{"id":133658,"date":"2020-10-02T12:42:05","date_gmt":"2020-10-02T10:42:05","guid":{"rendered":"https:\/\/gamestrategies.io\/blog\/7-secrets-of-negotiation-from-the-wolf-of-wall-street\/"},"modified":"2024-11-01T17:17:04","modified_gmt":"2024-11-01T16:17:04","slug":"7-secrets-of-negotiation-from-the-wolf-of-wall-street","status":"publish","type":"post","link":"https:\/\/gamestrategies.io\/en\/blog\/7-secrets-of-negotiation-from-the-wolf-of-wall-street\/","title":{"rendered":"7 secrets of negotiation from The Wolf of Wall Street"},"content":{"rendered":"

The film The Wolf of Wall Street focuses on the professional and personal life of Jordan Belfort, played by Leonardo DiCaprio, as a stockbroker and entrepreneur. And while Belfort isn\u2019t someone we should be modeling ourselves after, he does do some interesting things in all his wheelings and dealings that we can learn from. Let\u2019s look at 7 tips to have in mind during your negotiations<\/a>:<\/span><\/p>\n

1. Research before negotiating\u00a0<\/span><\/h2>\n

Preparing a proposal (and using what you find in your research) is one of the most important steps to getting deals that are beneficial to you as a negotiator.\u00a0<\/span><\/p>\n

In the film, it\u2019s crucial for Jordan Belfort to know his audience and position his company, Stratton Oakmont, as the sole solution to his billionaire clients\u2019 problems. Throughout the movie, we see how Stratton Oakmont negotiators research their clients\u2019 needs then deliver a specific proposal for how they can be addressed.<\/span><\/p>\n

2. Identify the other party’s interests<\/span><\/h2>\n

The research that you do beforehand will help you understand better what it is your clients need<\/a>. Ideally, you should know what they need better than they do. But, don\u2019t forget that during negotiations, plans usually fly out the window, so you must be prepared to be flexible in the moment. The ability to do this throughout the story is what sets Belfort out as a businessman.<\/span><\/p>\n

3. Outline a need\u00a0<\/span><\/h2>\n

One of the most memorable scenes in the movie is when Belfort has one of his associates \u201csell\u201d him a pen on the spot. Why? To demonstrate that if you want to persuade the other person, you have to create a perceived desire or need.<\/span><\/p>\n

Identify what the other person needs, either in the long term or the short, and focus on that.\u00a0 Put yourself in the other person’s shoes and show empathy and interest at all times. Give concrete examples of how to address their problem as well as why your solution is the best one to solve it. Doing this will dramatically improve the outcomes of your negotiations in the future.<\/span><\/p>\n

4. Have command over your body language<\/span><\/h2>\n

Having good body language is one of those tips that essentially applies to any business setting (or personal setting, for that matter). Throughout the movie, we see that the characters radiate confidence and NEVER:<\/span><\/p>\n