My Reading Notes for:
The Way of the Wolf
by Jordan Belfort
Straight line selling five core elements. They must love your product. The prospect must trust and connect with you. The prospect must trust your company. Lower the action threshold. Raise the pain threshold. Every sale is the same. Because three key elements must line up before you have a chance to close them.
The three tens dot one. A scale of 110. Where are they on the certainty scale? The certainty that they will be sold. One is hate. 5 is ambivalence, 10 is greatest thing since sliced bread. Below 5 you have no chance. Because of positive intent, i. e. We are not going to make decisions that we don’t think will make their life better.
Though that doesn’t mean it will have positive impact. Need to hit the 3 10s to have a shot at closing. Oh, this means a closing. You will get some no’s up front in the intelligence gathering phase. It’s not the job of sales people to turn no’s into yes. It’s the job of sales people to turn the Let me think about, it’s, let me talk to my wife.
It’s a bad time of year into yes. Objections are just smoke screens that you haven’t hit the three tens. Because it’s less rude or confrontational than saying I don’t like you. I don’t trust you. When they switch from one objection to another, it’s because the root problem ten hasn’t. Been solved yet.
Your product, idea, or concept, they must love your product. They must think it’s the best thing since sliced bread. They trust and connect with you. Do they think you are a likable person who is an expert in your field, who will be there to help solve any problems that will come up? Rapport. Are you just asking questions that seem like you are only interested in maximizing your commissions?
They must trust the company that you work for could be negative reviews. Nailing this one, Fortune 500, can actually help one and two. Makes it harder for smaller companies. Two types of certainty. Logical certainty, based on the words you say. Does it add up intellectually? Long term value probability. Fit their needs and price fairly.
The bullshit detector. Emotional certainty. Gut feeling. The feeling that there is something that needs to be filled. Something is missing and it needs to be done. Creates want. Future pacing. Play out the post buying movie in the best way possible. Their itch is scratched and they are feeling wonderful.
People buy based on emotion and justify with logic. It’s important to listen because it gets you rapport and gives you massive intelligence. MI lets you find their core beliefs. Don’t like business over the phone, past experiences, good and bad, values, don’t like salesmen, like charity, financial standings, wealth and spending ability.
Where does their pain lie? And amplify if they’re in denial, ask a lot more questions than you used to. Can train a monkey to take control and run the first half. Selling begins on the second half. Second half starts after you ask for the sale the first time. Be ready to field at least three objections, smoke screens, and go back into their presentation.
Act as if success is a foregone conclusion. He did two huddles per day that were a combination of skills, training, and motivation. Looping. A technique for handling objections. Allows the sale person to take each individual objection prospect’s level of certainty without breaking a rapport, then seamlessly transition into a close.
Secret sauce of the back half of the sales prospect, small increments toward trust, high action threshold, people who require a lot of motivation for action, low action threshold, people who require a little motivation for action, is malleable, people move away from pain and toward pleasure, so pain is the perfect motivator, must undercover their pain points and show how our product remedies it.
This in seconds. As humans, we are fear based organisms. So we must size something up instantly to make sure that we know if we have to stay or run. So clients will make a snap decision about you within four seconds. Think about the one stone four seconds of an obvious TM call must show quickly that you are sharp as a tack, enthusiastic as hell, and an expert in your field.
Oh, and need to speak like it. Harvard proved it was five, and that it takes eight subsequent positive impressions to overcome a bad first impression, because you absolutely must take control of the conversation. Otonal shifts are the new body language when you are on the phone, though they need to sound natural to be super effective.
Use modulation. Raise, then lower. Whisper, then speak up. If you stay in one tone too long, prospect will tune out. Otonality and body language is about 90 percent of our communication efficacy. But that is only when we aren’t speaking, which is most of the time. Though once we are speaking, words are vitally important.
Words impact logical mind. Tonality and body language impact unconscious. Sharp as a tack. You are a born problem solver that is worth listening to because you can help them. Achieve their goals, needs, desires. Mental agility. And you have to work your ass off to become an expert while you are acting as if.
Enthusiastic as hell. Full of energy. Upbeat. Genuinely believe in the product and the problems they solve. Expert in field, authority figure, and force to be reckoned with. Makes them defer to you. Translate the features and benefits in ways that matter to the customer. Basically, they should be honored that someone of your caliber is talking to them.
Act as if. Run the movie of you being successful over and over and over. All part of state management. Your state determines your attitude, which determines your success. Used to create empowered states, when you need them. People make their best decisions when? In an empowered state. Four core states that you must be able to trigger at will.
Your four linchpin states for wealth and success. Certainty. Clarify. Confidence. Courage. The strategy for setting a state is olfactory anchoring. From NLP, the software of the brain is language. And words are the code. Most people think their state is determined by the things that are happening to them.
It’s really determined at any particular moment or what you choose to focus on. O, your current physiology. It’s Pavlovian. In NLP, the bell is the anchor and ringing it is firing the anchor. O, most common one in sales is yelling yes and clapping your hands. Formula for managing your state. Choose a state.
Set an intention for the emotional state you want to enter. Make it forward. Looking. Based on the circumstances you are about to make. OIE absolute certainty. Choose your focus. Close your eyes and go back to a time when you were the epitome of your. State. OIE how you felt after a big sale. Create a vivid picture of it in your mind’s eye.
Take in the whole scene. See everyone there, looking exactly how they looked and even how the room looked. From above. Disassociated. State. Choose your physiology. Change your physiology to how you will be when you encounter that. State. Don’t be shy or bashful. More is more. Can take picture from step two and put yourself into an intensifier state.
Use your five senses and manipulate it in your brain to increase the certainty. Visual, auditory, kinesthetic, gustatory, olfactory will use some more than others. Instruct your brain to make the picture bigger and brighter and more clear and increase the emotions. Add on dialogue with perfect tonality and body language.
O studies have shown that our brain is more impacted by the size and clarity of the picture watched on. Feelings should intensify as you make them bigger and brighter. Oh, can you even imagine the feelings growing into a part of your body? And feel it radiating from there. Can put your hand over it. Make it spin or swirl.
Can add colors or swirls. Or use your head to move it around in your body. Set your anchor. Link the state to a word or a mantra or a sound. Needs to be extreme and replicable. Or repeat several times. Belfort used a product called Boom Boom Energy Inhalant to make it olfactory. And actually physically put himself into the situation that generated the peak state and set the anchor.
He would sniff the boom boom ball up fist really hard and beat into chest saying yes forcefully core tonalities in reality We can often not realize how far off we are from our natural positive tones Tonality is the secret weapon of influence because here’s words without you having to say them Never address the prospect in an overly formal manner.
Hi is John there in an upbeat tone how you would respectfully greet a friend Phrasing of a declarative as a question. Hi, my name is Bill Peterson calling from Acme Travel Company in Beverly Hills, California You How are you today? Upbeat at end. Oh, but phrase the three segments of the first sentence with question tonality.
You infer of a micro agreement of Right, right, you have heard of us, right? Lends a bit of a Hey, am I supposed to know who this person is? Opens the brain in search mode. So they are paralyzed to come up with rebuttal. Oh. Imagine a kid saying, Daddy, we are going to the toy store, right? You said so, right?
Today, right? Oh. Use sparingly. A justifier. Dramatically increases compliance rate, seeking permission to enter intelligence gathering. Mystery and intrigue. Oh. Now, John, the reason for the call today is we are reaching out to a select group of homeowners in your area to offer them. Oh, start it out at a tone just above a whisper, then hang on the R in reason for an extra fraction of a secret.