Have you heard the term generational wealth before? My mentor Dan Pena teaches and instructs others to generate exactly that. So, what exactly is generational wealth?
Generational wealth is a form of huge fortunes that usually take 20-25 years to create. We are talking about huge sums of money, here. Normally, the generations of an entire family line have to work together to achieve such a great fortune.
The reason why it’s called generational wealth, is because it takes generations to build it up. It’s old money.
Dan Pena is known as “The Trillion Dollar Man”. He acquired huge riches in his life. So, to learn from him is extremely valuable, as he has walked the walk. At his castle seminars, he would teach his mentees how to achieve generational wealth in 3-7 years, instead of 20-25 years. This is extremely valuable knowledge, so of course I attended his seminar.
I visited one of Dan Pena’s seminars back in 2003. That was a huge turning point in my life, and in my pursuit of financial success. Dan Pena has been my mentor ever since, and I would often visit him at his castle.
So now, what are Den Pena’s in-depth strategies for creating generational wealth? Let’s start with who Dan Pena is, and why we should all listen to his advice.
Who Is Dan Pena?
Dan Pena is often referred to as the “Trillion Dollar Man”. He has many impressive achievements, and owns a castle in Scotland.
Getting Dan Pena to be your mentor isn’t easy. You can’t just call him on the phone and book an appointment. Like most wealthy people, he is guarding his time.
When I found out about Dan Pena, I was very young and very broke. I had nothing much to offer, but I knew I wanted to be mentored by him. So I called his secretary and asked for an appointment. Of course, she told me off. But I didn’t give up. For days and weeks, I would call Dan Pena’s secretary every day. My persistence worked. Dan Pena picked up the phone and told me to come to his castle for one of his seminars.
That was the next challenge. I was pretty broke at that time and getting tickets for the flight from Canada to Scotland was a challenge for me, and a major financial risk. But I did it anyway. Today, I am incredibly grateful for everything I learned from him. Let’s just say it was worth the money to fly out to his seminar.
Many of the things that I’m teaching my students today, I learned from Dan Pena back then. Things like, “Consistency is key” or “Smell the leather” are expressions I picked up from Dan Pena.
Dan Pena’s Way To Generational Wealth: The “Quantum Leap Advantage” (QLA)
So, what exactly does Dan Pena teach his mentees about generational wealth?
His system is called the Quantum Leap Advantage, or QLA for short. QLA isn’t for everyone. To learn the system of QLA, it would be best if you were already earning 6 or 7 figures. It’s not a strategy meant for broke beginners. Now, why is that?
First of all, if you want to learn QLA from Dan Pena live, you have to be able to pay for your tickets to his seminars. They come with a price tag. You can also learn QLA via Dan Pena’s YouTube videos. If you do that, there is one catch, however. To accumulate and hold generational wealth you need to first have the mindset of a wealthy person. For many of you, this requires a significant mindset shift.
When you spend a week at Dan Pena’s fancy castle for his seminar, your outlook on wealth changes. I remember the first one or two days at the seminar, I felt kind of uncomfortable and out of place. There was a bell to ring, so the waiter would come and get you food and drinks. I was young, broke, and not used to any of these luxuries. But after a day or two, I thought to myself, This is actually kind of awesome.
You see, even if the QLA strategies are on YouTube for free, only very few people can implement or use these strategies. For generational wealth, you have to be comfortable with wealth. If you never earned 6-figures in your life, then you are probably not ready. Focus on increasing your income first.
How Does QLA Work?
Through his teachings, Dan Pena has created millionaires and billionaires.
The foundation of the QLA method is this: It’s a commercial debt-based business model. You never use your own money. Instead, you borrow money from commercial banks. With that money, you acquire businesses in lucrative sectors. Hot sectors such as healthcare and telecommunication. You grow the business and sell it again. That is the basic concept behind generating generational wealth.
Now, this sounds easier than it’s done. If it would be easy, everyone would do it.
If you do everything right, then achieving generational wealth will take you about 3 years. If you make some mistakes along the line, it will take up to seven years. But that’s still infinitely faster than the usual 20-25 years.
Create Generational Wealth by Changing Your Mindset
Before you can acquire any amount of wealth, you have to adjust your mindset. Most people, don’t grow up in rich environments. Rather, they grow up with a mindset of poor people. If they can’t escape from that mindset, they will stay poor. They have to adjust from a poor person mindset to a wealthy person mindset.
Dan Pena often calls the current generation “snowflakes”. Why? Because they melt under pressure. Most people nowadays have “safe spaces” where they shelter themselves from the world. But, the snowflake mindset doesn’t help you to achieve generational wealth.
To become wealthy, you have to get used to people saying “No” to you. Dan Pena and I still get a lot of “No”s. My High-Ticket Closers, when they sell on the phone, have to get used to rejection. The right mindset is that every “No” you get, means you’re getting that much closer to a “Yes”.
As a wealthy person, you are committed to your results, even if it’s challenging, and the odds are against you. The QLA seminar visitors come from all kinds of backgrounds and all walks of life. That is proof that everyone can become wealthy if they are determined and willing to make the sacrifices that come with wealth.
Your Self-Esteem Needs Some Work
The participants for Dan Pena’s seminars are getting younger and younger. His current “poster child” is a young man who came to him at the age of 17. All he had was a 15-speed bicycle. Now he is 21 and flying his own private jet.
Dan Pena often noticed that almost all of his seminar attendants had low self-esteem. To create generational wealth, they first have to start to believe in themselves. If you are the first aspiring millionaire or billionaire in your family, chances are that others don’t believe in you. So, it’s even more important that you believe in yourself and have that self-confidence to be a trail blazer despite your family’s history of being poor.
This ties back in with your mindset and how comfortable you are with getting rejected. Dan Pena himself also started out as a salesman, so he understands rejection, cold calling, and the numbers game.
The thing is, when you follow the Quantum Leap Advantage method you aren’t selling a product. Selling a product is easy. But essentially, you are selling yourself. Getting rejected when you sell yourself is twice as tough. That’s why you need unshakable certainty and high self-esteem.
How Have You Been Programmed?
Another important factor when it comes to generational wealth is the programming from your parents, peers, and people around you. Dan Pena believes that parents program their kids for a certain type of thinking from a young age.
Dan Pena himself had a rough childhood and even ended up in jail at some point in his life. Only after he changed his program did he get to generational wealth. When Den Pena started to make fortunes, his father said, “Please tell me it isn’t drugs”. He made so much money that everybody assumed it was something illegal.
That’s also a form of programming many of us have to hear every day. In a poor people mindset, it seems impossible to make a lot of money legally. They immediately assume you did something illegal.
To get to the core of your program, ask yourself, how is your program working out for you? What stories are telling yourself? How do you justify your failures? What excuses are you making? When you are very honest with yourself you probably have to admit that your program isn’t making you successful.
That’s why it’s so important to have a mentor. A mentor who practices what he preaches can help you to change your program. They have been where you once were and show you how to overcome it.
Smell The Leather
I teach this concept to all of my students, but I actually learned it from Dan Pena. Smelling the leather is a powerful tool to expand your comfort zone and get used to wealth.
What is it about? Smelling the leather means to tap into the world of the rich, even if you can’t afford it yet. Get a taste for the luxuries you can’t yet afford.
For example, when I wanted to buy a certain car, I would go to different dealerships and test drive the car. I got so used to it, it really felt like the car already belonged to me. When I would walk on the streets with my friends and my dream car would drive by, I would tell them “Look, that’s my car.”
Or when I wanted to buy a Bentley but still had to wait, I first bought the license plate. The license plate would remind me every day of my goal to buy the Bentley.
If you want to live like the rich or get a taste for it, go to fancy hotel lobbies and do your work there. Visit the neighborhood where you want to live and have dinner there frequently. Expose yourself to the lifestyle you want to have. This practice will motivate you to take action.
Smell the leather. I learned that concept from Dan Pena. If you want to adopt a wealthy mindset, it’s the perfect strategy.
Another one of Dan Pena’s core principles for generational wealth is tough love. If you watch Dan Pena on YouTube or attend his life seminar you will see that he isn’t exactly a soft guy. He knows that to become wealthy, you have to go through hardships and he tells you so unfiltered. That the “No BS” mentality you will need to accomplish generational wealth.
Generational Wealth Doesn’t Come Easy
When you want generational wealth, you have to be aware of this crucial factor:Wealth doesn’t come for free. Most people don’t become rich because they aren’t ready to make the sacrifices to get there. Click To Tweet
In that sense, generating wealth is very similar to losing weight. What do you have to do to lose weight? You have to put in the work and exercise. Still, so many people in North America are overweight. Why? Because they aren’t ready to make the sacrifice that comes with losing weight – sacrifices such as spending time in the gym or holding back from eating too much.
Most people see the glamour of rich people’s lives and want that. But they don’t see the blood, sweat, and tears that got us there. When you want to get really rich, there are many sacrifices you have to make. People, opportunities and mindsets you have to say no to.
Getting wealthy typically involves constant work, even when you don’t feel like it.
Absolute High Performance
To create generational wealth – or any kind of wealth really – you have to be a high performer. You can’t get rich and make excuses at the same time.
You have to be committed to your results and stay consistent. As Den Pena likes to say: “High-performance people are all they can be all the time.” That means they are always like that. Not just when they feel like it. It’s a part of who they are. Peak performance is ingrained in their daily routine.
Den Pena is an absolute high performer because he doesn’t know fear. He is never afraid, because of his life experiences and the discipline he learned in the military.
What Gets Measured, Gets Accomplished
Dan Pena believes that what gets measured, gets accomplished. When you visit one of his seminars, you’ll notice that in the months after, he will follow up with you and see how you are doing. He sees it as his responsibility to keep you on your path of making generational wealth.
Your Emotional Bank Account
Most people are aware of their financial bank accounts. But, there is actually another account to pay attention to: Your emotional bank account.
Your emotional bank account is probably even more important than your financial one. The emotional bank account determines how well you react if something doesn’t go your way. How you take it when your back is against the wall and you have to perform.
Are you emotionally strong? How about emotionally intelligent, emotionally stable, resilient and able to bounce back?
When your emotional bank account is in check, your financial bank account will follow. So, you are creating generational wealth with and through yourself and your own personal strength.
Why QLA Works
Now as you can see, the strategies for creating generational wealth are mostly intangible. It’s not about how rich you are already and which investment gimmicks you are using. It’s about working on yourself so you are actually ready for fortune.
Still, there are some more methodological approaches to QLA that make it so successful.
They way QLA works, you are getting yourself in a position where there is no competition. Most people wouldn’t do it.
Generational wealth gets created by a series of transactions. It’s not just one business you sell, you have to do it over and over again. It’s also about paying attention to current interest rates and checking which sectors are hot right now. For example, healthcare is lucrative right now. As Dan Pena said himself, “My generation doesn’t want to die.” So, there is a lot of money in the health sector.
7 Steps To Mega-Success
When you visit Den Pena’s website, you’ll see that the QLA method follows 7 steps.
Step 1 is the foundation. It discusses how to overcome obstacles, how to get the right mindset and so much more.
Step 2 is about clarifying your vision, to make sure you are crystal clear on what you want.
Step 3 is focusing on perception.
Step 4 deals with creating your dream team.
Step 5 is about the Quantum Leap Action Plan. Remember QLA works without any of your own money.
Step 6 explains why you should pay yourself first.
And finally, step 7 talks about your exit strategy.
The whole purpose of Dan Pena’s teachings is to show you how to become mega-successful. Most of the time, it’s by doing the opposite of what conventional wisdom tells you to do. Very often, conventional wisdom and traditional teachings are wrong.
Ready to Unlock Your Wealth?
Perhaps you are only just starting out as an aspiring millionaire. Maybe you aren’t sure if the concept of generational wealth is too advanced for you.
I believe that you have the potential inside of you to achieve your dreams. It’s possible that so far, you’ve been programmed in a way that gave you poor self-esteem. You’ve been following conventional wisdom that has kept you poor. But all wealthy people – even Dan Pena or myself – we weren’t born fortunate and rich.
In my early twenties, I was broke and in serious debt. When Den Pena invited me to his castle, I wasn’t sure if I would make it, because of the cost of the plane ticket.
We all have to learn to unlock our inner potential first.
My new best selling book Unlock It is exactly about that. All I learned in the last 20 years of being in business, the hardships I overcame and the lessons I learned – I divulged it all in this book.
So, if creating great wealth is your goal but you don’t know where to start, then Unlock It might be of interest to you. It’s not a regular book, either. It offers space for you to take notes and reflect. You can read it in one go or find the chapters that discuss current life situations you are facing. It’s a book full of answers. What would it mean to you to unlock your potential? Check out my book right here.