Sell me this pen – Sales Learning from The Wolf of Wall Street

“Sell me this pen”

This is one of the greatest quote from the movie “The Wolf of Wall Street” which the protagonist Jordan Belfort (starred by Leonardo DiCaprio). This is a movie that I like very much and it made me understand the important key in sales. Anyone who wants to succeed from doing business and selling should never miss this movie. So, I want to share with you the techniques from this movie.

Before watching this video clip, I want you to challenge me by trying to sell your pen to me.

Please watch this video clip.

According from the video clip, you can see that both scenes are totally different. The first scene is a scene where Jordan challenged his attendees to sell a pen in their hands to him. It can be noticed that only Brad (A guy with beard) looks the most promising. Now let’s look at the important key of this scene.

#1st Scene

Brad asked Jordan…
“Please sign your name on this tissue.”
Jordan replied…
“I don’t have a pen.”
Brad said…
“Yes, this is Supply and Demand my friend.”

Jordan told everyone that Brad is creating “Urgency” to make customers buy a product, buy something that becomes necessary for them. This is the important key in sales. Now, I would like to simply summarize it into 3 main tips.

1.1 Ask to find the hidden needs of customers​

It is like selling a pen. If you only keep describing its good features that customers may not need it. There will be almost no sales opportunity. You should ask the customers back in order to find the customer’s requirements. For example, usually when you have to sign commercial documents with a partner, what kind of pen do you use and why? (This is a question that matches with your business pen.) After finished asking, now you can offer to sell a pen that customers tell you what the requirements are.

1.2 Creating Urgency

This is important. It will make you customers feel that…

“If they do not buy, they will miss the opportunity.”
“You have to buy now, the sooner the better.”
“This pen is only one left and is a hard-to-find pen.”

This kind of sentences is used to stimulate the desire of the customers. For example, if your product can help payback to customers faster, you need to accelerate the customers to buy it. The slower the customers buy, the slower for the return on investment.

1.3 Challenge to the customers

This is a challenge to the customers. For example, sometimes our products are not wanted by customers at that moment but we have to create urgency. Maybe you need to bet with the customers.

“This one is the last piece.”
“There will be no more.”
“The product will be produced again next month.”
In order to make the customers feel that they have to buy now, you can take a look at the department stores. They always use this kind of tactics such as Super Sale, Premium, Bonus and etc. This tactic always worked well with me.

#2nd Scene

This is the scene where Jordan is already a world-class speaker. This is crystal clear that many people who do not understand the importance of finding the needs and creating urgency will usually focus on their products, but they never asked about the needs of customers. So that it becomes the selling of “product’s features” instead. You should examine yourself whether you are that kind of person or not. You can simply examine yourself by these following methods.

2.1 Selling by only focusing on the technical features of the product

If you are doing this, you should change it now because most of your competitors are also like this. If you focus on asking good questions in order to find the real customer’s needs, you will become a better salesman and match with the point. In addition, no one says that they are not good. If you keep talking only about features of the product, it will become exaggeration even though it is true.

2.2 If you do not create urgency is equal to you cannot close the deal

If the customers feel that the product is not necessary, does not meet with the requirements or no urgency. No matter how well you present, there is almost no sales opportunity. It is because you cannot make the customers feel that they want your product or they need to use your product urgently.

2.3 You only talk about yourself and your own products

If you only keep presenting your products and describing only the advantages or the quality of your products, frankly speaking, if you sell something like this, the company will not need you. They can create the advertisement instead which should be easier. There is only you who can create “The needs” of the customers. Only you can tell the customers why your products meet their requirements.

You can use the techniques and ideas from this movie which is based on the true story of Jordan Belfort, the former No.1 Salesman of the world. He is one of my idols.

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