1st two years
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[quote=voltmoie]
Just tell them you know Weddle, Windy. Problem solved.[/quote]
Not sure what your trying to prove here. I don’t even know who this “Windy” dude is. You guys keep mentioning him, but there aren’t any posts for me to look at. One things for sure, save your breath on associating myself with him because thats not the case. I just came across this forum when I registered for the magazine last week.
[quote=Speedynew][quote=Gaddock][quote=Speedynew]
1) What type of criteria did you use to target business on Sales Genie(sales employees)2) WHen you called residential, did you call anyone not on the DNC or break it down by income/networth.
3) Did you ever try using corporate directories?[/quote] 1) I targeted business with up to 25 employees. Reason is I believe it's small enough that one person can make a decision. 2) I used Gryfin (spelling?) even after scrubbing list. I targeted people that had over $500k in equity of their home and people that just moved to the area. 3) I did not but I know people who do with good success.[/quote] Are there a lot of home in your area that are valued above $500K? I am in the midwest (ohio to be specific, without too specifc) and there aren't that many of those in my area, who aren't on the DNC yet have equity of $500K[/quote] I live next to the ocean with a lot of people from up north coming down to retire. Reduce the number OR call them all!
My fist month out was great as I sandbagged during the training period. The next five months were TERRIBLE. All I did was cold call all day and almost half my appointments set were no shows. I don't think I did more than $2k in gross in 5 months combined. Caught a brake in month seven. Month eight was when I actually gained some traction and have been building each month since. Stats for Cold Calling 367 dials a day. 15 became leads (goal was to contact 40 per day). 1 of those becomes a client after 9 contacts.[/quote] But were you angling for their entire portfolio or simply a muni bond order to begin the relationship? I think ACATing a portfolio would take significantly more time than "do you have $25K to put in a muni" [/quote] I was going for the whole ball of wax. In hind sight not sure if I would do the diff had I to start from zero again.[quote=Gaddock][quote=Speedynew]Gaddock, when did you start seeing results (generating comm or fees)?
Cold calling is the best way to build and keep your book from blowing up.As a stockbroker you can take small money for account openings,$5k-$25k, and work on the 2nd and 3rd trade for 6 and 7 figure amounts.
Why acat a portfolio and deal with that headache, when you can make just as much money from accredited and qualified investors who are high rollers and gamblers who enjoy trading the volatility of the market.
Cold calling will always be what you’re business is about, it’s dirty grunt work, but a very important part of sales.
Out of pure blind luck and 25k+ cold calls and knowing how to arb and make money during the insanity has allowed me to get just that type of client. One client has thus far made my career by allowing me to partner with him in running multiple trusts. Had I not earned this clients trust and business I would probably be toast. Point is, that kind of a client is on in a million.when you can make just as much money from accredited and qualified investors who are high rollers and gamblers who enjoy trading the volatility of the market.
[quote=Speedynew][quote=Gaddock][quote=Speedynew]
1) What type of criteria did you use to target business on Sales Genie(sales employees)2) WHen you called residential, did you call anyone not on the DNC or break it down by income/networth.
3) Did you ever try using corporate directories?[/quote] 1) I targeted business with up to 25 employees. Reason is I believe it's small enough that one person can make a decision. 2) I used Gryfin (spelling?) even after scrubbing list. I targeted people that had over $500k in equity of their home and people that just moved to the area. 3) I did not but I know people who do with good success.[/quote] Are there a lot of home in your area that are valued above $500K? I am in the midwest (ohio to be specific, without too specifc) and there aren't that many of those in my area, who aren't on the DNC yet have equity of $500K[/quote] What in the heck is "west" about Ohio?
My advice to anyone starting out is to not open small accounts. Bottom line they are a waste of time and money. You’ll feel good about it because its activity and you’ll trick yourself into thinking this is progression. At the end of the day most of these accounts never turn into anything big and these are the people sitting on pins and needles when the market drops 100 points. Set a minimum household size to start with and stick to it.