Did I make the right move?

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Aug 8, 2008 7:43 pm

As some of you know I have been extremely frustrated with high medical and qualified expenses at EJ. It wouldnt even matter if I was producing above average, but I am only meeting expectations. Some other things at home have piled on my dire financial situation and I decided to interview with a few banks. I was offered a job and was completely on board, but after about 4 days I decided that it wasnt what I wanted to do. I felt that I was giving up, looking for an escape and/or something "easier".  Ive decided to do or die with Eddie J.


Did I do the right thing ? If I dont pull this off (success at EJ) it will be ugly. Any comments are appreciated. Thanks.
Aug 8, 2008 8:17 pm

Ron,



Unfortunately, your current firm is always the focus of frustration when things don't go well. Here's what I will tell you...if you consistently exceed their expectations, you will do fine. With all the bonuses in the first 3 years, if you exceed expectations, you should do at least 65K net yr. 1, and more from there on. However, that's IF you exceed expectations.



That being said, Jones has some of the lowest guaranteed income of the major firms in the first few years. If your personal financial situation is really that bad, you might want to consider a salaried position (or a bank that will give you a large base).



Ron, at any firm where you are eventually 100% commission, there will be some lean months.

Aug 8, 2008 8:23 pm

Sales Rule #1:  In order to make a career in this industry, YOU'VE GOT TO ACCEPT AN OFFER AND NOT LOOK BACK ONCE ACCEPTED! You have nothing else to bargain with until you build up some experience. If you don't like your occupation, THAT'S A GOOD SIGN TO GET OUT!

Sales Rule #2: To make sales, you've got to be where sales are made AND THEY'RE NOT MADE AT THE WATER COOLER!

Sales Rule #3: To make sales, hang around those that are MAKING SALES AND LEARN FROM THEM - GOOD AND BAD.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />


 


WE ARE ABOUT GETTING INK ON PAPER - NO MATTER WHO IS GETTING SUED, WHICH FIRM YOU WORK FOR, YOUR PAYOUT, ETC. IF YOU CAN'T CONTROL IT, WHY WASTE TIME TALKING ABOUT IT?

Sales Rule #4: PAYOUT ONLY MATTERS IF YOU PRODUCE!

Sales Rule #5: TAKING YOUR "BOOK" WITH YOU ONLY MATTERS IF YOU PRODUCE!

Sales Rule #6: QUIT READING ALL THESE F****** RULES AND GET ON THE DAMN PHONE!

Sales Rule #7: REPEAT AND FOLLOW SALES RULE #6

Sales Rule #8: YOU'RE STILL READING??? YOU'RE FIRED!!! YOU CAN'T PRODUCE OR FOLLOW INSTRUCTIONS!!!!!

Aug 8, 2008 8:49 pm

Thanks for the rant skip. Maybe someone else can answer my question for you.

Aug 8, 2008 9:06 pm

How on earth would we know if you did the right thing?  You answered your own question for Skippy, if EDJ doesn't work your screwed.  Get on the phone and make it work.

Aug 8, 2008 11:35 pm

Ron, you should be thanking Skippy.

Aug 8, 2008 11:38 pm

Skippy was right on, but I will tell you ...some of the best FA's that I have seen are the ones who "could not fail"...because they had a family and failing meant not eating...their kids not getting food and clothing etc.  They exceeded expectations because they had no other choice and didn't stop calling (or knocking)..until they made the sales.

Aug 9, 2008 3:58 am

Now that is a reply I can use. Thanks kool-aidd.

Aug 9, 2008 9:04 am
skippy:

Sales Rule #1:  In order to make a career in this industry, YOU'VE GOT TO ACCEPT AN OFFER AND NOT LOOK BACK ONCE ACCEPTED! You have nothing else to bargain with until you build up some experience. If you don't like your occupation, THAT'S A GOOD SIGN TO GET OUT!

Sales Rule #2: To make sales, you've got to be where sales are made AND THEY'RE NOT MADE AT THE WATER COOLER!

Sales Rule #3: To make sales, hang around those that are MAKING SALES AND LEARN FROM THEM - GOOD AND BAD.


 


WE ARE ABOUT GETTING INK ON PAPER - NO MATTER WHO IS GETTING SUED, WHICH FIRM YOU WORK FOR, YOUR PAYOUT, ETC. IF YOU CAN'T CONTROL IT, WHY WASTE TIME TALKING ABOUT IT?

Sales Rule #4: PAYOUT ONLY MATTERS IF YOU PRODUCE!

Sales Rule #5: TAKING YOUR "BOOK" WITH YOU ONLY MATTERS IF YOU PRODUCE!

Sales Rule #6: QUIT READING ALL THESE F****** RULES AND GET ON THE DAMN PHONE!

Sales Rule #7: REPEAT AND FOLLOW SALES RULE #6

Sales Rule #8: YOU'RE STILL READING??? YOU'RE FIRED!!! YOU CAN'T PRODUCE OR FOLLOW INSTRUCTIONS!!!!!



Sales Rule #9: MAKE SURE YOUR PARTICIPATE IN ONLINE CHAT FORUMS!!!, but first learn how to use bold and underlined font. See, I'm still struggling there.

Aug 9, 2008 10:57 am

I agree - what is that all about? (I suspect we're just suckers for a free meal.)

Aug 10, 2008 3:04 pm

I have scaled back my wholesaler activity the fund and insurance companies I use. The wholesalers only consist AMF and Franklin, because I use maybe one fund from about 5 other fund companies, so I don't usually show up on their radar. I use 3 or 4 insurance/annnuity companies. I actually find that some of the insurance wholesalers have pretty good knowledge and ideas, but I suspect that this depends on your individual wholesalers. I get many good estate planning concepts from them. I tell my BOA to blow the rest off.

Aug 11, 2008 10:13 am

Ron - as for the issue of Insurance Coverage. Are there other options within your plan with EJ? Or is looking at another Insurer an option?

All that being said , I remember several months ago one of the Members made an excellent comment. To paraphrase - You better be scared when studying for your exam , you had better be scared when you are prospecting and finally you better be scared when closing sales.
The context was that of course nothing is guaranteed and you BETTER MAKE SURE you perform. No sale - no food , no clothes , you get the point. As discusssed , you have obviously done well enough with EJ after two and a half years to have your own office. That being said - perhaps one more call a day , one more client/sale every second day may well get you over the hump.
Aug 11, 2008 10:26 am

I am looking at other insurance options right now and I need to eliminate certain expenses that produce nothing, like newspaper ads and "community involvement."

Aug 11, 2008 10:29 am

Ron14 - One of my good friends is an insurance agent, but he doesnt think the insurance can be improved upon.

Aug 11, 2008 10:57 am
Ron 14:

As some of you know I have been extremely frustrated with high medical and qualified expenses at EJ. It wouldnt even matter if I was producing above average, but I am only meeting expectations. Some other things at home have piled on my dire financial situation and I decided to interview with a few banks. I was offered a job and was completely on board, but after about 4 days I decided that it wasnt what I wanted to do. I felt that I was giving up, looking for an escape and/or something "easier".  Ive decided to do or die with Eddie J.


Did I do the right thing ? If I dont pull this off (success at EJ) it will be ugly. Any comments are appreciated. Thanks.
 
Did you actually leave Jones?  I'm not following when you said "was completely on board, but after about 4 days I decided that it wasnt what I wanted to do".  Or does that mean 4 days into considering the switch?
Aug 11, 2008 10:59 am

There is nothing that will make a significant difference. I don't really advertise and I don't spend any money with the chamber.


I can try the lottery though!
Aug 11, 2008 11:01 am

I did not leave Jones. I was all but committed to going to the bank, but I decided I will stick it out with Jones.

Aug 11, 2008 11:16 am

Ron - if you are meeting the minimum expectations you are surviving in a challenging market. That being said , if you depart you have ( in my mind ) thrown away two and half years of effort. For what? Tough it out , refocus and move forward you may well be getting close to getting over the " hump ". Year three should result in additional trailer fees etc and with new buisness???

Aug 11, 2008 11:25 am

That is the plan

Aug 11, 2008 11:27 am

Ron,



You did the Right thing!!!! Everyone is here is right. Get on the phone and get out and Door Knock. Today, is a great day, the weather is perfect! NO EXCUSE! DO IT!



You will have a much rosier future if you make it through this year! Run through this side ache! You CAN do it.



When you make it through this year, your confidence will be much greater and you will know you can handle it. JUST DO IT!!



The bank will turn you into a restricted robot, and you will NOT make more money.    Here at EDJ the possibilities will continue to increase! Long term you can go more places if you CHOOSE to.



25 good contacts today will get you that much closer! GET AND GO!



Good luck.



Keep the FAITH and trust.



Will keep you in my prayers.