First REAL doorknocking day
51 RepliesJump to last post
One other thing…that $1,378.25 rollover is probably from a 32 year-old that also wants to “start investing”. In the short-term, take the account and start doing something - hey, maybe you’ll get a referral out of it someday (and it’s good practice early in your career). But you will NOT survive off those accounts. You need to find older people (50+) that already HAVE money. Ideally, you want people that have $250K+ in investible assets. That seems inconceivable right now, but if you primarily deal with 50+ year-olds, it will be pretty common.
The architecture (as well as several very questionable surrounding neighborhoods) of my area almost always puts gates and fences between me and the front door. I feel very intrusive about opening someone’s gate and entering their ‘secured’ property. The ones that are locked generally have an intercom that rarely produces a face2face. Does anyone else deal with this type of environment?
For you guys at Jones, do you think it is ok to wear a nice polo and slacks when door knocking in extreme heat ?
For you guys at Jones, do you think it is ok to wear a nice polo and slacks when door knocking in extreme heat ?
_popupControl();
No. You should wear shorts and a tank top with flip flops so they can hear you coming up the walkway.Actually, yes. Not at Jones anymore but I doubt there would be no problem. Your prospects would wonder about your sanity if you were wearing a suit. You should be able to order a polo shirt with the EDJ name embroidered on it. Do you have a name tag? I used to wear mine when door knocking, polo shirts not being my thing.
[quote=fisher23]Second day of doorknocking. 24 more prospects loaded into the system. I wanted 30 but actualy had to be somewhere at 5:00 so I had to stop. By the end of the day I felt like I was in a groove and actually enjoying myself. It was harder to keep myself motivated in the morning.
Today was more difficult and no one ever seems to be home. I feel like if I get someone, I've got a 75% chance of getting a name, number, and some decent info. Today I would knock on 20 doors in a row and not find anyone.
I worked a retirement area in the morning and had limited success. I think the people in this area are pretty wealthy but I really have no idea for sure. Literally, 100% of people I talked to in this area said they had an advisor or two. Everyone has said this is a good thing. We'll see.
2nd area I worked had many newer townhouses. I talked to many stay at home moms with their babies. Probably not the best market.
Uhh...you're not thinking hard enough. These stay-at-home moms have husbands who make enough money to afford having a stay-at-home wife. Those husbands, in turn, have friends at their offices who make similar amounts of money. Moral? Don't be a fucking snob. Until you have a fact finder on someone, EVERYONE is a prospect.
The 3rd area was a nice quiet neighborhood with single family homes all on 1/2 acre lots. I walked a marathon today! People were by far the nicest in this neighborhood and I spoke with retirees, baby boomers, and young couples. It was a good mix, it just takes a long time.
I'm thinking I can get 25 prospects in 3 or 4 hours on Saturday morning when people are home.
I made a stupid little reward system for myself today. I decided I wouldn't break and drink my cold coke until I had 10 prospects. I cheated and took a break at 8.
[/quote] Good activity though!
DK is right. People at those ages switch jobs, need life insurance, 529 plans, etc. And they have parents who are exactly the people you are looking for.
I wear a polo with Dockers all the time if I doorknock and it's hot. My suggestion is to order one or two of the Drifit or Climacool or whatever Addidas calls it. They're great for doorknocking. Nowhere near as hot as the regular old cotton ones in the Jones catalog.I haven't got the guts to try it, but I've often thought about doorknocking in shorts and a polo during these hot summer months. Maybe I'll try it on one of these 90+ days in MO. Reward systems are a great motivating factor. Create a small one for yourself daily, and a then a bigger one for the entire week.
I used to doorknock in khakis/EDJ Polo shirt. I actually found it worked BETTER for residential doorknocking, as long as I was doing the old…“just introducing myself” routine. The outfit put people at ease much more than the suit and tie. I found people to be much more open when I walked up in a nice casual outfit like that (and when it was hot, they thought I was an idiot for wearing a suit). However, I NEVER doorknock businesses like that, even if it’s hot.
I hate wearing a suit. I hate the tie, I hate the dress shirt that always ends up wrinkled, and I hate the suit jacket. I always have and I always will. But I am joining a wirehouse so I know I will be in one almost everyday. Still doesn't mean I have to like it. Personally, I think a nice button down shirt and a good pair of slacks with dress shoes looks just as professional as a suit any day. But I know I am not making the rules. Well, actually on second thought, I guess I will be making the rules if I make it enough years and become successful. Maybe I will be the wirehouse broker that never wears a tie. Oh well, I guess I need to just stay employed first.I used to doorknock in khakis/EDJ Polo shirt. I actually found it worked BETTER for residential doorknocking, as long as I was doing the old…“just introducing myself” routine. The outfit put people at ease much more than the suit and tie. I found people to be much more open when I walked up in a nice casual outfit like that (and when it was hot, they thought I was an idiot for wearing a suit). However, I NEVER doorknock businesses like that, even if it’s hot.
If you are talking about office attire, I can’t imagine not wearing a suit in a wirehouse environment. I work at Jones, and I would never be in the office without a suit. I know a lot of little indy solo practices that are biz casual, but I think it all depends on the image you are trying to project. Personally, I think you should always be dressed nicer than your clients.
If your shirt always gets wrinkled, just buy some of the no-iron shirts. Lands End makes very nice ones, and they are very affordable. I had my shirts cleaned and pressed for years and years, but it just got to be too much of a hassle. I had someone that I had known for years tell me that they had always worn the no-iron shirts, and he always looked good, so I tried them. Problem was, years ago, all the no-iron shirts were that crappy cotton-poly blend and looked like they were from JC Penny, so I wouldn't touch them. But they are very, very good now. Sorry, I digressed a bit.[quote=Broker24] If you are talking about office attire, I can’t imagine not wearing a suit in a wirehouse environment. I work at Jones, and I would never be in the office without a suit. I know a lot of little indy solo practices that are biz casual, but I think it all depends on the image you are trying to project. Personally, I think you should always be dressed nicer than your clients.
If your shirt always gets wrinkled, just buy some of the no-iron shirts. Lands End makes very nice ones, and they are very affordable. I had my shirts cleaned and pressed for years and years, but it just got to be too much of a hassle. I had someone that I had known for years tell me that they had always worn the no-iron shirts, and he always looked good, so I tried them. Problem was, years ago, all the no-iron shirts were that crappy cotton-poly blend and looked like they were from JC Penny, so I wouldn’t touch them. But they are very, very good now.
Sorry, I digressed a bit.[/quote]
broker, I know you are right about wearing it into the office in a wirehouse. Like I said, I know that I will have to play by the rules. Both the wirehouse rules and the client rules.
That doesn’t mean I have to like it. I am sure I am not the only person who doesn’t like wearing a suit.
Trust me, I have no iron shirts. I have the best of the best. I am in an industry now where I have to dress “to the nines.” I wear $300 Johnston&Murphy shoes and suits that are tailored. I don’t have a choice.
Still doesn’t mean that don’t I hate buttoning that top button on my collar every morning and putting on that DAMN tie. And when I walk in the door everyday after work the very first thing I do is to get out of that “monkey suit.” I absolutely hate it.
Right now it is even worse because I live in the South and the humidity is through the roof and it is almost 100 degrees everyday. I am sorry, but it sucks having on a shirt and tie when it is that hot.
But as you, I digress. I am not going to pass on a great career because of my dislike for a suit.
Ahhh, I miss the old polyester suits; especially during the summer. You young "whipper-snappers" don't know what suffering is until you've worn a poly suit in the summer. (For the young-uns on this site, "whipper-snappers" definition: a term used by old-fogeys to describe young headstrong, ignorant know-it-alls, who pass judgement on the previous generation using their short, sheltered life experiences as a basis for said judgement.) Now, where the h*ll did I put my Metamusil!!!!![Right now it is even worse because I live in the South and the humidity is through the roof and it is almost 100 degrees everyday. I am sorry, but it sucks having on a shirt and tie when it is that hot.
But as you, I digress. I am not going to pass on a great career because of my dislike for a suit.
[quote=doberman]
Ahhh, I miss the old polyester suits; especially during the summer.You young “whipper-snappers” don’t know what suffering is until you’ve worn a poly suit in the summer.
(For the young-uns on this site, “whipper-snappers” definition: a term used by old-fogeys to describe young headstrong, ignorant know-it-alls, who pass judgement on the previous generation using their short, sheltered life experiences as a basis for said judgement.)
[/quote]
LOL, so I am a headstrong, ignorant know-it-all, and am passing judgement on your generation simply because I don’t like wearing a suit? Interesting.
Get to $1MM in production and you can come to work in boxers and a wife beater if you want!
That is funny right there, I don't care who you are.
And in all seriousness, I understand why it is important to be dressed in a suit if that is what your clients expect. I just have always felt uncomfortable in suits. Just me.
I still think that shorts and flip flops are the ticket.
I know what you mean about the South and humidity. I thought I was going to melt. I was never so glad as to get back to my climate where is can be 100 degrees with very little humidity. I'd take that anyday over 85 degrees and 80% humidity.
You think a suit is bad, try wearing make up, heels and nylons in hot weather.......or maybe not...... that image is just too weird with the shorts and wife-beater.I’ve tried the heels and nylons…they made my toes hurt.
I know of a couple of guys in FL that don't ever wear a suit to the office. Most advisors in HI don't either. I think you need to understand the people you're dealing with. You walk through the barnyard in your $300 shoes and get cow/dog/goose/et al crap on them and that farmer might just kick you off his property for being stupid and wasting good money. At the same time, you pull up to his door in a BMW or Benz and he might not do biz with you simply out of principle. He'd just as soon talk to someone in dockers and a nice oxford who pulled up in the King Ranch Edition F-150 than he would the guy who just got off the plane from NY City. I think I'm going to try doorknocking in shorts and a polo next week. Just to see what happens. I'll let you guys know.Spiff …is right on the money. I think we used to call that " Know your customer 101 ".
Happy July 4th. to our friends south of the border[quote=Spaceman Spiff]I’ve tried the heels and nylons…they made my toes hurt.
I think I'm going to try doorknocking in shorts and a polo next week. Just to see what happens. I'll let you guys know. [/quote] Ever consider speedos?[quote=babbling looney]
You think a suit is bad, try wearing make up, heels and nylons in hot weather.......or maybe not...... that image is just too weird with the shorts and wife-beater. [/quote] Agreed, that kind of outfit is worse than wearing a poly suit!Sorry I haven’t posted in awhile, I’ve been doing nothing but doorknocking. I leave for eval/grad soon with 400 something doorknock contacts. I feel like I’ve walked around planet earth a few times over in the past few months. Somedays I feel like I’m spinning my wheels and not going ANYWHERE, very frustrating. On a side note, I’ve only been bitten by one dog that broke skin and only caught in two thunderstorms that completely drenched me and my suit.
ANYWAYS, I feel like I’m working my but off but don’t have a lot of realllllly good prospects. I guess I’ll find out soon at eval/grad.
After eval grad I’m considering implementing a call list and divide and conquer between cold calls with the list and doorknocking. No one in my region has mentioned this approach, they just always preach doorknocking. A buddy in another EJ region has told me he’s used call lists with success. As a newbie right now I feel like I’m lost and just floating in the wind with no real direction. Suggestions?
Don’t make any judgements on your prospects yet. You’ve met them one time. You’ve spent maybe 3 meaningful minutes with them. Some of them will tell you they don’t have any money, all the while sitting on a $1 mil account. They might just mean they don’t have any NEW money to invest right now. At the same time, some of the folks who seem really interested in talking with you right now may never talk to you again.
Here's what I've found with prospects. 10% of the people you meet will just love you and appreciate that you stopped by to talk to them. They will come meet with you in the next few months and let you review their portfolio. Some will have money, some won't. That's the low hanging fruit that everyone talks about. 10% of the people on your list won't ever talk to you again. You'll do what you can to try to get them to, but they'll eventually just tell you to go away or just never answer the door or phone again. You'll turn them red in your system and eventually delete them. If you can get them to tell you to go away quickly, then that's a bonus for you. It's that much time saved chasing someone who really doesn't want to be chased. It's the other 80% that you need to really focus on and figure out. In that group are the people with real money. They're the ones who have said they have an advisor already, but it's OK to call them with ideas. Or they talked to you but didn't really give you a lot of details. They are the ones that you have to figure out if they belong in your keep pile or in your toss pile. So, look at it this way. The Ted Jones Prospecting award is for opening 120 accounts in your first 12 months. If you can get just 10% of your EXISTING prospects to do business with you, you should be well within striking distance of that award and probably whatever your goals for income are in your first year. You just simply don't know what you don't know at this point. Try not to get frustrated with where you are. Talk to your mentor, other Seg 2 or 3 FAs in your region, other new FAs. Even other advisors at some other firms. Get some ideas on what they did to become successful. It sounds like you've done a little of that already. Keep it up. I know it sounds cliche, but the Jones recipe does work if it is followed. Most of all, have fun.