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4 Sales Lessons From The Wolf of Wall Street Jordan Belfort

Posted by admin on Apr 30, 2014 4:03:41 AM

Con man turned motivational speaker Jordan Belfort, of "The Wolf of Wall Street" fame, knew a thing or two about how to live an insanely lavish lifestyle. As a self-proclaimed business consultant who's reformed his corrupt ways, Belfort actually has valuable experience to impart on sales and marketing pros.

Master The Art of Persuasion

Whether you cold-call or get your leads from a list, you need to know how to persuade your prospects. Your level of expertise and talent are handy, but strategic communication and persuasion tactics are how you'll get what you want. Belfort believes that if you can effectively communicate about your product, ideas and vision, you'll earn someone's time or money, emphasizes You have to provide value, build rapport and be clear. Maximize every second during your first impression with persuasive tonality and body language to command attention and deliver certainty. Match the other person's energy and provide cues, like leaning forward or nodding, to show you're listening and understand. A sale is built on emotion and logic, as well as trust and connection. How can you solve someone's problem?

Belfort's Straight Line Sales technique can even be applied to asking for a raise. While delivering your message, express your value to the company now and in the long-term. As you sell this idea, you'll build rapport and trust. Lastly, be clear; explain the benefits you'll provide for a pay increase.

Create a New Vision

Belfort shared tips for success with Grant Lewers, including creating a new vision for the future. A vision differs from a goal. You accomplish a goal, yet you experience an entirely new world by living your vision. To find your vision, think beyond your goal. How will your life improve once you achieve a goal?

If you're an independent sales agent, you likely have goals such as turning more leads into real conversions. As your business grows, services expand and sales increase, you could eventually become the CEO of your own firm (the vision). As CEO, your world changes drastically from when you were a sales agent. Professionally, the stakes are higher. Personally, you can afford more of life's luxuries.

Manage Emotions

When you're in the right emotional state, you can maximize your resources. If you're angry, frustrated or upset, your negative emotions control your mental abilities and affect your productivity or effectiveness. Think about a day when you were on top of your game. How were you feeling? What was your emotional state? Manage your state of mind and you can control your daily resourcefulness. Emotional management also includes certainty, clarity and courage.

Anne Kreamer, author of "It's Always Personal, Navigating Emotion in the New Workplace," tells Forbes the workplace is full of "cognitive threats" that can create a flood of debilitating emotion. Prevent emotional flareups by being aware of your emotional response patterns. Excuse yourself from a situation or communicate non-defensively to a colleague about how they made you feel. Practicing emotional control outside of work through meditation, exercising or journaling can also help provide overall emotional balance.

Defeat Limiting Beliefs

Don't believe you'll make the sale? You won't. Feeling insecure about your business? You're doomed. Your belief system will directly affect your success. Belfort didn't earn $50 million a year with second guesses and fear of failure. Belfort powered ahead with passion and fortitude. Your past, whether it's regret from 10 years ago or a mistake made an hour ago, does not determine your future victories. You cannot expect the biggest rewards by avoiding risk or thinking conventionally.

Embracing an outdated sales technique like cold calling is evidence of business ingenuity. Telephone marketing was Belfort's million dollar sales tactic, and it's re-emerging. Major players like Dell, Oracle and Morgan Stanely are boosting their outbound marketing efforts. Forbes reports on an study that found phone sales are growing 300 percent faster than traditional sales in the field. Blinding or restrictive business beliefs can be costly.

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