, Charles P+ Bindleber)er has watched the stoc-maret turmoil unfold durin) the &ast two years with a sense that he has seen it all before+ Mr+ Bindleber)er , a retired economist, wrote the I economics classic "Manias, Panics, and CrashesH ' istory of Financial Crises+" The boo, re>uired readin) for many 7all Street trainees and students of economic history, documents four centuries of boom-and-bust financial cycles+ t ran)es from a fleetin) bubble in the maret for Dutch tuli&s in G, to ram&ant s&eculation and subse>uent colla&ses in railroad shares in J and 0, to the De&ression in the IG1s, to the rise and fall of ?a&an!s &ro&erty maret in the late I1s and early II1s+ 't the a)e of I, Mr+ Bindleber)er , who tau)ht economics at the Massachusetts nstitute of Technolo)y for GG years, is one of the few retirees unshaen by the current maret turbulence R with the Dow ?ones ndustrial '(era)e down from the start of the year, des&ite 7ednesday!s bi) rally+ "!m ashamed to say en=oy the decline in the stoc maret," he says+ "t is what we call schadenfreude, a =oy in the troubles of others+" Mr+ Bindleber)er is )loatin) because he warned readers in the foreword of the third edition of "Manias, Panics, and Crashes," released in II, of what looed "sus&iciously lie a bubble in technolo)y stocs+" Paul Samuelson, a collea)ue and Nobel &rie-winnin) economist, admonished readers on the boo!s co(er, "Sometime in the ne#t fi(e years you may ic yourself for not readin) and re-readin) Bindleber)er!s boo+" "t is one of the most im&ortant boos for &eo&le on 7all Street to read," says 8ichard Sylla, who teaches a course on financial history at New ;or
Mr+ Bindleber)er!s own sa(in)s are in certificates of de&osit, money-maret funds and bonds+ is fortunes are also hel&ed by a recent u&tic in sales of his boo, accordin) to ?ohn 7iley L Sons, the boo!s &ublisher+ ' fourth edition was released in late 3111, in the wae of 'sia!s financial meltdown in II and II+ Mr+ Bindleber)er says he would lo(e to write a fifth edition full of details from the latest cor&orate scandals, or a boo about a housin)-&rice bubble he sees de(elo&in), but he doesn!t feel u& to it+ Still, he hasn!t sto&&ed worin)+ n No(ember, he wrote an essay on how to in(est when you!re I1 and contem&latin) death+ 's you )et older, he says, it maes sense to become more ris-a(erse because there is less time to ride out maret (olatility+ is ad(iceH "subtract your a)e from 11, and that is the &ercenta)e you should ha(e in e>uities+ " ' widower with four children, he still dri(es a II Ford 6scort, which he uses to (isit the barber and friends such as IJ-year-old former ar(ard ui(alent of an nternet stoc, it had no &rofits but bi) &lans for trade in sla(es to %atin 'merica+ ts shares soared more than fi(efold in four months! time and then flamed out as co&ycat com&anies multi&lied and insiders started sellin) shares+ Bni)ht fled 6n)land, ended u& in an 'ntwer& =ail and then broe out+ The Dutch tuli& bubble offers another e#am&le of how these cycles ha(e &layed out+ t started with the de(elo&ment of e#otic new breeds of tuli&s and was fueled by a boomin) Dutch economy+ 't its hei)ht, in(estors traded land, houses, farm animals, &aintin)s and )old for colorful tuli&s+ 4ne 5iceroy tuli& bulb, writes Mr+ Bindleber)er , commanded a down &ayment of ei)ht &i)s, a doen shee&, two o#heads of wine, four tons of butter, a thousand &ounds of cheese, a bed, clothin), some wheat and rye, and a sil(er beaer+ Some )reat crashes of history, such as the one durin) the time of the railroad boom, did set off recessions+ The se(erity and de&th of the downturn, Mr+ Bindleber)er says, de&ends a lot on how a))ressi(ely authorities fi)ht it+ Federal 8eser(e Chairman 'lan 9reens&an has done a masterful =ob fi)htin) off &re(ious crises, includin) the I maret crash and the II colla&se of hed)e fund %on) Term Ca&ital Mana)ement, Mr+ Bindleber)er says+ Today, he!s not con(inced the Fed is u& to the =ob because the bubble was so bi) and consumers are hea(ily indebted after bin)ein) on loans tied to e>uity in their homes+ " thin we!re )oin) to bounce alon) the bottom for a while," he says+ The ob=ect of his )reatest fascination today is the real-estate maret+ For wees, Mr+ Bindleber)er has been cuttin) out news&a&er cli&&in)s that hint at a bubble in the housin) maret, most notably on the 7est Coast+ Nationwide, median home &rices are u& about from a year a)o, e(en thou)h the stoc maret has taned and the economy has floundered+ 4(er the lon) term, economists a)ree,
housin) &rices can!t continue to out&ace )rowth in household incomes+ Mr+ Bindleber)er says he isn!t certain there is a housin) bubble yet, "but sus&ect it is+" The tric with s&ottin) real-estate bubbles, he says, is that they don!t always s&read+ n I30, for instance, real-estate &rices in Florida soared and crashed, but that didn!t s&read to the rest of the country+ ;et he notes that somethin) is distinctly different about the nation!s housin) maret today, when com&ared with I30+ Fannie Mae and Freddie Mac, two lar)e )o(ernment-s&onsored enter&rises, own or )uarantee nearly EG trillion in mort)a)es, hel&in) to ee& the mort)a)e maret li>uid with cash+ That is a boon to homeowners, but Mr+ Bindleber)er says he fears that Fannie Mae and Freddie Mac!s dee& nationwide &resence in the maret is fuelin) a s&eculati(e fire+ ".ans will mae a mort)a)e and sell it to them+ t means that the bans are ready to mort)a)e more and more and more and more+ t!s dan)erous, thin," he says+ ' Fannie Mae s&oeswoman describes the ar)ument as "&re&osterous," and notes Mr+ 9reens&an dismissed the chances of a housin) bubble in testimony to Con)ress last wee+ 8obert 5an 4rder, chief international economist for Freddie Mac, says home &rices mi)ht decelerate in the months ahead, but they!re unliely to crash because interest rates are so low, the in(entory of unsold homes is also low and the economy has &ro(en sur&risin)ly resilient+ ;et Mr+ Bindleber)er isn!t con(inced+ "f was G1 years youn)er," he says, "!d write a small boo on Fannie Mae and Freddie Mac+" P+P+P+S+ ere follows a recent letter from another $%' de(otee+ 's you will read in my ne#t newsletter there is a common thread to the &eo&le who succeed with $%'H To Dan PeñaH 8ememberin) a >uote by 7alt Disney+ ";ou may not realie it when it ha&&ens, but a ic in the teeth may be the best thin) in the world for you" Dan, wish to say "Than you" for the followin) "ics" you ha(e )i(en me to date+ recorded them in this note, lest dare for)et2 First and foremost - The 4&&ortunity - you o&ened the door2 + Tolerance @ am was an emotional ris2A 3+ Not to tal about alternati(e to&ics to third &arties+ G+ Not to mention my Networin) .ac)round+ J+ No bullshittin) @6#a))erated talA+ 0+ "9et it done" means "9et it done" &eriod2 + Do not =ustify @in returnA, (alid correcti(e ad(ice+ + %ea(e "micro" behind, mo(e to "M'C84" now2 + "Danny" - N4 - t!s Dan+ I+ %ose any inferiority+ 1+ don!t need to now all the answers to )et rich+ + Don!t "&ic fi)hts" with &eo&le+ 3+ No ne)ati(es re &ro)ress, to T99 team members+ G+ nform of any "una(ailable" times in ad(ance+ J+ "'S'P" is only to be used for emer)encies+ 0+ 6atin) scabs @a meta&horA if 4B if it )ets the bi) deal done222 !m sure there will be more+ loo forward to further )rowth, chan)e and the $% to come2 Thans Dan+
ISSUE #34 33-'u)-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
ha(e enclosed an email recei(ed from one of my $%' de(otees+ used the actual email as the format for my re&ly @in dar boldA+ Now that am an internet man can do such thin)s2 t may be hurtful to some2 7hilst others will chant ".ra(eheart, .ra(eheart2" - That!s what maes the world different and e#citin)+ ho&e you en=oy readin) about a lon) term stru))le that ended in success+ ha(e seen this youn) man throu)h a lot of tou)h times2 ha(e re&laced the (arious names with letters and initials to &rotect the innocent and )uilty+ T FN'%%; C%4S6D M, 'M 568; P84
4ur deal closed with an assi)ned (alue of EG+0M+ 4ur lender, n(estment L %oan, loaned ' '&artment Com&any, %%C E3+3M+ M Mana)ement is the Mana)in) Member of the %%C ownin) 00, with . ownin) 30 initially and ha(in) a "call o&tion" on Ste(e!s 31U+for an e(entual ownershi& &osition of J0 within 3 to 3J months+ ?M had another "s&ecialist" attorney within the firm write an amended o&eratin) a)reement that )i(es us the ability to "call" or tae o(er Ste(e!s 31 U++without interferin) with the lender documents+ The lender set aside E311B of the loan &roceeds as ca&ital im&ro(ement funds for the &ro&erty+ 's we mae the ca&ital im&ro(ements and im&ro(e the cash flowU++our lender is willin) to con(ert our brid)e loan into a J year "mini-&erm" and is willin) to lend additional funds de&endin) on the &erformance of the &ro&erty+ 7e!re &redictin) to be able to mae the con(ersion within to 3 months+ 'nd within another to 3 monthsU++refinance into a &ermanent loan with a lar)e e>uity &ayout+ SOUN8S GOO8! 4ur in(estment baners said it this was one of the "waciest" deals they!(e e(er done and the lender had similar comments2 owe(er, we now ha(e our first deal done222 'nd M Mana)ement owns 00 of a EG+0M &ro&ertyU+with us effecti(ely set u& to own J0U+ha(in) &ut in no money2 I +NE, DOU ,OUL8 8O IT! will be)in collectin) a salary and housin) allowance as of Monday from the &ro&erty++ THAN+ GO8!++ and as the &ro&erty!s cash flow im&ro(es we will be)in collectin) an asset mana)ement fee+ My wife has been out of town in 7yomin) at a family weddin)U+so closed this deal alone basically+ I +NE, DOU COUL8! @!(e been drinin) red wine out of one of my "9uthrie Castle 7ine 9lasses" that rec!d from you while at the "Castle 6#&erience in 'u)ust KI"U I ,ILL TOAST DOU ,HEN I SEE DOU!++ !d been sa(in) them to drin out of until our first deal closin)A I +NO, DOU HAVE
&ro(ed all the "na-sayers wron)2"++ I NEVE' HA8 A 8OUBT! AN8 TO DOU' I<
To Future $uantum %ea&s2 AGAIN
P+S+ Than you for sticin) with this &ro=ect++ THE'E ,AS NEVE' A 8OUBTUand me as a "mentee"++ I AL,ADS +NE, DOU ,OUL8 SUCCEE8 O' 8IE 9ALLING 9O',A'8!! ,HILST DOU CA
P+P+S+ f they only new the true &roblems that had to be o(ercome to )et this deal done and closedU+and how it came so close to not closin) at the last minute222 THAT IS HISTO'D! DOU A'E NO, A 8EAL 8OE'! ASDOU AL'EA8D +NO, FLA IS NOT 9O' EVE'DBO8D NOT EVEN
ISSUE #3> 3-'u)-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
From time to time see somethin) in the news that really mo(es me2 Sometimes the news is
&ositi(e and often it is ne)ati(e+ .elow is such an article from the Financial Times - ar)uably the best financial news&a&er in the world+ am not su))estin) you follow its &rece&ts+ ;ou may not e(en be aware such &ro)rams e#ist+ 7hen &eo&le as me "when did )et moti(ated*", tell them "7hen decided not to stay in the military and went bac to uni(ersity"+ can assure you where was raised and went to school, as a child, what is described in the article wasn!t e(en a dream+ My summers weren!t s&ent "at the shore" - they were s&ent in the streets2 t is a lon) article but in my o&inion worth it+ For those of you that ha(e youn) children it!s not too late2 T$ D$%r F%nt%m Le& 8n 7e: Sr
P+S+ said would )i(e you short letters in the future - not short attachments+ a&olo)ise2 Litte erners By Jonathan Green Financial Times
De(on 9reen, the slim, )lamorous C64 of a Florida recyclin) com&any, waits for her mornin) conference call+ She si)hs, &ushin) her &alms down her body and smoothin) any crinles from her blue-hoo&ed dress as she &o&s o&en her com&act to a&&ly Ma# Factor %e)endary %a(ender li&stic+ The s&eaer&hone cracles into life with the (oice of Da(id '+ enwood, chief in(estment officer for in(estment consultants 8aymond ?ames, for G1 years one of the 6ast Coast!s foremost e>uity analysts+ The call o(er, De(on strides &ur&osefully from one of the conference rooms in the bowels of the EJ11-a-ni)ht, fi(e-star 8it Carlton hotel+ 's she &asses the 7all Street ?ournals, arrayed on cabinet to&s in the corridor, they only confirm what she already nows - her unit trusts ha(e dro&&ed drastically in (alue+ 7ith e#&ensi(ely scented air conditionin) in her nostrils, she heads for the lobby u& the broad stairs, &ast &rints of 6n)lish country scenes and her brow be)ins to furrow+ This may be Florida, and one of the richest sections of beach in the world, home to 'merica!s old money and a &lay)round for the su&er-rich, but De(on has business in mind+ She reaches the lobby and her business &artner ?esse, comfortably ensconced in a hi)h-baced armchair+ De(on )rabs ?esse!s wrists and swin)s her round, ?esse!s feet lea(in) the floor and her body re(ol(in) in a blur - turnin) fi(e, si#, se(en times+ ";ou!(e crossed the line once too often," she says indi)nantly to ?esse, who has )one &orcelain-white and is so )iddy that her eyes are still re(ol(in)+ De(on then turns to me+ "See, !m a re)ular id when !m with my friends or my sister and then turn the switch and !m a businesswoman+" She flashes a winnin) )rin at an astonished waiter, who thou)ht ?esse!s whirlin) feet were about to send his trolleyful of chocolate caes flyin)+ De(on 9reen, founder and C64 of recyclin) com&any De(on!s eal the 7orld, is years old+ er business &artner and sister ?esse is fi(e+ 'nd today De(on has =ust taen one of her first classes in in(estin) in today!s bear maret+ .oth she and her sister are here in the sum&tuous )rounds of the Palm .each 8it Carlton, with its moneydrenched atmos&here, for the Bids Money Cam& 3113+ Parents from all o(er the
%eadin) the ha&&y cam&ers is Susan .radley, a self-styled financial )uru with a lac>uered hairstyle and a )lossy manner to match+ ' redoubtable woman, she is well nown around the &alm-fronded mansions of Palm .each for her Sudden Money nstitute, dedicated to co&in) with the &ressures of wealth+ She has been runnin) the cam&s for fi(e years in a town obsessed with money+ .ecause, aside from the ca(ernous mansions in the area owned by Don Bin), ?im Clar of Netsca&e and Si Newhouse of Cond Nast, Florida has no state income ta# and it is also le)al to file for banru&tcy and still ee& your &ro&erty+ Thus, the local &a&er in Palm .each often re&orts cases of se>uestered wealth, insider tradin) deals and mi)rants in their dro(es scurryin) for sanctuary from the fastcolla&sin) world of cor&orate 'merica+ So much so that the &o&ulation around Palm .each has doubled recently+ .radley!s moti(ation for her summer cam& is clearH "Money is the most &owerful force on the &lanet," she says with her sli)ht lis&, before addin) warily, "aside from reli)ion+" This year there are G ids at the cam&, ran)in) in a)e from to I @?esse is still too youn) to =oin her sisterA+ Swishin) into the hotel!s dri(eway in a Mercedes C3G1 and &ushin) his Mont .lanc &en into his to& &ocet, is -year-old Paul %ambert+ "This is the most e#citin) thin) ha(e done all summer," he says breathlessly+ " want to be a C64 when )et older+ ;es, the money and &ower are the draw," he nods, handin) the eys to the (alet+ .ut what about 6nron, 7orldCom and the tawdry scandals which ha(e robbed &eo&le of their life!s sa(in)s* ".ad accountin)," he says+ 4n his third money cam& since the a)e of 3, is the a&tly named Cash+ " was not named after money," he says, somewhat irritably+ "My dad!s an entre&reneur and named me after the ?ames 9arner character Cash McCall in the film of the same name who was an entre&reneur, always looin) for the ne#t business o&&ortunity - my dad said if he e(er had a id, that!s what he!d call him+" .ut as Cash about the s&eaers at the cam& and he is almost breathless with e#citement at the &ros&ect of tals from stri&y-shirted, braces-wearin) broers, in(estment mana)ers and heads of cor&orate de&artments+ "7here else could you )et to s&ea to the to& &eo&le from the bi))est ca&italist economy in the world*" he says e#citedly+ "t!s lie )oin) to basetball cam& and Michael ?ordan is there+" Cash, who )oes to the 6n)lish &ublic school Stonyhurst and has homes in 'scot and Palm .each, is wary of the &ress, thou)h+ "7hen was youn)er used to lo(e to tell a story about a friend of my dad!s who built u& a com&any, &ut it in his )irlfriend!s name and then banru&ted it," says the year-old+ " was inter(iewed and they =um&ed on that, which thou)ht was unfair+ =ust wanted to be lie my dad+" Susan .radley o&ens the three-day cam& with a fiery introduction on the im&ortance of money+ 6ach child is )i(en her boo, Sudden Money - Mana)in) a Financial 7indfall and a neat little mound of baseball hats, T-shirts, teddy bears and )olf nic-nacs, all emblaoned with cor&orate s&onsors+ "These &eo&le want their lo)o in front of you because you!re the future," she intones+ ".ut why is money im&ortant* 7hen you s&ea with your friends about it are there some &eo&le who thin, y!now, you!re a better &erson if you don!t ha(e any*" Some of the ids nod, in memory of those who don!t &lace such a reliance on fiscal success+ .radley continuesH ".ut is there anythin) that doesn!t ha(e anythin) to do with money*" The ids shae their heads+ "Noooooo, that!s ri)ht2" says .radley with a whoo&+ 4(er the ne#t few days they are taen throu)h conference calls and lectures and &ut throu)h (arious e#ercises while bein) ca=oled into answerin) >uestions from .radley, who throws out more com&limentary cor&orate merchandise for the correct answer+ The star of the cam& is undoubtedly De(on, who e(en )i(es a tal to the rest of the ids as &art of the syllabus+ She started her can-recyclin) business at the a)e of se(en, when her nei)hbour )a(e her some cans to tae to the dum& after a &arty+ Since then De(on has e#&anded it into a thri(in) concern - while coyly remainin) silent about its sie - donatin) G1 &er cent of her &rofits to charity and 31 &er cent as )ifts to friends and relati(es+ The remainin) 01 &er cent is fed into her ban
account and a nice mutual fund she has had )oin) for a few years+ She!s a star in Florida, winnin) a litany of charitable awards - such as the Miss Pre-Teen 'merica Scholarshi& and the umane Society of the Treasure Coast!s Chocolate Festi(al to& fundraiser and (olunteer - throu)h to bein), incredibly, a member of the Palm City Chamber of Commerce alon) with baners, lawyers and local businessmen+ %ocal businessmen tal about her with awe and at local fundraisin) dinners lo(e to recount the story of how De(on was at one of the Chambers business functions and was talin) to a &ossible contact but ran out of her business cards+ She ased him to wait, tellin) him that she wanted to )i(e him her card, left and, thinin) she was out of his eyeline, ho&&ed, si&&ed and =um&ed - missin) all the cracs in the fla)stones on the floor - to a table where her cards were+ She then calmly &iced u& her cards, =um&ed round and )racefully waled bac, handin) o(er a card with a flawless, cor&orate )rin+ er s&eech may be rehearsed to a T, but it!s en)a)in)+ 'nd when there aren!t any (olunteers from the entire room of ids, stocbroers in blac braces and other adults, to come to the front and hold a ma)net a)ainst (arious metallic ob=ects to demonstrate that anythin) ma)netic cannot be recycled, De(on ta&s her feet, e#amines her fin)er nails and says baldlyH " wanna see a show of hands ne#t time+" 'nd when she ends withH " may be one &erson, but am one &erson who can mae a difference", the other cam&ers swallow hard while cla&&in)+ .alancin) ?esse on his nee and holdin) a camcorder to his eye throu)hout the entire e(ent is De(on!s dad, Michael, undoubtedly her minence )rise+ 4ne feels he was lar)ely res&onsible for her website and business name, De(on!s eal the 7orld+ e smiles fondly at her as she )i(es him a &ro&rietorial win while doin) her s&eech+ "She learnt how to mae money at an early a)e," he says, )rinnin)+ ".ut !(e seen her turn that switch - one minute she!s the youn) ambassador, the youn) businesswoman and then she!s bac to bein) a id+ "f she ends u& as a leader of a lar)e business, well + + + " 'nd he!s lost in re(erie, dreamin) of the future+ .ut sna&&in) out of it, and een to em&hasise his dau)hter!s charitable strea as well as her money-main) &otential, he adds hurriedlyH ".ut if she had to close a &lant or somethin) because it was un&rofitable, she would find =obs for e(eryone there+" That said, De(on seems rather taen with a s&eech by Sharon MacDonald, former director of mer)ers and ac>uisitions mana)er at 8enaissance 7orld 7ide, a leadin) &ro(ider of information technolo)y ser(ices+ 's the ids sit wide-eyed, MacDonald details her meteoric and ruthless ascent of the cor&orate tree in New ;or, talin) about the Pac-man theory, and how when she )oes into com&anies to &osition for resale she "cuts out all the dead wood"+ De(on listens intently+ 'fterwards the ids are told to form )rou&s and draw u& a list of a short-term )oal and a lon)-term )oal and how both can be achie(ed financially+ 4ne )rou& comes u& with buyin) a 9ucci handba), the ne#t two buyin) cars and De(on wants to buy a little do) for E011, which e(eryone oohs and aahs about+ ;et her lon)-term )oal, it trans&ires, ins&ired by MacDonald!s tal, is to )o one sta)e further+ She intends to buy out and own the &et sho& within fi(e years of buyin) her little do)+ 7hat ha&&ens if the owner lo(es his sho& and doesn!t want to sell* "Then there would be a hostile taeo(er," she says rather brus>uely, while worin) on the fi)ures+ .radley is een to &lay down this sort of attitude and there is a lar)e &art of the course de(oted to &hilanthro&y+ Many of the ids here are so rich that they will )i(e millions away for ta# breas, and, they claim, to hel& those less fortunate than themsel(es+ There is a tal by Phil Flynn, of Philanthro&ic Focus, an or)anisation that s&ecialises in settin) u& family foundations to hel& wealthy families )i(e in the ri)ht way+ The ids are ased to read
family members but, well, they don!t earn as much+" 7ith cor&orate 'merica busy cleanin) u& its ima)e, many of the ids from wealthy bac)rounds are already fluent in the emollient lan)ua)e of charity+ Da(e and .ecy Serwit, and I, from California, are accom&anied throu)hout the entire cam& by their &arents Marshall and .?+ 's the family wrestles, =a&es and shows how lo(in) they are, holdin) forth at e(ery Money Cam& e(ent, the other ids can only loo on and feel sli)htly dysfunctional that their families aren!t the same+ The Serwites are a hu)e e#tended family and ha(e four other siblin)s, all away on other cam&s+ "7hen &eo&le as why we ha(e such a lar)e family they say we must either be Catholic, Mormon or stu&id," says dad+ The children all )rin, as does mom+ "7ell, we!re not Catholic or Mormon+" 'nd with that the whole family breas into raucous lau)hter+ Marshall is a financial ad(iser, dealin) with Californians who ha(e a minimum of EGm to in(est+ e sits at the bac of all the tals at the money cam& either noddin) his head in a)reement or contradictin) what the s&eaers say+ 6(ery year he )i(es his children EG11 to donate and each year the family will call in re&resentati(es from notable charities who ha(e to )i(e a tal in front of his ids to &ro(e why they should )et the money - then the family all decide who is )i(en the money+ %ast year it was Da(e!s colle)e wrestlin) team+ "7ell, that!s a worthy cause isn!t it*" he says with a )rin+ "They really )a(e me somethin)+" %ie other &arents, Marshall has sent his ids here to ac>uire one of life!s most im&ortant sills+ "f you are =ust a little bit financially literate and start from an early a)e, that can mae a hu)e difference o(er a lifetime," he says, &roudly+ 'lthou)h in >uieter moments the ids are not >uite so enamoured+ "There!s no way would tell my friends had been here," says .ecy+ "!d ne(er hear the end of it+" 's the cam& draws to a close, Susan .radley is u&beat+ She &lans to maret the cam& - in only its fifth year - worldwide, seein) herself as a fiscal messiah, the Pied Pi&er of %ucre+ " am ready to e#&and this as a )lobal business," she says+ 'nd mer)ers and ac>uisitions su&remo Sharon Macdonald is ea)er to be in(ol(edH ";es, Sharon has shown )reat interest+" .ut isn!t there a ca(eat here* Shouldn!t children =ust be children and only ha(e to suffer the horrors of money mana)ement when they are older* "That!s an attitude we )et from the .ritish &ress all the time," says .radley+ "Money is not a )ood or bad thin) - it!s a fact of life+ mean, where else are these ids )onna )et this ty&e of nowled)e* t!s a crucial life sill+" .ut De(on 9reen - her )lossy P8 falterin) sli)htly and the needs of an -year-old tain) o(er seems somewhat &leased it has ended+ "Dad, can we )o to the beach now*" she im&lores+ No, he says, it!s a lon) dri(e bac u& state to where they li(e+ t seems e(en those who ha(e to heal the world can!t )et time off these days+ T$ D$%r F%nt%m Le& 8n 7e: Sr
ISSUE #35 3G-4ct-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
n recent wees ha(e been )lobetrottin) sellin) an in(estment idea+ t is not a new idea, but it is different (is--(is the current sentiment in the financial world+ 4f course what better time to e(oe chan)e than durin) a time of financial chaos* could relate countless stories when ha(e
counselled ad nauseum to )o a)ainst the con(entional wisdom, but won!t2 made a >uasi )uarantee / &romise to someone, res&ect a )reat deal, to ee& these letters short+ nstead will use two of my fa(ourite >uotes by men ha(e )reat res&ect for, who ha(e &ut their mar on the in(estment business and financial world+ 4ne was one of the )reat in(estment )urus of the &ast and the other is currently, the )reatest in(estor of the last J1 years and &erha&s of all time+ n fact am )oin) to mae these >uotes the to&ics of my eynote s&eeches for the comin) year2 4f course mi)ht not )et as many in(itations when they, "The Cor&orate 7orld", hear what my to&ic will be for 311G2 Sir Sie)mund 7arbur), founder of what is now called <.S 7arbur) was a li(in) financial le)end in the IJ1!s, 01!s, 1!s and into the 1!s+ 7arren .uffet, the "Sa)e of 4maha" as he is called has been the benchmar for in(estment e#cellence throu)h the 1!s, 1!s and I1!s till now+ To)ether they co(er the s&ectrum of the last 1 &lus years+ Stran)ely enou)h they both said about the same thin), in (ery different ways+ They both had some (ery direct words to describe, what is referred to as the "herd mentality" of the financial community+ ' mentality that is ali(e and e#tremely well all o(er the cor&orate and financial world2 SI' SIEG
"The &rimary &oint seems to me always to be the >uality of the ser(ice and the coura)e to &ersist in )i(in) well-considered ad(ice, no matter how un&o&ular that mi)ht be at times+" ,A''EN BU99ET
"Most mana)ers ha(e (ery little incenti(e to mae the intelli)ent-but-with-some-chance-of-looin)lie-an-idiot decision+ Their &ersonal )ain/loss ratio is all too ob(ious+ Failin) con(entionally is the route to )o: as a )rou&, lemmin)s may ha(e a rotten ima)e, but no indi(idual lemmin) has e(er recei(ed bad &ress+" 'll my G3 year career ha(e fou)ht con(entional wisdom (i)orously2 ha(e also been a (ery stron) &ro&onent of e#treme disci&line2 7hilst there are cultural reasons around the world =ustifyin) different ways don!t wor e(erywhere, this is a (ery small + France is different than California - True2 9ermany is different than 'ustralia - True2 'nd the
)i(en u& on their )oals way before thirty+ The mid-si#ty year old has accom&lished a )reat deal, &lus looin) the bi) "D" in the eye+ Death blined2 n addition to his dreams he has )one on to hel& others stare down the bi) "D"+ The mid-forty year old, an accom&lished world-class senior e#ecuti(e leader has succeeded way ahead of the cur(e and could easily sit bac on his accom&lishments+ That would certainly be the "safe cor&orate C;'" thin) to do2 e hasn!t2 'll three are fi)htin) the fi)ht e(eryday2 'll ha(e benchmars for e#cellence2 'll are benchmars of e#cellence2 f today were a test, how would you )rade yourself* 8emember what )ets measured )ets done2 Measure yourself each day2 %i(e e(ery day as if it were your last2 The )reatest ris is not tain) one2 Play to win2 T$ D$%r F%nt%m Le& 8nie S 7e: Sr
ISSUE #)* 1-No(-13 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er T/e H%nt f$r T/e ;7erfect; 8e
@and a (ital lesson not to be for)ottenA That one must "unt", for a deal o&&ortunity is the only thin) in the abo(e title that would e(en come close to bein) "&erfect" or e(en any where near the truth in the actual e&isode am about to relate to you+ ,/"
4f course, there is no "&erfect" deal2 n reality, 'N; deal re>uires "huntin) down"+ The only (ariable is the time it taes until the tar)et has been found and ultimately ac>uired2 8$es T/e Bi 8$ H%nt
They will run, they will hide, they will double-bac and e(ade ca&ture at all costs, but there is no substitute for bloodhound &ersistence and "laser beam focus" then success must follow+ n the course of The 9uthrie 9rou&!s @T99A on)oin) deal )eneration, this (ery )ame of "deal huntin)" is a continuous acti(ity - in the )ood times and the bad+ The Princi&als of T99 are far from "fair weather" hunters - as ho&efully are you, my $%' readers2 's has always been said, "one of the best times to e#&and is in a down cycle" hence you double your wor effort when times are tou)h+ Ancient C/inese 7r$ver0
"Man who stand on side of mountain waitin) for roast duc to fly into mouth, )ot loooooon) wait2" "Doin) the numbers", "turnin) rocs", "issin) fro)s" - we are all familiar with the (ariety of @trueA clichs that abound in the $%' &hiloso&hy+ nterestin)ly, you can do the same thin) o(er and o(er and )et results that are as different as &o(erty and wealth+ The difference between those two results is =ust one more &hone call, =ust one more meetin)+ Sme Acti$ns - 8ifferent 'es%ts
ere!s the story as related to me of a recent meetin) T99 &artoo inH 's &art of a cam&ai)n to re(iew &re(ious %e(era)ed .uy-4ut transactions, T99 decided to write to and follow-u& @by &honeA the C64s of o(er 301 com&anies+ n each case the letters were &osted and
within -1 days the C64s were &ersonally called and then e-mailed as a follow-u& by a $%' de(otee / T99 collea)ue+ @8ememberH No follow-u& - for)et it2 - you may as well not send the letter in the first &laceA+ 7hilst a few of the C64s a&&roached, actually called T99 bac @the best result &ossible - and an e#am&le that we were usin) numbers to our benefitA, the o&&osite end of the results s&ectrum also occurred2 There wereH "won!t tae the calls", "han) u& in your ears" and "rin) you bac to abuse you" res&onses+ The focus of this story howe(er, is one C64 in &articular, who seemed interested in doin) a deal after the letter and subse>uent 0-minute &hone &resentation and then a)reed to meet in &erson @the ne#t ste& to discuss a &ossible deal o&&ortunityA+ @t was a &rofitable com&any with a turno(er of a&&ro#imately 1M or EI1MA 4n the &hone this C64 was ">uite friendly", ased a number of )ood >uestions and u&on conclusion looed forward to the F-3-F meetin) that was set u&+ There was one &oint that stuc out on the call+ as was told+ Int%iti$n = G%t 9eein - T/e <$t/er $f 8ecisi$n <6in
n the con(ersation, this C64 made an unnecessary and somewhat crude, dero)atory comment about his P'/Secretary @actually in her &resenceA which was noted by my collea)ue+ ')ainst a )ut instinct to "flush him" ri)ht then, arran)ements were made to meet anyway+ Two of my collea)ues met and somethin) une#&ected occurred+ Firstly, for some "unnown reason" one collea)ue did not hand their business card o(er @when this tas is usually carried out immediatelyA+ Secondly, it became a&&arent that after a fi(e-minute introduction, thin)s were not )oin) well+ There was a &an-faced e#&ression by the C64 throu)hout the introduction, a resistance to =oinin) them for a coffee and criticisms about the surroundin)s they were in after he wanted to meet somewhere he would blend in+ ronically they were in a club =ust (oted the best &ri(ate members club in %ondon+ 5ery soon, they all o&enly shared their true feelin)s and this C64 &roceeded to fire out a few com&etiti(e and confusin) comments+ 7ithin the ne#t few minutes, further (erbal e#chan)es, e#&lainin) what one could do with their (arious li(es had breached the s&eech barrier by my youn)est collea)ue and they &arted com&any+ .oth collea)ues tried to sa(e the meetin), but the C64 wouldn!t ha(e it+ 'fter the meetin) was o(er @which lasted about minutes when normally these meetin)s would be about I1-31 minutesA they reflected after me =oinin) them o(er a coffee+ e had recei(ed the same treatment as e(eryone else, the same information, the same a&&roach, the same e-mail and they met at the same meetin) (enue and yet they had not "hit it off"+ 7hy not* 7ho nows* !(e told my collea)ues learn from the e#&erience+ Since it is the first time this has occurred this year - not to worry2 e is =ust one of the 301X &eo&le a&&roached+ n that amount of numbers you are )oin) to )et all &otentials and all (ariables - e#&ect it2 C$nc%si$n
The im&ortant &oint of this story is, if the little (oice inside "intuition" had been listened to, they would not ha(e bothered meetin) in the first &lace and it all would ha(e been a(oided+ n other words, do not doubt yourself - 94 7T T6 9
P+S+ 'nother short letter2 thin lie it2 P+P+S+ 8emember if Moses had used consensus mana)ement or had taen a &oll - he would ne(er ha(e disco(ered 6)y&t2
ISSUE #)1 A fe ti&s fr$m 8n 7en $n settin n c/ievin $s
's is for most &eo&le around this &art of the year, Dan Pena taes a closer loo at settin) and achie(in) )oals+ 's a custom Dan loos at settin) )oals in this newsletter that are related to him, his family and his business+ 7hile at the end what )ets measured )ets done, Dan brin)s his e#&erience of o(er G1 years to )i(e a few ti&s on settin) and achie(in) )oals+ e says while settin) )oals, they should be written, re(iewed, chan)ed and affirmed+ Mo(in) away from con(entional thinin), Dan belie(es there are no time limits in settin) and achie(in) )oals+ 9ettin) a little unrealistic while settin) )oals hel&s+ 't least there is a tendency to mo(e away from the comfort one and stretch out to achie(e it+ ue and athletes of all descri&tions ha(e been followin) this &rocedure fore(er2 N4 TM6 %MTS2 Con(entional 7isdom says "set time limits"+ &ut no time limits on )oal settin)+ ha(e found time limits act as deterrents rather than benchmars+ Similarly in school you were )i(en so much time to )et somethin) done - by 9od it too you that much time2 also found time limits allow you to a)ree with con(entional wisdom much too easily+ was told countless times, don!t be in such a hurry, you are way a head of schedule now2 didn!t listen much to that - than 9od2 N4T 86'%STC2 'nother con(entional &rece&t is the notion of settin) realistic )oals+ 4f course this is ad(ised so you don!t feel badly and discoura)ed when you don!t accom&lish your )oals+ 9uess what2 f you are not risin) anythin) you don!t ha(e sufficient incenti(e to do "what e(er it taes" to )et the =ob com&leted+ f the )oal and the actions to achie(e them aren!t tain) you out of your comfort one -
they aren!t main) you really stretch2 P68S4N'% 94'%S2 ha(e had two sets of &ersonal )oals datin) bac to I + 9oals that tal about and may ha(e some other &artici&ants and 3+ 7hat ?im Newman used to call "under the sin )oals"+ The later )oals are (ery &ri(ate and are shared with only your si)nificant other and mentor+ These "under the sin )oals" are of a (ery &ersonal nature that are only shared with those that will &ro(ide encoura)ement and su&&ort+ 't times they may seem of an embarrassin) nature, but are of e#treme im&ortance to your o(er all well bein) and success+ 'nd yes my friends if your &artner is not &art of your )oal scheme, it has little chance of succeedin)+ My e#&erience is most relationshi&s, both &ersonal and business, bust u& because )oals are different+ F'M%; 94'%S2 My family )oals ha(e (aried o(er the years based on where my children were in their own life cycles (is-Z-(is their mother!s and mine+ Many of these )oals should be =ointly set+ 'nd children!s )oals @for themsel(esA will (ary a )reat deal, but if you )et them in the habit of settin) )oals they will by default )et in the habit of achie(in) )oals+ 's your family )rows so do your )oals+ learned my ideas of what my children should do (aried )reatly, from what they thou)ht they should do+ 7ith any ind of )oal settin) &ositi(e reinforcement is a must2 's Plato said, "as lon) as &ro)ress is bein) made, no matter how slowly, ne(er discoura)e"+ would differ with the )reat master on the slowness+ Peña Personal 9oal2 's many of you now my fathers only )oal for me was to ee& me ali(e until reached the a)e of reason+ For me this came later than most+ My military e#&erience chan)ed my life+ Thou)h new what disci&line and inte)rity meant intellectually from childhood didn!t really understand the emotional commitment necessary to succeed+ 7hen was deemed "an officer and a )entleman" by an act of the
a(era)e benchmars+ ;es, almost all &eo&le set )oals too low2 They do this due to their lac of self esteem and not wantin) to )et out of their comfort one+ t is also due to listenin) to &eo&le that ha(e set unfulfillin) )oals themsel(es2 'nd 9rou& )oal settin) is an art not a science+ 7'B6
P+S+ 7hilst looin) at the bulletin board on the $%' web site, ha(e noticed there are fre>uently >uestions ased that are already answered in one of the J1 &re(ious newsletters+ Thou)h some of you ha(e read them many times, since they aren!t titled on the site, only the most dili)ent would be able to ascertain the (arious sub=ect matter+ Soon they will be listed by sub=ect matter+ P+P+S+ 's said in ?anuary 311 and re&eated in 3113, don!t e#&ect the stoc maret to mae u& your &ortfolio losses+ say the same for 311G+ also see both commercial and residential real estate @&ro&ertyA marets wei)hin) hea(y+ 4f course, this information is free, so you can tae it for what you &aid for it+ t!s your choice2 n the cor&orate buy out marets we ha(e seen another year of contraction and transformation, The recent .ur)er Bin) sale for about +0 billion was /G less than the e#&ected 3+3 billion is a si)n of the (endors &rice comin) in line with reality+ Therefore see li)ht at the end of the tunnel+ 's you can see by The 9uthrie 9rou& website @www+the)uthrie)rou&+co+uA we had a record year2
ISSUE #)2 8n 7en rec$mmenti$ns f$r &ers$n ife c$c/ n &ers$n s%ccess c$c/
's another New ;ear sets in Dan Pena )i(es you his (iews on a &ersonal life coach and &ersonal success coach+ t!s also a ri)ht time to chec what wors and what doesn!t+ This year too Dan as a &ersonal success coach recommends not wastin) time on thin)s that can!t chan)e+ n this newsletter Dan Pena )i(es away the secrets of a &ersonal life coach by re(ealin) 0 Beys for Su&er Success+ deally while choosin) a &ersonal life coach there are some )uidelines that need to be taen care of which Dan Pena tals about+ This newsletter clearly tals of each of these characteristics while choosin) a &ersonal success coach+ e also tals of fear, &ractice, &erce&tion, reality, credos to success and a massi(e &ositi(e action+ To find out more read on and also be &art of this &ersonal success coach a)enda where each ey is dealt in de&th+ 7hile re(iewin) the main headlines hel&s to re-focus thou)hts and more im&ortantly actions, Dan also )i(es methods of becomin) successful alon) with their &ros and cons+ n the New ;ear it is a )reat time to re(iew what wors and what doesn!t+ 's ha(e said countless times, "Don!t waste time on thin)s you can!t chan)e" and "nsanity is doin) thin)s o(er and o(er and e#&ectin) different results+" n that (ain ha(e re-listed the 0 Beys for Su&er Success below+ The 4ne Day $%' Seminar @)i(en at eathrowA )oes into each Bey in de&th+ .ut re(iewin) the main headlines will hel& to re-
focus your thou)hts and more im&ortantly your actions+ Pre&arin) for ;our $uantum %ea& @0 Beys to Su&er SuccessA B6; H Su&er Success is not for e(eryone2 B6; 3H ;ou cannot become a hi)h-&erformance &erson &art-time2 B6; GH ;ou cannot ha(e it all - there is a "Pay Price in 'ction for 8eward" B6; JH ;ou must chan)e - do it badly N47 if you ha(e to because &erfection &aralysis2 B6; 0H Do not listen to Morons2 Con(entional wisdom is almost always wron)2 B6; H ;ou are who you associate with - model success2 B6; H
- Most &eo&le do not achie(e the success they desire and deser(e because they are labourin) in a field of endea(our about which they are not &assionate+ - F8ST find somethin) you are &assionate about, S6C4ND, start or buy a business based around that+ B6; 0H ;ou must be laser-beam focused on success and tae M'SS56 P4ST56 'CT4N2 - 'nother word for "focus" is DSCP%N62 - Moti(ation )ets you started, disci&line ee&s you )oin)+ 8e(iew these often, alon) with your )oals+ 's of 311G re(iew my )oals daily alon) with (arious &arts of $%' &hiloso&hy want to &lace additional em&hasis on for myself+ f today was a test - how would you )rade yourself, ero to one hundred* 's yourself this >uestion when you )o to bed each and e(ery day+ Bee& a monthly score+ 7hat is your monthly a(era)e includin) weeends* would lie forthri)ht feedbac in G1 days t ime+ will relate the s bac @with no namesA and my thou)hts+ ;ou can use the $%' bulletin board for your feedbac for annomunity+ To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ 's &romised the &ast $%' Newsletters now ha(e titles for easier reference+ ' few ha(e been remo(ed for lac of timelines and redundancy+
ISSUE #)3 I-May-311G From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
t has been some time since my last newsletter+ t still amaes me that many of the >uestions )et are either answered on the bulletin board, on my web sites, or in &re(ious newsletters+ 4f course $%' &roduct answers them all2 chec the bulletin board often, but rarely write+ The board is for your use, amon)st your sel(es+ am im&ressed by some of the disclosure and answers+ read my &ast newsletters, to refresh my memory+ also loo at my web sites to )ather my thou)hts from time to time+ e(en listen to my (arious ta&es+ f do this, as myself, why can!t my readers and other de(otees* f you are serious about what you want to do )oin) forward, would thin it would be the (ery least you do2 The real answer is not all are serious2 6i)ht years of coachin) has &ro(en without a doubt true &ersonal de(elo&ment is rare2 'nd belief system chan)e is e(en more rare2 ha(e attached a &ara)ra&h from an email recei(ed today that illustrates true chan)e2 recei(e re>uests often, not =ust for sa)e ad(ice, but also often for money+ The re>uests come in different forms but at the end of the day they want an easier way forward+ They want a short cut, and there
are no short cuts to success or bein) a hi)h &erformance indi(idual+ For most of these re>uests ha(e a &olite answer+ No2 For a few )i(e a len)thier retort+ 's you can read below, this youn) man was )i(en my usual answer+ Now sometime later he realised what did for him was the best thin) could do+ %ie a )ood &arent, coach or mentor should, made him ultimately decide for himself+ Sometimes because of &ressure constraints you need to &ush the &rocess faster and )i(e the correct answer now, so they don!t drown+ .ut a few )ul&s of water ne(er hurt anyone2 'll did was &ush @sho(eA him in the ri)ht direction+ didn!t use my GG years e#&erience, or 0,111 &re(ious decisions+ t was an easy tas on my &art+ assure you it wasn!t easy for him [ in fact it was )ut wrenchin)+ 'nd as it turned out he res&onded &ositi(ely+ 8ememberin), that which does not ill me maes me stron)er+ 7hat isn!t easy is )i(in) this ad(ice when you &ersonally care, and in this instance lied the id a lot2 ;our emotional ban account can always interfere+ can still remember my dad hittin) me as a youth for misbeha(in) and sayin), this hurts me more than you2 would lie to thin it was true, thou)h stru))le to belie(e it e(en now+ 6#cer&t from youn) entre&reneur @6uro&eanAH Dear Dan f you =ust hel&ed me out se(eral months a)o with a che>ue, would not ha(e e#&erienced what ha(e o(er these months+ ;ou hel&ed me )ettin) the best out of myself+ ;ou made me thin about a lot of to&ics would ne(er ha(e if not confronted in the way was and you hel&ed me find myself, the &erson want to be+ 'nother email recei(ed today came from a de(otee that chan)ed more slowly+ e ased if chan)ed the $%' methodolo)y+ e had recommended a )uy to $%' the sister com&any to T99+ e used $%' successfully and told a friend+ e was wonderin) if the basis of $%' methodolo)y, success fees, had chan)ed+ 4f course the &rece&ts ha(e been the same for o(er 31 years, since formulated the $%' thou)ht &rocess+ told him no+ Nothin) had chan)ed and it was still bein) used around the world+ Professionals all o(er were still doin) success stuff+ .ut not unless you as2 added that my or)aniations hadn!t dealt on a total success fee basis for some time now+ 'll he had to do was "read my (arious web sites" and he would be informed+ said, no lon)er a day-to-day coach, neither , nor my collea)ues had time for total success fees+ t was now mandatory for the indi(idual to show commitment and only &art of the fee came on success+ Thou)h usually this was the bi))est &ortion+ e has been a de(otee of $%' for some time+ 's you can see he has followed the daily $%' measurement idea )a(e you months a)o+ 'nyone that can maintain an 1 a(era)e for two months runnin) must succeed2 @is email followsA+ Dear Dan, a(e you chan)ed your $%' methodolo)y away from the success-fee model as outlined in your &ublished materials and more towards fee for ser(ice* e&t )oin) with your measurement test and ha(e 3 more months of 1 X+ could )o on ad nauseum with e#am&les, but won!t+ 4ne of my 6uro&ean friends and mentees has nicely su))ested ee&in) these and other corres&ondence short+ 'lthou)h must say lie to err writin) "war and &eace" (erbose len)ths2 was )oin) to write this newsletter on a boo, written in the mid KI1s called $uantum Com&anies, which showed 11 com&anies that would chan)e your life and the world+ 4f course many are )one from the &lanet+ ' few are hu)e successes+ That letter will ha(e to wait till another time+ My oldest son did the research last summer when he was T99 intern+ S&eain) of interns, had a coffee with one of my &ast interns a few wees a)o in N;C+ ha(e
mentioned him before, .ob 5erdier+ e is now with one of the bi) 7all Street )iants+ t was )reat to see him+ ha(e had in&ut into his short life since IIG+ 's many reli)ions say, if you can )et hold of them youn) enou)h you can mae a difference+ No am not a reli)ion, thou)h ha(e been accused of bein) a cult leader+ Cult, accordin) to the 7ebster!s DictionaryH de(oted attachment to a &erson, or a &rinci&le+ To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ Some s&ecial news will be comin) out on my site in the ne#t few wees2
ISSUE #)) '%es f$r es t$ /e& c/$$se &ers$n s%ccess c$c/
n this newsletter that is hi)hly recommended for &eo&le looin) for a &ersonal success coach, Dan Pena breas away from con(ention and &ublishes a list of thin)s to remember which can be used on a daily basis+ 'lso included is another list that has been &ublished earlier which is done by .ill 9ates+ t is from a hi)h school )rad s&eech - a must-read for anybody o(er G1 and li(ed a sheltered life+ Dan says that a &ersonal success coach is one who after attainin) success does not )et heady about it+ Facts are, if indi(iduals who thin the world re(ol(es around them disa&&eared from the earth, the world would still be s&innin)+ n the thin)s to remember list there are some (ery encoura)in) thou)hts that tal of ha&&iness, betterin) one!s self-esteem, success, life!s best moments, deadlines, o&&ortunities and time+ 6ach of these statements in this newsletter forms the essentials to mae an enter&risin) &ersonal success coach+ 7hile .ill 9ates rules are in the face, there are no mincin) words on decidin) who maes a &ersonal success coach+ 's a si)nin) off note, Dan Pena sets a reminder no matter where one is in life - it is someone else!s dream2 3I-May-311G From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
don!t normally forward (erbatim thin)s recei(e from my (arious sources+ This letter is an e#ce&tion to that norm+ "The Thin)s To 8emember" is &riceless+ Many of the thin)s listed you ha(e heard before, but &erha&s not all to)ether+ Carry them with you and read them often+ 9i(e them to your ids+ Pass them on to &eo&le you deal with on a day to day basis+ The second list is one ha(e used before+ t is credited to .ill 9ates+ t is from a hi)h school )rad s&eech made by him+ 7e all ha(e or now children )raduatin) form school now+ t is amusin) to read if you are o(er G1 and li(ed e(en a sheltered life+ f you ha(e li(ed a tou)h life as many of us ha(e, it is funny enou)h to mae you )et cram&s from lau)hter2 ha(e sent it to my three children+ Two are in colle)e and one is in hi)h school+ Thus far only my year old has res&onded, sayin) it sounds lie stuff ha(e told them+ 7e all, es&ecially, if we ha(e attained any success, tae our sel(es too seriously2 4f course if you ha(e achie(ed no success you don!t tae yourself serious at all+ n fact you &robably don!t rate yourself at all [ and you should rate yourself2 That!s how self esteem is built, one ste& at a time2 7e all now indi(iduals that thin the world @or their bi, or their de&artmentA re(ol(es around themsel(es+ 9uess what2 f they disa&&eared from the earth, the world would still be s&innin)+ Mr 9ratsos, my mentor at 4nassis Shi&&in) 31 years a)o once told me how im&ortant anyone is in
the cosmos of time2 Put your hand in a &ail of water+ Pull it out+ 7hat ha&&ens* ow lon) does it tae to fill the (oid* ow lon) does the water ri&&le* thin you )et the &icture2 Stay focused, but remember the abo(e+ a(e some fun2 am blessed, because truly lo(e what do2 ha(e for GG years+ .ut it doesn!t mean you will be doin) the same thin) all your life2 ha(e had four sta)es so far in my business life cycle+ f you don!t lo(e what you do, thin hard about what you are doin)2 f you don!t lo(e what you do, it will only )et tou)her as you )et older, and the older you )et the harder to chan)e+ 's ha(e said many times, find somethin) you are &assionate about and wra& a career around it-now2 J THINGS TO 'E
+ No one can ruin your day without ;4<8 &ermission+ 3+ Most &eo&le will be about as ha&&y, as they decide to be+ G+ 4thers can sto& you tem&orarily, but only you can do it &ermanently+ J+ 7hate(er you are willin) to &ut u& with, is e#actly what you will ha(e+ 0+ Success sto&s when you do+ + 7hen your shi& comes inU mae sure you are willin) to unload it+ + ;ou will ne(er "ha(e it all to)ether+" + %ife is a =ourneyUnot a destination+ 6n=oy the tri&2 I+ The bi))est lie on the &lanetH "7hen )et what want, will be ha&&y+" 1+ The best way to esca&e your &roblem is to sol(e it+ + !(e learned that ultimately, Ktaers! lose and K)i(ers! win+ 3+ %ife!s &recious moments don!t ha(e (alue, unless they are shared+ G+ f you don!t start, it!s certain you won!t arri(e+ J+ 7e often fear the thin) we want the most+ 0+ e or she who lau)hsUUlasts+ + ;esterday was the deadline for all com&laints+ + %oo for o&&ortunitiesUnot )uarantees+ + %ife is what!s comin)U+not what was+ I+ Success is )ettin) u& one more time+ 31+ Now is the most interestin) time of all+ 3+ 7hen thin)s )o wron)U++don!t )o with them+ Summer is u&on us+ Stay focused, but ha(e some fun2 %i(e each day, as it was your last, because it could be2 KBi Gte(s '%esK
8ule H %ife is not fair R )et used to it 8ule 3H The world won!t care about your self-esteem+ The world will e#&ect you to accom&lish somethin) .6F486 you feel )ood about yourself+ 8ule GH ;ou will N4T mae J1 thousand dollars a year ri)ht ;ou won!t be a (ice-&resident with a car &hone, until you earn both+ 8ule JH f you thin your teacher is tou)h, wait till you ha(e tenure+
8ule 0H Fli&&in) bur)ers is not beneath your di)nity+ ;our had a different word for bur)er fli&&in) R they called it o&&ortunity+ 8ule H f you mess u&, it!s not your &arents! fault, so mistaes, learn from them+ 8ule H .efore you were born, your &arents weren!t as borin) They )ot that way from &ayin) your bills, cleanin) your clothes and listenin) to you tal about how cool you are+ So before you sa(e the rain forest from the &arasites of your &arents! )eneration, try delousin) the closet in your own room+ 8ule H ;our school may ha(e done away with winners and losers, n some schools they ha(e abolished failin) )rades and they!ll )i(e you as many times as you want to )et the ri)ht answer+ This doesn!t bear the sli)htest resemblance to 'N;TN9 in real life+ 8ule IH %ife is not di(ided into semesters+ ;ou don!t )et few em&loyers are interested in hel&in) you find yourself+ Do that on your own time+ 8ule 1H Tele(ision is N4T real life+ n real life &eo&le the coffee sho& and )o to =obs+ 8ule H .e nice to nerds+ Chances are you!ll end u& worin) for one+ 'nd remember no matter where you are in life [ your life is someone else!s dream2 To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ No ha(en!t )one nuts2 am s&endin) more time at 9uthrie and doin) thin)s wouldn!t ha(e done earlier in my life2 8emember real chan)e is rare2 'nd belief system chan)e is e(en more rare2 P+P+S+ ho&e you are testin) yourself e(eryday+ 're you &assin)* 7ould you hire yourself* 7ould you fire yourself* 7ould you come to wor for yourself* 7ould you )o to wor !t ha(e to* 'nswer truthfully+
ISSUE #) 3I-May-311G From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
's ha(e written since IIG and said ad nauseam for o(er G1 years there is ne(er a )ood @or easyA time to mae a difficult decision+ ' friend of mine recently hired the le)endary ?ac 7elch, the former C64 of 96 to &er u& the em&loyees at a lar)e com&any+ Mr 7elch s&ends a )ood deal of time in retirement s&eain) on his successful methods of business+ 'ctually the &rece&ts ha(e been around a (ery lon) time+ There is nothin) new about )reat leadershi&+ My friend wored on this endea(our o(er a year+ To mae this ha&&en he went throu)h se(eral (ery tense moments+ Firms that re&resent )uys lie 7elch are hard to )et alon) with and now they are in a seller!s maret+ Durin) the lon) &rocess &redicted most of the hurdles and my friend dealt with them admirably, thou)h it a)ed him considerably+ The e(ent was ori)inally scheduled for March 3113+ Durin) the 1-minute session 7elch co(ered some of his basic &rece&ts of business+ ha(e attached his salient &oints+ Most of the &oints are thin)s and many others ha(e said and written+ t is a (ery )ood short outline to follow+ 7hat ins&ired me to write about Mr 7elch!s 1-minute tal was based on two emails recei(ed
bac to bac from two (ery different indi(iduals+ 4ne, a friend ha(e wored with for se(eral years and now (ery well+ e is C64 of a multi billion dollar or)anisation+ had forwarded it to him F;+ e came bac with, it was ")ood stuff"+ Most F;!s to him recei(e no res&onse+ 'fter all they are F;!s+ .ut the mere fact that he res&onded &ositi(ely, and res&ect his o&inion a lot, made me loo at the list a)ain notwithstandin) there was nothin) new on the list for me+ 7hen did saw how )ood it was2 %esson learnedH 'lways tae a second loo2 The other came from one of the many $%' de(otees+ e was writin) to tell me of a recent success+ e has followed the $%' methodolo)y and has a lot of my $%' &roducts+ e also &artici&ates on the $%' bulletin board and writes me from time to time+ will address his email in a further newsletter in detail+ e and his &artner also too some 3 months to mae a deal @an ac>uisitionA and ha(e been worin) that lon) on two other deals+ There were many tou)h decisions alon) the way+ For e#am&le there is ne(er a )ood, or con(enient time to tell someone, es&ecially an indi(idual owner, their com&any isn!t worth what they need+ 6s&ecially when you are buyin) it with the seller!s own money in an earn out2 em&hasise the word need, because most small to medium sied com&anies are sold on a basis of what they need to retire, etc+ Their (aluation, if you can call it that, isn!t based on any criteria learned at any business school+ 'nother &ossible tou)h scenario is when you ha(e to tell someone (is--(is their business that their son, or dau)hter are as worthless as breasts on a wild boar2 8emember all sales of this sie are full of emotions+ Durin) this 3 month &eriod, as if they needed more &roblems, their o&erations director, a former main board director of a bi) com&any, stole a )ood sie chun of money from them on the way =ust to mae thin)s more interestin)+ .ut they stayed focused and &ut the ball in the net+ %east we let bi) com&anies off the hoo when talin) about sellin) assets, many times the sales &rice has no relationshi& to (alueH i+e+ they need a certain &rice so they won!t tae a loss on the boos: or the C64 or CF4 su&&orted the &urchase and now it must be sold at a &remium: or the same )uys are in lo(e with the deal and they really don!t want to sell+ 9ood leadershi& habits hel& you mae the tou)h calls+ ?im 8yan the )reat miler told me o(er G1 years a)o, ins&iration )ets you )oin) and )ood habits ee&s you )oin)+ ha(e ne(er for)otten that credo and it is one reason wor some e(ery day, e(en if don!t ha(e to or want to+ ;es there are some days, e(en , would rather not wor+ 4f course the second reason is lo(e what do, so there are (ery few days would rather not wor, in fact don!t e(en consider what do as wor2 The first and third indi(idual both too o(er a year to accom&lish their )oal+ .oth used (arious leadershi& styles, to )et to the )oal line+ .oth had and ha(e a (ision and &ractice many of &rece&ts listed below+ .oth ha(e strate)ies, whilst they aren!t as lar)e as the second indi(idual!s they need &lannin) and e#ecution+ "D4 MP48T'NT TN9S 'ND %6'56 T6 86ST uantum difference between !s L G and 3 is their allocation of time on small thin)s that in reality don!t e(er ha(e to )et com&leted+ 7hen you are startin) from a small &latform or from scratch you are &redis&osed to doin) little stuff+ ;ou ha(e no choice, or at least you don!t thin you do+ t is hard for you to distin)uish since you did e(erythin) in the be)innin)+ t is difficult to form )ood habits of dele)ation, because you ha(e no one to dele)ate to, but you should ne(er for)et e(erythin) shouldn!t be dele)ated because e(erythin) doesn!t ha(e to )et done2 t is you in the leadershi& ca&acity that must mae that call+ t is a difficult call and some ne(er mae the transition+ 7hether you are at the be)innin) of your )rowth cycle, or near the to& of your cycle @and you should be sellin)A the attached list of winnin) ideas can be of )reat use+ 's with all useful ideas merely readin), and or writin) them down alone doesn!t )et the ball in the net+ That is why there are countless &oor and emotionally unfulfilled PD!s+ ;ou must tae &ositi(e action to in(oe &ermanent lastin) chan)e2 f you merely followed the last fi(e items on 7elch!s list - "Plannin) ;our Future" - you would be far ahead of I0 of the com&etitors2
To ;our $uantum %ea& Daniel S+ Peña, Sr
ISSUE #). 8n 7en is n ie &ers$n s%ccess c$c/ Lern t$ c/$$se $ne fr$m /is ife n events t/r$%/ t/is nesetter
6(erybody needs a &ersonal success coach who can be looed u&on as mentors and role models+ There is always a sense of re(erence and res&ect attached to a &ersonal success coach+ Most famed &ersonalities ha(e a crafted similarity and there are moments one sees an emer)in) reflection of their &ersonal success coach amon) themsel(es+ This means ali)nin) the thou)ht &rocess with these indi(iduals and then tain) a sli)ht (ariation de&endin) on circumstances and situations+ Thou)h a &ersonal success coach wors and trains it is the belief in one! self that that matters+ Pro&er mentorin) leads to confidence which is de(elo&ed to handle situations+ There are &lenty of tri))ers that can hel& in =ud)in) the flamboyance of an indi(idual and their &rinci&les held dear in their li(es+ ' &ersonal success coach would ha(e e#traordinary traits and would be in &erfect sync with e(erythin)+ The meticulous nature and e#&erience o(er the years dri(es them forward and after a certain le(el, the sense of achie(ement is so hi)h that e(en relationshi&s become discretionary+ The whole e#ercise of redisco(erin) one!s self in the same e#istin) en(ironment maes the difference+ Fun is also the cerebral mae-u& of the ideal &ersonal success coach and reachin) the &innacle of achie(ement, it is well worth en=oyin) life and li(in) it in) sie and doin) what!s im&ortant and for)et the rest2+ Follow the sim&le &rinci&le yesterday!s dreams are today!s realities and most im&ortantly en=oy the fruits of labour now2 Dan Pena is the ideal &ersonal success coach and throu)h his life and e(ents described in this newsletter the ideals for success are learnt+ 7hilst roamin) around my )rounds on my )olf cart the other day, came across a man outside my west )ate that is ad=acent to 9uthrie (illa)e+ e was elderly and in a wheel chair+ e mo(ed towards me and introduced himself+ ha(e li(ed here for I years and had ne(er seen him, let alone met him+ 7e chatted for a few minutes about how nice and &eaceful 9uthrie was and how fabulous the weather had been+ @n case you didn!t hear 6uro&e had a ma=or heat wa(e that e(en s&read to ScotlandA+ made one of my fa(ourite obser(ations that nothin) had chan)ed in I years+ said, the only difference was, u&&er 9uthrie @u& the hillA had a new &hone booth and lower 9uthrie =ust outside my )ate had a new &ost @mailA bo#+ There are no stores, &ubs or sho&s+ ' church and a cemetery are the only additions to the landsca&e+ e said nothin) had chan)ed in the J3 years he had li(ed in his cotta)e+ e went on to tell me stories about Colonel (an 9uthrie, the last &atriarch of the 9uthrie clan+ e shared stories how (an had ser(ed in $ueen 5ictoria!s time+ 'nd how (an was an eccentric, thou)h he didn!t call him that+ e said, he used to )allo& around the estate on his horse+ e taled in a ind of re(erence about this man+ e ob(iously had some res&ect for him+ e also said, (an had &hotos in an e#hibition fashion in the castle tellin) the story of his life+ t a&&eared as if he thou)ht (an had had a wonderful life and a&&arently en=oyed it to the fullest+ n a (ery surreal manner thou)ht he mi)ht also be referrin) to me and the life ha(e had to date+ 4f course don!t ride on a horse around the )rounds+ ride a )olf cart and wal the &erimeter almost e(ery day+ now my nei)hbour had ne(er met, hadn!t been in my home, but too ha(e
many &hotos and articles throu)hout what we call the "9reat 7estern 7in)" where s&ent much of my time worin) and coachin)+ 7e had such a nice tal, me sittin) in my cart and he in his wheel chair basin) in the warm sun+ e said he soon would =oin the others in the 9uthrie cemetery, 11 meters away+ e seemed e#tremely content with no worries and free of all stress+ belie(e he mi)ht actually loo forward to it+ shoo his hand sayin) was ha&&y to meet him+ e shoo my hand (ery firmly+ t was the ind of handshae you )et from someone who read a boo, or had attended a class on &ower of &resence+ slowly turned to )o bac+ e said, with a )reat smile on his face, ";esterday!s Dreams 're Today!s 8ealities2"+ said, ";es", with e(en a bi))er smile on my face2 mumbled under my breath, how (ery true as dro(e o(er my &ro&erty line to what was my dream many years a)o and still one of my )reatest &assions, "9uthrie Castle"+ ha(e &ondered why he said what he did* ha(e thou)ht &erha&s it was a dream, or it was lie a twili)ht one e#&erience+ Could this man ha(e read my boo* 7ebsite* Not liely+ 'ccordin) to .ritish Telecom, only G3 out of 0,111 &o&ulation ha(e re>uested DS% in all of 'n)us County+ So how many e(en ha(e com&uters* now many don!t+ dro(e directly bac to 9uthrie %och in the centre of my &ro&erty, where there is a monument @with a time ca&sule insideA that was )i(en to me by my wife for my 01th birthday+ nscribed on the talian marble isH Daniel S+ Peña, Sr+ 'u)ust 1, II0 ";esterday!s Dreams are Today!s 8ealities" Many &eo&le on the &ro&erty that don!t now me often thin am buried there+ 'ctually it mi)ht be a )reat &lace to &ut me+ The (iew is s&ectacular2 Now, let me share with you some e#citin) newsH recently announced, ha(e decided to reduce )reatly my busy schedule e(en more and ha(e mo(ed bac to 9uthrie Castle full time+ ' castle home was my dream since IG+ mo(ed here with my family in IJ+ ste&&ed down as C64 of The 9uthrie 9rou& 3G May, 311G+ 's ha(e written here before, ha(e e#tracted myself as &art of a lon)-term &lan from all e#ecuti(e &ositions in recent years+ remain Chairman of The 9uthrie 9rou& and will maintain my relationshi&s with select clients and friends+ will also ee& worin) with a few mentees that are "$uantum %ea&s n Pro)ress"+ 8ecently told the ..C in a T5 inter(iew, "'fter GG years in "the eye of the ti)er" all o(er the world, ha(e decided to do fun stuff lie, www+)uthriecastle+com+ want to en=oy more fully what started my >uest, 9uthrie Castle+ My dream was to li(e in a castle on an island since IG, thou)h .ritain isn!t what had in mind as an island, 9uthrie Castle is e#actly what dreamt"+ 4n a recent (isit from my dau)hter, saw sites had ne(er seen thou)h ha(e li(ed near them for I years+ &lan on doin) much more of this in the future+ also am tain) ad(anta)e of ha(in) my own -hole )olf course+ recently hired a Carnoustie 9olf %ins @site of the III .ritish 4&en Cham&ionshi&A trained )reensee&er to refurbish my course+ e has made many )reat chan)es+ 'nd ha(e learned how to dri(e the (arious lar)e machines used to maintain the course - cut a mean fairway2 a(in) recently had my 0th birthday, am )oin) to en=oy life e(en more than ha(e in the &ast+ ha(e written many times $%' methodolo)y is all about li(in) e(eryday as it was your last+ n that (ain, my lon)est standin) friend of J1 years emailed me a few months a)o to say a friend of his had &assed away suddenly+ e and my friend were )oin) to come to 9uthrie to &lay )olf this month+ e was our a)e+ My friend said, do what!s im&ortant and for)et the rest2 There are two messa)es in this letterH ";esterday!s Dreams 're Today!s 8ealities": and most im&ortantly "en=oy the fruits of your labour now2" merely &lan on en=oyin) myself e(en more in the ne#t J1 - 01 years2
To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ For those that thin my writin) stran)e, don!t worry2 am in )reat health and intend to be around for a (ery lon) time - to see my children!s )randchildren2
ISSUE #)4 T/e insie st$r" $f &ers$n ife c$c/
' hi)h &erformer can comfortably be considered as a &ersonal life coach+ ' &ersonal life coach breas away, soarin) hi)h in the sy and maybe there all alone+ The basic truth is today there are countless reasons )i(en by &eo&le for not fulfillin) their )oals and this leads them to unins&ired li(es as it hinders their choice of a &ersonal life coach+ The reasons could be ri)ht from blamin) s&ouses to not ha(in) the stomach to handle it+ 4r as a defense claimin) money isn!t e(erythin) or money can!t buy ha&&iness2 'li)nin) one!s self to thin - money alone buys freedom to mae infinite amount of choices is acce&table+ Not all )oals are financial and o(er a &eriod of time with more choices de(elo&ed a situation arises which can be en(ious to others+ This leads on to reasonin) why many don!t achie(e their )oals+ 7ithout a &ersonal life coach, the influence of the belief system, a socio and economic influence is re>uired to fulfill dreams+ 'dded to this is a ma=or influence of &eo&le in the immediate circle+ This could mean lie minded &eo&le meetin) to)ether and relatin) with one another+ .ut on the contrary, when a &ersonal life coach is a hi)h &erformer there is a tendency to soar hi)h in sy all alone because they are loners+ The truth is whether alone or not - soar2 This newsletter is an abstract of a hi)h &erformer!s e-mail which is a ma=or source of ins&iration and can be the ideal &ersonal life coach+ t tals of the fears &eo&le ha(e e(en thou)h they ha(e money+ t clearly brin)s out the truth that &erce&tion is reality and absence of e(idence is not e(idence of absence+ 'll what a &ersonal life coach recommends+ )et letters from &eo&le often+ 4ccasionally share them with my readers+ &rotect their real identity, so they maintain their &ri(acy+ "little &eo&le", alon) with the bi) )uys, fondly remind myself of such terrific e#am&les+ still )et chills when read a story lie the one below+ Notwithstandin) it too him @coincidentallyA years he ne(er )a(e u& ho&e+ ")i(in) u&, or in to outside &ressure" to soon+ ha(e heard countless reasonsH my mort)a)e, my ids education, my wife @and this is most often the caseA, my =ob doesn!t allow me the time, don!t ha(e the will, don!t ha(e the stomach, and the bi))est one of them all-money isn!t e(erythin)2 4r money can!t buy you ha&&iness2 "buys" you freedom to mae infinitely more choices+ The indi(idual who writes below now has a continuum of choices he couldn!t ha(e en(isioned years a)o2 That!s a )reat new &roblem (irtually all of you would lie to ha(e2 So why do so many not achie(e their )oals* 's the writer so a&&ro&riately states - it!s "your belief system" that ee&s you from fulfillin) your dreams+ 7e are all &roducts of our socio and economic milieu!s+ 7e are whom we han) out with, or as the ids used to say, chill out with+ @ am a little unclear what that really means+A ha(e written, ne(er met a &art time hi)h &erformance &erson+ 'nd lie &eo&le con)re)ate to)ether in lie surroundin)s - with &eo&le they relate to+ That is not to say hi)h &erformance &eo&le don!t fly alone+ 4n the contrary they soar often alone lie an ea)le+ Many hi)h &erformance &eo&le are &ercei(ed to be loners+ 7hether you!re a loner or not - soar2
Now read what this hi)h &erformance &erson has to say+ Mentally &ut yourself in his &lace+ 5isualise where he is and what he is thinin)+ E11,111 a wee isn!t all the money in the world, but it isn!t bad2 Considerin) he has come from E0 an hour+ ' "worin) stiff" as he refers to himself+ Not bad at all2 t maes me &roud to forward you this email2 To ;our $uantum %ea& Daniel S+ Peña, Sr P+S+ t is &leasin) to read, as often do, there are &eo&le who would still lie to hear me s&ea+ ;ou can still hear me as often as you lie throu)h $%' &roduct+ U if you could tell Dan KThans! for me, !d a&&reciate it - he!s res&onsible for my new lifestyle+ won!t bore you with all of the details, but was fortunate enou)h to hear Dan in IIJ, when he s&oe in %os 'n)eles U is style and thou)ht &rocess ca&tured my attention com&letely+ recorded his short s&eech, and listened to those ta&es e(ery few months while dri(in) my IIJ onda Ci(ic to and from wor+ new one day would brea into the hi-&erformance world that was waitin) for me+ My thinin) was com&letely different than anybody newU had a hard time communicatin) with anyone because my thou)ht &rocess was so different+ ere am thinin) Macro, and e(eryone is thinin) Micro+ 't that time, had a K)ood =ob! @i+e+H worin) stiffA and was worin) ni)hts for a )rocery com&any earnin) about E0+11 /hr+ @
ISSUE #)> U+ Life C$c/ n 7ers$n S%ccess C$c/ 8n 7en(s Seminr $n FLA
'isin C&it n 8es n Ac%isiti$ns
' &ersonal success coach is a necessity in life+ Dan Pena is a leadin) &ersonal success coach with a belief that the only constant in life is chan)e and the sooner one learns to co&e and e#ceed in a chan)in) en(ironment the sooner success hits+ This newsletter distin)uishes what &eo&le en=oy and also determine the dri(in) force+ 4&inions are &lenty, but hel&in) &eo&le )et across the )oal line is what!s im&ortant+ 7ith sim&le illustrations that are easily understood, this newsletter tals of the seminar and how s&ecial it is for &eo&le listenin) to $%' Methodolo)y at 9uthrie Castle+ The G Day $%' e(ent was held in the summer of 311 and was for &eo&le who couldn!t mae it earlier2 Positioned as uisitions+ 7hether it is bi) or small deals, the con(entional truth s&oen by a &ersonal success coach is e(en blind ho)s will be findin) bi) acorns2 a&&y New ;ear2 P68SST6NC6 P';S 4FF 'fter 3` years of re>uests ha(e decided to )i(e the readers what they want [ another $%' Seminar+ ha(e =ust com&leted re(iewin) 311G as has been my &ractice for many years+ Part of my re)imen is looin) at what did that don!t want to do anymore and what wish did more of, but didn!t for whate(er reason+ The only constant in life is chan)e and the sooner we all learn to co&e and e#ceed in a chan)in) en(ironment the sooner we will succeed )eometrically2 @7hilst writin) this newsletter recei(ed a call from a lon) lost student+ attach the essence of the call as a P+P+S+A This &rocess became more acute because of a re>uest made to me in late 311G+ ' friend and client of The 9uthrie 9rou& and $%' de(otee ased if would consider doin) a seminar in February 311J+ ;ou may remember sto&&ed seminars in 311+ e su))ested "8aisin) Ca&ital" as the to&ic most &eo&le are interested in+ said would and started my &re&arations+ 's life would ha(e it this seminar won!t tae &lace - no fault of mine - but it )ot me thinin) what it was lie doin) what en=oy - hel&in) &eo&le main) their $uantum %ea& by s&eain) on sub=ect matter now as well as anyone2 decided, as do about most thin)s in my life, since was looin) forward to it - should do it2 6r)o, ha(e decided to )i(e a seminar this s&rin) here at 9uthrie+ ha(e recei(ed a number of re>uests since )a(e my last seminar here in 'u)ust 311+ must admit miss the interaction with the attendees, but don!t miss the tra(el+ 's ha(e said countless times, s&eain) in front of &eo&le hel&s ee& you shar&2 Some former attendees thin merely en=oyed yellin) at the attendees+ Thou)h that was &art of the ambiance, too )reat &leasure in hel&in) attendees )et across the )oal line+ still en=oy recei(in) emails and letters of attendees and users of my &roduct that tell me their many successes+ ha(e &ublished se(eral of these o(er the years in this newsletter+ 's you mi)ht remember some of their stories are >uite remarable+ The one thin) the stories all ha(e in common is it was a rou)h road and they ne(er )a(e u& dreamin)2 The seminar will be J ni)hts and G days, lie the one in 311+ 't this =uncture it is en(isa)ed will as a cou&le of my current &artners to attend to min)le with the attendees+ attach a reduced (ersion of a recent email from one of my &artners who ased about )i(in) another seminar+ t!s worth readin)2 Michael is a winner2 ha(e written about him before+ Peo&le ha(e told me, bein) here and listenin) to $%' Methodolo)y is somethin) s&ecial since 9uthrie was my dream+ Therefore will o&en the uni(erse to more so they can share in the 9uthrie Castle e#&erience, so will char)e accordin)ly+ The cost will be only 01 of the cost of my "final" seminar held in the summer of 311 - &erha&s the &eo&le that couldn!t mae it before can now mae
it+ Thou)h it is at the reduced &rice it will be the same G Day $%' info as the 311 e(ent2 4ne of my current mentees feels stron)ly should char)e a lot more to mae it e#clusi(e+ That is the con(entional wisdom from whom >ueried+ 4f course decided to )o a)ainst con(entional wisdom and you are the beneficiaries2 The seminar will be held in early '&ril and will co(er $%' Methodolo)y, "8aisin) Ca&ital" and "Deals and 'c>uisitions" - one day each+ 'll attendees will recei(e the III 4ne Day $%' 'udio and 5ideo as a free )ift @a (alue of uite some thou)ht, while belie(e there are a million and one comments could mae here U these are some of my thou)hts+ First off, belie(e the indi(idual must understand that $%' is a (ery dee&, internaliation-chan)e &rocess that is only &ossible for &eo&le that ha(e an e#treme desire and un-wa(erin) commitmentU belie(e the indi(idual has to ha(e the desire and ca&acity to be able to focus e#clusi(ely on truly absorbin) the information+ For me, find myself consistently recallin) information from our business emails, &hone calls and in &erson meetin)s o(er the years, .uire bi) "u&-front" earnest money de&osits and e>uity money, they are slow mo(in) and it usually taes se(eral )enerations to build u& real net worth, li>uidity and wealth+ owe(er, throu)h &erse(erance and continued belief in you/$%', !(e been able to ada&t $%' methodolo)ies to bein) able to do lar)e scale multi-family housin) deals and buildin) net worth, li>uidity and wealth now at the a)e of =ust turnin) G32 'nd if myself as an indi(idual, would ha(e had more financial acumen, business sills, etc+ and &erha&s most of allU would ha(e had the ability to erase all my &reconditionin) and instantly in=ect my brain with the information from you, your business &ro)rams and the information the boo &ro(ided me o(er 0 years a)o, would ha(e been able to ada&t and chan)e >uicer and would ha(e achie(ed success >uicerUmuch >uicer+ These are some of my initial thou)hts+ $uantum %ea&s in &ro)ress2-Michael P+P+S+ 7hilst writin) this newsletter )ot a call from a former student who had &ut his family throu)h the G day seminars+ n fact he &ut his four sons @G lawyersA and a dau)hter in law @a lawyerA throu)h $%' trainin)+ e had built a successful business+
my .ulletin .oard on my site: he felt uncomfortable lea(in) his story in a messa)e asin) for hel&+ e said in many different ways was doin) the ri)ht thin) in )i(in) a seminar a)ain+ e said ha(e too much to offer not to use it+ e read me what had written him in the st &a)e of my boo almost 0 years a)o+ t was scary how accurate had been+ don!t need reinforcement when mae a decision, as most do, as ha(e written and said countless times+ f it loos and feels hot - it!s hot+ am looin) forward to seein) a )rou& of you here soon2 t will be an e#&erience you will ne(er for)et+ loo u&on each and e(ery Castle 6#&erience fondly2
ISSUE #)5 3st ?anuary 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
rarely write news letters so close to)ether, but ha(e )ood reasons to do so now+ 4ne, recei(ed this thou)ht &ro(oin) messa)e @belowA on my @ourA bulletin board at www+dan&ena+com and two, am ha&&y to write the seminar announced in my Newsletter of I ?an is o(er subscribed, so ha(e decided to ha(e another seminar this summer+ 's you will tell from my writin) here the momentum has become infectious+ f it feels ri)ht, smells ri)ht and tastes ri)ht - it must be ri)ht2 t also seems you a&&reciate the )reatly reduced &rices2 8emember it!s hot - or it!s not2 + 's ha(e written and said countless times we should li(e e(ery day as if it were our last+ ha(e e(en be))ed seminar &artici&ants to li(e life on &ur&ose+ My Peaisms and other writin)s are filled with >uotes about tain) account of your li(es+ ha(e demanded you tae res&onsibility for your li(es and actions+ Many of you ha(e heard me as, "what will be your le)acy*", "7hat would you want &ut on your tombstone*" .ut ne(er thou)ht about what would &ut on mine2 So when this messa)e a&&eared on my @ourA site was mo(ed+ was es&ecially mo(ed by the two >uestions below, because of the (ery recent loss of my Mother who had =ust mo(ed to be with me at 9uthrie+ She was a (ery s&ecial &erson, thou)h really didn!t a&&reciate what she had done for me till late in her life, since started coachin) in IIG+ My Mom was always su&&orti(e of e(erythin) did+ 's ha(e said many times, she read in 8eaders Di)est @or somewhereA in about IJ, you should ne(er use the word "no" when dealin) with your child+ Therefore, was raised in an en(ironment that had no ne)ati(es associated with it from my Mom+ 7e now all understand how e#tremely im&ortant that was to establishin) a basis for my self esteem+ uestioned how would (iew my life!s le)acy and what would &ut on my own tombstone, was truly mo(ed+ t made me &onder what words should write on my mothers* The messa)e below was left a few days a)o+ i Dan 2 First of all !m dee&ly im&ressed about your career in business and &ri(ate life+ !(e watched your (ideo seminar o(er and o(er and was o(erwhelmed by your ener)y+ Dan, what will be the le)acy from you to all of us in one sentence** 7hat is this ey messa)e on your tombstone** !m ea)er to read the answerU+ Bee& on )oin)2 . won!t try and relate my thou)hts in one sentence (is--(is my le)acy, but can tell you what tell
the ones lo(eH "wra& your life around what you!re &assionate about and lea(e this life with no re)rets for the thin)s you didn!t do - but could ha(e done2" 'nd thou)h ha(en!t &lanned my tombstone yet, "To ;our $uantum %ea&" would be a&&ro&riate as my )ood friend and collea)ue .ruce 7hi&&le su))ested+ The time ca&sule near the 9uthrie loch and Jth tee of 9uthrie Castle 9olf Course has inscribed on its marble to&, ";esterday!s Dreams are Today!s 8ealities+" Perha&s will ha(e both &hrases inscribed+ The real &oint of this messa)e in res&onse to the .ulletin .oard >uery is to consciously thin e(ery day of what we are attem&tin) to achie(e in our short li(es and did we )et any closer today* Normally we thin about our li(es when we are at the end+ My entire $%' Methodolo)y is based on doin) now - not later2 Tain) &ositi(e action now2 %i(in) life to its fullest2 .ein) all we can be2 's yourself how you would answer the >uestions &ut to me* - o&efully some of you will use the .ulletin .oard to answer+ 's an aside, the .ulletin .oard, alon) with other &arts of the site, will ha(e chan)es soon to mae it more "user friendly and interacti(e", includin) D5D, CD (ideo and sound bites+ 3+ was &leasantly sur&rised to see the seminar announced in my last news letter was o(er subscribed in a few days+ &ur&osely didn!t )i(e a date, or &rice+ only said it would cost 01 of my last Castle 6#&erience in 'u)ust of 311+ Those that en>uired were told, it would be 3- '&ril at 9uthrie+ 5irtually all were &leasantly sur&rised at the cost+ ' few didn!t understand the cost also included room and board at 9uthrie+ am ha(in) a lot of fun with the idea of )i(in) a seminar a)ain and ha(e already started tinerin) with a few content details main) it current, thou)h the conce&ts are timeless+ Therefore, because of your &ositi(e res&onse, and a new enthusiasm fired u& in me, am announcin) another G day, J ni)ht seminar -33 ?une at 9uthrie for the same cost+ 4r as the seminar )urus say, "Not cost but - n(estment"+ Details can be obtained from Paul Morris at &+morrisYdan&ena+com+ am looin) forward to interfacin) with attendees in '&ril and ?une+ The last ni)ht will be a "blac tie e(ent" as is customary for a Castle 6#&erience+ uested stretchin) their time for local tra(el and )olf+ 'll reasonable re>uests will be considered+ The material co(ered will be $%' day , 8aisin) Ca&ital day 3, and Deals and 'c>uisitions day G+ Days 3 and G will be structured around the &artici&ants own needs after the $%' basics are co(ered+ 'll >uestions will be addressed+ My time is your time whilst you are here+ loo forward to sharin) what ha(e learned o(er my GJ year career at my home+ 's you will see and feel 9uthrie Castle and its en(irons are an e#traordinary (enue to learn and share dreams2 f today was a test - how did you do* For those of you that decide to tae &ositi(e action and attend a castle e#&erience - 9<'8'NT66 you will answer this >uestion much differently subse>uent to your attendance2 'nd to answer a few >ueries - ha(e no &lans on )i(in) $%' Seminars any&lace other than 9uthrie+ To ;our $uantum %ea&, Dan P+S+ ;esterday the .ritish .roadcastin) Com&any @..CA filmed &art of a documentary here at 9uthrie+ 7hen talin) about dreams and our two friendly )hosts, shared true stories about others dreams bein) initiated here at 9uthrie+ 7hilst 9uthrie was my dream, it has been at the core of many seminar attendees dreams comin) true datin) bac to IIJ+ ha(e written and taled about the "5erdiers" who came to 9uthrie 1 years a)o+ Their li(es were chan)ed, as ha(e many others+ They ha(e now li(ed on a rural estate in a lar)e mansion near 7ashin)ton DC for / years and are the &roud owners of a thri(in) business that continues to e#&and )reatly+ .efore they came to 9uthrie they were already successful+ They had already found a model that wored, but they wanted more and were willin) to chan)e+ The e#&erience had a ma=or effect on their entire family, as they
ha(e readily written and said many times+ They remain my friends+
ISSUE #* 7ers$nit" eve$&ment seminrs n &ers$n eve$&ment &r$rm fr$m 8n 7en
n this newsletter, there is write-u& of a host of &ersonality de(elo&ment seminars and a &ersonal de(elo&ment &ro)ram+ The details are carried out in this newsletter and will also be seen on the Dan Pena website as well+ The u&comin) two Castle 6(ents will be featured here and it will also tal of the (arious $%' de(otees and &artner scheduled to be there+ 'fter a two and a half year layoff Dan Pena has decided to start the G-day $uantum %ea& 'd(anta)e Castle 6#&erience seminars a)ain+ 'fter main) a leadershi& s&eech across the world and tain) &art in seminars and worsho&s, Dan!s fa(ourite is the Castle 6#&erience+ n fact, Dan ur)es readers to wor toward their dream and &assion which is a storyboo ambience+ Most of the material de(elo&ed for this &ersonality de(elo&ment seminars and &ersonal de(elo&ment &ro)ram is timeless and these are a(ailable for sale+ The format would for the ?une G day and J ni)ht seminars will be de(oted to, day basic $%', day 8aisin) Ca&ital and day Deal Main) and 'c>uisitions+ Dan thans followers for their &erse(erance to hold these seminars at 9uthrie which otherwise would not ha(e ha&&ened2 e is also (ery ha&&y and satisfied to hear from many who ha(e encoura)ed him to bac a comebac to the seminar &ul&it2 This newsletter deals with the &ersonality de(elo&ment seminars where attendees can build a &ersonal model for success+ There are (arious illustrations that clearly describe how some of the attendees ha(e benefited2 N67 S6MN'8 P'96 / P84Duisitions ta&es to &re&are for the u&comin) seminar, was struc by how the &roduct material is so timeless+ n fact ha(e decided to sell @to my newsletter subscribers onlyA the "8aisin) Ca&ital" and "Deal Main) and 'c>uisitions" ta&es for I0 instead of G0+ ;ou really need to ha(e these so you can listen to them re)ularly2 f still )et benefit, =ust ima)ine what )ood they will do you2 @email &+morrisYdan&ena+com for detailsA
The '&ril and ?une G day and J ni)ht seminars will be de(oted to, day basic $%', day 8aisin) Ca&ital and day Deal Main) and 'c>uisitions+ This associated &roduct is outstandin)+ had for)otten how )reat it truly is2 The only way to )et a better emersion is to hear me in &erson+ Thou)h (irtually all successful $%' de(otees say, you also need the &roduct to )et additional doses of Dan to continue to re&licate the $%' methodolo)y till it!s &art of you+ 'nd as ha(e written some ha(e actually worn the ta&es out - which we re&lace free of char)e+ There is a direct relationshi& to those that li(e $%' and their &ersonal success+ had thou)ht my messa)e could continue to hel& &eo&le without me &ersonally )i(in) seminars+ 7'S 784N92 'nd am (ery ha&&y for those of you that continued to as, "7hen is Dan )i(in) another seminar*" 7ithout your &erse(erance me returnin), to )i(e seminars at 9uthrie would not ha(e ha&&ened2 t is (ery )ratifyin) to hear from many of you thanin) me for comin) bac to the seminar &ul&it2 nterfacin) with seminar attendees )i(es me )reat satisfaction+ el&in) them build their own &ersonal model for success is e#tremely fulfillin)+ ha(e shared a number of e-mails with you o(er the years+ Sometimes ha(e to dra) them across the )oal line and sometimes all they need is a )entle sho(e+ 's hard as many seminar attendees belie(e am - often whilst readin) e-mails from you brin)s )oose bum&s, a lum& in my throat and a tear in my eye+ The short story that follows did all three2 am reminded of a student mentee who stuttered badly when he came to one of my seminars in the mid I1!s+ That same youn) man 3 years later won a
+ ow to structure &rofessional fees* + ow to set u& and conduct the first meetin)* Second* + ow to &roceed to re(iewin) financials* + ow to create deal flow* + ow to determine if the deal is hot* + ow to conduct due dili)ence* + ow to mae an offer* + ow to tie u& the deal* + ow to finance the deal* + ow to do the ne#t deal* + 8ole &lay usin) attendees own deals+ 8'SN9 C'PT'% + Dis&ellin) myths + 8ules of the 9ame - there aren!t any2 + ow the internet has made the &rocess easier and harder+ + 8ole &layin) + Forms of Finance + Fundamentals of finance + ow to locate successful financin)* + ow to inter(iew financial institutions* + .usiness Plans - Do!s and Don!ts + ow to create/&ro=ect the ri)ht &erce&tion* + ow to create an instant trac record* + ow to &resent to the financial institutions* + ow to always &osition to )o &ublic - e(en if you don!t* + ow to le(era)e bans a)ainst each other* + ow to choose between P4!s and Pri(ate Placements* + 7hen to use n(estment .ans, 5enture Ca&italists, broers, &ri(ate e>uity &ro(iders, and others* + ow to understand the (arious tools of finance* + uent liti)ation by &ositionin) yourself for it* + 'nalytical model for calculatin) debt re>uired + Most common financial follies + ow not to tae re=ection from baners, in(estors too seriously* + Financial misconce&tions To ;our $uantum %ea&, Dan P+S+ 8emember, "Dreams come true with %ow nterest 8ates2" P+P+S+ Some of the to&ics that ha(e been su))ested for further seminars areH + Doin) international business 3+ ow main) money in a down-maret differs from an u&-maret* G+ nter&retin) the strate)ic (ector J+ Trials and Tribulations of the 5enture Ca&ital worldH inter(iewin) 5C!s - do!s and don!ts 0+ ow to find deals* Settin) u& your model+ + 7hat deals are hot and what are not* + %iti)ation - the sword and the shield of a hi)h &erformer2 + $%' to build self esteem and self conce&t and o(ercomin) fear of failure: that which does not
ill me maes me stron)er I+ $%' - %eadershi& and moti(ation of others am re(iewin) all of these and a few others, but 3 or G of them certainly loo, feel and sound hotter than others+ 4f course as you will read a number of the to&ics su))ested are co(ered in the G-day castle e#&erience+ would be interested in further in&ut+
ISSUE #1 30th March 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er 9rien n S%0scri0er
$%' D654T66 / M6NT66 4N4<86D am &leased to announce one of our own $%' de(otees and my mentee was featured on th March by Forbes+ couldn!t be more &roud2 's ha(e written before, Michael Pierce has been throu)h a lot2 Please tae the time to read the article+ To many of you, it will sound (ery familiar2 www+forbes+com/reuters/newswire/311J/1G//rtrG133+htm 'N4T68 $%' C'ST%6 6QP686NC6 would lie to tae this o&&ortunity to tell you will )i(e another G day J ni)ht castle e#&erience in 0 - 'u)ust+ am sure it will be fully subscribed+ This seminar will combine $%' Methodolo)y, 8aisin) Ca&ital and Deal Main) and 'c>uisitions as the '&ril and ?une seminars+ t will also be at the reduced &rice of '&ril and ?une+ n addition ha(e taen some of the su))estions you sent me, includin) new blocs on leadershi&, sellin) your dream, o(ercomin) obstacles and the con(entional wisdom that will &la)ue you+ n addition Michael Pierce will be the in(ited $%' de(otee+ 's told the 8euters =ournalist, many now $%' Methodolo)y, but few are as totally committed and articulate it as well, as Michael+ e should be an ins&iration and e#tra bonus to the castle e#&erience+ e will say in his own words how he had to continue to sell and resell his dream and o(ercome many obstacles time after time2 now he will share how he felt, because ne(er )a(e u& on him, thou)h his success was a lon) time comin)+ 's ha(e said countless times, ne(er )i(e u& on anyone as lon) as they don!t )i(e u& on themsel(es2 For more information on the 'u)ust seminar contact Michelle at m+ellyY)uthriecastle+com+ The outline of the seminar is e#actly what is on my site for '&ril / ?une sli)htly condensed, but also includes the abo(e new blocs+ 's always each attendees deal / dream will be wored into the &ro)ramme, by submittin) detailed >uestionnaires before the e(ent+ 's before we will try and accommodate e#tended stays where &ossible+ There will still be time for those of you that &lay )olf, etc, since it is dayli)ht from Jam till &m and the seminar hours are Iam till &m, or until all >uestions are answered+ loo forward to seein) you in 'u)ust, or before2 To ;our $uantum %ea&, Dan P+S+ To answer whether will be )i(in) seminars in the
ISSUE #2 7ers$n 8eve$&ment 7r$rm Leers/i& Trinin Seminr
The Dan Pena Personal De(elo&ment Pro)ram and %eadershi& Trainin) Seminar was a )rand success+ 'll attendees had a )reat time and )oin) by some of the comments re)istered here the e#&erience was outstandin)+ n fact a number of re)istrations were already si)ned for the ne#t e(ent+ This newsletter )i(es an insi)ht into the (arious e#&eriences of &eo&le durin) this G-Day and J-Ni)ht Personal De(elo&ment Pro)ram and %eadershi& Trainin) Seminar+ The attendees ran)ed from the a)es 3 to and came from the
Thin)s !(e learnedH Do not share doubts - !(e been doin) that for a lon) time+ Dealin) with you Dan, someone (iew as one of the bi))est hard-asses on earth maes dealin) with anyone else @i+e+ baners and other business &eo&leA much easier+ can do it, can be an assassin - it!s not ma)ic+ .ill @si)ned u& for 'u)A The seminar, in my (iew, is about identifyin) and realisin) our &otential+ t has released me from my own shaclesUwhich now seems com&letely ob(ious+ Crystallisation of future "Plan of 'ction"UFreedom from a substantial amount of dross had carried, i+e+ "%ie the remo(al of a hea(y coat+" Certain &rece&ts ha(e been totally dis&elledUSelf esteem has certainly been boostedU ' reality chec would recommend - will definitely return+ - Martin can recommend anybody to (isit the seminar and see Dan in action+ 'n e#&erience for an eternity+ would come bac and do the seminar a)ain anytime+ - 8icardo %6TT68SU 's ha(e written countless times )et many letters and emails relatin) )reat e#&eriences+ new as soon as read it had to share this letter from ?ohn+ t is es&ecially remarable because he is 0I2 )et )reat )ratification when see &eo&le win a)ainst con(entional wisdom+ Please read it and feel his success2 Dear Dan, too your ad(ice after readin) your boo and decided to buy a business+ had little money to &lay with so went for "&erce&tion is reality" and too it from there+ did my homewor @(ery thorou)hlyA and disco(ered that the sellers lied a drin and a bet on the horses+ They were also dee& in debt+ My ind of &eo&le, if you see what mean2 Ne#t &aid the outstandin) ta# liens on the &ro&erty+ " Now let!s tal about buyin) your business+" 8aisin) the finance was not easy+ went from ban to ban and lender to lender until was finally acce&ted+ will always remember this doofus baner looin) o(er his horn-rimmed s&ectacles and tellin) me in all seriousness, "Do you realise that this loan is G o(er %.48*" Stu&id idiot2 am now the &roud owner of a lar)e, thri(in) )uesthouse+ Not bad for a 0I year old )uy with lousy credit ratin)s+ would also addH + t was not easy, se(eral times almost filed the whole sheban) under "ni)htmares ha(e a(oided" because it was an months lon), real-life ni)htmare+ 3+ t hel&s to ha(e a slush fund+ G+ t hel&s to ha(e )rim determination+ J+ t hel&s to be sli)htly cray+ 0+ My &eo&le no lon)er as me where am )oin) when see them don my shirt and tie+ They now am )oin) to the ban+ Thans Dan, would ne(er ha(e attem&ted anythin) lie this until met you+ Thans a million, and here!s to my first million+ ?ohn Dear ?ohn, Con)ratulations2 Bee& &ushin)2
To ;our $uantum %ea&, Dan $%' D654T66 / M6NT66 4N4<86D n my last email sent an incorrect address to the Forbes article on Michael Pierce!s success feature+ ere is the correct linH htt&H//www+forbes+com/reuters/newswire/311J/1G//rtrG133+html '<9uisitions will mae u& 3 days+ The third day will focus on leadershi&, sellin) your dream, sales trainin), o(ercomin) ob=ections and focused follow throu)h+ This is a )reat mi# of information and Michael Pierce will =oin us in 'u)ust2 To ;our $uantum %ea&, Dan P+S+ Financin) ;our DreamH To assist in cash flow mana)ement my team will allow Castle 6#&erience attendees to &ay for their tuition in instalments+ f you need more information contact Paul at &+morrisY)uthriecastle+com+ P+P+S+ 9oin) forward the followin) seminars will be )i(en at 9uthrie CastleH ?uneH G Day $%', 8aisin) Ca&ital, Deal Main) and 'c>uisitions @as scheduledA+ 'u)ustH G Day $%', 8aisin) Ca&ital, Deal Main) and 'c>uisitions, %eadershi&, Sales L Maretin)+ .'S6D 4N NT686ST 86C656D T6S6 '86 T6 P84P4S6D S<.?6CTS F48 T6 86ST 4F 311JH Day $%': Day %eadershi&, Sales, Maretin): Day 8aisin) Ca&ital Deals and the art of Close+ 3 Day Finance, Ca&ital, Deals and the 'rt of Close+ G Day $%', Finance, Ca&ital, Deals and the 'rt of Close+ P+P+P+S+ Details of 9uthrie Castle Seminars &lanned for 3110 will be &ublished later this year alon) with details of the increased &rice structure+
ISSUE #3 $in 8n is t/e serc/ f$r &ers$n s%ccess c$c/ n U+ ife c$c/
n continuin) the search for a &ersonal success coach and
Dan also brin)s out how bein) intense and de(oted maes a winner+ That was the stuff that the winner - an intense entre&reneur who successfully sold ci)ars on the nternet was made of+ The facts are a &ersonal success coach needs to also be a )ood leader and that was lacin) amon) the teams that were &artici&atin)+ t is always that the best man wins but bein) able to di)est someone else bein) the winner can be hard+ Dan tals in detail of a few &ersonalities who suit a &ersonal success coach role+ Trum& is one of them and he tals about how he handles stress+ 'nother &ersonality is Mar .urnett who &ioneered "8eality T5" and his stru))le to become one of 'merica!s &o&ular entertainer, a &ersonal success coach and of course a
"' 7S C'N96S N4TN92 ' D6CS4N C'N96S 6568;TN92" 4(er the 6aster brea s&ent a cou&le of wees in the uit a )reat =ob at 9oldman Sachs to &artici&ateA a)ainst a (ery intense entre&reneur who successfully sold ci)ars on the internet, with a de)ree in criminolo)y from the
Perha&s it was a =oe2 Trum& told the winner he had G minutes to decide on which massi(e &ro=ect he could choose from to mana)e the ne#t year+ No research2 No time to &onder the choices2 e said, "t was an easy choice2" 4(er the course of the last 3 e&isodes, the winner said business and life are tou)h and so am 2 4ne of the finalists &aid E301,111 cash to Trum& to wor for him for one year, @more about that later2A Trum& said, "She @a team member of the laid bac M.'A hurt him badly twice and he did nothin)+ 'nd to be successful you must be able to deal with bad - N472" 'nd Trum& didn!t lie the M.' not dealin) with it+ e said, "7hen decei(ed, don!t mo(e them aside - fire them now2" Trum& ased of the winner, "7hy are you sittin) with all of the &eo&le fired* Sit o(er here2 Don!t mae e#cuses [ =ust fired them2" Trum& - ";ou were too ha&&y when you lost2" he said to the final loser+ now real life!s not that theatrical, but the outcome is the same+ .ased on watchin) the show and decidin) to do seminars at 9uthrie a)ain after a lon) layoff, am now considerin) doin) a new mentee &ro)ramme+ ha(e had many since IIG offer to wor for me, with me for no &ay, or for only fees )enerated, or out of the start u& when it made money+ ha(e also had @lie on The '&&rentice ShowA youn), middle a)ed and old offer to &ay me to wor alon) with me+ will consider all o&tions in my new mentee &ro)ramme2 't the end of the show, all were "lo(ey do(ey" with hu)s and isses2 This is not my e#&erience+ The M.' said, "The best man won2" This wasn!t him2 's has been said many times before, ";ou show me a )ood loser and will show you a )ood loser2 ow can you be ha&&y for someone else to win and you lose*" Personally am su&rised Trum& would &ic an a&&rentice from two &eo&le who or)anised a )olf tournament and a charity &o& concert+ am sure maretin) had somethin) to do with it2 was not sur&rised to see in the final .oard 8oom scene of all finalists to see the 3 finalists )et their throats cut by their own teams+ was not sur&rised to hear Trum& say, "7hen am in the .oard 8oom am the .oss2" Trum&, when ased how he deals with stress answered, " say it doesn!t matter2 7hen see thousands die in ndia or where(er - and loo at me, now it doesn!t matter2" a(in) seen and en=oyed the &ro)ramme am more con(inced than e(er there is a need for more $%'+ 's am writin) this too a call from an in(estment baner from 9ene(a asin) after he read ";our First 11 Million" about the Castle 6#&erience in 'u)ust+ Peo&le continue to send me deals+ 7hilst read them won!t seriously consider them unless they are Castle 6#&erience )raduates+ My e#&erience shows me without the actual $%' bac)round e#&erience )ained at a seminar there is too much )a& between $%' nowled)e and worin) with me+ t also shows me there is a real commitment to their dream and if can )et on with them+ 'nd a)ain the deal that describe in my boo is no lon)er (alid+ Now loo at each &otential deal indi(idually+ There is no set model+ now do what feels correct to me at the time (is-Z-(is the &ro=ect+ To ;our $uantum %ea&, Dan P+S+ n the months to come will de(elo& other ways to s&read $%' Methodolo)y2 P+P+S+ Mar .urnett &ioneered "8eality T5"+ e now li(es in Malibu, California with the rich and famous of the entertainment world+ e is a .rit who went to the
ISSUE #) Grd May 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
t is with much re)ret that announce the &assin) of my mentor ?erry 4rmand+ e was one of a ind2 e was of a )eneration )one by+ am e#tremely )rateful for his )uidance and the friendshi& he )a(e me for more than 30 years+ e and his late wife were lie second &arents to me+ often said, sittin) in his lo(ely home on the ninth hole of .el 'ir Country Club, .el 'ir, California, "7hen )row u& want to be =ust lie you2" n later years he would say, whilst in my Californian home and at 9uthrie Castle, "7hen )row u& want to be =ust lie you2" e was always &ositi(e and su&&orti(e and ha(e taled about him on many occasions+ 7hen first started my $%' Seminars he attended almost e(eryone+ The first year there were about G1 of them all o(er the ft ")uest house," commented, "This is also &aid for alon) with their own &ri(ate country club which surrounded this com&ound+" e retorted bac, as he often did, "They must ha(e >uite a bit of &roduction" @&ronounced "&uurrductionn2"A - meanin) barrels a day of oil+ will miss him a lot, not that saw him that often in recent years - always new could call him+ 'nd as one of my senior mentees told me a cou&le of wees a)o, "Sometimes that!s all need2 - To now can call you 3J/2" My dear friend, ?erry 4rmand lea(es me, his wonderful family and the whole world a much richer and decent &lace than before he came to us in II+ e was born in 6lectra, Te#as and he landed on the beaches of Normandy in ?une IJJ+ e rose to lofty hei)hts in finance and commerce in the
ISSUE # $in 8n s /e %nrves t/e secrets $f &ers$n s%ccess c$c/ n U+ ife c$c/
6(er wondered what does a mentor lie Dan teach to become a &ersonal success coach or a successful
@before or afterA will be accommodated where &ossible+ loo forward to s&readin) $%' Methodolo)y in a new format and with new sub=ect matter 'S'P @'s Soon 's umanly PossibleA+ n fact if there is enou)h interest could )i(e the and 3 day seminars in ?uly, but most couldn!t rearran)e schedules so >uicly - could2 now feel com&elled to broach new $%' (istas2 ?erry 4rmand always thou)ht it was the best thin) did C4'C 4T68S 47 T4 D4 T2 am sure all attendees will find it e#tremely rewardin), as ha(e all in the &ast2 To ;our $uantum %ea&, Dan P+S+ 'NN4
ISSUE #. A revie t/e $ n &revie $f t/e f$rt/c$min eers/i& seminrs it/ inivi% eers/i& &r$rm
Many e(entful thin)s ha(e ha&&ened in Dan!s life e(er since the last newsletter and in this one he chals out a whole list of leadershi& seminars that are in the &i&eline+ 4(erall this newsletter outlines the old and u&comin) leadershi& seminars, website additions and the >uantum lea& ad(anta)e &roduct offer+ 6(ery %eadershi& &ro)ram has been a )reat success and there are many testimonials featured in this newsletter to =ustify it+ The %eadershi& seminar ee&s )ettin) e(en better and one of the attendees was Dan!s 3-year old son who has been taen on as a summer intern this year+ n the u&comin) Day Castle 6#&eriences these leadershi& seminars will tal about the additional blocs on leadershi& and sellin) dreams+ Sally all, the C64 of The 9uthrie 9rou& who will be &art of the 'u)ust leadershi& &ro)ram will deli(er &art of the leadershi& s&eech+ Further, this newsletter clearly outlines the costs, sub=ects and a(ailability for these leadershi& seminars+ 'lso included is the %eadershi& &ro)ram for each of these with schedules+ There is also a mention of the chan)es carried out in Dan!s website alon) with additions, site-ma& chan)es, new interacti(e bulletin board and audio inter(iews+ To see and e(aluate (isit htt&H//www+dan&ena+com/docs/&roducts+&h& on the new u&dated website+ 'lso included are how Dan in(ol(es himself in deals and loos at each deal indi(idually, thou)h all deals don!t need him as Chairman+ N67 S6MN'8S, 76.ST6 'DDT4NS 'ND $<'NT
The u&-comin) 'u)ust G Day Castle 6#&erience loos to be another outstandin) )rou& and will ha(e additional blocs on leadershi& and sellin) your dream+ For t he 'u)ust seminar, Sally all, the C64 of The 9uthrie 9rou& and lon) time mentee will =oin us+ This seminar still has an o&en s&ot due to a recent dro& out for &ersonal reasons+ D'; C'ST%6 S6MN'8S The main reason for the new Castle Seminars is sim&le: first and foremost chan)e is constant and not all interested &arties want all three to&ics and, or can tae the time necessary to attend the full G Day e(ent+ t is also ob(ious that the 01 reduction in cost of the &re(ious rates from 311 has allowed additional indi(iduals the o&&ortunity to attend+ 'nd in truth some dose of Dan is better than none2 The new dates and sub=ects for the new 4ne Day/4ne Ni)ht Seminars areH Se&t th and 3Jth H$%' / %eadershi& - N672 Se&t th and 30th H8aisin) Ca&ital [ N672 Se&t Ith and 3th H'c>uisitions / Deal Main) [ N672 'n outline of the seminars are listed on the my website @www+dan&ena+comA - Product and Seminar S&ecials+ 'll the seminars are new and ha(e been u&dated+ The schedulin) has been set u& se>uentially so that they can be taen as a )rou& &roducin) the G day, 3 day or day Castle 6#&erience+ The cost for all G 4ne Days as a G Day is \G,111, &lus 5'T: 3 Day \3,111 &lus 5'T and Day \,111 &lus 5'T+ For further details contact Paul Morris (iaH &+morrisY)uthriecastle+com+ 't the '&ril and ?une Seminars there were attendees that had &artici&ated in the former G Day and Day formats+ They all felt the shorter, condensed Power&oint, "3st Century" Seminar was much better+ Candidly it!s hard for me to tell, thou)h G days is infinitely easier on me and my staff+ The bottom line is we did tae on su))estions and chan)ed where a&&ro&riate+ N67 76.ST6 'DDT4NS n the s&irit of mo(in) farther in to the 3st Century my website has many chan)es and additions: site-ma&: new interacti(e bulletin board as of a few of days a)o: audio inter(iew of me by a maretin) )uru lie a lot: sound-bites lifted from all my &roduct to come shortly: new descri&tions and format of $%' &roducts+ 'lon) with the new &roduct descri&tions am offerin) a "I1 D'; 11" N4 $<6ST4NS 'SB6D, M4N6; .'CB 9<'8'NT66 for the first time on my &roduct and ' SP6C'% 4FF68 4N '%% $%' P84Duestion - yes still )et in(ol(ed in deals, but loo at each deal indi(idually+ 'll deals don!t need me as Chairman, but most deals would benefit from my in&ut2 To ;our $uantum %ea&, Dan P+S+ Some comments from the ?une Castle 6#&erienceH am ecstatic to ha(e shared in the Castle 6#&erience+ Today is the first day of the rest of my life2
?. - South Carolina,
ISSUE #4 33nd Se&tember 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
's watched the tribute to the &eo&le who died on I//311 felt for all that suffered and are still sufferin)+ n no way am main) li)ht of what ha&&ened in this newsletter+ still choe u& when see the ta&es of that fateful day+ still remember (ery (i(idly watchin) CNN from %ondon with the sound muted, thinin) was watchin) a mo(ie about some &sycho who was blowin) u& N;C+ 's life is stran)er than fiction, was correct+ Today the only way sufferin) can chan)e is for &eo&le to tae &ositi(e actions+ 7orld wide there is sufferin)+ 7e see star(ation all o(er the )lobe and most &eo&le star(in) can!t tae the actions to re(erse the cycle+ 5is-Z-(is these tra)edies the only way any )ood is done is for others to tae &ositi(e action+ 'nd for the rest of us without our own &ositi(e action we can!t hel& oursel(es+ Since be)an my coachin) career in IIG ha(e said, "Most &eo&le lead >uite li(es of
des&eration+" 7e continue to do the same thin) o(er and o(er a)ain and are e#&ectin) different results+ ;ou ;ou now this is merely my definition for insanity+ insanity+ Most &eo&le in life would lie to be somewhere else, doin) somethin) else, but they become disillusioned and e(entually submit to the norm and con(entional wisdom+ For the most &art we co&y our &arents and the norms of where we )rew u&+ t!s tou)h to brea that cycle - ?ust as it!s tou)h to brea the cycle of &o(erty and star(ation+ N4T MP4SS.%6 MP4SS.%6 8eflectin) on my self, remember bac to I when redefined my own life+ then, lie many of you, was sufferin), but didn!t now from what+ 4f course now now wanted to "be all could be+" 8oss Perot! Perot!ss mentor ?oe .atton .atton coined the &hrase &hrase for the uestionable whether whether he is as bri)ht as he thins thins he is, but is certainly certainly anybody!s intellectual match because new he is a match for me2 e has become su&er successful and taes life (ery seriously with little time for himself+ may be the onl y &erson on earth that can )et him to brea out of his mould other than his wife and ids+ o&efully he will ha(e more time to be not so structured+ structured+ will continue to su))est he taes taes more time for for himself+ mention mention this by &roduct of success success @no real real time for yourselfA yourselfA to illustrate there there are other challen)es and and constraints when you are su&er successful2 successful2 Now bac to my wei)ht - the bottom line, l ine, had to diet a few days after our e#tended meetin), but wouldn!t ha(e traded the e#&erience and friendshi&+ There are some thin)s all of us aren!t (ery disci&lined about2 'nd 'nd that is a )ood thin)2 Suiet durin) most of the seminar+ 4nly at the end of the third day did he become more (ocal+ e had built built u& a (ery successful successful business business only to ha(e ha(e it ri&&ed from his his hands+ 'nd 'nd to add insult to )reat in=ury the )o(ernment re)ulatory authorities sla&&ed him with massi(e fines and sanctions+ is life was nearly destroyed+ 7hat little money he had left he s&ent fi)htin) the )o(ernment to e#onerate himself+ 's im&ortant as this &rocess was to heel himself what he does ne#t is the most im&ortant ste& in the rest of his life2 e was merely one of those li(in) a life of >uiet des&eration till he decided to tae action+ 7hilst he had achie(ed success it was taen from him+ 's successful as he had been he came to the realiation he had to do somethin) different if he wanted different results and taste success a)ain - e(en )reater success2 7hat he had accom&lished meant little )oin) forward, other than to himself+ am &roud to say will be &art of his future2 e has decided, in a ma=or way, to brea out of his recent des&eration which means there will be ma=or chan)es in his life+ 76 Muestions about ";our ";our First undred Million" - do you ha(e a minute to tal to him*" too the &hone and s&ent s&ent time answerin) answerin) >uestions+ @n hindsi)ht wish had ta&ed it2A .ecause .ecause he was was an in(estment &rofessional, &rofessional, am sure he was wonderin) if the material was beneath his intellectual le(el+ This ha&&ens >uite often+ 's told him, and countless others, no matter what his le(el of financial acumen he would be satisfied+ ' few hours later he called bac and ordered ;FM+ Shortly after com&letin) the boo he &urchased all $%' &roduct listed on my site+ ' few wees
later he re)istered for the 'u)ust Seminar and has re>uested a &lace for a seminar in early 3110+ 7hen he came for the e(ent he was one of the most &re&ared indi(iduals who e(er attended a Castle 6(ent+ 's he says @see his testimonialA the e(ent was a life chan)in) e#&erience2 mention all this th is because as well &re&ared as he was, i+e+ successful entre&reneur, entre&reneur, financial bac)round: sales sales bac)round bac)round @ for)ot for)ot to mentionA: well educated: educated: and ha(in) ha(in) immersed himself himself in $%' before arri(in) - he still found it an e#traordinary e#&erience2 e says now, " ha(e been looin) for this ind of coachin) )uidance and a framewor to &ut to use for o(er 1 years+" e is in his mid G1s and &lans to s&end the rest of his life usin) what he has learned and continues to learn+ $%', lie life, is a wor in &ro)ress2 &ro)ress2 will ee& you a&&raised2 - ha(e ne(er done this before, but for those who are on the fence about $%', the Castle 6#&erience or tain) a $uantum %ea&, can &ut you in touch with indi(iduals lie the one described abo(e by contactin) ste(enY)uthriecastle+com ste(enY)uthriecastle+com 7hilst u&datin) for the recent 'u)ust e(ent thou)ht about what ha(e done as a coach for many years+ Since restarted my coachin) career earlier this year, ha(e refined how to articulate the $%' Methodolo)y Methodolo)y better than e(er did+ The 3` year layoff from seminars hel&ed me crystallie my thou)hts about im&ro(in) $%'2 now now one ma=or tas for me isH To )et you @the reader or attendeeA to do what you don!t want or lie to do, so you can ha(e what you do really want2 ha(e always nown there was a real dichotomy between what we are willin) to do, and not do, to )et what we want in life+ There is no easy answer, because because all of us ha(e a different different "comfort one" in relation to your "&ay &rice to action+" %ast month saw my Grd Castle 6#&erience com&leted this year+ The new bloc on %eadershi& and 4(ercomin) obstacles went (ery well+ 's ha(e said countless times, "%eadershi& sills are e#traordinarily im&ortant to success in business and life+" @?ust thin if your leadershi& sill were better with your ids ids or s&ouse2A s&ouse2A 's the attached comments indicate the (ery di(erse di(erse )rou& had an awesome e#&erience+ The )rou& included indi(iduals that came from the ue e#&erience with you, Dan+ ;ou )et strai)ht to the &oint - as strai)ht strai)ht as it comes+" T'N C @6n)landA 4ur 4ctober Castle 6#&erience loos to be =ust as interestin)+ .ased on the success of the other Castle 6(ents in 311J ha(e decided to )i(e seminars in 3110, be)innin) with Feb th - 1th+ ')ain the seminars will be limited to 3 and follow the same format as 'u)ustH $%', 8aisin) Ca&ital, Deal Main) and 'c>uisitions, 'c>uisitions, and %eadershi&+ 4f course all the attendee!s attendee!s deals will be co(ered and all >uestions answered+ The seminar content is described on my websiteH www+dan&ena+com/docs/ne#tSeminar+htm+
86C6NT $%' .uestion why do they continue to &ay others* Part of the answer is sim&le - con(entional wisdom is hard to brea away2 D'N!S 6PP'N; 'lmost lie an e&i&hany whilst attendin) a series of meetin)s on another recent tri& it became clear to me, words that were uttered to me a cou&le of years a)o, ";ou don!t now what you don!t now" resonated in my brain o(er and o(er a)ain2 was sittin) in an in(estment ban board room at Jam, a C64 after bein) scolded by me said, "Dan, you don!t now what you don!t now2" @This same C64 had led his com&any throu)h se(eral rounds of fund raisin) and a (ery successful P4 @main) him wealthyA and the com&any had been (oted "Mid Maret Com&any of the ;ear" in the uestions and didn!t a&&ear to ha(e been able to &rioritise what was really im&ortant+ For e#am&le, thou)ht it would be standard &ractice and matter of fact that you would attem&t to be careful whilst dealin) with )o(ernment re)ulatory authorities+ 4ne would thin that anythin) that could close your business com&letely would )et your attention - e(en if you weren!t e#&erienced+ was wron)2 4f course they were bri)ht enou)h and too some action+ They came to the Castle and ased me to (isit them to consider bein) their Chairman+ @4r &erha&s &erha&s it was merely their sur(i(al instinct K either way they are not dead and also bac on the road of success2A+ n similar circumstances many aren!t aren!t this smart2 Many M any will &erish without )i(in) themsel(es a real o&&ortunity to mae their own $uantum %ea&2 Too bad2 't the 'u)ust Castle 6#&erience one of the attendees who came from 'ustralia, said, "Dan, you are really )i(in) bac by )i(in) seminars a)ain for a lot less money than you char)ed in the &ast*" hadn!t really thou)ht about it in that way+ way+ 7hen came bac it merely seemed lie the ri)ht thin) to do+ 'nd don!t want to )i(e myself too much credit or blow smoe u& my arse2 t!s an interestin) thou)ht, but the bottom line is am continuin) my coachin) career and en=oyin) en=oyin) it more than thou)ht would+ 'nd ne(er for)et your coach, mentor or teacher is only as )ood as the information and feed bac you )i(e them2 .ad, or incom&lete information will only )et you bad out&ut+ 9arba)e in - )arba)e out as they used to say in the !1s+ ha(e sat in countless meetin)s nowin) would ha(e done thin)s differently+ differently+ ha(e sat with (ery Senior 6#ecuti(es )i(in) ad(ice they &erha&s hadn!t thou)ht of or &erha&s didn!t thin im&ortant+ So it!s uni(ersal - you don!t now what you don!t now2 So how do you now what you don!t now* ;ou mae a million mistaes - or find someone that nows2 f you don!t ha(e a mentor / coach - =ust )et one2 S6N48 5s ?
doesn!t+ The senior )uy may merely be arro)ant or too busy and decide not to as, e(en if he doesn!t now+ 'n ine#&erienced &erson @senior or =uniorA, thou)h he may also be arro)ant, usually doesn!t as what he doesn!t now because he =ust doesn!t now, and, or may be tryin) not to act stu&id+ S&eain) of stu&id, how many times ha(e you heard, " now this is a stu&id >uestion*" 4r, " now must be slow, butU" or "My &artner / s&ouse is the real smart oneU" Don!t do this2 Nothin) )ood comes from alludin) to slowness or stu&idity2 don!t remember sayin) anythin) lie this my entire life - Perha&s when was a little boy+ 8emember your self esteem is &retty much in line by the time you are se(en or ei)ht+ 8ecently ha(e had a (ery senior cor&orate e#ecuti(e mentee ha(e one of his life ti me )oals come to fruition+ ha(e wored with him for se(eral years+ e called me and immediately be)an with my assistance for the ne#t &hase of his life and new )oals and as&irations+ also had a youn) mentee fulfil one of his lon) term )oals+ Subse>uently didn!t hear from him about his business for sometime+ heard from him about chan)es in his life @cars, houses etcA when bum&ed in to him, but (irtually nothin) about the business+ Thou)h was e#tremely &roud of both, saw the undoin) of one on the horion+ The youn)er success story lost focus and for)ot how he achie(ed his )oal+ Thou)h both were )rateful, the older mentee was mature enou)h to now what hel&ed him )et to fulfil his lon) term )oal and continued what wored2 e also understood it is harder to stay on the ta&e than it is to )et to the to&2 's a mentor @and minority shareholder in many casesA you can!t force &eo&le to do thin)s they don!t want to do e(en thou)h that!s my remit+ Therefore it!s my tas to somehow &ut the difficult choice on their road to success =ust outside their comfort one, causin) them to stretch+ t is e#tremely easy to for)et how you )ot to where you are, when you!(e achie(ed success and you ha(e accom&lished )oals, es&ecially monetary ones2 4(er my lon) career ha(e assisted, hel&ed, coached and mentored many to achie(e their )oals+ ha(e witnessed many successes for others in my life+ ha(e seen the sacrifices re>uired for success at all le(els of &ersonal &ursuit+ 'nd it!s ne(er easy2 n fact the only thin) that!s easy is to for)et who and what )ot you there2 Some say this is now Ti)er 7ood!s &roblem+ Since he has saced his lon) term mentor / coach in 3113 he hasn!t won a ma=or and has been stru))lin)2 t!s stran)e but hear throu)h (arious sources different reasons why he dro&&ed his mentor / coach, but they all re(ol(e around - the coach made too much money2 'nother ob(ious difference from bein) youn) and older, and @seemin)lyA mature, is not really understandin) 8SB+ 7hen we are youn) and successful we are either obli(ious to the elements to measure risH cause: effect: and im&act+ @ will write more about this in my ne#t newsletterA+ 4r how will this act ultimately affect me and my business* The other side of this coin - when your youn) you don!t now or understand the wall of China can!t be built - so you &roceed to build it2 t!s a fine balance2 Mature sa)e ad(ice cou&led with youth can mae a formidable team2 8emember the only &lace success comes before wor is in the dictionary2 To ;our $uantum %ea& Daniel S Peña Sr+ P+S+ n recent months ha(e u&dated my website and will continue to do so for some time+ ha(e tried to sim&lify my $%' messa)e+ ha(e stated my
ha(e installed a new interacti(e messa)e board @which =ust went downA and audio inter(iews+ More audio and (isual aids will come shortly+ To answer many >uestions, thou)h would lie to trac who uses the messa)e board, etc, you don!t need to answer all the >uestions to lo) on+ ?ust lo) on and )et in(ol(ed - tae action2 More neat stuff will follow soon2 P+P+S+ ' reminder to all+ These Peña - isms are listed on my websiteH + Don!t waste time on thin)s you can!t chan)e2 3+ Tou)h times don!t last [ tou)h &eo&le do2 G+ The best way to &redict the future is to create it yourself2 J+ Dream .i), Thin .i), .e .i)2 0+ Man Plans - 9od %au)hs2 + Don!t under any circumstances, e(er, second )uess yourself+ + 6(en when one thou)htfully and =udiciously &lans, more often than not, such &lans are o(ercome by e#ternal e(ents+ Therefore, ne(er underestimate how wron) you can be2 + 'ny &roblem sol(ed will be re&laced immediately by a lar)er more com&licated one2 I+ Don!t focus on mistaes: focus on the &ositi(e "ne#t time"2 1+ Pro)ress often mas>uerades as trouble+ + The more you in(esti)ate, the less you ha(e to in(est+ 3+ Cash only &rolon)s death, it doesn!t a(oid it+ G+ !(e ne(er seen a "&art-time" su&er successful, hi)h &erformance &erson+ J+ ' deal has to sound )ood before it is )ood+ 0+ un)er maes beasts of men, and demons of beasts+ + f you want thin)s to chan)e, first you ha(e to chan)e+ + The only difference between a Cham& and a Chum& is "<"+ + $uantum %ea& success means fishin) with nets, not =ust with lines+ I+ Con(entional wisdom is almost always wron)+ 31+ ' deal is either hot - or it!s not+
ISSUE #> The 4ctober Seminar was another )reat success and it reinforces @not that need itA am doin) the ri)ht thin) for $%' and you by continuin) to )i(e li(e seminars+ n fact the four G day / J ni)ht Castle 6#&eriences this year ha(e &roduced a number of e#cellent business o&&ortunities and ideas about &romotin) $%' and will now share what some of the results areH New Day $%' Castle 6(ent Due to &o&ular re>uest am reinstatin) the day / ni)ht ori)inal Castle 6#tra(a)ana+ t will be u& dated to the 3st Century [ but as they say, t will brin) bac the fire and brimstone became famous @or infamousA for whilst )i(in) seminars from IIG to 3111 and is only &artially e#hibited in all my &roduct+ To refresh $%' de(otees memories this seminar &roduced the lies of .eryl Crum&, Deann and 9eor)e 5erdier, .ruce 7hi&&le, .odo Schaeffer, Michael Pierce, %ucinda .ure, Casey Ste&henson, Fran Slan)en, 7innee %iefbroer, 6rrol Maynard, Tony 7ard, Colin Cha&man and countless others+ See P+S+ for seminar outline+ These classic e(ents ended in 3111 costin) u& to E3,111 &er &erson @or o(er \0,111 in today!s currencyA+ This last 4ctober )rou& for the Castle 6#&erience &leaded a (ery con(incin) case that should )i(e them a)ain+ had many other re>uests o(er the last cou&le of years, but wasn!t )i(in) seminars at the time+ 4nly one is &lanned for ne#t year 3110, at a reduced cost of \,111, &lus 5'T, which is about 01 of the old rate2 t will run from 3Jth [ G1th '&ril+ ' few &laces ha(e already been reser(ed by the 4ctober attendees, &endin) this announcement, but now it!s o&en to all2 F866 included in the cost will be a set of the audio ta&es @yet to be &riced indi(iduallyA, which will be recorded li(e and the Power&oint &resentation and all my current $%' &roducts @a \,011 (alueA+ n
addition all wee lon) attendees will be able to =oin in three F866 tele [ conferences G1, 1 and I1 days after the seminar ends+ This will allow all attendees a &latform to (oice and hear successes and any &roblem areas they ha(e encountered since the seminar ended2 'nd if that wasn!t enou)h incenti(e all attendees will )et the o&&ortunity to =oin the N67 Mentor Pro)ramme @described later in this letterA at a reduced cost for a year+ 7hy am offerin) all these e#tra benefits* 7ell since came bac to coachin) am determined to not only s&read the $%' methodolo)y to as many as can, but also increase the &robability of success to all who attend+ mmersion in the &roduct allows another Dose of Dan when e(er necessary+ The seminar format will be the same as the shorter (ersion with a welcome rece&tion, a cou&le of ni)hts out on your own and a )raduation blac tie )ala dinner+ 'ttendees will be limited to 3+ For those that attended those )reat wee lon) e(ents you remember, thou)h (ery intensi(e, how much fun as a )rou& you had, whilst was &oundin) on $%' &rece&ts2 Many recent and former attendees ha(e re>uested the old wee lon) format which had a more time to en=oy the Castle ambiance more fullyH recreation )ame room, s&a, )ym and )olf @by late '&ril the sun will be out laterA+ ' wee )i(es you more time to interface with your fellow attendees and )et throu)h all the (arious nuances of $%' methodolo)y in )reater detail to understand how they affect ;4<+ 'll attendees will ha(e what was called s&ecial time with me to discuss your s&ecific situation &ri(ately+ 's you can tell by the descri&tion it will be a (ery s&ecial e#&erience2 'nd now it will ha&&en a)ain in late '&ril 3110+ am really looin) forward to it+ 'nother uni>ue idea has been &ut forth by an 6n)lishman attendin) the 4ctober e(ent+ e thou)ht since the s&ace is limited the seminar s&aces should be auctioned+ 7hilst lie that idea am )oin) to allow the first ten s&ots sold at \,111, &lus 5'T, on a first come first ser(e basis, startin) now+ The last two seats will be auctioned as a test+ Since e#&ect the auctioned seats to fetch a bi) &remium don!t want this to be &urely an e#ercise to illustrate who has the dee&est &ocets+ .ut what it will show is the true (alue of the wee lon) $%' Castle 6#&erience and the sa(in)s the early action taers will )et2 8emember $%' is based on tain) actions now2 For those that cost isn!t a factor wait for the auction2 will )i(e a &ortion of the auction &roceeds to charity+ This wee lon) e#tra(a)ana is dedicated to the $%' de(otee who is a true &urist and nows what an e(ent with the e#&osure to me really can do in your $%' life cycle2 More Seminar News For those who re>uire a re)ular Dose of Dan, as my website states the first 3110 three day four ni)ht Castle 6#&erience will tae &lace th [ 1th February+ t will follow the same format and outline shown on my site which followed in 'u)ust and 4ctober+ The 3110 costs will remain at \G,111, &lus 5'T, till December 0th, 311J+ @8ather than &ush till G December and try and )et stuff done throu)h Christmas &iced a date &rior to the hea(y holiday season+A 'fter that final date the 3110 costs will increase to \J,111 &lus 5'T+ ')ain am &romotin) tain) action which is one of the most im&ortant $%' &rece&ts2 Castle 9rads of all G day castle &ro)rammes, no matter when attended, will continue to en=oy the \G,111 cost+ ;es Castle 9rads )et s&ecial dis&ensation: they will )et an on)oin) discount2 n addition the February Castle attendees will )et one F866 tele [ conference G1 days after the seminar ends with their fellow attendees, the Power&oint &resentation and a lower discount on a yearly membershi& to the New Mentor Pro)ramme discussed below+ 's re)ular readers will attest to my &re(ious 0 newsletters, datin) bac to IIG, ha(e ne(er been totally maretin) information orientated [ this is a first2 So let me )i(e you some additional newsH n a recent s&eech said, had ne(er been in four businessesH se# @le)alA, dru)s @le)alA, M%M and franchisin)+ 's of 4ct st assumed Chairmanshi& of the fastest )rowin) ***** business in the
&artner+ Mentor Pro)ramme 'nother 4ctober attendee @and he wasn!t the firstA had another )reat idea2 @Thou)h characteristically alluded to their fatherless u&brin)in) they were a &retty bri)ht )rou& with a lot of interestin) thou)hts2A e su))ested a Mentorin) Pro)ramme [ where am not directly affiliated with their com&any as Chairman where wor re)ularly with mentees and their staffs+ This &ro)ramme would include, amon)st other thin)s, access to me (ia &hone, email, and teleconferencin) on a re)ular basis+ t has already started+ Since it is a new endea(our, will assess how many can tae into the &ro)ramme in the short term+ Costs of the Mentor Pro)ramme will be &ublished shortly on my web site+ 4r if you are interested and ha(e >uestions now contact Paul atH &+morrisY)uthriecastle+com+ n con=unction with this idea ha(e initiated a messa)e lin on each &a)e of my site, www+dan&ena+com+ The &re(ious interacti(e messa)e board &ro(ed too difficult and, or bothersome for most of the indi(iduals who fre>uent my site+ 4n each &a)e on the ri)ht hand side you will see the interacti(e lin [ %56 C'T+ For those of you that did use the interacti(e board, a&olo)ie for shuttin) it down, but only a fraction of you actually si)ned on and used it+ Soon the new bulletin board messa)e centre will be online+ n the meantime you can )et your >uestions answered directly+ am also re(iewin) sendin) a lin to my news letter subscribers, rather than the news letter itself in the future+ will ee& you a&&rised+ That!s it for now+ ;ou ha(e a decision to mae2 Tae action or not2 .ut as always the &erson who taes action has the hi)hest &robability of achie(in) your dreams now as o&&osed to later2 7e are comin) to a new year+ Start it with a $uantum %ea&2 To ;our $uantum %ea& Daniel S Peña Sr+ P+S+ Se(en Day Seminar 4utline [ Ste&s to Su&er SuccessH + Creatin) your Personal FoundationH 9et comfortable Passion .eyond Common Sense New 8ules Focus on 6nds not Means 3+ Clarify your 5ision G+ .uildin) the Perce&tion J+ Creatin) ;our Dream Team 0+ ;our $uantum %ea& 'ction PlanH 9rowth 7orin) Ca&ital @8aisin) Ca&italA Financin) [ nternal 9rowth @8aisin) Ca&italA 'c>uisitions [ 6#ternal 9rowth @Deals and 'c>uisitionsA + Pay ;ourself @Directors, em&loyeesA first + Creatin) ;our 6#it Strate)y @Sellin) or 9oin) PublicA
P+P+S ')ain offer those who need a bit more information the o&&ortunity to s&ea and, or email &ast Castle attendees to hear it from the horses mouth the benefits of the Castle 6#&erience2
ISSUE #5 Ith No(ember 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
t!s been a hell of a month for me - and it!s not o(er+ n two wees tra(elled from 9uthrie to .irmin)ham, @'labama not 6n)landA, %ondon, Dubai, New Deli, Sydney, Sin)a&ore, %ondon and bac to 9uthrie+ Some of you may thin it was a holiday, but it wasn!t @in fact it )ot interestin) when we had to a(oid Northern ra> airs&ace on the fli)ht from %ondon to Dubai+A t was all business e#ce&t for a few worouts in the )ym2 'nd before the month is o(er will )o to .irmin)ham @6n)land this timeA, 'msterdam, Munich, 9uthrie, %ondon and bac a)ain+ Some of you may wonder why still can or want to tra(el so much+ The answer is sim&le+ still lo(e what do - and am en=oyin) coachin) and mentorin) far and wide more than did when started+ 4n my country entry tra(el documents list myself as Chairman, because that!s what am in most of the business deals am in(ol(ed in+ This recent tri& was dedicated to new &rotW)Ws and mentees+ 4f course not all of my mentees re>uire me to tra(el so e#tensi(ely and of course am not Chairman of all entities mentor and coach+ Most of my mentee/mentor wor is done on a continuin) basis on the &hone, email and )rou& conference calls and in &erson+ n fact =ust )ot off the &hone with a )rou& of 30 business consultants from around the world that want to increase their effecti(eness+ s&ent about an hour discussin) "&ositionin)" yourself for success+ ha(e another call later today with a )rou& of as&irin) &ro&erty ma)nets from the uent www+dan&ena+com will see the new user friendly messa)e board is finally u&, alon) with sound bites of the $%' &roduct+ @Peo&le wal in to my office and hear me listenin) to myself from time to time+ 'fter all these years still mar(el at some of the stuff say2 f you ha(en!t heard them, tae a minute for a short Dose of DanA+ n addition www+>lablo)+com was recently launched with one of my mentees, eio Faass+ e currently runs our 9erman and N;C &ractice for The 9uthrie 9rou&+ 4ther neat stuff will follow on my site+ 4&&ortunities 'broad 7hilst was tra(ellin) half way around the world and bac was struc by the immense business o&&ortunities that were a(ailable whether you were in .irmin)ham, 'la, or Sydney, 'ustralia+ Focused &eo&le with real commitment can find o&&ortunities anywhere+ 't the same time also noticed whilst sittin) in a number of air&orts most &eo&le read no(els+ ased myself why* n New Deli saw the three &eo&le sittin) around me all readin) different boos, by the same author+ Thou)h saw a few &eo&le worin) on la& to&s and shufflin) &a&ers only saw one &erson readin) a boo on business - me2 The same is true of ma)aines and news &a&ers+ saw a cou&le of &eo&le readin) the 6conomist, and saw many more readin) the Financial Times+ Thou)h feel it!s not a )ood benchmar for financial readin) anymore because so many read it as a re)ular news&a&er now2 thou)ht to myself, &erha&s e(erybody is on holiday and wants to rela#, etc+ then thou)ht more realistically most &eo&le were &robably =ust doin) what they do most of the time and that!s esca&e from the realities of their li(es+ ha(e said countless times, "Most &eo&le li(e >uiet li(es of
des&eration+" This may sound a harsh o&inion2 Perha&s, but ne(er understood since most &eo&le aren!t ha&&y with their financial &osition in life why don!t they do somethin) about it* Peo&le that tra(el ha(e many hours on &lanes and in air&orts+ 7hat a &erfect &lace to tae on new or re&licate old information to assist yourself in attainin) your )oals and enhancin) your &osition down the road to success+ n the (ain of what &eo&le read and don!t read, ha(e attached @see P+P+S+A a readin) list of boos lie, alon) with ma)aines and news &a&ers read+ ha(e been ased for this list many times+ t!s by no means com&rehensi(e, but it does reflect what ha(e read and lied (is-Z-(is business and success, since started coachin) in IIG+ 4f course some of the authors lie, Peter Drucer, started readin) in the mid !1s+ There were countless boos recommended to me, ne(er &iced u& or only read a few cha&ters or e(en &a)es+ .efore tae the time to read somethin) seriously consider the source+ 'nd would recommend a similar &rocedure for yoursel(es2 %ie seminars most boos on self hel& and business and success are cra&2 They are cra& because (irtually all of them tell you it!s easy to be successful and are written by authors that ha(e not achie(ed any success themsel(es2 7ell you now the rest+ ?ust read "The .i) %ie" on my site+ nterestin)ly =ust read Charles aanel!s, The Master Bey System+ 4ddly enou)h thou)h a number of &eo&le ha(e said, should read it and a few ha(e e(en )i(en me co&ies only =ust did so+ aanel was res&onsible for much of Na&oleon ill!s @Thin and 9row 8ichA ideas+ 'nd ill e(en said so+ Thou)h a)ree with what aanel said, found the boo hard readin) in the be)innin)+ t!s written in the way of the early &art of the 31th+ .ut can say there are $%' &rece&ts &a)e after &a)e and would recommend it2 4ne of it!s basic &rece&ts is you are what you thin+ 4b(iously a much easier read is ";our First undred Million+" Mentor &ro)ramme u&date ' number of you ha(e written to re>uest more info and try to better understand the new &ro)ramme+ The new &a)e on the web site should be done shortly+ t will include amon)st other thin)s statements from current mentees: detailed yearly &ro)rammes and a)endas: includin) s&ecial mentee meetin)s and forums at 9uthrie and elsewhere and )uidelines for indi(idual action &lans+ n the mean time here is some of the wor in &ro)ressH + .efore we e(en start, first and foremost, do you >ualify* 're you serious and committed* Can and will you &ay the &rice for action* This &ro)ramme is restricted to the few not the many2 3+ The (ery first thin) will as what the mentees wants* 7hat e#actly would you lie to see in th e &ro)ram* 6ach &ro)ramme will be a one-off and desi)ned for the indi(idual+ G+ n terms of su&&ort will &ro(ide re&etition of $%' methodolo)y throu)h conference calls once a month, twice a month, or whene(er necessary de&endin) on the indi(idual+ will answer your >uestions and &ro(ide real world solutions to your day to day &roblems+ ;ou will send in the >uestions they ha(e before each conference call+ J+ ;ou will )et more su&&ort by recei(in) the ultimate $%' &aca)e, includin) all &roduct, @a \,011 (alueA so you can ha(e additional doses of Dan when needed+ 0+ ;ou will ha(e email and fa# access to me+ + ;ou will ha(e access to su&erstar mentees and &rotW)Ws on conference calls and to answer other &ersonal >uestions+ This has been e#tremely beneficial to the new mentees+ + ;ou will ha(e access to other &rofessionals, baners, lawyers, and accountants on the calls to share their &ers&ecti(es of $%'+ + ;ou will recei(e a ste&-by-ste& indi(idual action &lan+ ;ou!ll be )i(en indi(idual homewor after each call - stuff they must do and be held accountable for+
This is what the mentees are currently en)a)ed in, thou)h each &ro)ramme is different+ ho&e this clarifies what we are currently doin) and what you can e#&ect+ The mentor &ro)ramme &a)e will be u& shortly+ For more information contact PaulYdan&ena+com To ;our $uantum %ea&, Daniel S Peña Sr P+S+ Oen .uddhist Te#tH "The Master in the art of li(in) maes little distinction between his wor and his &lay, his labor and his leisure, his mind and his body, his education and his recreation, his lo(e and his reli)ion+ e hardly nows which is which+ e sim&ly &ursues his (ision of e#cellence in whate(er he does, lea(in) others to decide whether he is worin) or &layin)+ To him he is always doin) both+" ;ou ha(e often heard me say &lay and wor are no different to the hi)h &erformance &erson2 P+P+S+ 8ecommended 8eadin) %istH BOOKS:
TITLE
AUTHOR
Your First 100 Million Pe�a Buil Your O!n Pe�a "ut#rie T#e Master Ke' )#arles Haanel S'ste( I+( ,'s-un.tional/ Ka(iner You+re ,'s-un.tional $eiros in t#e 2o#n Put3ier $orla.e Trou%les#ooter 2o#n Har4e' 2ones Returns Be M' "uest )onra Hilton T#e Ma5 Strate&' ,ale ,au&#ton Looin& Out For 61 Ro%er 2 Rin&er *eanta In A.tion S!a(i )#in(anana T#e $iso( oLan.e Kure Ale5aner T#e "reat Tou&# Mine 2oe , Batten Leaers#i M' Li-e an t#e Ross Perot Prin.ials -or Su..ess T#e Pri.e o Arnol M Lu!i& "reatness T#in an "ro! Ri.# Hill 7aoleon Hill+s Ke's to Su..ess T#e $arren Bu--et $a' E(otional Intelli&en.e T#e Art o- $ar
PUBLISHER Meina "reat $estern Pu%lis#in& *arious *inta&e Boos FT Prenti.e Hall Pen&uin Hilton Morro! Fa!.ett )rest Manana( A(eri.an Mana&e(ent Ass A(a.o( Su((it "uil-or
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Ot#er aut#ors I lie in &eneral "ar' Ha(el/ Bill "ates/ 2a. $els#/ Ri.#ar Branson/ ,onal Tru(/ Mi.#ael ,ell M A"A;I7ES: T#e Ro%% Reort For%es Fortune E.ono(ist Har4ar Business Re4ie! Fast )o(an' 7E$SPAPERS: Finan.ial Ti(es $all Street 2ournal 7e! Yor Ti(es
ISSUE #.* NE,S 9LASH!
'll (ideo and audio $%' &roduct now on D5D / CD+ New $%' n(estment Newsletter Time Mana)ement - %aser .eam FocusH dos and don!ts $%' Product - oliday Sale 's &art of my new re)imen (is-Z-(is further de(elo&in) my coachin) will be writin) more fre>uent newsletters and addin) more ty&es of letters+ The sub=ect of this letter will be time mana)ement and focus+ 4r more s&ecifically laser beam focus or the lac there of+ .ut before launchin) into the main area of focus @&un intendedA, let me address a few im&ortant new issues+ n(estment Newsletter 's su))ested by de(otees of $%' will launch a new letter ?an of ne#t year concernin) where to &ut your hard earned &ennies2 ha(e called the last G out of J ma=or turns in the broad stoc maret @the recent tradin) ban missedA, recommended )old in the mid to hi)h E311!s, su))ested the
Since ha(e li(ed abroad and tra(elled worldwide a lon) time my &ers&ecti(e about the world is much different than my 'merican readers+ t!s also much different than my .ritish and 6uro&ean readers+ differentiate my .rit friends from the rest of 6uro&e mainly because they do2 n fact it!s (ery different than almost all of my readers worldwide+ t!s different because, amon)st other thin)s, ha(e been fortunate in that am well tra(elled and ha(e a financial and maretin) bac)round that (irtually co(ers the entire )lobe2 n addition, ha(e been in business and ad(ised some of the world!s )reat indi(idual and cor&orate icons includin)H se(eral )o(ernments: the 5atican: indus: ?ews: Christians: Muslims: ')nostics, 'mericans: South 'mericans: Canadians: the 6n)lish: Scots: French: 9ermans: 'ussies: 'sians of all descri&tions: South 'fricans: Me#icans: nati(e 'mericans: Dutch: talians: Scandina(ians: 8ussians: 'ustrians: Middle 6asterners: and Te#ans+ did this s&annin) 0 se&arate decades2 ha(e left out other reli)ions, races and &laces on the )lobe because they are too many to list+ mean no disres&ect if your )rou& wasn!t listed2 7hat hel&ed solidify my thou)hts was my recent tri& from the uic and ni mble+ For those of you that remember the land boom that e#isted between Dallas and Fort 7orth, Te#as in the 1!s you will recall the returns that e#isted were out of this world+ 4f course as with the Tuli& .ulb &hase @GJ - GA in the Netherlands it came to a screechin) halt after a few years of cray results+ @n case you didn!t now the first stoc maret or bourse was established in The Netherlands for tradin) in Tuli& bulbs2A 8eturns in Dubai ha(e risen to as much as 31 - G1 &er month, before flat @a&artmentA construction has e(en started+ am not su))estin) any of you tae on such an in(estment, but relatin) "what if a .irmin)ham, 'labama &erson had such an interest and also had such an a&&etite*" Perha&s this is a far fetched e#am&le for most of you, but currently ha(e de(otees &artici&atin) in this maret+ More normal em&hasis will be the main direction of the stoc maret, the &rice of commodities, includin) the &rice of oil and interest rates+ S&ecific marets @boursesA and stoc &ics will also be included where find e#ce&tional (alue (is-Z-(is their $%' &osition in the maret &lace+ The first &ics may include shares listed in the
by credit card+ Current free newsletter reci&ients that si)n u& before Gst Dec 1J will ha(e an initial and on )oin) reduction of E31 &er month or an initial in(estment of G # EII E3I - a sa(in)s of E12 The E31 a month sa(in) will last as lon) as you subscribe+ Subse>uent to the initial G month subscri&tion credit cards will be debited monthly EII @\03A+ My initial in(esti)ation of hi)h end >uality focused research and $%' de(otee su))estions ha(e indicated a monthly in(estment cost between EI and EII0 &er month would be the current e#&ected ran)e+ Neither nor any of my com&anies will tae &ositions in any of the &ublic shares mi)ht recommend+ n(estment newsletter subscribers will ha(e (arious o&&ortunities to in(est in both &ublic and &ri(ate com&anies that follow $%' &rece&ts and methodolo)ies+ For si)n u& information email Ste(en Daniels at ste(enY)uthriecastle+com+ This new financial newsletter will not be re)ulated by any financial authority, includin) the FS' or the S6C2 t is a newsletter not a fund2 TM6 M'N'96M6NT 'ND %'S68 .6'M F4Cue+ Some of the deals ha(e been )ood to )reat2 The &eo&le ha(e been )reat to outstandin)+ 's you now would rather ha(e a )ood deal with an outstandin) mana)ement team than the o&&osite+ ' few of the indi(iduals ha(e been truly )ifted+ 'nd under normal circumstances @and nothin) in my life is (ery normalA would ha(e &iced all the deal/o&&ortunities brou)ht me by the )ifted with e(en a )ood deal+ n these circumstances my )reatest challen)e is di(idin) u& my &recious time+ .ut that hasn!t been the case2 ;ou mi)ht as why Dan* 7hat could be your reasonin)* 'ren!t )ifted &eo&le with )reat deals lie hen!s teeth* Can!t you mae chan)es to mae it wor* 7ell my friends, de(otees of $%' and e(eryone else that reads this newsletter - the answer is no2 can!t chan)e &ersonal habits (ery easily2 .y the time someone comes to me their beliefs systems are &retty final+ Set in concrete2 Not mo(eable2 Comfortable2 uire+ .ut let!s loo at mere >uantitati(e time itself+ f you don!t wor o(er the weeends you are losin) about 1J days, not countin) holidays &er year+ ow does someone that wors 1J/G0 @3A less e#&ect to com&ete with those that do* 6(en a )ifted &erson stru))les )i(in) away such an ad(anta)e+ f you e(en wored Saturdays and not Sundays loo at the difference2 3A 7hen first came to the
JA Peo&le rarely want to wor o(er "s&ecial days" and that means somethin) different to all+ For yet another sur)ery on my body &iced my last birthday+ t was a(ailable and didn!t want a down day2 0A 7hen tra(el on lon) hauls rarely )o direct, which would be infinitely easier on my body if did+ usually ha(e sto&s and, or layo(ers at different air&orts for meetin)s+ 7hen )o to the 7est Coast of the uire more slee&2 'nother interestin) story is Mr+ Milen scheduled his first business meetin) with an indi(idual at either 3 am or J am+ This "dufus test" eliminated most of the wea or lacin) in focus and determination2 ow many of you would ha(e made a first a&&ointment with the in) of =un bonds* Most &eo&le on this )lobe don!t e(en ha(e the chronolo)ical years they ha(e as e#&erience because of their &ersonal wor habits, or lac there of2 This is es&ecially true of the youn)er )eneration+ Perha&s you can better a&&reciate when you meet someone in a business situation that a&&ears to be in his mid thirties and has acumen of a id2 e is &robably a I - 0 &erson that taes a lot of holidays
and considers himself to ha(e a balanced life+ f today was a test - did you &ass* To chan)e results you must chan)e beha(iour2 Success re>uires sacrifice2 'nd the more success the more sacrifice2 To ;our $uantum %ea&, Daniel S Peña Sr+ P+S+ %ife is only difficult for those that &ic and chose2 Dali %ama+ 'nd s&eain) of choosin) - all $%' (ideo and audio &roducts are now a(ailable on D5D and CDs+ n the s&irit of the holidays all free newsletter subscribers can ha(e /Grd @GGA off all indi(idual $%' &roduct &urchased by Dec th, 311J+ 4rder throu)hH &+morrisY)uthriecastle+com P+P+S+ The new '&ril day $%' Seminar is fillin) u& with some interestin) &eo&le+ Some of the best &eo&le to come throu)h in recent years ha(e si)ned u&+ P+P+P+S+ 'nother Focus Time Mana)ement 6#&erience2 %ist e(ery call, email and meetin) you ha(e Sunday - Saturday+ Now list all your &ersonal, financial and other )oals+ 9o down the list of weely contacts and see how many corres&ond with one of your )oals+ f you fall below 01, as most do you now now why your )oals ha(e eluded you and also now what to address to achie(e better results+
ISSUE #.1 G1th December 311J From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
's the year comes to a close wish you all a ha&&y holiday season and an e#tremely &ros&erous New ;ear2 311J has been a remarable year for chan)e+ 3110 will be the same as lon) as you continue to search for o&&ortunities+ ;ou must ee& your mind o&en to chan)e and a few of the thin)s you see will ha(e $%' written on them+ .ut you must ee& an o&en mind and be willin) to chan)e2 7ithout chan)e you can!t mo(e on in your life2 n fact, am doin) &ro=ects now would ha(e ne(er e(er en(isa)ed bein) in(ol(ed in before+ needed to )et way outside my own comfort one to )et in(ol(ed2 'nd belie(e you me, there isn!t (ery much outside my comfort one2 ha(e &assed on to my readers many stories o(er the years+ ha(e been sur&rised on the mi# of success stories tied to )reat stories of stru))le+ n fact almost all success comes after )reat stru))le and turmoil+ )et success stories attestin) to the merits of $%' often+ 'nd infre>uently, )et stories about &eo&le not allowin) $%' to wor for themsel(es+ Not many write about their failures2 a(in) faith in your self isn!t always easy+ n fact it is (ery difficult if you ha(en!t surrounded yourself with the ri)ht &eo&le+ ;ou need &eo&le that )i(e you constant &ositi(e in&ut and honest feedbac+ .ut e(en with this &ositi(e reinforcement and candid feedbac, at some &oint you need to face the "eye of the ti)er" by yourself2 4nly you now when this time occurs+ 's ha(e said, "t!s a time to suc u& your &anty hose2" These are times when the men are se&arated from the boys and the women are se&arated from the )irls and you either mae your $uantum %ea&, or you don!t22 @4ne missed $% doesn!t mean you will ne(er )et another chance2A No matter where we are in our li(es we ha(e all e#&erienced such occurrences+ n fact, many of these times are the thin)s we ha(e re)rets about later in life, because you didn!t do what was necessary when you had the o&&ortunity+ ?ust thin about your own life+ 4r what about your &arents* Ne#t month will ha(e been in the real business world GJ years2 's write this it seems lie a (ery lon) time, but in truth of fact the years ha(e &assed (ery >uicly+ Durin) that time ha(e been in(ol(ed in many stru))lesH some life threatenin): some financially threatenin): and some
emotionally threatenin)+ ha(e been on the "raors ed)e" of failure @as 8oss Perot would sayA, countless times+ 7ith the (arious business endea(ors ha(e been in(ol(ed with, almost e(ery sin)le one that didn!t come to fruition didn!t because the initiator or founder )a(e u& too soon, due to their lac of focus and belief in themsel(es+ They merely )a(e u& on themsel(es too soon+ They listened to con(entional wisdom too often+ 4f course they had "reasons+" Peo&le always ha(e reasons+ Such reasons can (ery easily be found and in many cases fabricated and in(ented+ 4ur families and friends con(eniently hel& us initiate and or su&&ort these reasons not to continue the stru))le+ Family and friends ha(e been tau)ht to "be there" for friends and lo(ed ones, etc, at their time of need+ 7e ha(e all been instructed and tau)ht to say the a&&ro&riate thin) such as, "we understand" and stuff lie that+ @ ha(e ne(er said, " understand" when someone is )i(in) u& on themsel(es because thin)s )ot too tou)h2 n fact say =ust the o&&osite+A 7e do thin)s lie that es&ecially around holidays+ For those of you that ha(e wored with me you now, "there is ne(er a )ood time to mae a difficult decision2" Candor and honesty are rare commodities when dealin) with emotions+ 7ith one or two e#ce&tions durin) my times of crisis ha(e had (ery little of this ind of su&&ort+ Not because didn!t necessarily need it @es&ecially when was much youn)erA, but =ust didn!t )et it+ For those of you that now me, you also now why+ Most &eo&le =ust don!t feel re>uire such words and, or actions+ 7ith the e#ce&tion of my mom &assin) one year a)o Christmas 6(e, can!t remember e(er )ettin) such in&ut+ 's ha(e almost always been left to fend for myself and "stru))le" throu)h the situation, challen)e and &roblem+ @For those that now the difference between a Peña &roblem and a challen)e you can lau)h now2A firmly belie(e the milieu ha(e been e#&osed to ha(e made me the &erson am+ 6r)o, when the de(il is at your door, who do you call* 4r when do you say, "7hat would Dan do*" Now the main reason for this year end news letterH 7hilst searchin) "9oo)le" for a name for a new (enture will launch ne#t year with attendees from a recent Castle Seminar, came across the ndian word "5edanta"+ .ac in the mid-nineties, an ndian cou&le )a(e me a boo on the sub=ect whilst attendin) a seminar here at 9uthrie+ '&&arently "5edanta" was the $%' ty&e of life style and reli)ion of ndia thousands of years a)o+ 7hilst readin) came across the short story below+ had heard similar tales, but ne(er had seen it written down+ For those of you that ha(e been in business with me, you now almost ne(er bail a deal, or indi(idual out of a &roblem, other than hel&in) with &ositi(e understandin), encoura)ement and different ideas+ rarely thou)ht of why+ had merely thou)ht my e#&erience told me no )ood comes from allowin) someone off the hoo of dealin) with life, unless it!s truly life and death+ new the action of dealin) with the stru))les of life was infinitely better than bein) sheltered from them2 @ ha(e stru))led with this idea whilst seein) my children )row u&2A ha(e often said, "'s lon) as the hit @bulletA we were )oin) to tae was abo(e the water line would allow it to occur+" 7here hits below the water line, that could sin us, would assist to insure we were there to fi)ht another day+ 8ead and &onder the short story that follows+ 7hether you!re a &arent, a business owner, or a hi)h le(el e#ec, thin before you mo(e to hel& someone alon) the road of life+ 7hilst you may ha(e the best intentions at heart you may ultimately be cri&&lin) the &erson you are tryin) to hel&2 The road to hell is &a(ed with best intentions2 'nd can assure you continuin) to assist someone out of challen)es and &roblems will insure that the indi(idual will not reach their full &otential2 wish all of you a )reat holiday season and an incredibly =oyous and &ros&erous New ;ear222 want all of you to a&&roach 3110 as if you had "no limits to your abilities+" ;ou will sur&rise yourself+ Success is infectious2 So let us )o and )et infected with what it feels lie to be all you can be22 To ;our $uantum %ea&,
Daniel S Peña Sr+ P+S+ am )i(in) two I1 minute $%' tals in Manchester, 6n)land, 30 ?anuary, for The $uantum 4r)aniation, P%C, 777+$<'NT
' man found a cocoon of a butterfly+ 4ne day he saw a small o&enin) in the cocoon+ e sat and watched the butterfly for se(eral hours as it stru))led to force its body throu)h that little hole+ Then it seemed to sto& main) any &ro)ress+ t a&&eared as if it had )otten as far as it could and could )o no furtherU so, the man decided to hel& the butterfly+ e too a &air of scissors and sni&&ed off the remainin) bit of the cocoon+ The butterfly then emer)ed easily+ .ut, it had a swollen body, and small shri(elled win)s+ e continued to watch the butterfly, because he e#&ected that, at any moment, the win)s would enlar)e and e#&and to su&&ort the body, which would contract in time+ Neither ha&&ened2 n fact, the butterfly s&ent the rest of its life crawlin) around with a swollen body and shri(elled win)s+ t was ne(er able to fly+ 7hat he had done in his well intentioned indness and haste, he did not understand was that the restrictin) cocoon and the stru))le re>uired to )et throu)h the tiny o&enin) were 9od!s way of forcin) fluid from the body of the butterfly into its win)s so that it would be ready for fli)ht once it achie(ed its freedom from the cocoon+ Sometimes, stru))les are e#actly what we need in our life+ f 9od allowed us to )o throu)h our life without any obstacles, it would cri&&le us+ 7e would not be as stron) as we could ha(e beenUU and we could ne(er flyUU+ ha(e a )reat day, a )reat life, and stru))le a littleU rememberU 9od wants you to fly2
ISSUE #.2 3Ith March 3110 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
In re.ent !ees/ I #a4e %een 4er' %us' !it# .lients/ eals an artners< In -a.t I #a4e %een to t#e USA = ti(es -or 10 a's ea.# tri in 900>< On (' last tri one o- (' artners tol (e #e #a ai #is 1? 'ear ol &ranau&#ter @> -or e4er' tae s#e listene to o- (e tea.#in& 8LA< He !ante to set t#e tone !it# #er earl' In turn s#e sai/ I !as .ool an a #ot ta(ale 7o s#e+s not LatinCHisani. I sent #er an auto&ra#e YFHM<
7hilst u&datin) for the u&comin) New QL4 4pril 5e)en %a 5eminar , came across )reat " ,$rs $f ,is$m 9$r B%siness n Life " wrote about, bac in early 311+ was so struc with it decided to re&ublish it in this newsletter+ ;ou will see it below+ t!s (ery )ermane to all my readers, no matter where you are in your $%' life cycle+ 8ead it and )rade yourself+ ow do you measure u&* started readin) it weely myself as a benchmar for e#cellence+ The New Day 6#tra(a)ana here at 9uthrie is ra&idly a&&roachin)+ 3G rd '&ril will be here soon+ had for)otten how many additional thin)s tal about in the " Day Seminar"+ To see the s&ecial
offer for the "New Day Seminar" and what a )reat (alue at 01 discount to the old cost, &lease "clic here"+ 7e ha(e had a cou&le of dro& outs due to "life+" Man &lans and 9od lau)hs2 's &art of the u&date, since ha(en!t )i(en the seminar since I/I ha(e looed at all the re>uests, not only for the seminar itself, but what my readers and de(otees wanted me to do (is--(is different seminars+ was sur&rised to read had many re>uests to do the III 4ne Day $%' Seminar a)ain+ This is the seminar )a(e at %ondon eathrow 'ir&ort twice durin) III and ne(er re&eated them, due to time constraints+ For those of you that attended you will recall how successful they were+ 's you now, didn!t till last year )i(e seminars for 3 years+ .ut now that am bac in the swin) of seminars a)ain and seein) what tremendous (alue they brin) and en=oyin) it, ha(e decided to )i(e a Day $%' Seminar a)ain+ 4f course there will be fairly si)nificant differences to the III (ersion: + it will be u&dated and len)thened by a cou&le of hours, and 3+ it will be here at 9uthrie2 ;es you are readin) correctly+ ow will do this* 7ell am buildin) a lar)e &a(ilion here to accommodate other new business interests ha(e+ broe )round early in the New ;ear and it will be com&leted in ?une+ thou)ht a lot about this and the more thou)ht about it the more lied it+ 4ne of the reasons sto&&ed )i(in) " Days" was the constant tra(el to a location for =ust day+ For those of you that remember from May 33, IIG to mid No( IIG )a(e 33 4ne Day Seminars across the uent to that )a(e G Day $%' Seminars and "Castle 6(ents" that were (ery easy on me+ ha(e been ased to do Day $%' Seminars many times, but didn!t+ .ut late last year was a&&roached to do three Day $%' seminars in %ondon, Dubai and 'ustralia+ lied the deal and lied the (enues so a)reed to do them+ 's it turned out the &romoter became ill and the &ro=ect didn!t )o throu)h, but it did )et me thinin) about it a)ain+ Then had an e&i&hany whilst walin) around 9uthrie with my do)s+ Since was already )oin) to build a lar)e &a(ilion why couldn!t do the Day Seminars here, where it would be in the ambiance of 9uthrie Castle and its en(irons* 7hat better &lace to demonstrate the &erfect meta&hor for ";esterday!s Dreams are Today!s 8ealities*" 'fter all 9uthrie Castle was my dream o(er 31 years a)o+ 6r)o, I ecie t/t(s /t I m $in t$ $ t/is %" 2 t/+ will add a &a)e to my site, alon) with a se&arate dedicated web site soon+ .ut did want to tell my readers now, so you could ha(e an early start , so they don!t miss out+ wanted to tell, es&ecially for those that li(e in other &arts of the world and would want to attend+ 'nd =ust to let you now ha(e no G Day Seminars &lanned for 3110+ The seminar will be at an in(estment of only JI, or about EI01, &lus (at, for the first 11 that re)ister by '&ril 1th+ Thereafter it will be 0I or about E,01+ So those of you that tae action will sa(e 11, or about E3112 t will start an hour earlier at am and )o till &m, an hour later than normal+ The $X' will )o on as lon) as there are >uestions+ 7e will recommend hotels who )i(e a s&ecial rate @which will not be at %ondon &ricesA to stay in nearby Dundee and Carnoustie+ 9reat room rates with dinner ha(e been &re arran)ed+ 7e will &ro(ide buses to and from the e(ent at our cost+ 7e will &ro(ide a bo# lunch and refreshments durin) the day+ 's &art of the in(estment attendees will recei(e the Day $%' Seminar Power-Point &resentation+ 'nd for those that come early and, or stay after the e(ent you will )et an o&&ortunity to &lay at the 9uthrie Castle 9olf Club, my own course, at no char)e, as much as you want+ 'nd for a few that want to stay at 9uthrie Castle the ni)ht before and, or after they will be my )uests for dinner and drins for an additional cost+ am not sure what the res&onse will be, but since lie e(ents at %ondon eathrow 'ir&ort in III were sold out, sus&ect the " Castle +ew ; %a QL4 E)ent " will be hea(ily attended+ 'fter all, many of you ha(e re>uested a more affordable $%' e(ent to attend, to )et a "Dose of Dan," for many years+ 'nd now can &ro(ide an e(ent that maes sense for you and a (enue that wors for me+ So here is what you ased for and it!s at my home - 9uthrie Castle - my 0G year old 0 th
Century Fairytale home+ 's the &hotos on my sites show 9uthrie is a (ery s&ecial &lace+ t certainly won!t be lie )oin) to a hotel for =ust another seminar or course2 'll the details will be &ublished on my web site shortly+ .ut if you are seriously interested you should tae action N472 Contact ste(enY)uthriecastle+com, N472 n addition, the first 30 to si)n u& will )et an auto)ra&hed co&y of my first boo, .uild ;our 4wn 9uthrie2 The seminar will be limited to 311+ 'nd for those that are interested in bein) entertained by me at my home before and, or after the e(ent you must contact Ste(en 'S'P2 There are only a few rooms a(ailable+ Here is 0rief escri&ti$n $f Sient 7$ints C$vere in t/e 1 8" FLA SeminrM ;,/t is FLA;
;our $uantum %ea& 'd(anta)e .uildin) Perce&tion to become a 8eality Creatin) ;our Dream Team for Success Ste&s that mae a Deal The Plan with no 6sca&e "Who am I?"
Pa' Pri.e to A.tion 7o -ree lun.#/ %ut suer su..ess .an %e a..o(lis#e at a is.ount 8uantu( Lea A4anta&e A.tion $ar Plan T#e %usiness in4est(ent RE, FLA" )#e. List Ree-ine &oals an 4ision Builin& Sel- Estee(/ Sel- )on-ien.e an Sel- $ort# E(otional Ban A..ounts an #o! 'ou %uil u a Reser4oir "ettin& .o(-orta%le !it# #i&# er-or(an.e Leaers#i an its i(ortan.e in 8LA Your ou%ts are not rou.ts o- a..urate t#inin&/ %ut #a%itual t#inin& Suer su..ess D not -or e4er'one )on4entional !iso( D t#e losers .rut.# $#at it (eans to %e suer su..ess-ul Laser Bea( Fo.us *S Fero.ious Fo.us Fi4e )reos -or Su..ess Prearin& -or 'our 8uantu( Lea 1> e's A.#ie4in& 'our 8uantu( Lea G o!er strate&ies )as#in& in on 'our su..ess< ,oin& it a&ain< Tae A.tion 7O$ or 7e4er I m s ecite s I cn et t m" e 0$%t t/e 1 8" FLA Seminr /ere t G%t/rie! It(s /r f$r me t$ 0eieve I in(t t/in6 $f it m%c/ s$$ner! O/ e! Better te t/n never! ,O'8S O9 ,IS8O<9O' BUSINESS @ LI9E
J Teams with the clearest sense of (ision L im&act 7N2 J Talent base - &eo&le+are the most im&ortant assets of new economy com&anies+ J .est >uestion to as a C64+why would )reat &eo&le want to be &art of your com&any* J Customers will constantly raise "the bar of e#&ectation" for com&anies+ J The internet is a )iant "lab e#&eriment" for cor&orate 'merica and those com&anies that
reco)nie this and &lay well within the rules of ambi)uity L fluidity will sur(i(e and win+
Nothin) is cast in concrete+ J The best form of customer ser(ice is S6%F ser(ice+ Constantly em&ower customers to )et their
own answers themsel(es+this is a hu)e differentiator+ J "Cloc S&eed" of business is constantly acceleratin)+time really matters more than money
@money you can sometimes )et bac, time you can!tA most e(en bri)ht underestimate the (alue of time+thin more in terms of "return on minutes"@84MA than "return on in(estment" @84A+ J 9et in the di)ital )ame fast, no matter how small+"launch, listen, learn, then re-launch2 J sie is the enemy of s&eed2 s&eed to react matters more than sie of com&any+ J 9ood leaders mae sense of chan)e in the world+then im&art that insi)ht to the team+ J Shiftin) thin)s @chan)eA when life is )ood is tou)her than when thin)s are bad, but you should
constantly be shiftin)+mor&hin)+ J Peo&le 7'NT to be led by stron) leaders and )ood leaders are constant students+ J The =ob of C64s is not to be the smartest )uy in the room, but to attract other smart )uys to
wor for him+ the ")rou& brain" is far more &owerful than indi(idual brain&ower+ J Current accountin) and measurement systems and metrics are outdated for new economy
com&anies+ J uman ca&ital is the new currency of the di)ital economy+ J Technical chan)e is a sub-set of )reater chan)e - cultural chan)e+ J 9ood is the enemy of 9reat22 7hen we )et )ood, we usually >uit+ J 9reat DN' encodin) of &eo&le and (alues @not ideasA in youn) com&anies early on will create
the truly )reat and lastin) com&anies later+ J t is not im&ortant what we do, but whom we do it with+)reat com&anies didn!t start with what
they &lanned on doin), but they started out )reat by who they &iced to do it with2 Peo&le should )et on your "bus" not for where you are )oin) but because they lie who is ridin) on the bus with them+ The "bus" will also chan)e directions, but the bonds of )ood &eo&le won!t+ J 'lways &ut your best &eo&le on the best o&&ortunities, not bi))est &roblems+ J "ST4CBD'%6 P'8'D4Q"+ 'dmiral Stocdale sur(i(ed years of torture in 5ietnam not by
bein) o(erly "o&timistic" of bein) rescued within wees, but by bein) realistic of nowin) it could be years+ The other "o&timistic" 'merican P47!s around him died from broen e#&ectations and hearts+of ho&in) to be rescued within wees+ 8ealists are brutally honest with themsel(es+yet they still ha(e an unwa(erin) belief that they will &re(ail+"failure is not an o&tion: e(en in the face of )reat ad(ersity+=ust now what your ad(ersity really is"2 J The ed)eho) 5s Fo#+the fo# is smart L cunnin) but )ets cau)ht u& in lots of details,
becomin) misdirected and chasin) his own tailUhed)eho)s do only thin) and do it well and
nothin) elseUeat+ T6 .6ST C64!S 4F '%% TM6 '86 6D9649S22 6m&eM imm" Crter s smrt $r" tc6e mn" iss%esn $t $st in eti '$n 'en / $n" 1 t/in $n /is min f$r > "ers'%ssirem$ve t/e ;evi em&ire; rem$ve t/e ;evi em&ire; n rem$ve t/e ;evi em&ire;! 'en s /ee/$
^ A ret Hee/$s /ve 3 c$mm$n tritsM +
Passionate about what they belie(e in+
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8eco)nie that they are )enetically encoded for their chosen field of endea(our+they really %456 what they do2
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'nd somebody 7%% &ay them for what they lo(e to do2
^ CEO(S m$st im&$rtnt ts6never st$& 0ec$min %ifie f$r t/e $0 ^ 9LD,HEEL E99ECT/en "$% strt &%s/in 1* t$n met f"/ee it t6es $ts $f eff$rt t$ m6e sine rev$%ti$n 0%t ess f$r t/e net 3m$ment%m i strt t$ crr" t/e /ee f$rr itsefsme is tr%e in 0%siness It(s t$%/ n s$ t$ 0%i m$ment%m n inerti 0%t 0ef$re $n it strts s&innin %ner it(s $n f$rce After /ie
^ Use tec/n$$" $n" fter "$% /ve m$ment%m n$t t$ crete it Tec/n$$" is sim&" n cceert$r $f m$ment%m n$t cret$r $f it
^ B%iin ret c$m&n" mens "$%r 0%iin s$met/in ,O'THD $f stinF%esti$nM /$ $ "$% 6n$ if "$%r c$m&n" is $rt/" $f stin AnserM $es it stn f$r s$met/in ret t$ s$me$ne
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Preser(esH core (alues and &ur&ose+
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Chan)esH o&eratin) &ractices, technolo)ies and culture as needed+
^ C$sin c$mments t$ ive 0"M ^uman talent is the currency of the new economy+ ^9ood is the 6N6M; of )reat2 ^Time is more im&ortant than money @"84M"A
^.e a hed)eho)222
T$ D$%r F%nt%m Le& 8nie S 7e: Sr
&'5' M new hilst tring to write m #irst finnci nesetter " since m recent announcement" I decided not to go #orward with it' It was too time consuming to write a qualit letter and I wouldn’t write anthing I wouldn’t !e proud to put m name on' >e ha)e not de!ited anone’s credit card' I apologi/e #or the #alse start8 As$ visit $%r e0sitesM
htt&H//www+dan&ena+com $r htt&H//www+>lablo)+com
ISSUE #.3 th May 3110 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
The first Day Castle Seminar in more than 0 years is now history+ 'nd what an e(ent it was2 n attendance were stron) $%' de(otees datin) bac o(er 1 years+ @The seminar is limited to 1, but s>ueeed in a $%' de(otee!s wife at the last minute+A The indi(idual e#tended role &layin) was es&ecially hel&ful in dri(in) home many $%' &rece&ts+ The &artici&ants ased for additional time to simulate many different situations+ en=oyed the final ni)ht )raduation blac tie Scottish ilt dinner+ Seein) all the male &artici&ants in ilts was >uite a show and we will mae it tradition )oin) forward+ will ha(e &hotos on my site soon+ 'nd you &robably ha(e already )uessed, it was such a success ha(e decided to do another Day 6#tra(a)ana th - 30th Se&tember 3110+ Two of the recent attendees ha(e already booed for Se&tember+ 'ttendance will a)ain be limited+ For more information seeH htt&H//www+dan&ena+com/docs/newday>la+html 'lso since my last Newsletter the new $%' 4ne Day Castle Seminar site has been com&leted @www+>laonedaycastleseminar+com A+ t describes in detail what the offer is+ 'nd chan)ed the offer dramatically to create e#traordinary (alue for money+ nstead of \0I @about E,311A for each
attendee am allowin) each attendee to brin) one )uest - F8662 Two for the &rice of 4ne 2 www+>laonedaycastleseminar+com 'fter thinin) about it decided want as many to attend as could+ So essentially hal(ed the &rice, when was informed that almost twice the number of attendees could be seated in the new &a(ilion, as first thou)ht+ 's ha(e told you still mae mistaes from time to time2 n this instance assumed somethin)+ 'nd you now what ha&&ens when you ass u me2 Now (irtually all that read this Newsletter can afford a $%' Castle 6#&erience2 www+>laonedaycastleseminar+com 01 Money .ac 9uarantee 2 To mae it e(en better (alue for money, for those that &erha&s still >uestion $%', was con(inced by a youn) mentee, Dan %o, to )i(e a money-bac )uarantee on the seminar as do on all my &roduct now+ .ut to mae it as stron) a )uarantee as the seminar is )reat - decided to )i(e 01 of your money bac+ That!s 01 more than you &aid - no >uestions ased+ 'll you ha(e to do is come to the bac of the room at anytime before the end and you will )et a che>ue @checA made out to you+ ')ain no >uestions ased+ Don!t miss this o&&ortunity to )et $%', from the horse!s mouth so to s&ea, at my home+ 4f course if you as after the drins &arty at the end someone on my staff mi)ht >uestion the (eracity of your demand2 F866 Power&oint Presentation 2 'nd if you are a Newsletter subscriber, you will recei(e the entire Power&oint &resentation free alon) with another )ift2 o&e to see many of you there @hereA2 www+>laonedaycastleseminar+com T$ D$%r F%nt%m Le& 8nie S 7e: Sr
P+S+ Durin) the wee lon) seminar, =ust ended, often s&oe about a new boo was =ust )i(en by one of my mentees, "?um& n" by Mar .urnett+ had scanned it &rior to the seminar, but now ha(e read it2 stron)ly recommend it+ t follows the life of a id from the 6astend, %ondon, who went throu)h the Fallands Conflict, who had a dream of success+ e went to ollywood to find his fortune+ 4f course he is now famous for &roducin) "Sur(i(or, The Contender, and The '&&rentice" in the
ISSUE #.) th ?une 3110 From Dan Peña - 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
t!s been a few wees and this news letter+ 's they say in Te#as am feel lie a one le))ed man in a three le))ed ass icin) contest2 This (ery short letter is &urely an informational+ didn!t want to wait till my ne#t re)ular letter to mae the announcements belowH My mentor site is finally com&lete, or should say &osted+ www+mentor&ro)ramme+com t will be
chan)ed from time to time as ada&t it to the users+ t is attached to my Dan Pena site+ The site is self e#&lanatory+ Those interested merely fill in the a&&lication >uestionnaire and submit it+ would su))est you all read the a&&lication+ t is e#tremely re(ealin)2 'nd as you will read, if you don!t fulfill your )oals durin) the first 3 months of the mentor &ro)ramme you will recei(e a no >uestions ased 01 money bac )uarantee22 am es&ecially e#cited, or as e#cited as a man my a)e can be, to )et the &ro)ramme launched+ 7hilst ha(e had many mentees o(er the years, ne(er had a formalied &ro)ramme+ 6ach &ro)ramme will be bes&oe or hand made, but there will be a number of centralied benchmars based on my many years of worin) as a mentor and as a mentee of Constantine 9ratsos, ?im Newman, and ?erri 4rmand+ f learned anythin) it is to model thin)s that are already successful2 'nd that is what this mentor &ro)ramme is based on+ 4r to &ut it in modern &arlance [ this &ro)ramme is the best of best &ractices2 'nother &oint of information, chan)ed the date of the day $%' Seminar at 9uthrie Castle to Se& I from 30 ?uly+ www+>laonedaycastleseminar+com/+ ' business commitment has come u& une#&ectedly and can!t mae the ?uly date now+ a&olo)ie for any incon(enience+ For those of you that &urchased ticets in ad(ance, etc, &lease notify my office for restitution+ 'll other term and conditions a&&ly, includin) the no >uestions ased 01 money bac )uarantee22 want to tae this o&&ortunity to than those of you that ased me since 'u)ust of 311 to start )i(in) seminars a)ain+ t has been a conduit of &eo&le with interestin) ideas and dreams that are attainable throu)h the $%' methodolo)y+ 's many of you now truly en=oy assistin) &eo&le fulfill their dreams so they can be all they can be+ Thans a)ain2 T$ D$%r F%nt%m Le& 8nie S 7e: Sr
P+ S+ 'll would say is stron)ly su))est and you now what mean when say su))est [ you all tae a close loo at the mentor a&&lication+
ISSUE #. Jth 'u)ust 3110 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
Thans for all your birthday wishes2 )reatly a&&reciate the ind thou)hts2 am on the road, but didn!t want an o&&ortunity to )o by for you whilst am tra(ellin) &uttin) my new mentor &ro)ram in to &lace+ Due to a recent com&any )rou& cancellation there are a few s&ots now o&en at my u&comin) -day $%' Castle seminar be)innin) the th Se&tember+ Their misfortune can be someone!s )reat benefit2 Man Plans2 9od %au)hs2 7hat maes the o&&ortunity e(en more uni>ue is we are ha(in) a &ro-am )olf tournament to ic off the weelon) e(ent to celebrate my recent 1th .irthday+ ence the seminar attendees can attend from the th Se&tember in order that they may &artici&ate in the tournament theth+ nterested &arties should contact Paul Morris at &+morrisY)uthriecastle+com loo forward to seein) you+ T$ D$%r F%nt%m Le&
8nie S 7e: Sr
ISSUE #.. Jth 4ctober 3110 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
t!s been a few months since my last newsletter+ will use this letter to catch you u& and &ass on some thou)hts and chan)es in my life: to share with you an email from a mentee who ha(e written about before: and mae a few )eneral comments about chan)e and how difficult it can be e(en for someone lie me2 's you now had a bi) birthday a few wees a)o+ 'rri(in) at my 1 th )a(e me &ause for thou)ht, es&ecially since it coincided with my dau)hter )oin) away to uni(ersity in Te#as+ She was my last child to lea(e the nest+ ence, too time and the o&&ortunity to reset some of my own )oals and habitsH + )a(e u& salt, su)ar, mayonnaise, candy/cooies and all sweets, and all red meat+ ;es still drin2 So far with no effect that can notice other than ha(e lost some wei)ht+ 3+ decided to chan)e my wor schedule to mirror my wor habits durin) my J1s, i+e+ increase my wor time at least 30 to o(er 11 hrs &er wee+ To e#hibit and launch this new wor ethic embared on a well &lanned and coordinated tri& that be)an 33 'u) and ended Se&t+ This tri& too me from a am fli)ht from 'berdeen throu)h %ondon, N;C, %', Cle(eland, N;C, %ondon, 'msterdam, 8otterdam, Me&&en 9ermany, 'ntwer&, 'msterdam, %ondon, N;C, ouston, onolulu, 9uam, Manila, 9uam, onolulu, %', Palm S&rin)s @to ha(e brunch with my dad and oldest son on his thA, %', Phoeni#, Santa Fe NM, ouston, Chica)o, Cle(eland, %ondon, to 9uthrie @to &lay in a Pro/'m )olf tournament to celebrate my 1 thA+ 'nd to ca& it off the ne#t day started a wee lon) castle seminar+ For those that were at the seminar they can tell you finished stron)er than started2 ow did do it* ?ust relatin) the tri& tires most+ t!s sim&le2 am still doin) what lo(e and now am )oin) to do e(en more of it2 4f course bein) in (ery )ood sha&e, e#ce&t for the 31 &ounds should lose, hel&s enormously+ 'nd with the diet chan)e &erha&s that will cut &ounds off me+ G+ fired my &ersonal trainer who started with in ?an because she was too easy in my I1 minute G times a wee sessions+ She trains of the local football teams+ er sessions are called beastins and she is called the beast2 So much for nic names+ train myself now and want to be as stron) as was when was J02 J+ chan)ed my eatin) habits further ha(in) 0 [ small meals a day when e(er can+ Thou)h won!t carry food with me as has been su))ested+ also tae &robiotic stuff and use &robiotic yo)urt re)ularly+ 'nd do feel the difference thou)h was a bi) sce&tic at first+ 0+ will not stay at a hotel whilst tra(ellin) unless it has cardio e>ui&ment and wei)hts+ This has &recluded me from stayin) at some of my fa(ourite small hotels+ + am &ushin) myself, my staff and the deals am in(ol(ed in harder+ 'lways rememberin) what )ets measured )ets done2 ha(e ado&ted a new sayin), you!re looin) at you!re calendar/diary and am looin) at my f g g g g g g watch2 + 8estructured how and why )et in(ol(ed in deals+ 'nd am re-e#aminin) the deals am in+ + ha(e eliminated most of the fluff in my life2 Thou)h still see my family/ids e(ery J [ wees+ My dau)hter bein) in a small town in Te#as will be more of a challen)e than my sons who
are both in the %' area+ I+ To )et all the deals am currently in(ol(ed in to their res&ecti(e P4s or 6#its as soon as humanly &ossible+ 1+ 'nd to focus and dri(e my (arious future teams so we don!t lea(e any talent wasted, e(en at the be)innin) whilst we are )ettin) used to one another+ ;ou mi)ht as why would do any and es&ecially all the abo(e* 7ell my friends, we all )et slo&&y2 6s&ecially as you )et older+ 4(er the last summer looed at what was the difference between my 01s and J1s* didn!t )o bac to my G1s, but was more lie my J1s than 01s+ n summary it was focus and the dri(in) follow throu)h became famous, or infamous, for durin) the bi) money creation years had+ t!s the same focus teach at my seminars+ 8emember the whi& at the old seminars* .ut when looed at myself in absolute candour, saw was not &erformin) as well as now can, thou)h it was way more than enou)h for anythin) was in(ol(ed in the last 1 years++ had fallen into the tra& - what do ha(e to &ro(e to anyone* e(en thin subconsciously started to measure myself a)ainst the best seminar attendees and a few &artners and what con(eniently remembered of my &ast+ 7hilst ha(e (ery successful &artners and mentees, and ha(e coached some su&er stars, all could be much more successful if they held themsel(es more accountable and were much harder on their &artners, em&loyees and themsel(es2 .ut (ery few want, or lie bein) tou)h+ 'lmost all &eo&le want to be lied+ 'nd thou)h hold them accountable, am with them only a short &eriod of time &er month+ 'nd e(en thou)h they )i(e me a weely re&ort that isn!t the same as bein) there to instil and create what they should be doin) on a daily basis+ now the most successful ones say, 7hat would Dan do in this situation* 'nd that seems to wor, but my foot u& t2 heir ass is better for most, because am not a &erson who is easily let down+ still remember my dearly de&arted &artner, Charlie, sayin) ;ou are the most difficult &erson to let down ha(e e(er met+ would rather crawl o(er broen )lass2 'nd he had (ery few )lass cuts2 6(en &eo&le am in business with ha(e &eriodic doubts, as we all ha(e from time to time, e(en with our Dream Teams and &rofessionals2 Thou)h can!t really say that ha(e these feelin)s (ery often, it can ha&&en+ 'fter all, my tas for $%' de(otees is, to )et them to do what they don!t want to do @the hard stuffA, to be what they want to be2 ence, thinin) all this throu)h o(er a &eriod of ni)hts si&&in) some s&lendid be(era)e, had an e&i&hany+ new had chan)ed a number of thin)s about my daily life and how transacted business2 n short a )ot a lot easier2 .ut had deluded myself in to belie(in) had )rown more efficient o(er time+ 7hilst this was &artially true, was not admittin) to my self had )rown soft2 6r)o, new o(er many years, )ot too rela#ed+ For those of you that ha(e been to 9uthrie, you now it!s a &lace you can )et used to (ery easily2 n fact one of the recent seminar attendees stated he didn!t want to )o home, e#ce&t for the fact he wanted to )et started on his new $%' action &lan+ Most &eo&le don!t want to lea(e2 'nd now was one of them2 hadn!t made a tou)h tri& lie the one described abo(e in a (ery lon) time+ n fact the only com&arable tri& @and it was not anywhere as tou)hA was from the
o&&ortunity to e#&and my in(estment horions and what s&end my (aluable time doin)+ n fact one of the com&anies am Chairman of, www+>uantumor)aniation+com , will be )oin) &ublic in the New ;ear and &art of my mandate will be to )row the business in the uantum action &lan2 'fter all what )ets measured )et accom&lished2 'nd sincerely ho&e this =o)s some of you to loo at yourself2 's ha(e often written, if t$" s test $% "$% /ve &sseK <" Her$!
My mentee said could share this email with the last seminar attendees, which did, but new it had a much lar)er &otential maret+ ')ain, because $%' thou)h desi)ned and memorialised for business &ur&oses, it has a much )reater life fulfillin) a&&lication+ 's ha(e written, &eo&le in all wals of life ha(e used these &rece&ts+ Tony 7ard, a )ood rish lad started in business with me, but switched his focus away from business to athletics+ Many others ha(e used the $%' &rece&ts in reli)ion and for losin) 01 &ounds, etc+ ha(e written before Tony is my hero+ 7hilst blind before turnin) to runnin) he accom&lished much more than most that follow the $%' methodolo)y with full si)ht in business+ 's a trained chartered account he is &erha&s the bri)htest &erson ha(e e(er coached and that taes in a lot of su&er brain &ower2 'nd as those that now me, am not for too many com&liments2 .ecause ha(e always belie(ed those that feel )ood about themsel(es with hi)h self esteem don!t need all the T%C+ Trum&, .ranson, 9ates, Dell, 4nassis, et al, didn!t and don!t need it, but that!s the basis for another newsletter2 .ut rememberH when you are successful, it!s much easier to )et your head screwed on strai)ht2 ere!s Tony!s short emailH i Dan !m &retty sure you ha(e a castle e(ent on this wee and are &robably u& to your eyes in it+ told you about the challen)e was doin) around reland [ well as always when achie(e somethin) nowadays often reflect with some emotion on how ha&&en to do the thin)s do and ine(itably my friendshi& and association with you comes to the fore+ %o) on @and ha(e your castle attendees lo) on toA htt&H//www+challen)eG3+com+ t!s sli)htly different than success in a business sense but it will a&tly demonstrate what can be done if you &ut your mind to somethin) and &ursue it with enthusiasm+ t started off as a dream a year a)o, the &lans chan)ed hundreds of times, but now it!s a reality+ better sto& now or will be accused of &la)iarism22 Please use my recent success as testimony to your beliefs, methodolo)ies and success coachin)+ o&e all is )oin) well and loo forward to catchin) u& soon+ To your $uantum %ea& Tony+
)et a number of emails a month and am always honoured and ne(er sur&rised to hear what &eo&le with dreams can and do accom&lish+ still )et a lum& in my throat when thin of the success Tony and others ha(e had, once they be)an to belie(e in themsel(es more+ Tony &ro&osed to his fiancWe here at 9uthrie earlier this year+ She!s a wonderful woman, notwithstandin) she!s a lawyer+ The )ood news is she is a lady rish lawyer and that maes her >uite different2 Net 1* Ders
My o(erall )oal is to accom&lish more in my 1s than did in my G1s, J1s and 01s2 ha(e the )uts, nowled)e, e#&ertise and acumen and now reinforced by my new determination, focus and desire will )o in to my 1!s on a new search and destroy mission to im&lement and e#ecute2 My only challen)e is to find the correct o&&ortunities for me2 !ll mae mistaes, but understand that!s the )ame+ 'nd nowin) you can!t hit another )rand slam without swin)in) at the &late2 T$ D$%r F%nt%m Le& 8nie S 7e: Sr
P+S+ 's was announced by my office recently, the wee lon) seminars ha(e been so successful am ha(in) another+ t will run G1th No( to th Dec+ 7e already ha(e a few current mentee/&artners comin)+ t seems that the current worin) &artners are (ery much desired at these e(ents+ 4f course, to be able to interface with &eo&le that are li(in) the $%' dream is a real benefit+ 4f course, it isn!t lost on new attendees that somethin) must be (ery s&ecial for the &artners who ee& comin) bac as a &ayin) attendee2 P+P+S+ 't a recent dinner with my youn)est son, Derric, was told he wanted to )o head to head with me in business2 told him would wait with baited breath+ e went on to say when &eo&le say the name Peña, he wanted them to mean Derric Peña2 e turned 33, 'u)ust and is a senior in uni(ersity2 't the same dinner, told him of a 3 year old that had made E0 million by sellin) his business+ Derric said, better )et )oin) Dad2 From his li&s to the %ords ears2 P+P+P+S =ust came across a youn) man named Byle Maynard+ e has written a new boo No 6#cuses+ This is an incredible story that maes 8udy, which often mae mandatory (iewin) at seminars, loo lie a nursery tale+ t!s a story about a youn) man who has transcended hardshi&s since childbirth, beyond your wildest ima)ination and succeeded a)ainst all odds2 ;ou can!t read the boo and e(er a)ain, thin or say you ha(e an e#cuse not to be whate(er you want to be2
ISSUE #.4 th December 3110 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
=ust finished another wee lon) castle e#tra(a)ana2 7hat a )reat wee2 ;ou will be able to see (ideo testimonials on my site (ery soon+ 8ecently added to the front &a)e a sam&le of the (ideo mentor section of the seminar+ ha(e been ased when the ne#t weelon) castle seminar will be and don!t now at this =uncture+ Please email Paul of your interestH &+morrisY)uthriecastle+com 7hilst )oin) throu)h final &re&arations for the seminar =ust com&leted came across the fa# sent &artners in II+ t is an e#tremely effecti(e and &owerful messa)e, so decided to send it out a)ain2 t is as )ermane now as it was when wrote it+ wish you all a&&y olidays and an awesome 3112
T$ D$%r F%nt%m Le& 8nie S 7e: Sr
76 7%% '%% .6 M6'S<86D 76N 76!86 94N62 47 7%% ;4< ST'ND uisition a month, for three years2 's most of you now, he )rew a )reat con)lomerate by buyin) re(enue then o&eratin) &rofitably+ @Sound familiar*A e currently sits on se(eral .oards with me and acti(ely &artici&ates [ at almost 1 years of a)e+ 7hen taled to him about his belo(ed wife and my role model, surro)ate mother, mother, was stunned at what he had to sayH i+e+ as a family famil y want to than you for your friendshi& and lo(e: thans that all you!(e done for our family o(er the years: thans for the su&&ort and allowin) us to &artici&ate with your family and in business+ e went on and on with com&liments2 was shoced because felt had done ne#t to nothin)+ e and his wife had done almost all the )i(in)2 had mostly taen, or so thou)ht+ 7hat he didn!t say, as some of you ha(e heard him say, many times, he new what would accom&lish the first time he e(er met me+ e says he new would sur&ass his success many times and ne(er loo bac+ Some of you ha(e heard me say the same+ 's life @and a lot of hard wor and many difficult timesA would ha(e it he was correct+ modeled what he and others did correctly+ correctly+ .ut mostly did what he said, when he said [ not always )ettin) the result wanted, but still always learnin)+ %istenin) and always learnin) as Constentine 9ratsos @another mentorA used to tell me often+ 't the end of our con(ersation (i(idly remembered that countless times the only thin) that e&t me )oin) was merely that fact that he told me would be more successful than he, in a ma=or lea)ue way2 The only thin) had was the memory of his confident words2 is e#&ectations for me were hi)her than mine+ @Sound familiar*A 8ecently was )i(en the attached &oem to reflect u&on+ 'S read it was reminded by the (arious &hases of my life, my &arents &arents li(es and my second second &arents li(es @Mr+ @Mr+ L Mrs+ 4rmondA+ 4rmondA+ slso reflected on ?im Newman!s life, @another mentorA that &assed away on J th ?uly II+ 'S you read it you will &robably do the same+ Thin ahead, ahead, to see if what you will see will mae you ha&&y+ ha&&y+ Perha&s it will mae others ha&&y [ but will it "$% ha&&y* ;ou are the im&ortant one2 .6 truthful with yourself+ 7e all en)a)e, or ha(e en)a)ed in acti(ities that we wished we didn!t [ or are not &roud of2 ;et we re&eat these actions2 7hy* 7hy is it easier to do non-&roducti(e stuff* 7hy is it easier to do thin)s that are bad for us*
%ife is a series of mistaes2 Don!t sto& main) them2 now still mae a lot of them2 !(e made some rather lar)e ones recently, but don!t sto& tryin)+ n fact it!s easier to admit mistaes now at 0G+ Many of you thin !m hard+ was much less for)i(in) 31 years a)o, yet still &ush the hardest on the ones with the most un>ualified &otential+ To 4ur $% Dan + P+S+ !(e =ust )ot off the &hone from )uy ha(e nown since Se&tember I0+ 7e taled about our G0 th i)h School re-union in two wees+ 7e taled about our successes, successes, sic &arents and friends that had died+ e waited til 01 to marry and is in )reat sha&e and said he re)retted not )oin) to 4CS @ 4fficers Candidate SchoolA with me durin) the 5ietnam 7ar in I, we had =oined the 'rmy with another friend on the buddy @&alA &lan+ e said we were lucy not to )et hurt durin) that tra)ic &eriod+ a)reed2 7ith all his success he focused on health and what he didn!t do in I+ 4ur bac)rounds are similar, e#ce&t 4CS+ e said he lo(ed me and would see me at the re-union if his Dad!s health stayed o+ 6 &robably won!t )o2 7hy* 7hen he said he lo(ed me and remembered 1 th 'u)ust was my 0G rd birthday, birthday, he called me an old fart+ 7e were @areA lie brothers, yet ha(en!t seen him since his weddin) 3` years a)o+ 7hen he said the word lo(e had flashes of the few times wanted, or should, ha(e said it @lo(eA and didn!t+ cried when he hun) u& because didn!t say it bac+ rationalied to myself that, at least did call him [ .+S+22 will always re)ret these emotional shortfalls+ t!s my shortest suit2 am a &roduct of my socio and economic milieu+ 7e 7e all are2 ' few days a)o told my eldest son, Dan ?r+ that was &roud of him and that lo(ed him and would die for him2 e said, now Dad2 now2 ho&e h does, because would2 These re)rets !(e described, for me, are emotional in nature, but all tae some sort of &hysical action [ o&enin) the mouth and talin) etc2 Sounds easy+ N42 f it were only easy2 ;ou all now what mean2 The re)rets you ha(e when your time comes @now and laterA will be emotional as well, but manifested by lac of action+ No different2 different2 The difficulty in the $%' &ro)ram is it always taes some sort of &ro-acti(e action2 $%' can!t wor on bein) re-acti(e+ The most successful call as many as 1 or 31 times ti mes to )et a res&onse [ any res&onse2 They &ractice &ractice until they )et results [ not until it!s &erfect2 's !(e outlined briefly, briefly, too ha(e re)rets =ust lie you+ My M y emotional riss are =ust as hard to co&e with as yours+ Many of you may find this difficult to belie(e+ share this with you to illustrate we all ha(e emotional ban accounts, and all are short in some res&ect or another+ am more aware of this than most+ 6s&ecially since became a coach+ The hi)h &erformance &erson learns to co&e and e &roacti(e, the rest don!t2 They blame it on someone or somethin) else and ne(er tae res&onsibility+ P+P+S+ For me it!s easier to tae No from financial institutions than say care, or how feel+ To some this is a tremendous stren)th+ To To me it has been a re)ret ha(e only recently ha(e dili)ently wored on2 will continue to be hard on you and myself for more em&athy+ Cr00it O ,$mn
7hat do you see, nurses, what do you see* 7hat are you thinin) when you loo at me* ' crabbit old woman, not (ery wise+
7ho dribbles her food and maes no re&ly 7hen you say in a loud (oice, do wish you!d try2 7ho seems not to notice the thin)s that you do 'nd fore(er is losin) stoc or shoe, 7ho, unresistin) or not, lets you do as you will, 7ith bathin) and feedin) the lon) day to fill+ s that what you!re thinin)* s that what you see* Then o&en your eyes+ ;ou!re looin) at me+ !ll tell you who am, as sit so still, 's mo(e at your biddin), as eat at your will+ !m a small child of ten with a father and a mother, .rothers and sisters who lo(e one another, ' youn) )irl of si#teen with win)s on her feet, Dreamin) soon a lo(er she!ll meet+ ' bride soon at twenty, my heart )i(es a lea&, 8ememberin) the (ows &romise to ee&+ 't twenty fi(e ha(e a youn) son of my own, 7ho needs me to build a secure and ha&&y home+ ' woman of thirty, my youn) now )row fast, .ound to each other with ties that should last, 't forty my youn) will now soon be )one, .ut my man stays beside me to see don!t mourn, 't fifty, once more babies &lay around my nee, ')ain we now children, my lo(ed ones and me, Dar days are u&on me, my husband is dead, loo to the future, shudder with dread, For my youn) are all busy with youn) of their own, 'nd thin of the years and lo(e ha(e nown, !m an old woman and nature is cruel KTis her =est to mae old a)e loo lie a fool+ The body it crumbles, )race and (i)or do de&art, 'nd now there is a stone where once had a heart, .ut inside this old carcass, a youn) )irl still dwells, 'nd now and a)ain my battered heart swells+ remember the =oys, remember the &ain+ 'nd !m lo(in) and li(in) life o(er a)ain, thin of the years, all too few, )one too fast,
acce&t the star fact that nothin) can last, Do o&en your eyes nurse, o&en and see, Not a crabbit old womanU%44B C%4S68US66 M6+ Found amoun) the &ossessions of an old rish %ady after she had died in a 9eriatric os&ital and re&rinted with thans to ?ohn 4!Dea of 9oatacre ouse+ ' lesson to us all+
ISSUE #.> Jth'&ril 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
t!s been some months since my last newsletter+ ha(e been busy worin) on my new )oals set on my last birthday+ am s&endin) about 1 of the time on the road on both sides of the )lobe+ ha(e taen on additional mentee and 3 ha(e )one the way of the bu))y whi& for (arious reasons+ The mentee &ro)ram is still worin) well and that with the 9uthrie 9rou&!s business ha(e more than a full &late+ 7hilst on my recent tri& to 6uro&e and the
4n the housin) front starts are slowin) down+ ouse in(entories are increasin) to o(er load status+ nterest rates continue to rise+ Mort)a)e le(els are at all time hi)hs+ The ratios of &ersonal income to housin) mort)a)es are se(erely hi)her than they ha(e been in the last 31 years+ The dot com bust is o(er and the stoc marets are boomin) almost e(erywhere+ Multi&les are at 0 year hi)hs+ @'nd remember also said in early 311, 7hat if the marets had a 1 correction*A+ Mer)ers and ac>uisition acti(ity is at record le(els+ Pri(ate e>uity and (enture ca&ital are raisin) more money than anytime before+ ed)e funds, accordin) to many, ha(e re&laced (enture ca&ital money as the leadin) force for sha&in) the future of bi) ca& &ublic com&anies+ .rics and mortar com&anies are bac in (o)ue+ The old sto)y steel com&anies are main) money hand o(er fist+ could )o on and on2 can only )uess what your stoc broers and &ro&erty a)ents are tellin) you2 Most are &robably sayin) you better =um& on before you miss the entire bull mo(e+ 6nou)h on the state of the world2 My second edition of ;our First undred Million @really Grd edition countin) .uild ;our 4wn 9uthrieA will come out later this year with u& many dates and a s&ecial cha&ter by mentees+ My ne#t castle seminar will be from 0th [ 33nd ?uly 311+ 6mail Paul at, &+morrisY)uthriecastle+com for more information or )o to htt&H//www+dan&ena+com/docs/newday>la+html to see the schedule of e(ents+ The last castle e(ent was terrific as indicated by (ideo cli&s from se(eral attendees that can be found atH htt&H//www+dan&ena+com/docs/Seminar31cli&s+htm+ 's said in my birthday newsletters would ee& you a&&rised of my new health re)imenH 7ith in a few wees of me startin) benched &ressed G11 &ounds a)ain: and now ha(e lost 31 &ounds+ 7here it only too me a few wees to do the G11 it too months to lose 31+ The bottom line is eat much more healthy and less at ni)ht than did for G1 years+ My family is all doin) (ery well2 'nd my father continues to amae &eo&le at almost thou)h he has slowed down considerably+ To ;our $uantum %ea&, Dan Peña P+S+ f you!re wonderin) what the economic im&act of what ha(e written abo(e is you!re in the ma=ority+ .ottom line is, follow those that ha(e li(ed throu)h se(eral cycles and be careful+ Nothin) last fore(er and ne(er under estimate how wron) you can be2
ISSUE #.5 Ith 'u)ust 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
ha(en!t written since last '&ril, when taled about the stoc maret and commodity &rices+ ho&e some of you too note2 'll the &undits ha(e come u& with )reat reasons to describe what ha&&ened+ ho&e you benefited from my thou)hts+ 7ell here we are and am year into my new )oals for my 1!s2 'nd in the s&irit of candor can say ha(e made a )reat start on the 1 year &lan: or as soon as humanly &ossible &lan2 There ha(e been many chan)es in my life and almost all of them ha(e been )ood with some e#ce&tionally )reat and am &roud to say a cou&le ha(e been tremendously e#traordinary2 can only wish you ha(e had a terrific year yoursel(es+
H$i" vs ,$r Crisis!
's sit here in an 'sian country thin about the last head lines read before lea(in) the > Der O 9t/ers S$n!
Now here is a story that should ha(e recei(ed more co(era)e than &ost&onin) a holiday for G days2 This story was on the front &a)e of the &a&er today here in ndia - year old )uy fathered a son+ 's )reat as the story is, it )ets better+ This dude @and can only ima)ine he is also a studA had tried for o(er 1 years to ha(e a son+ is first wife was baron and she arran)ed for him to marry his second wife+ The second wife )a(e him a dau)hter and died at J0+ The first wife arran)ed yet for a third wife J0 years his =unior and after many years of tryin) &roduced him a son+ 'ctually it was twin sons but one was still born+ This man wals 1 [ G0 ilometers a day as a herder+ e drins u& to G litres of raw )oat!s mil each day he can remember since a child+ e doesn!t smoe or drin @it would ha(e been better if he hadA, and till his son!s birth had no desire to li(e to 11+ .ut now he wants to continue to ha(e children+ e says it is 9od!s will2 'nd since he has se# e(ery ni)ht he &reys he will ha(e more+ 'nd he says 3 [ J am is his fa(orite time for this natural by &roduct of life2 My only thou)ht is he may ha(e to )et yet a Jth wife since she current one is GG+ Now this true story is wrou)ht with se(eral $%' &rece&ts, but will only mention the ob(ious and fun onesH Can!t hit a home run unless you are u& to bat: Can!t score @&un intendedA unless you are swin)in) away: Can!t e(er )i(e u& and must do))edly &reser(er no matter what: Common consensus is almost always wron): 'nd last but not least, e(en your first wife can be your real friend2 To ;our $uantum %ea&, Dan Peña 7S <" ,e0 Site
's many of you ha(e noticed my site has been not functionin) for many wees+ The stories of why are not im&ortant, but now ha(e my own web master who is hi)hly >ualified and e#tremely attenti(e to the needs of my sites+ The messa)e board is functional a)ain and ho&efully will be used by those who fre>uent my site+ t has been redesi)ned and cleared of old data, but your &ersonal info has been e&t+ t is now also easier to si)n on+ f you ha(e any su))estions send them to ste(enY)uthriecastle+com+ 77S Cste Seminr
Do to my schedule will )i(e the only castle seminar of 311, Grd [ Ith December+ t will be the
same material in a more com&act time frame+ ence, it will be 9.P \,I01 instead of 9.P \1,111, &lus (at of +0 @reco(erable to mostA+ ' cou&le of my &artners ha(e already shown interest in comin) a)ain, so it should be another e#traordinary )rou&2 ;ou can clic here to hear testimonials of the last attendees htt&H//www+dan&ena+com/docs/Seminar31cli&s+htm+
ISSUE #4* 3th 4ctober 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"
ho&e you ha(e all been well2 am worin) hard and accom&lishin) a lot+ 'nd sincerely wish you are doin) the same2 B$$m - B%st
n '&ril 311 wrote in my news letterH 4n March 31, 8ichard 8ussell, a Dow theorist, claimed after the 3G-&oint decline of the Dow the end of the I-year @really 33G monthsA bull maret+ More im&ortantly @if trueA, he claimed the bear maret reco(ery would tae one->uarter to one-third the len)th of the bull maret+ ;ou do the matchH /J or 33G or /G of 33G2 also wrote durin) this time of crisis there would be )reat o&&ortunities2 7ho too ad(anta)e of them in the last &lus years* More about that further onU f you do the calculations /J of 33G is 00+0 months and /G of 33G is G+ months+ 'nd G+ months is a little o(er yrs since the maret colla&se that saw most indices dro& J1 [ 1+ s 8ussell a )enius* Maybe, but that!s not really the &oint+ ere we sit a little o(er years later and we read in the 7all Street ?ournal last weeH B$$m!
M'8B6T '%68T from The 7all Street ?ournal+ 4ct+ G, 311 The Dow ?ones ndustrial '(era)e set a record closin) hi)h, finishin) at ,3+GJ, ecli&sin) a mar set bac in ?anuary of 3111 durin) the hei)ht of the technolo)y boom+ B%st
6(en in these times of )reat stoc maret boom there are times of )reat bust2 's you read the lins below you will see notwithstandin) the new maret hi)hs the internet )amblin) stocs ha(e colla&sed due to inter(ention by the <+S+ 9o(ernment+ t will always be somethin) and it is not necessary to as why* 7hat smart &eo&le are doin) now is looin) for the o&&ortunities+ 7hen one door closes another o&ens+ 7e must loo for them2 News results for internet )amblin) - 5iew today!s to& stories Con)ress a&&ro(es nternet )amblin) ban bill - 8euters+u - 3 hours a)o 94P aims to crac down on 7eb )amblin)-
7hilst in a hotel room started readin) my files and a recent 4ctober Fortune ma)aine issue+ The co(er is titled C'4S Y 9449%62 t has a number of e#cellent articles on Mana)in) on the 6d)e+
%ie the article, as ha(e said since IIG when embared on coachin) the bi))est o&&ortunities come from where the most chaos e#ists+ n con=unction with this notion, always &ut your best &eo&le on the bi))est o&&ortunity [ not the bi))est &roblems+ This Fortune issue could ha(e been written by me2 hi)hly recommend it for all of you+ Bee& it in your &ermanent readin) file alon) with other $%' readin) material+ ere is the lin to the feature articleH htt&H//money+cnn+com/ma)aines/fortune/fortunegarchi(e/311/1/13/GJI/inde#+htm T/e Net B%st
N67S '%68T from The 7all Street ?ournal 4ct+ 1, 311 The De&artment of ?ustice has be)un an informal in>uiry into &otentially anticom&etiti(e beha(ior amon) some of the world!s leadin) &ri(ate-e>uity funds+ nformation and documents related to deals and business &ractices ha(e been re>uested+ That!s it for now+ ha(e to )et bac to wor+ To ;our $uantum %ea&, Dan Peña P+S+ f today was a test how would you )rade yourself* 7hat about the last years* P+P+S+ Due to inconsiderate misuse and s&ammers ha(e ceased my messa)e board infinitely+ am (ery cha)rinned to ha(e to tae this action+ Many thans for your &re(ious su&&ort2
ISSUE #41 3th ?anuary 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr" HA77D NE, DEA'!
t is not where you start, it is where and how you finish2 t!s another year )one by and where are we as indi(iduals* For the wea of heart and stomach you should sto& readin) now2 8I8 DOU 7ASS O' 9AIL
f you were to )rade yourself what would you )i(e yourself for the year =ust ended* 7hat would )i(e you as a )rade* 7hat would your best friend )i(e as a )rade, if you ased them to be candidly honest with you, no bars held* 're you in the to& 30* 1* 3* 4r are you li(in) a life of >uiet des&eration* 're you ali(e or really dead* .ein) in a rut is bein) in a coffin with the ends noced out2 ow many of you s&ent last year doin) the same thin)s o(er and o(er a)ain and e#&ectin) different results* ;ou wasted all last year: if you learned nothin) from s&endin) that time, if you didn!t learn anythin)2 7hy*
A'E DOU A 7LADE'
Do you consider yourself a hi)h &erformance indi(idual* 7hy* 7hy not* 7rite down your answer in detail+ Bee& it throu)h the comin) year and refer bac to it weely2 'SB M; S6%F these ty&es of >uestions 6568; ?anuary+ 'ND M4ST ;6'8S ran myself &retty damn hi)h, but not all years, because don!t com&are myself a)ainst =ust anybody+ benchmar myself a)ainst other hi)h &erformance indi(iduals+ f listened to the standards of others would ha(e sto&&ed many years a)o+ ha(e often been ased what continues to dri(e me* 7hat dri(es you* 7hat )ets you )oin) each day* 4r do you )et )oin)* 's ha(e )rown older ha(e reduced my e#&ectations of others based on o(er G0 years of e#&erience+ t!s not that ha(e )i(en u& on humanity, but now a&&reciate more than e(er you must &ic your choices (ery carefully and su&er success is certainly not for e(eryone2 7hen started coachin) in IIG and till II/ was in(ol(ed with more than 01 com&anies at a time+ Now am in(ol(ed with a mere handful+ 7hy* .ecause you need to be focused and you can!t focus on the many+ i)h &erformance &eo&le focus on the few, not the many2 f you ha(e 0, , I, 1 businesses you are in(ol(ed with, you!re &robably, if not failin), certainly not accom&lishin) what you could if you were more focused+ 's ha(e said in my seminars and all &ublished material, it is e(en more a&&arent to me now than it e(er was in my (ery lon) career, su&er success is not for the lame of heart, or wea2 'nd now after G0 years, now it is (ery difficult for most to achie(e the success often taled about in my seminars, no matter how hard &eo&le try+ 7hy* %ac of focus2 %ac of commitment2 4h there are always reasons: my mort)a)e @a real lau)h nowA, ids, in laws, no time, my =ob and could )o on and on2 n most cases it is you are not hun)ry enou)h or you!re in your comfort one2 .ut the )ood news is we '%% can mae our life better if only &art of the $%' &rece&ts are focused u&on+ For e#am&le, what if we only followed thin)s we were really &assionate about and let the others )o* .y definition you would be more focused+ 6r)o, you would be committed to only thin)s you really lie doin) and will )et )eometrically more done o(er a career2 7hat if you didn!t s&end time on thin)s you can!t chan)e* 7hat if you didn!t &rocrastinate* 'nd this is a (ery .9 one2 n line with this one, what if we made the tou)h decisions first and not last, if at all* 'nd what if you only followed your dream* n the years )one by ha(e dili)ently e&t my standards hi)her than almost e(eryone now+ 'nd in recent years, since started coachin), it has been es&ecially hard to )et business &artners to a&&ly tou)her standards to themsel(es, let alone their em&loyees and their &artners+ 7hy* 7e all want to be lied and thou)ht well of and we mistaenly confuse bein) lied with res&ect and follow throu)h in business+ ha(e &ersonally had the same difficulty a&&lyin) these &rece&ts to my own children+ t is hard to belie(e ha(e children of 3, 3J, and 3 now+ 4ne a&&ears to want a life in business and is &ursuin) his M.'+ The others ha(e different ideas about life and are &ursuin) much different interests than + 4f course want the (ery best for each one and try and su&&ort their efforts+ 's a &arent this is not always easy2 4f course for those of you that are &arents you understand e#actly
what mean+ LAST NE,S LETTE'
' lot has trans&ired since my last news letter+ ha(e not written because there was not news worthy stuff2 ha(e not written because am merely too damn busy to write2 t!s hard to belie(e at a)e 3 can be as busy as am+ ha(e been on the road li(in) in hotels and rental houses almost all 311+ 's be)in writin) this letter am in Manila ostensibly fi)htin) off den)ue fe(er, a&&arently cau)ht in Macao, China+ @My uad of )uys and a cab dri(er demandin) &ay a bill for him tain) my )rou& to dinner earlier that e(enin)+ had told him and the hotel mana)er would not succumb to them attem&tin) to ri& me off for ser(ices not rendered: a hotel Mercedes car tain) us to dinner and bac+ nstead they too us in a Chinese made car that was a cab+ told them to f off and they could tae me to =ail and wanted to s&ea to someone that could s&ea 6n)lish+ The cab dri(er had already attem&ted to tae us to another restaurant and showed us his brother!s &olice bad)e+ told him to f off as well2 t was a classic shae down2 7hat made it e(en better, the cab dri(er had )rabbed my collea)ue and &ulled him off, whilst was on my crutches @oh ya ri&&ed my meniscus in my left nee whilst &um&in) le) &resses of J11 &ounds+ The docs say my hea(y le) lifts are a thin) of the &ast2A The story is much lon)er, but mention it here to mae a &oint+ Most &eo&le would ha(e &aid the cab so the &roblem would )o away+ t wasn!t a lot of money+ can tell you ?ac 7elsh, Donald Trum&, nor 8oss Perot would not ha(e &aid+ now Perot is older than most that read this letter, but he may ha(e been willin) to do e(en more than )o to =ail, as was+ The &oint is sim&leH at 3 with a torn meniscus in my left nee and on crutches - was not willin) to do what was con(entional wisdom2 had trained my comfort one to be ready for e#tra stress a (ery lon) time a)o+ had trained my mind to belie(e with all my heart - with no sacrifice there is no (ictory2 Needless to say was &retty irritated at the time and was ready to do what was needed+ n candor, at 3 with a bum le), mi)ht ha(e )otten hurt since the 0 co&s had )uns and clubs+ .ut was ready to do what e(er was re>uired2 Some who witnessed the e(ent in the hall in front of my room said was raisin) my (oice+ Franly dont remember that+ 'll remember was &uttin) my hands in front of me and sayin) - tae me to f!in) =ail, but am not &ayin) this e#tortion2 said, &ut it on my bill lie all the other cars ha(e rented whilst here+ 7hy won!t you want to &ut it on my bill* 7hy* .ecause you are tryin) to e#tort me2 The ne#t mornin) there was no related car bill on my final account+ am writin) you this tale to illustrate a (ery sim&le &oint: ha(e trained myself to do thin)s others find difficult+ Many of you that ha(e nown me o(er a lon) time now am not lie most &eo&le and there is not much fear, but as id was a mamas boy and was afraid of my own shadow2 's )rew new didn!t want to be afraid and be)an to stretch my comfort one, thou)h didn!t
now it then+ .ut if you want to chan)e you need to start N472 ;ou don!t ha(e to be willin) to confront Chinese co&s to be successful, if you follow $%' &rece&ts+ am sure the co&s were not &art of the attem&ted e#tortion, as am sure the hotel em&loyees and ta#i dri(er were+ The )uy at the concier)e des and doorman that &ut us in the car all new what was )oin) on+ ,HD NO NE,S LETTE'S
ha(e been so busy the last cou&le of years that ha(en!t e(en )i(en any seminars since Dec K10+ f you remember and read my news letters in 3110 set u& new )oals for my self to abide by in my 1!s+ The best read you can ha(e lies in my old news letters2 'nd they are all still F8662 's much as en=oy seminars ha(e been forced to cancel the last cou&le and return all money, due to my schedule+ 's has been written ha(e been s&endin) a lot of time in 'sia since late 311J+ n fact, as wrote abo(e, =ust ended a &rolon)ed tri& to China o(er Christmas and New ;ear (isitin) .ei=in), Shan)hai, on) Bon) and Macao+ The "Forbidden City" and the "9reat 7all" were )reat but, call me old fashioned, en=oyed on) Bon) and Macao more+ This tri& was taced onto to an e#tended tri& throu)h Oimbabwe, South 'frica, Mauritius, ndia, .an)ladesh, Monaco, France, Panama, .rail, Canada and the FLA CASTLE SE
's you &robably now, am )i(in) a seminar after a lon) lay off+ t will follow the old day format that made infamous startin) bac to IIG+ am looin) forward to this seminar and showin) all the u&dated information+ Chan)e is e(en more im&ortant than it was a few years a)o+ Chan)e a)ents ha(e become common &lace in the 3 st century+ 'da&tin) to those chan)es and understandin) how it affects you and your dream is absolutely critical2 S&eain) of chan)e, as wor on this letter 4bama and ucabee ha(e won the owa caucus+ Then Clinton and McCain won New am&shire and the results are now in on Ne(ada and South Carolina+ The (oters there are &lainly sayin) they want somethin) (ery different than they ha(e recei(ed in the &ast+ ow many would ha(e e(er thou)ht a blac =unior senator and a .a&tist minister e# )o(ernor would be at the head of the democrats and re&ublicans, res&ectfully, a few months a)o* @4f course that has chan)ed since started writin) this letter+A 'nd then on the bac of this mandate the (oters more or less re(ersed themsel(es )oin) bac to more of the norm with McCain and Clinton+ &ersonally lie McCain a lot2 e is a real 'merican hero in a world of false and shallow &eo&le+ e certainly is a $%' man if there e(er has been+ ow many of us @me includedA would ha(e )one throu)h 0+0 years in a &rison cam& bein) beaten and tortured, when they could ha(e been released+ Senator McCain, then a na(y &ilot, was also son of an admiral in char)e of na(al o&erations for the Pacific durin) the 5ietnam 7ar+ 4n many occasions he was offered release and refused till all men
were released, who were ca&tured before him+ This was and still is the honorable thin) to do under the Military Code of ?ustice+ ence, he was one of the last to be released at the end of the 5ietnam conflict in IG+ Now don!t )et me wron)2 McCain has made &lenty of mistaes lie we all ha(e+ 'fter all he is human+ .ut he has been in the eye of the ti)er and find it remarable at he has the ener)y and commitment to want to lead the
7e need &eo&le more now than e(er to lead us all o(er the world+ Chan)e a)ents are not new+ ;et e(ery time read about the new wa(e am sur&rised+ ha(e studied the li(es of many chan)e a)ents o(er the years+ Their names are too numerous to list here+ .ut what they all had in common was they wanted somethin), some out side the status >uo: out side the bo#: outside the con(entional comfort one: and they followed their dream with &assion and laser beam focus2 's you measure yourself and your efforts, as what did you do outside your comfort one last year* 7hat did you do that was criticied and made fun of last year* 'nd am not talin) about hittin) a 3 iron o(er the water, instead of )oin) with a 0 wood you hit more comfortably2 i)h &erformance e#ercise that should mae you uncomfortable+ 7hat did you do in 311* + 8iss taen+ a+ 8iss not taen+ 3+ 8elationshi&s started+ 3a+ 8elationshi&s ended+ G+ Successes, &ersonal and business+ Ga+ Failures, &ersonal and business+ J+ 9oals+ Ja+ 311 9oals accom&lished+ 0+ Fun time+ 0a+ Cra& time+ + Time s&ent daily on &hone a+ Time s&ent on PC+ + Time s&ent in meetin)s+
a+ Time s&ent e#ercisin)+ + Time s&ent closin) deals+ a+ Time s&ent tryin) to sa(e deals+ I+ Time s&ent in bed+ Ia+ Time s&ent ha(in) se#+ 1+ Time s&ent with family+ 1a+ Time s&ent alone + Time dreamin)+ a+ Time doin) the same cra& 'fter doin) this e#ercise tae all G tests on my siteHhtt&H//www+dan&ena+com/docs/success+&h& The results of my G tests and the abo(e will tell you where you ha(e been in the last year and how you thin (ies-a-(ie, success, &essimism and bein) an o&timist lie (irtually all hi)h &erformance &eo&le are+ Do this e#ercise at you own &eril2 This $%' seminar will be my first to address other traits of hi)h &erformance &eo&le, includin) health+ 's a &art of )ettin) older am more concerned with my health, notwithstandin) my family seem to li(e into there late 1!s and I1!s+ had lunch with my almost I1 Dad2 am &leased to say we will ha(e a section on the health of hi)h &erformance &eo&le+This 3 hour bloc will be headed by Dr 'llen Peters+ e is a doctor with J1 years e#&erience+ e is teamed with his nutritionist wife with 30 years e#&erience to form our "first e#ecuti(e health section" in a $%' seminar+ ha(e =ust =oined their &ro)ram myself+ This isn!t a M%M or anythin) lie it+ Thou)h they ha(e not had ade>uate time with me, only 3 months, belie(e (ery stron)ly in what they ha(e already accom&lished with me+ already feel better2 To read more clic hereH " htt&H//www+nourishin)wellness+com/" or www+healthya)in)doc+com + Clic here for more information on Dr+ 'llen and his wife + n addition a $%' mentee and former business &artner will be &resent to tal about his e#&eriences+Tony 7ard is a Chartered 'ccountant in Dublin and a )reat )uy+ e has o(ercome his blindness and in resent years has &artici&ated in Para 4lym&ic e(ents+ e is a &hysical and mental &henomenon+ e started his athletic career when he was G0+ e now re&resents reland+ e is a $%' de(otee datin) bac to II+ 'nd if his schedule doesn!t chan)e will ha(e a mystery $%' business &artner attendin) the entire seminar, because he ne(er tires from learnin) more $%'+ This will be his 0th time2 e is to& in his field world wide+ e heard me s&ea first at a 8on %e9rand @another $%' de(otee and former &artnerA seminar in the mid I1!s+ e e&t tryin) @swin)in) at the &lateA till he hit it for @a )rand slam home runA2
THE
ha(e written and said in my seminars since 3111 the world would ha(e to &ay the &i&er (ies-a-(ie the massi(e debt we had been buildin) since 773+ %ate last summer we saw the ti& of the ice ber)+ Now months later many com&anies ha(e )one into forced mer)ers, or sim&le buy outs, or )one under+ Many C64!s are now )one from there e#tremely hi)h &aid =obs+ There are )o(ernment &anels looin) into - what the f ha&&ened* 'nd there are fin)ers bein) &ointed bac and forth+ a(in) been throu)h a few cycles it ne(er ceases to amae me how no one e(er seems to learn from the last cycle and that )reed seems to e(entually ill them off2 write this with some amaement2 7hy* .ecause am not the only &erson that has been sayin) the end would come to the easy money+ 'nd it would cause a tremendous tra)edy to business but more im&ortantly to the common man+ The bi) difference is all who were &redictin) the colla&se were not collectin) fees and commissions sellin) (arious and sundry debt &roducts+ Notwithstandin) my &rediction comin) true am sad to see how badly our )o(ernment and financial institutions can )et it so (ery wron)+ 'nd as of the last few days the marets around the world are )oin) down at an incredible rate+ t is fairly clear we are most assuredly in a recession+ Not sayin) we are in a recession does not ee& us from bein) in one+ am not )oin) to claim the real estate bust brou)ht on the recession, but it certainly didn!t hel&+ This real estate bust will tae a few years to iron out, =ust as the tech bubble too / years to mae its come bac+ Most &eo&le )et a))ressi(e with their in(estment &lans =ust at the incorrect time+ t!s called )reed and stu&idity2 ;ou see others &rofitin) and your not+ t!s human nature and a lac of e#&erience+ 's ha(e said for many years 6'%T C'86 'ND T6%6C4MS@NT68N6TA are the wa(e of the future (ies-a-(ie o&&ortunities to chan)e your life2 'IS+S NOT TA+EN
There was an interestin) closin) of a mo(ie saw on a &lane recently+ t was interestin) to me because ha(e been sayin) this for many years+ The star of the mo(ie said to his &artner about =um&in) into the worm hole to the future - what will you tell your )rand ids 01 years from now you didn!t want to tae the ris2 's ha(e said for many years it!s the riss you didn!t tae that you re)ret when your time comes to meet you maer+ ha(e buried a few &eo&le in recent years and the story is always the same2 t!s the thin)s you didn!t do that you re)ret2 Not the thin)s you did2 ?
ISSUE #42 th March 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr" Cste Seminr %st c$m&ete!
7ell the last castle e(ent was better than any that came before2 'nd now that is hard to belie(e considerin) the seminars that ha(e been )i(en at 9uthrie Castle since the mid I1!s2 7e had a &articularly di(erse )rou& with attendees comin) from: Panama, 8omania, 6n)land, uantum lea& ha(in) already made a &hysical one2 To see some of the )raduation ni)ht testimonials - "Clic ere+" ;es the )uys are wearin) ilts and no don!t now if they were wearin) anythin) under them+ went to slee& at am but some stayed u& in the newly decorated snooer room and &layed (ideo )ames and snooer till 0am+ had such a )reat time beatin) the attendees in our new E+0 million &a(ilion facility, am ha(in) another Castle 6#tra(a)ana th [ 33nd No(ember this year+ 7e already ha(e attendees si)ned u& and at least of the recent attendees will return for a th ti me+ The section on ' ealthy %ife Style for the i)h Performance Person was (ery well recei(ed+ Dr Peters and his lo(ely dietician wife ?eanne did a terrific =ob and dished out some amain) information+ 4f course they are the team that has done some )reat wor on me in the last G monthsH wei)ht down 33 &ounds: blood &ressure down: cholesterol down: and other (itals headed where they should be for a G1 year old2 ;ou read correctly a G1 year old+ 'wesome2 More later as we )et closer to the ne#t e(ent in No(ember+ To ;our $uantum %ea&, Dan Peña P+S+ ha(e decided to write another boo, or should say u&date ;our First undred Million+ P+P+S+ 's said at the Castle Seminar low interest rates and a colla&sin) real estate maret mae for massi(e o&&ortunities+
ISSUE #4) FUANTU< LEA7 A8VANTAGEP NT68N6T N67S%6TT68 SS<6 J 3th Se&tember 311 From Dan Peña [ 6#ecuti(e Coach and Mentor to the i)h Performer+ 8er Hi/ 7erf$rmnce 7ers$n n Visi$nr"M C&itism $n t/e " %&! S$ciism $n t/e " $n! D$% $n" et /%rt $n r$er c$ster
/en "$% et $ff in t/e mie $f t/e rie! Des I 6n$ it fees i6e e /ve $ne $ff t/e ris 0%t e /ven(t! St" $n! ,e cn vert 8e&ressi$n if e ct inteient"! 7rise t/e L$r n &ss t/e mm%niti$n! It is finnci ,A' it/ $%t t/e %ns f$r n$!
ne(er new how much )ood my trainin) as an infantry officer at Fort .ennin), 9eor)ia,
t could tae a )eneration to fi# this mess2 ,HAT(S NET
' E11 billion bail out from the F6D, which will easily )o o(er a trillion and more+ would l ie to be o&timistic, but when was the last time one of these estimates was e(en close to bein) accurate or truthful* N65682 My seminar in No(ember will address in detail how to tae ad(anta)e of this crisis in your indi(idual business, as did to build a EJJ0 million em&ire in the worse ener)y maret decline in 01 years+ t is unbelie(able to li(e as lon) as ha(e, because if you li(e lon) enou)h you see it all2 ha(e been sayin) for se(eral years: the )iant debt we had world wide would bite us sooner than later: 8eal 6state would e(entually brin) us down because the fantasy of 9od isn!t main) anymore land: the ids now mana)in) most of the money in the world would cause us )reat hardshi&: and the <+S+ 9o(ernment would ha(e to bail us out or )o out of business as we now it2 's many of you now watch CNN, CN.C and other financial news shows all day lon), as answer emails and tal on the &hone, when am not in meetin)s+ The financial roller coaster witnessed recently was remarable+ n two days more than E11 billion @each dayA was wi&ed off the
Now the <+S+ 9o(ernment will bail out the financial system to the tune of E11 billion that is estimated to run easily well o(er a trillion dollars+ 7hat a absolute catastro&hic total meltdown2 These are un&recedented actions to say the least2 t maes the I crash and dot com fiasco loo mild2 's ha(e said for many years cash is a better alternati(e for most &eo&le, because they don!t understand what ris they are tain)+ For e#am&le, money maret funds are not insured, contrary to what &eo&le may ha(e thou)ht+ This is only one small e#am&le of how ris assessment is not understood+ Most &eo&le outside the financial centers of the world =ust don!t a&&reciate how close the <+S+ financial model came to total colla&se and mayhem2 For many years ha(e told &eo&le nothin) )oes in one direction fore(er2 Many of you made, on &a&er, tons of money in real estate and the stoc maret, continuin) to le(era)e u& )ettin) bi))er and more e#&ense &ro&erties and lar)er stoc &ortfolios+ .ut le(era)e )oes both ways and is a (icious two ed)e nife+ 7hat has e#acerbated the situation e(en more are the countless hed)e funds that use all inds of financial instruments, includin) shortin) the marets to enhance their yields+ Peo&le that should not be in(ol(ed in such dealin)s are u& to their eyes in a bi) way+ These hed)e funds are not re)ulated and (irtually anyone with the minimum in(estment is allowed in the )ame+ This is a reci&e for disaster2 The wee before the financial debacle was &ri(ile)ed to be a ey note s&eaer at a lar)e world wide real estate e#&ositionH www+aireec+com + was the o&enin) s&eaer to )et them =aced u&+ also s&oe 1 minutes on how dealt with buildin) my own em&ire in a colla&sin) maret, but had no idea what would follow the (ery ne#t wee+ was scheduled to s&ea another 1 minutes in the )ra(e yard slot the last day+ My &resentation went 30 minutes, they listened with baited breathe an e#tra 0 minutes, before shut the con(ention down+ t was all filmed and to say was terrific is an understatement+ really en=oyed my self+ t had been a lon) time since s&oe in the uantum lea&s in a colla&sin) maret+ 4f course was &re&ared to do this easily+ 7hat didn!t now or a&&reciate was the (ery ne#t wee the financial world would be in such trouble it would be beyond com&rehension2 ence, my timin) was almost &erfect2 ence, my messa)e was e(en more )ermane the (ery ne#t wee to those that attended+ 4f course those that ha(e read my boo and or attended my seminars now that attainin) si)nificant success is easier by modelin) those who ha(e done it before+ Findin) a mentor who is where you want to be+ This is e(en more im&ortant in these treacherous marets+ There are still countless ways to )et screwed tryin) to attain and fulfill your dreams+ So ha(in) a mentor is e(en more im&ortant now
than e(er2 't the e#&o had a lar)e &ri(ate office to listen to the many attendees from all o(er the world+ 4utside was screamin) on a hu)e screen showin) me doin) a seminar+ For those bra(e enou)h to mae an a&&ointment s&ent time with each and e(ery one that wanted time with me+ heard some (ery sad stories and &eo&le that were looin) for some direction+ heard a few success stories, but they were in the minority+ also heard one &otential suicide story+ Some stories were shocin) how they lost their money, for the second or third time doin) the e#act same thin) as they did the time@sA before+ en=oyed talin) to many &eo&le, but it ne(er ceases to amae me how &eo&le ne(er understand it is not their )enius that made money in a ra)in) bull maret2 They always )i(e little or no reco)nition to the maret conditions+ 'nd they N6568 understand marets mo(e in two directions and nothin) )oes u& for e(er2 N4TN92 N4TN92 's discussed their indi(idual situations, (irtually all new they were in a mess, but few of them emotionally could mae the tou)h decisions )oin) for ward+ ;ou ha(e heard me say we ha(e two ban accounts in lifeH emotional and financial+ 'nd we almost always run out on our emotional side of the &ersonal led)er [ not the financial+ 7e all use our &ositions as a &arent, son/dau)hter, mort)a)e holder, etc, to say we can!t do what e(er is necessary+ 7e use these as e#cuses for not doin) the correct thin) to fulfill our )oals and dreams+ 7e fall &rey to con(entional wisdom and common consensus+ f ha(e done one thin) consistently all my adult life it was to )o a)ainst the )rain+ Most of the time it stood me in )ood stead+ My detractors would &oint out the times was wron), but would not trade my life with anyone who e(er has attended any of my seminars since May IIG2 7e are in a classic suc u& your &anty hose time for the entire world2 7ho &re(ails will de&end on emotional ban accounts )oin) for word+ ,i "$% 0e $ne $f t/e fe t/t &r$s&ers fr$m t/e ne finnci &rmeters 8AN 7ENA 7E'SONAL
s&ent my birthday last month en=oyin) the sun and &layin) )olf with friends2 ;es did wor as well, but not as hard as usual+ t was (ery nice and want to than all of you that acnowled)ed my birthday+ a&&reciated the many nice )estures+ More im&ortantly was with my dad to celebrate his I1th early this month+ e a&&ears to be on his way to many more such days+ certainly ho&e so2 will &ost some &hotos on my site soon+ My new boo, the 3nd edition of ;our First undred Million will be out around Christmas+ t will be u&dated to 311 with new e#am&les and insi)hts+ 'nd since it was ori)inally written for a down maret scenario it is absolutely on ey for &resent maret conditions2 ts cost will be EJ &er co&y+ This insures me you will read it, but more im&ortantly it has the critical information to chan)e your li(es now2 f you want a si)ned co&y notify my office throu)h, ste(enY)uthriecastle+com +
ha(e said for many years you only need three boos to read to achie(e your dreams2 Thin and )row 8ich: 8elease ;our .raes, by my mentor ?im Newman who in(ented the comfort one: and my own ;our First undred Million2 My ids are doin) well+ Derric my youn)est son is a second year M.' candidate and was relatin) how his fellow candidates were in shoc (is-Z-(is the recent financial colla&se+ e told me offers made to the students were bein) cut dramatically and of course ids that were )oin) to %ehman were out of luc+ 4f course Merrill %ynch bein) absorbed by .an of 'merica, amon)st many other situations, means countless =obs will be lost+ 'nd our mort)a)e business is bein) socialied by the F6D+ The world has chan)ed fore(er2 ')ain, )uarantee it2 're you ready* T$ D$%r F%nt%m Le& 8nie S 7e: Sr
P+S+ ')reein), by not sayin) what you really thin or feel, is a massi(e disser(ice to whom you are dealin) with2 'll too often we are in a &osition listenin) to a collea)ue, friend or lo(ed one, and that!s all we do [ listen2 @'nd understand how we are su&&osed to )i(e su&&ort to lo(ed ones, but that is not the &oint here+A 7e ha(e our own thou)hts but we ee& >uite2 7e often now what they are sayin) maes no sense based on our own e#&erience, a)e, wisdom, etc+, but we still say nothin)2 7hy* 7ell, con(entional wisdom tells us to ee& our own o&inions to oursel(es, least we affront the other &erson, etc+ 4r we don!t want to say anythin) that may )i(e the other &erson reason not to lie us, etc+ This is e#tremely common with ids+ They ee& their mouths closed and this is how &eer &ressure can ha(e a (ery detrimental effect on the less (ocal+ ow many times in life do you dutifully listen to someone and say little or nothin)* Countless2 7ell am here to tell you, you do a )eometric disser(ice by allowin) them to belie(e you are su&&ortin) their )oofy idea+ 'nd by bein) silent you )i(e them your tacit a&&ro(al2 This only reinforces fo))y thinin) and does them no )ood whatsoe(er+ n fact in most cases it is harmful2 ?ac 7elsh, ar)uably, the best C64 of the last 01 years says the bi))est draw bac and challen)e in business today is the lac of candor2 e contends, and a)ree, this is our main challen)e to be better mana)ers, leaders and businesses+ e, nor , and many other hi)h &erformance &eo&le could ne(er be accused of lac of candor2 ow about you* PPS had the )reat &leasure of bein) at dinner two ni)hts with a billionaire true (enture ca&italist who made his money before dot com, hed)e funds and fancy financial instruments+ 7hen told him was considerin) not worin) as hard in a few years [ he went nuts2 e told me he still wors se(en days a wee: )ets u& early: has no real hobbies other than his wor: is in(ol(ed in many charities: and has not fi)ured out how to retire2 e is 1 years my senior2 PPS 's this news letter )oes outH 7ashin)ton Mutual )oes down and is absorbed by ?P Mor)an: there is total chaos in 7ashin)ton DC in terms of little a)reement in the E11 billion bail out in the
)o(ernment controls+ 's ha(e &reached for many many years, T4<9 TM6S D4N!T %'STT4<9 P64P%6 D42 'N9 T4<9 'ND P8'S6 T6 %48D 'ND P'SS T6 'MM
ISSUE #4 D$%r 9irst 1**
Get #irst$hand in#o on how to get rich #rom the e0pert who did it #rom scratch8
Tired of your cra&&y, low-&ayin), 3-hour wee =ob and ha(in) to deal with demandin), demeanin) bosses* Do you want to ee& your own hours, be your own boss and lo(e main) a li(in)* Puttin) u& a business you can lo(e and call your own is an ideal way to brea out of the redundancy of bein) &art of the worin) class and is easy enou)h to do with the ri)ht tools, but, main) your (enture a success is another matter+ 4wnin) a business and hittin) )old doesn!t necessarily come hand-in-hand, unless, you do thin)s the Dan Peña way+ .usiness tycoon Daniel S+ Peña, Chairman and Founder of The 9uthrie 9rou& and 9reat 7estern 8esources, nc+ @978A, has lead )lobal and re)ional com&anies and institutions down the &ath of success+ e notably )rew 978 to a who&&in) EJ01,111,111 with a ca&ital of only E31 at the hei)ht of the colla&se of the ener)y industry in the mere &eriod of ei)ht short years+ 7ith an interminable list of credentials tuced under his belt, there!s nobody lie Peña to show ine#&erienced entre&reneurs the ro&es and )i(e new insi)ht to already successful businessmen+ n III, the &erformance coach, u&on demand from his clients, &ublished ?-our 7irst ;22 Million@ illustrating the step ! step QL4 5trategies and Methodologies as a su&&lement to the innumerable noteworthy worsho&s and seminars[ that thousands of entre&reneurs ha(e benefited from+ n '&ril 311I, 9uthrie Castle %td+, &ublished Peña!s second edition of ? -our 7irst ;22 Million@, an u&dated (ersion of the ori)inal that hel&ed launch the careers of millionaires all o(er the world+ Percei(ed as a mentor to many, the boo is Peña!s way of nurturin) start-u& entre&reneurs in their >uest to &ursuit their dream of main) it bi)+ t is a &ath for anyone with no money, but real desire to achie(e a dream to accom&lish the im&ossible2 ?-our 7irst ;22 Million$5econd Edition@ is also an e#tension of Peña!s &o&ular seminars and is
re(ised to fit the chan)es that ha(e ha&&ened in the economic and business communities since the first edition came out+ Strai)htforward and candid, Peña )i(es readers an inside loo into the real dealin)s of cor&orate businesses and how a start-u& entre&reneur needs to thin, feel, train and &re&are in order to mae the first $uantum %ea&, in life and business+ Peña!s o&enin) sentence immediately &romises wealth [ in >uantities so lar)e that you can!t count it [ you!(e )ot to wei)h it and (eers away from the ty&ical )et rich schemes offered by ty&ical entre&reneurial self-hel& boos+ is wor doesn!t sensationalie, and instead, focuses on the not-sosim&le, sometimes harsh, truth+ is anecdotes on )ettin) rich, and most im&ortantly, losin) money awaen his readers to the realities of main) it bi) and stayin) bi)+ t is the &erfect )uide to serious &layers [ from as&irin) businessmen, small to medium-scale entre&reneurs and seasoned (eterans+ 9et rich the real way2 9rab your co&y of ?-our 7irst ;22 Million$5econd Edition@ , now a(ailable
