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Two Faces in the Mirror by Dan Kennedy

Renegade Millionaire

Two Faces In The Mirror

Richard Branson, the already successful Branson, has had to close down businesses that were sucking money down drains with no end in sight. Arguably, he made bad decisions and bad investments. If he lives long enough and stays active, he’ll do so again. Long after the big crash that almost did him in, the freshly, super-successful Trump has been involved with failed real estate projects in Vegas and in Mexico, been sued or threatened suit by investors, and more recently his licensing and speaking deal with the company using the Trump University brand has bitten him in the ass. Presuming another decade of active entrepreneurialism, these won’t be the last sour real estate projects or the last ass bite. Disney has, recently, bought companies it later, quietly killed. Put out John Carter From Mars and The Lone Ranger. Completely screwed up its California Adventure theme park and has spent hundreds of millions of dollars re-tooling it. Examine almost any shiny success, and on its flip side, you’ll find grimy failure. How do you feel about that fact?

Zig told the story of the cat hat stepped on the hot burner, then not only wouldn’t ever jump on the stove again, but wouldn’t even come in the kitchen. This is how most people feel about and react to failure, particularly embarrassing and humiliating or expensive failure. If they experience it once, they never want to go in the kitchen again. One punch in the nose is all it takes. The truth of success scares the shinola out of most people.

There are also, always, the exceptionally successful individuals who are, in various ways, failures personally. Houdini failed at almost nothing, except control of his own ego, which very directly caused his premature and unnecessary death. There’s a T-shirt being sold, with picture of Bill Clinton, that reads: “Remember when YOUR biggest problem in Washington DC was MY stain on a blue dress?” It’s funny, but it also speaks sadly of the stain on a smart and talented man. My friend Gene Landrum has written intelligently and eloquently about the dysfunction of the extraordinary achiever, and if you haven’t read any of his works, start with Profiles of Greatness. Most exceptionally successful people are not even close to “superior” – in fact, most are horribly flawed, but manage to rise above their own foibles.

My own history includes a private graveyard of business failures and disappointing projects, most given the swift sword, a few dying slowly and agonizingly; financial embarrassments; and some number of people with permanent negative opinions about me. I am not universally beloved nor consistently and certainly successful. To hit some business highlights, going backwards, there has been mail-order ice cream (which sounds funnier than it is), a high-priced be-an-expert academy that failed to launch, a comprehensive how-to course for inventors no inventor wanted, a retail store: the Self-Improvement Center ahead of its time. Just these added together, a million bucks, give or take, down the drain, a bit noisily. There was, way back when, both a corporate Chapter 11 turned 13 and a personal bankruptcy. There are four business experiments underway now and I’m confident at least some will become tax losses buried in the back yard. Of more micro nature, were I to try and list and briefly describe all the mis-steps, mistakes, misadventures and misfortunes, it’d be best to do it like an old-fashioned encyclopedia, with a thick volume for each letter of the alphabet, the entire set consuming several shelves. And I’m not done making messes. I say: success is cooked up in a messy kitchen.

If your success game plan features being right 100% of the time and never making mistakes or your fragile ego demands never getting egg on its face, you’ll be playing the game for only a short time, timidly, and without distinction, or you’ll rise high and fast only to fall just as fast and crash as hard as can be. The ironic fact is, the game is won by losers. If you aren’t floundering or outright failing at something, you probably aren’t doing much of anything. When you look in the mirror, if you don’t see a winner and a loser, the guy or gal you do see isn’t playing the big game.

You have heard the cliché: success breeds success. It does. But what you don’t often hear is the other, equal truth, that failure is the other parent of almost all success. The goal of success can never be to avoid failure, but to manage it, minimize its harm, extract its lessons, leverage it in every way possible, rise above it, and know that it will be forgotten and made irrelevant in time. Everybody knows that Babe Ruth struck out more than he hit home runs. Most superstar athletes perform similarly. Michael Jordan missed more than 9,000 shots in his pro career. 26 times, he had the game winning shot in his hands, missed, lost. He said, “I have failed over and over and over again in my life – and that is why I succeed.” By his own words, he acknowledges seeing two faces in the mirror.

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DAN S. KENNEDY is a serial, multi-millionaire entrepreneur; highly paid and sought after marketing and business strategist; advisor to countless first-generation, from-scratch multi-millionaire and 7-figure income entrepreneurs and professionals; and, in his personal practice, one of the very highest paid direct-response copywriters in America. As a speaker, he has delivered over 2,000 compensated presentations, appearing repeatedly on programs with the likes of Donald Trump, Gene Simmons (KISS), Debbi Fields (Mrs. Fields Cookies), and many other celebrity-entrepreneurs, for former U.S. Presidents and other world leaders, and other leading business speakers like Zig Ziglar, Brian Tracy and Tom Hopkins, often addressing audiences of 1,000 to 10,000 and up. His popular books have been favorably recognized by Forbes, Business Week, Inc. and Entrepreneur Magazine. His NO B.S. MARKETING LETTER, one of the business newsletters published for Members of GKIC Insider’s Circle, is the largest paid subscription newsletter in its genre in the world.

NOTE: Receive $633.91 of free money-making marketing and sales information from Dan Kennedy and GKIC.

Dan Kennedy Article: How Money Is – And Isn’t – Made In Business By Dan Kennedy of GKIC

Dan Kennedy - Renegade Millionaire

Article by Dan Kennedy:

“Nothing Happens ‘Til Somebody Sells Something”

I mentioned inside, that one of the people who visited with me at a recent book signing, Tripp Braden, does some work with Warren Buffett, and a lot of work in the private equity investment world. He and I compared notes, as I have a fair amount of experience with client-companies sold and bought by private equity investors. He agreed with my chief observation: they are usually even more clueless than the operators of the businesses they acquire about marketing. Most of their improvement forays have to do with cutting “fat” and squeezing profits out of reduced costs, cutting a whole up into pieces and selling some, synergy with other things they own, and multiplying what’s working by pumping in capital. In other words, bean-counting and re-arranging of piles of beans. They often bring a religious belief in the value of replacing entrepreneurs with “professional management.” Apple is a great example of the fallacy of such faith – after forcing Jobs out, they later had to go beg him to return and reinvigorate the moribund sloth the professional managers had turned the company into. Innovation and marketing had been de-balled in his absence.

You can only go so far re-arranging beans.

It’s worth noting that when Lee Iacocca saved Chrysler from the edge of extinction, he did cut executive-suite costs with a bloody axe, he did re-structure company debt, but he also hastily created new products – including the first American made convertible put out in years and the mini-van loaded with cup-holders, and he grudgingly stepped forward as commercial spokesperson to sell the new, radical warranty he wrote. If you ask him, as I once did, personally, what saved the day more than anything else, he says: selling. Of course, Iacocca was a renegade his entire career.

Since the 2008 crash, and now, you see a lot of TV and print ads for gold – gold bullion and gold coins, as well as silver, and numismatics, pitched as reassuringly tangible, hard assets you can hold in your hands, store in your vault. The best of the TV commercials are those starring the actor William Devane. The guy who largely invented the whole business in the 1970’s was James Blanchard III, and if you can find a copy of his autobiography, Confessions of a Gold Bug, published in 1990, I strongly urge reading it, for many marketing, business, financial and life ideas. Blanchard was an ultimate Renegade Millionaire. A visionary entrepreneur. And a phenomenal salesman – of his ideas as well as his business. (Blanchard influenced me, by the way, in my evolving approach to my business. Specifically, check pages xi and 78-79 of his book.)

I’ve just completed a manuscript for a forthcoming book in my No B.S. series, No B.S. Guide to Brand-Building by Direct-Response, co-authored with the Iron Tribe Fitness guys, including chapters from several others, and an exclusive interview with Mark Victor Hansen, co-creator of Chicken Soup for the Soul. As I worked on the book, and completed the final chapter, The Mouse And The Bunny, about Disney and Hefner, I was forcefully reminded that almost all great and powerful brands were raised up and driven by individuals who were both visionary leaders and outstanding salespeople, representing their enterprises. This is true of brands that bear their names, like Disney, or brands that don’t, like Apple. I’m not fond of his late-life politics, but Warren Buffet is a terrific salesman for Berkshire-Hathaway. Would you even know of the company were it not for Warren The Promoter? Businesses and brands without a human face, a visible driving force, a visionary, and a convincing salesperson – ideally, something of a Barnum – operate under extreme handicap. Achieving giant size, the need may be relieved. But it’s still a handicap.

Mr. Gamble of Proctor & Gamble said, “Any fool can make soap. It takes a genius to sell it.” What Renegade Millionaires know, that so many others do not, is that nothing happens until somebody sells something – and they’d better not depend on somebody else to do the selling.

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DAN S. KENNEDY is a serial, multi-millionaire entrepreneur; highly paid and sought after marketing and business strategist; advisor to countless first-generation, from-scratch multi-millionaire and 7-figure income entrepreneurs and professionals; and, in his personal practice, one of the very highest paid direct-response copywriters in America. As a speaker, he has delivered over 2,000 compensated presentations, appearing repeatedly on programs with the likes of Donald Trump, Gene Simmons (KISS), Debbi Fields (Mrs. Fields Cookies), and many other celebrity-entrepreneurs, for former U.S. Presidents and other world leaders, and other leading business speakers like Zig Ziglar, Brian Tracy and Tom Hopkins, often addressing audiences of 1,000 to 10,000 and up. His popular books have been favorably recognized by Forbes, Business Week, Inc. and Entrepreneur Magazine. His NO B.S. MARKETING LETTER, one of the business newsletters published for Members of GKIC Insider’s Circle, is the largest paid subscription newsletter in its genre in the world.

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Leading the Pack Even When You’re Out-Ranked and Out-Gunned by Dan Kennedy

Renegade Millionaire

Dan Kennedy:

“Leadership depends more upon the man than the rank.” – Harold Geneen

For good or bad, I consider myself fortunate to have missed the Vietnam experience. But I’ve talked to enough vets to know that “fragging” was much more common than the public knew; meaning, grunts shooting their leader in the back. This demonstrates that rank doesn’t necessarily guarantee respect. The same thing is true in less deadly situations. Just because you’re the boss no longer means anybody will do as you ask.

Fortunately, this has a very positive flip side. When I first read this, I was also reading Ringer’s stuff, and I realized that you can take control, assume leadership and be the boss in situations where you have no rank. This is a very liberating idea. It frees you from structure, from intimidation and from a whole lot of very limiting past programming. You can become the leader in a defined marketplace in under a year, even if there are companies competing there with 100 years’ tenure. You can lead a meeting, a group’s thinking or the direction of a project even if you are the newest, smallest puppy in the kennel. As a consultant, I often find myself leading in situations and environments
where I have no rank.

Where Does The Confidence To Lead Come From?

I think all leadership confidence is based on a disdain for the other contenders and for the troops. This is a controversial idea, very offensive to many, and I understand that. Military and political leaders will vehemently deny it. But the truth is, most leaders gain the confidence it takes to lead by looking around and arriving at the conclusion that everybody else around them is inept, inarticulate, lazy or otherwise woefully unqualified. This is the best reason of all to enter a new business or a new market, by the way: the conviction (not just arrogant opinion) that those already there are idiots. I’ll never forget how my confidence about being in the speaking business soared after attending my first
National Speakers Association event – sure, I saw a number of people there who were better speakers than I was, but I met nobody with their head screwed on straight about the business. I also saw a group of professionals obsessed with the illusion of “rank” that was meaningful to them out meaningless in the marketplace. Whenever you spot such conditions, you can count on having found enormous opportunity.

DAN S. KENNEDY is a serial, multi-millionaire entrepreneur; highly paid and sought after marketing and business strategist; advisor to countless first-generation, from-scratch multi-millionaire and 7-figure income entrepreneurs and professionals; and, in his personal practice, one of the very highest paid direct-response copywriters in America. As a speaker, he has delivered over 2,000 compensated presentations, appearing repeatedly on programs with the likes of Donald Trump, Gene Simmons (KISS), Debbi Fields (Mrs. Fields Cookies), and many other celebrity-entrepreneurs, for former U.S. Presidents and other world leaders, and other leading business speakers like Zig Ziglar, Brian Tracy and Tom Hopkins, often addressing audiences of 1,000 to 10,000 and up. His popular books have been favorably recognized by Forbes, Business Week, Inc. and Entrepreneur Magazine. His NO B.S. MARKETING LETTER, one of the business newsletters published for Members of Glazer-Kennedy Insider’s Circle, is the largest paid subscription newsletter in its genre in the world. Get the Most Incredible Gift Ever.

Renegade Millionaire – Futurists – Article by Dan Kennedy

Renegade Millionaire

Dan Kennedy recently wrote the article below as a part of his series on “Renegade Millionaires.” This reveals how truly successful people look at opportunity, success, and even failure differently than the 99% of people out there who’re just scraping by. Anyway, I thought it was worth passing on. Hope you find it as useful as I did. If you need more marketing and sales strategies, check out the note I included at the bottom of the article. Enjoy.

Renegade Millionaire – Futurists
By Dan Kennedy

Last year, Bob Iger’s compensation as CEO of Disney was raised 20% by the Board, and he was paid $40.2-million. I’m happy for him. As a Disney fan and customer I appreciate his stewardship of legacy and quality. As a shareholder, I only regret not wagering a lot more on this horse when the price was cheap. Disney, if you haven’t been paying attention to the news, is thriving, and nearing another explosion of revenue and value growth as a China park’s opening grows closer.

$40.2-million is a lot of cheese, especially for someone who’s judgment is so repetitively questioned. In 2006, shortly after taking the kingship from Eisner, Iger personally negotiated a deal with Steve Jobs to buy Pixar for $7.4-billion, and was openly criticized by Wall Street analysts, business media, and peers for grossly over-paying. But Iger said that Pixar’s value was in its future films, not its existing assets, and he believed the Pixar capabilities and people were what Disney needed to reinvigorate its animation. You might look up all the revenues earned from the Toy Story franchise alone, if you want to pass judgment on the $7.4-billion. Recently Iger bought Marvel, and the same criticism about paying more than its worth was loudly raised. After the new Iron Man and Avengers films’ success and what is obviously to follow, critics quieted. Very recently, he bought Lucasfilms from George Lucas, thus acquiring everything Star Wars, and again, a chorus of critics emerged decrying the price tag. It seems to me that Iger has over-paid in each of these instances based on bean-counters’ formulaic analysis of present worth but bought at bargain prices factoring in the immediate increases in revenue and value made possible by Disney ownership and synergy, let alone the future value to be created with the assets. In short, he has a renegade formula.

Ordinary entrepreneurs and investors run screaming away at the idea of deliberately paying a price significantly higher than the accountants and analysts say something is worth. The most interesting Renegade Millionaires live by it. Trump told me he has, quote, over-paid, unquote for every one of his best deals and properties, but just hanging his name on something makes it worth 20% to 30% more, and on top of that, he buys based on his vision for its future value. Iger said he borrows inspiration from Walt Disney in making these decisions and others like them. He says: “Walt was an unbelievable futurist.”

Entrepreneurs and marketers face this “how much to pay?” question a lot – not just if acquiring a company, but when it comes to the differential costs of acquiring different kinds of customers from different sources, the costs of joint ventures or strategic alliances, the costs of key people. Most make poor-minded, short-sighted decisions. I have quite a bit to say about all this in my book, No B.S. Guide to Ruthless Management of People and Profits.

Being able to pay a higher price for a worthwhile asset than anyone else can or will pay or even thinks sane but, by your calculations, getting a deeply discounted bargain is the legerdemain of a true master entrepreneur. This is THE secret behind many built-from-scratch, amazing enterprises, particularly in the direct marketing world. It has built my client Guthy-Renker to a near-$2-billion business. It made HealthSource’s meteoric rise from start to over 350 franchises in just 3 years possible. It is a force that should be ardently coveted and never cavalierly dismissed. Any idiot can easily find ways it can’t be done – are you any idiot?

Despite Iger’s success, he was quick to remind an interviewer that he’s the guy who put the show “Cop Rock” on ABC. “The longer you’re around and the more you do, the more failures you have on your resume.” Disney’s “John Carter From Mars” was on Iger’s watch. Trump invested in an embarrassing alternative football league that lived briefly. He has, once, maybe twice danced at the edge of bankruptcy. His planned Vegas casino is a non-casino condo tragedy. I’ve had a number of duds myself and none of them matter. The beauty of being an entrepreneur is that even a few big wins can cover a lot of other mistakes – and erase them from public consciousness. There is also a big fail-forward-factor in most Renegade Millionaire success stories: the piles of shit we fall (or climb) into often have hidden passageways that lead to gold mines. We do not fear these falls.

All Renegade Millionaires are futurists. We create and try to predict future value. This is the only way you can ever get beyond simple earning of daily bread. It is important that the trains run on time today, but that’s not enough. Where is the visionary leader? You must bring this to your business.

NOTE: To receive $633.91 of free money-making marketing and sales information from Dan Kennedy and GKIC simply click the link below.

DAN S. KENNEDY is a serial, multi-millionaire entrepreneur; highly paid and sought after marketing and business strategist; advisor to countless first-generation, from-scratch multi-millionaire and 7-figure income entrepreneurs and professionals; and, in his personal practice, one of the very highest paid direct-response copywriters in America. As a speaker, he has delivered over 2,000 compensated presentations, appearing repeatedly on programs with the likes of Donald Trump, Gene Simmons (KISS), Debbi Fields (Mrs. Fields Cookies), and many other celebrity-entrepreneurs, for former U.S. Presidents and other world leaders, and other leading business speakers like Zig Ziglar, Brian Tracy and Tom Hopkins, often addressing audiences of 1,000 to 10,000 and up. His popular books have been favorably recognized by Forbes, Business Week, Inc. and Entrepreneur Magazine. His NO B.S. MARKETING LETTER, one of the business newsletters published for Members of Glazer-Kennedy Insider’s Circle, is the largest paid subscription newsletter in its genre in the world.

Get Your Money Making Marketing and Sales Information from Dan Kennedy and GKIC now!