Jordan Belfort

We’ve all seen the movie “Wolf of Wall Street,” featuring Leonardo DiCaprio as the infamous stock broker Jordan Belfort. Some of us may have even seen the 1987  film, “Wall Street,” starring Michael Douglas as Gordon Gecko, a character willing to do anything to get to the top of the stockbroker game — even if it means breaking some laws. But how many of you realize that you can actually learn from these bad guys? The advice we glean, however, is all legal and fair game. Just remember – no insider trading, says Finbuzz.

  1. Keep up the tone of a conversation. Demonstrate confidence while selling. Try to keep the intrigue and spark the customer’s interest.
  2. During the first four seconds of a meeting or a call, you should stay especially focused to show your intellect, enthusiasm, and expertise.
  3. Keep in mind the “do not like – really like” information on a scale of 0 to 10. The customer uses this scale to evaluate three factors – you, your company, and the product.
  4. Consider the “decision-making barrier”. Sell your vision of a more positive future! Keep in mind the fact that people fall in two groups. It is very easy to sell anything to the first group, and impossible to the second.
  5. Also keep in mind the “payment threshold” or the “pain threshold”. The customer is more likely to make a purchase once it’s passed. Your task is to maintain the customer and convince him that he/she really needs the deal.
  6. Use the fact that people do not buy logic. People buy emotions.
  7. Sales manager needs to know what to say when he/she hears, “I’ll think about it.” That’s when the sale itself begins.
  8. If you ask, “When shall I call back?” you are deviating from your goal. You should go back a few steps and once again comment on your offer.
  9. Having recognized the profound problems that the client experiences, you will dramatically increase the chances of successfully completing the transaction.
  10. It is important to collect information to better understand your client and their needs.
  11. People fall into four categories: ­20% of people are ready to buy, 30%­ are willing to buy, but not now, 30% are c­urious, and 20% are not ready. Your task is to make 30% more people joi­n the first group of those who are eager­ to buy.
  12. You should be able to explain more than once that your product is stunning.
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