Many people know about the figure of Jordan Belfort through Martin Scorsese's well-known film The Wolf of Wall Street. The truth is that this is a totally real character who became famous for his aggressive business techniques that led him to take control of the Oakmont company. Through dishonest techniques and with a high content of injustice and fraud, the company was dedicated to the sale of junk bonds that made Belfort a millionaire. His eccentricities, his relationships with the highest strata of society and his numerous addictions are some of the most transcendent elements of his high level life.It should be known that the time also came for his fall and the debt derived from his aggressive and fraudulent sales techniques was personally acknowledged by him after the sentence that condemned him for money laundering and fraud.Some important lessonsIn spite of everything, the truth is that this is a person with a high capacity to generate income who, if he had focused his strategies in a positive way, could still live at the high level that his talents allowed.
Thus, reviewing his life and his formulas of acting in the business environment, we can still learn many valuable lessons from the real Wall Street Wolf.1.Forgetting fears. There are many fears and insecurities that confront a person who is starting out in the field of entrepreneurship. It is normal and very useful because it helps to be attentive and focus on what is really important, however, we must not let fear paralyze us and stop us from doing what is necessary to move a business forward.In order to put an end to irrational fears, it is necessary to consider one's true capacity to give life to the company, to study in detail any possible shortcomings and to establish the best methods to solve them, as well as to have an alternative plan for the case in which it is not possible to go ahead.Losing all your investments is one of the fears, so it is useful to have an escape plan such as returning to your previous job or having a financial cushion to help pay off possible debts.The problems resulting from bureaucratic errors are another of the most frightening elements for an entrepreneur who is starting out. In the face of this lack of knowledge, it is advisable to turn to an expert tax advisor who can help keep all the paperwork up to date without any possible errors.
On the Internet it is possible to find online advice that suits the needs of each entrepreneur.2.The importance of a complete team. In this aspect it is crucial to think about the type of company you are planning to start. In some cases it is possible to do the job as the only self-employed entrepreneur, however, it is common that someone is needed to do tasks in which one person cannot specialize.Whether you are part of the team on a permanent basis or hired at specific times, having a multidisciplinary and fully prepared work group is the best way to ensure the success of a company.3.Don't stay in the present. If you think only of short-term profitability you can make mistakes similar to those made by Belfort.
Making money at one point and then watching the business go bankrupt doesn't make much sense. The important thing is to make a long-term project that will maintain and increase your income gradually with constant improvement, investment in innovation, staff training and a constant concern to implement the elements that will help you keep up to date and compete effectively with other companies in the sector.Taking care of the customer, maintaining quality, paying attention to the importance of marketing strategies and not avoiding investments in improvements are some of the essential keys for the company to continue operating in the long term. No less important is the constant training of the team for maximum specialization and the integration into the company of new technologies that help make the work more efficient.