Book Reviews

Way Of The Wolf by Jordan Belfort -Book Notes, Summary, and Review

41. Way Of The Wolf - Jordan Belfort

Get it on Amazon

Rating: 7/10

Date of reading: 22nd – 29th of October, 2017

Description: How to sell in today’s world from the worlds most famous salesman. The Wolf of Wall Street teaches his Straight Line Selling system in the book and gives you everything you need to become a great (and ethical) salesperson.

 

My notes:

 

PROLOGUE
THE BIRTH OF A SALES SYSTEM

 

“You see, the system turned out to be almost too effective. It created freshly minted millionaires at such a ferocious clip that they ended up skipping over the typical life struggles that most young men and women go through that serve to build their characters. The result was success without respect, wealth without restraint, and power without responsibility—and, just like that, things began to spiral out of control.” ( :7)

 

1
CRACKING THE CODE FOR SALES AND INFLUENCE

 

“monthly commission, and one of them was earning more than triple that. broker—or Strattonite, as they liked to call themselves—was already earning more than $12,000 in massive success since the day the firm opened. In fact, by the end of our third month, the average At the time, Stratton was selling penny stocks to average moms-and-pops, and we were having the results were so incredible that I decided to completely reinvent the firm. whatever reason, no one on Wall Street had ever tried it before; and when I tested the idea myself, retail stock market, which was selling five-dollar stocks to the richest 1 percent of Americans. For As the story goes, exactly four weeks prior to that, I had stumbled upon an untapped niche in the” ( :11)

“ndividual needs, objections, values, pain points—despite all that stuff, the same three key elements must still line up in any prospect’s mind before you have a shot at closing them. Let me repeat that: the reason every sale is the same is because, despite all that individual stuff, the same three key elements still have to line up in any prospect’s mind before you have a shot at closing them.” ( :12)

“THE THREE TENS 1 The product, idea, or concept 2 3” ( :13)

“You see, just because someone has positive intent doesn’t necessarily mean that the resulting decisions will end up having a positive impact on them. In fact, with many people, it often doesn’t. Their lives are punctuated by a series of self-defeating decisions. However, even these “serial bad decision-makers” believe their decisions were good when they made them. That’s the definition of positive intent.” ( :15)

“THE THREE TENS 1 The product, idea, or concept 2 You, trust and connect with you 3” ( :16)

“You see, like last time, I left out one very crucial point from the scenario—namely: What if your prospect doesn’t trust the company you work for?” ( :16)

“So that’s what makes up the third of the Three Tens. THE THREE TENS 1 The product, idea, or concept 2 You, trust and connect with you 3 The prospect must trust and connect with the company” ( :17)

“you have logical certainty, and you have emotional certainty, and they’re entirely different things.” ( :18)

“On the flip side, emotional certainty is based on a gut feeling that something must be good. Once it hits us, we feel a craving inside that simply must be fulfilled, even if there’s a heavy price to pay for fulfilling it.” ( :19)

“You see, people don’t buy on logic; they buy on emotion, and then justify their decision with logic. The logical mind is analytical by nature, so the more information you give it the more information it wants to know. In consequence, if you get your prospect to a high level of logical certainty, they’ll say, “It sounds great, let me think about it . . .” or “Let me do a bit more research and I’ll call you back.” However, if you skip making the logical case and focus strictly on creating emotional certainty, it won’t do the trick either, because the logical mind serves as a human bullshit detector.” ( :19)

 

2
INVENTING THE STRAIGHT LINE

 

“hundred cards yielding ten qualified leads, from which we would open between two or three new accounts. And while those numbers might not sound overly impressive, any broker who did that for three straight months would be on pace to make over $2 million per year; and if he did it for a year, he’d be on pace to make more than triple that.” ( :22)

“And on and on they went—calling out objection after objection, as I wrote each one down, in progressively worse handwriting. By the time they were done, I’d covered the entire surface of the board with every objection they could possibly think of . . . which, at the end of the day, turned out to be only fourteen.” ( :24)

“half of them were variations of two: First, that it was a bad time of year, as in it’s tax time, summertime, back-to-school time, Christmastime, Miller time, Groundhog Day. And second, that they needed to speak to someone else, as in their spouse, their lawyer, their business partner, their accountant, their local broker, their local soothsayer, their local Tooth Fairy. What a bunch of crap! I thought.” ( :24)

“that the common objections were nothing more than smoke screens for what was really holding a prospect back, which was a lack of certainty.” ( :24)

“”So, basically, you want to keep the prospect on the straight line, moving forward towards the close, and he keeps trying to take you off the straight line, and spiral off to Pluto”—I wrote the word “Pluto” near the top of the whiteboard—”or down here, to Your-anus”—I wrote the word “Youranus” near the bottom of the whiteboard—”which is not a very good place to be, at least for most of you.” I threw my hands in the air and shrugged, as if to say, “To each his own!”” ( :27)

“”Well, I’ve got a news flash for you,” I continued sarcastically. “You’re wrong. People see through that shit in two seconds flat, especially rich people, who are constantly on guard for that. To them, it’s actually repulsive, not attractive, which is the opposite of what building rapport is all about.” I shrugged. “Anyway, it doesn’t really matter, because you guys are done with that shit, now. It’s over.” ( :27)

“”When you gather intelligence from a prospect, you’re doing all of the following things: “First, you’re identifying their needs—and not just their core need but also any secondary needs or ‘problems’ they might have.” ( :29)

“1 You must take immediate of control the sale. 2 You must engage in massive intelligence gathering, while you simultaneously build massive rapport with your prospect. 3 You must smoothly transition into a Straight Line presentation, so you can begin the process of building absolute certainty for each of the Three Tens.” ( :29)

“You see, over those next few hours, I literally invented the Straight Line System as I was teaching it to the Strattonites. The system effortlessly poured out of me, with each breakthrough paving the way for yet another breakthrough. I felt as if I were almost channeling the information from some place else, a place of infinite knowledge and infinite wisdom, a place where the answers to all of my questions, no matter how complex, were ready and waiting, and there for the taking. So I took all that I could, with relish.” ( :31)

“It showed the Strattonites what to do first, what to do second, what to do third . . . all the way down to the eighth and final step, where the prospect either said yes, and opened an account with you, or he stuck to whatever objection he’d been using as his smoke screen, and you ended the call, respectfully, and moved on to the next prospect.” ( :31)

“Straight Line System and began teaching it around the world. Amazingly, though, the core of the syntax remains almost identical to what came out of me that first Tuesday evening, which makes perfect sense when you consider what happened the next morning, when the Strattonites hit the phones armed with the Straight Line System for the very first time. In fact, if I hadn’t seen it with my own eyes, I wouldn’t have believed it. From literally the moment they started dialing, the entire office went on an account-opening spree of such biblical proportions that, within 90 days, every last one of them had become a million-dollar producer.” ( :31)

“Day after day, I told them that their past did not equal their future, unless they choose to live there. I told them that if they fully embraced the Straight Line System and simply picked up the phone and said the words I taught them, they could become as powerful as the most powerful CEO in America. And I told them to act as if.” ( :32)

“”Mayb e you were born just an average guy: not all that smart, not very well-spoken, not overly motivated; and you slept through grade school, you cheated your way through high school, you didn’t go to college. So maybe you’ve had the desire to achieve greatness, but you truly weren’t capable of it. You lacked the skills you needed to go out into the world and kick some ass! “Now, be honest here, how many of you guys feel like that sometimes? Not always, but” ( :32)

“”Now, be honest here, how many of you guys feel like that sometimes? Not always, but sometimes, like when you’re lying in bed at night, alone with your thoughts, and the fears and the negativity come out and start whispering in your ear, eating away at your self-confidence and self-worth? Raise your hand if you feel like that sometimes.”” ( :32)

“”And, by the way, I hate to say it, but that includes pretty much every one of you in this room.” Then I’d quickly add the punch line. “Or at least it used to.” ( :32)

“”In fact, that’s why I can point to any person in this room who’s been here for more than a few months, and he’ll tell you some ridiculous success story that no one outside of this room would even believe, because the success is so extreme that they can’t even wrap their arms around it . . . ,” and on and on I would go, day in and day out, once in the morning, before the market opened, and then again in the afternoon, after it closed. I kept pounding the Strattonites with a twice-daily combination of skills training and motivation; and with each passing day the success stories grew crazier and crazier.” ( :33)

“By the end of year one, top producers were earning over $250,000 a month, and their success seemed to be almost contagious. Even par had climbed to $100,000 a month, and the attrition rate was basically zero. In other words, if you made it into the boardroom, then you were almost guaranteed to succeed. All you had to do was take a quick look around you, in any direction, and there was massive success everywhere.” ( :33)

“1 The prospect must love your product. 2 The prospect must trust and connect with you. 3 The prospect must trust and connect with your company.” ( :33)

“In fact, in the vast majority of cases, you’re going to have to ask for the order at least two or three times before you have any chance of your prospect saying yes.” ( :34)

“The Straight Line technique that we use to accomplish this is called looping.” ( :34)

“We call this level of certainty a person’s action threshold, and it comprises the fourth core element of the Straight Line System. By way of definition, we refer to people who are very easy to sell to as having a low action threshold; and we refer to people who are very difficult to sell to as having a high action threshold.” ( :35)

“So, for these ultra-tough nuts to crack, we now turn to the fifth core element of the Straight Line System: the pain threshold.” ( :35)

“THE FIVE CORE ELEMENTS OF THE STRAIGHT LINE SYSTEM 1 The prospect must love your product. 2 The prospect must trust and connect with you. 3 The prospect must trust and connect with your company. 4 Lower the action threshold. 5 Raise the pain threshold.” ( :36)

“The first number is a prospect’s level of certainty about your product; the second number is their level of certainty about you; the third number is their level of certainty about your company; the fourth number addresses their action threshold; and the fifth number addresses their pain threshold. That’s all there is: five basic numbers to crack.” ( :36)

“However, as powerful as the Straight Line System is, it completely breaks down in the absence of one crucial element, which is: You need to take immediate control of the sale. Without control, it’s like you’re an amateur boxer stepping into the ring with Mike Tyson. Within seconds, you’d be completely on the defensive, covering up from Tyson’s massive blows, until one finally slips through, and you get knocked out.” ( :37)

 

3
THE FIRST FOUR SECONDS

 

“When we saw something back then, we had to size it up instantly and decide whether to stay or run. It was only after we were sure that we were safe that we’d start debating whether or not it made sense to stick around for a potential benefit.” ( :38)

“Here’s what happens when scientists flash a test subject a picture of someone: first, the subject’s visual cortex lights up almost instantly, and then, a quarter of a second later, their prefrontal lobe lights up, which is where the judgment center of the brain is located, and a decision gets made. It happens that quickly.” ( :38)

“1 Sharp as a tack 2 Enthusiastic as hell 3 An expert in your field” ( :38)

“Now, in truth, if you screw up the first four seconds, you have another ten seconds, at most, to play catch-up ball, but after that, you’re completely done. It’s basically a lost cause. You can’t influence anybody.” ( :38)

“In 2013, a professor at Harvard University published a study on this exact topic—the importance of first impressions—and what the study found was that it wasn’t four seconds until a prospect made the initial judgment; it was actually five seconds. So I have to apologize for being off by one second.” ( :40)

“1 First, you’re sharp as a tack. If they don’t think that you’re sharp as a tack, you’re wasting their time. You” ( :40)

“You must sound upbeat, enthusiastic, and full of” ( :40)

“energy, and be a positive influence in their lives. One of things that I had to learn the hard way was that just because you can sell someone something doesn’t necessarily mean that you should.” ( :41)

“3 Third, you’re an expert in your field—an authority figure and a force to be reckoned with. From the time they’re old enough to walk, people are taught to respect and listen to authority figures. In sales situations, I convince the prospect that I am a highly competent, ultraknowledgeable professional by coming off as a world-class expert in my field, right out of the gate.” ( :41)

“1 Get to the point quickly 2 Not waste the prospect’s time 3 Have a solution to their problem 4 Be an asset to them over the long-term” ( :41)

“If you’re perceived the right way—that you’re sharp as a tack, enthusiastic as hell, and an expert in your field—then the prospect will defer to you and let you take control of the sale. If you’re perceived the wrong way—that you’re as dull as dishwater, a disinterested bore, and a stone-cold novice—then the opposite happens and the prospect takes control. It’s nothing less than a make-or-break situation.” ( :42)

 

4
TONALITY AND BODY LANGUAGE

 

“yelling at your prospect, “Hey, Bill, listen to me! I’m sharp as a tack! I’m enthusiastic! I’m an expert in my field! I swear, I swear, I swear . . .” and blah, blah, blah.” ( :43)

“So if your words won’t do it, then where do you turn? The answer is simple: your tone of voice.” ( :43)

“You see, after millions of years of evolution, the human ear has become so adept at recognizing tonal shifts that even the slightest one can have a dramatic impact on the meaning of a word or phrase. For example, when I was a kid and I did something wrong, my mom would say “Jordan!” in a stern, no-nonsense voice, and without her having to say another word, I immediately knew that I was in serious trouble. Conversely, if she said “Jor-dan!” in a singsong tone, then I immediately knew that things were fine.” ( :43)

“In terms of percentages, tonality and body language comprise approximately 90 percent of our overall communication, split evenly down the middle, with each modality having approximately a 45 percent impact, depending on which study you buy into (and there are more of them than you can count). The remaining 10 percent of communication is comprised of our words—meaning, the actual words we say as we verbally communicate. That’s right: only 10 percent. Now, I know what you’re probably thinking right now: You’re thinking that 10 percent sounds like way too low a number to measure the importance of words, especially in a situation when someone is trying to sell you something.” ( :44)

“In total, of the twenty-nine tonalities that a human being uses to communicate, only ten of them are core-influencing tonalities—meaning that we use them over and over again as we go about influencing and persuading.” ( :45)

“In fact, not only do you already know all ten tonalities and all ten body language principles but you’ve also used them countless times throughout your life. The only difference is that, in the past, you have been using them automatically or unconsciously—without even thinking about it. In other words, there have been countless times in your life when each one of these tonalities came out of you naturally, as a reaction to what you were actually feeling at the moment; and the same thing is true when it comes to body language.” ( :45)

“I’m talking about something called bottled enthusiasm, which sits just below the surface and literally bubbles over as you speak. It’s about enunciating your words with absolute clarity and stressing your consonants so that your words have intensity to them. It’s like you’re talking with your fists clenched, and there’s an active volcano inside you ready to erupt at any second—but of course it doesn’t, because you’re an expert who’s in total control.” ( :46)

“That’s why it’s so absolutely crucial, right out of the gate, to come off as being sharp as a tack, enthusiastic as hell, and an expert in your field. If you do, then not only will you keep your prospect hanging on your every word, but they’ll also let you take control of the sale and begin the process of moving them down the Straight Line.” ( :47)

“Some 200 million times more powerful than its conscious counterpart, your unconscious mind, with its blazing speed and near infinite storage capacity, is what keeps you alive as you move through” ( :47)

“the world.” ( :48)

“Conversely, your conscious mind is literally starving for processing power as it tries to make sense of things while you move through the world. In consequence, at any given moment, it can only focus on 3 or 4 percent of the surrounding environment, and it deletes the rest—allowing it to focus 100 percent of its relatively meager processing power on a few key items that it deems most important. Collectively, these key items represent conscious awareness, and the way you analyze them is through logic and reason.” ( :48)

“In essence, everything you’ve seen or heard has been neatly filed away there, no matter how insignificant it may have seemed at the time or whether you remember it now or not. Your unconscious mind recorded the experience, compared and contrasted it with similar past experiences, and then used the results to refine and augment your internal “map of the world,” as the phrase goes, which serves as your internal barometer for formulating snap decisions, instant judgments, and first impressions, your internal model of how you perceive your environment, how you believe it should operate, and how you believe you should operate within it, which types of behaviors lie inside your comfort zone and which ones don’t.” ( :48)

“Now, obviously I’m taking a bit of poetic license here, but my point is spot-on: rather than having to stop at every new door or every fresh crack in the sidewalk or countless other occurrences, so your conscious mind can logic things out, your unconscious mind takes immediate action and saves your conscious mind the trouble.” ( :49)

 

5
STATE MANAGEMENT

 

“You see, the Stratton training program was six months long, so at the time I witnessed their transformation, none of the kids had started making any money yet. They were all still trainees, which meant they were still flat broke!” ( :51)

“When you’re in an empowered state—like “certainty,” for instance—then you’re able to access your internal resources, which then sets you up for massive success. Conversely, when you’re in a disempowered state, you’re blocked from accessing your internal resources, and you’ve set yourself up for massive failure. It’s very similar to” ( :52)

“I mean, what do you call someone who walks around all day long with their chest puffed out, in a state of absolute certainty? You call him an asshole, right? We hate those people! And you don’t want to be one!” ( :53)

“I don’t want to belabor the point, but this is a far bigger problem in the self-development world than you’d think, especially with people who attend seminars that focus solely on inner-game skills. The problem that arises is that when you teach those skills without the context of a real-world application, the attendees almost invariably get the wrong message.” ( :53)

“According to NLP, the software of the brain is language, and the way you write code is by creating language patterns, which consist of a group of words—as brief as a short sentence or as long as a few paragraphs—that have been structured in accordance with a series of basic yet extremely powerful linguistic principles that can be used to reprogram virtually any person’s brain, including your own, in a number of very profound ways.” ( :54)

“For example, if you spend the next few minutes focusing on everything that’s great in your life—a recent business success, being in a loving relationship, the health of your children, a recent goal you achieved, a family getaway—then you’ll quickly pop into a positive, empowered state that reflects all those wonderful things. Conversely, if you spend the same amount of time focusing on everything that’s wrong in your life—a recent business failure, a divorce, a sick child, a recent goal you failed to achieve—then you’ll quickly fall into a disempowered state that reflects all those crappy things. It’s as simple as that. The second of these two elements is:” ( :55)

“In NLP, the ringing sound of the bell is referred to as an anchor, the act of ringing the bell is referred to as firing off an anchor, and the process by which two formally unrelated items become linked together in this way is referred to as setting an anchor.” ( :57)

 

6
A SUREFIRE FORMULA FOR MANAGING YOUR STATE

 

“The reason I began studying it was a desire to learn two specific strategies that NLP was particularly well known for at the time. The first strategy was a timeline regression, which was designed to help people crack the code of their limiting beliefs and replace them with empowering beliefs; and the second strategy was anchoring, which, as discussed in the previous chapter, was designed to help people trigger a peak emotional state at will.” ( :58)

“The key, Bandler explained, is that you have to be at the absolute tippy-top of the state, in terms of the emotional intensity you feel inside, in order to successfully set an anchor. Anything less than that, and the anchor won’t set.” ( :58)

“As Bandler explained, not only does the anchor need to hit you all at once but it also needs to stand out in a dramatic way. A common, everyday sound or gesture simply won’t cut it. It needs to be extreme—the more extreme the better, in fact—and the more unusual the better too. In essence, you want to use something that’s going to hit your brain in an unforgettable way and literally shock your senses. That’s what a great anchor does, and it’s absolutely crucial that you have one. But don’t waste any of your time trying to find one. A little over seven years ago, I stumbled upon the world’s greatest anchor, and I’m going to be handing it to you on a silver platter in this very chapter.” ( :59)

“movies shot in wide screen and Technicolor with stereo and Dolby sound reduction, all the way to IMAX theaters, with 3-D and surround sound and so forth. Notice the obvious trend towards making things bigger and brighter and clearer and more realistic . . . until they hit a certain point and the trend began to reverse itself, with things like supertall IMAX screens, 3-D, and the shaking seats of Sensurround never really catching on, despite their providing a more “lifelike” experience. You see, this is exactly how we use the five sensory modalities to intensify our state of certainty— by taking the image you’ve created in your mind’s eye and putting it through the same evolutionary process as the motion picture industry. I’ll guide you through it right now.” ( :61)

“1 It had to be a scent that was extreme enough, unusual enough, powerful enough, and pungent enough to meet Bandler’s criteria, yet still be pleasing enough to the nose to not gross me out or become its own negative anchor. 2 It had to have an unobtrusive delivery system that was portable, practical, and personal to me— meaning, I could easily slip it into my pocket, remove it without fanfare, and then use it to fire off my anchor without the scent escaping into my surroundings and impacting the people around me.” ( :62)

“The stark reality, however, is that the numerous benefits they’re getting from being in an elevated state—they’ll learn faster, they’ll remember more, they’ll have an experience that they’ll never forget (and that they’ll buy tickets for again!)—are only temporary.” ( :64)

“In other words, why try to manufacture an ultrapeak state of absolute certainty through a series of powerful yet entirely subjective NLP techniques and never really know if I ever got there? All I had to do was wait until I closed a really big sale, in the real world, which caused me to pop me into a peak state of absolute certainty organically, and then, right then—and I mean right then, in that very instant—when I was basking in the afterglow of closing an awesome sale, and I knew in every cell of my body that I truly was in an organic state of absolute certainty, as opposed to an artificially manufactured imitation, I would bring out my BoomBoom and take a giant whiff up each nostril —boom! boom!—and just like that, I’d have set myself one powerful anchor.” ( :64)

 

7
ADVANCED TONALITY

 

“When I say, “extremely powerful,” what I mean is that once you become even reasonably proficient with this strategy, you can actually get people to buy things they shouldn’t buy, and do things they shouldn’t do, without them even realizing that an extraordinary amount of influence was brought to bear.” ( :66)

“To that end, when you’re speaking to a prospect in a situation of influence, their brain is actually listening to two distinct things at once: first, they’re listening to the words you say and analyzing the meaning of each one, both individually and in the context of the overall sentence; and second, they’re listening to their own inner monologue, as it debates the pros and cons of the last few words you said, based on the meaning they applied to them.” ( :67)

“So, instead of saying, “Hi, my name is Bill Peterson, from the Acme Travel Company. I’m looking for Mr. John Smith. Is he home?”—which is the equivalent of death—the salesperson should simply say, in a very upbeat tone: “Hi, is John there?”” ( :69)

“core influencing tonality, which is called phrasing a declarative as a question, and he applies it in the following words: “Hi, my name is Bill Peterson, calling from Acme Travel Company in Beverly Hills, California. How are you today?”” ( :70)

“And again, due to the conscious mind’s limited processing power, as long as your prospect remains in search mode, their internal monologue is paralyzed from working against you.” ( :71)

“The way you create mystery and intrigue with this tonality is by lowering your voice to just above a whisper and then hanging on the R in the word “reason” for an extra fraction of a second. I In addition, because you lower your voice to just above a whisper, the reason takes on the properties of a secret, creating a sense of urgency and scarcity, which takes us now to our fourth core influencing tonality, namely: scarcity.” ( :72)

“Now, John, you’ll make money with this, but more importantly, what I can do for you over the long term in the way of new issues and arbitrage plays . . .”” ( :75)

 

8
ADVANCED BODY LANGUAGE

 

“When a person lays eyes on you for the first time, in that 1/24th of a second that their judgment indicator goes up and down, they see your face and how you move and they make a judgment. In essence, they rip you apart, process you in their brain, then put you back together and you are judged.” ( :76)

“The things a person will internally debate start with a very basic observation: your appearance. They’ll then make a snap decision about you as a result of that. It’s like we discussed in item number one on the syntax. They’ll be debating things like how clean-cut you are, if you’re well dressed or not, how much jewelry you’re wearing. It all goes back to judging a book by its cover. How someone dresses, how long their hair is, how they groom themselves, how they shake hands—it all makes a huge difference in how we’re perceived and, for that matter, how we perceive other people.” ( :77)

“Let’s start with spatial awareness. If you’re a man selling to another man, then you want to do what’s called cornering off—meaning you want to stand at a slight angle to another man, as opposed to directly in front of him. When a man faces another man, it creates for many a feeling of conflict and hostility, and it instantly takes the men out of rapport. So what you do to avoid this is you corner off with the other man—meaning you shift your body position so you’re at a slight angle to him, which has the effect of immediately disarming him.” ( :79)

“For communication with a woman, though, it’s the exact opposite. If you’re a man trying to influence a woman, the woman wants you to stand directly in front of her and keep your hands above waist level, where she can see them.” ( :79)

“Rememb er, there’s pace, pace, lead . . . and then there’s Pace! Pace! Freaking Lead! That’s the way I teach it: ninja-style, on steroids. What I mean by this is that they don’t see it coming. Don’t forget that pacing is one of those things in life that needs to be done exactly right, or else it won’t work. But when you actually do get it right, then watch out! Not only will it help get you into a super-tight rapport with someone, it will also help you change his or her emotional state from a negative one to a positive one and increase the level of certainty.” ( :82)

“deal! I’m not gonna calm down!” By trying to enter his world in a calm state, when he’s in an aggravated one, I’d only have aggravated him more. So, instead, I matched him. I walked in acting as pissed off and angry as he was. In fact, I acted even angrier. I said, my voice booming, “What the hell is going on, Carter? I know that bastard of a kid is a ball hog! We’ve got to do something about it right now! Should we call the coach and get him thrown off the team?”” ( :82)

“Matching can be a way to calm anyone down, or get them excited about something, or feeling certain about something. You simply enter their world where they are, and then you pace them, you pace them . . . and then you lead them in the direction you want them to go. Now, I didn’t invent pacing and leading. It’s been around since the very dawn of human communication. All great communicators do this. They do it naturally, without even thinking about it. But anyone can learn it, once they know the rules.” ( :82)

 

9
THE ART OF PROSPECTING

 

“”Fine, I’ll sell it to you,” he muttered, grabbing the pen and taking a moment to examine it. Then, all at once, he completely changed his demeanor and flashed me a warm smile and said, in a respectful tone: “So, tell me, Jordan, how long have you been in the market for a pen?” “I’m not in,” I replied. “I don’t use pens.” “Really? Well, then you can have your lousy pen back,” he snapped, tossing the pen back onto my desktop. Then he looked at the kid and said, “I don’t sell things to people who don’t need them. I leave that to novices, like you.”” ( :85)

“1 Research the marketplace to identify the best prospective buyers— prospects, for short—for a particular product. 2 Develop a cost-effective strategy that gets the company’s message in front of as many of these prospects as possible. 3 Embed the message with some sort of offer or hook or call to action that prompts as many of these prospects as possible to enter the company’s sales funnel. 4 Coordinate with the sales department to ensure a seamless handoff of the funnel, so prospects can be turned into customers.” ( :87)

 

10
THE TEN RULES OF STRAIGHT LINE PROSPECTING

 

“”John, just a couple of quick questions, so I don’t waste your time.” “John, let me just ask you a couple of quick questions, so I can best serve you.” “John, let me ask you just a couple of quick questions, so I can see exactly what your needs are.”” ( :92)

“people who are just like them, versus the exact opposite of them. Let me give you a quick example. “You wouldn’t go check out a country club to see if you want to join, and then come home to your wife and say, ‘Guess what, honey? I went to this really cool country club today! There wasn’t a single soul there who was anything like me. They all had different politics, different religions, different interests; all in all, I didn’t have a single thing in common with any of them! So I joined.'” ( :100)

“Pluto, all you need to say is something along the lines of ‘Wow, that’s totally cool. It sounds really interesting. I can see why you feel that way. Now as far as your goal for learning how to trade currencies goes . . .’ And then you lead him back to the Straight Line and pick up right where you left off by asking him the next question on your list.” ( :101)

 

11
THE ART AND SCIENCE OF MAKING WORLDCLASS SALES PRESENTATIONS

 

“So, let’s do that right now, starting with charisma’s first component, which is the effective use of tonality—meaning, that you sound so good when you speak that you keep people hanging on your every word as opposed to them tuning out, or dividing their attention among other people in the room. The second component of charisma is the targeted use of body language—meaning, you’re being hypervigilant about applying all ten body language principles, with a heavy emphasis on active listening, to communicate an extraordinary level of attentiveness and empathy. And charisma’s third component—which is typically the toughest one of all, for most people—is not saying stupid shit.” ( :103)

“Within ten seconds, I was 100 percent certain this particular script was the biggest piece of shit I’d ever had the displeasure of laying my eyes on. (And that’s saying a lot when you consider how awful the average non-Straight Line script is.)” ( :105)

“I was cut off in mid-sentence by the sight of the flame being unnaturally squelched out. Apparently, the paper had been treated with some kind of fire-resistant coating. “Can you believe this shit?” I muttered. “This script is so cold that it won’t even catch fire!” With that, I threw the script on the floor and began jumping up and down on it, as the entire room clapped and cheered in approval—or, should I say, the entire room sans the sales manager. Sensing his impending doom, he had slipped out of the training session while I was trying to torch his script, and he was never seen or heard from again. But nobody cared—least of all the company’s CEO, who watched in awe as his sales soared by more than 700 percent the following month. It was a truly shocking result, he remarked in a handwritten thank-you note I received from him shortly thereafter. In addition to the note, there was also a hefty bonus check inside the envelope, with a yellow Post-it attached to it. It said: J, You deserve every penny of this! Just make sure Ol’ Mel gets his cut, too!” ( :106)

“”Now, I assume you guys have all seen the movie Braveheart,” I said to his sales force. “Well, you know that scene where the ragtag Scottish army is standing there dressed in their torn-up kilts, holding their pitchforks and axes, and across the field is the massive army of English redcoats, who are standing in perfect formation with their archers and heavy horses and the infantry, who are all holding longswords, and it’s obvious that the Scots are about to get their asses kicked. You guys all know the scene I’m talking about, right?” They all nodded their heads. “Great. And then Mel Gibson comes riding up on his horse, with his face all painted blue, and he breaks into that famous speech, where he says, ‘Sons of Scotland, you stand here today in the face of” ( :106)

“three hundred years of oppression and tyranny and blah-blah-blah'” ( :107)

“Since the time that you were old enough to talk, every single movie or TV show that made you laugh or cry or scream or shout, or that got you so deeply invested in the characters that you ended up binge-watching the entire series in a single weekend; every last one of them was scripted.” ( :107)

“In other words, after you make a powerful statement, you want to lock it down by asking the prospect a simple yes-or-no question, such as: “You follow me so far?” or “Make sense?” or “Are you with me?” By doing this, not only do you keep the prospect engaged in the conversation but you also get them into the habit of saying yes, which creates consistency.” ( :109)

“In other words, from a sober, logical perspective, is the sum total of all the benefits I expect to receive greater than the sum total of all the energy I’ll have to expend in order to receive them?” ( :111)

“Even more telling, what Amazon has found is that if their customers are forced to click even one more time, to go to a different landing page, they will lose a major percentage of their buyers; and if a customer has to click a third time, their conversion rate drops through the floor. That’s how important this equation is to people making a positive buying decision.” ( :112)

“”Now, John, getting started here is very, very simple. It’s just a question of your name, some basic information, and then we handle everything else for you over on this end. And when you combine that with [benefit #1] and [benefit #2] and [benefit #3], then, believe me, John, the only problem you’re going to have is that you didn’t buy more. Sound fair enough?”” ( :112)

“”It’s a cash outlay of only three thousand dollars, and let me quickly tell you exactly what you’re going to get for that: you’re going to get [benefit #1] and [benefit #2] and [benefit #3], and again, like I said before, getting started is very, very simple, so believe me, if you do even half as well as the rest of my clients in this program, then the only problem you’ll have is that I didn’t call you six months ago and get you started then. Sound fair enough?” And that’s how you close.” ( :113)

“For example, there are patterns designed to create logical certainty and there are patterns designed to create emotional certainty; there are patterns designed to create certainty for each of the Three” ( :116)

“Tens, and there is a pattern to lower someone’s action threshold and one to add on pain. In short, there is a pattern for everything.” ( :117)

“Here’s a typical language pattern for a close: “Give me one shot, and believe me, if I’m even half-right, the only problem you’ll have is that I didn’t call you six months ago and get you started then. Sound fair enough?”” ( :120)

“Very simple—you have it memorized. Like I said, I want to know my scripts so well that I move past the point of the actual words. Remember, 10 percent of human communication is words; the other 90 percent is tonality and body language. By memorizing my script, I free up my conscious mind to focus on the 90 percent. So I urge you to keep reading your scripts back to yourself, to make sure all the language patterns and transitions are absolutely seamless. It takes a bit of time, but I promise you that it’s well worth it.” ( :120)

 

12
THE ART AND SCIENCE OF LOOPING

 

“”Let me think about it”; “Let me call you back”; “Send me some information”; “I’m not liquid right now”; “I have another source [or supplier or broker] I work with”; “It’s a bad time of year [including it’s tax time, it’s summer vacation time, it’s Christmastime, it’s the end of our fiscal year]”; and “I need to speak to someone else [which includes my spouse, my lawyer, my accountant, my business partner, my financial advisor].”” ( :122)

“Remind him that you two spoke a few days or a few weeks ago, and that you emailed him a bit of information on your company. Do not— I repeat, do not— ask him if he actually received the information or had a chance to review it, as there’s an excellent possibility that he’ll say “no” to at least one of those questions, which gives him an easy exit ramp out of the encounter. The way” ( :122)

“to avoid this is to simply ask him if the conversation “rings a bell,” to which he will almost always reply with a yes.” ( :123)

“Hi, is Bill there? You: Yeah, this is Bill. Your Prospect: Hey, Bill! It’s John Smith, calling from XYZ Securities, on Wall Street. How you doing You: today? I’m okay. Your Prospect: Okay, great! Now, Bill, if you recall, we spoke a few weeks back, and I emailed you a bit of You: information on my company, XYZ Securities, along with some links to a few of our recent stock recommendations. Does that ring a bell? Uh, yeah, I think so. Your Prospect: Okay, great! Now, Bill, the last time we spoke, I promised to get back to you when I came You: across an investment idea that had huge upside potential with very little downside risk. Well, the reason for the call today is that something just came across my desk, and it’s perhaps the best thing I’ve seen in the last six months. If you have sixty seconds, I’d like to share the idea with you. You got a minute?” ( :123)

“For example, let’s say Bill replies, “It sounds interesting. Let me think about it.” To that, you’ll answer with the standard Straight Line response to an initial objection, which is: “I hear what you’re saying, Bill, but let me ask you a question: Does the idea make sense to you? Do you like the idea?” Similarly, if Bill had said, “I need to speak to my accountant,” then you would’ve said, “I hear what you’re saying, Bill, but let me ask you a question: Does the idea make sense to you? Do you like the idea?” And, once again, if he had said, “It’s a bad time of year,” then you would’ve said, “I hear what you’re saying, Bill, but let me just ask you a question: Does the idea make sense to you? Do you like the idea?” In other words, no matter which of the twelve to fourteen common objections your prospect initially hits you with, you are always going to answer in exactly the same way. You’re going to say: “I hear what you’re saying, Bill, but let me ask you a question: Does the idea make sense to you? Do you like the idea?”” ( :124)

“”Exactly—it really is a great buy down at this level! In fact, one of the true beauties here is . . .”” ( :126)

“”You see what I’m saying here, Bill? Do you like the idea?”” ( :128)

“Whatever variation you ultimately hear, at the end of the day, they all boil down to the same reality—that your prospect has just admitted that trust, or a lack thereof, is now the cornerstone issue for him, not a cornerstone issue. In other words, once your prospects openly admit that they love your product, it significantly increases the importance of them openly admitting that it’s trust that’s holding them back from buying; and, taking it one step further, once they do admit that—that it’s actually a lack of trust that’s holding them back, not that bogus objection they hit you with—you’ve now cut to the heart of what the Straight Line System is all about, which is: pushing aside all the stalls and smoke screens (that cause the average salesperson to plunge into a rapport-breaking death spiral) so you get to the heart of what’s really holding your prospect back, which is either a lack of certainty for one of the Three Tens, an extremely high action threshold, or a very low pain threshold. That’s it.” ( :130)

“”Wait a second, Bill: you mean to tell me that if I put you into Union Carbide at 7 and took you out at 32, and I put you into U.S. Steel at 16 and took you out at 41, and I put you into Facebook at 70 and took you out at 130, then you wouldn’t be saying, ‘Pick me up at least a few thousand shares of Microsoft right now, on the spot, come on’?”” ( :130)

“Well, believe it or not, it’s actually quite simple—thanks to the existence of an extremely powerful language pattern that takes its name from the only person who possesses an IQ of 65 yet has still managed to get himself invited to the White House on three separate occasions to accept various achievement awards—including one for engaging in Ping-Pong diplomacy with China.” ( :131)

“”My name is [your first and last name], and I’m a [your title] at [the name of your company], and I’ve been there for [actual number] years, and I pride myself on . . .”” ( :132)

“”And as far as my company goes . . .”” ( :132)

“”It’s really simple,” he said confidently. “Watch, I’ll show you!” And with that, he put the ball on a white plastic tee, and then he took his stance and proceeded to take a beautiful cut at the golf ball, one that would have easily sent it three hundred yards down the center of the fairway. However, when he showed me the head of the club, sure enough, there was the ball, stuck to the face of the club, as if it had been glued there.” ( :136)

“However, on that particular day, with his family stuck on the side of the road, 120 miles from home, with the sun going down and the temperature dropping, what do you think my father did? The answer is he went to the nearest gas station he could find and said to the owner: “I don’t care what it costs. I need you to fix my car right now!” The bottom line is that, at that very moment, the pain he was experiencing from the possibility of his family being in danger caused his action threshold to drop straight through the floor, and, just like that, he was transformed into one of the easiest buyers in the world.” ( :140)

 

FINAL THOUGHTS

 

“For example, if you worked selling TVs in an electronics store, then you could say to your prospect “So, what do you think? Is this what you’re looking for? Is this up your alley?” as opposed to saying “Does this TV make sense to you?” which sounds totally ridiculous.” ( :143)


Check out more book notes at How I Read 90 Books In The Past 2 Years By Reading 20 Pages A Day

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