'The Wolf of Wall Street' Teaches These 7 Lessons for Success - Deepstash

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'The Wolf of Wall Street' Teaches These 7 Lessons for Success

https://www.inc.com/john-rampton/wolf-of-wall-street-lessons.html

inc.com

'The Wolf of Wall Street' Teaches These 7 Lessons for Success
The Wolf of Wall Street was a hit film. People glorified the movie itself and also Jordan Belfort, the main character. The story and plot were extravagant, wild and fun. One of the craziest parts about this movie is that the story is true.

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Being friends with your employees

Being friends with your employees

... means they will do anything for your company.

Belfort had strong individual relationships with his employees, outside of the context of work. This led to more respect for him and a higher willingness for employees to make sacrifices for the company.

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Do not rule someone out

... because of past issues.

Jordan Belfort took a chance on a handful of employees that were in dire situations. Despite past misconduct or lack of experience, he looked at personality and work ethic when making decisions.

As a result, he hired many of the "wrong types" of people. These people did great work for him, and felt indebted for the opportunity. It teaches to look beyond a resume or a few key signals when making hiring choices.

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Building a company culture

Social gatherings are a great way to build company culture. Stratton Oakmont was extremely creative about the events that they had. These activities created a stronger bond between people at the company and offered a fun, social outlet.

Company get-togethers do not have to be as morally wrong as Stratton Oakmont's were to accomplish the same thing. Rather, it takes extra creativity and effort from a company.

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Sacrificing money or success

Be careful about what you are sacrificing for money or success. Jordan Belfort became an entirely different person once getting involved in Wall Street. He hurt the very people that he cared about and who cared about him.

It can be tempting to make bad decisions for instant gratification. The most successful entrepreneurs are the ones that are able to avoid these impulses.

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Quitting while you are ahead

Sometimes it makes sense to quit while you are ahead. Jordan Belfort had an opportunity to step back and walk away from the negative company culture. He let the comradery and the instant gratification outweigh the right decision to let someone else take over as CEO.

Sometimes, the best choice is to take a step back. This could be due to personality clashes or you not being the right fit for the role any longer.

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Pros and consof a competitive or intense company culture

Belfort's employees worked extremely hard due to Stratton Oakmont's culture. This effort led to high output and a high standard of work. On the other hand, people made moral sacrifices for achievement.

When there is such a high degree of intensity, especially with money involved, people can make poor decisions. A balance is important when thinking about company culture.

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Take life a little less seriously

Belfort and Stratton Oakmont made so many crazy decisions. While they paid the consequences for those choices, and this is by no means worthwhile, they also had a ton of fun.

Running a company is extremely challenging. Therefore, it is crucial to enjoy the journey. Constant stress just makes it more difficult.

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SIMILAR ARTICLES & IDEAS:

The Wolf of Wall Street

The film stars Leonardo DiCaprio as Belfort, a New York stockbroker who runs a firm that engages in securities fraud and corruption on Wall Street in the 1990s.

Life lessons

  • Sex matters. In all aspects of our lives, it's good to ask, "what does sex have to do with it?"
  • Sex can be as addicting as cocaine. "When our desire for 'more sex' interferes with our family or professional lives, we are looking for love in all the wrong places."
  • Many of us settle for sex when we're really looking for love.
  • There is a strong drive to be part of a male tribe.

  • The same forces that bring us together within a tribe often pit us against other tribes. "For humans there is always a selfishness at the group level. Humans nearly always put Us ahead of Them."

  •  The way we treat "them" is the way we ultimately treat ourselves. 

    Truly, what goes around, comes around.

Top business lessons to take away

Top business lessons to take away
  • Have a vision in mind, and let that steer your decisions. Belfort didn’t get rich by accident.
  • Sell Yourself. Belfort acted powerful and wore fancy suits, and p...

The Wolf of Wall Street film

Leonardo DiCaprio plays Jordan Belfort, the infamous Wall Street stock market guru who built an incredible fortune selling penny stocks and laundering money, before facing the wrath of the FBI, prison...

Eat your pride and start from scratch

Belfort's career started at a high-flying stock broking firm, but when it crashed he found himself at a dodgy local operation that sold worthless ‘penny stocks’ in companies unlikely to succeed. Not perturbed, he fearlessly built a livelihood from scratch.

Have passion

DiCaprio’s portrayal showed how much Belfort loved his industry and was intensely motivated to sell and succeed. 

If a business owner channeled passion like this in a legal way, there would be no stopping them.

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