10 secrets from The Wolf of Wall Street to achieve success.
We all know who the Wolf of Wall Street is thanks to the movie by Martin Scorsese, where Leonardo DiCaprio plays Jordan Belfort, a real former stockbroker who outsmarted the law (for a time at least) and made millions of dollars with his company, Stratton Oakmont.
While the movie itself depicts the excesses of Belfort’s life, it was way worse in real life, based on the book he wrote, as a memoir of his life, also called The Wolf of Wall Street.
Addicted to money, drugs, sex, alcohol, and living on the edge, it’s a miracle Belfort managed to survive those wild years, but before that, he was a rather normal person, with namely no addictions, fueled only by the ambition to conquer his world, like most of us.
Here are 10 secrets we can learn from Jordan Belfort:
1. Just do it.
The only experience Jordan Belfort had in stocks before starting Stratton Oakmont was when he worked as a trainee stockbroker at L.F. Rothschild. His experience didn’t last long since the firm collapsed in the 1987 stock market crash.
So after that, what does Belfort decides to do? Well, start his stockbroker firm of course! which we know was called Stratton Oakmont.
His initial success came by selling penny stocks to the wealthiest 1% of Americans, using misleading statements, all the while training his team to do the same. The cojones of this guy right?
He was rightfully indicted and sentenced to two years of jail after all his activities went uncovered, during which time he developed a passion for writing.
When he got out, he wrote The Wolf of Wall Street and made millions again as an author, public speaker, and salesman teacher.
He gives meaning to the word Entrepreneurship, Belfort teaches us that to achieve things, you just have to go and do it, no messing around, no second thoughts about it; when you have a vision, go for it like you would if you knew that you couldn’t fail, and then, you most certainly won’t.
Of course, do it without engaging in illegal and fraudulent activities, that isn’t cool.
2. Learn how to sell.
Learn how to sell? Definitely yes!
By learning how to sell I mean that it’s fundamental for you to learn to persuade and get your ideas across.
Learning to sell it’s not only about selling a product, or a service, but rather it’s about selling your ideas, your vision, and getting people hooked in your plans, allowing you to build momentum and reach your objectives.
It’s a skill that allowed Belfort to influence and put forth a big team, but also it’s a skill that has allowed him to stay rich even after getting out of jail.
Have you seen him publicly speaking?
I warn you, It’s addictive, and that’s because he’s a terrific salesman!
3. Know your market.
In business it’s crucial to study and know the market you’re getting into, meaning who you’re dealing with, what their ambitions are, and what can you offer yourself that will be a game-changer.
Belfort certainly did, he targeted the wealthiest percent of Americans and sold them the stocks of no-name companies, understanding that his clients were like gamblers, who would do anything to make money with little to no effort. He understood the game and learned to play it to perfection.
So when you throw yourself into your next venture, be sure to understand the terrain, and as a good army general, use it to your advantage.
Study who you’re dealing with, learn their motives and ambitions, understand what solution can you bring, and in no time, people will be attracted to you like a magnet.
4. Inspire & influence.
If you watched the movie, then this headline made instant sense, if not, I’ll quickly break it to you.
One of the secrets to Jordan Belfort’s success and wealth is that he was and still is, an excellent salesman, and that meant that he had the skill to influence those he made business with, but also inspire his team, which only contributed to his wealth.
He managed to inspire those around him, creating a sense of loyalty from his partners, and when you’re the mind behind it all, you are the reference when the time comes to do business with, creating a persona around yourself that only attracts like-minded people.
If you look at any successful businessman, they could inspire and influence, so what are you waiting for? Let go of that inner potential and get your ideas out!
5. Never give up.
Belfort’s first experience as a stockbroker was short-lived when the firm he worked at, named L.F Rothschild, collapsed in the 1987 stock market crash.
But he didn’t stop, and instead, started his own brokerage house Stratton Oakmont, with which he and his team made millions defrauding shareholders, ending with him sentenced to jail for two years, losing his marriage, most of his fortune, the company, and sent to rehab.
Did his career end? Absolutely no, it was just starting.
After serving his time in jail, he continued his career as a writer and motivational speaker, teaching entrepreneurs all over the world how to sell and apply his long-life business approaches, all the while using the money earned to pay his past victims.
By now, it almost seems like Belfort attracts riches, but it isn’t a casualty blow, he hasn’t stopped working, even after reaching the top.
In your quest for wealth, you’ll encounter all kinds of obstacles, but if you keep going, putting your ideas to action, you’ll attract the things you focus on. Remember that, the harder you work, the luckier you get!
6. Be unconsciously competent.
Would you know how to tie your shoes with your eyes closed and a monkey yelling at your back?
Well, you most certainly can, but there was a time where you probably couldn’t, and that’s because you weren’t unconsciously competent as you are now.
So what does that mean exactly?
In Belfort’s own words, there are four levels of competence:
· Unconscious incompetence
· Conscious incompetence
· Conscious competence
· Unconscious competence
This means that at first, you’re conscious that you don’t know a skill for example, and as you try to learn it, you slowly begin to be more competent on a conscious level but you still wouldn’t be able to do it spontaneously, it still wouldn’t be as easy.
But then you reach a level where you’re unconsciously competent, meaning you probably would do it even while drunk, with your eyes closed and of course, a monkey screaming at your back.
Jordan Belfort is an excellent salesman and a terrific public speaker, and he does it naturally like he was born for it, but the truth is, anyone can do it, by reaching that level of unconscious competence at certain skills, you’ll be the master of your fate.
7. Act as if
Ever wonder why rich people just seem to attract riches even after filing bankruptcy? Well, that’s because they decided to be rich long before they became rich, and consequently, acted like it.
Before Belfort’s success as a stockbroker at Stratton Oakmont, he accounts that since very young, he always wanted to be rich and pursue money endeavors.
He always acted as if, and that way, all his thoughts, emotions, and feelings were aligned to that very mindset, and in consequence, he attracted it, since he was both consciously and unconsciously aware that he wanted to be rich, he acted accordingly, pursuing those very objectives.
You may not yet be the person you wish to become, but whoever that is you better start walking like it, talking like it, and mean it, and no doubt you’ll reach it one day.
8. Create your circumstances.
When L.F. Rothschild collapsed in the 1987 stock market crash, Jordan Belfort went on to create his own brokerage house, and then after he’d been indicted to jail, he decided that instead of being remembered as a criminal for finances, he would continue his career as an author and public speaker, teaching millions around the world on salesmanship and businesses, paying his victims along the way.
Belfort certainly knew how to manipulate his reality, changing the tide in his favor.
Because let’s face it, we all sometimes give excuses as to why we can’t do or achieve something.
Sometimes without really knowing why, we blame our parents, our surroundings, the government, the economy, or just about anything our mind comes across.
But that’s just our mind finding excuses as to why life isn’t fair, and the reality is: that it isn’t.
Life’s not fair, but that shouldn’t stop you from pursuing your endeavors and creating your circumstances.
True entrepreneurs understand this and apply it to their lives: you’re not a victim of your circumstances, and yes, sometimes they may be harder than the ones from the person next to you, but it doesn’t matter, you have to take hold of your life and create your conditions, play the game by your own rules.
9. Surround yourself with like-minded people.
I’ll tell you something that by now it isn’t so much of a secret, but a big chunk of your success depends on who you surround yourself with.
Jordan Belfort certainly had an ambitious team (and wild one too, I know), but the truth is that they all had the same goal in common: make millions of dollars.
You may have big goals and the best ambitions, but if you hang out with people that do not have the same objectives, the truth is that they’ll only slow you down, or worse, drag you.
Whatever industry you find yourself in, be sure to surround yourself with the best and the most ambitious, not only will you learn a lot but you will have a competitive environment that will force you to challenge yourself and leave it all in the field.
10. Do it for passion, not greed.
Jordan Belfort came to have all the money in the world, but that couldn’t save him from himself. As he grew richer, so did his use of drugs, and personal life problems that almost led to the destruction of his life.
There’s nothing wrong with wanting to be rich or have nice things. But money itself will not solve your life.
Be content with what you have, seek money as a means to reach other objectives, but do not depend on it for reaching a state of wellbeing, because like any other drug, once you have it, and you get used to it, the high will wear off and you’ll find yourself wanting more, never really getting enough and finding yourself in an endless cycle of a meaningless search.
In your quest for wealth, be sure to do it for sport and passion for your craft, but remember that getting there is part of the road, and not an end on itself, for if you bet everything on it, including your sense of happiness, the day you get there, you’ll realize you’re the same person, with the same insecurities, and things can get ugly.
