Today’s post is about Jordan Belfort “Wolf of Wallstreet” and his persuasion techniques.
First of all, I’ve been in sales since a lot of years ago, as you know you start getting rejected and feeling really bad with yourself.
But that’s because you don’t have an idea of what are you doing and it’s totally fine, they don’t teach us those things in school, huh?
Consequently, we all been there in awkward situations trying to sell some stupid product nobody needs from a Multi-Level Marketing scam.
Seems like the initiation of a salesperson, you are young, inexperienced and trying to make a living but everything goes wrong.
Certainly, if you don’t know what are you doing unless you are pretty lucky you will get a lot of frustration.
With this in mind, let’s get into it:
Sell like Jordan Belfort
Charisma = Confidence + Social Skills
Consequently, you’ll be able to influence a lot of people and you gotta work on yourself first.
Jordan Belfort is naturally a charismatic man and he learned a lot with his mentors in wall street.
Your prospect must love your product, trust you as a person and must be stimulated.
Learn how to use your voice
Your voice is one of the most powerful tools you have so you must to get skilled with it.
Thus the same words with different tone give a different feel.
When people talks and it’s so pleasurable… And when certain people talks, it’s just revolting.
For example, I have a female friend that when she talks I fall in love so bad.
She has a beautiful voice, but that’s not the only thing, that’s because she knows how to use it.
As a result, she can make sound smart something really stupid.
Now tell me, how many people do you know that can do the same than my friend?
Jordan Belfort doesn’t have a beautiful voice like her but he knows how to seize what he has.
Almost no one knows how to stimulate people using the voice. Let me teach you how to do it:
Sometimes you say something and get misunderstood because you didn’t use the correct tonality so let’s get into it:
Absolute certainty- Your voice takes a firmer, more definitive tone.
“Look, I’ve been using BMW’s for years and I tell you the driving experience is delicious”
Sincerity- It is a calm, confident, low-pressure tone from the bottom of your heart.
“If I were you I would buy this CPU because it will let you render faster your videos and save a lot of time”
Reasonable- Your voice goes up and down and goes from slow to fast
“You can buy this muffler for your car (Normal) , it’s a few bucks more expensive (Faster) but it lasts 3 years more (Slower)”
Scarcity- Lower your voice and talk slow
“This dress it’s reserved for someone very special and they would kill me if you buy it, But I can take the risk!”
Implied obviousness- Your voice goes excited about what you are saying because it will benefit your prospect
“Of course this is the best value for your money! This is the best of its class, period.”
Excited- Your voice sounds very energetic and enthusiastic like when you see an old friend
“Hi Mr. Sanchez, how are you today?”
This will sound harsh but people are very shallow and you can complain about it or use it to your favor.
Jordan Belfort says that you have 4 seconds to make a killer first impression.
Because if you don’t, you can’t influence a person.
First of all… Smile whenever you are talking through phone or face to face:
Hi, is Rick there? (Excited)
In this case, tonality is: “I really want to know”
(He raises his voice a little at the words “Stratton Oakmont”)
Hi Rick, this is Jordan Belfort calling from “Stratton Oakmont” How’s it going today?
Ok, great ( Excited).
Now, if you recall (Scarcity), You attended a seminar last Thursday night over at the Marriot Hotel (right?), with one of our top traders there (right?), James Ournell? Does that ring a bell?
Consequently, you have 4 affirmations
Ok, great (enthusiastic). Now (Absolute certainty), the reason for the call today (Scarcity) is that you’re one of the last of the group who hasn’t enrolled yet (Scarcity).
If you have 60 seconds (Pause), I want to share an idea with you, got a minute? (Reasonable)
Ask for permission to ask questions.
U se the Sincerity tone and amplify the pain that person is feeling.
So give that person the impression you are a good friend with positive energy.
Accordingly, be humble, confident, enthusiastic, respectful and caring.
And go from certainty to calmness to reasonability.
How to close
When the customer loves your product, you and your company, all at the same time, they will buy.
All three factors are important and no one can be missed out.
If someone says NO it’s because:
- They’re not convinced about your product
- They don’t like you
- They don’t trust your company
The most likely the prospect will say: “It sounds good but let me think about it”
You’ll be investing your funds directly alongside institutional money. So you know what they say about institutional money?
It’s smart money. Even when it’s not, it’s enough to fuel the market anyway, you follow me? He says yeah because that makes sense.
Exactly (raise up), it’s one of the basic truths of currency trading.
Now its time to sell yourself. To do that you create an example that is undeniably logical that the prospect has to admit you’re right.
Let me ask you a question. If I’ve been your broker for the last 2-3 years, making you money, you wouldn’t be saying let me think about it, but which is the next move, I’m I right? (Disarming tone)
If he says no or maybe:
Obviously, you don’t know me. I don’t have the luxury of a track record together. Let me tell you a little bit about myself.
My name is Jordan Belfort and I’m a broker on Stratton Oakmont, and I pride myself on helping my clients get the best possible result.
I cannot go there by being wrong and not getting clients the exact results they want.
Here you sell the company, and if it’s possible to give the owner a name and explain about what he prides himself.
My business is referrals and as far as the company goes, the management team is blue chip all the way. And the owner XY prides himself on…
Now, you can give the prospect a chance to start small. (If that’s possible).
Listen, do this. Start small and after a couple of months when you see that you’re making a profit, you can increase the amount.
- Develop rapport with the customer
- Ask questions to understand clients needs
- Every time the customer tries to take the conversation away from the sale, bring it back
- I can’t afford it
- I need to think
- This is bad timing
- My wife will kill me
- I need to speak with my wife
- I’ve been burned before
The best time to overcome objections is BEFORE they come up. That simple!
Buyers vs non-buyers
Don’t try to push products on people. Jordan Belfort says it’s not about forcing things, it’s about helping people.
Some people are never going to buy. Surely you can force it but they will never buy from you again.
If someone doesn’t buy from you but buys from someone else, that means you didn’t cause a good first impression.
Therefore, for every 100 people, 30 are ready to buy right now 30 wanna buy 30 are not sure 10 don’t wanna buy anything.
No matter how good you are. You need to memorize a script and sound natural and I’ll show you how in the next section:
How to sell a pen
Remember that scene from the Movie where Jordan Belfort asked people “Sell this pen”
Do NOT try to sell a customer by listing the benefits and features of your product!
Sell symbols, status, emotions, and experiences.
Only then once you know what the customer is looking for can you provide a solution to their problems.
Let me show you how I would do it:
- Me: Good day sir (Excited)
- Customer: Hello!
- Me : Sir your suit looks very good, I like it (Absolute certainty)
- Customer: You like it ? it’s an ARMANI
- Me: You have a great taste. (Sincerity)
- Customer: Yes I love this suit.
- Me: Sir, please experience the writing with this masterpiece (Absolute certainty)
- Customer: Oh my god this is almost a sexual experience it feels so good.
- Me: It is extra ordinary Montblanc special edition JFK Fountain pen. (Excited)
- Customer: (Still writing and practicing his fancy signature) Good, how much?
- Me: $800 (Scarcity)
- Customer: $800 for a pen? why?
- Me: This masterpiece you are writing refers to both Kennedy’s time in the U.S. Navy and the famous Ivy League style. (Implied obviousness)
His initials “JFK” are engraved on the platinum-coated clip, and the three platinum-coated cap rings stand for Kennedy’s three brothers. (Excited)
In a tribute to the national hopes and dreams embodied in Kennedy’s pet project, the Apollo space program (Absolute Certainty)
The handcrafted 585 gold nib is engraved with the lunar module that landed on the moon in 1969. The Special Edition is crowned by the Montblanc emblem in precious resin. (Sincerity)
Therefore, think about the message you are going to send to someone when you firm a contract with this pen … (Scarcity)
So that person would be like “Oh this is getting serious! (Implied obviousness)“
- Customer: SHUT UP AND TAKE MY MONEY!
You must sound enthusiastic, sharp and expert in the field, talking with a smile on your face.
Use your voice to make people feel like they are talking to a good old friend.
Don’t try to build rapport by talking about other stuff with your client.
Don’t ask “How are you?” just say Hello, Good Day, be brief!
Just focus in this mindset “you are an expert and a person that can help them to achieve their goals.”
You are there to help people with their needs.
If you want to hang out with clients do it after the sale, not before.
Everyone has a unique buying strategy and you don’t know how they are feeling at the moment.
So if you want to sell something you need to ask questions
In addition, many people have been screwed by shady tactics of salespeople.
Hence, this is the plan you must follow
- Create an airtight logical case
- Create an airtight emotional case
- Build up enough positive beliefs and reasons to buying
- Break through their limited buying beliefs
- Eliminate all of their reasons not to buy
- Having them admit that they should be buying
Finally, if your customer/client does buy purely based on emotion, sometimes they will ask for a refund.
Now get out of my blog and start practicing!
See you in the next post!