How To
What Entrepreneurs Can Learn From The Wolf Of Wall Street
Everyone who has ever watched the Titanic will agree that Hollywood actor Leonardo DiCaprio is a godsend to the cinema. All the roles he has played in the subsequent years have only strengthened his hold over million hearts. His spectacular role in the Wolf of Wall Street definitely left us wanting for more.
The book and the movie, which portray the life of the crooked stockbroker Jordan Belfort, are excellent sources of information for every entrepreneur. Here are some life lessons from The Wolf of Wall Street.
1. Keep it big!
“People settle for mediocrity”
Throughout the movie, there was never a moment when Jordan Belfort wanted to settle. Not even the second best would do. This is one mindset that will take every entrepreneur far. Think of a dream that others find impossible and then achieve it. All of the successful entrepreneurs in the world today didn’t achieve what they did from working a regular job.
2. Create and upgrade the system
Jordan Belfort came up with a system that worked well with all high end customers. He then trained all his employees to follow his script and improve upon it to better hook their prospective clients. While Jordan Belfort might have taken it a step too far, never loose sight of your honesty and create a system that sticks true with your work ethic.
3. Get a loyal team and keep them happy
Jordan Belfort hand selected his team and taught them how to work the phones. Then he made sure they were appreciated and happy. Although he threw wild and over the top parties for his staff, even a small team outing or team lunch will also be a great step in making the employees happy. A happy team will go the extra mile for a boss who cares about them.
4. Time it right
Know what you want and how you plan to get it. But most importantly know the right time to go and get it. In a constantly changing world, it is important to understand the environment before launching a new product or service or even your company. Take a step towards your end goal daily, but make it a point to also know about other such steps taken in the outside world.
5. Evolve
Life is all about evolution. Keep it a point to upgrade and improve your system, product, services and most importantly yourself. Push your limits daily and learn from mistakes made by both you and your team. It is also important to constantly listen to feedback as they will allow you to understand what your company is lacking and what can be improved to better your company.
It is remarkably one of the greatest movies made but there are some key elements an entrepreneur should avoid while conducting his business. While Jordan had the will, zeal and the enthusiasm to become one of the greatest businessmen, he lacked certain key elements that limited his growth.
Understanding those limitations is also equally important to maintain a steady growth for your company. Never underestimate the power of your customers. They might believe you now, but lie to them once and all faith will vanish in the blink of an eye. It is also good to provide the customers with the greatest benefits and advantages. Jordan did build an empire but he was also jailed for 4 years and ordered to pay a $110 million fine.
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