Is this the best sales call? | Jordan Belfort The Wolf of Wall Street

Jordan Belfort, one of the most famous and influential salespeople of all time. In today's video, I'm going to be breaking down a sales call of him selling a dairy farmer into a Forex hedging program, I believe by Goldman Sachs or one of the main banks. Now this is an experiment where Jordan doesn't know that he's being filmed. It's designed to kind of have a look at the efficacy of different sales styles in a corporate environment. He doesn't know he's being filmed and the CEO has to say no, but he somehow manages to actually get the sale out of it. So, so today I'm going to break it down, kind of maybe have a look at some of the tactics and strategies that he's using and then kind of give my 2 cents on what I think he could have done better or when I think he done really well.

Hey, how are you? Nice to meet you.

Nice to meet you.

Thanks for taking the meeting.

Thanks for coming in.

Great. Having a good day.

So, so far so good. Yeah, so good.

Sorry.

One thing that you'll immediately notice is that he's very relaxed. He's sitting back in his chair. Nice to meet you. You know, kind of doing the Jordan Belfort thing, but extremely relaxed, sort of, and knows exactly what he's doing. They intentionally had the CEO show up late to try and fluster him and shorten the 45 minute meeting into a 20 minute meeting. So.

Perfect. So real quick, I mean, I guess the way I usually work, they kind of want to know about you, your company, what kind of challenges are facing right now, what's right in your business, what's wrong with your business. And based on that, what we do here at LMK is we kind of tailor make our strategies directly suit our clients needs. We have three areas of excellence. We focus on capital markets, hedging strategies, commodities, hedging. Buy into your bit.

Okay, so swayed away straight away. What he's doing is he's setting the frame and the expectations of the call. I don't like going into what we do best straight away, but I think the rest of it was pretty much spot on as to how to get someone to kind of open up and start the call quickly there. Like if you notice, there was no how was the weather, there was no chit chat at all. It was straight into business. Which I think is an important thing to learn for a lot of sales reps because people just waffle too much.

The investment bank, meaning if you're looking to go public, raise Any money for specific projects, both foreign and domestic. And lastly, of course, asset management, your land, your trucks, and trying to maximize your value there. But again, that's just broad areas. I look to each client kind of as a unique situation and try to kind of tail that in. So if you had to say one thing right now in your business that was kind of like giving you the most problem, what would it be in terms of growth? Like, you know, stopping you from growing as fast as you could?

Probably uncertainty around China. We're a business that's really got its history very much rooted in Australia. We've had some experience in Singapore and Hong Kong. China's really unknown to us. And that does keep me awake at.

Night a little bit in the sense of that obviously to fill the demand that you have to kind of grow a certain amount of.

It's a mistake there. So assuming something the CEO said, that's something that keeps me awake at night, I would have then probed and clarified a little bit deeper, probably even before he said that, and be like, that's a real unknown for us. I would have said an unknown, something like that, just to get the guy to go deeper because that's clearly a pain point for him. So if you're going to have a short period of time, you need to attack pain points like that very quickly and decisively and then let him use his words instead of putting your words.

Into him and then milk. And then you're not sure if they're going to buy or not. So there's an issue of overproduction versus making sure they're going to buy at the end of the day. Is that what it is?

Yeah, there's that. And I guess the question over setting up facilities in China.

So when someone says yes and that, it means that what you just said was total garbage and that that's not the problem at all. So that by doing that he made a mistake because now the guy feels like he maybe isn't being listened to or he has to explain himself. Whereas Jordan clearly knows the product here, he's clearly done the research on the client. He should have just probed Clarif, let the person answer that and then go down the pathway whether we can continue.

To do it out in Australia. You know, I believe we do need to set up some facilities in China that requires capital.

You have nothing there right now at all? No. Okay. And have you investigated opening up anything at all in China right now? Are particularly in the early stages of it?

Oh, no, look, it's been something I'VE been mean to talk to my banker about. We've kind of discussed around the edges before, but you know, we haven't really talked about it in depth.

But let me ask you a question. I was doing some more research on the industry and one of the things that stuck out is that in fact there's still a massive growth potential for you here domestically in Australia. Right. You're really scratching the surface. Domestically you have a good market share, but obviously the market's growing here pretty much 15, 16% a year. So you're also kind of building the current market share as well.

Absolutely. We've certainly got strong customer relationships here in Australia.

It's a strange question. I think he's still fishing for the problem that he knows he can solve because I think he probably has a particular agenda of what he can do to get a deal quickly to get the account right. So I think he's a little bit fishing. I think he's already found it. Maybe he hasn't quite realized it yet. Jordan's a phenomenal salesperson, but I have the ability to armchair quarterback this so I can pause it and then think about it. Right. But I thought he was going to go into something like a two truth questions, which it sounds like things are going fairly well for you. Like why even look at investing in China instead of just going harder in the paint in Australia? Like that's the question that I would have phrased to him and like instead of asking him in the way that he did, I would have framed it in that way as to why do that instead of just doing this.

I think there's a lot of opportunities for growth here. I think we've got a unique opportunity in China because of our accreditation standards. And the Chinese are very. No, I think we might be the only Australian company that has it. So, you know, we could go very comfortably just focusing on Australia and that might be the, you know, might be the best parliament.

Sure.

But just the China opportunity just dangling.

Out there, I guess. Right. It's kind of like I do not just obviously the organics. I mean pretty much every business is called high tech, low tech. Yeah. Everyone's kind of trying to like this kind of, you know, this 900 pound gorilla in every conversation. And the idea, I guess the question, the challenge everyone faces, you know, we know we got to go there, there's a massive market there. But how do we get there in a way which is, which is basically risk averse but allows us kind of test the waters and if we hit it to kind of expand quickly and capitalize.

Yeah, yeah, you're right. Yeah. And the risk thing for us is really important. I mean, while we've got some ambitious plans, we don't want to take up too much risk.

What he's doing really well here is he's like effortlessly steering the conversation towards areas that he's interested in and he's like on extremely equal footing and status plane to the CEO of a very, very large dairy corporation. This is a very large company. So like his ability to kind of navigate that large B2B space with ease and flair and charisma is extremely good.

No, makes sense in terms of you, where do you fit in with the company in terms of what's your like, you know, what's your kind of division of responsibilities? Do you manage the entire community or how does it work?

Yeah, so I'm major shareholder of the company and I manage the operations day to day. So I'm very hands on the operational side.

How about the brothers, the guys that they. Those are two.

That's an interesting way to say are you the guy that I should be talking to who can pay me the money or are you the guy who's just going to get me to the guy, pay me the money? So that was a strategic question on his behalf to figure out where he takes this call and what his desired outcome is. His desired outcome now is to get the sale, close the deal instead of trying to get to the next person.

He's quite involved, but probably not quite as involved as I am. He looks after some more of the marketing and sales elements.

Right.

And then my father still has an active role in an advisory sense and a minor shareholder, but it's, you know, mainly operationally run by myself.

Got it. How about the actual. Do you have a CFO that reports to you or we have a business.

Manager and you know, he's, he looks after a lot.

So that in NEPQ terms what he's just asked is help me understand the decision making process of the business when it comes to X, which I think is a far more eloquent way of doing it the way than he's doing it. But it's getting the job done and he's doing it very conversationally. So it just sounds very curious. Oh, do you guys have a cfo? Because like if they have a cfo, that guy has to be there because like you're not going to pull the trigger. Especially on forex stuff, which is where he kind of wants to take this like hedging. That's a CFO's call at the end.

Of the day, answers like the accounting and that sort of thing. So I guess he's like a cfo.

Right. So now you're basically fully integrated in the sense that you're your own farms. Right. You're actually growing the stuff, processing it and then shipping it out.

That's right.

This China or distributed domestically? Yep. And would your plan be. If you were gonna. In China. Let's talk to China for a second. Because I personally think that's a massive market. I'm a big believer in the China story going forward. Okay, so would you be looking to develop the products here and then ship in there raw and cross them in China or actually have land in China and grow them in China?

The hard thing with organic products, especially the dairy and the in industries, that because we can't use as many preservatives, it's harder to keep them for longer, they perish quicker. So we have a disadvantage, I guess, if we, if we don't, I believe if we don't move some of our facilities to China and we'd certainly be able to get fresher products, and we are about fresh products by having some facilities over there. But then there's, you know, we're not familiar with that land. It'll take a bit of time. You've got the experience curve over there. So, you know, there's some, there are some natural advantages to thing there, but there's also some disadvantages.

Right. Let me ask you a question. Have you guys considered actually trying to partner up with someone to purchase an existing small producer organics in China and kind of then use your technology this way? You need to have sort of a stable foothold already there and then grow their business versus trying to start from scratch at all. Look at.

I've certainly played with the idea, very cautious about it, just because we're a family business. Build a lot on trust.

I'm not quite sure why he would ask that question, but he might have an agenda that I don't know about. Like they might have already lined that up for them, but I don't, I don't know from a strategic rather than a curiosity standpoint. And like he's too good at sales to ask something on pure curiosity.

So organic companies don't tend to collaborate all that well. They tend to kind of keep a lot of their secrets themselves. But I mean, I'm not close to the idea, but I just have some reservations.

I mean, the reason I say is because, you know, one of the things that we do, we specialize in is, you know, as a group global merchant banker. We have strategic alliances all over the world, and especially in China. Yeah. So one of the things we could do is actually introduce you to kind of various people along every element of the supply chain, whether it's simply purchasing an organic, you know, you know, concern or simply, you know, getting you in touch with the right people for trucking.

It's interesting. Like, he's still fishing for what he can sell, this guy. He hasn't quite figured it out yet. So he's kind of doing a little bit of, like, this is a really tough sales environment because, like, if it's come in to be like a sort of a meet and greet, but he's trying to kind of get something done. And they've had from seems to be pretty minimal background sort of conversations. This is a very difficult way to do it. So he's trying to do the exploratory discovery phases and everything in a very short period of time when he doesn't have a lot of context as to what the person needs because he represents a very large company, lmk, that like, obviously provides a shitload of different things. So it's a difficult thing for a salesperson to be when you haven't got a really honed in very specific product.

To sell for any part of production and of course, distribution. So kind of to help you there, you know, just to kind of put you in touch with the right people operationally if that would help you kind of make a decision, at least give you more of a knowledge base to what you really need to do to get yourself into China without, you know, kind of stumbling, falling on your face.

Look, I mean, networks like that will obviously be useful. This idea of getting into a partnership with another company, I'm not sure. I mean, is that sort of thing, you think?

No, I mean, listen, here's what I do. I'm a believer. And you weigh all your options. Right. I totally get that. Like, there's a certain culture that made you guys what you are. Right. And one of the great risks about China is it's a very different culture. Okay. So there's two issues that you face when you go to China. Number one, okay. Yet to see, well, is my culture going to play well in that country? Because something that just work here don't work well in China. Right. The other thing is, yes, my culture, in fact, will work well in China. But there's some sort of, like, disconnect. Must be what you. The way you think you're saying it to them and the way they're perceiving it. So it's important, whatever you do. What I would recommend, whether you want to control every last ounce of the supply chain, you need to have local Chinese people there who know the market, who know the people, who know the kind of the social demeanor there to make sure that the message that is been so successful.

Just an example of like, pure confidence selling like that dude is just like, I don't. His tactic, I don't think is particularly good here. He should have asked questions that got that guy to tell him all of that. And I think he could have done it in the same time frame is literally telling it, because telling people things is. I don't know, in my opinion, doesn't hold a lot of weight. But when you get people to tell you stuff, then. Because everything I say is garbage, everything they say is gospel. So I think, like, I mean, he's trying to do it quick, I get it, but it's just he's so effortlessly good at talking to people, and he comes off as so confident. I. I can see why people buy off him. You know, like they're. They're buying him essentially because he is like that charismatic and confident when he, when he talks.

Australia gets out in China. Does that make sense, dude?

Yeah, it does. What do you think would be some of the cultural barriers for him?

See that. See, I now became like a bit of an expert. It's a little bit of a flash role. He's really confident, and now it's like, oh, tell me, like, like, what do you think? So he's becoming a trusted authority by. By exuding how much he knows about the marketplace. Very difficult style to emulate because if you're not as charismatic and you're not as well versed in the industry as what he is. Like, you don't have as much tech knowledge and you can't speak to a CEO on that kind of level. Very, very difficult to doubt, emulate. And he comes off as so confident. I. I can see why people buy off him. You know, like, they're. They're buying him essentially because he is like that charismatic and confident when he, when he talks.

I think that, number one, you know, it used to be like that China had this whole big, like, you know, the sage white man. You know, we want to know what the white man is doing. That was a, you know, big thing that when they felt like they were behind, now there's been like, almost a tip where they felt they had the emerging dominant Power. And it's like they are the wise ones and they know it all. So yet they in truth know, of course, they don't know everything. Right. So there's a sort of cultural gap of you being able to educate them, but at the same time making them think it's their own idea. Like, it's like giving them the facts and they come to the conclusion you wanted them to come to in the first place. And it just, it doesn't happen so much. It doesn't do much with like production or marketing. Okay. As you guys know, you're not just producers, you're marketers.

Okay.

So you have kind of those elements of that. That equation wrapped up now, again, like, obviously I'm a banker, I'm not in the organic food business. But one thing I do know is there are certain core distinctions that run through every industry. Whether it's your industry, whether it's computers, you know, whether you're selling automobiles. Okay. So what we try to do, again, we.

We have a client like you, it's pre handling objections. That's what he's doing there. You know, you guys are a really big bank. You know, you don't deal in our industry specifically, like, how are you going to attend to our needs? So he's kind of like. And getting that aside is like, you don't need to worry about that. Like, there are, there are through lines that run through all business.

Don't look at things, you know, just, you know, hey, they're organic. That's a separate. It's something that are global, like, versus Mary Donald, you know, Right. One of the things we did for Mary is we're able to save her a tremendous amount of money domestically and overseas on our commodities hedging. Okay. And on some of our currency swaps that she was doing. And the ways we did that is.

Because, by the way, commodities hedging is an insane practice. Like, I'll buy a shitload of corn at this price and I'll sell it at this price. What crazy stuff.

There are certain peculiarities in her industry, but at the same time, there were also some commonalities that apply to all this piece. We're able to come up with a model that directly suited her needs that would address. She has not exact similar concerns in the sense that she produces two a little different in a different industry. But she's producing not sure what she's going to sell. So it's important that she actually has access to her supply chain. But it's not. Doesn't end up stuck with three, two months of inventory. Right. Which is even worse for you because it's perishable. Right. But I guess you're what you need to kind of ultra adjust in time inventory strategies. Right. To drive yourself to market. So I think for you if I like listen, I know over the long term we could do a lot of stuff for you, but I think I could best serve you by just starting off doing one thing for you. Okay.

Beautiful. Never try and close two deals at once. Always try and get one deal at a time. It's a really bad habit of people in the B2B space where they try and get multiple deals done. You're always best going the lowest hanging fruit, the easiest problem to solve to get the fastest possible win to get the relationship and then you can upsell later. I've seen heaps of deals fall through because they over complicated by trying to sell two or three things. It's one thing that Marco used to be really bad for. I used to be on a call and he would try and sell this, this, this and I stop one thing. So yeah, like very, very good strategy.

Let me just start and try to do one thing for you really, really well. Like I don't want to interfere what you do with Titan. I'm sure they're great and everything. I know they're very good, reputable company, respect them. But we specifying in something a little bit different. One of the first things I'd love to try is t he's pitching, you.

Know, so he's transitioned. He feels like he has enough to be able to like get a deal done. So I think where he can show enough value to start the relationship. Because the way that these banks work is like they start with one thing and then they just add, add, add, add, add until like they're completely entrenched in the business.

Look at exactly what you're doing with your, with your commodities, the hedging strategies and the cards you sell with the stuff you're doing. Bolton stuff, Singapore, Hong Kong and China. Yeah. Okay. And I want to get in there right away, straight away. And I want to go in there and give me a shot to be. Let me work. Give me 30 days. I'll do my trade small. Start small. Don't stop what you're doing. Put a small amount of your trades through me and then analyze in 30 days the percentage gain and I'm even half as good as I say. I believe you'll be moving all your business over to me after that.

Fair enough. Classic.

Well, I mean I'M not particularly worried about where we're at in that space.

What particularly would you want to be doing? Well, let me ask you a question. First of all, does the overall idea in terms of, you know, of us advising, not just in one area, all areas make sense to you, that it could be an asset over the loan? Does that appeal to you?

Sweet. So what he's done there is he's like, well, don't worry about the specifics, but in general, do you feel like we can help you? And he's like, well, yeah, so now he's going to get a series of little tiny buy ins.

Well, I guess it certainly does. It just depends on, you know, what it's going to cost us.

Right, exactly. You know, and of course, of course, always the end comes down to it. But it's not just so much cost, also the value you get from the cost. Right. But one of the things we pride ourselves on, okay, just, you know, it's a company. The true beauty of what we do is that every transaction that we do here, okay, we're looking always at two things. A, to keep costs down as much as possible. Anything brokerage, hedging, helping you purchase an asset you didn't think you could afford, helping you expand into a new market, going public perhaps. Okay. Getting a bridge loan in a foreign market. Of course we always look at cost, okay. But we also look at three to five years down the road, okay. Because sometimes the cheapest money is not the best money. So of course we'll lay both options out to you. I'll say, listen, you can do it this way and save yourself, you know, three basis points or you can maybe pay two basis points more, but you'll be in alignment with the top people in China. Okay. That'll be more flexible with terms and also allow you to grow a facility, let you grow to where exactly? They don't like be a $50 million company forever, obviously want to be a $250 million company. So we look at both the short term panel. Does that make sense to you? Do you like that?

Look, in theory it sounds good, but I mean, you know, at the end of the day it sounds like you deal with a lot of big companies.

He's already prefabed us.

We're not a huge company. We're.

It's a pretty simple business model actually. So I'm just wondering if it's all a bit too, too much or too complex for us.

Right, right.

We've run it pretty successfully in the past by following a pretty simple Model, Right. So yeah, I'm just not sure.

Let me say this. I hear what you're saying. Australia gets out in China. Does that make sense, dude?

Yeah, it does. What do you think would be some of the cultural barriers for a business?

Like, see that? See now he became like a bit of an expert. It's a little bit of a flash role. He's really confident and now it's like, oh, tell me, like, what do you think? So he's, he's becoming a trusted authority by exuding how much he knows about the marketplace. Very difficult style to emulate because if you're not as charismatic and you're not as well versed in the industry as what he is, like you don't have as much tech knowledge and you can't speak to a CEO on that kind of level. Very, very difficult to emulate.

I think that, number one, it used to be like that China had this whole big like the sage white man. They know we want to know what the white man is doing. That was a big thing that when they felt like they were behind, now there's been like almost a tip where they felt they're the emerging dominant power and it's like they are the wise ones and they know it all. So yet they in truth know, of course they don't know everything, right? So there's a sort of cultural gap of you being able to educate them, but at the same time making them think it's their own idea, like I said, giving them the facts so they come to the conclusion you wanted them to come through in the first place. And it just, it doesn't happen so much. It doesn't do much with like production or marketing. Okay. As you guys know, you're not just producers, you're marketers.

Okay.

So you got kind of both elements of that, that equation wrapped up. Now again, like, obviously I'm a banker, I'm not in the organic food business. But one thing I do know is there are certain core distinctions that run through every industry. And I like to find myself on being a guy that takes medium sized companies and turns into, into big companies and that's really how we make our money. You know, all big companies once were medium sized, once small companies, right? The same dynamics that apply to a business at your size. There's no difference.

Think like he knows what he's doing, he knows where he's going. He's got a system, it's called the straight line system, Straight line persuasion. And he's using it, he's dealing with it. He's already pre handled a few of these objections, so, like, they're easier to overcome, but he is doing it in a way where he's not flustered by it at all. So, like, listen, there's more, there is a 100% more eloquent ways of doing this. Like, I guess the difference between him and like a Jeremy is that Jeremy's like a figure skater. Like, it's just beautiful to watch. It's just seamless. And he's a, you know, he's a hockey player. Like, he gets, he's good at skating, don't get me wrong. And he can knock people over, but it's not going to be quite as.

Precise whether it's your industry, whether it's computers, whether he's selling automobiles. Okay, so what we try to do, again, we have a client like you.

It'S Pre handling objections. That's what he's doing there. You guys are a really big bank. You don't deal in our industry specifically. How are you going to attend to our needs? So he's kind of like getting that aside. It's like, you don't need to worry about that. There are through lines that run through all business.

Don't look at things, just, hey, they're organic. That's a separate. It's some things that are global versus Mary Donovan, you know? Right. One of the things we did for Mary is we're able to save her a tremendous amount of money domestically and overseas on our commodities. Hedging vice.

As someone who does it like really, really eloquently, but man, this is a. To be able to do this like in real time, this quickly after such a short discovery and, you know, and such a short presentation on what would be a relatively big deal to come in and start doing for a company. This is a masterclass of how to.

Do this 50 million or $500 million company. It's a different way of thinking and I think in some levels. Listen, I know, listen. That's why I said to you, I'm not looking to interfere with relationships that you have right now.

Because I think you can tell right away by the guy's tonality, like the fact that his dad is still on the board, his brothers are involved. They haven't got a full time cfo. They've got like. He could tell just by listening that guy's voice, you can tell he's not a killer. Right? Like that CEO is not a killer. So the way that he's done this is quite clever. Where he structured it to where like he just wants a tiny in. That's all he needs. Because with this guy, he knows straight away like this, this is not a moonshot CEO. This is not the guy who's like, let's grow it to 500 million tomorrow because that's a different sale. This guy's like, no, no, no. I'd be happy with 3% growth every year for the next 20 years, right? Like, fantastic. So he has to get in. That's, that's the thing he needs to do. So identifying that early and then going, no, no, no, I don't want you to stop doing what you're doing. Let's not introduce any chaos or unknowns for you. I just want this little thing, you know, just the tip, just for a minute. Let's just see how it feels, right?

A smart business person, you guys obviously smart. You know what you do well, right? To throw the baby out of the backwater. He would ditch her. That's why I like him as saying, fire this guy. We want to wait. I don't want that, okay? What I want to be is the guy I don't want to be that took you from 0 to 50. I have those people. I want to be the guy that takes you from 50 to 500 million. Okay. In that area, I know I could be a major asset to you because we can do a few. Besides, you know, any one trade in commodities and that's over the long term in the way of taking you public value bond financing and notes that you need for, you know, overseas transactions. We can be an asset to your company owns with long term. And I just personally just, you know, do that myself. You know, I pride myself on, on, you know, holding my clients hands every step of the way. You know, I guess, you know, from Mary, only on referral. You know, I'm not a cold calling machine, okay? It's all long term relationship.

Used to be a cold calling machine.

And I know this. I'm gonna be judged basically on one trade. If I say, hey, let's do some business together, give me a shot for 30 days and I'm wrong and I stink, you'll fire me as your, as one of your bro. We'll never speak again. We'll shake hands, you know, hey, you know, didn't work and that's that, right? And just so you know, my commission on 30 days of business, and this is, I just put the firm in the government. I can't take myself a lunch in Australia. I'm not getting rich, okay? But I know this. If you could do for you in one month, just small. You're not going to get rich or poor, but the percentage gain, okay, you'll see. You have a broker that was going to work for you, harder for you, more diligent than anyone ever has. And all I ask is that then down the road, when I really kind of get into your business and see the bigger opportunities, you give me a shot. Bigger and better down the road.

Fair enough.

Fair enough.

Fair enough.

What do you think is possible?

You're starting to get it. Turning the tide, isn't it?

Percentage savings, in other words. Listen, let me ask you a question right now. How much are you currently hedging on a monthly basis? Right now? Not sure.

On a monthly basis, we're about 77% of our 70. Mid 70% of our debt is unhedged.

Okay.

So I think that means about 20.

And on some of her currency swaps that she was doing. And the reason we did that is.

Because, by the way, commodities hedging is an insane practice. Like I'll buy a shitload of corn at this price and I'll sell it at this price. What crazy stuff.

There are certain peculiarities in our industry, but at the same time, there are also some commonalities that applied to all industries. We're able to come up with a model that directly suited her needs that would address. She has similar, not exact similar concerns in the sense that she produces too. A little different in different industry, but she's producing. Not sure what she's going to sell. So it's important that she actually has access to her supply chain. But it's not. Doesn't end up stuck with two months of inventory. Right. Which is even worse for you because it's perishable. Right. But I guess you're what you need to kind of ultra adjust in time.

22 million of overall debt is hedged.

22 million is. Is hedged annually. Yeah. Okay, so you have about 20 million. That's. Yeah, about how. So you said how much unhedged? About 70% is hedged. No.

Unhed, unhed. Yeah.

Okay. It's about 20. 22 million is hedge.

Yes, that's correct.

Okay, great. Okay, so you have about 35 or 40 million on hedge. Correct?

About 150 million. That's out here. No, we're gonna.

In terms of our debt, what's the revenue? What's our revenue talking to cover revenue?

So this year just gone 27 million.

Okay. Right. So here's the thing. See, I look at that just so you know, okay. One of the things that a lot of people overlook is that the day to day foreign currency exchanges that occur between what you're doing.

I think, I think he's flipped it. I think he's officially flipped the script, as Oren Clough would say, where this guy is like, what, I need help. What's happening here? So it's interesting to watch in real time this kind of unravel and the CEO go from like, well, you know, it kind of sounds like he's now leaning in and Belfort's now leaning out to where, like he can probably play with him a little bit here. I would play with him here if it was me. I'd start going into consequence and stuff.

Like that when it comes back to here and vice versa. Singapore, Hong Kong, the biggest, I wouldn't say fraud, but let's see, the biggest way for you to get clipped as a business man is in the foreign currency markets. It's like it's the wild west there. Okay?

Yeah, we get, we got rolled in foreign currency like we were losing 20 odd thousand a month in foreign currency until we fixed it.

So we do okay is we add. Actually we'll sit you with cost of money. In other words, we don't mock up our trades. We're gonna basically buy and sell your money for you on the exchange in real time. Okay? And the amount of money that saves for you, percentage wise, is staggering. Now again, I'm not saying you're gonna make 10 million extra on your bottom line, but what it will show you on a very riskless way, it allows me to show you that when you say, hey, I'm doing it this way right now, and this guy came in with a very small transaction and showed me I could save literally 30 or 40% more, you know, annually on this amount of money, that just shows you I'm a guy that knows what I'm doing. And after that, once I kind of earned your trust, then let's kind of talk bigger and better where I could really save you bigger money down the road. We could use that as a benchmark future business. All I'm asking for is this. Fair enough, one shot. Okay, let me just run 30 days edging your money, show you how you can kind of.

He's always going back to the same thing. One shot, 30 days, hedge your money, no risk. Fair enough. Like it's the same thing. Like that's his value proposition that he's bringing. He's like, man, this is a small decision. You just have to make one small decision. And earlier up, he set up the fact that the people who get from 0 to 50 million think differently than people who get from 500 then 50 to 100 million. It's a different way of thinking. Right. So he's got that in his back pocket if he needs to keep going.

Application to currency markets here in a more effective, elegant way and believe you'll be very, very impressed.

It sounds promising. I guess I'm just a little bit cautious. I don't know about your company, I don't know if you know this, but the farming industry is built very heavily on trust and loyalty. The banking relationship I have now has been built up over many years plus leveraging through the family. You know, farmers get involved with banks, new banks and new organizations and they're with and through the good times and then they efficient during the bad times. So I don't know anything about you guys.

Let me ask you a question. Honestly, if I've been your broker for the last three or four years, making you guys money at a consistent basis, I mean, let's say I ran a couple years of hedging strategies for you, did some bond offerings for you, and kind of just did everything. Exactly.

So trust objections. This is interesting.

You probably wouldn't be saying, let me think about it. You say, you say, jordan, just take over, take over the hedging. Am I right about that?

If we had a relationship yet, of.

Course I get that. You don't know me and I don't have the track record. So let me just reintroduce myself to you a little bit. Telling about myself what I stand for again. My name's Jordan Belfort and I've been with LMK for about six years now. Okay. And I'm one of the top salesmen at the company. And I am a salesman, by the way. I pride myself on actually going out there and going after the people that I know I can help. Okay. But one thing I do do is I put my clients needs above everything else. And I work literally round the clock tirelessly. I'm not an analyst, I'm not an investment banker. Okay. But I literally will go at it like I'm like a researcher of these people. And I will find the absolute best person.

He's not allowed to be an investment banker.

Three areas of excellence.

SEC wouldn't allow him to, I wouldn't think, these days, right?

Banking, finance and asset management. Right. I would literally go and comb a 3,500 employees to find the exact person that knows your business well, the exact program that best fits your needs. And then keep it simple. You know, I'm here to not just put you into any program but to hold your stand hand every step of the way, guide you in, guide you out, a phone call away. And as far as LMK goes again, you know, long term relationships, that's all we've been building. We're I think the oldest or second oldest merchant bank in all of Australia in business since 1886. So obviously we didn't get to where we are by burning our clients. Okay. And we didn't get there by working on 15 or 30 day trials here. Okay. And then saying see you later. Obviously you know, we have earned our clients inventory strategies. Right. To drive yourself to market. So I think for you if I like listen, I know over the long term we could do a lot of stuff for you, but I think I could best serve you by just starting off doing one thing for you.

Beautiful. Never try and close two deals at once. Always try and get one deal at a time. It's a really bad habit of people in the B2B space where they try and get multiple deals done. You're always best going the lowest hanging fruit, the easiest problem to solve to get the fastest possible win to get the relationship and then you can upsell later. I've seen heaps of deals fall through because they over complicated by trying to sell two or three things. It's one thing that Marco used to be really bad for. I used to be on a call and he would try and sell this, this, this and I'd be like ah, stop one thing. So yeah, like very, very good strategy.

Let me just start and try to do one thing for you really, really well. Like I don't want to interfere what you do with Titan. I'm sure they're great. Everything I know they're a very good reputable company, respect them. But we specifying and something a little bit different and one of the first things I'd love to try, he's pitching.

You know, so he's transitioned. He feels like he has enough to be able to like get a deal done. So I think where he can show enough value to start the relationship because the way that these banks work is like they start with one thing and then they just add, add, add, add, add until like they're completely entrenched in the business.

Look at exactly what you're doing with your, with your commodities, the hedging strategies and the currency stuff. With this stuff you're doing both in Singapore, Hong Kong and in China.

Yeah.

Okay. And I want to get in there right away, straight away, and I want to go in there and give me a shot to be. Let me work. Give me 30 days. I'll do my trade small, start small, don't stop what you're doing. Put a small amount of your trades through me, and then analyze in 30 days the percentage gain, and I'm even half as good as I say. I believe you'll be moving all your business over to after that.

Fair enough.

Fair enough.

Classic.

Well, I mean, I'm not particularly worried about where we're at in that space. What particularly would you want to be doing?

Well, let me ask you a question. First of all, the overall idea, by being right, by being diligent, by not risking their money. Okay. And by also being there.

I don't think this is a good way to do it, but it is.

It is.

It is effective. Right. The way that I would hand. The way that I handle trust objections is by going back to them and asking them questions. I don't just like to kind of. Kind of spew things at them. What he's saying is all correct, and I think it's a decent way of doing it, but I think there's more elegant ways where you can ask them about, well, what have you tried in the past? Like, where is that coming from? Help me understand. Like, in your mind, what would you like to see out of a relationship that you think that can go the distance? You know what I mean? What have you seen in the past that's gone poorly? Why did you think it's gone poorly? Well, like, all that kind of stuff. So I would like to explore that a little bit more because now he is on a time crunch because he knew he only had 20 minutes, so maybe he would have done that, but he just figured he didn't have time, so he just went for the hammer approach. But this is very much like a hammer when it comes to B2B, this is quite aggressive. Objection. Handling. You know, for B2C, this is nothing. But for B2B in this environment, he's going pretty hard in paint when there is a problem.

So again, all I'm asking for is this. I mean, let me put this here. What's the worst that could happen? Let's just say that I'm wrong, right? Let's say you give me a month. Okay. And the hedge, you know, we run 5 or $10 billion through a hedging strategy here. Okay. And let's say at the end of the day, you don't make any more money. Let's say you lose one basis point on the whole thing. I'm wrong. You say, Jordan, you know, you just pulled it, didn't work, and you fire me, Is that going to put you in the poor house as a company? Honestly?

Look, probably not. I don't have to see the numbers.

But it's not going to kill you. Right? Right. And on the upside, let's say I am right. I know I am. Okay. And I can show you a 25% return.

And you're like the lady in the background is actually assessing Jordan. He just doesn't know it. That's why she's writing stuff down and she's smiling because she's like a sales assessor. So she's. She's watching his. Watching him not listen to the conversation.

He's a surprise. This guy actually saved me, you know, $27,000 on a small amount of money. It's not going to make you the richest company in Australia, Right? Right. Not going to make you rich, not going to make you poor. What it will do, it will serve as a benchmark for future business. And then you'll know you have a guy that knows what he's doing. Okay?

It's a really good proposition. Really good proposition. Not going to make you rich, not going to make you poor. But what it will do is it'll give you a benchmark. So it's like, test me out, put me in the game, coach. In 1984, I could throw a ball over those mountains type thing. So I really like it. I think it's a good way to. Again, this CEO, you can just tell by his tonality and the questions that he's asking. Like, he's not, you know, I need to see the numbers. You should fucking know them, mate. Like, one basis point, it's nothing. One basis point is what point? 01%.

So work bigger and better down the road. So all I'm asking for again is this one shot. Give me 30 days.

Oh, you see the CEO in the corner lean in. You see that? You haven't seen him the whole time, and now he's leaning in. Jordan's position hasn't moved the whole time. He's. This hasn't moved the whole time. And he's been extremely calm. And now he's got this guy leaning in. I would say he's very close to closing that deal.

If I'm wrong, you fire me as your broker. Okay? But if I'm right, not only am I going to want you to do.

This guy's been told he has to say no.

By the way, some referrals too. That's my business truly grows. Does that sound fair enough? Give me a shot.

So, look, it sounds interesting. Here's my concern.

Okay.

You know, so we get into business, who else am I going to be dealing with? You're a big company. We're going to always get you each time. I mean, you know, bring another product specialist. You know, I know it's like with bigger banks. Again, preferred to keep that with a small relationship bank. I. I don't want that hassle.

I totally get that. And by the way, just, you know, if we have an interest. LMK is interesting for one sense, but we are a big bank, but we're not an ANZ or an nab where it's so ridiculous and impersonal. Okay. Where it's like, you know, a thousand faces in the customers. You call the recording up and like press one. Oh, yeah, we can call you between 12 and 1201. Right. You know it's not that. Right. We're a merchant bank and it's a bit different, which is more like a family banking model, which is why I really believe it fits so well with.

Linking family banking, like doing it that way and appealing to his. He said family business maybe like six or seven times. So he's using his language. Merchant banking is not family banking. It's just not commercial. It's just a different type of banking. It's the same.

Your business model, the organics. Right. Because we are an older line. You start off, in fact, in the cattle. We actually start off in commodities. That's why we, we built our business around commodities. And. And from there we went to batting as a result of the hedging. So that's why we're the number one company about hedging and commodities, which is why I teach the perfect bit. But in terms, just, you know, in terms of me, you'll only be dealing with me. And if you have to, if there's someone else I want you to meet, they'll be with me. In other words, if I say I can, guy who's like, has a new algorithm that's going to allow us to make an extra 7 basis points.

It's an interesting question for him to ask, will I only be dealing with you? It's basically saying, I only want to deal with you. Can you promise me I'll only be dealing with you? Because through.

He's.

He's clearly, he's clearly said that he is the expert without having to say it like he, he comes across as so knowledgeable and effortless that like people want to buy from him, you know.

A month on the term, I'm not going to say, hey, the guy's coming, I'll have him come with me. Or we can have dinner once, whatever it might be. But it's not going to be 30 faces. There's going to be me and only someone else. If I believe that person. Okay, can help with the conversation. But you only want to meet me. Hey, you know, we can just be the two of us. But again, all I'm asking for is this. I'm asking to get married right now. Okay. I believe in starting small because I know I can prove myself to you. If I was here saying to you.

I want lady in the background, can hardly contain herself. It's pretty funny.

This is fire Titan. Do this, do that. Right? You'd say, get the fuck out of here. Right? Okay, But I'm not saying that. What I'm saying is that I'm confident if you just see a little bit of what I could do, we can use that as a benchmark to go forward. So I'm getting one shot.

It's interesting, like, his body language has changed and it's almost like I think he realizes he's got him. So he's like becoming like the daddy energy, you know, he's. His tone is a little bit different. He's sitting forward, he's being more forceful with his language and being very direct.

30 days and believe me, you're gonna be a client for life. Sound fair enough?

Sound fair enough?

Sounds reasonable.

Perfect. So let's open up the account. Alright.

Alright. So there's Jordan Belfort selling. It's very, very interesting watching him kind of navigate that. And I think he did a phenomenal job. And again, I don't think Jordan is the most eloquent or thought out salesperson. I think he is. I think he is the perfect example of a natural salesperson. And when I think of someone who is like, if you think of like the Challenger sale as a model, which I don't really believe in as a model, however, if we use that, you've got like your different types of sales reps, one being your challenger, but the other being like your rogue, like your lone wolf, I think it's called. Right? And he is a lone wolf. You could ask him to sell in a system, he would not fill out the CRM, he would not do what you asked, but he would be one of your top producers all the time. Every time. And you're best just letting him do his thing. That's why, like having done the straight line persuasion course, I think it's a good course, but it lacks nuance. I think it's a good. Listen, having a system is better than having no system. Like that's just the way it is. So if you don't have anything and you did the straight line, I think you'd become better at sales because you're following a way of doing things. What I think though, it misses is the nuance and the granularity that is able to get someone to really, really good because he doesn't need it.

In terms of, you know, of us advising not just in one area, but all areas. Makes sense to you that it could be an asset over the loan. Does that appeal to you?

Sweet. So what he's done there is he's like, well, don't, don't worry about the specifics. But in general, do you feel like we can help you? And he's like, well, yeah, so now he's going to get a series of little tiny buy ins.

Well, I guess it certainly does. It just depends on, you know, what it's going to cost us.

Right, exactly. You know, and of course cost always in the end comes down to it. But it's not just so much cost, it's also the value you get from the cost. Right. But one of the things we pride ourselves on, okay, just so you know, this is a company. The true beauty of what we do is that every transaction that we do with you, okay, we're looking always at two things. A, to keep costs down as much as possible. Anything, whether it's brokerage, hedging, helping you purchase an asset you didn't think you could afford, helping you expand into a new market, going public perhaps. Okay. Getting a bridge loan in a foreign market, of course we always look at cost, okay. But we also look at three to five years down the road, okay. Because sometimes the cheapest money is not the best money. So of course we'll lay the options out to y', all say, listen, you can do it this way and save yourself, you know, three basis points or you can maybe pay two basis points more, but you'll be in alignment with the top people in China, okay. That'll be more flexible with terms and also allow you to grow a facility, let you grow to where exactly? This is only be a $50 million company forever. Obviously want to be a $250 million company. So we look at both the short term and long Term. Does that make sense to you? Do you like that?

Look, in theory it sounds good, but I mean, you know, at the end of the day, sounds like you deal with a lot of big companies.

He's already prefrinted.

We're not a huge company.

It's a pretty simple business model actually. So I'm just wondering if it's all a bit too much or too complex for us. We've run it pretty successfully in the past by following a pretty simple model. So. Yeah, I'm just not sure.

Let me say this, I hear what you're saying and I like to pride myself on being a guy that takes medium sized companies and turns them into big companies and that's really how we make our money. You know, all big companies once were medium sized one small companies. Right. The same dynamics that apply to a business at your size. There's no difference.

Think like he knows what he's doing, he knows where he's going. He's got a system, it's called the straight line system. Straight line persuasion. And he's using it, he's dealing with it. He's already pre handled a few of these objections so they're easier to overcome. But he is doing it in a way where he's not flustered by it at all. So like, listen, there's more, there is a 100% more eloquent ways of doing this. Like I guess the difference between him and like a Jeremy is that Jeremy's like a figure skater. Like it's just beautiful to watch. It's just seamless. And he's a, you know, he's a hockey player. Like he gets, he's good at skating, don't get me wrong. And he can knock people over, but it's not going to be quite as precise as someone who does it like really, really eloquently. But man, this is a. To be able to do this like in real time this quickly after such a short discovery and you know, and such a short presentation on what would be a relatively big deal to come in and start doing for a company. This is a master class of how.

To do this 50 million or $500 million company. It's a different way of thinking and I think in some levels. Listen, I know, listen to, that's why I said to you I'm not looking to interfere with relationships that you have right now because I think you can.

Tell right away by the guy's tonality. Like the fact that his dad is still on the board, his brothers are involved, they haven't got a full time cfo. They've got like, he could tell just by listening that guy's voice, you can tell he's not a killer, right? Like that CEO is not a killer. So the way that he's done this is quite clever where he structured it to where like he just wants a tiny in. That's all he needs. Because with this guy, he knows straight away like this, this is not a moonshot CEO. This is not the guy who's like, let's grow it to 500 million tomorrow. Because that's a different sale. This guy's like, no, no, no. I'd be happy with 3% growth every year for the next 20 years. Right? Like, fantastic. So he has to get in. That's, that's the thing he needs to do. So identifying that early and then going, no, no, no, no, mate, I don't want you to stop doing what you're doing. Let's not introduce any chaos or unknowns for you. I just want this little thing, you know, just the tip, just for a minute. Let's just see how it feels, right?

A smart business person, you guys obviously smart, you know what you do well, right?

Everything that he does is so intuitive that he can just spit it off. It doesn't make it replicatable. So all in all, phenomenal call, phenomenal sales rep and yeah, one of the best sales people of all time. There's no doubt about it. Do I think it's the greatest thing I've ever seen? Absolutely not. Do I think it will work most of the time? Yes.

To throw the baby out with the backboard would be ridiculous, right? Like him and saying, fire this guy 501. I don't want that. Okay. What I want to be is the guy I don't want to be that took you from 0 to 50. I have those people. I want to be the guy that takes you from 50 to 500 million. Okay. In that area. I know I could be a major asset here because we can do a few, you know, anyone trading commodities and that's over the long term in the way of taking you public. Finding bond financing and notes that you need for, you know, overseas transactions. We can be an asset to your company over the long term. And I just personally just, you know, do that myself. You know, I pride myself on, on, you know, holding my clients hands every step of the way. You know, I dealt, you know, from Mary, only on referral. You know, I'm not a cold calling machine, okay. It's all long term relationship.

Used to be A cold calling machine.

I know this. I'm gonna be judged basically on one trade. If I say, hey, let's do some business together, give me a shot for 30 days and I'm wrong and I stink, you'll fire me as your, as one of your bro. Okay, we'll never speak again. We'll shake hands. You know, hey, you know, it didn't work and that's that, right? And just so you know, my commission on 30 days of business and this is just good with the firm and the government. I can't take myself a lunch in Australia. I'm not getting rich, okay? But I know this. If you see what I could do for you in one month, just small, you're not going to get rich or poor, but the percentage gain, okay, you'll see, you have a broker that was going to work for you, harder for you, more diligently than anyone ever has. And all I ask is that then down the road when I really kind of get into your business and see, you know, the bigger opportunities, you give me a shot. Bigger and better down the road.

Fair enough.

Fair enough.

Fair enough.

What do you think is possible?

30 days.

He's starting to get it. Turning the tide, isn't he?

Percentage savings, in other words. Listen, let me ask you a question right now. How much are you currently edging on a monthly basis? Right now?

Not sure. On a monthly basis we're about 77%. Our debt is unhedged.

Okay.

So I think that means about 20, 22 million. About overall debt is hedged.

22 million is hedged annually. Yeah. Okay, so you have about 20 million. That's. So you said. How much is on hedge? About 70. Is hedged? No.

Unhedged?

Yeah. Okay. It's about 20. 22 million is hedge?

Yes, that's correct.

Okay, great. Okay, so you have about 35 or 40 million on hedge, correct?

Um, 60.

We've got about 150 odd million that's on hand in terms of our debt.

What's your, what's your retina. What's the revenue?

What's our revenue?

I'm talking the revenue.

Sorry, this year just gone 27 million.

Okay, right.

That's what I.