1. (http://www.danpena.com/qla-podcast-links/)
(http://www.danpena.com/seminar/)
(http://www.danpena.com)
ISSUE #16
The tactics of survival backed by a sound Personality Development Plan
A proper personality development plan backed with a sizeable amount of experience a lot can be
achieved. Most often there is a tendency to take the easy way out as it justifies any self-serving agenda.
To gain that extra edge, as part of a personality development plan there has to be an uninhibited nature
to be mentored by experienced personnel. Mentoring offers advice continuously as high performance
people understand the tactics of survival. But sometimes being prepared for the unexpected makes
perfect sense as things can get unpredictable in business.
Despite having a personality development plan a lot depends on the significance of the problem.
Realizing what is right and wrong and going beyond the actual dispute makes the big difference. This is
recognized by people with high performance careers irrespective of economic circumstances.
Today litigation has been accepted as a business tool and with exorbitant court costs most opt out of
this approach not because of financial weakness but because the emotional bank account runs out way
before the financial one. Acceptance is difficult on this issue and can be outside the comfort zone.
Everyday worldwide many deals are struck. Most of them are cleared for various reasons but they are no
longer expeditious or convenient. Further, accomplishments are always perceived differently and life is
fairly simple. Overall, it reflects on the personality development plan where honoring the promised word
makes a difference though it can be difficult.
From Dan Peña – "The Money Messiah" and Mentor/Coach for The New Millennium
Dear Friend and Subscriber:
"Duty – Honour – Integrity"
2. As I sit here in Amersfoort, Holland, watching the snow fall, answering E-mails and faxes during a break,
I reflect on why I’m here, and more important, how I got here and what my readers could learn from this
experience.
Recently, Dec. 11th 2000, my young and inexperienced partner and I closed on an acquisition here in
Holland. Due to the VC, the assets of this 120-year-old company were purchased in a way that wasn’t
envisioned and necessarily good for all directors except the founder. Fortunately, they believed in him
because he had dealt in confidence! (I wonder why?) I presume they felt since they hadn’t met any of the
directors (through a quirk of fate) or me, it was easier to deal with the young founder only. They had only
met our accountants and lawyers who, probably, took the easy way out since they hadn’t been paid in
more than two years. As you know, most people will almost always take the easy way out and can justify
any self-serving agenda.
The original corporate set-up [never memorialized] had to be abandoned. The new entity was set up in a
hurry and couldn’t be documented since it was agreed 48 hours before the close; i.e.: proper ownership
was not recorded in the way previously agreed. So, potentially two years of work could be taken away
from the other Board Members because the VC didn’t see any use for them in the deal, especially since
nothing was in writing. In fact, they didn’t want me in the deal either for the same reason. Now that they
have met me, they don’t love me, but they do see and understand why my young Dutch partner wouldn’t
let the deal go forward without me! He introduces me as "my Mentor and Chairman"! I actually like that
title!
My partner strongly said "Dan’s in the deal at 35%". The deal closed with considerable change at the
holding company level. The other Board Members got their shares, and my ownership was upheld and
only now is being documented after the fact.
The moral to this story is my 29-year-old partner upheld his original agreement as had I for more than
two years. There were no changes to our deal, even under great pressure to him, i.e., imagine the entire
deal collapsing because you kept your word! Notwithstanding it took him 26 months to close his first
deal I continued to advise him because he continued to listen to me. A deal is a deal is a deal – as you’ve
heard me say ad nauseam! Whether written or a handshake. High performance people don’t change
deals in good or bad times. Though people will advise, quietly, to do so. High performance people fight
for what is theirs even if it costs them dearly.
Unfortunately all business experiences don’t always turn out this way. In recent days two business
relationships I am in have turned, potentially, in the wrong direction. One is significantly more important
and therefore could present a large problem. One is extremely well documented and one is much less
well documented. One has permutations beyond the actual current dispute. One is based on greed and
one is based just on naivete – in fact, one is based on plain stupidity!
Deals are made countless times in a career. Some will be well documented and some not at all. High
performance individuals don’t change deals, irrespective of economic circumstances. I’ve stuck by and
honoured deals that have cost me many, many millions! I’ve had to keep people honest in court while
making sure I, nor my partners, didn’t get the bad end of the deal on many occasions!
You know I’ve said "Litigation is a Business Tool" and I’ve taught that concept at universities on both
sides of the Atlantic. Most of the time you will not have to go to court, but you must be willing to do so.
Today, with court costs high, most opt to not take this approach, notwithstanding it is best. You can say
most people are weak, financially speaking. That’s incorrect! As you’ve heard me say, "People’s
emotional bank account runs out way before the financial one". Most people don’t have the stomach! It’s
out of their comfort zone. My experience vis-a-vis comfort zones is women are willing to stand on moral
3. issues more than men. Women fight harder! Women are tougher! If men had to give birth, there would be
a lot fewer people – I can assure you! I can just imagine some of the men I know carrying a baby! Forget
About It!
Deals are made every minute of every day – Worldwide. Not all are upheld for various reasons – but a
common thread is they become no longer expeditious or convenient. It’s like your Significant Other
getting fat, wrinkled and/or infirmed, or a little daft in the head! People come up with all kinds of reasons
why they no longer have to, let alone should, honour the agreement/deal, i.e., he/she really didn’t
accomplish what we agreed upon, etc., etc. Accomplishments are always perceived to be much less in
hindsight! Life is fairly simple if you always honour your word and I can assure you – it will not be easy!
To Your Quantum Leap,
Dan.
P.S. While dealing with the Onassis Group, I never had a written agreement! Countless transactions were
completed. And, as those of you that know the story, I was only financially hurt when the Vatican was our
partner and didn’t pay. The CEO of the Group – Constantine Gratsos (my mentor) had warned me to get
paid all the money up front. I didn’t listen and it was a $250,000 bad experience I couldn’t afford! When a
mentee doesn’t listen to me, I always think of that expense.
P.P.S. I’ve just entered into, potentially, a $500 million transaction with a partner I’ve been involved with
for seven years. We have never had a written agreement. It’s not likely we’ll get one in time for this deal
either, but, as he said, he "trusts me and I’ve always been fair!" That wouldn’t be a bad thing to have on
my tombstone.
P.P.P.S. I’ve just been informed my litigation record went to (and I’ve really lost count) about 280 wins and
0 losses. A case the partner in the above P.S. and I have fought for almost two years was adjudicated in
our favour today. I stand to get, probably, no money out of the deal. As indicated, over two-thirds of my
litigations have been over principal not money! This fight has been for the "others" involved in the
multimillion dollar transaction. As usual, the bank and the other wealthy individuals in the deal were the
only ones to show interest. Of course, they were fighting for their own interests!
P.P.P.P.S. Remember as promised, as part of the new QLA Millennium Internet Format, a ‘Free
Consultation Program’ was initiated — 01/01/01. Once a quarter, the subscriber who introduces the
most new subscribers to the newsletter, will receive one hour’s FREE consultation. THE NEW
SUBSCRIBER MUST MENTION YOUR NAME AND SUBSCRIBE VIA MAIL@DANPENA.COM. This one
hour consultation [worth $3,000.00], can be used in parts, or all at once over a given year. Alternatively, it
can be used to reduce the cost of any QLA seminar.
Monthly winners of the introduction program will receive my best-selling book "Your First 100 Million"
FREE –a $400.00 value.
Yearly winners will receive a FREE three-day "Executive Castle Seminar" at Guthrie Castle — a $9,000.00
value.
In addition, for every "Your First 100 Million" purchased via my website, a 10% discount on the
"Executive Castle Seminar" will be given.
All the above incentives are exclusively for the benefit of QLA Internet Newsletter subscribers ONLY.
Specifics on the new QLA Millennium Internet Newsletter program will be posted on my website SOON,
but the race began 01/01/01. Questions can be forwarded to: mail@danpena.com
4. Learn more about The 7-day
Quantum Leap Castle Seminar
This entry was posted in Newsletter (http://www.danpena.com/category/newsletter/). Bookmark the permalink
(http://www.danpena.com/newsletter/issue-16/). Follow any comments here with the RSS feed for this post
(http://www.danpena.com/newsletter/issue-16/feed/). Both comments and trackbacks are currently closed.
Comments are closed.
Comments RSS Feed (http://www.danpena.com/newsletter/issue-16/feed/)
First Name
Last Name
Enter email
Subscribe
(http://www.danpena.com/the-financial-wizard/)
5. (http://www.danpena.com/seminar/)
First Name
Last Name
Enter email
Subscribe
We Respect your Privacy
(http://www.danpena.com/blog/email-subscription-
privacy/)
(http://www.danpena.com/blog/email-subscription-
privacy/)
(http://www.danpena.com/blog/email-subscription-privacy/)
SITE CATEGORIES
Articles (http://www.danpena.com/category/articles/)
Blog (http://www.danpena.com/category/blog/)
Blog Archive (http://www.danpena.com/category/daily-blogs/)
Dan's World (http://www.danpena.com/category/dans-world/)
From the Book (http://www.danpena.com/category/from-the-book/)
Newsletter (http://www.danpena.com/category/newsletter/)
Podcast (http://www.danpena.com/category/ask-the-50-billion-dollar-man-podcast/)
![As I sit here in Amersfoort, Holland, watching the snow fall, answering E-mails and faxes during a break,
I reflect on why I’m here, and more important, how I got here and what my readers could learn from this
experience.
Recently, Dec. 11th 2000, my young and inexperienced partner and I closed on an acquisition here in
Holland. Due to the VC, the assets of this 120-year-old company were purchased in a way that wasn’t
envisioned and necessarily good for all directors except the founder. Fortunately, they believed in him
because he had dealt in confidence! (I wonder why?) I presume they felt since they hadn’t met any of the
directors (through a quirk of fate) or me, it was easier to deal with the young founder only. They had only
met our accountants and lawyers who, probably, took the easy way out since they hadn’t been paid in
more than two years. As you know, most people will almost always take the easy way out and can justify
any self-serving agenda.
The original corporate set-up [never memorialized] had to be abandoned. The new entity was set up in a
hurry and couldn’t be documented since it was agreed 48 hours before the close; i.e.: proper ownership
was not recorded in the way previously agreed. So, potentially two years of work could be taken away
from the other Board Members because the VC didn’t see any use for them in the deal, especially since
nothing was in writing. In fact, they didn’t want me in the deal either for the same reason. Now that they
have met me, they don’t love me, but they do see and understand why my young Dutch partner wouldn’t
let the deal go forward without me! He introduces me as "my Mentor and Chairman"! I actually like that
title!
My partner strongly said "Dan’s in the deal at 35%". The deal closed with considerable change at the
holding company level. The other Board Members got their shares, and my ownership was upheld and
only now is being documented after the fact.
The moral to this story is my 29-year-old partner upheld his original agreement as had I for more than
two years. There were no changes to our deal, even under great pressure to him, i.e., imagine the entire
deal collapsing because you kept your word! Notwithstanding it took him 26 months to close his first
deal I continued to advise him because he continued to listen to me. A deal is a deal is a deal – as you’ve
heard me say ad nauseam! Whether written or a handshake. High performance people don’t change
deals in good or bad times. Though people will advise, quietly, to do so. High performance people fight
for what is theirs even if it costs them dearly.
Unfortunately all business experiences don’t always turn out this way. In recent days two business
relationships I am in have turned, potentially, in the wrong direction. One is significantly more important
and therefore could present a large problem. One is extremely well documented and one is much less
well documented. One has permutations beyond the actual current dispute. One is based on greed and
one is based just on naivete – in fact, one is based on plain stupidity!
Deals are made countless times in a career. Some will be well documented and some not at all. High
performance individuals don’t change deals, irrespective of economic circumstances. I’ve stuck by and
honoured deals that have cost me many, many millions! I’ve had to keep people honest in court while
making sure I, nor my partners, didn’t get the bad end of the deal on many occasions!
You know I’ve said "Litigation is a Business Tool" and I’ve taught that concept at universities on both
sides of the Atlantic. Most of the time you will not have to go to court, but you must be willing to do so.
Today, with court costs high, most opt to not take this approach, notwithstanding it is best. You can say
most people are weak, financially speaking. That’s incorrect! As you’ve heard me say, "People’s
emotional bank account runs out way before the financial one". Most people don’t have the stomach! It’s
out of their comfort zone. My experience vis-a-vis comfort zones is women are willing to stand on moral](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)