Jordan Belfort Wolf of Wallstreet

This is a highlight of Jordan Belfort’s selling live video that I had personally taken away from his lecture.

Jordan Belfort is best known for being one of the greatest salespeople in the world having been known for the iconic “Sell me a pen” in his movie The Wolf of the Wall Street.

1. A big strategy of selling is “Acting as if..” Now, this is something that you should still take away in general for a lot of things. Bravery doesn’t come when you’re not afraid but rather when you are most afraid and when most don’t want to do said thing. Overall, the idea is you don’t wait for some magic moment to appear where suddenly you’re some talented genius in said field.

Learn to be resilient. You will face lots of rejection and how Jordan Belfort deals with it is through self-reflection. Deep down, most people truly don’t think they’re great. People say they are but when they’re alone with their thoughts in bed they are faced with the negative memories causing a lot of doubt in their abilities that they had buried and tried running away. You must understand that failure is a huge part of success and to realize that even the smallest amounts of doubt can affect your entire mentality. Jordan likes to emphasize that you should never hide and bury the pain you go through as it will come at you in the worst way possible.

Our brains run parallel memories when deciding. You must always learn to avoid certain things by referencing your negative experiences but to also focus mostly on your positive memories as focusing on the negative memories is like taking a shot and worrying about missing rather than focusing on scoring and usually when people see the negatives they end up missing that shot.

Inner State:

1. State: your state itself, where you are emotionally.
2. Beliefs: certain beliefs bad or good dictate your success If you want to sell a product you must emotionally believe in that product. Quick physics lesson! Energy is transferred not created so your goal is to transfer that belief in the product into the other person.
3. Vision: where you see yourself in the future. It’s important to know where you’re headed and your desires as they serve as fuel and give clarity to what needs to be done for you now.
4. Goals: set high goals for yourself, don’t be afraid. A lot of people set small goals where it’s achievable without so much effort and end up being satisfied like that “the enemy of greatness is good” don’t aim so recklessly high where it’s fiction like “next week I’ll triple the sales google makes” your brain will automatically know its fiction and won’t strive for it.
5. Standards: It’s your set point, your standard. What you MUST achieve. Learn to have a high vision. Jordan Belfort gives us a story about this. He had 4 close friends who sold goods that are stored in coolers (drinks, popsicles, etc.) 3/4 of them sold 1 cooler’s worth every day. And the other 1 sold 4 every day (including Belfort himself). The other 3 were happy selling like $100 a day when the hourly pay was $1.30 because they wanted to do other things like talk to girls and party, etc. Which is fine that’s their standard Jordan’s standard was mansions and super cars so that’s what separated them.

What’s important is to make sure your standards match your vision some people have champagne visions while having cheap beer standards.

Another thing is people love lying to themselves when they have low standards. This whole thing can go likewise. Having high standards but weak vision not understanding why you do it can also lead to you fizzling out.

Outer State:

1. Rules and Strategies of Business Entrepreneurship: Even if you’re working for a company, you should still always think in a way on how you can increase sales and develop more leads. Treat it as your own business

learn to fail elegantly minimizing the damages of your mistakes and how you succeed learn how to scale that lead or replicate it.

• Marketing – Lead generation: Very often marketers run out of fuel when they don’t focus on this aspect of marketing. It’s important to figure out who your prospective best buyers are and how you bring them in a cost-effective manner.
• Sales – How you close the deal: For Jordan he says “I’m not in the business in taking no’s and turning them into yes. I’m an expert of ‘let me think about it’ and turn it into a yes or ‘let me call you later’ and turn that into a yes”. You would only be wasting your time and resources and building negative thinking of “I’m not a good salesperson” because you couldn’t get that no into a yes.

There are two types of buyers:

1. Buyers in power: This is the most common one you find and what separates excellent salespeople from mediocre salespeople. The buyers in power are the “Let me think about it later” people where they want to see other options before deciding. A good salesperson tries to connect with that individual while raising their pain points (ethically)
2. Buyers in heat: these are the easy customers that anyone can get where they want that product now.

But when it comes to buyers in power. Wake them up from their slumber of denial and make them act ASAP without lying, angering them and looking like a dunce.

Its important to have a powerful why. When Jordan Belfort was in prison the lowest point in all his current life, how did he still find a way to make a book while not being able to write before? It was his resilience to be more exact it was his why. When you’re alone with your thoughts you’re also forced to be honest with his thoughts. For Jordan it was his kids he wanted to prove that he could still turn it around he goes on to say “Your why is never going to be about you”. It’s going to be about the people you love unconditionally. Which I do believe to be true for many of us we have parents/caretakers that go to work despite not really happy with their lives still carry on working. It’s because we as their parents are their why reason as to why they keep persevering.

Q&A:

There were a few questions asked but what I found to be most important was “What does Jordan Belfort look for when hiring and recruiting people?”

1. He puts them through a psychometric test where he can see their sales DNA, hunger for success, their beliefs,etc.
2. Puts them into 3 Layers of Interviewing their behaviour, 1-1 interviews and a video interview
3. The sales bootcamp training a pre-employment training session where he finds out who is full of lies. He would kick those who are late to the lessons, make excuses, not doing their homework,etc.