For some, the Wolf of Wall Street was a bit over the top. Be it the massive amount of drugs everyone seemed to consume or simply the close to three hour runtime. However, despite the final downfall, we can learn a lot from this movie from an entrepreneurial point of view.
The thing you need to remember is that often, there is a very fine line between being a crazy entrepreneur and being a con man. Jordan Belfort from the “The Wolf of Wall Street” was an unbelievable entrepreneur. He built a billion dollar empire from the ground up. Unfortunately, Belfort also crossed the line and engaged in criminal activity. Therefore we have decided to examine the positive, and more importantly, the legal aspects of the movie. Here is our list:
1. Think big
Throughout the movie Jordan Belfort played by DiCaprio was always thinking big. No matter how much money he was making, he was always thinking of ways to go bigger. This mindset is a constant with Jordan and it didn’t matter if he was just laid off from work or if he was making 70 grand a month. He always wanted to go bigger. This might be the most important lesson of all. The biggest danger in life is being comfortable. If you went to college and got yourself a good education you might be able to get a good job. You might find yourself working as a lawyer or a doctor making a handsome salary.
Once you have a decent salary, a roof over your head and food on your plate, most people find it impossible to keep going. To keep working to achieve bigger and greater things. People settle for mediocrity.
Jordan understood this and so should you. Remember, you are only ever limited by yourself so think big and don’t settle for mediocrity!
2. Keep your staff happy
Jordan Belfort threw wild and over the top parties for his staff. Every idea no matter how crazy (or how illegal) was on the table. We are not for a minute suggesting that you go as far as they did in the movie for the next office christmas party, but the main idea holds true. A happy employee is a motivated employee and a motivated employee is a committed employee that will go the extra mile for you. So remember to always be grateful for hard working workers and give them a reason to be loyal and just as importantly, give them something to lose. Of course this doesn’t mean going all soft. If for instance you catch an employee lying, he needs to be let go asap.
3. Know exactly what you want and take it
Jordan Belfort didn’t end up being super rich by accident. He wanted to be rich, he worked his ass off and achieved his goal. You must know exactly what you want and work towards it. If you haven’t defined a target for yourself you will be pushed and pulled in directions that society dictates. You don’t want that. You need to sit down think with yourself and write down what you want and then just go for it. Make sure that not a single day goes by without you taking another step towards your goal.
4. Get a loyal team
Jordan surrounded himself with loyal people. You don’t need Harvard graduates. Jordan goes right out and admits to the viewers that his people aren’t all that smart. The smartest highest achiever of the bunch is a law school dropout. That is because Jordan understood that loyalty comes before smarts. What good is a Harvard law school genius if he will stab you in the back and throw you under the tracks at the first sign of trouble? Therefore Jordan surrounded himself with friends and family. Make sure you can put together a loyal team you trust. If the said team also happen to be Harvard law school graduates all the better. Just remember that loyalty needs to come first.
No isn’t an option. You only hang up the phone if the customer buys or dies. Don’t give up easily. Most people will tell you why your ideas can’t work and why you can’t do it. The problem is that these negative people can’t do these things themselves so they tell you you can’t do them. Don’t let yourself drift in the direction of these negative influences. If we all got what we wanted the first time around we would all be very rich and successful. Unfortunately it doesn’t work like that. If you want something set it as your goal and don’t give up until you achieve your goal. There isn’t some hidden formula. It’s really that simple.