Getting Rich Is EASY! DAN PENA Motivation

we have teenage multimillionaires flying around in their own jet planes we have kids the only asset they have is a 15 speed bicycle for those of you that have done any research at all on my website we have teenage multimillionaires flying around in their own jet planes and he's the one that had the 15 speed bicycle that's why I use it a lot he's not a teenager anymore he's 21 if he were standing right here Josh Kim he's he's half Korean half Caucasian but the one thing that they all have in common is they're hungry hungry for a better life hungry for change hungry for the tough love their parents didn't give them so is that what it needs you you have to be hungry you you need to feel the pain growth only comes through pain for those that have have read about being an athlete okay okay no pain no gain it's the same in life Elon Musk Steve Jobs Dan pena Ted Turner amongst the whole bunch of the dogs had one thing in common well slept in our office the first two five or ten years of our business life slept in our office the first five or 10 years of our business life I think we would like to know how does it work to qlae principle okay the basics what can you teach he has only one movie part to the qlae model how does it work okay I'm gonna tell right now there's only one moving part but I said since there's only got one moving part I'm giving you the benefit of the doubt that you can get this motivated seller now I know it's not politically correct to talk about having sex with a thousand partners anymore but rockstars got nothing on dan pena I got more ass than a toilet seat at a bus station and I was proud of it how could I ask the squeaky wheel gets the grease and you've been taught all your life not to ask too politically fit in so the one moving part is a motivated seller now let's say that this table are all in IT this table is a manufacturing this table is in medical services and this table is in construction of these five tables or five industries I just mentioned you're looking for a cellar that is between 55 and 70 he has no line of succession meaning he has nobody to leave the business to because most children today don't have anything to do with their parents business there's no succession planning so there's got a guy 68 years old he's been in the business 35 years he's built up a construction company to 5 million euros a year he makes seven let's make it even numbers a million euros a year out of five million which would be a great business that'd be 20% what's he going to do when he drops dead he's going to drop dead right and who is he going to leave the business to the hag he calls his wife and what is she gonna do with the business call nothing she's hoping she dies before him so she doesn't have to be stuck with a business why don't the owners plan for death because nobody wants to talk about it why don't own errs have a succession plan meaning when I die this is what's going to happen to the business cuz they don't want to talk about it's one of the things you don't talk about it's the only thing I talk about okay so you got a motivated seller he's got a construction company 5 million euros a year revenue total revenue he makes 1 million after tax that is your prospect that is the person you call on and on the side we show you how to call on these people how to find them how to find them and seven or eight times out of ten you can finance the entire transaction with no equity you can finance the entire transaction with commercial debt or as you see in this country yep commercial depth meaning you don't have to have any money now nyorori which I had the privilege of teaching at back in the 90s Erasmus which I had the privilege of teaching that back in the 90s and the University of Amsterdam which I had the privilege of teaching it back in the 90s I used to ask the question how many classes have you had in buying a business nobody raised her hand how many classes have you had in selling a business nobody raised her hand how many classes have you had in leadership nobody raised her hand now I'm here to tell cuz I checked last week those three fine universities still don't have any classes in those three subjects so they're not teaching you how to sell your business they're not teaching you how to buy a business are you believe they only teach you how to run a business so we have a motivated seller that has not planned had any succession plan and then once out and that they will look at you with tears in their eyes rolling down their cheeks you're their Savior because otherwise they're going to die most of the owners that I just described in those five industries are going to die intestate that means without a will why don't they have a will for the same reason I just said because they don't want to talk about dying so what happens when John dies and leaves Mary his business without a will it goes into probate or whatever the equivalent there is in this country which means it's in limbo and it's going to be there between six and thirty six months but you step in like a knight on a white charging horse to save them and that's the methodology we use and this methodology has been around about 140 and the first person to think of this and it wasn't Dan Pena Andrew Carnegie the we Scott arguably the first really wealthy guy on the planet who happens to coincidentally come from right down the road from where I live in Scotland that's what qlae is it shows you how to go in and buy the businesses for a little or no money out of your own pocket and using commercial debt and what Trump has done to assist you even though you may not like him is because now interest rates are at the lowest in 5,000 years and I hear they're gonna go lower in America and when America sneezes Hollin catches a cold so if interest rates go lower in America what we think is gonna happen here interest which is gonna go lower and that's what the qlae is and it's a simple process and he followed qlae this is his third time around but he bought businesses with no money right but I mean he did it and it's it doesn't you know it's it's nothing really hard now why doesn't ING bank tell you this why doesn't rabble tell you this and whatever the other Dutch banks are right because this methodology I just described you has little or no fees I'm gonna repeat myself little or no fees there's no investment banking fee there's no management she there's no succession fee because you're using commercial debt and that's why they don't tell you but then is it still that easy as it was 20 years ago yes you go because there's no money on the street did you go to the bank and you say there I want to have your money oh no no you don't know you borrow yeah but that was 20 years ago other time and what I did I did what he told me and I didn't do better so I went in ING Bank I asked for half a million and went out with the money because you told me you're not gonna leave without the money you don't leave without the money or a check or larger there and you until they're embarrassed you're going when the bank opens up and you don't leave the goddamn place until you got your money in your pocket I mean literally now see most of you wouldn't do that because you'd be embarrassed and it's still that it's better to go to a new bank oh yeah now when a new ing branch opens up in wherever okay there's three things that you know for sure number one they've done a lot a lot of marketing surveys that they need a branch there number two the bank branch has a lot a lot of money ing Bank and number three they have no customers that new branch does not have one customer when it opens up the first day on a Monday morning except for you because you're going to be the first one in the door I used to go around in my limousine I'd go to from branch to branch to branch boss wake up we're here and I mean I go through the same boat the same pitch to say what's your all on my site free and I wouldn't leave without it what and I we give you a script what is your legal lending limit what's your personal lending limit the bank officer you probably don't even know if you've ever dealt with a bank what the legal lending limit of the bank is you probably don't even know what the bankers legal lending limit and the bank will said well I can I can sign for fifty thousand you personally can sign for fifty thousand what a lucky day for the two of us all I need is forty nine five what a lucky day and we have kids doing this in the Netherlands today today so even since all the rules in the financial system has changed you say it's still oh yeah easy and reason why it's easier because from 20 years ago there's probably a hundred times more cash trying to get out of the bank doors into our pockets now than when you did it 20 years ago for every dollar for every euro you put in a bank they lend out between 20 and 40 euros for every euro you put in depending on the structure depending on the of the bank so for every thousand euros you deposit they can land out between 20,000 and 40,000 euros and when I was here or teaching in the late 90s I had a speech it was called Holland is not heaven and I was a member of the damned soul club and the getting up and making a speech and mr. Heineken stood up and said mr. Pena I don't mean to be rude or interrupt you but could you speak about something else and I said well mr. Heineken bomb Isis we all know that but the Dutch don't like to face up to the truth can we talk about something else that's happier for us and so then the then chairman of ING Bank stood up and said well mr. Pena let's talk about prostitution we all understand that and so and I didn't know much about prostitution at least the way it is legalized there and so I talked to another 10 or 15 minutes and then we retired to the bar and we had drinks but the but now the difference is there's so much more money and from when you did it the interest rates are probably one-fifth as high as they were when you took the money from the bank why commercial debt and no private equity or venture capital because when you take private equity and venture capital they're going to want their lion's share of the ownership of the business the famous story is when Steve Jobs and Wozniak started Apple they got an investment of ninety one thousand dollars from a guy named Mark Ellis he took a third of the equity and Wozniak and Jobs took a third each now that ninety thousand they take ninety percent and leave ten percent to the founders of the owners but it's it's it's too easy it's too easy and when you know that the banks 75% of all bank loans on the planet I made the last 90 days of the calendar year I'm gonna say it again 75% of all bank loans made in the world are made the last 90 days of the year why because they want to get the money out the door so they can pay Christmas bonuses now that's a pretty shitty reason but if the bankers were smart they wouldn't be bankers would they for that very reason so back to the beginning you find a motivated seller amen or more is everyone motivated yeah sometimes you want to buy another business and he's not motivated and you want to have it well then you can do a joint venture joint venture by Accounting Standards is a 50/50 joint ventures are not 80/20 or 70/30 they're 50/50 and you continue because he may not be motivated today but let's say he's only 57 and he wants to retire when he's 65 you buy 50% of his business you're his 50% partner for the next six or seven years and then you buy the next 50% at the end of that six or seven years but nine times out of ten they won't last till they're 65 when they see that they've turned over the reins so to speak and they've turned over the leadership and they've turned over the controls and you really know what you're doing then they'll probably last two or three years and then one out but nobody wants it well unless you're having sex nobody wants to die in the saddle I mean I mean you don't you want to get one dying go to where you live in the Sun and sell your boat around and and so it's it's not it's not that hard but they're not going to call you so if you're waiting for the motivated sellers to knock on your door which most of you will not just this group any group I speak before you know they're not gonna they're not gonna knock on your door yes that doesn't happen you

Channel: Clarity Coaching - Transforming Lives

Views: 580,268

Rating: 4.8635645 out of 5

Keywords: the best advice you will ever hear, Dan Pena, how I made billions, Dan Pena Motivation

Id: VJvLUMedX8I

Length: 15min 37sec (937 seconds)

Published: Fri Aug 16 2019