Dan Pena's system

[eliquid]

Hi,
Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?
I have heard him a lot on youtube but I can not see the overall process. He searches for a motivated seller and then builds a dream team etc.
But how can he be sure that the business will scale? He has to scale it otherwise the exit price would just be the same as the acquiring price.
How does he scale?
/Mr_G

Thanks for shedding some light on this.
I listen to him on youtube and also to his audiobook, but the full process is never explanied in a simple form. The book is in story-form. On youtube he does not talk much about the process itself, but more about wrestling with lions.

The idea is very smart. So the business value is increased beacuse of higher margins after merging if I understood it correctly. But if you want to merge a company, who gets paid? If you buy a company you have to pay upfront what the company makes in one year x 10. So the pooling of resources and cutting costs have to compensate for it in some way.

Yes, I have seen it. Does the video tell that Pena's model is not working?

That is not true. It is stated very clearly that this system works with no money. You have a dream team that works for you and you do not pay them upfront with money. And also, you borrow the needed money from banks, and the interest rate will be covered with cash flow, as I understood it.

Is that so. Are all mergers kind of hostile takeovers? Will the other company know beforehand about your plans to lay people off?

So he is not improving the companies in thereself? What about the biggest deal ever made by one of his mentees, a future city Neom in the deserts of Saudi Arabia:

Saudi Arabia's Neom is a $500B futuristic city being built in the desert — but it could morph into a surveillance dystopia

Saudi Arabia has called its giga-project Neom, a new city 33 times the size of New York City, "the world's most ambitious project" — and it sounds it.

www.businessinsider.com

...how did that happen, any takeovers of companies here involved? I guess it is easier to make deals with states/goverments as their spendings looks different.

Well


Pena is proud of what he have accomplished, and he says that pride is what drives him (and not greed). That makes me think that he does not tolerate slander. We all have something to hide, and for Pena he can hide in his CASTLE.

I watched Pena's comment on the situation in the youtube video. He said that the guy was an old mentee of his. He could not find the track record because he looked at the US stock exchange, and not the UK's. I have not investigated it myself.

Pena says that 99% of all the people that he has helpt he never even met, meaning they do not attend the seminar but take part of his material on distance.

Your number 4. "Improve it" and 5. "Sell it or expand it" comes back to my initial question.
There are already lots of businesses everywhere. If I buy a dry cleaning shop, how would I be so much better than every other existing dry cleaning shops? Why does not all existing businesses go "Pena-style" and increase their growth exponentially and sell it?

A comment to an earlier reply: Pena says that his system is based on no money, and he has mentees all over the world.

I can totaly buy that my local dry cleaning guy does not care about expanding his business or doing any visualisations and affirmations between customers, nor attending any selling course.

I guess it is the bank's money, since Pena is so much into pitching banks. But you can still do this when broke, beacuse you borrow the money.

I will have to look more into his material. I do believe that building a dream team can be helpful for anyone. And, if I am correctly, he gives them part of the business instead of paying a payroll. So this would also be in the "no money".

Well supposedly, Josh Kim's only assets were a 15 speed bicycle.
Your dream team will give you the credibility/track record. Also Pena is for "Perception is reality", meaning dressing and acting more succesfull than you reallly are.

Do you know Pena's system? Are you using it? If you are not using it, that has to mean that you either do not believe enough in yourself or do not believe in the system.
If you know Penas's system, where can I learn it? I know he has a book, but I am not sure the information is extractable from it, like, what he did was custom made for him and would not work for someone that did not wrestle with lions or was run over by a buffalo.

For someone that does not know Dan Pena ( met him, ate dinner with him, work with him, etc ) and hasn't been through his course and pretty much watches his YouTube Videos ( this is marketing used as an upsell ) and listened to his Audiobook ( again, another marketing upsell ).... You sure do defend him a lot and know more than us about how the system works.

So tell me why you want us to divulge to you in detail what you wrote in your OP -

"Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?"

Why be here, if you know more than us and more about Dan Pena and defend his systems so hard?

When you can assembly a Dream Team of professionals that will work for you, FOR FREE and convince banks to give you potentially hundreds of thousands or millions of dollars while broke.. then you should worry about how Dan Pena's system works.

No Dream Team pro is going to work for free ( especially if you don't have the millions from the bank yet ), and no bank is going to give you millions when you are broke ( especially if you don't have a Dream Team ).

With that, who cares how the rest of the system plays out?

You need to get to 1st base. Stop worrying about 3rd base until then.

 

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[Raoul Duke]

Hi,
Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?
/Mr_G

Sure.

While we're doing that.

Do you want us to feed you?

Wipe your a$$. After you take a shit?

Clothe you?

Brush your hair?

Brush your teeth?

Caress you and whisper sweet nothings in your ear?

Do your OWN due diligence.

 

[Deleted74338]

Hi,
Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?
I have heard him a lot on youtube but I can not see the overall process. He searches for a motivated seller and then builds a dream team etc.
But how can he be sure that the business will scale? He has to scale it otherwise the exit price would just be the same as the acquiring price.
How does he scale?
/Mr_G

Dan Pena is a fraud, I have to laugh whenever I hear his name lmao.

 

[ApparentHorizon]

Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?

no.

I've wondered this as well, so I hope someone here can shed some light on it...

He says he recommends growing by acquisition, though. So that suggests he doesn't make a single business better, but rather merges it with more businesses.

Does that make the result worth more than its parts?

Apparently, but I have no idea why.

It's called a roll up, and it happens all the time in the vc world.

I read his book and it's a fantastic read. He definitely stretches the truth on basically all of his stories.

See next comment...

But how can he be sure that the business will scale? He has to scale it otherwise the exit price would just be the same as the acquiring price.
How does he scale?

You pool the resources together and cut costs. Imagine having a person answering the phone. Half the time they're just sitting there. Now span that across 3 businesses. 3 people can be cut down to 1, by optimizing the calling process, and they only answer the phone for 1 business, at 3x the size.

 

[Ronak]

It's been 3 months since you posted here. In that time, you could have taken action, failed, adjusted, taken more action, failed again, taken a break, mourned your failure while playing video games for a week, then tried again, failed again, then readjusted, and possibly have some first level success by now

Just do it.

 

[ReeZ]

If you do the work, Pena's stuff works. Pretty much like any other system/framework. Getting spoon-feed isn't the way to go though. Do the investment to attend his seminar if you want to do it.
- That is to buy and sell businesses.

You are asking a lot of faulty questions based on your limited knowledge of his system/framework.

"How does he increase the value of the business?"
Well. What kind of business is it? How can value get added to that kind of business, in that industry? How big is it? How many employees have the needed expertise? How much of it is systemized or automated? Can he cut costs in any manner and increase profits - thus value?

All these are relevant and needed to answer the first question. "How can one increase the value of a business" is such a broad question it's impossible to answer.
What's right for business A can result in bankruptcy for business B. So without having specific details into a deal/business it's impossible to answer. That is not to say you should provide any specifics now for the sake of the thread, but rather do your research in Pena's stuff or any other "guru".

The trillion-dollar man is marketing. His real net worth isn't even over a billion. Dismissing someone based on their marketing isn't a smart practice. Likewise trusting someone based on their marketing is a bad practice.

As for a short-framework how this all works is
1. Find a business to buy
2. Get help with buying it (lawyers, loans, etc.)
3. Buy it
4. Improve it
5. Sell it or expand it
6. Repeat

As for the morality or ethics of his system all comes down to you. You can screw people over, and you can provide value and help them. What you decide to do comes down to you.

 

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[Odysseus M Jones]

Dan Pena's System
Dan Pena's System
Dan Pena's System
Dan Pena's System
Dan Pena's System
Damn Penis System
NLP?

 

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[Xeon]

Don't waste time on these BS unless you've tons of $$$ to acquire companies in the first place.

A prime example is EIG, in my industry. They bought a bunch of website server companies and ran raids on them. Gutting every "unnecessary" process, product and person, to extract as much money as possible.

EIG's name and a lot of the brands under them are all well known to be shitty to anyone with an inkling of awareness of the hosting world.

 

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[Neko]

I may know more then you about the system, but not enough to act on it. I only know one bit here and there. I guess I believe in the system...he has teenagers doing it.

So maybe someone can outline step one, how do you get a dream team and the money?

Peace

Did you read any of MJ’s books?
What are your motivation for doing this? Getting rich?
What experiences do you have?

I’m going to be blunt.

You sound like a naive young man. Stop drinking every words that’s coming of Pena’s mouth. Start thinking for yourself. Why do you think he is selling high ticket courses? To help you become rich? No. It only helps him pay his castle so he can scam naive lads like you.

Sharks like him are only in for themselves. What value does he actually bring to the world. Did he made any life better other than his own?

Grow the f up!
Taste the real world. Come back here when you’re more mature.

 

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[ReeZ]

Pena says that 99% of all the people that he has helpt he never even met, meaning they do not attend the seminar but take part of his material on distance.

To my knowledge for Pena to go in detail about "what he does" only happens at his castle seminars. I'm not Dan, so of course, I could be wrong.

Your number 4. "Improve it" and 5. "Sell it or expand it" comes back to my initial question.

There are already lots of businesses everywhere. If I buy a dry cleaning shop, how would I be so much better than every other existing dry cleaning shops? Why does not all existing businesses go "Pena-style" and increase their growth exponentially and sell it?

As I said, there is no "rule" for how to improve the business. Find ways to create more value for other people. In this specific example. Can your dry cleaning business pick up your customer's clothes for a subscription fee? This will get you MRR and lock out your competitors. You can move to a place outside the city (cheaper rent) while having trucks or whatever to pick up the dry cleaning.

How many businesses do you think have heard of Dan Pena? MJ DeMarco? or the TFF forum? Or any other guru doing the same thing? How many business owners have considered the idea of buying up a competitor? Most people don't reckon it as a possibility. Even if they come upon the idea of buying a business, that doesn't mean they know-how, which most don't.

A comment to an earlier reply: Pena says that his system is based on no money, and he has mentees all over the world.

It's no money out of pocket. Meaning your pocket. You can bet your a$$ that there is someone's money going into buying the business. Pulling that off lowers the amount of business you can look at. It limits the number of people you can work with and more variables I don't have in my head right now. Just because you can buy a business without your own money, it doesn't mean that you should.

Saying it's based on no money is misleading and faulty. It's not money out of your pocket. You leverage involved partners and assets to complete a "no money down" deal.

 

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[Knuffix]

Dude, all the info is in the book "Your First 100 Million"... it's free on any torrent site pretty much.

There's also all his old seminars on Dan Lok's channel under the playlist "The 50 Billion Dollar man".

Just read the book, watch the old seminars, take lots of notes and THEN JUST FOLLOW THE STEPS.

(and shut the f*ck up already).

Don't ask anyone to give you any info. Stop wasting people's time with your inane bullshittery.

Report back in a year if/how the system has worked for you or better yet: start a progress thread and take some action.

 

[ZCP]

what happened to being able to learn from anyone?
why so quick to 'completely follow' or to 'completely dismiss'?

for those that have paid for and been through his stuff, could you relay a top 3 reasons / things that would help the rest of us?

let's provide some value in here!

 

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[Mr_G]

Hi,
Can someone please outline Dan Pena's system very detailed in bullet form for acquiring, financing, scaling and exiting?
I have heard him a lot on youtube but I can not see the overall process. He searches for a motivated seller and then builds a dream team etc.
But how can he be sure that the business will scale? He has to scale it otherwise the exit price would just be the same as the acquiring price.
How does he scale?
/Mr_G

 

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[ApparentHorizon]

The idea is very smart. So the business value is increased beacuse of higher margins after merging if I understood it correctly. But if you want to merge a company, who gets paid? If you buy a company you have to pay upfront what the company makes in one year x 10. So the pooling of resources and cutting costs have to compensate for it in some way.

Basically.

He does something akin to a hostile takeover. Buying debts and forcing people out of their companies over threat of bankrupting them.

Not a pretty sight, though the morality aspect is a discussion for another day.

A prime example is EIG, in my industry. They bought a bunch of website server companies and ran raids on them. Gutting every "unnecessary" process, product and person, to extract as much money as possible.

 

[Mr_G]

Don't waste time on these BS unless you've tons of $$$ to acquire companies in the first place.



EIG's name and a lot of the brands under them are all well known to be shitty to anyone with an inkling of awareness of the hosting world.

That is not true. It is stated very clearly that this system works with no money. You have a dream team that works for you and you do not pay them upfront with money. And also, you borrow the needed money from banks, and the interest rate will be covered with cash flow, as I understood it.

 

[Mr_G]

I can totaly buy that my local dry cleaning guy does not care about expanding his business or doing any visualisations and affirmations between customers, nor attending any selling course.

I guess it is the bank's money, since Pena is so much into pitching banks. But you can still do this when broke, beacuse you borrow the money.

I will have to look more into his material. I do believe that building a dream team can be helpful for anyone. And, if I am correctly, he gives them part of the business instead of paying a payroll. So this would also be in the "no money".

To my knowledge for Pena to go in detail about "what he does" only happens at his castle seminars. I'm not Dan, so of course, I could be wrong.



As I said, there is no "rule" for how to improve the business. Find ways to create more value for other people. In this specific example. Can your dry cleaning business pick up your customer's clothes for a subscription fee? This will get you MRR and lock out your competitors. You can move to a place outside the city (cheaper rent) while having trucks or whatever to pick up the dry cleaning.

How many businesses do you think have heard of Dan Pena? MJ DeMarco? or the TFF forum? Or any other guru doing the same thing? How many business owners have considered the idea of buying up a competitor? Most people don't reckon it as a possibility. Even if they come upon the idea of buying a business, that doesn't mean they know-how, which most don't.



It's no money out of pocket. Meaning your pocket. You can bet your a$$ that there is someone's money going into buying the business. Pulling that off lowers the amount of business you can look at. It limits the number of people you can work with and more variables I don't have in my head right now. Just because you can buy a business without your own money, it doesn't mean that you should.

Saying it's based on no money is misleading and faulty. It's not money out of your pocket. You leverage involved partners and assets to complete a "no money down" deal.

 

[ReeZ]

I guess it is the bank's money, since Pena is so much into pitching banks. But you can still do this when broke, beacuse you borrow the money.

Which bank would borrow you money if you're broke or even have bad financials?

Even if you have "ok" or good financials. Which investor or banker would lend you money to buy a business when you don't have a track-record?

 

[Black_Dragon43]

So maybe someone can outline step one, how do you get a dream team and the money?

It's impossible, unless you already have those connections and those people trust you or you can convince them to trust you (you need a reputation for that). So short of fabricating a history for yourself in terms of paperwork, deeds, and achievements (which would be fraud), there probably is no other way to do it except the long and hard way - build connections, deliver value, and all the rest of it.

 

[Black_Dragon43]

Just do what?

Build a dream team, identify a buyout opportunity, and get the money from the bank!

Now of course you'll ask "how do I build a dream team?" and on it will go.

That question does not have a specific answer. There are a billion ways to build a dream team. You could start working in the sector that you're interested in and start developing connections as an employee. You could start a freelance business aimed to help that sector in whatever way you can. You could identify who your ideal team members would be, and then figure out ways to get in touch with them. Figure out companies that they've worked for, maybe try to work for that company, etc. There is no specific way "do this" and you'll have your dream team...

 

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[longjca]

All his stuff is free but the devil is definitely in the details and there are a lot of details.

I find what he and MJ says is true, making money is hard (It's a b*itch!) and don't go fooling yourself that it isn't. Whether you started the company yourself or acquired it from another, it's always going to be hard. Your business is now acquiring other businesses.

Having look up his steps, really what seems the most important is having an expert board (whether you gathered them up yourself or even ask the owner of the business to mentor/teach you). That's the real foundation because how do you get a bank to trust you when you don't have a record, how are you going to run the numbers without a good accountant (and taxes CAN kill), a lawyer to make sure all the paperwork is in order and to back you (we're going up in a generation of sensitive people, you'll probably be threatened A LOT), an executive/expert in the field to guide you when shit happens (and shit will happen), etc. Trust in yourself that you'll learn along the way too but always be aware of your board because if they don't like you at any part before and during, you can get booted penniless.

Also, don't go thinking that making big money through acquisitions is a one shot, one kill. If you dig deeper into his content, you will be looking at MULTIPLE acquisitions because some of your deals are gonna suck. The saying of "you just need one home run" still applies. Just like MJ said in Unscripted , you'll hit a lot of singles but be sure you can hit a homerun, that's the best deal.

I get that Dan does a lot of yelling (and that might just be marketing, chest puffing or however you want to take it) but I like to think he is mostly accurate. (He tells you the 12 steps but it's not a blueprint nor step-by-step. Steps coincide with other steps (ie, when you're looking for financial partners, you got to be looking at deals and people at the same time). You can't be rigid in the steps (which is why he hates engineers because they take too long to analyze and be too careful but once they get it, they skyrocket)).
Unlike every other guru that's all like "it's easy, just follow my pdf" "you don't need college, start here" "just do these simple steps", at least Dan tells it upfront that it's hard and if you're not willing to go to court, don't play. Do something else.
Don't do it if this isn't you. You will take that pressure off yourself and do something that's more aligned with how you picture your life.

Also, I'd be aware of Dan Lok's stuff. His content is good from afar but I recommend don't buy (become the best salesman in 7 weeks when there likely are sales people doing it for years ahead of you. Oh, and how may other people are also in class with you?) I will give him credit that his mindset stuff is good but not different from what MJ said in TMF and Unscripted . The 2 biggest things I got was 1) that you do and buy things according to your IDENTITY, "the invisible force" and 2) listening with intent while quieting your own thoughts and beliefs.
Having made many costly mistakes, if the guru isn't selling how they made their fortune, chances are you won't be making their fortune either. (You'll probably be a test subject for a hunch they have and that'll cost you $$$). I might get some heat for this but he's selling a sales course when we all know he made his fortune through copywriting, why isn't he selling his copywriting then? (like MJ said "why will you sell your golden goose?")

From listening to all these gurus (you basically have to become a sociopath if you follow their lead), I'd would just stick with the principles of TMF and Unscripted . It's the most boiled down principles I've come across. CENTS makes sense.

 

[DavidTT]

If I may; sometime last year I went to an M&A club meeting. Basically an expensive dinner with roughly 20 or so people and having an overview of the M&A landscape here in Canada. The presentation was given by an investment banker. I kinda just made up a few things in order to fit in but there were a few guys managing investment firms there and most of them were talking about what deals they had and what they were looking for. All in the multi-million dollars. One was looking for a possible tech acquisition anywhere between $50-500 million while another was looking to invest anywhere between $4-100 million. Needless to say, my $2.6 million deal was too small lol. There was also an older gent, semi-retired who was on the board of director of 4 public companies and was a Vice-pres of one of the 4 four firms. He had a whole pipeline of deals and everyone was on him lol.

It was an interesting meeting really.

 

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[Captain Acidhead]

I've wondered this as well, so I hope someone here can shed some light on it...

He says he recommends growing by acquisition, though. So that suggests he doesn't make a single business better, but rather merges it with more businesses.

Does that make the result worth more than its parts?

Apparently, but I have no idea why.

 

[Captain Acidhead]

Dan Pena is a fraud, I have to laugh whenever I hear his name lmao.

I don't think so. What are you basing this on?

 

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[Mr_G]

Dan Pena LOL!!!! I call him Little Pena... Peniañeto

View: https://www.youtube.com/watch?v=UahPuCTqNCU

This guy calls himself the TRILLION dollar man. WTF

Yes, I have seen it. Does the video tell that Pena's model is not working?

 

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[Mr_G]

Basically.

He does something akin to a hostile takeover. Buying debts and forcing people out of their companies over threat of bankrupting them.

Not a pretty sight, though the morality aspect is a discussion for another day.

A prime example is EIG, in my industry. They bought a bunch of website server companies and ran raids on them. Gutting every "unnecessary" process, product and person, to extract as much money as possible.

Is that so. Are all mergers kind of hostile takeovers? Will the other company know beforehand about your plans to lay people off?

So he is not improving the companies in thereself? What about the biggest deal ever made by one of his mentees, a future city Neom in the deserts of Saudi Arabia:

Saudi Arabia's Neom is a $500B futuristic city being built in the desert — but it could morph into a surveillance dystopia

Saudi Arabia has called its giga-project Neom, a new city 33 times the size of New York City, "the world's most ambitious project" — and it sounds it.

www.businessinsider.com

...how did that happen, any takeovers of companies here involved? I guess it is easier to make deals with states/goverments as their spendings looks different.

 

[Mr_G]

Sure.

While we're doing that.

Do you want us to feed you?

Wipe your a$$. After you take a shit?

Clothe you?

Brush your hair?

Brush your teeth?

Caress you and whisper sweet nothings in your ear?

Do your OWN due diligence.

Well

No, but what that video tells you is that Pena has something to hide.

Let's be honest here... if you're a 60+ granddad who has been mega successful, would you give a F*ck about what some kid from a uni says?

Pena tells you to have a thick skin, but he himself has a super thin skin. If he is put off by some kid questioning his track record, I don't want to know what his track record really looks like.

So there is something fishy.


That depends on your country and where you're doing this. In my country, no bank will lend you ANY money unless you have the revenue to back it up. And that doesn't mean the revenue of the business you'll acquire, but your own PRIOR revenue.

So how is the situation in Sweden?

No, but what that video tells you is that Pena has something to hide.

Let's be honest here... if you're a 60+ granddad who has been mega successful, would you give a F*ck about what some kid from a uni says?

Pena tells you to have a thick skin, but he himself has a super thin skin. If he is put off by some kid questioning his track record, I don't want to know what his track record really looks like.

So there is something fishy.


That depends on your country and where you're doing this. In my country, no bank will lend you ANY money unless you have the revenue to back it up. And that doesn't mean the revenue of the business you'll acquire, but your own PRIOR revenue.

So how is the situation in Sweden?

Pena is proud of what he have accomplished, and he says that pride is what drives him (and not greed). That makes me think that he does not tolerate slander. We all have something to hide, and for Pena he can hide in his CASTLE.

I watched Pena's comment on the situation in the youtube video. He said that the guy was an old mentee of his. He could not find the track record because he looked at the US stock exchange, and not the UK's. I have not investigated it myself.

 

[Mr_G]

If you do the work, Pena's stuff works. Pretty much like any other system/framework. Getting spoon-feed isn't the way to go though. Do the investment to attend his seminar if you want to do it.
- That is to buy and sell businesses.

You are asking a lot of faulty questions based on your limited knowledge of his system/framework.

"How does he increase the value of the business?"
Well. What kind of business is it? How can value get added to that kind of business, in that industry? How big is it? How many employees have the needed expertise? How much of it is systemized or automated? Can he cut costs in any manner and increase profits - thus value?

All these are relevant and needed to answer the first question. "How can one increase the value of a business" is such a broad question it's impossible to answer.
What's right for business A can result in bankruptcy for business B. So without having specific details into a deal/business it's impossible to answer. That is not to say you should provide any specifics now for the sake of the thread, but rather do your research in Pena's stuff or any other "guru".

The trillion-dollar man is marketing. His real net worth isn't even over a billion. Dismissing someone based on their marketing isn't a smart practice. Likewise trusting someone based on their marketing is a bad practice.

As for a short-framework how this all works is
1. Find a business to buy
2. Get help with buying it (lawyers, loans, etc.)
3. Buy it
4. Improve it
5. Sell it or expand it
6. Repeat

As for the morality or ethics of his system all comes down to you. You can screw people over, and you can provide value and help them. What you decide to do comes down to you.

Pena says that 99% of all the people that he has helpt he never even met, meaning they do not attend the seminar but take part of his material on distance.

Your number 4. "Improve it" and 5. "Sell it or expand it" comes back to my initial question.
There are already lots of businesses everywhere. If I buy a dry cleaning shop, how would I be so much better than every other existing dry cleaning shops? Why does not all existing businesses go "Pena-style" and increase their growth exponentially and sell it?

A comment to an earlier reply: Pena says that his system is based on no money, and he has mentees all over the world.

 

[Mr_G]

Which bank would borrow you money if you're broke or even have bad financials?

Even if you have "ok" or good financials. Which investor or banker would lend you money to buy a business when you don't have a track-record?

Well supposedly, Josh Kim's only assets were a 15 speed bicycle.
Your dream team will give you the credibility/track record. Also Pena is for "Perception is reality", meaning dressing and acting more succesfull than you reallly are.

 

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[JacobBW]

Your dream team will give you the credibility/track record. Also Pena is for "Perception is reality", meaning dressing and acting more succesfull than you reallly are

He’s a big one for using the reputation and connections of the dream team - “if these guys are working on this, it might be worth us considering funding it”.
Also the idea is to have people in the team that know what they’re doing (a finance guy, lawyer, ex-CEO that’s done a bunch of acquisitions, and industry expert etc.) - people to help drive the thing properly.
VERY much making sure you’re not the smartest person in the room.

 

[Mr_G]

Did you read any of MJ’s books?
What are your motivation for doing this? Getting rich?
What experiences do you have?

I’m going to be blunt.

You sound like a naive young man. Stop drinking every words that’s coming of Pena’s mouth. Start thinking for yourself. Why do you think he is selling high ticket courses? To help you become rich? No. It only helps him pay his castle so he can scam naive lads like you.

Sharks like him are only in for themselves. What value does he actually bring to the world. Did he made any life better other than his own?

Grow the f up!
Taste the real world. Come back here when you’re more mature.

Yeah I have read both of MJ's books. They were an eye opener. But you still have to begin from scratch starting a business. Pena buys already working businesses.
You can say that about every self help guy, like Anthony Robbins or whoever, that sells tickets. According to Pena he wants attendees of his castle seminar pay so they have some "skin in the game".
I do not think the money he makes at the castle really matters to him.
Pena has made it in the real world. Self help industry can easily become a pyramide game.
MJ is great and has a direct approach, dismantling the save 10% for 40 years...slow lane approach.
But you can google MJ's and Penas' net worth and see where you would be better off leaning your ladder.