Dan Pena – The 50 Billion Dollar Man Review

Dan Pena needs NO introduction or explanation but for those of you who still don’t know who The 50 Billion Dollar Man – Daniel S. Peña Sr. is, let’s start by saying that Dan Pena is WITHOUT A SHADOW OF A DOUBT the most successful business coach on the planet.

Dan Pena net worth - Brian Rose Mitja Dolinsek

Brian Rose from London Real with Mitja Dolinsek and Daniel S. Peña Sr.

The short story is that Dan Pena turned his company public on his 39th birthday and made upwards of 400 million dollars. Dan is the founder of QLA – “Quantum Leap Advantage” methodology and now famous for his $20,000 Castle Seminar and Your First 100 Million limited edition book.

Dan Pena has a lot of famous and very successful mentees. Over the last 25 years, Dan has created around 800 billion dollars in equity and value with them and will probably soon become The Trillion Dollar Man.

Dr. Klaus Kleinfeld, who is also a mentee of Dan Pena has created the largest deal in the history – it is worth 500 billion dollars. For more information about “the Davos in the desert” deal click here.

The material that Dan Pena teaches is NOT for people that want to make a million dollars. Quantum Leap Advantage methodology is only for high-performance individuals who want to make at least 10 million dollars! The quickest that anyone has done this entire process is Dan Pena who has done it in about five months.

The QLA method requires a lot of emotional strength because a lot of things can and probably will go wrong – and you will have to handle it!

Even people that attend his famous castle seminar still mostly give up. All QLA castle seminar mentees get a free yearly mentorship from Dan Pena personally, however, his mentorship is very challenging for most people. They have to submit their reports of what they did on a weekly basis and do exactly as Dan Pena tells them – if they fail to do that (because they are either too lazy, lose motivation or are afraid to step out of their comfort zone), it is all over for them!

Around 20 people attend the average Quantum Leap Advantage castle seminar, but after six months, only 1 or 2 may still attend Dan Pena’s meetings and submit their reports – pretty much everybody eventually drops out. His QLA method is really NOT designed to be mainstream because it requires a lot of self-discipline, self-esteem, and a large emotional bank account that 99% of people don’t have.

Dan Pena Quantum Leap Advantage Methodology is quite simple to understand and it seems pretty easy if you logically think about it, however, it is a lot harder to do!

Dan Pena gives all of his products away for free!

Dan Pena QLA Plan Overview

Keep in mind that most people fail but the people who make it work, succeed beyond their wildest dreams!

If you want to have a huge business that will make you at least 10 million dollars, it does not make sense to do it entirely alone. You will need to get a chairman and a board of directors or advisers, lawyers, accountants, etc. You need the best people that you can possibly find!

The founder of The Blackstone Group, which is one of the biggest multinational private equity firms said that if you hire employees that are “perfect 10’s” you can build a great company. If you hire 9’s, you are still able to build a good company but if you decide to hire 8’s he does not know how to build a company. With the QLA method, you are going to need the best of the best employees!

You always start by picking an industry – you can also follow a few models. The first one is starting from scratch – you can pick for example social media and start a social network like Mark Zuckerberg did. The other models include acquiring existing companies, which is actually a much easier way! A chance for success is bigger if you get yourself a company that already works than it would be if you start with nothing. However, the reward will be bigger if you do it with a start-up company (build it all the way up from nothing like Facebook or Google)!

Some industries are better to pick than others, here are a few of them:
Healthcare is a great choice because it is an extremely important part of the society, life expectancy is increasing, people want to live longer and are ready to pay a lot of money for expensive treatments. Some studies show that more than 70% of all the money that is being spent on healthcare is spent in the last 4 months of the individual’s life.

Technology is also a huge industry that is rapidly changing and expanding – there is a lot of money to be made here! These are Dan Pena’s favorite top two picks:

  • healthcare
  • technology.

Of course, if you are already an expert in the real estate industry or you love restaurants, pick that industry because you will spend A LOT of time there!
If you choose to start with a start-up company, you are going to need an idea. This might not be a simple task but it’s also not a difficult one – if you go to Silicon Valley, you will find people with thousands of great ideas that they would like to execute. In case you chose to acquire a company, the best suggestion that I can give to you is to pick a fragmented industry that you will be able to consolidate – the strategy here is to acquire 20 or 50 companies, consolidate them together to get a huge company, and then sell it to an industry giant – in the technology industry you might get acquired by Facebook if you are big enough. If you chose healthcare you can consolidate a lot of clinics or dentistry and sell it in one big package.

If you just go to Yellow Pages, you will see thousands upon thousands of businesses that are currently in fragmented industries and that you can consolidate into one giant company!

In order to achieve that, you will need smart experienced people and a lot of capital! In order to get all of that money, you will need to have a great perception! Perhaps the easiest strategy to raise that kind of money is to associate yourself with people that have already done a lot of business very successfully in the past. If potential investors look at your board and they see Bill Gates, Mark Zuckerberg, Jeff Bezos, and Warren Buffett sitting there, you will get all the money that you need. Even if these superstars don’t come up with something incredibly innovative, they would still probably at least break even to pay off their investors! If these famous entrepreneurs, however, do win, then as Dan Pena would say – you would make so much money that you would not be able to count it, you would have to weight it!

The question at this point is – how do YOU get your chairman, board of directors, accountants, and lawyers?
Start with an anchor chairman – this means you should get a chairman with a proven track record, who has already achieved a lot. He has to be an incredibly successful person. It also helps if your chairman already has some experience in the industry that you are entering. You should make a list of the top 50 people in the industry that you chose and try to get one of them to be your chairman.

This is when that statement that I wrote, in the beginning, becomes true – it is very simple to logically understand why you need a highly-successful chairman, meeting these top 50 people and getting rejected countless times is another story. Your offer to these people is around 25% of your company and you are NOT asking for any money in exchange for that equity – you are giving them free equity in your company which is why you are going to get their interest.
These wealthy individuals get offered a lot of things all the time, which is why you MUST stand out – and turning down one-quarter of a company that they can get without any investment is not that easy to do – especially if they see you as a highly motivated high-performance individual who never gives up. In most cases, you are going to remind them of themselves when they first got started.

There are a lot of techniques that you can use to get in touch with them: personal gifts, “accidentally meeting them” in their favorite places, seminars, conferences… It would be awesome if you could further build up a stronger relationship with them, however, that is easier said than done because they must be extremely busy (if you try to call them you might have to go through several assistants and other gatekeepers).

When you get your chairman, roughly 50% of the recruiting work is already done! Getting other people to join your company is much easier because they might “falsely” believe that your chairman did a lot of research on the topic and already knows how to do everything – for example let’s say you get Bill Gates as your chairman. Other people would love to join that company even if Bill Gates doesn’t really know how to make this work yet.

The next step is to get 3 to 4 board of directors. If you are building this company in the US, you should instead get board of advisors for legal purposes, when you get sued (and you will because it’s almost impossible to build a big company without any litigation). If you really want to be a billionaire or have at least 100 million dollars, you will almost certainly get sued. Dan Pena is very comfortable being sued and so should you – get comfortable being uncomfortable!
That part is not as difficult in Europe, so you can get a board of directors rather than advisors if you live in Europe. Every member of the board should get anywhere from 2 to 5% of your company depending on how active they will be.

If you get someone just so he can build your perception through the roof because he is well known and it makes your job easier when you show your list of directors to investors, then you might only give him 1%. If someone will be extremely involved in your business, you might also consider giving him 10% of the company.

The chairman and board of directors/advisors will NOT be involved in your business in terms of day to day management. You will only have around 4 meetings per year with them. In some of those meetings the entire board is going to meet and in other meetings perhaps you will just meet with somebody 1 on 1 to ask for advice. This process is not very fast, it will take some time to put your dream team together.

After that, it’s time to get your lawyers and accountants. You will get them on “success fee” basis – they will only get paid when you acquire a company. This strategy is not very common when you are small, but in the big business world, this is how it’s done! If they don’t want to do that, it means that they are not taking you seriously.

If they only want to work with you on an hourly basis, that means that they don’t care if you win or lose or they don’t think you will make a lot of money and they think you will only waste their time – the strategy that the QLA method suggests is that they only make money when you make definitely is definitely the way to go!

Dan Pena often lets you know that you should join the business clubs that you can’t afford and that don’t want you! The same principle applies to your dream team, lawyers, and accountants. Don’t get random people that say “yes” to anyone, really get the best of the best!

You don’t want to get any red flags regarding your financial situation and audits – you also want the best legal advice that you can’t possibly afford!

At this point, the question is – how do you make money with the QLA method?
When you are acquiring a new company, you need to borrow money – if the company is worth a million dollars, you always raise more than that, let’s say you raise 1.8 million dollars.

You use 1 million to buy a company and $800,000 is working capital. If you have 50% of the company, 50% of the working capital basically goes to you – this is a bit oversimplified because you might want to keep this money for other expenses but this is roughly how it works – if your chairman has 25% of the company, he gets $200,000. Some companies that you are going to acquire are going to be very expensive – perhaps you will raise 20 million dollars and 5 million of that will be working capital, so you will make 2,5 million by acquiring that company.

The second way to make money is with dividends. The companies that you acquire will be well established so that you will be paid in dividends for some of them.
And the final way is when you go public – when you acquire hundreds of companies and put them all together, that giant company is worth more than the sum of the individual companies – when you sell your stocks, you get more money than you had before you went public now that the company is worth a lot more.

That is it!

People frequently say that they would like to keep all the equity for themselves rather than giving it away, so here is a question for them – would you rather have 100% of a million dollar company or 50% of 50 million-dollar company?

The answer is very obvious – it is improbable that you will build a giant company on your own without any track record because people won’t trust you as much as they will trust your chairman and board of advisers.
“Perception is reality” – that is what Dan Pena teaches us! You will get to IPO or get investors much quicker if you have a famous dream team around you that banks and investors already know.

Dan Pena also teaches us that we have 2 bank accounts:

  1. Financial bank account
  2. Emotional bank account

The financial bank account is now big enough if the emotional account is not big enough – if the emotional bank account was big enough, you would be able to implement QLA methodology fully and make millions! This entire process takes anywhere from 3 to 7 years to complete at which point you can do it again.

I first heard about Dan Pena from my first mentor Matt Pocius, who went to the $20,000 castle seminar three times which is one one the significant factors why Matt was able to become a millionaire at the age of 18 and became known as The Youngest Highest Paid Internet Marketing Consultant In The World.

Want to meet and network with billionaires in person? Mr. Anthony Ritossa organizes several events per year that are being attended by some of the wealthiest businessmen and family offices in the world – feel free to learn more about the event HERE.

Dan Pena $20,000 QLA Castle Seminar Mentees

  • Ron LeGrand (USA)
  • Deann and George Verdier (USA)
  • Bruce Whipple (USA)
  • Bodo Schaeffer (Germany)
  • Lucinda Burke (USA)
  • Casey Stephenson (USA)
  • Sally Hall (UK)
  • Tony Ward (Ireland)
  • David Abingdon (UK)
  • Shawn Casey (USA)
  • Ted Nicholas (Switzerland)
  • Heiko Faass (Germany)
  • Thelma Box (USA)
  • Armando Garcia (USA)
  • Andrew Reid (Canada)
  • Dr. Bernie Shindler (USA)
  • Don Taylor (USA)
  • Kenny Scott (UK)
  • Stephan Gomoll (Guernsey)
  • Des Vadgama (UK)
  • Ed Taylor (USA)
  • Nese Martin (UK)
  • Emerson Brantley (USA)
  • Craig Hofman (USA)
  • Gerard Hofmeijer (Netherlands)
  • Jose Alvarez (USA)
  • Arni Sigurdsson (Iceland)
  • Michael Pilarczyk (Netherlands)
  • Stuart Goldsmith (UK)
  • Leonard Nock (USA)
  • Oliver Schmalholz (AUSTRIA)
  • Robert Maier (GERMANY)
  • Frank Slangen (Netherlands)
  • Winneke Liefbroer (Netherlands)
  • Colin Chapman (Netherlands)
  • Ruben Navarrette (USA)
  • Casey Stephenson (Canada)
  • Brian Rose (UK)
  • Martin Heller (UK)
  • Doris Primicerio(USA)
  • Dan Lok (Canada)
  • Tim Cohn (USA)
  • Fidel Vargus (USA)
  • Nick Galtos (Australia)
  • Christian Bailey (UK)
  • Jim Ehretsman (USA)
  • Ray Rock (USA)
  • Des Vadgama (UK)
  • Dale Bullough (USA)
  • Tom Winkler (USA)
  • Ante Perkov (USA)
  • Steve Grey (USA)
  • Matt Pocius

Would you like to attend one of our Family Office Conferences? Click here to learn more!

To learn more information about Dan Pena, visit his Wikipedia page here.

Your Quantum Leap Action Plan

  1. Growth
  2. Working capital
  3. Financing – Internal
  4. Acquisitions – External

The fastest Quantum Leap Advantage Action Plan that was done by Dan Pena himself was done in 5 months and made him 50 million pounds. One of his mentees has done it in around 7 months.

It all depends on how big your emotional bank account is – a few people are able to ask hundreds of people very quickly and get their chairman and the board fast! Others get discouraged because they were rejected once or twice by a few people that they respected.

It is not easy to find someone who will trust in your vision even when you have no money and track record but if you stay focused and move from one rejection to the next without any loss of enthusiasm – it will happen!

After you have the board, the most important step is to get the first deal – the first acquisition. After that, you have a track record and everything seems much easier.

The most important part of the board or “the dream team” is to get a credible chairman that you do NOT have to explain about because he has already accomplished a lot in the industry. People who already have the money can just buy a credible board which is a lot easier.

The principles of raising capital apply regardless of the number of employees. Dan Peña learned most of them while having no employees. The first year in business Dan made $50,540,000 in revenue by himself – with NO employees!

Dan Peña made over 300 one on one financial presentations on five continents and has been turned down more times than anyone. There is always a financial institution somewhere that will finance a deal regardless of how “weird” the deal might be.

When a bank opens a new branch, that branch has no customers. Dan always got the money from the brand new branch because they have the money and they need customers. New banks are even better because by definition – they have no customers!

Most people are begging banks to give them a loan while the correct approach is to interview the banks. There has never been more money and fewer people with fewer deals – the banks are absolutely flushed with cash but most people are not aware of that fact because they never ask for any money!

“If you are not making at least two financial presentations per week, you are pissing into a hurricane.”

Dan Peña talks to three bankers per week just to practice even when he is not looking for money.

If you are asking for money that you need for a project today, you are wasting your time! You must interview banks for future financial representations rather than seeking for money when you need it more than you need blood in your veins. If you need money today, it may be too late.

The correct approach is to tell them that you are interviewing several banks in order to find the lowest interests and the best chemistry with a bank. In reality, we will pick the bank that gives us the money even if there is no chemistry.

Historically through conventional wisdom, we have been told that bankers and lawyers are a taboo – nobody wants to negotiate their interest rate on their mortgage or loans. Most people would rather jump off a bridge than to negotiate with financial institutions.

Do NOT EVER take the financial plan with you in the interviewing process! After you have narrowed down the selection to just a couple of banks, let them know that you are in the process of doing the second round of interview and that they made the cut. After that, send them “the package.”

The package consists of resumes of your dream team, their record of accomplishment (track record), and a mission statement on a single page (“Our goal is to dominate this industry in this location”). Raising capital without a dream team is a lot harder – GET A DREAM TEAM!

After the banks have been able to assimilate the package, have another meeting with them. You are going through a filtering process – at this point, only one or two banks might be interested in you.

At this point, you can ask the banks questions such as – “what kind of services can I expect for my employees, myself, and my directors?” They should offer season tickets for sporting events.

Some banks will not want to go through an interviewing process – do NOT talk to these banks.

Everybody gets turned down for financing – even Dan Peña and Donald Trump. If you have never been turned down, you are not asking for enough money! Do not be proud about working with the same bank for decades without being turned down – that is pathetic!

“The cost of education is nothing compared to the price of ignorance.”

Just think about all the deals, all the money, all the opportunities that you have let slip through your fingers. All the preconditioning in your life is wrong.

Champagne wishes and caviar dreams – if you want anything less, this is not for you.

Credit cards are not the same as the line of credit – even children can get credit cards. Unless you find a way to flip real estate without having any money, you will always need the skill of raising capital.

The correct approach is to use the fishing nets instead of fishing lines. Some people are fishing with a line but without a hook, while others actually have a hook on the line. Not many people fish while having bait on the hooks or with fishing nets.

Dan Peña’s strategy is to have a fishing net across the entire river while not letting any fish escape. That is a completely different strategy than most people have. Most people are afraid to make fifty offers a week because they do not know what to do if the offers would be accepted.

People just keep buying and learning more products instead of just taking action. Instead of making a few offers, you should make hundreds of them every single week. Seminars, books, and podcasts will not help you if you do not take action.

If you do not do something within the next 21 hours, you will never do anything.

People who have never done anything even remotely close to what Dan Peña has done teach most of the seminars and programs. Mr. Peña raised billions of dollars even when you could not raise money. Dan raised it in the energy industry when a barrel of oil went from $45 to $8 and energy companies were going out of business. He went to other continents to raise capital – Australia, Chile, Japan, and China. He took the cheapest plane and even a boat to get there. Dan Peña was always willing to pay the price – if you are not willing to pay the price; you are wasting your time.

The banks have a lot of money and they are waiting for people with deals to ask them for it. It is no different from standing on the street and asking hundreds of women to come upstairs to your bedroom – there will always be women who will agree to your deal.

You do not have money for your projects because you do not ask for it! You do not ask for it because you do not believe in your projects enough. If you do not believe it enough, the banks know that you know that the banks know that, and that is what you do not ask. You know what their answer is going to be.

If you do not match Dan Peña’s enthusiasm, the chances of you getting capital out of financial institutions are zero!

The banking industry has changed – the money is there and interests are lower than they ever were! Do not worry about the money, worry about the deal. You must believe in your deal enough to ask at least two financial institutions every week until you get what you want.

The best-looking girl in school never had a date because everybody was too afraid to ask her.

One of Dan Peña’s friends wanted to own a part of the NBA team – Los Angeles Lakers. When he called the majority owner Jerry Buss, they got to spend an afternoon with him. Jerry told them that they were the first to call him in over twenty years!

Many people have Dan’s number but he very rarely gets a phone call. People are just too afraid to call and ask for something. He spends a lot of time at the airport and driving from the airports back to his home or hotels, which is a great opportunity to talk to him about business. Nobody calls him or offers to pick him up.

When you borrow money, borrow a lot of it. If you need $10,000, borrow $50,000. When you have problems and you have borrowed a lot of money, you also have partners. Always leave some margin on the deal for errors because there will normally be errors – man plans, God laughs. If a few percents kill your deal, throw it away.

It is better to turn the key on the deal while it is in concept than trying to make a bad deal better. Dan can also be a financial angel but if he puts up all the money, he wants 85-95% of the deal and gives the founder a year to prove that the deal is worth keeping alive.

Most people cannot manage and Dan realized a long time ago that he should not manage day to day because he is a big picture/concept man. You probably will not find financial angels because you do not ask because you either do not believe in the deal enough or do not want it badly enough.

When two banks merge, they adapt their lending philosophy to one of the banks. That is another great opportunity to get funding. If a new bank comes to town, you should sleep in a tent the night before the opening to be their first customer!

If Dan Peña still calls the banks when he sees an opportunity like that, what should you be doing? Dan practices everything that he does. He practiced asking out girls and he practiced making financial presentations by answering every possible tough question that a banker might ask. Be well prepared!

Practice just like athletes and musicians practice their skills. Again, if Dan Peña practices talking to bankers and giving seminar speeches, what should you be doing? You can always get better.

When a banker declines Dan’s offer, he responds: “This is a travesty, Mr. Jones. You have shareholders and a board of directors that you have to report to – you cannot allow a loan of this caliber to slip through your fingers.”

If a financial institution wants a part of the action/equity, you know that your deal is good!

You are only guessing how much money you need – you never know for sure. You must always borrow more money than you think you need. If you think you need $50,000, you probably need $250,000. If you think you need a million, you probably need three million.

Financial estimates are a wild guess.

The United States of America is not the only financial playground in the world. If nobody in the US wants to loan you the money, go somewhere else.

During the interviewing process, you are going to develop a relationship. Some banks do pool lending and it is very important that you are talking to the person that can actually make a decision.

Some of the very important questions are:

  • What is the lending limit of the financial institution? Asking that question will separate you from 99.99% of the people that the banker has ever talked to. Most bankers never heard that question in their entire career.
  • What is the secured and unsecured limit of your bank?
  • What is your lending limit? (lending limit of the banker that you are talking to) How much can you sign off without asking your superior?

If the banker has a $50,000 limit, you are asking for $48,000. If his limit is $25,000, you are asking for $24,950. If the banker cannot make the decision on his own, do not talk to him. ALWAYS TALK TO THE DECISION MAKER.

Your deal is probably not good enough to compete, which is why you need to have the decision to be made on a local basis. Banking is about personal relationships. If you have chemistry with the banker, you will get the money easier and will be given some room for error because they trust you.

Dan Peña has never written a business plan. Come empty-handed to the first bank meeting – no business plan.

Dress for success – white shirt, no jewelry, and a business suit. It is a lot easier for the banker to give you money if you look just like him – mirror him.

Banks lend money to people with a chain of successful transactions. You get a record of successful transactions instantly by collaborating with somebody – get a partner.

Get partners by offering equity in your deal. Once you complete your first deal, you can use the track record in the next deals.

Your dream/vision must be extremely clear. If it is not clear, the person on the other side of the table can instantly see that. They know. They feel comfortable if they know that you are the person who will do whatever it takes to pay back their money. If you do not believe with all your heart that this is your vision and that you are willing to die for it, then the lender thinks that you will quit. The banker must know that you will always go the extra mile for your deal to happen!

If you lack the passion to do so, turn the key and walk away. Look for something that you passionately believe in. Everybody can find something like that.

By auditing financials, you double the opportunity to get the money. If you have audited financials from the big six, you add another 25% to that. In small towns, one banker must know that you are seeing another banker.

The Secured Lender is the financial bible for financial institutions. Subscribe to it. IRA – individual retirement accounts are also a great source of lending.

If you are not willing to put your personal guarantee on the deal, do not bother going to the banks. Everybody will have to put everything they own on the line for collateral – the vast majority of the deals cannot stand on their own.

If you do not believe in your deal enough to put your neck on the line, the banks will not either. Dan Peña has been financially dead five times and put all of his assets on the line more than ten times.

If there is no outside interest in the deal other than your family (brother, mother), that is a red flag because you might only convince your family members to trust you, which is not a good strength indication of the deal. People like to see more than one last name on the page.

Even though nobody needs a business plan, everybody will probably create it. You can do that with a computer in ten minutes with certain programs/software.

Dan Peña recommends that you ask a banker for a copy of a proposal that has passed the criteria and successfully got the funds. That way you do not have to write a business plan. Most bankers will proudly give a template like that away and probably even brag that they got the deal to work even if it should not work. Sometimes they will tell you the name of the dealmaker that got the funding.

In that case, you can just call that person and ask him all the questions about how he got the funding.

Role-playing is very important when practicing to speak with bankers. When you call the bank, ask them to speak to the senior lending officer. Practicing for four hours before having the interviews will make you much better.

“This is Dan Peña. Is your bank in the lending mode?” – Dan asks them right away! He does not waste time by having meetings that might not lead to anything.

“I am looking for a new banking relationship. I am new in town and I am interviewing banks.”

Banks will come visit you. Preferably, they will visit you at your accountant or your lawyer’s office. Act professionally as if you did it thousands of times before.

Raising money is perceived as one of the hardest things to do. The opposite is true. This is one of the easiest parts of being a high-performance individual. However, raising capital is one of the most important skills because virtually everybody needs money to get the deals done.

“Conventional wisdom is almost always wrong.” – Dan Peña

Dan does not look for the things that are currently for sale. He just looks at the things he would like to buy. You can make people sell things they do not want to sell.

Using the full financial orchestra will make your growth geometrical rather than arithmetical. You just have to go where the money is – most deals can be funded on a local level with small city banks. You just need to sell them your passion and enthusiasm for the project.

Unfortunately, most projects have not been well thought out. The bank wants to hear that the money will be paid back no matter what. Dan Peña always returned the principal. He might not return it when he said he would or he would not pay the interest but he always paid the principal back.

Dan Peña reads Fortune, Forbes, Wall Street Journal, LA Times, Financial Times in London, and The Economist.

The banks will treat you better if they think you are more sophisticated. You become more sophisticated to financial institutions by talking to a lot of them.

Most people would beg all day for the money, however, the meeting should only be about 30-45 minutes long. Let the bankers come to your office, your accountant’s office or your law firm’s office. You can stack the meetings one after the other, so the next banker sees the previous banker leaving your office.

“Absence of evidence is not evidence of absence.” – Just because you have never seen something like that, it does not mean it is not possible. The problem is that every single person intellectually understands what Dan Peña says and what they should do but they cannot write a huge emotional check and do what Dan tells them to do.

Your first bank visit should be to a bank that is least likely to give you money. Let them tell you how you could make your presentation better (get some feedback from them). Learn from your mistakes that you did in the first few meetings with banks that would never lend you any money.

Dan Peña can certainly do all of those things faster but none of those things are difficult. You just have to expand your emotional bank account and act as if there are no limits to your abilities.

Dan is one of the best sellers that you will ever see – he sold insurance, real estate, stocks, bonds, companies, banks, and big concepts.

People with bad credit must collaborate with somebody who has a good credit. Credit does not apply to other countries – if you are willing to pay the price, you can fly to South Africa and get a loan there because the credit score does not matter there.

Your presentation must be based on questions that they will say “yes” to – “you are in a lending mode, aren’t you? You have granted loans like this before, right? You have the authority, correct?”

That is why you must ask them for a template of a loan that they approved in the past and that they said “yes” to already.