The Real Wolf of Wall Street with Jordan Belfort

Date: May 1, 2014

Name: The Real Wolf of Wall Street Seminar

Presenter: Jordan Belfort

This is not just a seminar to become a successful salesman; in fact, this is a seminar to be a successful business owner. His presentation skill is aggressive and intense, yet his words and wisdom can open doors of opportunities in any working field.

 

What holds people back from achieving massive wealth & success?

He believes there are five aspects that hold people back from their dreams. The first is when people are in overwhelming state. The second is people do not understand why they want to be successful. The third is they do not know the rules and regulations to become entrepreneurs. The fourth is people do not know the strategy to ask or utilize other people’s money. Lastly, the last aspect is people do not know how to close the deal in business.

People need to believe in themselves. They need to find a motivation with strategy to drive them in success. It is important to sell yourself to others.

Two Types of People

Reason People:      People with reasons that they cannot succeed in their life

Results People:      People make you happy and find ways to solve problems

The relationship between marketing and sales are correlated. Marketers will bring the right people to the funnel. Sales will close the deals and generate revenue.

Belfort believes the core of business to monetize the value. He always asks himself the worst possible outcome before any decision-making.

“See your life as they are. Being Honest, not as worst as they are. See higher and find strategy to get them”

Belfort’s theory of achieving mastery of wealth & success consists of two worlds:

Master the Inner World of Wealth & Success

1)     Emotional State Management:

People who want wealth & success have a common emotional state, such as certainty, clarity courage and confidence. On the other hand, uncertainty, overwhelm, fear and self-doubt should be overcome.

2)      Empowering Beliefs:

People create two types of beliefs: Empowering and Limiting. Examples of Limiting beliefs are statements stop people from being all they can be, such as “If I get rich, I will be greedy” or “I am not good with money”. People with limiting beliefs tend to do three things: blame everything except themselves, justify everything, and they complain.

3)     Vision Focus:

People need to have a clear vision of the future. They need to know where they see themselves in the future. People do not follow goals, yet they follow vision. It is important to share the vision and focus on things attracting your vision. If you complain, you will focus shit. This means you attract shit.

4)     Thermostat / High Standards:

People need to set high standards. High standards will force people to overcome obstacles and find ways to break the bottleneck.

Master the Outer World of Wealth & Success

5)     Entrepreneurship:

Being entrepreneurs will make mistakes, and those mistakes can help themselves to grow. Therefore, failing elegantly is important factor for entrepreneurship.

Entrepreneurship needs to know
Corporate Structure	Delegating Authority
IT Communication	Human Resources
Operations	Compliance
Accounting	Art of Brainstorming
Corporate Finance	OPM

6)     Sales and Ethical Persuasion / Influence:

People need to sell themselves to the market to influence your beliefs to others.

Sales and Persuasion / Influence
How to get into Rapport	Creating Closable Presentations
Art and science of prospecting	Overcoming Objections
Tonality	Art of Looping
Being a Leader and visionary	Generate Massive Referrals
How to get intelligence	Creating customers for life

7)     Marketing

It is important to find ways to funnel the right people and create awareness

Marketing – Offline
Direct mail / Response	Word of Mouth Campaign
Telemarketing	Network Marketing
Door to Door	Community Outreach Programs
TV / Radio	Educational Marketing
Promotional	Joint Venture
Newspaper / Journals	Testimonials
Outdoor Advertising	Public Relation
Marketing – Online
Website	Search Engine Optimization
PPC – Ad Words (Google)	Video Sales Letter
Re-Targeting (YouTube)	Sales Funnel / Email Marketing
Conversion Rate Optimization	IPhone Application
Social Media Strategy	Blogs
Google Hangouts	Affiliate Marketing

8)     Multiple Streams of Income

Success people will find more than one ways to increase the revenue stream.

Multiple Streams of Income
Stocks and Bonds	Currencies
Commodities	Venture Capital
Real Estate

Including two worlds, successful people need to understand how to raise money and have the desire to learn and be mentored.

Successful businessmen require identifying the real target market because it is impossible to turn non buyers to buyers. If people feel fear, it could be excitement and Belfort refers that as reframing. If fear comes, Belfort suggests acting if you have the answer even if you do not.

Perfect plan does not exist in this world, so it is important to learn from the mistakes.

Belfort defines “Happiness” as “Not where you are right now, it is when you know the way or direction where you want to go”

Basic Entrepreneur Formula

The breaking point is to make massive actions. Therefore, people need the right plan to get the right actions. If something goes wrong, change one thing at a time.

Reciprocity

How the world works is to give value out first and they will return one by one. Belfort technique is to sell people things that are easy to buy. This will get them into the funnel and sell them something bigger.

During the communication with riches, Belfort believes the first 4 seconds of any conversation can determine the deal breaker. To establish the 4 seconds rule, Belfort needs to “Sharp as a Tack”, “Enthusiastic as Hell”, and “Expert in the Field”.

With these three tactics, Belfort becomes someone people want to listen to.

Any communication can be breakdown to two major sections: body language and tonality. Two things that must come across: “You care” and “You are just like them”.

Three elements of charisma from Belfort

1. Effective Tonality
2. Appropriate Body Language
3. Not saying stupid shit.

This will help create confident, persuasive, and professional in communication.

Five Elements of Human Influence

• Love your product
• Connect & Trust with you
• Connect & Trust with your company
• Action Threshold (Driven by Actions)
• Pain Threshold (People make decision when they are in pain)

By understanding the human influence, people will create effective communication and create potential deal breaker.

Belfort introduces his famous Straight Line Sales Psychology, a sales technique that he implemented to build a fast growing brokerage firms at Wall Street.