Hitting a wall...

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BullMarket's picture
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Joined: 2005-08-22

Hey Everyone,

I am a new broker and have been out for about 6 months.  I feel
like I have hit a wall and am just not feeling really great. 

My question is, what do you all do to get yourself out of the slump and get motivated and feeling good again.

THanks!

Mike Damone's picture
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Joined: 2004-12-01

The fear of being canned and having no paycheck was enough motivation for me.

blarmston's picture
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Joined: 2005-02-26

What I do is work my ass off from Monday until Firday morning. Get in a half hour earlier and stay an hour later, whatever those times may be. I make sure to set realistic goals ( new dials, contacts, qualified call backs, etc) and make sure I hit them. I leave early on friday morning to do something fun that allows me to relax and forget about work. I may bring some paperwork to finish on Sat or Sun morning before the games begin. When I come back Monday 9 out of 10 times I am feeling much more refreshed and ready to get after it. we all need to have an outlet or this job will consume us. Good luck finding yours- I have been there many times before.

executivejock's picture
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Joined: 2005-06-29

Some people use a point system and evaluate their progress day to day and week to week.
Have points for everything that is important.. New accounts, contacts, phone calls, meetings and everything between.
Good luck and work out daily!

blarmston's picture
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Joined: 2005-02-26

"Some people use a point system and evaluate their progress day to day and week to week. Have points for everything that is important.. New accounts, contacts, phone calls, meetings and everything between."
Most brokers I know have certain goals on a daily, weekly, and monthly basis. But that still doesnt tackle the issue of relieving the stress and fatigue that goes hand in hand with this career. This issue has been tackled on here before, and I feel everyone would agree that we need to have "down" time to either blow off steam or simply relax and recoup our energy and focus...

ezmoney's picture
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Joined: 2004-11-30

Been there. Take some time off and reflect on what a great opportunity, and flexability this job offers. Every job has its pros and cons. Take some time off and then come back and get to the activities that count.

BullMarket's picture
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Joined: 2005-08-22

Thanks, I like those suggestions. 

Blarstorm, I just want to make sure I have this straight.  You put
in about six extra hours Mon-Thurs and then work maybe two on Friday
morning so you can have the rest of Friday off?  That sounds like
a very nice reward!  I like that.  My question is, would that
be recommended for a new broker trying to build his book?

BullMarket's picture
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Joined: 2005-08-22

ezmoney wrote:Been there. Take some time off and reflect on what a
great opportunity, and flexability this job offers. Every job has its
pros and cons. Take some time off and then come back and get to the
activities that count.

Yeah, I think I need to go to the lake for a weekend or something like that.  Just to get away from everything. 

Thanks.

BullMarket's picture
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Joined: 2005-08-22

executivejock wrote:Some people use a point system and evaluate their progress day to day and week to week.
Have points for everything that is important.. New accounts, contacts, phone calls, meetings and everything between.
Good luck and work out daily!

Yeah, I just created a daily, weekly, and monthly reward system.  I should have done that a long time ago. 

It is funny that you mentioned work out daily, just out of curiosity,
how many of you all do that?  I have noticed that a lot of brokers
I have met are marathon runners.  They all swear by it and say
they couldn't do as well as they are doing without it.  I have
started trying to go running right after I get off work every day and
it seems to help, I just need to make it a routine that comes naturally
to me instead of having to make myself do it.

Thanks

moneyadvisor's picture
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Joined: 2005-08-02

Bullmarket -
The wall you have hit......is you realizing first hand, how difficult it is to get people to give you their money. Hard work and patience will serve you well.

executivejock's picture
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Joined: 2005-06-29

Although I am not a market bull yet my life is quite diverse. I am a firm believer that a healthy body drastically improves one's mind's ability to function and respond.
With my schedule I have to stay in top physical and mental condition. Working out does not have to consist of 1 hour in the gym. Buy a rubber band work out set ($15) and do some push ups for 15 minutes.
While your working out play some songs that motivate you. I listen to Rocky theme, Eye of the Tiger, Metallica and Guns and Roses. For the most part anything that inspires you (256mb music player is $45).More important then working out is eating a healthy diet. Eating healthy improves ones durability, confidence and stabilizes daily energy levels. 
As for diet focus on moderate fat (nuts & oil), fiber, carbs and protein. Remember protein builds cells and to maintain your brain and muscle mass you need protein. Another critical fact is to think of your body as an engine. If you do not feed it throughout the day it will not function. So make sure you eat breakfast and do you best to stay hydrated.Personally I am not a big fan of running since it can result in knee or back damage. Their are studies that show walking is just as effective so wear your $45 dollar MP3 player and make it happen. Living a healthy life style will drastically improve all areas of your life!
If anyone has a question about health and fitness feel free to contact me.

rightway's picture
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Joined: 2004-12-02

Exec makes a great point, and one that completely changed my life and
production.  I was almost 300 pounds when I left the bank and came
to ML.  As part of my "re-birth" professionally I decided to
commit to fitness as well.  I hired a trainer and lost almost a
hundred pounds of fat.  I now work out 5 days a week and never
miss happy hour on Fridays and desert at restaurants. 

I went from a manager and a million dollar producer at a bank to doing
$120K in production (year 1) and a piker at Merrill.  Within my
first week at ML and my new fitness regim, I was laughing more,
handling the stress better, better organized, and thinking more
clearly. 

When my attitide gets bad at work I leave.  I go for a run, a
swim, a walk, lift, shoot hoops, something active...and it helps 100%
of the time. 

BrokerRecruit's picture
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Joined: 2005-04-19

I hit the gym each day before work and after I leave the office, typically only 30 minutes per trip.  It completely refreshes me and gets my energy going to start the day and exerts all of the energy I have left from being at the office.  I get home, feel relaxed, refreshed and am able to get a good night's rest.

moneyadvisor's picture
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Joined: 2005-08-02

RW - can you remember a day or week, where you said ENOUGH!!, I need to make a change?? How did you absorb such a large hit to your business?
Your PM is full.

blarmston's picture
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Joined: 2005-02-26

All good advice from everyone in regards to the exercies routine. Personally, I try to run about twice a week. Even though its every third day or so, it still refreshes me. When I get home at 7 or 8 at night, its great to run along the beach, try and catch the sunset, catch some lingering bikinis, get home, grab some food, pop in the dave chappelle DVD or family guy, laugh a little, then crash for the next day of work.....

BankFC's picture
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Joined: 2005-05-27

I have just started a workout and diet regimine.  In the two years since I have moved back here from Atlanta, I have gained almost 70 lbs!!!  It has got to stop.  I have a pretty thick build naturally (I played Div-1 linebacker) so I still look ok, but nothing like I used to be!  This morning I weighed 271.5, and I am 6'1". 
I intend to lose 80 lbs...by New Years.  How?  I have combined everything I know about dieting into one drastic system.
Low carb, low cal, low fat, drink tons of water...basically I've been eating sashimi (sushi w/no rice), grilled chicken breasts, and grilled fish.  Sometimes I throw in the ocassional raw vegetable here and there.
I'm supplementing w/ calcium, CLA, B-complex, multi-vitamin, and an amino acids complex.
Lifting as normal for me, and trying to run or do the elliptical...but that is the most mentally tough thing for me, because it gives my mind time to think all the reasons why it sucks.  
I'll keep updating my results in case anyone cares, and also to give myself one more accountability.

doberman's picture
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Joined: 2005-02-22

An important fact to keep in mind, for those who are exercising (particularly weightlifting) and trying to lose weight, if you lose more than a pound per week you might be losing muscle, as well.
It's entirely possible to replace fat with muscle and have no variation of weight, at all. Of course, your shape will change for the better!  Last July, I introduced free weights to my exercise routine, after using Nautilus machine weights for a few years. For me, the Nautilus machines were practically worthless, with no discernable results. Free weights, however, have practically eliminated my lower back pain and shoulder problems.
I use the workout routine detailed in the books: Body For Life & BrawnBody for Life gives a good, basic exercise system to follow. And Brawn cuts through all the unrealistic exercise crap fed to us by the media and tells you what you can reasonably expect as a result. I liken the author of Brawn on exercise to that of Warren Buffett on investing.
I exercise 6 days a week, from 5am to 6am, and I hate it! Getting out of a nice, warm bed, at 4:30am, to go suffer for an hour, performing mind-numbing exercise repetitions is not my favorite activity. But the physical benefits I've obtained, without the benefit of pills, surgery, etc. makes it worthwhile.
 
 

Luciddiscord's picture
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Joined: 2005-09-12

Brawn is the straight up warren buffet truth.  Also try looking
into anything written by Michael Colgan.  If you are using
machines, you are only hurting your body.  Think full body full
range of motion exercises, deadlifts, pullups, dips ect.

rightway's picture
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Joined: 2004-12-02

moneyadvisor wrote:RW - can you remember a day or week, where you
said ENOUGH!!, I need to make a change?? How did you absorb such a
large hit to your business?
Your PM is full.

Yes.  Actually this week was one in which I hated work.  I
take a page from John Wooden, in that I stay away from the
extremes.  I think about how nice it would be to do other lines of
work when I loose a deal or an account and I question how good I am at
this, I make 20 prospecting calls and get 20 failures...all of the
stuff we all endure.  After 15 years, and starting over 5 years
back, I have found the ebbs and flows never stop.  I embrace them,
learn, and move on. 

I have found routines help most of all.  I always work out at
lunch on Monday, Wed, and Fri.  I always go to Happy Hour on
Fridays...sometimes lots of people from work ar ehtere, sometimes a few
college buddies meet up there, and sometimes I don't know anyone...but
I always stop in in Friday after work.

Ultimately I see what we do as noble work.  Sell a long term care
policy and then watch the family use it and protect hundreds of
thousands of dollars...all from your "sale".  This sort of things
drives me, and if I don't supply the service to my existing and future
clients then they will get hurt by someone else.

My PM is cleared out...sorry.

radernation-1's picture
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Joined: 2005-06-07

I like your idea of leaving early on Fridays. My past experience has shown me that at 2pm on a Friday afternoon people are not thinking about financial goals. My advice for the new broker starting out is instead of working a full day friday, work a half day and work a half day on Sat. Its a good way to get in front of people and they see that you are willing to work on Sat . I have obtained many clients by telling them I offer Sat appointments. Good Luck to you and to all of you had outstanding posts. Its good to see people on here willing to help others unlike some of the arrogant, inmature people that seem to mutate on here.

executivejock's picture
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Joined: 2005-06-29

Its good to see some healthy living here.. Health and wealth go hand in hand.
For sure Body for LIFE is the best guide on the earth. This balanced concept is exactly what works. Nutrition is 80% of the battle and staying active is the other 20%.
Cheers to us who will be healthy and welathy!

tjc45's picture
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Joined: 2005-05-06

I second(or is it third) the leave early on Friday business plan. This career is one tough gig. We make exceptional amounts of money, but also pay an extraordinary price. We not only carry the worries of building our own practices, but also the burdens of our clients well being. Getting free of this weight is not only advisable, but necessary for long term survival in this business.
I usually leave around noon on Friday. I do not schedule appointments for Monday, because I spent Sunday worrying about them when I did. Weekends are spent either doing family activities, or activities that take total concentration. For me that's Long Distance Motorcycling(www.ironbutt.com), or racing sailboats. The idea is to do something that won't let anything else encroach. For exercise I ride a bike 4 or 5 times a week for at least an hour.

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