Everyone who’s seen the controversial film The Wolf Of Wall Street has a different view of the main character, Jordan Belfort.
From praise to extreme criticism, Belfort is always able to evoke incredible passion. But love him or hate him, one thing is certain: he was able to reach a level of success that few of us ever do. From drugs, to cars, to women, to off-the-wall in-office antics, everything Belfort did was lavish and over-the-top, just the way he envisioned it.
Here are 6 things to learn from the Wolf Of Wall Street:
1. DEFINE YOUR GOALS AND KNOW WHAT YOU WANT.
More than merely setting goals, take time to look to the future and decide exactly what you want and how to get there. It is essential that you have a vision that you are passionate about, that pulls you towards your goals and steers your decisions. Remember, Belfort didn’t get rich “by accident” – he got rich “on purpose”.
2. SELL YOURSELF.
Belfort knew that perception is everything and presented himself as a success before he achieved success. He acted powerful, wore expensive suits, and exuded an air of confidence. He even purchased tailored suits for his staff, to elevate the perceived success of his entire company. It is crucial to recognize and focus on constantly improving the way others view you as you are the embodiment of your company.
3. PERFECT YOUR PITCH, THEN HAMMER IT.
Stratton Oakmont, under Belfort’s direction, specialized in penny stocks. It sold cheap stocks to the public, and then, after gaining their trust, to the top 1%. He located a niche that was largely ignored at the time, and exploited it through incredible salesmanship. His strategy is a reminder to keep your customer base in mind and tailor pitches for them.
4. TAKE TIME TO TRAIN YOUR STAFF WELL.
While Belfort was the brains behind Stratton Oakmont, he utilized a large and dedicated staff to implement his ideas and help grow his comapny. He specialized in training low-level and low-skill employees to sound like educated and experienced stock brokers. He focused on keeping things simple yet effective, so that employees always knew what was expected of them. Belfort knew that the success of his company was dependent on each employee’s success, and provided them tools like a killer sales script as a guide. Instead of trying to juggle all of the work yourself, hire a good staff, and train them well.
5. NEVER GIVE UP ON A SALE.
Belfort was known for his tenacity, never giving up on a sale until the client either hung up or closed the door. A great salesman is able to control of the deal by asking questions and pushing for a decision.
6. HAPPY EMPLOYEES ARE MORE EFFECTIVE.
The work environment for a Stratton Oakmont employee was a mixture of tremendous hustle and wild parties. Belfort bridged the two extremes with inspiring speeches of encouragement. He always made sure to celebrate the company’s victories with his team and to included them in it’s success. Happy, loyal workers were the foundation of his company and guaranteed it’s future achievement.
There is always a positive lesson to take away from any situation. While Belfort achieved huge financial success, his lack of ethics and disregard for the law ultimately brought him down. However, by examining what he did right, we discover valuable take-aways we can implement in our own lives. What did you learn from the Wolf?
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