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Your First 100 Million by Dan Pena

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Forbes

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I'm currently reading this and it's blowing my hair back. It's a fun read and the author has a no holds barred style writing. The beginning starts talking about that super success is not for the touchy-feely and big sacrifices need to made to acquiring mega wealth.

Book highlights:

- exponential business growth through deals and acquisitions
- building a dream team of experienced veterans with excellent track records
- Getting a mentor
- raising capital and financing your dreams

note: with the price tag of $400 this might be the most expensive wealth business book out there
 
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Forbes

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^ i'm not done with it yet but it's a hard slap in the face. I have become too comfortable in my life and thought that i everything would just fall into place. If your goal is just extra income, this is not the right book for you.

The author tells you brutally that you will need to sacrifice a big chunk of your life to gain mega wealth. There really is NO secret to it - whoever works harder and longer gets to the top. Intellect/IQ does not make you wealthy.

What makes Pena different is that he made his money from actual business from scratch and not through selling books or seminars like most success gurus. He did it all during a recession like we're going through

Currently I'm interviewing financial institutions to raise more capital for my business. It's a computer help website with phone, chat and email support.
 

mrgoodcat

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$199 here.


So Forbes, what makes what this guy has written any better than anyone else? What of his strategies have you implemented and how has your life changed?

^ i'm not done with it yet but it's a hard slap in the face. I have become too comfortable in my life and thought that i everything would just fall into place. If your goal is just extra income, this is not the right book for you.

The author tells you brutally that you will need to sacrifice a big chunk of your life to gain mega wealth. There really is NO secret to it - whoever works harder and longer gets to the top. Intellect/IQ does not make you wealthy.

What makes Pena different is that he made his money from actual business from scratch and not through selling books or seminars like most success gurus. He did it all during a recession like we're going through

Currently I'm interviewing financial institutions to raise more capital for my business. It's a computer help website with phone, chat and email support.


I found it free (pdf version) here:
[MODERATOR DELETED]

It is a super interesting read, although its really long. I would suggest it if you have a lot of free time or bored.
 
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BPA

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Great first post mrgoodcat! ++speed for the link. I'll give this a read and see if it's really worth the high price tag.
 

mrgoodcat

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Great first post mrgoodcat! ++speed for the link. I'll give this a read and see if it's really worth the high price tag.

Lol thanks..I was reallly expecting to get the post deleted and me banned. Since it was a sketchy rapid share link, and i'm a new member! However I thought it would be worth while to save some members a few hundred bucks that they could put back into their business.
 

FDJustin

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I'm still waiting to see what happens. This isn't exactly a warez forum, so I don't expect it to go over well, even if there are individuals who'll appreciate the opportunity to get something they might not be able to / bother to otherwise.
 
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mrgoodcat

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I'm still waiting to see what happens. This isn't exactly a warez forum, so I don't expect it to go over well, even if there are individuals who'll appreciate the opportunity to get something they might not be able to / bother to otherwise.

Of course.. I was just waiting for "that guy" to show up!!!
 

BPA

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I'm still waiting to see what happens. This isn't exactly a warez forum, so I don't expect it to go over well, even if there are individuals who'll appreciate the opportunity to get something they might not be able to / bother to otherwise.

I think many of the members on here are highly skeptical of Forbes and his mentioning this guy in every thread he's posted in, and are also highly skeptical of a product that sells for 20x more than comparable products without any foreseeable reason. Personally, I feel that this Mr. Pena is scamming innocent people out of their money. But that is only my opinion, and I can definitely understand why some would disagree.
 

Jonleehacker

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The post shoud be deleted - stealing copyrighted material is against the law, bad business and you are reinforcing within yourself that you are a loser who can't afford to pay for things of value.
 
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FDJustin

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I think many of the members on here are highly skeptical of Forbes and his mentioning this guy in every thread he's posted in, and are also highly skeptical of a product that sells for 20x more than comparable products without any foreseeable reason. Personally, I feel that this Mr. Pena is scamming innocent people out of their money. But that is only my opinion, and I can definitely understand why some would disagree.

Forbes doesn't seem to mention it in many posts (skimmed through his posting history, so I may have easily missed it)... From what I've seen, this is a community where people are only really trusting of results. If you pick up a book and think it's gold - that's good. If you pick up a book, apply something within it and know that it works, it's gold.
Until then words on a page are just a quick buzz that may or may not be valid, and they may be very limited to who they're valid for.

Whether or not it's a scam depends entirely on the validity of his claims, and what he's put into the work.

I don't know why you suspect he's scamming. If it's based on price, then... Gouging might be right, scamming might not. A scam is when someone lies or feeds you garbage and makes you pay for it.

Mr. Pena might very well feel that $400 is a good price for it based on how much value he thinks he's put into it, and what people are willing to pay for information products he's competing with...
After skimming the introduction I see he claims to have made very large number of business actions and been at it for 25 years. That he's made many many millions, etc, etc. So to him $400 for his advice is probably validated so long as he's all he claims to be.

I won't likely be reading it, so I won't likely know if it's worth anything (to me) or not. This decision is completely ego based; I feel I know everything I need to know for my current state of being. Right now I'm not successful, not because I don't yet have the knowledge necessary. There's no lack of idea, or method that I need. (Except there will be methods I need along the way, but these will most likely relate to what I'm doing specifically). Right now my problem is that I haven't properly instituted "being what I wish to become." yet.

Anyway... This post is getting long simply because I feel like talking. :p I better channel the focus into defining what I wish to become so I can begin living it.
 

PaulRobert

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Of course.. I was just waiting for "that guy" to show up!!!

Yup, I reported you because I thought you were posting some spam. Even though your intentions were good and you wanted to help, I agree with JonLeeHacker. That .pdf is a form of piracy. And I do not do anything that is illegal, especially when it comes to buying music, movies or books on the internet. People have put their time, effort, and passions into their product and sell it on the internet.It's like shoplifting, but with a mouse and keyboard instead of your pockets and slick hands. If you were in Dan Pena's shoes and saw the link you posted, I'm pretty sure you would be PMing the mods to take it down. Also, post a intro in the Intro section, so we can welcome you.
 
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LightHouse

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Mrgoodcat, is the previous "aptohosting"........ not sure if you all picked up on that, he is not a new member.
 

Luke12321

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If I recall correctly, that was his AIM screen name. That don't make it him but before I got down to this post...I was wondering if it was him. So much for intro's....I guess.
 
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Runum

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If I recall correctly, that was his AIM screen name. That don't make it him but before I got down to this post...I was wondering if it was him. So much for intro's....I guess.

Ahhhh now I see. Thanks Luke, you are probably right. Apto, a response? PM sent.
 

MJ DeMarco

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The link to the pirated copy has been deleted ... I certainly wouldn't want my book on there whether it be $19.95 or $400.
 

Russ H

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Mr. Pena might very well feel that $400 is a good price for it based on how much value he thinks he's put into it, and what people are willing to pay for information products he's competing with...
After skimming the introduction I see he claims to have made very large number of business actions and been at it for 25 years. That he's made many many millions, etc, etc. So to him $400 for his advice is probably validated so long as he's all he claims to be.

I won't likely be reading it, so I won't likely know if it's worth anything (to me) or not. This decision is completely ego based; I feel I know everything I need to know for my current state of being. Right now I'm not successful, not because I don't yet have the knowledge necessary. There's no lack of idea, or method that I need. (Except there will be methods I need along the way, but these will most likely relate to what I'm doing specifically). Right now my problem is that I haven't properly instituted "being what I wish to become." yet.

Wow, this statement took me completely by surprise.

I've been at this 20+ years and feel like I know very little.

Each day the rules change a little.

And each day is a new learning experience for me! :banana:

-Russ H.
 
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FDJustin

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To Russ:

Oh, there's no doubt some very good information that can seriously help me. I just don't think I'm really at a spot where I can properly absorb and use it.

So I'll feel like I know all I need to know until sometime down the line (probably not that far) when I get lost or confused and feel like I know nothing again.

It might be silly, but it's not really a bad thing. I read too much as it is. Look at just about every new post on these forums, have 18 tabs open in chrome currently, and I probably spend more time reading every day than I do everything else combined. So the current bit of ego will help me focus away from research and focus more on doing.
 

Russ H

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FDJustin-

DOING is by far the best way to learn.

But having a voracious appetite for learning new things will never serve you wrong-- UNLESS you postpone DOING for just passively reading about new things (what folks in my family of educators call "professional students" ;) )

-Russ H.
 

365

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I've read his book, let me see if I can give the nutshell overview.

His approach to business and entrepreneurship is that of a dealmaker (for those who are familiar with WealthDynamics). He made his money through acquisitions, raising equity and debt, joint ventures and partnerships and going public.

He is a child of the buyout boom of the 80s and the method he teaches relies on leverage, acquisitions (leveraged buyouts) and dealmaking/negotiating skills. Some of his stuff is great (how to deal with bankers, attitude towards accountants and lawyers, personal attitude towards success). Then again, buying businesses and borrowing huge amounts of money is a) risky and b) definitely not a strategy for beginners.

It sounds easy when you read it. I've listened to a tape of his from the mid 90s where a girl was working with him and making leveraged acquisitions of trailer parks to 'consolidate the industry'. Her company went bankrupt a couple of years later..
 
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FDJustin

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Thanks for the overview 365. And yeah, I completely agree Russ. Though if I got paid just to spend my time reading, that would be pretty swell.
 

aptohosting

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Ahhhh now I see. Thanks Luke, you are probably right. Apto, a response? PM sent.


Yep, I know "mrgoodcat" as he works in the same office as me however I don't need more than one screen name!

Tom
Apto Hosting
 

kwerner

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note: with the price tag of $400 this might be the most expensive wealth business book out there


Being expensive doesn't necessarily make it good.

Want a good book? Pick up "What Rich People Know & Desperately Want To Keep Secret".

Not too long ago it was listed on Amazon for 44 cents. One of the best business books I've ever read.
 
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ITA

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I think many of the members on here are highly skeptical of Forbes and his mentioning this guy in every thread he's posted in, and are also highly skeptical of a product that sells for 20x more than comparable products without any foreseeable reason. Personally, I feel that this Mr. Pena is scamming innocent people out of their money.

I see where you are coming from but you are jumping to conclusions. I don't know Forbes but I've read Pena's book (yes, a pirated version) and listened to some of his seminars. It's absolutely great stuff. And most importantly, very original advice compared to what else is out there.

Want a good book? Pick up "What Rich People Know & Desperately Want To Keep Secret".

I'm half-way through that after seeing it recommended here. It's certainly a good book, but not half as good as Pena's. The originality factor just isn't there. Most of "What rich people know" is a compilation of good advice you've read before (the author even says so in the intro). Whereas very few people know the info that is in Pena's material. That's why it's such a slap in the face and it sticks in your mind.

I've listened to a tape of his from the mid 90s where a girl was working with him and making leveraged acquisitions of trailer parks to 'consolidate the industry'. Her company went bankrupt a couple of years later..

I listened to this as well. I wonder where she went wrong, it did seem like a great business model...what do you think?
 

365

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I listened to this as well. I wonder where she went wrong, it did seem like a great business model...what do you think?
I don't know what exactly went wrong but in last consequence, the companies she had acquired could not meet the interest payments.

Making a leveraged buyout is inherently risky. And risk includes default and bankruptcy.

If you are interested in this kind of business, start reading up on how the really successful ones did it. Read the book about KKR he recommends ('mortgaging American business'). Check out what companies like Blackstone, TPG, Carlyle or Cerberus did. What businesses did they buy - which ones where successful investments and which ones turned sour? Another one would be Platinum Equity. The guy came out of nowhere and built an empire within 15 years. Stunning success as of today.

Shoot me a PM if you want to discuss in detail:smxB:
 

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