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Dan Pena's 50 Rules For Success

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Dan_Cardone

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I had to be the passenger in a long car ride recently and came across a Dan Pena video. Decided to take some notes on it as I watched.

For some reason the video gave some of his success tips out twice but gave them different numbers. So, in reality there are closer to 40 here but whatever... I took notes on them in the order the video presented them. Figured it may be helpful to someone here.

  1. Practice success before you are successful.
    1. Go sit in expensive cars and tour fancy houses. You need to experience what wealth is like.
    2. Having high self esteem is vital to wealth accumulation.
  2. Follow what you are passionate about.
  3. Surround yourself with great people.
    1. You are who you hang around with.
  4. Perfection equals paralysis.
    1. Roll it out, see if it works, and then make changes.
  5. Focus on the few, not the many.
    1. Don’t focus on to many things at once.
  6. Believe passionately.
    1. If you dont believe with all your heart then you wont go the extra mile.
  7. What gets measured gets accomplished.
    1. Keep people accountable.
  8. Just do it.
    1. Take risk and swing for the fences.
  9. Be extremely positive.
    1. The most contagious thing in the world is a negative thought. Avoid them.
  10. Love yourself.
    1. You cant love others until you love yourself.
  11. Focus
    1. Intense focus can lead to lots of results.
  12. Make some money.
    1. Money allows you to create more money.
    2. Money gives you the freedom to do whatever you want and chase your dreams.
    3. “If you don’t think money can buy you happiness, you don’t know where the f*ck to shop.”
    4. Without money you cant help anyone.
  13. Push through failures.
  14. Find a mentor.
    1. You must make an effort to find the right mentor.
  15. Stop wasting time.
    1. Do a time audit on how you spend your time. Keep track of every minute of the day until you get a handle on it.
  16. Live up to your potential.
    1. Less than 1% will live up to their potential.
  17. Work hard!
  18. Take action!
    1. Go out and make something happen!
  19. Have high expectations.
    1. "No matter your IQ no one can be 100x smarter than you. So then why can someone have the same business as you yet their business be 100x bigger. THEY THINK BIGGER!"
  20. Don’t overthink things.
    1. "The answers to running and growing a highly successful business are out there. You likely already know them. Just f*cking follow the process."
    2. People refuse to believe how easy it is to make million s because they overthink. Overthinking leads to overcomplicating.
  21. Keep on going.
    1. “It's not what happens to you in life, its how you interpret what happens.”
    2. Let adversity make you stronger.
  22. Dont care what others think.
  23. Dont be an expert.
    1. When Dan got into the oil and gas industry he knew NOTHING about it. Didn’t stop him from making millions.
    2. Google, Amazon, Youtube, Forums, etc, are all filled with knowledge. Don’t let the lack of knowledge on something hold you back.
  24. Be tough as nails.
    1. Elon Musk, Steve Jobs, Henry Ford… they all had to sleep on floors and do degrading things to pay rent at times. It didn’t kill them because they were though.
  25. Just f*cking do it.
    1. Stop procrastinating.
    2. Yes, this has already been on the list but its important enough to be said twice.
    3. No excuses!
  26. Be a warrior.
    1. Be a warrior, not a whiner.
  27. Leave your comfort zone.
  28. Love what you do.
    1. “You must love what you do because you are going to have to put in WORK. [audience member ask about 4 hour work week] I know Ferris and if you believe he only works four hours a week then I have a bridge to sell you.”
    2. It gets old quick if you dont love it.
  29. Turn your life into a process.
  30. Seize the opportunity.
  31. Surround yourself with greatness.
    1. You are the sum of your five closest friends.
    2. Find smarter people and make them part of your circle.
    3. “Show me your friends and i’ll show you your future.”
  32. Minimize your regrets.
    1. “One of my biggest regrets is I didn’t set my goals high enough.”
  33. Be a high performer.
  34. Press the envelope.
    1. Physically, mentally, and financially.
  35. Find mentors
    1. Go where there are people you want to be like.
    2. You only get once chance to make a first impression.
  36. Build good habits.
    1. Excellence isn’t a single act, its a habit.
  37. Take action.
  38. Want it bad enough.
    1. You must want success as bad as you want to breath.
  39. Be an eagle.
    1. “If you cant be alone then something is wrong with you.”
  40. Dream big!
  41. Always play to win.
    1. Often when people start to get success that stop playing to win and start playing not to lose. They get scared.
    2. You must start playing to win all the time.
  42. Have high standards.
    1. There was a skinny kid that was competing in archery tournaments. He never placed higher than 22 because he had trouble pulling the bow string back. Dan asked him how many arrows he fired a day in practice. The kid said 30 - 50. Dan told him to bump it up to 500 a day and he would win. Year later he took first place.
  43. Focus on the few, not the many.
  44. Work hard.
    1. “This is no work life balance. There are only decisions and we must live with them.”
  45. Be tough.
  46. Be willing to make sacrifices.
    1. Most people want success but few of them are willing to do what it takes.
  47. Love yourself first.
  48. Have a dream.
  49. Dress well.
    1. First impressions count! Dress VERY well.
  50. Just do you.
 

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jesseissorude

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imo, everything this dude says is "Live, Laugh, Love"-tier, but he's loud and has a fancy french-cuff suit on so people assume he's right.

None of the info he gives is groundbreaking. He just delivers it in his own way. A very distasteful way, if you ask me, but some people who aspire to have that bizarre "f*ck you" persona eat it up. If you are one of those people and he motivates you to get off your a$$, then more power to you.

That said, in all the videos I've watched and notes I've taken... nothing he's said was super actionable (other than "buy my next course" ha!).
Once you are motivated by him or any other "rah rah" guru (Seth Godin, for example), you're better off settling on your business, running some tests, and picking up a book on a topic you need to work on like copywriting, FB ads, UX design for your website, etc.

TL;DR - good to get motivated to do something, but don't get stuck in a loop watching his vids without taking action. Get out and try to make 3 sales on whatever your project is within the next week

Huge kudos for sharing your notes, though! They are simple concepts, but a quick review on them periodically is always helpful.
 

Devampre

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Nice list.

His book, "You're First $100 Million" touched on most of these. You can also get pretty much everything he teaches over at his website free at the "QLA for Dummies" section.

I think he's someone to consider listening to if one plans on acquiring a business using OPM. He doesn't market trendy business ideas like most modern gurus. Although, some people he has mentored are doing exactly this.
 

Ismail941

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Dan Pena is the only guy tell people when they ask for free programs:
If you can't purchase my programs, torrent it from internet server!
 

Kid

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Dan Pena is the only guy tell people when they ask for free programs:
If you can't purchase my programs, torrent it from internet server!
That's a pretty good case of being self aware :D
 

Ahash31

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Not sure what you guys are talking about, Pena doesn’t sell any courses he gives them all away for free. Everything he teaches is free on the internet. He actively discourages attending the castle seminar because it’s all for free on his website, but if people are willing to pay who is he to say no? Sounds like jealousy lolll.

Although his 50 keys to success listed here are generalized... He teaches buying businesses using 100% commercial debt with the leverage of experienced executives that you have recruited to be apart of an executive team. Buying 2-4 (or more) businesses in a similar field, rolling them up into a single unit, and then exiting.

Although he seems to be getting flack here for some reason his system of building wealth is absolutely fast lane. Buy businesses from motivated sellers (boomers on their death bed, no succession plan etc) with bank money or even seller financing, leveraging the experience of others whom you’ve recruited by offering a percentage of profits (a chairman with 30+ yr experience, CFO, COO if you need, In house legal.. etc) running the businesses lean then selling. It’s simple to explain and talk about but not easy to executive.
 

Ing

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I ve read these rules already.
I don’t remember every book, in which are several of them, but the when the first book of them was written , ww ll hadn t begun yet.

nice list though.
 

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