4 business ideas from the movie Wolf of Wall Street
Social gatherings are an excellent way to build a healthy organizational culture. Employees who are excellent friends with you will go to great lengths for your company. Don't dismiss someone because of a history of problems. Belfort encouraged employees to live beyond their means in order to ensure that they were not only motivated to work, but also stayed at the company and continued to produce a large amount of money.
Anyone who has ever seen Titanic will agree that Hollywood star Leonardo DiCaprio is a blessing to the movie industry. His influence on millions of hearts has only grown stronger as a result of all the parts he has played over the years. We were certainly left wanting more after his outstanding performance in The Wolf of Wall Street.
Every entrepreneur should read the book or watch the movie that chronicles the life of the dishonest stockbroker Jordan Belfort. Following are a few business ideas from the movie Wolf of Wall Street.
When there is such a high degree of intensity, especially when money is involved, people can make horrible decisions. As a result, when it comes to organizational culture, a delicate balance must be achieved. One of the strangest aspects of this film is that it is based on a true story. He's also the author of The Way of the Wolf, a best-selling book about persuading, influence, and success in the business world. The following are some of the movie's takeaways:
The Wolf of Wall Street is a movie about deception, gluttony, corruption, and deceit. It chronicles the life of highly successful stockbroker Jordan Belfort, who founded his own brokerage company, Stratton Oakmont, and made his millions by using a "pump and dump" method. This entails buying the stock at a low price, increasing its price artificially by misleading advertising, and then selling it for more money, incurring a significant loss for the investor.
Belfort and his colleagues engaged in wild office parties, careless drug use, extreme avarice, hedonism, and fraud throughout the years of their greatest success. When the company was finally shut down as a result of an investigation by law authorities, Belfort was sentenced to 22 months in prison.
The Wolf of Wall Street has a lot to teach us about how to build a successful business and build a solid reputation.
Summary of Wolf of Wall Street
Jordan Belfort, one of Wall Street's most notorious brokers, is followed in the film The Wolf of Wall Street as he creates a fortune by cheating investors of millions of dollars. The Martin Scorsese-directed movie opens with Belfort working as a trainee stockbroker at a Wall Street brokerage business, where he is instructed in the firm's aggressive selling strategies. He loses his job due to a significant market fall and starts working for a small company that trades penny stocks. He starts his own business, Stratton Oakmont, where he sells penny and IPO stocks with speculative gains after realizing the larger fee on penny stocks. Jordan creates a commercial empire by portraying himself as a sophisticated businessman and teaching his staff how to make sales. He rapidly enjoys the good life and rises to prominence on Wall Street, but he soon learns the downside of prosperity as he crosses moral lines and plunges into a world of crime and corruption.
Business ideas from the movie Wolf of Wall Street
1. Being good friends with your employees means they will do anything for your company
People who work for Jordan Belfort in the film are willing to put their lives on the line for him. One of the reasons is that the office atmosphere they established was quite fraternal. There were many disadvantages, but one benefit was that others would go to tremendous lengths to assist him. The company had the atmosphere of a tight-knit community. Belfort developed close personal relationships with his staff outside of the job. This earned him greater respect and increased employee willingness to make sacrifices for the company.
2. Do not rule someone out because of past issues
Jordan Belfort gambled on a few employees who were in severe need of assistance. He made decisions based on his personality and work ethic, regardless of previous wrongdoing or lack of expertise. As a result, he hired a lot of the "wrong kinds" of people. These people did amazing work for him and were appreciative of the opportunity. It advises going beyond a CV or a few key indicators when making employment decisions.
3. Social gatherings are a great way to build company culture
In The Wolf of Wall Street, social gatherings were frequently unhealthy. The importance of misogynistic views and inhumane treatment of people was emphasized. That subject should not be revisited, but the concept of unique and pleasurable social gatherings should. Stratton Oakmont was a trailblazer when it comes to events. These activities served to strengthen the company's bonds while also providing a fun social outlet. Employees did not feel compelled to attend these events. Company get-togethers don't have to be as shady as Stratton Oakmont's to achieve the same aim. Instead, it necessitates further ingenuity and effort on the side of a corporation.
4. Be careful about what you are sacrificing for money or success
The necessity of sacrifice was another key takeaway from the film. After becoming linked with Wall Street, Jordan Belfort transformed into a completely different guy. His life might have appeared more "fun" to the inexperienced eye. However, he had to make a lot of sacrifices to get there. He was a jerk who mistreated others, divorced his first wife, and was addicted to drugs. In the end, he wounded the people he cared about and those who cared about him. It's all too easy to make poor decisions in the pursuit of immediate enjoyment. Those who are able to avoid these tendencies are the most successful businesses. The goal is to make conscious, healthy decisions on a regular basis.
Also Read: How To Make Money In Stocks?
5. Keep trying
When he was 25 years old and his sales company failed, Belfort filed for bankruptcy before founding Stratton Oakmont. He was later fired from his position with stockbroker L.F. Rothschild, but he never gave up on his goal of starting his own profitable business.
Every business experiences highs and lows, so it's critical to stay inspired and committed. Many well-known companies and brands have seen significant setbacks and heartbreaks, but this hasn't prevented them from following their goals and experiencing incredible highs.
Even though Jordan Belfort isn't a model businessman and lying won't get you far, there are still some lessons we can take away from this ambitious, focused, and passionate businessman. You will be well on your way to building a prosperous, flourishing business that is well-recognized and appreciated by your target market by identifying your niche and never giving up on your objectives
The Wolf of Wall Street serves as a wonderful reminder to not take life too seriously. Belfort and Stratton Oakmont made numerous questionable decisions. While they paid a price for their poor choices, they still had a terrific time. Managing a company is really difficult. As a result, having fun on the journey is essential. Constant anxiety only adds to the difficulty.