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Wolf of Wallstreet

by | Jan 29, 2018 | MBP | 0 comments

Wolf of Wallstreet is a powerful movie that outlines ups and downs of a broker. The most important function that a broker does is selling. We can find several amazing lessons on sales throughout the movie. Here, I list down some of my favorite scenes from the movie and the lessons that can be learned and applied from them.

Leonardo teaches everyone how to sell 

  • Having a script is the secret to your success. You need to have a script that makes your product offering the best out there for everyone. I always see salespeople go on a sales call without a script and struggle. This normally happens with people who are new to sales. Take time to write a script which outlines all the good things about your product.
  • Know your target audience
    • In this case, it is the wealthiest 1 percent.
    • You need to know who your target audience is. If you don’t, you end up wasting your precious time selling things the clients do not need or is not profitable to the company.
  • Know how to handle an objection
    • The more objections you get, more you can talk to your prospects.
    • The more you talk to your prospects, more chances that you can convince them to buy your product/service.
  • Know what the customer’s journey is probably going to be like (Know how to build trust)
    • Initially, they will always want to test you with a safe transaction.
    • Find this safe transaction -> anything that will not make them rich or poor, but something that builds trust.
    • After this, you build a trust and then you can sell them virtually anything. No one cross checks.
    • For eg: when we bought our first laptops for the office, I got prices from at least 5 shops from putalisadak, called 5 more people and found that one particular shop was the cheapest. We ordered, and have been ordering from them all the time. I never check the prices now. We just believe that they are probably giving us cheap. What’s it called? – Trust. Learn to build this.
  • Learn how to negotiate:
    • Negotiation can have 4 outcomes:
      • Lose – Lose
      • Lose – Win
      • Win – Lose
      • Win – WIn
    • Our job is to find a Win-Win outcome all the time. Everything else is below par and does not really work.
  • Always be closing:
    • The biggest sales tip ever is “Always be closing”
    • You need to know exactly when can you close the deal.
  • Make the whole journey fun (remember the last part when the customer says, this is fun)

Find something that will keep you relaxed

  • DO NOT DO DRUGS.
  • Sales is tough. You get rejections all the time.
  • You will feel like shit. But you cannot stop doing whatever you are doing.
  • You need to stay relaxed (Find a song you love humming to).
  • Find a way to make yourself relaxed. You will constantly have to keep your wits together. If you are not relaxed, you can be rude to the customers, which is not good.

Sell me this Pen

  • Stay Focused. Don’t worry about BUTs. Buts / Ifs are a problem. Stay focused on the problem at hand. Our problem is to hit that target.
  • Create urgency. Show that things that you are selling is scarce. It is special. We don’t sell it to all tom, dick, harry. We only sell to you, because you are special. you want to be special. If you want to be special, you better use our service.
  • Everybody wants to be special.
  • You can also get more tips in this science of persuasion video that i had shared last week.

Learn to motivate yourself

  • The telephone does not dial by itself.
    • Targets will not be achieved by itself.
    • They have to be worked on religiously.
  • You are warriors. You will not give up until you sell.
    • You are winners.
    • You are the best service provider there can be.
    • Your clients need your service, and you will not give up until they agree to use us.
  • All you have to do is, pick up the phone and dial, and you will be RICH*
    • Find prospects.
    • Convince yourself that prospects will benefit greatly if they use us.
    • Transfer that conviction over to the clients and the deal is done.

Know your perfect sales pitch

  • Notice the belief Leonardo shows off in what he is selling. Remember, we have the best service. What we are selling is the best. The client really needs to believe this.
  • Show what kind of returns can be:
    • We just checked your website and had our SEO analyst run some tests, and we found that more than 90% of your total visitors leave before entering other pages.
    • What this means is they cannot find what they are looking for.
    • Do you think we can come over and discuss how can we make the website better for you?
    • Because a similar company we work with last time are now getting at least 10 visitors daily from their website.