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When I saw the Wolf of Wall Street by Leonardo di Caprio, I thought it was weird to find somebody who achieves a multimillion fortune by starting a company that basically makes phone calls to people and tries to sell them stock.
I've never worked in such a company, but I guess 99.9 per cent of people who get a phone call at their homes and find some salesman at the other end of the line just hung up.
Of course you can make money, otherwise there would be no such companies, but is it realistic to display the level of wealth portrayed at that movie?
Most people with stock brokers or financial advisors have only met them in person a couple of times. Finance is still largely done over the telephone. The Wolf of Wall Street was about a penny stock scammer. That's out on the far fringe of finance. In more mainstream finance, the person with the money they want to invest is the one initiating the first contact. Once they have that relationship, their finance guy will call them periodically as the normal part of doing business and maintaining the relationship. I manage my mom's finances. She had everything with one of the big finance outfits. If I see that finance guy's name on my CallerID, I'm going to answer the call or at least fire off an email suggesting a better time to talk if I'm busy.
When I saw the Wolf of Wall Street by Leonardo di Caprio, I thought it was weird to find somebody who achieves a multimillion fortune by starting a company that basically makes phone calls to people and tries to sell them stock.
I've never worked in such a company, but I guess 99.9 per cent of people who get a phone call at their homes and find some salesman at the other end of the line just hung up.
Of course you can make money, otherwise there would be no such companies, but is it realistic to display the level of wealth portrayed at that movie?
It's called a boiler room operation. They mostly target the elderly who can be broken down more easily by high-pressure tactics.
If you add internet to that phone, yes, you can become extremely wealthy. Figure out the right thing to sell, set up an attractive website and off you go, on your way towards that yacht in the Bahamas.
You could even make money without cheating people, which was what the Wolf of Wall Street was doing.
The telemarketers must be making money or they would stop doing it, and they certainly aren't stopping..
When I was younger I received some calls from boiler rooms hyping "hot penny stocks". I have no idea how they got my number. I listened to a couple of the pitches but never bought any.
I wonder if the "boiler rooms" are still around. I wouldn't buy a stock from any salesman.
In my book, I'll tell you about how I achieved wealth for the next few generations of my family by using my cellphone from home.
It's only $49.99 +S&H.
But if you buy within the next 30 minutes...it's only 4 easy payments of $9.99!!!
The only mistake you'll make today is not buying two.
I have encountered numerous people who got caught up the get rich quick schemes, from MLM sales to the books and even the motivational speakers. They spent thier time planning on world travel, champagne, and lighting expensive cigars with $100 bills that were lit on fire. Not one made a dime. Its a huge industry, those who invest in the best case scenario make only a few dollars. A sucker is born every minute is right.
Escaping the daily grind on a million dollar yacht is not a reality for the vast majority of people. Better off investing in farmland and off the grid things, living a simple life. More have done this successfully then the get rich quackery.
It's possible to be a crime fighting vigilante billionaire, TV represents reality. Maybe if you look at sun enough you can shoot beams from eyes and fly too.
You can make a lot of money calling people or talking to people face to face. Some may never become Millionaires or Billionaires but they can be very well off. You just have to make enough contacts. It's all a numbers game. Many successful people I know in sales, that's all they do. Talk to people every single day about what they have to offer. It doesn't matter if they are selling cars, houses, insurance, investments, solar panels, ADT, or some kind of health drinks.
Now, if you don't have a high income product, you'll just have to have a large sales force to do exactly that too. If you have a high income product, it takes less amount of people to do it.
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