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14 Lessons We Can All Learn From “The Wolf of Wall Street”

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Both the book and the movie “The Wolf of Wall Street” contain many crazy, entertaining, and decadent stories. But beneath all the debauchery there are a number of key lessons for you to learn from the success of Jordan Belfort and Stratton Oakmont.

Read on for some great insight into this motivated business man that will show you how Jordan Belfort was able to build a super pumped organization before it all came tumbling down.

 

 

 

 

 

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Wolf of Wallstreet

 

 

1. Execute on Ideas

Stratton Oakmont’s initial success was based on two premises:

• That Belfort had come up with a way of teaching young, uneducated people how to sound like professional stock brokers over the phone.

• That rich people love to gamble – especially when the gamble seems like a legitimate business opportunity.
While there had been other people on Wall Street who’d had the same idea, Jordan Belfort was the first person to execute on this idea.

 

2. Simplify

The reason Belfort was able to transform young, uneducated people into charismatic stock brokers was because he was able to impart his knowledge by giving simple instructions in a way that even the most stupid employees could easily understand.

“And as word of this little secret began to spread throughout Long Island—that there was this wild office, in Lake Success, where all you had to do was show up, follow orders, swear your undying loyalty to the owner, and he would make you rich—young kids started showing up at the boardroom unannounced.” – Jordan Belfort

 

3. Put Together a Loyal Team

Guys like Kenny Greene and Danny Porush weren’t the smartest guys around. But, they were long-term friends who were fiercely loyal to Jordan Belfort.

What does this mean?

That it might be a good idea to work with old friends who knew, and liked you, before you got rich and successful. By doing this you will reduce the risk of:

• Becoming betrayed or backstabbed by two-faced people.

• Making stupid decisions because you’re surrounded by yes-men who don’t give you accurate feedback.

 

4. Diversify Competence

Why were Jordan Belfort and Danny Porush a good team?

Because they were very different:

• Belfort had sleeping problems. Porush could fall asleep everywhere – even during bumpy plane rides.

• Belfort was a highly strategic leader who specialized in delegation. Porush was a good enforcer –brutal enough to eat a gold fish to put employees in their place.

• Belfort was analytical and had a long-term orientation. Porush was emotional and short-sighted.

They were both good at different things – but together they were a great combination.

 

 

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wolf of wallstreet jordan belfort

 

5. Dress for Success

From day one, employees were instilled with the mantra that they had to act as if – starting by dressing well and looking the part. The purpose of this was to improve their self-esteem and charisma.

Jordan Belfort even hired a guy to create tailor-made suits for the up-and-coming employees of Stratton Oakmont.

 

6. Gather Intelligence on Rivals and Enemies

Belfort gathered intelligence by:

• Bugging the SEC people who were investigating Stratton Oakmont.

• Befriending FBI agent Jim Barsini and getting information about the ongoing investigation on Stratton Oakmont.

 

7. Guard Your Secrets

Jordan Belfort carefully guarded his secrets by:

• Drafting legal documents to create plausible deniability for shady deals.

• Having the office of Stratton Oakmont and the houses of the top employees swept for bugs regularly.

• Never speaking over the phone about past business deals.

• Using pay phones and other covert forms of communication to ensure that no one listened in on what was being said.

Note: While your business probably differs from Belfort’s by being legal, it’s still a good idea to gather intelligence. For example, you might meet an employee of a rival firm for drinks to learn about the internal gossip going on over there.

 

8. Study History and Learn From Past Mistakes

Said by Belfort to a Swiss “master forger” while discussing banking laws:

“I’m a student of history, Roland, and I’m a firm believer that he who doesn’t study the mistakes of the past is doomed to repeat them”. – Jordan Belfort

You should follow Belfort’s example by:

• Studying past events in your profession to see what it was that made other people succeed or fail.

• Studying the great men who came before you.

 

 

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jordan belfort business

 

9. Establish a Concrete Reputation

There was never any doubt to the employees, nor the public, that anyone could make a ton of money by working for Stratton Oakmont. To confirm this, the only thing you had to do was take a look at the young, racially diverse, sometimes acne-ridden, well-dressed young men that spread havoc on Long-Island.

“The very idea of Stratton is that it doesn’t matter what family you were born into, or what schools you went to, or whether or not you were voted most likely to succeed in your high-school yearbook. The idea of Stratton is that when you come here and step into the boardroom for the first time, you start your life anew. The very moment you walk through the door and pledge your loyalty to the firm, you become part of the family, and you become a Strattonite.” – Jordan Belfort

 

10. Create a Set of Core Values that is Easy to Grasp

The core value of Stratton Oakmont was to seize the day. What this really meant to the employees was to:

• Make as much money as possible.

• Compete with colleges who could spend more money and live a crazier and more luxurious lifestyle.

–And what are some common core values of contemporary companies?

• Sustainability.

• Environmental friendliness.

• Integrity.

Which core values do you think are easier to communicate to the employees and make them live by?

 

11. Lead by Example and Set the Standard

No one over at Stratton Oakmont spent more money on buying luxury items, drugs, prostitutes, or partying than Jordan Belfort. He represented the epitome of the lifestyle that the employees sought to achieve.

“It’s important to keep these guys chasing the dream. And it’s even more important to keep them broke.” I gestured over to the plate glass. “Look at them; as much money as they make, every last one of them is broke! They spend every dime they have, trying to keep up with my lifestyle. But they can’t, because they don’t make enough”. – Jordan Belfort

 

12. Create Expectations

At Stratton Oakmont employees were expected to work their asses off and make a lot of money. Anything else was frowned upon.

“A rookie stockbroker was expected to make $250,000 his first year. Anything less and he was suspect. By year two you were making $500,000 or you were considered weak and worthless. And by year three you’d better be making a million or more or you were a complete f#%$ing laughingstock.” – Jordan Belfort

 

13. Provide Incentives for Hard Work

Not only were the employees of Stratton Oakmont paid far above the going rate for stock brokers – but a select few of the hardest working employees were also eligible to branch out on their own and start brokerage firms under Belfort’s guidance.

“It was what every Strattonite dreamed of and something I touched upon in all my meetings—that if you continued to work hard and stay loyal, one day I’d tap you on the shoulder and set you up in business. And then you would get truly rich.” – Jordan Belfort

 

14. Keep People Dependent on You

To ensure that employees were not only motivated to work, but literally had to stay at the firm and continue making lots money, Belfort encouraged employees to live beyond their means.

“I want you to deal with all your problems by becoming rich! I want you to attack your problems head-on! I want you to go out and start spending money right now. I want you to leverage yourself. I want you to back yourself into a corner. Give yourself no choice but to succeed. Let the consequences of failure become so dire and so unthinkable that you’ll have no choice but to do whatever it takes to succeed.” – Jordan Belfort

Jordan Belfort Picture Quote

 

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Question:

Are there more lessons to be learned from the Wolf of Wall Street? If you have any of your own, please leave them in the comments section below.

Ludvig Sunström runs Start Gaining Momentum where he writes about practical self-development and gives no-nonsense tips for becoming more efficient and stepping up in life. He is also the author of Breaking out of Homeostasis , a book about claiming more control over your life by overcoming the brain's innate mechanism for staying the same. Feel free to connect with him on Twitter and Google+.

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75 Comments

75 Comments

  1. Afiq azizi

    Dec 5, 2016 at 5:29 pm

    Sell this pen!

  2. Tim Denning

    Jun 8, 2016 at 12:14 am

    Such a good article! The Wolf Of Wall Street is one of my favorite movies of all time.

  3. Julian

    Nov 20, 2015 at 6:29 pm

    What’s up everybody? I like it that everyone here is sharing all kinds
    of knowledge. It’s nice to read these articles. I do a quick visit to this website every day.

  4. jerome

    Aug 17, 2014 at 12:39 pm

    I think you miss the point of the movie. The reality is that in his most desperate moment Jordan was able to see an opportunity where none existed and built an empire based on him. It shows that one is able to do anything if you have a plan and you execute on it

  5. David

    Jun 13, 2014 at 3:13 pm

    What I learned..? To “wh**k off twice a day ! At least !”

    Just kidding. What I learned is to drive people emotionally.

  6. Sean J Kennedy

    Apr 14, 2014 at 3:59 pm

    With joy in our hearts we are perfect…anything else is a ruse at best and tyranny at worst.

  7. Emily Filloramo

    Mar 24, 2014 at 3:54 pm

    Rob and Tony,

    I have a blog post that is almost ready to send to Joel on

    “10 Reasons Why You Are Not Happier Despite Your Successes”.

    There are points in this post that few people have ever talked about. You might be enlightened.

  8. Tony Wood

    Mar 24, 2014 at 2:36 pm

    Rob – Do you really believe that life is all about how much you make, with no regard to the damage or financial loss you cause to others along the way?
    Well, if that’s your philosophy then you go for it.
    But make sure you’re prepared to pay top dollar for the team of lawyers you’ll need to pay to feed off you.
    You ask how much I make – well, I’ve run an accounting practice for the last 25 years, recently sold it to a long-term employee who paid me less than I could have got on the open market, and I’m now retired very comfortably, secure in the knowledge that none of my clients, many of whom I’ve had for most of that 27 years, will ever sue me, as I’ve always dealt with them honestly, ethically and professionally.
    Just part of my get rich slow scheme.

  9. Rob

    Mar 18, 2014 at 2:38 pm

    Brilliant, fast money and even faster women what more can you ask for. Let me ask you how much do you make?

  10. Tony Wood

    Mar 16, 2014 at 3:04 pm

    Success – Cash, houses, cars, boats
    Bullshit.
    Success is the progressive realisation af a set of worthwhile goals which are meaningful to the individual.
    Almost all of these 14 pointers are manipulative, superficial or just bad.
    “Gather information on your enemies” – if you act ethically you don’t get enemies.
    Finally, why would I take advice from a convicted fraudster who’s a drug addict with two failed marriages, and goodness only knows the damage he’s caused his children.

    • John

      Apr 5, 2014 at 9:23 pm

      He is richer and smarter than you…

    • a_bateman

      Feb 8, 2015 at 4:00 pm

      I once heard, don’t remember where from, that if you don’t have enemies you aren’t making enough waves.

  11. J Harris

    Mar 11, 2014 at 5:26 pm

    It’s easy to be ‘financially successful’ when you lie to people to get what you want.

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Success Advice

Are You Really a Leader? 3 Questions That Will Help You Find the Answer

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Being a leader is a lot of responsibility. People look to you to make decisions, direct them, provide support, and get results. A true leader is an amazing presence: a humble yet confident person who inspires those around them.

Unfortunately, a lot of people think they’re leaders, but really aren’t. In fact, according to talent scientist Tomas Chamorro-Premuzic, 80% of people believe they are better-than-average leaders, which is objectively impossible. I see people claiming to be leaders all the time, but they’re all talk and no substance.

What is Leadership?

A lot of the people I talk to seem to think that you become a leader just by having a job managing people. That’s simply not true. Leadership is a balancing act that would make a master juggler impressed.

True leadership involves making sure that there is a happy balance between employees’ needs and the company’s needs. If only the employees’ needs are prioritized, the company won’t be profitable. Likewise, if only the company’s needs are considered, employees will leave.

True leaders have the self-awareness and strategic skills to understand this delicate balance and understand their role in creating those key compromises.

“The key to successful leadership today is influence, not authority.” – Ken Blanchard

Can You Be a True Leader?

Although there are a number of different leadership styles and theories out there, leadership boils down to a few essentials. Leaders need the emotional intelligence to navigate difficult and uncomfortable situations while being able to inspire others to take action. There’s a big difference between saying you’re a leader and acting like one.

If you want to increase your self-awareness and find out if you’re a leader others can rely on, start by asking yourself these three questions:

1. Do you want to be a leader?

It may seem unfair, but in my experience, the people who make the best leaders don’t necessarily want to be. You only want what you don’t have, and same rings true here. If you want to be a leader then you probably aren’t focusing on the right aspects of leadership.

True leaders are natural trail-blazers, but they don’t set out to lead anyone. People just happen to take note of their talents and confidence and look to the person for advice and guidance.

2. Do you have an original vision, or are you just power-hungry?

Why do you want to be a leader? Is it so you have the final say, or do you have actual goals you want to accomplish with a team? True leaders don’t feel threatened by others—they’re too busy getting stuff done. Leaders typically don’t need to test or confirm their power.

If you think good leaders give directions and just want others to listen, you’ve got it wrong. The best leaders often don’t need to speak a whole lot—they listen and observe, they think deeply, and when they do speak, it’s meaningful.

A true leader acts and others follow those actions because they trust and respect the leader. It isn’t about a power battle or an ego trip. Leaders have a true vision.  

3. Are you willing to do the dirty work?

You don’t get to be a leader if all you do is sit around, give orders, and let other people do the dirty work. Real leaders are humble, and no work is “beneath” them.

They want to know what’s going on at the ground level, and they want to help their people when they’re struggling. If you’re not willing to talk to a customer or back your employee up in a bad situation, you don’t get to call yourself a leader.

“Leadership is a choice, not a position.” – Stephen Covey

Becoming a Self-Aware Leader

How did you do? Maybe you’re not cut out to be a leader. Maybe you are. Maybe you need to work on a few things first.

Real talk: being a good leader isn’t easy. However, becoming a true leader benefits everyone around you and can be extremely fulfilling. If you’re more determined than ever to become the best, most self-aware leader you can be, that’s great news: we need more leaders out there.

What are the characteristics of a great leader in your opinion? Share with us below!

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Success Advice

Capitalize on the 80% of Business That You Are Missing Out on Right Now With This Method

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Most of us are aware of Pareto’s Principle, the 80/20 rule. This principle states that 20% of the input gives us 80% of the output. The top 20% of your salespeople account for 80% of your business. The top 20% skills you have, account for 80% of your success. The top 20% of our customers will give us 80% of business. When we use this principle it allows us to narrow in and focus on the most important clients who are in our target market.

You’ll find that most people tell you to focus on your top 20%. Here’s the big question: What do you do with the other 80% of people who you do not work with?

Most of us let this 80% of potential business fall to the wayside because they are not our target market and we have no system set up to still do some form of business with them. However, this is not the case for Tim Johnson.

Just last year, he generated $11 million dollars from REFERRALS! He is the master of building a referral based business. By sending clients that he cannot work with to his friends and referral partners, he is able to receive commission for the introduction and new business.

Imagine having the potential to make money from EVERY business conversation! Tim speaks to about 3,000 people per year, and if he cannot help them personally, he knows someone in his Global Renegade network who can.

The thing is, we can all do this if we are intentional about it. As Tim puts it, “We need to date our referral partners. We put so much time and effort into people that do nothing for our business, yet we do not build strong relationships and invest time into our referral partners.”

Tim is a speaker, author, real estate developer, and business coach who is well known around the world. He starts each business conversation by saying, “Is it okay with you that if at anytime during this conversation I realize that I am not the right fit for you, I introduce you to someone in my network who is?”

Each time he is met with a resounding YES! Who would say no to this offer? This strong referral network has built Tim a net worth of over $4 million dollars. Tim uses a framework called SOLD and if you use this framework you can build a strong referral network as well.

Below, is the exact SOLD framework Tim uses:

Strategy

According to Tim, everything is mathematical. He approaches each conversation looking to learn and serve. When you approach conversations in this way, you focus on relationship building instead of feeling like you have an agenda to do business.

Ask great questions here and give the person you’re speaking with an opportunity to share their situation and what they are going through. Tim always asks, “What do you need and how can I serve you?” This is a powerful question that most people neglect and it’s the reason they are not experiencing as much sales success as Tim.

“Here is a powerful yet simple rule. Always give people more than they expect to get.” – Nelson Boswell

Objections = Opportunities

As the old wise quote states, “We were given two ears and one mouth for a reason.” This means we need to speak less and listen more.

Too often, people pitch and become salesy instead of being human and having a conversation where they are listening to the person they are sitting with. When you are listening, you give yourself the opportunity to learn their problems, obstacles, and needs in order to identify new opportunities.

Leverage referral partners

As you are gathering information you will identify if you are able to provide the solution that your prospect needs. If you cannot, it is time to leverage your referral partners and make the introduction.

By starting out the conversation saying, “Is it okay with you that if at anytime during our conversation I realize that I am not the right fit that I introduce you to someone who is?” you have already pre-framed yourself appropriately to leverage your referral network if you cannot provide a solution that is needed.

Your prospect will be very appreciative for your honesty and will trust your judgement. You get a lot of brownie points when you have the integrity to say that you are not the right fit, but let me introduce you to someone who is.

“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.” – Mark Zuckerberg

Duplicate

Rinse and repeat this process. Having conversations in this way will enable you to work with the top 20% of people you speak with, and still provide value to the other 80%. In this way, every conversation opens up the opportunity for new business.

SOLD is business growth through asking great questions, active listening, and leveraging referral partners. Start to capitalize on the 80% of business that you are missing out on by referring these people to other service providers in your network.

If you think about providing value in service of others first, then you can leverage the SOLD framework for increased revenue in your business by simply being a connector and receiving commissions of 10%-25%.

Do you have referral partners in your business? Would love to hear your experience in the comment section below!

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A 5 Step Morning Routine That Leads to Explosive Growth and Success

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Have you ever noticed that how your day starts can dictate how the rest of your day goes? If you start your day on a positive and productive note, you feel a sense of excitement, pride, and accomplishment. And then those feelings power you through the rest of your day. You knock things off your to do list and find yourself in a great mood. Yet, when you wake up later than you were planning on, it can throw your entire day off. So make a decision to take control of your mornings and come up with a routine that will set you up for success.

When trying to construct a morning routine that fits your life, one thing to take into consideration is how important the night before is. Most people with winning morning routines, also take nighttime rituals into consideration. Before going to bed each night, plan your next day out in a journal, so you know exactly what you’re getting into. Nothing is worse than going into a day without a plan, and that’s a great way to lose control of the day.

Here’s a list of some of the most important things you can start each morning with to get off to a good start:

Step 1: Hydration: The elixir of life

One of the most important things you can do each morning is start your day off by drinking at least one glass of water. After 6-8 hours without any water, it’s essential to hydrate your body when you wake up and get it ready for the day. Your body is composed of mostly water and a lot of times, the importance of water is overlooked. Dehydration can lead to fatigue and headaches, so starting the day with water can help prevent dehydration. Because of that, staying hydrated means more energy and a lot of times, clearer thinking. There are a lot of health benefits to staying hydrated.

“Your day is pretty much formed by how you spend your first hour. Check your thoughts, attitude and heart.”

Step 2: Priming: The key to self transformation

Anthony (Tony) Robbins, one of the biggest motivational speakers, always talks about the importance of starting your day with priming. His priming exercise combines two important elements; gratitude and visualization. The priming exercise is about 15 minutes and the purpose is to get you into a good mental and physical state before you start your day. First, Tony asks you to think about 3 things that you are grateful for, and to step into those memories like you are there.

Next, he asks you to think of three things that you want to accomplish (short or long term). The purpose of these exercises is simple; start your day with gratitude and visualizing yourself accomplishing what you want to accomplish, whether it’s a short term goal or a long term goal.

If you don’t want to do that exact exercise, you can also do a combination of meditation and visualization. There are a lot of guided audios that you can use to help you get the most out of meditation and visualization.

Step 3: Exercise/Movement – Jumpstart your brain and your body

Exercise has massive benefits, both physical and mental. Starting your day with even 30 minutes of movement can give you increased energy and endorphins. It’s also a great way to start your day on a positive note. Think of how amazing you feel after you finish a good workout.

Step 4: Journaling – Create your future and write your goals into existence

Everyone has their own way of journaling; you need to find what works best for you. Some things you can do while journaling are making a list of 3-5 things you are grateful for, writing your goals down (daily or long term goals), or setting your intention for the day. Journaling can make you more productive as well as remind you what your goals/ targets are so that you stay focused on what you need to get done.

“Your morning routine generates a 10x return for good or for bad. Make it good.” – Todd Stocker

Step 5: Attack the day- conquer your biggest task that you have to do first thing

A lot of people tend to procrastinate on their most important task of the day. They’ll find any excuse to push it off. “Later” becomes “tomorrow.” And then somehow, the end of the week rolls around and the task still isn’t complete. However, if you prioritize your most important task and get it accomplished first thing in the morning, it gives you a sense of discipline and accomplishment.

Starting your morning with a routine can help transform your day. It can help you build new habits but even if you start with 2 or 3 of these, you will begin to see a big difference in how your days go. If you already have a morning routine but you are missing some of these steps, test them out and see what kind of an impact they have on your days.

What is your morning routine like? Comment below!

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Success Advice

Here’s Why Goals Are for Losers

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If you enter the word “goals” into your browser, more than 1.6 BILLION search results pop up. Safe to say, there’s no shortage of goal setting advice as a stepping-stone on your path to success. Yet, there’s a contrarian willing to risk criticism, challenge the status quo, and debunk goals at face value.

In his book “How To Fail At Almost Everything And Still Win Big,” Scott Adams is an author, cartoonist and Periscope streamer, who sees goals differently than most everyone else. Adams observes that if you study people who succeed, you’ll see most of them follow systems, not goals.

Goals vs. Systems

Adams defines goals as “reach it and be done objectives.” Whereas systems, is what you do on a regular basis with an expectation that you’ll build on and improve your chances of success.

In Adams book, he says he didn’t have a goal to write it by a specific date. He had a “process” that included blogging daily (for practice) believing this consistency would lead him down a path to where he wanted to be.

Other examples:

  • dieting to lose 10 lbs. is a goal. Learning to eat right, and doing so on a regular basis, is a system.
  • making a million dollars is a goal. Being a serial entrepreneur, is system.
  • running a marathon in under 3 hours is a goal. Exercising daily, is a system (forming a habit).

Could goals create tunnel vision? The problem with goals, says Adams, is that they’re laser-focused and could block awareness of other opportunities around you. If you have your head down pursuing a goal, you may miss better opportunities that could potentially advance you, perhaps even faster.

In contrast, says Adams, systems are flexible, leaving you wide open for new and better ways of doing things. “A system, performed daily, is moving you from a place with low odds to a place with better odds.”

Adams concedes, goals aren’t completely off the table. Goals are useful in “simple” situations that are “narrow, simplistic and have predictable pursuits.” They’re ok for short tasks with a clear purpose.

Two examples of different goals would be an “ok goal,” which would be entering a contest, while a “great goal” is to win. “It’s simple, it’s near term, it’s manageable.” Nonetheless, for success, goals are terrible for long-term endeavors like personal health and career success goals.

So are goals for losers? Adams says goals are psychological. If you haven’t reached your goal, you could be in a perpetual state of frustration and disappointment, possibly feeling like a failure.

Goals proceed with blinders on, expecting certain results at the end of weeks, months or years. Then once you’ve achieved that goal, what are you prepared for? Whereas systems are skill-based that add up, and can serve you on future projects.

“Never settle for average.” – Steve Jobs

Talent Stacking for Success

Talent stacking is the process of increasing your personal value by “layering together several mediocre skills” until you have something unique.

Although Adams says most of his undertakings can be considered failures from the standpoint of goals, they’re actually successes from the standpoint of systems. Gaining transferable skills has allowed him to achieve success in the long run.

In a Wall Street Journal interview, Adams shares how he stacked his talents of “mediocre artist, an ok writer, somewhat humorous, and some business knowledge” to create the wildly successful comic strip Dilbert (seen online in 2,000 newspapers, 65 countries in 25 languages) and substantial economic value.

Previously we outlined the four principles of success. Here, we add talent stacking, allowing you to capitalize on the array of opportunities that come your way. Adams recommends choosing to acquire ‘talents’ that build assets you can apply to future projects.

The assets you build will lead you down the path of eventual success over time. In today’s fast-paced world, Adams feels we’d all benefit from adding t­he following skills to your main talent:

  • public speaking
  • persuasion (to understand psychology)
  • some business sense
  • some technology sense

Adams recommends to not worry about the end result. Focus on daily execution and over time, there will be a payday.

Passion will follow

Ask a billionaire what’s the most important element to success and he’ll likely say “passion.” Adams disagrees. He says someone’s passion may not be realistic. In addition, he feels you can develop passion with success.

Adams’ observation is that people who have a good business plan probably do well. As things start working, and you start making money, suddenly passion appears!

The crossroads of luck

Adams believes the flexibility of systems increases your odds of luck finding you. By adding to your talent stack, more opportunities cross your path, with success following close behind.

There are many kids today with better programming skills than Bill Gates had. Yet, Gates was born in a time in history where he had access to computers when other people didn’t, and that luck has made him billions and billions of dollars. Adams says go where the luck is, tune yourself into the vibration of luck and increase the chances you’ll get it.

“Success is luck multiplied by the skills you obtain” – Scott Adams

So there you have it, systems are better if you have a complicated situation and a long time frame. Goals are fine if you have a simple situation and a short time frame.

The thread that ties this highly recommended book together is that if you develop good systems and follow them daily, then your efforts eventually overlap with luck.

What do you think about goals now? Looking forward to hearing from you in the comments area below.

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3 Simple Self-Communication Tips to Ensure You Set Yourself Up to Achieve Your Goals

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Do you ever wonder why some people seem to hit every goal they set, while others struggle to even take the first step towards their goals? The difference may be in the finer details of how the goal is being set. (more…)

Tiffany Toombs is a mindset coach, trainer, and presenter that specializes in helping people rewire their brains to overcome self-sabotage and limiting beliefs that stop them from finding success. Tiffany runs courses and workshops all over the world to empower people to take control of their lives and their minds so they can achieve their true potential in life. She believes that everyone has a message to share and helps her clients reconnect with themselves to find their passion and purpose. Tiffany has a range of valuable resources for people to understand their minds and how to access the power of their unconscious minds on YouTube or in her eBook “Unlocking The Secrets To The Unconscious Mind”.

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75 Comments

75 Comments

  1. Afiq azizi

    Dec 5, 2016 at 5:29 pm

    Sell this pen!

  2. Tim Denning

    Jun 8, 2016 at 12:14 am

    Such a good article! The Wolf Of Wall Street is one of my favorite movies of all time.

  3. Julian

    Nov 20, 2015 at 6:29 pm

    What’s up everybody? I like it that everyone here is sharing all kinds
    of knowledge. It’s nice to read these articles. I do a quick visit to this website every day.

  4. jerome

    Aug 17, 2014 at 12:39 pm

    I think you miss the point of the movie. The reality is that in his most desperate moment Jordan was able to see an opportunity where none existed and built an empire based on him. It shows that one is able to do anything if you have a plan and you execute on it

  5. David

    Jun 13, 2014 at 3:13 pm

    What I learned..? To “wh**k off twice a day ! At least !”

    Just kidding. What I learned is to drive people emotionally.

  6. Sean J Kennedy

    Apr 14, 2014 at 3:59 pm

    With joy in our hearts we are perfect…anything else is a ruse at best and tyranny at worst.

  7. Emily Filloramo

    Mar 24, 2014 at 3:54 pm

    Rob and Tony,

    I have a blog post that is almost ready to send to Joel on

    “10 Reasons Why You Are Not Happier Despite Your Successes”.

    There are points in this post that few people have ever talked about. You might be enlightened.

  8. Tony Wood

    Mar 24, 2014 at 2:36 pm

    Rob – Do you really believe that life is all about how much you make, with no regard to the damage or financial loss you cause to others along the way?
    Well, if that’s your philosophy then you go for it.
    But make sure you’re prepared to pay top dollar for the team of lawyers you’ll need to pay to feed off you.
    You ask how much I make – well, I’ve run an accounting practice for the last 25 years, recently sold it to a long-term employee who paid me less than I could have got on the open market, and I’m now retired very comfortably, secure in the knowledge that none of my clients, many of whom I’ve had for most of that 27 years, will ever sue me, as I’ve always dealt with them honestly, ethically and professionally.
    Just part of my get rich slow scheme.

  9. Rob

    Mar 18, 2014 at 2:38 pm

    Brilliant, fast money and even faster women what more can you ask for. Let me ask you how much do you make?

  10. Tony Wood

    Mar 16, 2014 at 3:04 pm

    Success – Cash, houses, cars, boats
    Bullshit.
    Success is the progressive realisation af a set of worthwhile goals which are meaningful to the individual.
    Almost all of these 14 pointers are manipulative, superficial or just bad.
    “Gather information on your enemies” – if you act ethically you don’t get enemies.
    Finally, why would I take advice from a convicted fraudster who’s a drug addict with two failed marriages, and goodness only knows the damage he’s caused his children.

    • John

      Apr 5, 2014 at 9:23 pm

      He is richer and smarter than you…

    • a_bateman

      Feb 8, 2015 at 4:00 pm

      I once heard, don’t remember where from, that if you don’t have enemies you aren’t making enough waves.

  11. J Harris

    Mar 11, 2014 at 5:26 pm

    It’s easy to be ‘financially successful’ when you lie to people to get what you want.

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Success Advice

Are You Really a Leader? 3 Questions That Will Help You Find the Answer

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Being a leader is a lot of responsibility. People look to you to make decisions, direct them, provide support, and get results. A true leader is an amazing presence: a humble yet confident person who inspires those around them.

Unfortunately, a lot of people think they’re leaders, but really aren’t. In fact, according to talent scientist Tomas Chamorro-Premuzic, 80% of people believe they are better-than-average leaders, which is objectively impossible. I see people claiming to be leaders all the time, but they’re all talk and no substance.

What is Leadership?

A lot of the people I talk to seem to think that you become a leader just by having a job managing people. That’s simply not true. Leadership is a balancing act that would make a master juggler impressed.

True leadership involves making sure that there is a happy balance between employees’ needs and the company’s needs. If only the employees’ needs are prioritized, the company won’t be profitable. Likewise, if only the company’s needs are considered, employees will leave.

True leaders have the self-awareness and strategic skills to understand this delicate balance and understand their role in creating those key compromises.

“The key to successful leadership today is influence, not authority.” – Ken Blanchard

Can You Be a True Leader?

Although there are a number of different leadership styles and theories out there, leadership boils down to a few essentials. Leaders need the emotional intelligence to navigate difficult and uncomfortable situations while being able to inspire others to take action. There’s a big difference between saying you’re a leader and acting like one.

If you want to increase your self-awareness and find out if you’re a leader others can rely on, start by asking yourself these three questions:

1. Do you want to be a leader?

It may seem unfair, but in my experience, the people who make the best leaders don’t necessarily want to be. You only want what you don’t have, and same rings true here. If you want to be a leader then you probably aren’t focusing on the right aspects of leadership.

True leaders are natural trail-blazers, but they don’t set out to lead anyone. People just happen to take note of their talents and confidence and look to the person for advice and guidance.

2. Do you have an original vision, or are you just power-hungry?

Why do you want to be a leader? Is it so you have the final say, or do you have actual goals you want to accomplish with a team? True leaders don’t feel threatened by others—they’re too busy getting stuff done. Leaders typically don’t need to test or confirm their power.

If you think good leaders give directions and just want others to listen, you’ve got it wrong. The best leaders often don’t need to speak a whole lot—they listen and observe, they think deeply, and when they do speak, it’s meaningful.

A true leader acts and others follow those actions because they trust and respect the leader. It isn’t about a power battle or an ego trip. Leaders have a true vision.  

3. Are you willing to do the dirty work?

You don’t get to be a leader if all you do is sit around, give orders, and let other people do the dirty work. Real leaders are humble, and no work is “beneath” them.

They want to know what’s going on at the ground level, and they want to help their people when they’re struggling. If you’re not willing to talk to a customer or back your employee up in a bad situation, you don’t get to call yourself a leader.

“Leadership is a choice, not a position.” – Stephen Covey

Becoming a Self-Aware Leader

How did you do? Maybe you’re not cut out to be a leader. Maybe you are. Maybe you need to work on a few things first.

Real talk: being a good leader isn’t easy. However, becoming a true leader benefits everyone around you and can be extremely fulfilling. If you’re more determined than ever to become the best, most self-aware leader you can be, that’s great news: we need more leaders out there.

What are the characteristics of a great leader in your opinion? Share with us below!

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Success Advice

Capitalize on the 80% of Business That You Are Missing Out on Right Now With This Method

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Most of us are aware of Pareto’s Principle, the 80/20 rule. This principle states that 20% of the input gives us 80% of the output. The top 20% of your salespeople account for 80% of your business. The top 20% skills you have, account for 80% of your success. The top 20% of our customers will give us 80% of business. When we use this principle it allows us to narrow in and focus on the most important clients who are in our target market.

You’ll find that most people tell you to focus on your top 20%. Here’s the big question: What do you do with the other 80% of people who you do not work with?

Most of us let this 80% of potential business fall to the wayside because they are not our target market and we have no system set up to still do some form of business with them. However, this is not the case for Tim Johnson.

Just last year, he generated $11 million dollars from REFERRALS! He is the master of building a referral based business. By sending clients that he cannot work with to his friends and referral partners, he is able to receive commission for the introduction and new business.

Imagine having the potential to make money from EVERY business conversation! Tim speaks to about 3,000 people per year, and if he cannot help them personally, he knows someone in his Global Renegade network who can.

The thing is, we can all do this if we are intentional about it. As Tim puts it, “We need to date our referral partners. We put so much time and effort into people that do nothing for our business, yet we do not build strong relationships and invest time into our referral partners.”

Tim is a speaker, author, real estate developer, and business coach who is well known around the world. He starts each business conversation by saying, “Is it okay with you that if at anytime during this conversation I realize that I am not the right fit for you, I introduce you to someone in my network who is?”

Each time he is met with a resounding YES! Who would say no to this offer? This strong referral network has built Tim a net worth of over $4 million dollars. Tim uses a framework called SOLD and if you use this framework you can build a strong referral network as well.

Below, is the exact SOLD framework Tim uses:

Strategy

According to Tim, everything is mathematical. He approaches each conversation looking to learn and serve. When you approach conversations in this way, you focus on relationship building instead of feeling like you have an agenda to do business.

Ask great questions here and give the person you’re speaking with an opportunity to share their situation and what they are going through. Tim always asks, “What do you need and how can I serve you?” This is a powerful question that most people neglect and it’s the reason they are not experiencing as much sales success as Tim.

“Here is a powerful yet simple rule. Always give people more than they expect to get.” – Nelson Boswell

Objections = Opportunities

As the old wise quote states, “We were given two ears and one mouth for a reason.” This means we need to speak less and listen more.

Too often, people pitch and become salesy instead of being human and having a conversation where they are listening to the person they are sitting with. When you are listening, you give yourself the opportunity to learn their problems, obstacles, and needs in order to identify new opportunities.

Leverage referral partners

As you are gathering information you will identify if you are able to provide the solution that your prospect needs. If you cannot, it is time to leverage your referral partners and make the introduction.

By starting out the conversation saying, “Is it okay with you that if at anytime during our conversation I realize that I am not the right fit that I introduce you to someone who is?” you have already pre-framed yourself appropriately to leverage your referral network if you cannot provide a solution that is needed.

Your prospect will be very appreciative for your honesty and will trust your judgement. You get a lot of brownie points when you have the integrity to say that you are not the right fit, but let me introduce you to someone who is.

“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.” – Mark Zuckerberg

Duplicate

Rinse and repeat this process. Having conversations in this way will enable you to work with the top 20% of people you speak with, and still provide value to the other 80%. In this way, every conversation opens up the opportunity for new business.

SOLD is business growth through asking great questions, active listening, and leveraging referral partners. Start to capitalize on the 80% of business that you are missing out on by referring these people to other service providers in your network.

If you think about providing value in service of others first, then you can leverage the SOLD framework for increased revenue in your business by simply being a connector and receiving commissions of 10%-25%.

Do you have referral partners in your business? Would love to hear your experience in the comment section below!

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Success Advice

A 5 Step Morning Routine That Leads to Explosive Growth and Success

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Have you ever noticed that how your day starts can dictate how the rest of your day goes? If you start your day on a positive and productive note, you feel a sense of excitement, pride, and accomplishment. And then those feelings power you through the rest of your day. You knock things off your to do list and find yourself in a great mood. Yet, when you wake up later than you were planning on, it can throw your entire day off. So make a decision to take control of your mornings and come up with a routine that will set you up for success.

When trying to construct a morning routine that fits your life, one thing to take into consideration is how important the night before is. Most people with winning morning routines, also take nighttime rituals into consideration. Before going to bed each night, plan your next day out in a journal, so you know exactly what you’re getting into. Nothing is worse than going into a day without a plan, and that’s a great way to lose control of the day.

Here’s a list of some of the most important things you can start each morning with to get off to a good start:

Step 1: Hydration: The elixir of life

One of the most important things you can do each morning is start your day off by drinking at least one glass of water. After 6-8 hours without any water, it’s essential to hydrate your body when you wake up and get it ready for the day. Your body is composed of mostly water and a lot of times, the importance of water is overlooked. Dehydration can lead to fatigue and headaches, so starting the day with water can help prevent dehydration. Because of that, staying hydrated means more energy and a lot of times, clearer thinking. There are a lot of health benefits to staying hydrated.

“Your day is pretty much formed by how you spend your first hour. Check your thoughts, attitude and heart.”

Step 2: Priming: The key to self transformation

Anthony (Tony) Robbins, one of the biggest motivational speakers, always talks about the importance of starting your day with priming. His priming exercise combines two important elements; gratitude and visualization. The priming exercise is about 15 minutes and the purpose is to get you into a good mental and physical state before you start your day. First, Tony asks you to think about 3 things that you are grateful for, and to step into those memories like you are there.

Next, he asks you to think of three things that you want to accomplish (short or long term). The purpose of these exercises is simple; start your day with gratitude and visualizing yourself accomplishing what you want to accomplish, whether it’s a short term goal or a long term goal.

If you don’t want to do that exact exercise, you can also do a combination of meditation and visualization. There are a lot of guided audios that you can use to help you get the most out of meditation and visualization.

Step 3: Exercise/Movement – Jumpstart your brain and your body

Exercise has massive benefits, both physical and mental. Starting your day with even 30 minutes of movement can give you increased energy and endorphins. It’s also a great way to start your day on a positive note. Think of how amazing you feel after you finish a good workout.

Step 4: Journaling – Create your future and write your goals into existence

Everyone has their own way of journaling; you need to find what works best for you. Some things you can do while journaling are making a list of 3-5 things you are grateful for, writing your goals down (daily or long term goals), or setting your intention for the day. Journaling can make you more productive as well as remind you what your goals/ targets are so that you stay focused on what you need to get done.

“Your morning routine generates a 10x return for good or for bad. Make it good.” – Todd Stocker

Step 5: Attack the day- conquer your biggest task that you have to do first thing

A lot of people tend to procrastinate on their most important task of the day. They’ll find any excuse to push it off. “Later” becomes “tomorrow.” And then somehow, the end of the week rolls around and the task still isn’t complete. However, if you prioritize your most important task and get it accomplished first thing in the morning, it gives you a sense of discipline and accomplishment.

Starting your morning with a routine can help transform your day. It can help you build new habits but even if you start with 2 or 3 of these, you will begin to see a big difference in how your days go. If you already have a morning routine but you are missing some of these steps, test them out and see what kind of an impact they have on your days.

What is your morning routine like? Comment below!

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Success Advice

Here’s Why Goals Are for Losers

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If you enter the word “goals” into your browser, more than 1.6 BILLION search results pop up. Safe to say, there’s no shortage of goal setting advice as a stepping-stone on your path to success. Yet, there’s a contrarian willing to risk criticism, challenge the status quo, and debunk goals at face value.

In his book “How To Fail At Almost Everything And Still Win Big,” Scott Adams is an author, cartoonist and Periscope streamer, who sees goals differently than most everyone else. Adams observes that if you study people who succeed, you’ll see most of them follow systems, not goals.

Goals vs. Systems

Adams defines goals as “reach it and be done objectives.” Whereas systems, is what you do on a regular basis with an expectation that you’ll build on and improve your chances of success.

In Adams book, he says he didn’t have a goal to write it by a specific date. He had a “process” that included blogging daily (for practice) believing this consistency would lead him down a path to where he wanted to be.

Other examples:

  • dieting to lose 10 lbs. is a goal. Learning to eat right, and doing so on a regular basis, is a system.
  • making a million dollars is a goal. Being a serial entrepreneur, is system.
  • running a marathon in under 3 hours is a goal. Exercising daily, is a system (forming a habit).

Could goals create tunnel vision? The problem with goals, says Adams, is that they’re laser-focused and could block awareness of other opportunities around you. If you have your head down pursuing a goal, you may miss better opportunities that could potentially advance you, perhaps even faster.

In contrast, says Adams, systems are flexible, leaving you wide open for new and better ways of doing things. “A system, performed daily, is moving you from a place with low odds to a place with better odds.”

Adams concedes, goals aren’t completely off the table. Goals are useful in “simple” situations that are “narrow, simplistic and have predictable pursuits.” They’re ok for short tasks with a clear purpose.

Two examples of different goals would be an “ok goal,” which would be entering a contest, while a “great goal” is to win. “It’s simple, it’s near term, it’s manageable.” Nonetheless, for success, goals are terrible for long-term endeavors like personal health and career success goals.

So are goals for losers? Adams says goals are psychological. If you haven’t reached your goal, you could be in a perpetual state of frustration and disappointment, possibly feeling like a failure.

Goals proceed with blinders on, expecting certain results at the end of weeks, months or years. Then once you’ve achieved that goal, what are you prepared for? Whereas systems are skill-based that add up, and can serve you on future projects.

“Never settle for average.” – Steve Jobs

Talent Stacking for Success

Talent stacking is the process of increasing your personal value by “layering together several mediocre skills” until you have something unique.

Although Adams says most of his undertakings can be considered failures from the standpoint of goals, they’re actually successes from the standpoint of systems. Gaining transferable skills has allowed him to achieve success in the long run.

In a Wall Street Journal interview, Adams shares how he stacked his talents of “mediocre artist, an ok writer, somewhat humorous, and some business knowledge” to create the wildly successful comic strip Dilbert (seen online in 2,000 newspapers, 65 countries in 25 languages) and substantial economic value.

Previously we outlined the four principles of success. Here, we add talent stacking, allowing you to capitalize on the array of opportunities that come your way. Adams recommends choosing to acquire ‘talents’ that build assets you can apply to future projects.

The assets you build will lead you down the path of eventual success over time. In today’s fast-paced world, Adams feels we’d all benefit from adding t­he following skills to your main talent:

  • public speaking
  • persuasion (to understand psychology)
  • some business sense
  • some technology sense

Adams recommends to not worry about the end result. Focus on daily execution and over time, there will be a payday.

Passion will follow

Ask a billionaire what’s the most important element to success and he’ll likely say “passion.” Adams disagrees. He says someone’s passion may not be realistic. In addition, he feels you can develop passion with success.

Adams’ observation is that people who have a good business plan probably do well. As things start working, and you start making money, suddenly passion appears!

The crossroads of luck

Adams believes the flexibility of systems increases your odds of luck finding you. By adding to your talent stack, more opportunities cross your path, with success following close behind.

There are many kids today with better programming skills than Bill Gates had. Yet, Gates was born in a time in history where he had access to computers when other people didn’t, and that luck has made him billions and billions of dollars. Adams says go where the luck is, tune yourself into the vibration of luck and increase the chances you’ll get it.

“Success is luck multiplied by the skills you obtain” – Scott Adams

So there you have it, systems are better if you have a complicated situation and a long time frame. Goals are fine if you have a simple situation and a short time frame.

The thread that ties this highly recommended book together is that if you develop good systems and follow them daily, then your efforts eventually overlap with luck.

What do you think about goals now? Looking forward to hearing from you in the comments area below.

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