Deal flow management for legal

How to create outlook signature

arguably the two most important things on my side how do you get the money and how do you get deal flow nobody goes to so don't give me that look at this thing like oh that's the only thing I go to First taping of my audio newsletter this evening will be on creating a deal flow what do I mean by ideal flow deal flow or or is a series of transactions that come in to my offices for me now how did I get that deal flow when you go out and you try to implement qla Quantum Leap methodology quantity leave Advantage methodology one of the first problems that you will have is creating a deal flow how do I get people to recognize me as a Shaker and mover how do I get people to to show me businesses that are for sale show me businesses that are are that I can purchase and the way that this is done is that one you are who you hang around with I get a lot of deals notwithstanding I've been in this business for 25 years and I originally from Wall Street I get a lot of deals brought to me because people know that I do deals now for those of you that are neophytes in the audience and most of you aren't you will not have that reputation so how why would a banker why would an accounting firm why would a law firm bring you a deal they probably wouldn't therefore by joining up in a joint venture fashion with somebody that has an existing track record if this gentleman in the front row and I go into business together on a joint venture whether it's 90 10 50 50 60 40 my track record automatically goes to him at these two gentlemen in the front row go into business and this gentleman has a track record for doing business automatically he assimilates he acquires the track record of this gentleman here the way that you acquire deal flow is by going in the initial stages when you go out and are implementing Quantum Leap Advantage methodology is by attracting somebody to be your partner now in the early days of my career one of my first joint venture Partners was a gentleman named Constantine grazos who was the chief executive officer of Manassas Shipping Lines he was the right-hand man of Aristotle nasus if you read any of the books about Aristotle and answers you'll read about Constantine grazos they were raised they were born on the same little island in Greek in Greek excuse me in Greece and they uh they were best friends 60 65 years and when Mr Onassis passed away he assumed the position uh of Chief Executive Officer he was the trustee of the Christina onasset trust well early in my business career in the late 70s I had the privilege of meeting Mr Kratos Mr gratos like me he took me under his wing we became joint venture partners his track record the track record of Manassas Shipping Lines at that time one of the biggest corporations in in on the planet for sure in the United States I acquired that so my deal flow was Mr gato's deal flow so one of the ways when you go out and you read these books by some of the other writers some of the other gurus some of the other speakers the basis of being successful and using their programs is being able to do transactions but before you can do transactions people have to show you transactions people have to show you companies people have to be able to think that you're within the the universe of individuals that can actually get deals done the only way that can happen is if in the initial stages you partner up with somebody Dave reeker and Jose Alvarez our other partner in the same transaction in great wisdom books have acquired my track record you read my profile which is fairly lengthy for starters it lists the governments I've done business with the British government the Japanese government the Yemen government the Chilean government the Netherlands government the Kuwaiti government the Canadian government the United States government the British government Israeli government that's right I'm forgetting some of them okay by definition those transactions that I've done with those governments accrue to Mr weaker Mr Alvarez by definition they are players now I'm not saying that you have to get somebody like me but you've got to get somebody that's more than you for sure that is the first step not the first step one of the first steps another step is to be represented by a big six accounting firm because big six accounting firms by definition will bring you deals last night at my home I went to dinner with Paul Hastings one of the the fifth or sixth largest law firm in the in the country they got 450 or 500 lawyers excuse me Dave Ricker went to dinner with Paul Hastings I went to Darren with omalvin and Myers which also represents me that has five or six hundred lawyers and uh one of the questions that I had another partner of mine uh Cinda Bert who's uh AKA also known as The Butcher of Phoenix he was a young little young woman about this tour who was a pre-med student at Cornell and graduated and decided she wanted to go on to Medical it's going to be a doctor and so she's not in business and she's almost 26 years old and we're in Partnership together we're consolidating the mobile home park industry and she called me this morning because I used to be in the energy business and she says uh Peabody Coal owns this huge trailer park like I'm supposed to know people somebody Peabody call I don't know anybody but I got on the phone I called Arthur Anderson who represents Me the Right Touch represents me Cooper's and lyburn who represent me Warren Christopher sperm our secretary of state who represents me Paul Hastings who represents me Richard Butler one of the largest law firms in here who represents me and I said put on your email I want to know who the hell at Peabody Kohl's in charge of the real estate portfolio because we want to buy their Mobile Home Park that's how you get deal flow this is why I recommend strongly and I suggest strongly when I say suggest I mean suggest means you if you don't do this somebody ought to cut your head off of the ax when I say suggest that's what I mean I would suggest strongly and there's a reason why you pay 30 or 40 premium for big six accounting firms and huge international law firms and the only reason that you pay those kinds of payments is because of further connections when I needed to do business in Chile with the former president of Chile the dictator of Chile Pinochet I call Coopers and lyburn they got me an appointment with the minister of energy and I ultimately met the president it wasn't that I created the deal flow it was Coopers and libren yet most of you have been trained one to use your brother-in-law the lawyer or your cousin who they CPA if anybody that you know calls your account and a CPA he's a hoopers in the library are not called CPAs deloittees are not called CPAs Arthur Anderson is not called a CPA most of you in this room to the extent that you have accountants have CPAs or your cousin fifth cousin twice removed as your lawyer Joe Schwartz single proprietor operating out of his bedroom this is not how you create ideal flow you create a deal for by being represented by Warren Christopher the Secretary of State's law firm omelvity and Myers it has represented me a lot of years and you wonder why you've had difficulty perhaps looking at transactions you hear me talk a lot about transactions I am not a proponent of internal growth all the big money that I've made and all the big money that I've of of my contemporaries the Ross Perot's of this world have been made mostly externally exponentially by acquisition now there are key questions that you ask people that will represent you to create a deal flow one when was the last time you did a deal two I'd like you to give me three four five recommendations or references of people that you have done deals with now this will eliminate those first two questions will eliminate 90 of anybody that you do business with one they haven't done a deal and two well if they haven't done a deal they don't have anybody that they can give you as a reference Banks should be able to give you references on Deal flows when was the last time and don't raise your hand please when was the last time any of you have ever asked your Banker recommend how you can do deals it's not heard of because most of you have what I call deposit relationships you deposit money they sometimes pay you interest they give you no service most of you have deposit relationships deal flow without deal flow without transaction flow Quantum Leap Advantage methodology is dead not only is Quantum Leap Advantage methodology dead virtually any aggressive exponential growth methodology is dead it's about attracting the ambiance the social and economic milieu of a Shaker in mover we are who we hang around with we are what we think about now if that were true I would be a human organ because in most of my life as a male I thought about one thing and I would be in Oregon today and it would not be a male organ I know for sure that you do not become what you think about most I can attest to that but as Napoleon Hill talked about in his book Think and Grow Rich and it's one of the six or seven books that I recommend that you read he talked about a thing called sexual transmutation and that's taking your sex drive as a man he didn't talk about women because he didn't talk about women he wrote the book that sex drive is a man and you're just shifting it I understand we can talk later we can talk later it shifted from your drive as a man your sex drive into business and that's essentially what I did these many years ago now um I have three mentors I have two that are still alive of course the glassos has passed away a number of years ago and my two mentors that are living by definition I have acquired their track record now and it so happens that my success is is is a superseded not superseded but has has grown larger than my two mentors but early in my career the geoflows that I had in the energy business and various other businesses that I've been in were primarily responsible to my association with my two mentors um for those of you that don't have mentors I would suggest that you get them uh you might ask how you get them and you get them by picking up the phone to get them by reading in the newspaper you get them and calling them you get them by aggressively wanting to be a high performance person as a sidebar comment I would I would I would be remiss if I didn't say that 95 percent of the people that talk about being successful it's kind of like some of you are old enough to remember this in the 60s and 70s you can go to a very nice cocktail party and people would be smoking dope grass and I'm not I'm not a proponent of that people used to do drugs in the 60s and 70s people now talk about being or going to motivational seminars reading motivational books because it's Vogue now in the 90s how many of those people that talk about it really sincerely want to be successful I'm here to tell you an infinitesimal amount close to zero close to zero but it's Vogue it's Vogue now to talk about that stuff it's Vogue to come and listen to people not like me because you've never heard anybody like me but it's both to go to seminars and buy books and buy tapes and all that crap that you do I don't do that but I mean a lot of people do so to create your deal flow one it's who you're represented by your lawyers and accountants two who you hang around with three you're really sincere innate desire to be a high performance person and be successful and being successful ladies and gentlemen doesn't come cheap creating deal flow isn't cheap if you're using Arthur Anderson or Melvin and Myers you're paying 30 to 40 percent more than you need to or have to for accounting and legal bills pure and simple what do you get for it well I've already I've already alluded to that you get first class representation one and you get the opportunity to be exposed to the things that will help your business grow for those of you that don't how many have businesses or have been in business how many are just thinking about going out on your own in business okay for the latter group the it's critically important that you get off on the right foot um and the way you get out on the right foot is to have that kind of representation now there is the difference between long-term deal flow and short-term deal flow short-term DFO is some of you are going to keep in contact with one another after tonight long-term deal flow is that you're actually going to do something about the reason you're asked here for those of you that think you can go to 189 seminar and learn the same as a 20 000 seminar you're sick and need help in fact I would suggest to you that there's a bus that comes by here at 11 15. I'll buy you drinks till 11 15 and that you throw yourself under the the leading Wheels because that's crap that's not going to happen it just isn't what are the you know we've alluded to some of the key questions that we we asked professionals and that's you know when did you do deals how many deals have you done Etc but at the end of the day it's a chemistry that you have between the professionals or don't have that will tell you I can in in in Dave and some of the other people have been meetings with me in the audience know that I I pretty much can guess what's going to happen um of course I'm experienced I have made almost 60 000 business decisions in my career 25 years and we're not talking about pencils and paper and I've only been wrong or excuse me I've only been right about 35 000 times so I've been wrong about 25 000 times I've made over 330 or 40 one-on-one Financial presentations and five continents on the planet why I've only been to five continents because there's only money on five the other two don't have spit otherwise I'd be there too I have traveled millions and millions and millions of miles on airplanes I was one of the first million mile Advantage American Airlines whatever that program's called in the early 80s I've made over 250 000 business calls I've spent close to Ten Thousand Nights traveling or days not nice traveling I've been in over 5 000 meetings that's how you create deal flow most of you in this room are not willing to pay that price to action for those of us that are overweight in the room we know how to lose weight less calories more exercise right but then why are there so many large asses in the room you have to be Einstein to figure out how to lose weight the answer is no because we don't want you bad enough right it's the same in business now when you're talking to these people about deal flow your initial contact is extremely important you only have one time to make a first impression now I'm going to give you two scenarios one I would have come in here with green hair my hair slick back in my um um well I hardly look like James Dean because James Dean's about this tall but I mean the uh wearing a Hawaiian shirts we're close to the beach um you're drunk or barefooted or without socks now you would have had it a a distinct impression of me um the same is for the people that you expect deals to come from most of you in this room are not dressed to attract deal flow I tell people I don't care you know because I have business in the south in Florida and they said what's different in Florida that's it's different in Palm Springs it's different in Cardiff By the Sea and Airy Ferry San Diego that's crap have you ever seen a head of state on TV that wasn't wearing I mean other than some of the African countries I mean but I mean have you ever seen a head of state on TV that wasn't wearing a suit okay have you ever seen a head of state where a double-breasted suit who no no I don't think so no no they all have the Brooks Brothers look and uh no crap on your shoes no castles I mean white shirts now I'm wearing couplings which I wouldn't normally do but this group's not smart enough to realize that you shouldn't wear cufflinks so I wore cufflinks tonight but they all look alike Ross Perot dresses Rick Scott who is the CEO of Columbia Healthcare used to be my lawyer Rick Scott they all look alike except for the bransons and a few people that are are are considered Mavericks for you to be considered seriously in what we're talking about and for the women whatever women corresponding dress is business suit now I can just see you in a Brook's brother suit with a tie see I can see that because I my successful female Partners dressed and I this is probably an embarrassing thing to say they dress like me which you can take that either way I mean it in a positive sense they dress conservatively and if you don't dress conservatively I can assure you your deal flow your opportunity in in closing before I open it up to questions look at it this way it's your opportunity to become a high performance person and be wealthy now wealth money is not the only Benchmark I understand that in my career it's the only Benchmark that anybody can track of period it's the I I'm here and you're listening to me because I turned 800 into 425 million in eight years when Energy prices went from forty dollars a barrel to eight dollars a barrel otherwise nobody be here it's not because I'm a kind human being it's not because I'm generous which I am it's not because I'm loving sometimes lights have to be down and I have to be in the horizontal position but I mean it's not because of those things it isn't you're here because I've been Mega successful and I more importantly I've trained countless other people to be Mega successful otherwise you wouldn't be here we are now going to open it up to my friend time this is special time as my children would say and I am married to the same woman for 23 years I've been married three times same one we've renewed our vows twice I have a 14 and a half year old son who's going on 30. I have a 13 year old son who's going on nine and I have a nine-year-old daughter who's going on 40. and um so I that part of my life is fairly normal we're going to open it up to questions and the and raise your hand the mic will come to you by the way the reason that my normally because for edit expense I use um athletic metaphors and sexual metaphors why well looking at this audience I'm not sure everybody understands the sexual metaphors but but I know you understand the athletic ones at least the guys do okay and maybe some of you understand the sexual metaphors but that's why I do those two metaphors because everybody understands them oh almost everybody okay raise your hand if you've got questions I I'll come and have drag some questions this young lady in the front row one of your tangents and you said something about two mentors would that be Jerry Orman and Jim Stewart and how would one go about meeting them Jerry Orman and uh Jim Newman Jim Newman Jim Newman lives in uh North Hollywood he's semi-retired his name's in the book phone book he was my mentor forget my head screwed on straight he's still a good friend of mine uh he wrote a book that one of the books I recommend it's called release your breaks how many have driven a car with the emergency brake on in your lifetime now see now the young kids because you can't drive with emergency brake on nothing okay now when you're driving the emergency brake on the car is sluggish right it's bad for the brakes it's bad for the transmission it's bad for the universal you know everything and when you pull that emergency brake seal off what happens the car surges the power most of us and this is one of the premises of of his philosophy most of us through our life our lives have been going through life with the emergency brake on women have the emergency brake on more than men keep your legs together don't you dumb you'll look like a and all the crap that you're raised as a woman growing up which is almost the crap I have a daughter who unfortunately they they say is a little me now it's hard for me to imagine a woman me of course Lucinda Burke is very much like I am and I'm old enough to be her father the young woman that I talked about earlier but it's releasing that baggage that we've been trained with more women for women than men and his book helped me redefine my definition for Success he's a great public speaker he's a great guy another one of his Protege is Dennis waitley he's got a stable Jim Newman stable is second to none I believe he's he's coached the Joint Chiefs of Staff I mean just versus the IBM he came out of IBM about the same time Ross Perot did Gary orman's my other Mentor he lives in Bel Air I believe Jerry's name's in the book as well um it was the ninth floor of the baller Country Club he's like a second father to me uh and and my wife um he's a great guy he was my mentor in in the energy business and um most of the mistakes I didn't make were because of Jerry Ormond another question Jose Dan one thing that uh you mentioned is about deal flow but uh a lot of people probably don't seem to understand and sometimes they'll go try to do one deal doesn't work in the stop correctly you know it takes a lot more than one deal sometimes something you will have to try unless you're extremely fortunate you will have to try five or ten or Twenty or Thirty before you do one it's like you've heard the story if you stand on the corner and you ask enough women will you go to bed with me one will say yes right you've heard that I've actually seen that happen before I know I was on the corner of 55th and something in Manhattan and a friend of mine that will remain nameless because his wife may get a hold of this tape the 16th woman that went by he got spit on slapped kicked with the 16th woman said your place or mine if you ask enough people to loan your money if you ask enough people can I buy your company if you I mean somebody will say yes what happens in life is that we ask one or two or three and then we stop because if you're a rejection and all the things that are inherent lack of self-esteem lack of self-confidence high performance people have a great deal of self-confidence nobody loves Dan Pena more than Dan Pena my wife were here today she would say I worship the ground Dan walks on but my love for Dan compared to Dan's love for himself is transitory it's non-existent all the high performance people that I know and all the high performance people that I've alluded to all have unfortunately for a lot of us huge egos but we all like ourselves a great deal it's extremely difficult it's not impossible but it's extremely difficult to be a high performance person and not like yourself and not everybody likes themselves next question Dave and I'm in the process of applying any type of company and I have my professionals that are only deals my way is there some things that I can do to step it up to proactively hunt for companies any suggestions that I can take yeah The Wall Street Journal The Business Journal the major newspapers the New York Times the LA Times if you're here whatever state you know the Houston Chronicle if you're from Houston Texas all those newspapers the LA Business Journal the Houston Business Journal of San Francisco Business Journal those business journals that are on most of the major cities are all conduits of transactions you got to call them though you cannot put them under your pillow and buy osmosis these people will know that you want you want to do business enable car that that won't happen at least it hasn't happened to me because I've tried that method 20 or 25 years ago that method doesn't work um there are in addition to the accounting firms the law firms Etc that we talked about there are the investment banking firms the brokerage firms most of which will work on a contingency basis in front of you deals we have a guy named Lenny Knox who's a pilot for U.S air his claim to fame is that he was The Bachelor of the month five or six years ago in uh cosmopolitan and this is a guy about two foot six and how he ever got to be Bachelor the month the level of uh of Macho Man in the in the country is not what it used to be I guess but I mean this guy has put together an investment forgive me Lenny because you'll be listening to this I'm exaggerating what you look like a little to make a point but this guy's put together an investment banking team with no money and a deal flow with no money better than I did 20 years ago and I came out of Wall Street I came out of bear Stearns KKR fellas came out 10 months before I did and for those who take care of Nabisco and you know and they're the bright guys um but you you can find people I mean um I I listened to CNN and various programs on television and if I see something that's interesting I'll ask one of my assistants to call them see if we can get their number so I can talk to them but you have to be proactive that's just a lot of frogs 95 of your time so these in search of deals and or Finance next question yes ma'am what my question is how does a woman who needs to be conservative in appearance and aggressive in style and carry the baggage she has and deal with a baggage that men will put on not easily okay uh the way the way you do it is number one my recommendation to women not just women but especially women find a female or male mentor that has been there done that not somebody that's talked about it written about it lectured about it but it's actually physically done it um number one number two hang around with high performance people most people that you meet at seminars with exception of RR seminars I mean aren't high performance there are groupies they're the kind of people to follow the Dodgers around basically um read the four or five or six books in my judgment that are the best books vis-a-vis being a high performance person um and I'll tell you some of them right now one is tough-minded management by Joe Batten some of you may not know who Joe is Joe for starters is the mentor of Ross Perot which is pretty strong by itself release your brakes by Jim Newman Think and Grow Rich by Napoleon Hill um magic words by Ted nicholby the best marketing guy on the planet he's a very dear friend of mine and he's the second most successful guy in this business after me he's actually made money in the real world and he's on a board of ours in fact Dave Rick was born in Jose's and on great wisdom books um oh the max strategy Max excuse me m-a-ma-x strategy um is it Dalton or Dutton d-a-u-t yeah yeah um and later this year my book which hasn't been tied it doesn't have a title yet um but those kinds of books by people that have actually done it okay another question initial stages of your deal whether it be acquiring other businesses or developing a new product idea you might have before you're actually making sales and generating cash flow yes how do you make it through that time to pay the expenses of the business as well as your necessary expenses to make it to the first great difficulty I mean some of you know I started with 820 release fax machine and a phone I had my my oldest son had just been born um and I had no money and uh you learn that they don't repossess your house or foreclose until you're at least I think it's three payments behind I know these things unfortunately I haven't it hasn't happened to me in a long time but I know these things I know that you can still go out and get credit cards even if you're maxed out you've got crappy credits you can still go to the credit cards I mean I know these things um I know that you can buy real estate and in a lot of things with credit cards and it's even easier now my 13 year old son has a Master charge that has a fifteen thousand dollar limit my oldest son has an American Express card he's 14 almost 15. they send them in the mail my kids sign them and you're supposed to have a Social Security number and if my kids have one I don't know about it um I mean it's easy I mean if I filled out or my staff filled out all the credit card applications I get in a year I'd easily have a hundred I'm sure and um and that's what you do but if you don't believe see this is a subject of another tape but you can see I'm passionate about what I talk about I don't have to be here and when I retired four years ago and I decided three years ago to go into this business I decided to go into this business because I wanted to change the way success information is disseminated on the planet because I was so appalled that 99.5 of the stuff that you people buy listen is it just is if I know nothing losers that have never done anything but suck the money out of your purses in your wallets that's why I'm doing this I wrap my career around this passion that I have my unique selling proposition and the day that I'm not the most successful success coach on the planet I will retire period but it goes me to have people like you and you and you them take your money and give you back crap if you saw how these bums lived I was going to do a infomercial where I know where everybody lives and I know how they live and I was going to have a camera go to all their houses and show you the 57 Chevy on blocks with the engine outside on the guy's front lawn if I if you knew what I knew about these bums and how they have disdained for you that they can't stand looking at your faces because they think you're morons if you knew what I knew you'd have permanent diarrhea they think you're a joke they laugh at you when I got into the inner circle of these gurus it made my skin crawl they think you're chumps because they've never made a goddamn dime and they know it that you spend 1 500 7000 15 000 you buy their tape for two grand their books are 40 bucks it's a that's why I got into this business and yet some of you this week will go out and buy some bums book I will guarantee my life on it because they sell you half truths and misinformation and that's easier for you to swaddle than the goddamn truth that as hard as hell to make a lot of money and anybody that tells you any different is full of it's a on that happy note on that happy note any other question before we close down uh Mike for the oh go ahead we talk about cultivating incoming deal flow would you recommend any direct solicitation methods as well oh direct marketing letters for people that go to our seminars we have put together a package of successful letters that have worked successful phone solicitations that have actually worked that people like Dave raker Bruce Whipple Lucinda Burke Danny Taylor um to name some of the people that have gone through the seminar that happen to be my partners that have actually make work made they've made them work and the uh and it's the simple stuff that works it's not the highfalutin baloney that works it's a simple stuff and uh but I mean direct marketing which I'm not a guru at Ted Nicholas is I you know I would defer to him and he's he's a great seminar to go to the Ted's seminar on our marketing is in self-publishing in a couple of those things that he teaches are he's excellent um but you know he's like I think he's um his unique selling proposition is he spent two or three hundred million dollars in direct marketing campaigns of his own money well if you spend two or three hundred million dollars of your own money I mean you just think about it you don't have to be Einstein to figure this out okay thank you very much let's wrap it you've been a good audience foreign