Thursday, March 10th

57 Dials

8 Contacts

1 Prospect

-I only had like an hour and a half on the phone, and then our phone system shut down again...which lasted the entire day.  The prospect I generated on the 57 Dials was pretty interested, but refused to set up a time next week to have a meeting...which I do not like. 

One of those guys that gives you this sh!t...

Me: "Let's due this Bob, how about we set up a conference call next Tuesday, at about the same time, and I will make sure the program manager is there along with me"

Prospect: "No no no, I'll just call you if I have any questions"

...you know what Bob, your probably dumb as hell and won't know wtf your looking at, which is the point of this future f'n meeting, to walk you through it...and then have the individual who could be potentially managing your hard earned $ there to answer extensive questions about his program.  Because your so stupid, you will get to page .5 out of the 25 page disclosure document, scratch your head like a dirty monkey, and then toss it out because your too stubborn to admit you are confused/dont understand...fu Bob.

-rant over-

On a positive note, I did have a meeting with a prospect that actually asked to open an account with me, but his $ won't be available for about 3 weeks. 

Also, I had a 4th follow-up with a prospect along with my manager that should come in in the next week or two, and should be a good sized managed futures account.

[quote=ComBroker]

[quote=Otane]

You are going to have a problem if you don't qualify for the investment amounts. Small amounts with a lot of dials is going to put a damper on your efforts. 

Good luck to you and keep us posted. 

[/quote]

Qualifying is a bit different for managed futures...the minimum on the programs I work with his 25k, which would net you about 400 per month, 4800 annually...and I qualify for at least that amount.

I also work with a tiny one, but not as much, that has a minimum of 10k which would still net you a few hundred per month, few thousand annually

Also, with a managed futures program, you act primarily as an asset gatherer...once a client enters a program, there is zero maintenance to do yourself.  The program's managers/assistants then service the account, and you could paid transactionally on what they do for as long as they're in the program.

For you guys that are indy, I would seriously consider getting a series 31 and implement managed futures with your clients if it fits their risk tolerance and you can find some good managers.  There is a lady at my firm that makes well into 7 figures per year, 6 years in, and all she has done is raised assets for managed futures.  Because she just raises the assets, she makes her own hours, vacations when she wants...you get the point haha

[/quote]

How much does she have under assets?

Com,

I've ran into prospects like that too.  Those are the type of guys who will never do business but too nice to say no imo.  If they are not really interested I usually say, "So what do you invest in? How can I have you as a client?"

But I guess in your scenario that might not work out since you are doing a specific niche type of investment.  When do you plan to get other licenses so you can pitch a whole range of products?

[quote=Otane]

[quote=ComBroker]

[quote=Otane]

You are going to have a problem if you don't qualify for the investment amounts. Small amounts with a lot of dials is going to put a damper on your efforts. 

Good luck to you and keep us posted. 

[/quote]

Qualifying is a bit different for managed futures...the minimum on the programs I work with his 25k, which would net you about 400 per month, 4800 annually...and I qualify for at least that amount.

I also work with a tiny one, but not as much, that has a minimum of 10k which would still net you a few hundred per month, few thousand annually

Also, with a managed futures program, you act primarily as an asset gatherer...once a client enters a program, there is zero maintenance to do yourself.  The program's managers/assistants then service the account, and you could paid transactionally on what they do for as long as they're in the program.

For you guys that are indy, I would seriously consider getting a series 31 and implement managed futures with your clients if it fits their risk tolerance and you can find some good managers.  There is a lady at my firm that makes well into 7 figures per year, 6 years in, and all she has done is raised assets for managed futures.  Because she just raises the assets, she makes her own hours, vacations when she wants...you get the point haha

[/quote]

How much does she have under assets?

[/quote]

She's raised around 20 million.

[quote=newregrep]

Com,

I've ran into prospects like that too.  Those are the type of guys who will never do business but too nice to say no imo.  If they are not really interested I usually say, "So what do you invest in? How can I have you as a client?"

But I guess in your scenario that might not work out since you are doing a specific niche type of investment.  When do you plan to get other licenses so you can pitch a whole range of products?

[/quote]

I'd like to plan on having all my necessary licenses by the end of the summer...initially, I thought I would have to get them right away, but we are still getting some stuff together for that side of the business, so right now I can just focus on the futures aspect of my business, and when I get a decent book together that's giving me some income, then I can branch out for my other licenses.

Com .. Thanks for your responces.  I'm going to watch your thread more closely now since its a bit different from the same old cold calling log.    Do these clients really make any money or is there profit pissed away from all those trading fees?   What is their upside/downside? 

Good luck!

[quote=SuperMan]

Com .. Thanks for your responces.  I'm going to watch your thread more closely now since its a bit different from the same old cold calling log.    Do these clients really make any money or is there profit pissed away from all those trading fees?   What is their upside/downside? 

Good luck!

[/quote]

Haha thanks, I wanted to make sure I kept on top of the thread...ive seen a lot try to do something like this in the past, and either get discouraged after a week, or just simply stop caring to post.

As long as it helps people, motivates people, or gives people some ideas...I don

t mind to do it as I keep a calling journal myself.

There is money to be made in a managed futures program, and I work with 10 different ones now...it was 5 before, but I continue to expand my horizons haha

Now, a lot of managed futures fund raisers will work with one specific program...the reason I work with so many programs is to fit someone's specific risk tolerance.  I have a few programs that work with strictly limited risk/limited profit option spread strategies, I have a few programs that strictly day trade the s&p 500 on a programmed system, I have a program that strictly trades live cattle, I have a program that uses unlimted risk option selling with enhanced probability of profit...etc etc I think you get the point haha

All of the programs I work with have made money in the past...they all have audited track records that show a nbet performance after commissions and incentive fees...

...for example, client goes to me and is worried about downside exposure, wants to allocate 5% of his portfolio into managed futures...well, I have a program that uses limited risk/limited profit option strategies, trades across all US commodity markets so you get that diversification away from equities, and has done well in the past...-4% in 2007, 5% in 2008, 14% in 2009, and 28% in 2010(again, this is net of commissions and incentive fee...its what the client receives)

...another example, I have a guy that is frustrated because he likes day trading the s&p 500, but just cannot get the hang of it, and its what he would like to focus his attention on...well, I have something that may fit your risk appetite, a short-term day s&p 500 day trading program, it averages 1.5 trades per day and trades on a blackbox system, it does not hold positions over night, and uses fairly strict risk management principles with tight, trailing stops...this program was started in september of 2010, so it is fairly new, but it has returned 14% since that time, net of commission and fee -- and also, this program only has a $10,000 minimum account opening.

I think you guys get the point, I diversify the programs I work with to fit someone looking toward futures that fits a large majority of situations.

Friday, March 11

190 Dials

17 Contacts

1 Pipeline Prospect

-phones we messed up again today, so in the time I had on the phone I hit it pretty hard.

-my meetings I had today with the possible closing opportunities I moved to Tuesday because of our down system

...not too happy with the way the week ended, our phones being messed up really got me out of my flow...oh well, next week is a new week, although I am out of the office on Monday, so will have to play catch-up

off to drink about 40 beers...

make that 41 for me pal. 

Tuesday, March 15

244 Dials

22 Contacts

1 Good Prospect

1 Pipeline Prospect

another not so great day yesterday, hopefully i can turn things around today.

How many numbers do you dial per hour?

[quote=newregrep]

How many numbers do you dial per hour?

[/quote]

I would say about 40, maybe 50 if its a lot of disconnects/no answers.

Wednesday, March 16

240 Dials

16 Contacts

0 Prospects

...nuff said....

Com,

don't get down bro, keep your head up and keep trucking.

Have you tried measuring your efforts by the number of contacts instead of dials?  Try to get 25 contacts per day or more each day, that's how I measure my efforts.

[quote=newregrep]

Com,

don't get down bro, keep your head up and keep trucking.

Have you tried measuring your efforts by the number of contacts instead of dials?  Try to get 25 contacts per day or more each day, that's how I measure my efforts.

[/quote]

Ya, I still primarily focus on contacts, because I should be able to turn 10% of those into at least a weak prospect...I just lke to also track my dials as well.

Thurs, March 17

334 Dials

25 Contacts

0 Prospects

...frustrating, very frustrating

Great morning today...got some good prospects, and had 4 meetings with existing prospects.

Existing Prospect #1: Met with him an my portfolio manager...He has a couple hundred thousand sitting in some money market thing doing nothing, I guess some guys from wells fargo put it there when they opened him and never really did anything...guess it wasn't worth their time.  He liked our asset allocation program, our investment proposal, and our management style.  He's going to get his statements together this weekend so we can figure what's going to go where, and I am expecting to do acct forms early next week.

Existing Prospect #2: Small Managed Futures Guy, he wants to enter into our small short-term trading program with 10k, going through disclousure documents this week.

Existing Prospect #3: Another managed futures guy, he wants to allocate 30-50k to one of our programs.  He is outof town until next Wednesday when we have our 3rd meeting.

Existing Prospect #4: I met with him today with our principle/chief market strategist...he's traded in the equity markets by himself before, using options, but never did well...he liked the non-directional strategy we employ when we walked him through it, and wants to open a full-service trading account with 30-50k, which is a nice sized full-service account...we are meeting on Monday morning and I am expecting to be filling out account forms.

Good stuff, it looks like your pipeline is starting to close.

Don't stop!

forgot my journal at work, so I will have to post friday's numbers tomorrow when i get in.  i figured since ive been giving my dials and results, i can elaborate a little bit more into my routine, and how i spend my time at the office.  so the following is kind of a general outline of my day...

6:45 am

arrive at the office, get settled for 7am sales meeting(we have these everyday, the manager that gives them is unbelievable in phone sales...very professional, very compliant, and very effective)

7am-8am

hour-long sales meeting...essentially like training, we tape our calls and get them critiqued with our manager/trainer, and also we listen to his calls and his process of closing clients.  I have only been doing these for about two weeks now since i started, and my calling/confidence on the phone has improved 10-fold, although i still have a long way to go in mastering my craft.

8am-9am

review recordings from the previous days calls...I like to not only look what i did correctly in successful calls, but what i messed up on when i got a prospect dropped.  we do a lot of tape review in our company, one of the things they compare this to is that if your in the big leagues, say the nfl, your going to be reviewing tape before a game and after a game.  you have to view this as a competition with yourself everyday, and prepare as such.

also, in this timeframe i go through cnbc.com and catch up on all the big overnight headlines that factor into the markets, and get leads together for first calling session

9am-12pm

Calling session #1.  In this time the phone does not leave my ear(cant wait for my headset), and dial as fast and work as efficiently as possible...i make these sessions very intense so i kind of get 'pumped up for them'.

12pm-1pm

lunch break - do whatever

1pm-4:30pm

Calling session #2.  Once again, phone doesn't leave the ear...intensity intensity intensity

4:30pm-5:30pm

I try to schedule my follow-up appointments in this time, although they will cut into either of the calling sessions.

5:30pm-6:30pm

Review the tapes from today, get some notes together on my calls for tomorrows sales meeting.

That's about it right now, pretty much a solid 12 hour day.  with these two calling sessions i should have no problem getting in a bare minimum of 300 dials in per day, but at the same time, follow-ups and lengthy appointments can cut into that.

As I mentioned before, the sales meetings I hold with our manager are priceless...he could sell these types of sessions for serious$ and retire haha...I don't use anything near the same type of script I outlined in the beginning of this journal, if anyone would like to know the outline of our sales process/initial contact script just let me know, i see that only newregrep is really following this and the thing will be pretty lengthy so want to make sure people want it.

I think we'd all be interested in hearing it Com Broker

Very impressive stuff, congrats, as long as you keep this up, you are pretty much guaranteed to make it