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Rude Awakening at Edward Jones

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Apr 8, 2009 12:52 pm

I guess it’s good to have a recipe and a script; especially when you are training 2,000 new reps a year.

But, in my opinion, to be successful in sales (and to make it through the first 2 years), you really must enjoy what you are doing. I think it doesn’t matter if you are on the phone or in person; if you talk about fishing or munis; wear Armani or Flannel (yeah, I’m talking about you, Maine). In the end, the people who will succeed find a way to wake up every morning with a true feeling of  joy for this job…and this is where I want to be. 

At KYC, I was told my phone calls could be monitored. Maybe, this is my real sticking point. I know I will not be a successful salesperson if I’m being forced to read a script while someone listens in. Reps who get the big accounts quickly do so because they find a way to connect with their prospect…not because they said “buy some…”. And in this respect, if your prospect is passionate about fishing, you will have great success if you bring this into the conversation.

I think I’ve gained a greater respect for the Jones model through reading this thread. What Jones is giving us is a foundation. It is a model that works no matter how old or young someone is; how experienced or inexperienced they are. Yeah, it’s a numbers game and may become a little tedious at times. But, when your sales numbers are down, you know what you can do today to get them up again…maybe that’s why Jones is so successful.

Thanks again to everyone who posted! You’ve been a big help!
 

Apr 10, 2009 1:15 am

Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.


Apr 10, 2009 1:15 pm
buyandhold:

Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.

  Reminds me of the Bill Gross "Cherry Picking" method.  It makes sense.  Unless you have already "made it" those undreds of people in your database can just suck up valuable time that you can't get back.
Apr 30, 2009 1:55 pm

I think you actually meant, Bill Good’s “Hot Prospects”. I’m about 50 pages in and I’m loving what I’m reading. Thanks for the tip!

Apr 30, 2009 2:53 pm

Yes, that’s the title of the book.  I was referring to his concept of Cherry Picking in the book.

Apr 30, 2009 3:40 pm
B24:

[quote=buyandhold]Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.

  Reminds me of the Bill Gross "Cherry Picking" method.  It makes sense.  Unless you have already "made it" those undreds of people in your database can just suck up valuable time that you can't get back.[/quote]    - Absolutely find the willing. My region taught me to call the same prospects for years and years on end. 50-60 months of monthly message leaving. In the beginning I was finding new and willing prospects (which was happening naturally through my initial doorknocking), when that stopped and I just started pounding the 800 names I had it was game over.
Apr 30, 2009 6:48 pm

How did you go about finding more willing?  At what point did you decide they were not really willing?

Apr 30, 2009 8:05 pm

Good question and it is different for everyone, but as you go you will get a feel for who is d***ing you around. I would say 5-7 discussions and if the aren’t willing to meet, NEXT !

May 4, 2009 3:09 pm

I hate it when newbies like yourself come out acting all c@cky… Truth is you will likely fail! There is a 90% chance of it and with your attitude I would advise you to just quit!



My $ .02



Miss J



[quote=Still@jones] I’m a new FA who just recently finished KYC and I’m struggling with the

whole idea of getting phone numbers. The main reason I am having this

problem is that I just do not like the idea of pitching over the phone.

The face-to-face strategy was the #1 reason I chose to work for Jones

(I had 3 other offers) and I am very disappointed to have these new

expectations. I believe, if I bust my a$$, I could knock on

every door in my town at least once every month and I feel I have the

drive and motivation to do this. For people with whom I have a genuine

conversation (not some bull-s**t conversation about their lawn gnomes)

I would call and try to set up an appointment and have the opportunity

to make my sale. The rest, I would follow up in person and possibly

have a better conversation now that they know me. This is what

I call relationship sales and this is what I signed on to do. I’m very

disappointed about the eval/grad requirements and have been seriously

questioning my decision to join Jones. If there is anyone who can offer some feedback or advice, it would be greatly appreciated.

[/quote]

May 4, 2009 9:59 pm

You’ll make a great mom someday, Miss Jones.

Worthless child: Mom, I can’t figure out my homework. 
Mrs Jones: Truth is you will likely fail! So, don’t try and don’t ask for help. You c@cky sonofabitch!

ps: I’ve been taught that saying “I’m struggling” and asking for “feedback or advice” is the exact opposite of c@cky.

May 5, 2009 1:07 am

Still@Jones, going back to the earlier posts before this degenerated into a cat fight, I too am between KYC and Eval/Grad.  I have had a good deal of trouble getting the 25 "quality" contacts on a daily basis.  I have basically learned the hard way that this is a game we have to play to get to the promissed land.  First I went out with a local rep fairly fresh out of PDP to see how he did it.  We spent about two hours door knocking without 1 contact.  At one house the owner's son answered the door, he asked him for the phone number.  He let me know if you can get it, that counts as a contact (definitely not KYC approved).  Second, I was getting frustrated and sent an e-mail out to my ATL and CC'd my RL.  My RL called me promptly and said, "just get the numbers to keep them off your back", if a dog chased you at that house, it was a contact.  Print out the directory for your service organization and log them (Just make sure later they know you may call them!).  The third happened the other day.  Talking with my ATL, they were concerned that my contact list did not have any contacts without phone numbers!!  I had assumed it wasn't a contact without a phone number, and am furiously pounding out dozens of contacts, that seemed could be quality, without the phone.  I could move about $1mm in rollovers and sell at least $100K in munis tomorrow if I had the sell date, but my "contacts" are behind.  This is truly just part of a training process that lets us know the general rules of the game, and weeds out the unworthy.  I truly believe the earlier posts were dead on.  Just get what you need for Eval/Grad, take your lumps, and then it is game on!

May 5, 2009 1:15 am

If it makes it easier for you guys, when I was with Jones I got so sick of not getting the phone numbers when I asked I just stopped asking. If I had a good conversation they were going to be called if I could find their phone number. Out of 1500 prospects only one dude called me out on it, I told him sorry for the mistake and that I wouldnt bother him again. Click.

May 5, 2009 1:19 am

Whitepages.com baby!

May 5, 2009 1:25 am

yes sir, people will remember you came to their door and thats all that matters

May 5, 2009 2:14 am

absolutely, gave him the bill good

May 7, 2009 2:38 pm

[quote=Still@jones] You’ll make a great mom someday, Miss Jones. Worthless child: Mom, I can’t figure out my homework. Mrs Jones: Truth is you will likely fail! So, don’t try and don’t ask for help. You c@cky sonofabitch!ps: I’ve been taught that saying “I’m struggling” and asking for “feedback or advice” is the exact opposite of c@cky.

[/quote]



I just call it like I see it. I am a trainer with Jones as well as a mentor so that affords me the opprotunity to see loads of new FA’s. I always know which one are going to make it and which ones aren’t just by what they say in the first few minutes. If you were my trainee I would help you and encourage you but your not and therefore I don’t care. I am just being honest. You won’t be here in 6 months… Who cares, some new trainee will take your spot and we will be having this new conversation with them.



Right BSPEARS?



Miss J

May 7, 2009 3:21 pm

You are absolutely right Miss Jones!  I love honest, aggressive and sexy trainers. If you were my trainer, I might have stayed...

May 7, 2009 7:17 pm

If Miss Jones was really honest, aggressive and sexy, she would be an FA. 

May 7, 2009 7:21 pm

Do people really leave Jones after just six months? I figured most stay at least long enough to siphon off some of Spiff’s LP, and then bail when the salary goes away.

May 7, 2009 7:26 pm
Still@jones:

If Miss Jones was really honest, aggressive and sexy, she would be an FA. 

  She is.  And evidently a pretty good one if she's doing all those things this early in her very promising career.