Daily Schedule
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Bondguy, do you have an outline of a daily schedule you used back when you were still trying to make it in the business.
Get to office by 7:00 a.m. Leave at 9:00 p.m. Work entire time that you are there.
Yeah, great move. Then end up divorced and your kids don't even recognize you.Get to office by 7:00 a.m. Leave at 9:00 p.m. Work entire time that you are there.
8-12:30pm Calling (1 hour blocks with 10 minute break in between each) rotate between business owners, residential, and corporate list
12:30 Lunch(Under 30 minutes unless with a prospect-wholesalers don't count) also any admin that needs to be taken care of(normally eat at my desk) 1-4pm Calling(Same as above, unless you have callbacks to make) 4-5-misc admin work, early dinner if calling late.. 5-8pm calling (3 blocks, with 10 minute break)[quote=Squash1]8-12:30pm Calling (1 hour blocks with 10 minute break in between each) rotate between business owners, residential, and corporate list
12:30 Lunch(Under 30 minutes unless with a prospect-wholesalers don't count) also any admin that needs to be taken care of(normally eat at my desk) 1-4pm Calling(Same as above, unless you have callbacks to make) 4-5-misc admin work, early dinner if calling late.. 5-8pm calling (3 blocks, with 10 minute break) [/quote]Yeah, great move. Then end up divorced and your kids don't even recognize you.
Yeah, great move. Then end up divorced and your kids don't even recognize you.[/quote][quote=HAAIC]Get to office by 7:00 a.m. Leave at 9:00 p.m. Work entire time that you are there.
I guess you would prefer the formula for mediocrity, like you did?
You only have to adapt to that schedule for 2-3 yrs… and then if you are doing fee based, you should have gathered enough assets and accounts to not do that anymore…
My schedule, starting out, was 7am to 9pm Mon thru Fri. I gave myself weekends off.
I worked that schedule for seven years. The only time off the phone was lunch and dinner. Both those times, everyday, were spent as working sessions off the phone. 9pm to 10 pm every night was spent organizing the next day's calls. Usually, I was out the door around 9:30pm. My "Model Day" was very simple. My biz is and always has been phone based. So, the plan was, and is maximize time on the phone. No interuptions. I don't take incoming calls and i don't deal with service issues unless absolutely necessary. My time, even today, is spent selling. My schedule was/is very simple. I call it Presso/Pitch/Prospect. I present to clients to position bonds and stocks. I pitch to prospects to open accounts. The rest of the day is spent prospecting. A typical day would have at least a dozen presentations, a dozen pitches and 300 to 500 cold call dials. Once the pipeline fills in with green cherries etc, achieving these numbers is not hard to do. organization and time control are key. And yes, this schedule is tough on the personal life and the family life. You have to decide how committed you are to this. It takes a total committment to get this biz off the ground. No diffferent than other professions.One last thing:
For a call to count as presentation or pitch it had to be completed to the closing question. Calls that didn't make it to the close didn't get counted. However, if those calls moved the account forward in some way(new money due date uncovered etc) it did count.Yeah, great move. Then end up divorced and your kids don't even recognize you.[/quote][quote=Ron 14][quote=HAAIC]Get to office by 7:00 a.m. Leave at 9:00 p.m. Work entire time that you are there.
I guess you would prefer the formula for mediocrity, like you did?
[/quote] What is the formula for mediocrity that I prefer ? Also, in my world being a husband and a father is on the top of my priority list and nothing else is even close.
[quote=BondGuy]
My schedule, starting out, was 7am to 9pm Mon thru Fri. I gave myself weekends off. I worked that schedule for seven years. The only time off the phone was lunch and dinner. Both those times, everyday, were spent as working sessions off the phone. 9pm to 10 pm every night was spent organizing the next day's calls. Usually, I was out the door around 9:30pm. My "Model Day" was very simple. My biz is and always has been phone based. So, the plan was, and is maximize time on the phone. No interuptions. I don't take incoming calls and i don't deal with service issues unless absolutely necessary. My time, even today, is spent selling. My schedule was/is very simple. I call it Presso/Pitch/Prospect. I present to clients to position bonds and stocks. I pitch to prospects to open accounts. The rest of the day is spent prospecting. A typical day would have at least a dozen presentations, a dozen pitches and 300 to 500 cold call dials. Once the pipeline fills in with green cherries etc, achieving these numbers is not hard to do. organization and time control are key. And yes, this schedule is tough on the personal life and the family life. You have to decide how committed you are to this. It takes a total committment to get this biz off the ground. No diffferent than other professions. [/quote] Just out of curiousity how many assets were you adding annually when working 7-9? My guess would be a lot..Assets? I don’t remember the asset numbers as AUM wasn’t a number we cared about. In those days it was all about one number- Gross production. However, even in those days my production was substancial. Which is what happens after a few years of giving up your life. A very high % came from new accounts/new assets.
Really, gross being the only important number hasn't changed. Just ask some of the UBS guys who got their walking papers. The could have had more than the required AUM to keep their seat, but if the gross wasn't there then neither were they. AUM doesn't pay your bills.Good Point… I have a new guy who is just trying to get started(trying to purchase him a small book) but what do you suggest he do until then? Pound the phones?
If I were you, I’d get him pounding phones - set up a few seminars for him to fill and also get him into one of those BNI groups. It takes time to get referrals, but the structure and training can be worth it. I can’t say enough how much the sales chops are refined by making the dials.
Kickin'[quote=iceco1d]So BG…whats your ballpark GDC number?
If I recall correctly, you posted last fall/winter a few of your months for motivational purposes...your typical month is somewhere in the $100K range, yes? [/quote] What is GDC? With the exception of of one month I've been 100K plus since November. That one month I missed was in the high nineties. OTOH, my wife's biz, ret planning/ins, has been down with the exception of one month. Still, she's pulling no less than 25K per month. Prior, my production was in the 75 to 85k per month range. Bad market equals record year-Go figure!Bondguy - I know you have probably said this in a previous thread, but during your times of pounding the phone doing cold calls, do you leave messages or just move to next call if no answer ?
Bondguy: Even though I’m in my late thirties, I’m still available for adoption if you and the Mrs. are ever so inclined. You’d have two wonderful ready made granddaughters. WoW those are some killer numbers.
I think it would interesting and informative, just to hang out with BongGuy at his office for a day or week…
Ron14, I don’t leave messages when cold calling. I tried it, and didn’t get good results. One of the problems is I don’t take incoming calls. The incoming call timing is out of my control. That doesn’t mean that leaving messages doesn’t work, it just doesn’t work for me.
Squash1, hanging with me would be pretty boring. And i doubt my current work ethic would impress anyone. Maybe the motivation would be "if this guy can do it, i can do it in my sleep." Just banging out calls and asking people to buy. There's no magic. And more than that, what i do today isn't like what a new person has to do everyday. Other than maximizing time on the phone. Today, i work off a money due list. That is, bonds maturing/being called. One of the advantages of a bond business is having this list every month. Some months it provides a good base to the month. Other's it makes a great month all in itself. My job is to find a replacement bonds. For the most part it's like shooting fish in a barrel. There is no sport in it. No excitement of the hunt. No heart pounding closing to agonize through. Just boring gross production. "Mrs Jones, your xyz bond is coming due next week, I have an ABC bond here for you to replace it. We'll just put that in the account for you, OK? "Oh OK, thank you bondguy" Cha-ching! And so it goes. i know i'm a broken record when it comes to me saying just buy bonds, but this is why. How hard is it to call someone to tell them you are going to replace the income they are losing but have come to expect? It ain't hard at all. But you've got to build it first. That's the hard part. A bond/fixed income business is a simple high income business. I call it a sleep good at night business because what i sell can't hurt people. Just buy bonds!! That's not all i do, but it's a big part. I cold call, work referrals, do speeches on the Rotary circuit. I'm constantly on the hunt for new money. Still, I'm sure most of you work harder than i do. jkl1- Ah, more grand children! I'll make you a counter offer. How about you adopt my youngest son? 3.5 +- GPA at a good school, but he's an idiot. Two accidents in two weeks. That makes four, or is it five in three years? The last one totaled the car. My insurance company is really unhappy. As in drop us from coverage unhappy. If you take this kid I get to keep my insurance. Think it over! Some things money can't buy.