Please tell me about EJ cold walking
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I am telling you what works for me. I followed the Jones guidance of doorknocking. Talk to them in person. Get permission to follow up in person or on the phone and do it. Ask them for an appointment or tell them about an investment. It boils down to talking with people. The same as in any other firm. We just put the face to face contact on the front of 5 phone calls instead of the back. Prospects meet us in person and give us their permission to call them. It still takes 5-7 contacts on average to turn them into clients.
Do you have some legit reason for all but calling me a liar?Spaceman,
KEEP ROCKING ON!
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Anybody that claims door knocking doesn’t work or demeans it has issues that should be avoided at all costs. If they are new in the business and saying such things, it’s aversion to prospecting & a career death sentence. If they are successful and saying things that might cultivate the above in others, well … such is foreign to me and never will be understood. Karma will be the final effect.
I applaud your efforts and admire your effort.[quote=Spaceman Spiff]
Our top producer in the firm this year was a guy who started out by doorknocking. Doorknocking led to clients, who gave him referrals. Referrals led to over $2,000,000 gross this year. It does work. You just have to be willing to do it.
[/quote] Why don't you just start with "...one day at band camp" you might be more credible.Why do the same topics keep coming up over and over again? If you need information, just search for it!
Also, that is, in fact, exactly the crap that St. Louis trains you to say. Spaceman and Broker24 are shills who are paid to post in these forums!
ok, degrading. but— what do you do in a small town? if you phone all day, few answer and the purchased lists are short and have the same names on them. they see that you called, so you can’t try daily. you can’t call on businesses daily, as there are only so many of them. seminars work, but once a quarter seems plenty in a small town. that leaves…
[quote=farotech] Why do the same topics keep coming up over and over again? If you need information, just search for it!Also, that is, in fact, exactly the crap that St. Louis trains you to say. Spaceman and Broker24 are shills who are paid to post in these forums!
[/quote]
Have you actually read my posts? If you had, and I mean no disrespect by this, you would understand that I have a rather balanced view of the firm that I work for. I have never, nor will I ever, claim that Jones is perfect. I have simply stated facts about the firm, some of the things I like, and some of the things I dislike. I find it strange that anyone that claims to like ANYTHING about Jones is criticized as some sort of GP suckup, or too stupid to think for themselves. I have never once criticized another firm or another business channel. My eyes are wide open as far as my firm and my employment are concerned. At my point in the business, I simply can’t find any other firm or channel that would be better for ME. Many others would prefer the wirehouse route. I do not. I have nothing against it, I just prefer my setup for now. I think indy setups are fantastic, but can’t imagine starting out in this business without a lot of direction.
The fact is, as it relates to me, I give props to ANYONE that makes it big in this business (ethically), regardless of who they work for (be it an employer or themselves). Just get over the anti-Jones thing - it’s getting old. It’s one of the reasons this board has gone to crap.
[quote=compliancejerk][quote=Spaceman Spiff]
Our top producer in the firm this year was a guy who started out by doorknocking. Doorknocking led to clients, who gave him referrals. Referrals led to over $2,000,000 gross this year. It does work. You just have to be willing to do it.
[/quote] Why don't you just start with "...one day at band camp" you might be more credible.[/quote] I'm amazed that you think that it couldn't work exactly like I said. Mabye it would have been more credible if I would have said he completely ignored the tried and true method of prospecting at EDJ and decided to spend 12 hours a day on the phone instead. He cold called 500,000 people and on the 500,001st phone call he landed a corporate exec who was retiring. That lead to other corporate execs who were retiring. Today I hear Stan O'Neal is going to move his account to this guy in North Dakota too. Everyone needs a good FA. You're a putz.Excert from Bspears diary, 2002.
"It was cold as hell today. Walked from house to house to house and got info on 12 people. 1/2 of these people I felt as if they had killed someone in their past. Oh well, they say to not judge a book by there cover. I will call them in 2 weeks and see if I can get them to buy BAC stock..I have a couple of great sales stories to tell them. I need to call my mentor for some advice. I had someone tell me to get the hell off their porch or they would shoot me. I need to know if I should call him in two weeks. They say I need to contact 7-9 times to make them a client. He might be that one person who has 40 million in an IRA at the bank making 1%. Just finished my notes in the laptop. My feet are thawing...wow...walking through the snow and slush is hell, but I know if I continue to do this I can win a trip for selling stuff. Off to bed, I need to meet 37 people tomorrow to catch up on my 25 per day."Bspears diary, 2002
Still cold today. Had several great contacts today. One older lady I met today has a 5k cd coming due and would like for me to get her a new one, just to help me out. What a nice lady. I wonder how much I will make on the 3 month cd? Another gentleman has 2k in savings bonds he wants to cash out and buy some stock. Oh yea..BAC. Again today, many doors knocked on, few people who would talk with me. Had one lady tell me to get a real job. She must have not heard me say I was with Edward Jones. Oh well, she''ll rethink that once I call her on the new 30 year 5% tax free bond. Talked with another retiree who said he lived on social security. I doubt that, need to put in multiple phone calls to get him to fess up to his investments. Another nice gentleman told me if it didn't work out with my door to door sales, I could mow his yard this summer. 15$ per time. WIll consider, need to pay the bills. After several weeks I'm wondering were all this easy money is. I was told by my home office trainor, 25 a day, dk, call, dk, call....I'm afraid I won't know what to talk about again, once they say, no or hell no or they work with their son....hmmmmmmm Starting to feel kinda slimy with this door to door sales technique.Excerpt from Bspears diary, 2006.
This has been a rough month. The cold calling I've been doing because I don't want to doorknock hasn't panned out for me. I can't call those same clients again. I just switched their funds around last month. Mom and Dad don't have any more money. Those four contacts I made at the Chamber of Commerce lunch last month didn't go anywhere. Mabye sometime in the future, but not right now. Postcards are too impersonal, so I'm not going to try that. I'm not about to buy a bunch of people lunch if they aren't going to buy something from me. I just don't know what I'm going to do. I know that other guy in my training class said he does that stupid doorknocking thing. Man I wish I was in Segment 4 like him. If I don't think of something in the very near future I'm going to have to start looking at other opportunities. If Jones had any real marketing plan I wouldn't be in this mess. Maybe those guys over at LPL really do have the answer. They say people will just start throwing money at me if I wasn't under those GP's thumbs. I'll have to give that some serious thought. You know, if I have to jump over there mabye I can bring 80% of my book with me and tell them I'm going to become a financial planner. I sure can't do that right now. I can tell them I'm going to a fee based relationship and it's going to cost 1% to continue to do biz with me. Yeah, that will work! They'll think I'm a genious!Spiff…1:14PM…market’s open. Why are you wasting your time?? Shouldn’t you be out knocking on doors??
[quote=Spaceman Spiff]My average is 1 in 5 houses I find someone at home. If you are going to take the time to go residential, make sure you start early. 9:00 is when I try to get out. I’ve tried 8 before, but I catch people headed to work and they really don’t want to talk right then. When it stays dark longer the evenings are a great time. 3:00 until dark is a great time.
The "pitch" is pretty simple. Intro yourself, tell them who you work for, tell them what you are doing and ask some basic questions. Some people will really open up to you at the door. Make sure you have something to leave with them. Biz card isn't enough. It can be something as simple as a dividend paying stock report or as in depth as a sample portfolio analysis. Up to you. The goal is to get permission to call them back. That's what takes practice. You'll suck at it at first. You'll meet people doorknocking you won't get the chance to meet mass mailing, doing seminars, or cold calling. Not that those are bad, just that they don't always have a great response ratio. If I can talk with 25 people I'll come away with normally 2-3 people who will almost immediately turn into appts, 2-3 people who won't ever talk with me again, and 20 people that I'll drip on for a year. Some of those will become clients, some won't. People are generally friendly. I've never been run off of a porch with a shotgun. I did have a dog ruin a pair of pants when his teeth grabbed the cuff. I sent the owner of the house a thank you note with a bill for my pants. It's worth the time. It's cheaper than mass mailing and more effective. It's more interesting than cold calling. Better excercise too. Seminars are great, but how much more successful would they be if you had a list of people who you've already met that you're inviting. Try it. You may like it. [/quote] spaceman, This is what you need to tell the newbies. What YOU have done personally NOT you have heard others at your firm "claim" hence the "....one day at band camp" statement.Bspears diary 2007
Wow what a wonderful change. My move to Indy has been nothing but awesome. I've handed out more of my business cards in a month than I did my whole time network marketing for Jones. I'm glad I don't have to go to the amway style meetings anymore.
Asked to lunch by local CPA. Seems as if he has lunch with other CPA's once a quarter, and would like to introduce me. Whew...I was hoping he wasn't mad at me when I sold his father a GMAC note, and its worth about 70% of value while at Jones.
Can't believe the payouts here!!!!!! I was use to a 35% payout and now...how can that be. Jones always told us this was the best they could do. I guess most network marketing firms end up out of business anyways.
Cold called a guy off my "old list" today. Seems he has an IRA with Merril Lynch and hasn't heard from him for awhile. Asked for an appt and he accepted. It can't be this easy.......I think I will take off at noon today and go fishin'
Spiffy Diary 2007
I wish everyone would leave me and Jones alone. I can't take this anymore. Its affecting my home life and I now I just hole up in my green office with the lights out. I know my kids are embarrassed when I'm out walking the streets and they drive by in the school bus. If I could just get that 85 year old to cash her cd's out and buy these A shares, I would keep above standard and keep the lie going. Maybe 1 more call to her and then I'll conveniently swing by this afternoon. Wish my luck....I need it right now.Excerpt from Bspears diary, 2006
Just switched to LPL, don't have time to call clients because they are calling me wanting to switch. 50% of my book switched in first month. Jones was right I didn't manage all of my clients money, but now they are bringing in accounts that they said they did not have... without me even asking about them... again... I guess my clients know the difference between a employee and a business owner after all.... WOW more choices for my clients that need them and the same choices for those that don't.... For some reason my paycheck is a whole lot bigger... I am such a IDIOT... I should of done this a long time ago.... _________________________________________________________________________ Excerpt from Spacemanspiff diary, 2010 .............. I am such a IDIOT... I should of done this a long time ago...Dam doneWjones…How did you get my diary??? All kidding aside, I believe whatever someone does in this busines to turn prospect to client, dking, calling or combination…if you do it with conviction and you believe in it…it WILL work and you WILL be successful.