Judging from the reactions of people from all phases of the convention, Chicago is now a distant memory. Dallas is the new standard by which all Cash Flow conventions must be measured. Cash Flow 2003 was so much better than Chicago that it’s difficult to remember what made Chicago so great.

Cash Flow 2002 and 2003 had one thing in common, however — the weather. If you recall last year’s wrap-up, one thing that surprised most attendees to Cash Flow 2002 was how cold it was in Chicago. Yes, Chicago is normally cold, but it was unseasonably cold in May 2002, and few people had prepared for it. It was truly amazing how many people purchased leather jackets that week.

Dallas, one would assume, would not only be warmer but could be unbearably hot. The city had recorded temperatures over 100° prior to Cash Flow’s arrival there, so a complete divergence from the Chicago situation was what everyone expected.

It would seem, however, that Cash Flow brings lower temperatures with it. Everywhere the convention has gone in recent years — except Las Vegas — has been colder than expected. Why should Dallas be any different?

Well, temperatures didn’t reach the 40s as they had in Chicago, but mid-60s on a late May day in Dallas is anything but normal. Cathy Simmons, convention director, has decided that cities anticipating a visit from cash flow professionals realize how much heat we are going to bring with us and try to balance it out. So, it was (relatively) cold outside the hotel, but blazing hot inside the Cash Flow 2003 venues. Here’s an assessment of what made this convention so good:

The City
Dallas is not Chicago, so there wasn’t as much to do there during Cash Flow 2003, but the city was in the midst of NBA semifinals, and many people were able to attend a game or two while at Cash Flow. Within walking distance of the hotel was an historic district called the West End, which featured many restaurants of all persuasions, a small and unique mall, and enough tourist paraphernalia to satisfy anyone.

Right next to the West End and a mere two blocks from the hotel was the site of John F. Kennedy’s assassination. It was interesting to measure the reaction of people who took time to visit the memorial and the Schoolbook Depository’s Sixth Floor Museum. People who remember the event approached the area with quiet reverence. Younger people were very curious and somewhat surprised at the depth of feeling it still evokes.

For people wanting to go elsewhere in the city — and the many shopping malls in and around Dallas seemed to be a popular destination — public transportation was readily available.

The Hotel
Now, this is an interesting story. Understand, first, that there were roughly 3,000 people at this convention. It is true that many were from the Dallas area and presumably had transportation to places beyond the hotel where they could pick up something to eat. But the great majority of attendees were people staying at the hotel. Realize also that the best time to visit the Exhibit Hall and Bookstore was during the two-hour gap each day created just for that purpose — and for lunch. Finally, understand that the hotel had essentially two restaurants, only one of which served lunch, a bar that served some food, and a Starbucks Coffee Shop. Finally, know that going to a restaurant beyond the hotel meant either a three or four block trek, an occasionally long wait for rapid area transit, or a taxi ride. Can you envision the line of people waiting to be seated at the hotel restaurant?

Fortunately, cash flow professionals are resourceful people who, if nothing else, could eat big breakfasts and big dinners and skip lunch entirely, so the one problem the hotel posed was easily avoided.

The many pluses it offered, however, made the food thing nothing more than a minor annoyance. The classrooms, general session rooms, Bookstore, and Exhibit Hall were located on two floors with an escalator to get from one to the other. The traffic flow was excellent; and everything was so close that people could take the 10 minutes between classes to run to the Exhibit Hall or the Bookstore without missing anything.

Some attendees and instructors were wishing for larger rooms to accommodate the overflow crowds at virtually every session, but the rooms held between 90 and 400 people. It’s hard to find larger rooms than that in any hotel. People who couldn’t find an open Speaker Session could easily spend quality time in the Exhibit Hall or Bookstore and usually did. ACFA will be expanding its schedule next year in anticipation of similar crowds.

The Attendees
Attendance is measured in quantity by ACFA and in quality by the exhibitors and speakers. It is primarily the quality of the attendees that has made the Dallas convention the best ever.

Almost every speaker and exhibitor commented that the people who came to Cash Flow 2003 were there to learn more about the industry they have become a part of. They were exceedingly curious and asked many intelligent questions, requiring both exhibitors and speakers to know what they were talking about. And the attendees spent all of their time at the convention, not trying to find things to do in Dallas.

The General Sessions
As usual, attendees took to heart the challenges that Fred Rewey made in his State of the Industry speech, and many attendees said they actually visited all of the Exhibitors and attended a speaker session about something they knew nothing about. Even Million Dollar Club members and Master Brokers checked out some cash flows they were not familiar with and were very interested in adding them to their catalog of deals.

Ironically, the biggest hit of the convention, the general session speaker people could not stop talking about, was Frank Miles, the featured speaker no one had ever heard of. Miles, a comedian, had become a motivational speaker after he experienced a serious accident from which he died (but was resuscitated, of course). He now uses his comedy to teach truths he believes everyone should take to heart. He told people to “spend mistakes,” or be willing to make mistakes, because that’s how people gain experience and learn. A person unwilling to make mistakes is rich in one way but poor in experience, he said. He also said people needed to be willing to make commitments and added that the enemy of commitment is doubt. He also said, “Cynicism is a way of pretending there are no choices worth making so you don’t have to make choices.” Miles had much to say about making choices. “There is no best choice,” he said. “You have to make the best effort and let it go. Make your choice, and everything else is another adventure.”

The core value he wanted people to learn was how to deal with fear. “Fear defeats more people than any other thing in life,” he said. “If you can risk ego, you can play to win instead of what we always do, which is play not to lose.” Robert Allen and Mark Victor Hansen had much the same message they offered last year — with a few twists since their book, The One-Minute Millionaire, has become a best seller. Allen also revealed to attendees that he had been in a serious automobile accident only weeks before the convention, one that almost killed him; and he talked about how that had changed his perspective. It was a powerful message.

Ron LeGrand was the fourth featured speaker, replacing the late Ernie Kessler who died of a heart attack about three weeks before the convention. LeGrand explained to attendees his system of investing in real estate by “finding people who have to sell, not people who want to sell.”

Speaker Sessions
The Speaker Sessions were a HUGE hit because of their variety and thoroughness. Prior to the convention, 600 people had attended the pre-convention workshops, a record for Cash Flow conventions; so it should not have been a surprise that, when the other 2,400 attendees showed up, the Speaker Sessions were filled to overflowing. Many attendees spoke of the lessons they had learned that they hoped to implement in their businesses when they returned home. Without question, the educational element of the cash flow convention was a big hit with attendees and speakers alike.

Exhibit Hall
If you call any of the companies that exhibited at Cash Flow 2003 right now and tell them you are an ACFA member, you will likely be greeted warmly. Right now, those exhibitors love ACFA members because they met the best the association has to offer at the convention. The Exhibit Hall was packed almost constantly, even though many exhibitors had time to sit down one-on-one with consultants who needed more than a handout and a business card. Fish bowls were packed with business cards from the attendees, and the attendees were excited about the opportunity to meet their funding sources.

Bookstore
With a wider variety of quality materials, the Bookstore was the best ever. Many writers were introducing materials that had never been available before, and much of the new materials — and many of the tried-and-true best sellers — came very close to selling out. In some cases, the Bookstore had to have more volumes shipped from ACFA Central in Orlando overnight to keep the convention site well stocked. (Don’t miss an opportunity to pick up some of those materials yourself this month. The Online and Mail Order Bookstore will close at the end of July and will not reopen until next May. See the advertisement in this issue of the Journal.)

Special Events
Every night at Cash Flow 2003 was a special night. It began with the Welcoming Reception where nearly everybody got a taste of Texas; and there was a lot to do besides network (networking was still a good idea, though). You could get your butt sketched, or learn how to win in a Texas-style gun fight, or ride a bull that was determined to buck you off.

Fred Steinberg, never one to shy away from a challenge, got the bull-riding started and won his bet with Fred Rewey by staying on longer, but it is not known if he was able to collect on his bet.

Many people had their butts sketched by professional butt sketchers and were able to network while posing. It was just a good old time down on the ranch. Friday night brought Club Cash Flow, and attendees packed the upscale nightclub-like setting and danced the night away. Network? While it was an opportunity to network, the music was a little louder than most people could shout, so networking opportunities may have been reserved for the few seconds between numbers. Whatever the case, people had a great time.

So did members of the Million Dollar Club who were bused out to Southfork, the fictional site of the 80s television show, Dallas. People who remembered the show quickly discovered that the house that served as the model for the Ewing mansion was much smaller than it looked on television. It has since become a banquet facility, and a good one at that. Several MDC members remarked that they were especially pleased with the choice of Southfork as the site for the club’s annual feast.

But all the fun really started Saturday night when all the attendees sat down for a gourmet meal — except when they were up line dancing. The Dallas Cowboy Cheerleaders were a special treat; and they hung around to escort the male MDC inductees up to the stage to receive their plaques.

The MDC inductees were: Robert Bedell, Tina Bracken, Michael Brower, Ernest Brown, Anthony Cicone, Debra Cook, Brenda Cummins, Virginia Dunne, Gershon Haston, William Hutchings, Charles Kercheval, Don Kleppe, George Meyer, Bruce Povalish, John Washington, Elizabeth Davis-Washington, and Ray Wollum.

Look for several of these recipients to be profiled in next month’s American Cash Flow Journal® .