Watch and Learn: Sales Movies! The Boiler Room

Watch and Learn

Not all of these movies cast the sales profession in the best light. Few of them tie directly to the work we do today of engaging prospects and building relationships in the digital space. But as you watch these heralded classics, you’re bound to come away with some insight and food for thought.

At the very least, you’ll have a stomach full of popcorn and candy. Now there’s an easy sell.

The Boiler Room is a 2000 film that depicts the high-pressure environment of a brokerage firm that sells dubious stocks to unsuspecting investors. The movie is based on the real-life story of Stratton Oakmont, the firm that was involved in the infamous pump-and-dump scheme that defrauded millions of dollars from its clients. The film is not only a cautionary tale of the dark side of sales, but also a source of valuable lessons for anyone who wants to succeed in selling. 

Here are some of the sales lessons to learn from the movie The Boiler Room:

- Know your product inside and out. One of the first scenes in the movie shows the protagonist, Seth Davis, a college dropout who runs an illegal casino, being recruited by a senior broker, Jim Young, to join his firm. Jim gives Seth a script to memorize and practice, which contains all the information and benefits of the stocks that they are selling. He tells Seth to learn everything about the companies, their products, their competitors, and their financials. He also tells him to use jargon and technical terms to sound more credible and authoritative. Knowing your product inside and out is essential for any salesperson, as it allows you to answer any questions or objections that your prospects may have, and to position your product as the best solution for their needs.

- Build rapport and trust with your prospects. Another scene in the movie shows Seth making his first cold call to a potential investor, Harry Reynard, a doctor who is skeptical about investing in stocks. Seth uses various techniques to build rapport and trust with Harry, such as mirroring his tone and language, complimenting him on his profession, asking open-ended questions, and finding common ground. He also uses social proof and scarcity to persuade Harry to buy the stock, by telling him that other doctors have invested in it, and that there is a limited supply available. Building rapport and trust with your prospects is crucial for any salesperson, as it allows you to establish a relationship with them, understand their pain points and goals, and influence their decision-making process.

- Always ask for the sale. The most memorable scene in the movie is when Seth closes his first deal with Harry, after overcoming several objections and challenges. Seth uses a powerful closing technique called the assumptive close, which involves acting as if the prospect has already agreed to buy the product, and asking for details such as payment method, delivery address, or contract signature. He also uses urgency and fear of missing out to motivate Harry to act fast, by telling him that the stock price is about to skyrocket, and that he will regret it if he misses this opportunity. He also uses positive reinforcement and validation to make Harry feel good about his decision, by congratulating him on his purchase, and telling him that he has made a smart move. Always asking for the sale is vital for any salesperson, as it allows you to move the prospect from interest to action, and to secure the deal.

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