53 takeaways from the wolf of wall street's london seminar

Most people have seen the film by now and know exactly what this man, Jordan Belfort, has done in the past.

As a way of repaying the people he has stolen from in the past – Belfort now travels around the world and delivers motivational speeches and gives advice on how to sell effectively to people (ethically too!)

I attended his seminar in London at the Excel Centre and here is what I took away from it…

FAIL QUICKLY

Try different things out and see if they work. If they are not going to work then find

out quickly, move on and then go again

What’s Your Worth?

Work out a figure of what you think you’re going to be worth until you die. What is the figure? £200,000? £2 million? £20

million? Would an investor pay you £100,000 for a 10% stake in you? Would they get a return?

Get Honest With Yourself

The first step on the road to improvement is to get honest with yourself. See and evaluate how life is right now.

There Are Two Types of People

The REASON people will give you all the excuses as to why they can’t do or achieve something. That they are unlucky, they never had the opportunities, they blame their parents, upbringing – you name it. They give you the story of why they can’t do something.

The RESULTS people are action people, they have a “I can” internal dialogue and see the opportunities

and possibilities in everything

Reason Results

What’s Your Business System?

Marketing provides leads for the sales team to close. But what is your business system to make this happen and do you have a system

in place to monetise your activity and to make a profit?

“THERE’S AN INNER WORLD AND AN OUTER WORLD OF

WEALTH & SUCCESS…”

The Inner World

a. Emotional State Managementb. Empowering Beliefsc. High Standardsd. Vision Focus

The Outer World

a. Entrepreneurshipb. Sales & Influencing/Persuasionc. Online & Offline marketingd. MSI (Multiple streams of income)

Two Bonus Others

Expertise At Raising Money

Desire To Learn & Be Mentored

Your state is how you are feeling right now. You need to get into the right positive state before you do anything. Try and anchor positive feelings.

When anchoring most people think of a time that they were invincible and create a movement associated to that feeling. Try also to use the sense of smell too when anchoring, you’ll find this really intensifies the anchor and feeling.

POSITIVE STATES

These include:• Certainty• Clarity• Courage• Confidence• Compassion• Love • Patience• Happiness

TOXIC STATES

These include:• Uncertainty• Overwhelm• Fear• Self-doubt• Cruelty• Hate• Impatience• Misery

LIMITING BELIEFS

LIMITING BELIEFS ARE THE “SILENT KILLERS” OF SUCCESS

They hold you back and stop you from being what you want to be

What are your limiting beliefs?

You need to question the crap out of them to make you doubt them

A limiting belief is the story that you tell yourself of why you can’t achieve or have a certain thing

VISION FOCUS

You need to create

a compelling vision for the future. A vision is different than goals

and objectives and sits above both of these

How and where do you see yourself in 5 years-time and why?

The ‘why’ is very important as you MUST have a compelling vision that moves you and motivates you to jump out of bed every day to achieve

and strive towards it.

What can your vision include?

Where you live

JobBusiness

KidsSpouse

Charities

HolidaysCar

ANYTHING TO GET YOU GOING AND TO GIVE YOU A PURPOSE

You need to train yourself and force yourself to focus on your vision everyday

WHAT YOU FOCUS ON BECOMES YOUR WORLD

IF YOU FOCUS ON SHIT; YOU’LL BECOME A SHIT MAGNET!

Focus on the end vision but have peripheral vision to opportunities. Don’t be blinkered

HIGH STANDARDS

DO YOU HAVE HIGH STANDARDS ALL OF THE TIME? YOU SHOULD IN THE AREAS THAT ARE IMPORTANT TO YOU

THINK ABOUT THE STANDARDS YOU HAVE FOR…

YOUR BODY...

YOUR MONEY…

…YOUR RELATIONSHIPS

Do you have high standards in one area but not in another?

i.e. the rich man who weighs 25 stone

ENTREPRENEURSHIP

FAIL ELEGANTLY

Test out ideas/new divisions of your business/work without destroying your company. If it fails then make sure it fails quickly

TURN SMALL BUSINESS AND TURN IT INTO A PROFIT GENERATOR

“SUCCEED WILDLY”

AND GROW IT

LEVERAGE YOUR BUSINESS AND SALES,

IF YOU OWN A BUSINESS THINK ABOUT:

structure

staffing

IToperations sales

accountsfinance

delegating

brainstorming

OPM (other people’s money!)

THE ART OF BRAINSTORMING

This is really important to generate new ideas. Have sessions with your teams to come up with new ideas

MARKETING

SHOULD BE BOTH…

THE ROLE OF MARKETING IS TO GENERATE LEADS FOR THE SALES TEAM TO CLOSE

METHODS INCLUDEdirect mail, telemarketing, door-to-door, tv/radio, promotional,

newspaper/magazine adverts, direct response/offer based, outdoor advertising like

billboards, bus stops, word of mouth campaigns, network marketing, referral based

marketing, community outreach programmes, educational marketing, joint

ventures, testimonials – written, audio, video, PR, pay per click, SEO, email

marketing, affiliate marketing, social media, banner adverts

CAN YOU COLLECT EMAIL ADDRESSES THROUGH A SQUEEZE PAGE AND PUT THEM INTO A MARKETING AND SALES FUNNEL?

RAISING MONEY

THE PURPOSE OF SEEKING VENTURE CAPITAL IS TO FUND YOUR PROJECTS AND TO GIVE YOUR VC A RETURN FOR THEIR MONEY

TWO FUNDAMENTALS TO RAISING THE CASH

You have to ask for it! Obvious but many people just don’t

have the balls to ask

You have to structure the deal in the right way or it can cost

you tons of money

FOR EXAMPLE

• Someone pays you £1million for 85% of your company• Over time if you hit certain financial goals or growth

targets then the 85% becomes 80% • and then down to 70% • so you effectively earn back your company over time

DEAL STRUCTUREALWAYS MAKE SURE THE DEAL INCLUDES EARN BACK OPTIONS

SALES

TONALITY & BODY LANGUAGE ARE VITALLY IMPORTANT

THEY MAKE UP 90% OF ALL COMMUNICATION

YOU NEED TO SOUND AND ACT LIKE AN EXPERT IN YOUR FIELD

To create different tonalities you need to move your body in different ways. i.e when you are being certain do you clench your fist, when you are talking quieter do you

lean forward like you are telling a secret. Find out what your moves are

On the phone or meeting someone in person you need to demonstrate 3 THINGS within the first 4 SECONDS of

meeting them:

You’re sharp as a tack

Enthusiastic (not overly and cheesy but confident and assured)

You’re an expert in your field – an authority figure

CONTRARY TO WHAT YOU WERE TOLD AS A CHILD, PEOPLE DO JUDGE A BOOK BY ITS COVER SO PAY CLOSE ATTENTION TO THE WAY YOU PRESENT YOURSELF PHYSICALLY,

YOUR BODY LANGUAGE AND HOW YOU SOUND.

Jordan’s Straight Line System is about getting from the OPEN to the CLOSE and the steps you need to take “along the line”

in order to make this happen. If the prospect goes “off the line” your job is to get them back on it

THE STEPS YOU TAKE ALONG THE LINE INCLUDE

• YOUR OPENING TONALITY AND BODY LANGUAGE

• BUILDING RAPPORT • GATHERING INTELLIGENCE • THE PRESENTATION • THE CLOSE

Building rapport is not about using cheesy lines or making small talk about your shared hobbies or comments about

the family photo on their desk. Stay on topic and professional and build rapport by showing that you care and

that you know your stuff

GATHER INTELLIGENCE

You need to gather:

• Their needs

• Their beliefs

• The pain they are currently facing

THE PRESENTATION

After gathering their needs you need to present your solution to meet them. Start by saying “John, based on what you’ve told me our XYZ

product is the perfect fit for you”

IN ORDER TO CLOSE 3 THINGS NEED TO HAPPEN

LOVE YOUR PRODUCT

LOVE YOUR COMPANY/BRAND

THEY NEED TO TRUST YOU

THE PROSPECT HAS GOT TO SCORE YOU 10/10 FOR EACH OR YOU WILL NOT CLOSE. IF THERE ARE DOUBTS YOU NEED TO GO BACK

AND RESELL

Remember that as you travel along the line you are building up more and more trust as you go

You need a water tight emotional business case of why they should buy and also a water tight logical case. People buy on emotion and they back up their decision with logical reasons

At the close, your prospects are running two movies through their mind…

…the best outcome that will happen if

they buy…

…and the worst outcome…

…it’s your job to ensure that the picture they run is the loaded with all of the best outcomes they’ll experience by doing business with you

So there’s my 53 takeaways from the Wolf of Wall Street’s seminar. Take from it what you will.