As we see in the film's screenplay Jordan is teaching his guys client-management skills, in particular using an upcoming event to try to show that they're 'in the know' about what shares will do. If the share go up they'll claim that they're geniuses and if the shares go down they'll just blame the vagaries of the market.
Another day. With Stratton Oakmont signage visible in the b.g., Jordan is on speakerphone with a potential
CLIENT, the other Brokers listening in.
JORDAN: --and once Kodak settles the
lawsuit, institutions will be
permitted to buy their shares in
large blocks again. And when that
happens, which is any day now,
what do you think will happen to
the price of Kodak stock?
CLIENT (O.S.): It’ll go up?
JORDAN: Exactly. Which is why you should
pick up 5000 shares today, a
JORDAN: Then you lower your voice.
Jordan pitches the client, his voice lowered.
JORDAN : Believe me, sir, you will not be
Jordan stands before the Brokers.
JORDAN: Then you wait. Whoever speaks
first loses. At this point, where
are we in the sale? Chester?
CHESTER MING: About to close?
JORDAN: No, you sweet and sour douchebag!
We’re at the beginning of the
beginning! This is where the sale
starts. You as a salesman are
almost hoping he says no so you
can finally do your fucking job!
So what's with the silence? Jordan Belfort describes this technique in his Way of the Wolf: Straight Line Selling book.
"Bill, if you do even half as well as the rest of my clients in this program, the only problem you’re going to have is that you didn’t buy more. Sound fair enough?” And then you shut up and wait for a response.
In other words, if the prospect doesn’t quickly answer, don’t feel compelled to fill the conversational vacuum and start jabbering away and talking through your close.
You’re at that magic moment now, when, in perfect sequence, you’ve summed up the very best benefits, you’ve reduced the energy expenditure, you’ve lowered the action threshold, and you’ve asked for the order in just the right way, using your tri-tonal closing pattern.
So, be quiet and let the client answer!
If you do, you’ll find that about 75 percent of all the prospects who ultimately buy from you will do so right here.