First REAL doorknocking day
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Fisher,
YOur feelings are EXACTLY how most newbies feel when starting out. Here's what you need to understand....you need to open about 10 accounts per month (5-7 households) to be successful - more if you want to be REAL successful. So realize that the % of prospects that will turn to clients is VERY small in the beginning. Unless your area is really prime with retirees, you are not going to get rich doorknocking, but it will certainly get you started. I would plan to subsidize your doorknocking with cold calling, coldwalking businesses, networking, and seminars. In the beginning, you are fighting an uphill battle. If you can make it through 3 years with money in your wallet, then you will do fine. Don't get discouraged so soon. What you aer going through is what everyone goes through (that does not already have a book or established market).I was hoping you two would chime in. Thanks.
To be specific, this is what I’m considering after eval/grad:
1. Buying a list with specific criteria: maybe 50 or older who own their home in my zip code.
2. Cold-calling from the list and getting 10 new quality first contacts a day to add to the pipeline. Then send Thank you card, etc.
3. 15-20 repeat contacts (both phone and at door)
People say that new brokers need to hit this prospecting thing from many different angles, BUT specific guidance and suggestions on how to use the phone in combination with door knocking would be helpful.
Hey Fisher…I got my can sell a little over a year ago, just moved into my office last month…got my BOA etc. My advice for eval-grad is…don’t worry so much about who was nice and who wasn’t. Call everyone and you will be surprised who talks to you. Triple crown is nice (I got it)…but I would trade it in a heartbeat for no orders and double the appointments…IMHO Appointments are the key at eval grad because several of them will flake and not show up etc… Good luck and keep us posted! and of course PM with any questions as I have gone through what you are not so long ago!
I agree with Kool-Aid. I thoroughly expected many to be nasty at eval/grad and only one was. I was very impressed with how many were receptive. You will be surprised how some that you thought were great/interested prospects will never speak to you again, and some that you thought would never do business with you will become great clients.
Door-knocking sucks! but it DOES work. Good luck.I am going to chime in here. I was just recently hired at Edward Jones. I start the SFC program on Monday. This seems to be the most informative post out of EVERYONE. It’s basically documenting a new FA from the beginning and having vets chime in. I appreciate it greatly and i may have to keep this one going from my Day 1. This is my first commission only job as well, so there are some concerns there, but i have only heard that if you work hard it will pay off greatly.
I agree, Wind. I am a week from KYC and have read this thread particularly. We should start one (or continue this one) for moral support, if nothing else.
I appreciate all the information you guys are putting out, it is very helpful. I got a call today from Jones with my offer, so I am excited, just a little anxious, with what is facing me in the next couple of months, can you explain some of the terminology you are talking about during graduation, evaluation and how things are going. In addition are you guys in smaller communites or larger towns?
I’m in a very small suburb of a decent sized city. So that probably didn’t help you at all.
If i take the position, I will be in the same situation. I am contemplating leaving a 70k job for a start with Jones, do you guys have feedback? I started a thread on here a couple of weeks ago (80k or EDJ) and it turned out to be a bashing between two or three people that went on for 6 pages. Anyways, you guys seem to have good advice and in a good position to keep everyone informed, thanks for the feedback. Any information is helpful while making this decision.
Well i left a 30K job to start a career with Jones. I have never worked a commission only position so its a little new to me. I have a bachelors and a masters so i could probably find a job anywhere from 60K-100K, but i hear this opportunity is like no other so im willing to give it a whirl. I live in Oklahoma City, so i guess its safe to say there are enough people here. Is anyone going to KYC in Oct?
You have to understand that you will most likely take a paycut for the first couple of years. You've got to earn almost $200k in gross commissions in order to net $70K. However, you won't take home $70K after expenses are taken out. That's something definitely worth some strong consideration. On the flip side of that, your $70K per year job is probably only going to get you a raise of 3-5% a year. My income went up by 25% a year for the first few years and didn't plateau until my fifth year. It could possibly continue to go up 25% a year for the forseeable future if I can get my butt out of my chair and back out to meet and greet people. That's the upside of this job vs a corporate job. There are some other things that you've I'm sure heard about, like trips, that would add to your quality of life if you came to Jones. However, it's not a 9-5 job. So, there are some give and take. Take the job. The corporate world will be there if you find out you don't want to do it anymore.If i take the position, I will be in the same situation. I am contemplating leaving a 70k job for a start with Jones, do you guys have feedback? I started a thread on here a couple of weeks ago (80k or EDJ) and it turned out to be a bashing between two or three people that went on for 6 pages. Anyways, you guys seem to have good advice and in a good position to keep everyone informed, thanks for the feedback. Any information is helpful while making this decision.