Wolf of Wallstreet

I used to run a small business and hopefully will again.  I know what it takes to make it work, so I know good advise when I see it.  If you want to open a business, or tune up your existing business, I recommend digging in to some Jordan Belfort on Youtube, otherwise known as the Wolf of Wallstreet.  I haven’t seen the movie, and doubt it has business advice, however his talks are spot on.  Here’s a summary of his main points.

  1.  State Control:  You have to have a pumped-up attitude which he calls your State.  Since you are the leader, perhaps running solo, you have to bring the energy to your company.
  2. Vision:  You have to have a visual picture of what it means to obtain your goals.  It must have detail, it can’t just be a one sentence goal.  So dates and detailed accomplishments, and what it looks like.
  3. Plan:  Turn the vision into a detailed plan.  It must be reasonable and actionable.  It must have steps you can check off, and reasonable dates to accomplish it.
  4. Hard Work:  You must commit and do it.
  5. Learn Sales:  You will sell in some way.  Key points: learn tonality.  Provide value and have a passion to provide value to your customer.  Your sales then become authentic.
  6. Set high stretch goals.  Not pie-in-the-sky, e.g. I’ll own a Caribbean island in 1 month, but if you think you can grow revenue 5%, up it to 10%.