How to become successful in life & business | A Million dollar motivation | QLA Millionaire mindset
here’s mr. den tenure
[Applause]
thank you
thank you
[Applause]
welcome dad thank you for having me
I say have you back in the Netherlands
we have of course lots of questions but
to start with what is your definition of
a high-performance person being all that
you can be every day 24/7 365 being all
you can be
if we would like to improve the quality
of our lives personally and
professionally what would be your advice
what can we do what is most important
well the most important thing is self
esteem the people that do we read about
the people that we admire Elon Musk’s
the Steve Jobs the Warren Buffett’s etc
all have one thing in common they have
extremely high self esteem and of course
you’ve heard me say this before self
esteem is built the first seven or eight
years of life and unfortunately we’re
with our parents the first seven or
eight years of life
ergo we don’t have too much I have self
esteem but to build high self esteem and
the way you build high self esteem if
you’re twenty-five thirty five or forty
five is to be around surround yourself
with other people that have high self
esteem show me your friends and I’ll
show your future and so you can still
you can reverse your childhood by who
you associate with how do you do that
well you find people that are that are
where you want to be but they’re already
there you’re 22 years old you’re 32
you’re 41 years old and there’s a guy or
a gal who’s forty-five years old who is
where you want to be they’ve
accomplished a lot of things if you’re
into they’re saving the world they’re
using their money for good causes go
associate with those people be around
those people and they’re easy to find
but you they’re not going to knock on
your door they’re not going to come to
your apartment or your flat and ask you
oh can I help you and and again the best
tool I’ve ever seen and it’s almost been
it’s like it was designed for this is a
LinkedIn
it’s the best social media tool that
ever was for what we’re discussing and
you can find these people now just
remember everybody that’s on LinkedIn
all the I don’t know 20 million or
whatever people that are in LinkedIn are
all there for one reason they’re there
because they want to do business they
want to meet people unlike some of the
other social medias like Facebook or
Twitter or and I don’t even know the
names of the others but I mean LinkedIn
they’re there but for a common purpose
they have a common bond they have a
common goal they want to expand their
horizons and it’s a great tool but you
say it’s so easy no it’s no no I’m not
saying it’s easy I’m saying that makes
it easier that tool but the there are
other people that want to make be all
they can be there are other people that
want to expand their horizons Gallup did
a poll in 2016
worldwide eighty seven point six percent
of all the people on the planet eighty
seven point six percent of all the
people on the planet aren’t happy I’m
gonna say it again because I know these
are Dutchman right eighty-seven but
we’ll just round it off eighty seven
percent of everybody that watched the
face of the earth
seven point six five billion people are
unhappy so what went wrong well I mean
what is the story well if you’re if you
were born in by Afra I mean the odds
were against you but if you were born in
the Netherlands which a lot of you were
rightly or wrongly you had a better
chance a better opportunity than the
poor kid born in Africa okay
what have you done with it if anything
most of you I can just look I wore my
glasses normally I like to be filmed
without my glasses but last time I
didn’t wear my glasses so I couldn’t see
your faces I’ve got my glasses on so I
can see your faces you know what I’m
getting at you have not used the
opportunities whereas the people in the
third fourth fifth world countries use
those opportunities to be all they can
be
and money’s not everything in the world
but money’s the only thing anybody keeps
track of and so you can use that money
that you make as the gates are doing in
trying to save the earth to save the
world
and to do good but it all starts you
have to be serious about it most of the
people that are engaged in personal
development for example aren’t serious
they’re just it takes up three or four
or five hours of their time a week and
so they’re fiddle farting around and
they’re not taking it serious if you
want to take it serious you know Michael
is a successful mentee of mine and you
wouldn’t be here if it wasn’t for for he
putting on these kinds of events but he
got serious about it a number of years
ago and he’s doing a lot of good how
many of you can say the same how many of
you can say that you’re serious about it
how many of you can actually say that
you’re trying to be all you can be now I
won’t insult you by asking you to raise
your hand because you just lie we all
know what the real answer is don’t we
you’re not and so if you want to be all
that you can be and if you want to be a
high-performance person and you don’t
have to be I mean ninety-eight percent
of all the high-performance people on
the planet are introverts I’m gonna say
it again slow because they’re dutchman
right ninety-eight percent of all the
people on the planet that are high
performance are introverts Elon Musk
Warren Buffett Bill Gates have something
in common
they’re introverts just like you what
means maybe we have to explain this more
okay
introverts meaning that the you don’t
say what you really feel
introverts is you you don’t you you
don’t act as if you really wanted to
show the person that you don’t just you
disagree with them introverts are when
your parents were telling you when
you were growing up you just put your
head down and kept your mouth shut and
that’s why you’re introverted now as
adults as you can plainly see I I wasn’t
raised that way my father said if you’ve
got something in in your mind if you
come out of your lips
if you’ve got something in your mind it
should come out your mouth dan and God
God knows I took it to heart and I’ve
lived that way all my life the at the
TED talk I gave a couple days ago which
Michael was there to talk to the kids it
was quite interesting when I told him
that I’ve been talking like this since I
was a teenager I’ve been talking
since I’m a teenager which is some time
ago well I’ll be 74 in a couple months
so it is some time ago but the point is
that I had self-esteem I didn’t know
till I got grown up and was an adult
that everybody didn’t have self-esteem I
didn’t understand that I didn’t realize
that everybody didn’t have
self-confidence I didn’t realize that
everybody didn’t have self-worth because
the kids that I hung with all were like
I was because their parents were like
gave them a good role model most of the
people that come to people like Michael
or any of the the Guru’s out there and I
call him a guru come to them because the
you were lacking something in your
childhood in my particular case a lot of
people come to me because I’m the alpha
male father they never had I asked the
question a couple days ago how many of
you you can raise your hands how many of
you have kids too bad but anyway
you have kids okay don’t raise your hand
now how many of you would like to have
your kids grow up just like your parents
you know the answer don’t you close to
zero because there were shitty role
models now I’m not going to ask the
second question how many of you would
like your kids to grow up and be like
you
allah forbid god forbid but being a
high-performance person is a full-time
job
michael is only 20 over 20 years I’m
like this when I wake up in the morning
to brush my teeth I’m like this when I
brush my teeth before I go to sleep I’m
like this 24/7 365 and I’ve been like
this for the better part of 50 years I’m
always like this I’m always pushing the
edge of the envelope and that’s why you
know I’m an overnight success I’ve been
doing this I’ve been coaching twenty
five and a half years but all of a
sudden I’m popular as hell but I’ve been
doing this for 50 years I have the same
habits today as I had 50 years ago the
exact same habits but they’re now
they’re just ingrained in me they’re
ingrained in me and for those of you
that have never been around the
high-performance people like I just
alluded to the Warren Buffett Elon Musk
God rest his soul Steve Jobs who I
happen to have known they were like this
24/7 365 it wasn’t an act now I know
Michaels like this all the time
but he and I both know people that are
considered gurus that they have a stage
face and they have their real face they
don’t walk their talk and part of being
a high-performance person is walking
your talk walking your talk and I know
Michael does otherwise I wouldn’t come
here and you know and assist him the
because I get a lot of invitations from
a lot of different people and almost all
of them I turned down because I know the
Guru isn’t walking his talk the Guru is
being phony the Guru is being
disingenuous you’re a grandfather now
yes I am thank you you showed me the
picture two days ago he’s the future
legend correct
how will you be as a grand dad for him
hard it will be tough yeah I’m hard I
was hard on his father and I’m gonna be
harder on him because I wish I could say
with my hand on my heart and this is
where Michael and I are philosophies
very
if love got the job dumped the job done
you wouldn’t need podcasts you wouldn’t
need seminars it doesn’t tough-love gets
the job done and the people that I’ve
just alluded to those names the I was
doing some research for my talk and I
looked up Heineken / Gerard Heineken who
was the founder of Heineken beer in 1864
he talked his rich mother Heinekens come
from a wealthy family even before the
beer he talked his mother into buying a
brewery in 1864 which they then turned
into a Heineken how hard or Gerard was a
hard-ass tough as nails now I didn’t
know him I’m not that old but I did know
Freddy Heineken the old man and he was
hard ballbuster
now I don’t know his daughter the
current CEO of Heineken but I’m told
she’s a ballbuster I did know Steve Jobs
I do know Elan musk I do know Warren
Buffett I do know and they’re all ball
busters success leaves Clues kids I just
named five of the greatest names and
business in the last 150 years and they
all have one thing in common their ball
busters their hardest nails
where does that leave you so is it a
choice correct to be tough firm but fair
what’s the fair part because I can
imagine that most people think you were
so tough so you know courage a
courageous but tough I don’t want to be
like that now most people don’t I want
to be liked
yeah well see you want to fit in I don’t
I’m the only speaker that you were ever
gonna hear that really with all his
heart doesn’t give a if I leave
here you liken me I did something wrong
I did something wrong I’m not
here for you to like me I’m here as a
favor to Michael my mentee for 20 years
I’m not here you know
if you all died today I don’t give a
and I mean it but Steve Jobs didn’t
give a about you either Warren
Buffett doesn’t give a about you
today
Elon Musk doesn’t give a unless
you’re gonna buy a Tesla car don’t you
understand don’t you get it
you think Elon Musk wants to fit in we
know the answer’s no right you want to
fit in because you had poor role models
at home most everybody in this room is a
pleaser you want to be like when I read
about that people commit suicide because
they were unlike on Facebook and makes
me sick to my stomach how can the world
get that up that because a
Facebook people are going to
kill themselves what have we come to God
Almighty don’t you see there’s something
fundamentally wrong with that in that
regard the Chinese they’re banning
Facebook but 98% of the high performance
people are introverts 90% of the high
performance people on the planet they
want to be liked 98 percent we’re
talking to I’m at the cutting edge the
hard edge he’s not at the hard edge he’s
someplace in the middle but being liked
doesn’t get you a raise when you’re
working for wherever you’re working for
efficiency accountability most people
that come to seminars are there because
they weren’t held accountable when they
were growing up there used to be a
saying when I was growing up which is
very politically incorrect now I spare
the rod and spoil the child the rod
meaning beating okay spare the rod spoil
the child now we have kids and I’m sure
many in the audience can attest to this
that have never been reprimanded
I’ve never spanked by their parents
never been screamed at never been
slapped never been in a school yard
fight with another kid and look at you I
mean we have a to test on my website all
my stuff’s free by the way one is called
a a snowflake test
ninety six point four percent of the
people that take the snowflake test fail
the first or second question on the test
is if someone spit in your mother’s face
I’m gonna say this real slow so that
your Duchin remember if someone spit in
your mama’s face Baldy you in the front
row right here okay what are the choices
is this four or five choices the choice
that’s most clicked is I would try to
ascertain I would try to figure out
where he was coming from and if he had a
bad day now what the does that have
to do with spitting in your mama’s face
I would try to figure out if he had a
bad day
does that mean if he had a bad day it’s
alright to spit in your mother’s face we
have another test it’s called super
success test 98.4% funk that test
because we decided to make a softer test
okay well maybe the guys really believe
that they shouldn’t punch the guy’s
you know stab him in the eye with
a knife or stab it not on your mama okay
we do a new test
it’s called the super success test so we
asked softer questions hoping praying
that the results are going to be better
boy
never underestimate how long you can be
kids so the softer test was based on
what kind of sacrifices are you willing
to be super successful 60 hours a week
nobody is willing to work 60 hours a
week to be successful nobody’s willing
to miss an anniversary wedding
anniversary to be successful
nobody is wanting to miss a holiday if
you booked the holiday and something
important happened in
business would you tell your family to
go on the holiday without you and you’re
not gonna go
nobody said yes and it’s got 27
questions or 26 questions and they flunk
that test worse than the other test
because you’re not willing to make any
sacrifices to be high performance
I still work 56 I don’t consider it work
I still work 50 60 hours a week and I
haven’t had to work in 35 years 35 years
but the world has changed I mean the and
the kids and when when I started giving
all my product away for free about ten
years ago and the reason I went from the
highest priced product on the planet to
zero because I got so tired of
you crying moaning and whinging oh it’s
too expensive I can’t afford it so now I
give it to you for free I get three
times more emails now there’s so much
there I don’t know where to start
what do I do
so then a year ago we developed a new
product QA for dummies it was called
chilli for retards but we got in trouble
with the retardation Association they
gonna sue me for using that word so we
pulled that out and he said just dummies
dummy seems to be a politically correct
acceptable word but not retard okay and
but the results were even worse because
what you’re saying is okay fine I wasn’t
raised to go hit somebody if they spit
in my mother’s face but I I’m not
willing to miss some holiday and and
stay in the office and work and let my
family go without me so the bottom line
you’re not willing to do anything you’re
not willing to sacrifice anything to be
a high-performance person ie it’s all
for free in your website I test all the
information everything’s free audio book
is on can we buy the book still the the
red one now now the first hundred
his audio for free and then the book
that I think is better than that is the
fifty billion dollar ebook which is also
free there’s sixteen point eight gigs of
free material everything that I’ve ever
produced is free the because I wanted to
take the last excuse from that guy and
that guy in that gal why you didn’t do
it
I’ll give it to you I certainly don’t
need the money I only charge as I was
telling you the other night at dinner I
used to give seminars at the airport a
thousand people for free in the 90s
absolutely 100 percent free and I fed
him lunch and we had cocktails
afterwards and we get these nasty uh
notes I didn’t like the lunch the
chicken was cold you try to follow feet
of thousands people the chickens going
to be cold I didn’t like that the
bartender didn’t pour enough whiskey and
migraine this is free and then the coup
de Gras and when I stopped doing that
they wanted me to pay for parking when
they came to the free seminar so I
stopped doing that sometimes you sound
like a tough boy like hell but yeah but
you know you care about the world
because otherwise you wouldn’t do what
you do know Michael is right he’s trying
he’s looking for my Achilles heel
my Chinkin armor I don’t care about
saving the world but I want you to be
able to save the world that’s true
that’s true and we’ve created now up to
seven hundred and seventy five billion
dollars with me it’s just like well
maybe not there’s not too many touch on
that list but me heads just like you
seven hundred seventy five billion in
the last twenty five and a half years
and a lot of the guys and gals are
trying to save the world I mean they’re
just you know
but I tell you think of a product or
service that changes a billion lives ie
Facebook and you will by definition
become extremely wealthy and you can go
and take that money and the followers
that you’ll have to go enhance the the
world in whatever manner you see fit
our only benchmark is as long as it’s
legal moral and ethical anything goes
now depending are you where you are in
the world the moral and ethical can
swing in the wind because everybody’s
ethics is not the same as somebody
else’s ethics and everybody’s morality
is not the same as everybody else but
where you go and when you go to a place
that has a rule of law legal is legal
and so but we’ve got a you know a lot of
a lot of people that are utilizing the
qlae methodology all over the planet
there are some places in the world as
I’ve told Michael Oher it’s harder ok
some of the African continent is harder
because the corruption Russia is harder
because the corruption not impossible
but harder but if you’re in a a major
country that has a rule of law qlae is
easy easier than any other game in town
and the whole system is based on no
money because I started with no money
and the kids that have created the 775
billion with one or two exceptions have
started with no money and the and it’s
quite remarkable and right now hate him
or love him President Trump has changed
the world forever
president Trump has changed the
financial fabric of this planet forever
more full disclosure I knew the
president 25 years ago I haven’t talked
in 25 years but he has changed the
financial fabric of this world forever
so what did he change he changed there
the lowest interest rates in 5000 years
they are giving away money at ING Bank
literally what are you going to tell
your kids and grandkids 20 years from
now
when your grandson that yet to be born
comes up and says granddad what did you
do during the greatest transformation of
wealth and the history of the planet and
you know what you’re gonna say I wish I
could speak Dutch now so I could say it
in Dutch
i sat with my thumb up my ass
and did nothing they know nothing got
that Denison ok ok what are you going to
tell him right now the the energy in all
they across the board in the world is so
upbeat and when President Trump wins
again and I was one of the first to
predicted he was going to win before he
decided to run he’s going to win in a
landslide
the Democrats are handing it to him on a
silver platter he’s changing the world
because and what he’s doing with the
Russians are not using me with the
Chinese the Chinese have been screwing
over the world with the tariffs and
stealing intellectual property etc for
40 50 years he has now taken him to task
as somebody else should have Obama
should have Bush should have Clinton
should have and then Bush again should
of and whoever came up after they should
have done but they didn’t because
there’s collateral damage right now the
farmers in America are getting hurt some
of the farmers in the EU are getting
hurt because of these terrorists but
it’s got to be done it’s got to be done
otherwise the leading country in this on
this planet is going to be a communist
the country not a free country and you
know wish somebody had done it but he’s
changed the world he just has and it’s
it’s quite remarkable to see because I
have mentees students devotees whatever
you want to call them all over the
planet and the stories that I get back
and it’s just it’s incredible the good
that the joint I have many here in the
Netherlands that are just you know in
America they say question it but I mean
they’re just doing significantly well
they’re rolling up various industries
starting with no money and it’s all on
my side it’s all for free the
methodology the same methodology he’s
used a couple times when he’s brought
himself back from financial death which
he shared with you he’s not a secret
otherwise I wouldn’t mention it it’s not
a secret but he’s used it a couple times
himself and it’s all very doable but you
got to want to do more than just talk
about it and getting back to your
initial question being high-performance
the is to take it seriously and for
those of you that are in young late
teens early 20s mid 20s you can do this
process five six seven eight times for
those of you in your 40s you can do it
two or three times for those of you in
your 50s or 60s you can do it once or
twice and but we are creating
generational wealth which would normally
take 20 to 25 years which is the
definition of a generation in three to
seven years three years if you do
everything perfect seven years if you do
everything wrong and most people they
average about five years let’s go back
in time before we go to Q&A and explain
to you a little bit more you had a
company correct build it from $820
correct and took it public for 450
million correct
that was when 1984 okay then after you
start kodesh coaching I got thrown out
by the shareholders and in 1993 I gave
my first seminar in Los Angeles and they
I’ve been coaching ever since but this
century I’ve only given last 20 years
I’ve only given the seminar at the
castle
I went from giving him a by the way the
first seminars they gave were all free I
gave everything free because I didn’t
need the money but I had no
accountability let’s say I take this
table right here and I and I get I
trained you for free you know some of
what some of you are gonna go learn how
to play golf better some of you there’s
no accountability that’s why I don’t
like a charity charitable
because it’s hard to keep people
accountable that work for charity I mean
they’re doing it for free right so so I
went from free to high-priced to only at
the council where I hold them
accountable and then you started
coaching why didn’t you start another
company because the first of all I it
sounds strange in hindsight I found
making four hundred fifty million
dollars easy easy and I wanted to do
something more with my life and so when
I got into the financial coaching I
wanted to change the fabric of financial
coaching which I have and I wanted to be
known as that well and now that’s what
they call me the greatest of all time
but this was just me flappin my mouth 25
years ago now I am the greatest of all
time visa vie creating wealth through
people like yourselves and I wanna you
know I wanted to leave that legacy and I
wanted people like I’m from the barrio I
from real rough background been in jail
five times did a lot of ugly things and
the which I don’t recommend to anybody
but I’m glad it happened to me because I
know what the other side like some of
you’ve never been you know kicked in the
teeth I know what it is to be kicked in
the teeth and my teeth be on the
pavement I know what that feels like I
know the humiliation forget the pain you
get over the pain and I wanted the poor
kids to understand that they had a
methodology there was a methodology used
by one of them and I’m considered for
poor although it’s hard it’s hard
pressed for me to say how they don’t
believe that I’m poor now but I mean the
that was once poor and got in a lot of
trouble you can do it if you want to do
it bad enough the operative part of that
little description is if you want it bad
enough Muhammad Ali which used to be
Cassius Clay the great fighter arguably
one of the greatest fighters ever ever
he was talking since he’s 1415
years old on the greatest before he ever
had a professional fight
and athletics it’s more accepted to talk
okay you’ve been trained keep your
head down don’t embarrass yourself don’t
embarrass the family don’t say things
that may not happen and I do just the
opposite I tell you to set goals beyond
your lifetime I tell you to set goals as
soon as humanly possible when kids come
to me they want to make a million ten
million you know and then when they’ve
made a hundred million they say mr. Pena
we would have never ever dreamt that we
could create a hundred million until we
met you you will never exceed your
highest expectation you will never
exceed your highest craziest thought
never that’s a guarantee and so then why
other than you’ve been taught by your
parents and conventional wisdom to set
low goals they’ve told you the theory is
you set low goals so then you can
stair-step achievement and you won’t be
as disappointed when you fail that’s the
theory but normally the person or the
persons that have proposed that theory
are poor are poor and the but qo lays
there most people who come to the castle
pay about sixteen thousand euros
it’s about euros that’s a lot of money
for most people are they poor how do
they get the money to go to the castle
now why did well the cows are sold out
for a year so don’t bother going to the
bank and gonna borrow any money please
don’t bother my office I’m not here to
sell you a castle so they might believe
me but they fall into three categories
the kids to come to Gaza and I call you
all kids because I’m either old enough
to be your father or grandfather okay
now in an audience I was a couple
ago there were actually two guys my age
so and one was couldn’t hear and he was
he’s trying to go like this you know but
he says I can hear you mr. Pena well
that’s good because it’s very seldom
that somebody in the audience can’t hear
me so they fall into three categories
ten years ago my demographics were
between the forty and fifty five meaning
the people that came were interested in
me ten years later my demographics are
fifteen to thirty five fifteen to thirty
five now the people that come a third of
them are don’t have a pot to piss in and
or winter to throw it out of they don’t
have two euros to rub together they
don’t have two euros they’ve either took
a mortgage out on their house and in the
United States they can’t even get
student loans which I don’t understand
that exactly but I mean they get student
loans and of that third half are still
in school living at home okay
the next third have businesses that
really aren’t real businesses all they
are is they’ve produced a job for
themselves a job for their wife a job
for their you know their cousins they
are doing between three four five
hundred thousand euros a year in
business and maybe two million euros in
business they’ve got a business that
barely gets along a third of them have
been reasonably successful visa vie
conventional wisdom
they’ve got businesses 5 10 15 20
million we’ve had some people that
actually had some serious money
so those third but that’s no
representation of who’s successful
because the third is that I already have
money figure out this is too much
work okay the third that’s in
between life has a way of catching up
their mother is dying a cancer there and
I’m not saying this because it’s funny
their nine-year-old daughter gets
pregnant nine and their whole life you
have a nine year old daughter that gets
pregnant and your keeper your whole life
Changez I’ve seen it with my own eyes
okay and the third the kids have less
baggage we have kids the only asset they
have is a 15 speed bicycle which kind of
puts the same category you’re in a 15-3
bicycle for those of you that have done
any research at all on my website we
have teenage multimillionaires flying
around on their own jet planes teenage
multimillionaires flying around on their
own jet planes they understand I think
they do okay
you should be embarrassed teenage multi
million I was flying around their own
jet plane 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 21 if he
was standing right here Josh Kim he’s
he’s a 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 speaker I don’t you
probably don’t have any athletes in the
audience but here 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 we all slept in our
office the first two five or 10 years of
our business life slept in our office
the first 5 or 10 years of our business
life I think we would like to know how
does it work to qlae principle ok the
basics
what can you teach he has only one
moving part to the QL a model how does
it work
okay I’m gonna tell right now there’s
only one moving part if it was a two
moving part I couldn’t explain it to the
Dutch guys but 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 rock stars 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 asked
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 ite
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
all 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 five
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 site 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 raise your hand now I’m here to
tell cuz I checked last week those three
fine university 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 arguably 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 gonna die most
of the owners that I just described in
those five industries are gonna 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
years 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 going to
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 in
just we’re just 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 rattle 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
Commerce
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 now because
there’s no money on the street did you
go to the bank and you say there I want
to have your money
well no no you don’t know you borrow
you’re gonna blow 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
wire time you sit 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 of 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 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 you’re 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 49 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 we reason
why it’s easier because from 20 years
ago there’s probably a hundred times
more cash trying to get onto 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 balance sheet
of the bank so for every thousand euros
you deposit they can lend out between
20,000 and 40,000 euros and when I was
here 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 wises 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 here 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 gonna want the
align 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 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 percent of all
bank loans on the planet are made the
last 90 days of the calendar year I’m
gonna say it again
75 percent 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 I’m gonna say it
again slow cuz you’re Dutch 75% of all
money loans in the entire world are made
the last 90 days of the calendar year
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 well you can
you can do a joint venture joint venture
by Accounting Standards is a 50/50 joint
ventures are not 8020 or seventy thirty
to fifty fifty 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 do 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 the 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 what are the tough times
in the QA process with the Manties
you’ve had in the past 25 years what are
the common mistakes common mistakes is
they skip the steps we list the seven
steps on the site they go from step one
to you’ve got an uncle who’s a lawyer
you’ve got a cousin who’s a banker and
you’ve got a brother-in-law who’s an
accountant almost everybody in this room
has somebody they know that’s either a
banker an accountant and or a lawyer
right and you go to them this system is
based on doing business with people you
don’t know why don’t you want to know
him because familiarity breeds contempt
familiarity breeds contempt because now
you’re happy slappy you’re going out to
lunch you’re going out to dinner your
kids are taking tennis lessons together
and now it’s hard for you to end the
business relationship and it doesn’t
make sense for you anymore these are new
fresh faces that you found on LinkedIn
now for those of you some of you went to
a school that is worth talking about
your alumni associations
some of you are parts of professions
accountants lawyers doctors etc that
have national associations there are but
Lincoln is the easiest the fastest and
there’s a premier LinkedIn I think it
costs 100 euros a month use the the
premier LinkedIn where you’re not
limited to how many people you can
contact and it’s just it’s a dream team
for the well for the dream team for your
accountants and for your lawyers for
everybody all your professional
associations can be derived on LinkedIn
it’s it’s a great tool I wish that I had
invested in it when it came out 15 years
ago it’s just a terrific tool because by
definition everybody that is on there is
looking to do some sort of business and
a lot of times they fudge and they say
they’re interested in charitable
associations they’re interested in pro
bono meaning for free that’s not
necessarily true
they’re there to try to make money
they’re there to try to make money and
all this stuff is on my site in my book
audio book audio version which I don’t I
don’t see why everybody doesn’t listen
to it is spells it out and other than
it’s in my voice and I scream sometimes
in the audio version other than that
I’ve had people call the office and say
they pissed themselves because I yelled
at them during and and Kim will say mr.
Pena wasn’t in Bulgaria how could he
yell at you he says well he yelled at
the audio on the audio book are you
kidding me Jesus okay specify a little
bit more about the dream team what is
the dream team what is needed for the
dream team as many of you haven’t gone
out and ventured into business because
you you’re you haven’t got you you think
you don’t have enough experience and
therefore if you don’t have enough
experience somebody’s gonna take
advantage of you that’s true but we’ve
built the concept of the dream team that
is built around you you’ve got a
chairman a CFO CEO industry experts
and you have six or seven people that
are on that team you’re not paying them
any money they are getting free founders
equity they’re getting free ownership in
the company upon exit and the and
they’re extremely interested now in the
old days you work forty years at ING
Bank and you might get a watch that
those days are dead now you get nothing
you’ll probably get a pension plan oh by
the way another since the Gallup poll
just came up over my told you eighty
seven percent of the people are not
happy the half of the people will run
out of money before they run out of time
meaning their retirement savings the
retirement plans will be m”d drawn down
to zero before they die half of the
people ok another statistic that keeps a
lot of people from doing what I’ve
suggested is ninety percent up to ninety
percent of all business startups fail
the first year up to ninety percent of
all business startups so if it almost
sounds when you read those things that
the odds are against you well no I look
at it just the opposite I look that that
means that most you aren’t going to try
not to you but I mean most of the
audience’s I speak to won’t try so that
means the opportunities that are there
are going to be more for me and
especially now even though I’ve been
pounding on my chest for three or four
years that lowest interest rates in in
five thousand years well if you go to
the bank ING Bank call it the bank
manager and ask him when was the last
time interest rates with this low he
can’t tell you probably in his career of
twenty five years of banking they have
them in this loan so how can it be if
entrepreneurs go through the bank and
won’t get money what are the reasons
it’s a numbers game for those of you
that I’m gonna save as a guy because I
can’t relate to this as a woman a guy is
20 pretty girls
okay the first one that you asked out on
a date or can I buy you a drink
you guys still buy drinks for girls at
bars yeah we haven’t sunk that low yet
okay so the the first one may not want
you to buy our game right the way some
of you look I can’t see you’d have to
pay money to buy your drink biome a
drink by the way you only have two times
to make a first impression first is how
you look second is when you open your
big mouth
most of you won’t ask the girl if you
can buy them a drink because you because
you get nervous you step on your dick
it’s a numbers game
there are last time I counted it is
about 300 banks in the Netherlands 315 I
think I used to ask how many have made a
presentation to a banker today this week
this month this year ever
four hands went up five hands that’s
about right five out of 250 people
that’s about right so how can you tell
me this doesn’t work because you’ve been
scared by other pundits or things that
you read about or things that you listen
to on the news not to do it and even
though I can and you go on the website
and you can see all these kids that are
not 15 they look 15 but they’re 25 that
are getting money just as he did 20
years ago and it’s easier than it was
then because there’s number one interest
rates are significantly lower than when
he did it and number two there’s about a
hundred times more money in the banks
them trying to push out the door than
when he did
he did it at a hard time interest rates
were high and the the the financial
constraints or the lack of financial
constraints uh uh let me back up
another thing that keeps people from
doing it is the crash of 200 2008 2009
2010 you’ve all read about that heard
about it right
that’s all horseshit it happened but
it’s not happening now that’s like
saying for you yo those of you that are
old enough to have grandparents from the
depression it happened but it’s not
happening now for those of you that have
grandparents that fought in the war you
know against the Nazis it happened but
it’s not happening now so you’ve been
deluded scared and to not taking action
most of you have been taught taking
action is listening to a podcast taking
action is reading a book taking action
is taking a course online No taking
action is pulling the trigger
you know I say in four words but most
people say in a book just do it
that’s taking action you don’t get the
the the three the third pretty girl to
say yes to buy or drink unless you ask
her right so how do you foresee the
financial future five ten years from now
oh I thought you’re gonna say oh well
the world III don’t have much faith in
the world the world is irreversible
we’re
I mean we’re but for the next 50
years I mean I make hay while the Sun
shines
until the next were in the eleventh
month past the longest bull market in
recorded history on the planet
bull market economics cycle stock
markets okay we’re in the 11th month
past the old world record we got trump
coming in again and my judgment and he’s
going to
in that bull market and he’s very stock
market oriented he’s very interest rate
oriented some people say is to stock
market oriented some people say he’s to
interest rate or an but that’s all good
for us for the next five years
to coincide actually I believe six years
to coincide with my 80th birthday in six
years the it’s it’s easy-peasy as our
daughter used to say twenty years ago
when she was a little girl and in some
countries like this country it’s easier
because the the the only the problem the
Netherlands has is a lack of work ethic
they’re lazy they’re just flat
lazy and slow well I think there’s lazy
because they’re slow because they don’t
want to intellectually engage with
somebody like me cuz I’ll rip their head
off and down their neck I’m
intellectually I’m at Guan I’m a genius
– I’m extremely quick and I chop people
like you up for not even
breakfast that’s what they’re afraid of
but the bankers are slower than you
they’re slower than you yeah and when
you come in with a script that you took
off my site for free they’re gonna think
you are Warren Buffett why don’t
people do it they don’t do it because
number one most people don’t want to get
out of the comfort zone they’re
comfortable and the Netherlands is a
great place to be comfortable at you
know the and I and I know I mean I you
know I’ve been here since the the early
middle 90s but see I remember what
Amsterdam and Rotterdam looked like in
1952 and 53 I was here then as well as a
little kid flat bombed out you can pick
up
Nazi war helmets in the rubble almost
this exaggeration but almost it’s flat
at this stage when I was here from
beginning of 52 to the end of 53 during
the Korean War my dad was an Army
officer and he was able to bring his
dependents here we were stationed in
France but Berlin I mean most of Europe
was flat sea so I know what it looked
like I know what it looks like now but
the people that had the big much more
expanded comfort zones were your
grandparents they fought the Germans you
know and they had hard times but I mean
you haven’t fought anybody except your
waistline and most of you were losing
that battle you haven’t done you
know what do you want your legacy to be
so some of you don’t even want to tie it
so another thing you don’t want to talk
about what’s your legacy gonna be
you know you know when I when I tell us
when I tell the students and groups if I
were you anybody in the audience and I
could see a 17 year old kid
multi-millionaire fine and his
jet plane I’d be embarrassed teenager no
education homeschooled one of Ted kit10
kids and a how can you I don’t
care how you justify I don’t care what
you can tell yourself you can’t
yourself enough to overcome a
teenage multi-millionaire and his
own jet you can lie to yourself
from now until Christmas and you can’t
yourself over that and that’s
only one kid I got a ginyan of them what
are you gonna do now I say this
metaphorically because my lawyers say I
can’t do it anymore
most of you ought to just take a
thing
blow the top of your heads off
and then let Michael pray for you what
are you gonna do Josh Kim has a cult
following of a million people following
when he walks around he lives at a
penthouse in Las Vegas he races his two
million dollar race car on the weekends
he just turned 21
other than jerking off what were you
doing between 17 and 21 guys what did he
do home assisted health care okay in
America they wanted to get you out of
the hospital as soon as possible now
they don’t want you to stay more than a
few hours or a day or two after surgery
okay
and so they can home assisted is you go
home and the nurse comes to you or the
physio comes to you and he’s rolling
those up he has two offices one in
Chicago one in Las Vegas and the big
margin business and there’s a lot of
people that have started those
businesses 20 30 even 40 years ago that
have no exit health care is hot all
through Europe but the hottest of hot
hot hot is cybersecurity and artificial
intelligence that is sizzling hot every
time Trump rattles his sword
cybersecurity and you know you’re like
some cybersecurity guys just stole 40
billion in bitcoins I’m you know it’s
hot and and somebody that some of the
kids that got into cybersecurity at the
beginning of the cycle 25 30 years ago
when it really started are now tired old
not old by my standards but they feel
old and they don’t want the hassle
anymore so they went out and the banks
loved to finance him and 40
between 40 and 60% of all cyber security
contracts are with governments either
main governments municipalities state
governments school governments and
they’re easier to finance because by
definition almost all governments pay in
other words we’ll pay out the contract
and you won’t have to worry about the
risk of non-payment and that’s how I got
started I got started with a government
contract 35 years ago and it’s still
it’s still there well what are other
interesting industries health care
internet cyber security and artificial
intelligence the I’m gonna tell you
everything except the ones I’m gonna
tell you to stay away from now let’s see
the list of stayin away is much shorter
than the list of doing retail forget
about it restaurants forget about it
bars forget about it
construction forget about it because the
margins are too thin
the but virtually you can take a yellow
page they don’t have yellow page books
anymore do they
you can sell a yellow page on the ground
and let the wind blow the pages stop
there that’s how that’s how easy it is
that’s how easy it is I mean virtually
almost anything except those industries
I just mentioned and those industries
are the and when you think about it what
you probably don’t but when you the most
of the big companies General Motors is a
roll of consolidation play most of the
airline’s our role of consolidation
plays consolidation meaning buying up
smaller airlines that make a big airline
IBM in which was used to be called
International Business Machines is a
roll up consolidation play the banks Oh
financial tech is huge
hot financial technology which is part
of kind of an offshoot of cybersecurity
but artificial intelligence in 20 30 40
50 years the audience’s are going to be
you it’s going to be cyborgs
I’m looking I’m gonna still be doing
this at 40 50 years from now so I’m
looking forward to that because then I
won’t have to explain so much but the
one thing that and there’s a few guys
around like me in the world not many to
this day they have not figured out
coders how to write an algorithm for
experience so my 50 years of experience
and thousands of transactions hasn’t
been able to be duplicated with an
algorithm I’m the only person out there
that has done with kids like you deals
in the millions tens of millions
hundreds of millions billions tens of
billions and hundreds of billions from
teenage multimillionaires but you’re
probably tired of hearing about Josh by
now – the largest transaction in
recorded history five hundred billion
dollars my man T’s neon the city of the
future in Saudi Arabia if anybody speaks
Arabic in the audience which is not
likely but if your speak Arabic or
you’re willing to learn Arabic Monday
buy a one-way ticket to the kingdom
Saudi Arabia never return there’s going
to be at least a million billionaires
made in neon the city of the next
century a million billionaires leave
your wife your children your pregnant I
mean pregnant wife leave and just send
them the money back if you speak French
you go to Haiti if you speak Portuguese
you go to Brazil there’s so places but
nobody in this room is going to
go to Brazil and learn Portuguese
opportunities yes sir
enough we have a few more minutes left I
think we have to explain something more
about the 50 billion dollar man becomes
to seven
seventy-five billion dollar man and
people don’t understand because they
they asked me did then made seven
hundred seventy five billion himself
told him no he explained that I have
kids mentees like him that I’ve created
seven hundred and seventy five billion
dollars since 1993 in transactions
buying and selling companies taking
companies public let’s say this young
man this guy here that the lights
shining off his bald head he goes out
and he follows qlae and I get an email
from him which happens all the time Dan
I just floated in my company on the
burst for 500 million euros on the
Amsterdam Stock Exchange and you’re
right I didn’t put up any money that’s
five hundred million well I have seven
hundred seventy five billion of those
and I have I get I had a guy came to the
seminar in 2004 I got a letter from him
maybe six months ago a certified bank
statement signed by the chairman of the
bank at HSBC Bank verifying this young
man had eight hundred and forty-one
million cash in the bank so I assume
he’s made some other money although we
only count the eight hundred forty so
all my numbers are verified either on
the stock exchange bank statements
certified net worth statements 775 and
we’re going to across the trillion
dollar mark not to in a distant future
do you invest in stocks or bitcoins or
whatever now why not Sally and I have
been in cash for twenty years because I
I don’t know how the other guys do it if
I have an investment portfolio I’m gonna
worry about my investment portfolio
before I’m worried about your business
so we got into cash about twenty years
ago we own no assets outside the castle
and I don’t own the castle
a trust owns the castle and because I
devote when I decided to coach in 1993 I
decided to devote 100% of my time to you
kids and that’s what we’ve done
although Sally and I or Sally just
bought some berkshire hathaway because
we want to go to the annual what he
called his stockholders annual meeting
but we missed it this year
but we do own a little of that we just
we just bought that in the last year but
we have no investments everything’s cash
none
why no bitcoins and why no cribs okay
well bitcoins I call the top of the
market in December 2017 when it was
nineteen thousand six hundred dollars I
said if you have bitcoins sell half keep
half this is the top nobody listen to me
if you knew who was really behind
Bitcoin really behind Bitcoin you would
run as fast as you could to sell
it I know 100% if you knew who owned it
or who started Bitcoin you and you had
become you couldn’t sleep at night I
know 100% and when the real founder a
Bitcoin comes out it is my humble
opinion there’s nothing humble about me
Bitcoin will go to zero one day
in a microsecond look I got then last
question again you’re the grandfather
you have this grandchild correct what do
you think about the world in 20 25 years
from now it’s good it’s gonna be hard
it’s gonna do to save it they get away
from political correctness the I’ll
answer it in a different way
in 1986 the average hand shake a man’s
hand you know counter-pressure handshake
was 118 pounds
a woman’s handshake was 96 pounds
everybody in Salem saying the pressure
you know when you shake hands that was
1986 in 2016 the man’s pressure have
gone from 118 to 96 and the woman’s has
gone from 96 to 108 women are acting
like they had a pair and men don’t have
a pair and if that continues as well I
mean the Greek philosopher said this and
amongst others the I don’t see much of a
future but the Sun is going to gobble up
the earth and about between 7 and 11
billion years although I’m planning on
living a long time I’m not gonna let
quite that long but I you know just work
hard I don’t know any other thing than
hard work and hard work is out of favor
now it just is and I I don’t see any way
around that the only people that believe
in hard work or people that you know not
the only that’s an exaggeration
but most of the people that still
believe in hard work are people that I
produced and now if I was sitting up
here in a wheelchair like Hawking’s
who’s dead God rest his soul yeah you
know he and I were about the same age by
the way but I’m not am i I’m 6 foot 1 to
25 a twisted steel and Panther
piss and I can take ten snowflakes at a
time and rip their head off and
down their neck maybe this group 20
at a time but I’m a dying breed
and earth oh I understand that I’m sad
to say that because I say I know it has
it’s a sad commentary for the human race
but you’re not gonna don’t the human
race is still going to be here in 20
years it’s gonna be you know the
Russians laugh at us we’re so weak I
mean the free world
the Chinese Lapidus because we’re so
weak you understand that there’s three
economies on the planet arguably Chinese
Russia and the free world
and two of the three Lapidus do you
think they’re delusional I don’t think
so
and here in the Netherlands you just
smile about it not just here in New York
City they smile about it too but you can
you can have anything you want in life
as long as you work hard and it’s honest
legal moral and and a Dutchman’s
morality is kind of a swinging bush and
and a Dutchman’s ethics it’s kind of a
swinging you know but as long as they
within the rule of law I mean and I have
a lot of successful I’m like Michael
that’s people but he’s really polish
okay so let’s get that clear
he’s really polish but I mean kids I
mean you can have whatever you want
please go to my side it’s all free and
by the way the same people tomorrow
tomorrow same people okay then we have a
surprise
Thank You mr. Pena
thank you very much pepper the time
[Applause]
