From Dan Peña – Executive Coach and Mentor for The New Millennium
Dear Friend and Subscriber:
Earlier this month before the stock market crash of 2001, I had, for the first time in a while, an opportunity to meet with a few old friends I’ve known for more than twenty years each. Though the day started with a meeting with one of my US bankers, the rest of the day was filled with friendly, yet substantive discourse.
I had lunch with one of the long time Trustees of my trust, a former partner with one of the largest law firms in the US and now a senior officer with a huge international asset management firm in LA, Being a lawyer/accountant, very bright and trusted, he was a natural choice to be a Trustee. I was proud he accepted many years ago. We have known each other since about 1974. Over the years I have considered his advice extraordinary yet very practical. If reasonably large sums of money need management and estate planning, I’d recommend him and his firm in a heart beat. We discussed my trust and some things I had in mind and life in general.
My next meeting was in Century City (LA) with a former protégé at Bear Stearns, who handles money on an individual and corporate basis, I remember helping bring him to The Bear in the 1970’s as a young recruit. He is now closing in on 50. While having a cup of coffee and talking about old times, he reminded me of some of the things I did as a younger man which, candidly, I had blocked out of my mind. More importantly, he gave me a yearly accounting of a partnership we have been part of for more than twenty years. He handed me the check and I was duly impressed for two reasons: (1) its size, since I had forgotten about it even being owed, and (2) we have never had a written agreement in all these years. The only argument we’ve had is he believed our partnership began twenty-one years ago and I know it’s been at least twenty-two. I would also recommend him without hesitation. We discussed a potential new business partnership he would like to open in the UK, an exclusive retail store that’s worked in LA.
The last meeting was also in Century City with a lawyer and partner I’ve also known for twenty years. He, like the above two men, is very successful and has been with me through thick and thin. In fact, he has seen more of the thin side of my life because he has represented me in countless transactions, including many lawsuits. I’m not really sure if we have ever had a real written agreement in our nonlegal business endeavors. And again, I’d recommend him for sage legal advice including litigation.
All this comes to mind, and as I write this letter – now that my family member is getting better – when I try and count the disputes I’ve had and currently have with various individuals. I ask why have these three relationships stood the test of time? What did I do differently?
In reality I don’t know, though I didn’t always agree with them, I always liked them as individuals, had fun with them, respected them, and, more importantly, trusted them completely!
It’s funny what you think about when you have some extra time on your hands, as I have had in recent weeks. I, along with my family, have made some fairly dramatic decisions which directly affect the remaining years of our lives. No, I’m not becoming a priest or a vegetarian! Nor am I going to stop writing newsletters . . . though, based on the recent screw up in the transmission of Issue #18, a few of you might consider that a good thing!
I’ll write about the changes in the weeks and months to come – but it revolves around one of my favorite precepts: high performance people focus on the few, not the many!
Until the next newsletter, I bid you a good fortune and good luck, especially if you are invested heavily in the stock market! I’ll write about the current economic condition in the near future, but the New York Times headline for Sunday, March 18, alludes the bull market that began August of 1962 is over. They must have read my last newsletter!
To your Quantum Leap,
P.S. Don’t misunderstand this letter. I have many undocumented business relationships with men and women all over the world. These are merely three of the oldest. And speaking of old, I have one dating back to 1962 with an MBA – a curmudgeon friend whom I recently saw for golf and dinner with my son Derrick. This guy makes me look like Mr. friendly Personality. He makes me seem like I have no opinions! And I’d recommend him for MBA-type management consulting with no hesitation. He enjoys telling people what they don’t want to hear and I’d trust him with my life!
What I’m trying to say is when picking business associates/partners, I believe a good criterion is "Would you be happy to share- a foxhole in war with them – male or female?" I believe it’s a great testament I can recommend all people I’ve mentioned. Even using this benchmark, you’ll have problems, as with any relationship.
P.P.S. The Guthrie Group has accomplished some good things already in this new year. And as soon as I can (due to confidentiality, etc.), I’ll write what can be done. in a short time frame when absolutely laser beam focused.
P.P.P.S. For those of you who haven’t checked, there are now three (instead of one") Test’s for Success on my website. The best scores will be eligible for free QLA prizes as well.
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 QLA Millennium Internet Newsletter program are posted on my website. The race began 01/01/01. Questions can be forwarded to: firstname.lastname@example.org