EJ Door-Knocking - Do you have to?

or Register to post new content in the forum

29 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 14, 2007 9:27 pm

I am in the last stages of the interview process with EJ, and have not looked heavily into other firms (other than reading lots of interesting comments on here). 


Broker24 - I would be interested in speaking with you via phone if you're available to do that. I have met with and spoken with several EJ IRs, all at different points in their careers. 


I am trying my best to do my due diligence in researching this opportunity - but am wondering if I should slow down and look at some others.  However, from the little I know about others compared to EJ, I feel my personality best fits with EJ. 


My question:  My understanding is I need to make 25 qualified leads per day, which translates to making 100+ contacts daily. 


It looks like in order for me to "work smarter," I would need to target my prospects to biz owners, using D & B directories, etc.  I know you have to log in your prospects each day, do they "check" to see that your prospects have come directly from door knocking?  (ie, checking addresses?)


Just wondered how this was handled. 


Jan 14, 2007 9:47 pm
acktucker:

I am in the last stages of the interview process with EJ, and have not looked heavily into other firms (other than reading lots of interesting comments on here). 


Broker24 - I would be interested in speaking with you via phone if you're available to do that. I have met with and spoken with several EJ IRs, all at different points in their careers. 


I am trying my best to do my due diligence in researching this opportunity - but am wondering if I should slow down and look at some others.  However, from the little I know about others compared to EJ, I feel my personality best fits with EJ. 


My question:  My understanding is I need to make 25 qualified leads per day, which translates to making 100+ contacts daily. 


It looks like in order for me to "work smarter," I would need to target my prospects to biz owners, using D & B directories, etc.  I know you have to log in your prospects each day, do they "check" to see that your prospects have come directly from door knocking?  (ie, checking addresses?)


Just wondered how this was handled. 




I'm a newbie in the final stages as well (with a different company though) but in my opinion if you feel like you have to deceive the company you are working for......it may not be the right one for you, not to mention a bad way to start an "ethical" business.

Jan 14, 2007 9:51 pm

I have no interest in deceiving anyone, my question is if you have the freedom to prospect in other ways or if they limit you to door-knocking in the beginning.

Jan 14, 2007 10:21 pm

What are they going to do....follow you around, spy on you and make sure you are really knocking on doors?  You can fake as much as you want to.  Its not a really good idea to fake it...you are only hurting yourself.


Actually what they want is for you to make enough contacts with new people every day during your beginning times so that you will be able to weed out or distill down to some actual clients.  I don't think they really give a flying fig how you get clients and assets as long as you do it.


That being said, there is nothing wrong with door knocking, and that does include going physically to businesses as well as residences. I did it** and didn't mind it much. Sometimes it was almost fun .I got some very good clients and referrals that way.  I also know some other Jones reps that never knocked on doors and were successful.


** I'm not with Jones anymore so I'm not giving you a kool aid response.

Jan 14, 2007 10:28 pm

Good point, Looney.  I wasn't envisioning someone spying on me..  Why is it people on this forum automatically jump to the conclusion that someone has a different agenda in mind?!  It's kinda funny actually...I guess that's what happens after awhile in the industry?


I am interested in the opportunity, have great drive and have cold-called extensively before...just not to residences.  I don't mind it either, I enjoy meeting new people and built rapport quickly.


I've read some threads with some great info on them regarding prospecting, what people would've done differently in the beginning, etc.  I just want to be armed with as much info as I can starting out!


But...I do love the Kool-Aid comment.

Jan 15, 2007 3:21 am
acktucker:

I have no interest in deceiving anyone.....


So is there a different term for NOT doing what you're supposed to and trying to make it look like you did?


But seriously, Babs is very knowlegable about Jones and very helpful to us newbies. She knows far more than I do about EDJ.


We are pretty much in the same situation except I would rather door-knock than cold-call but the firm I will be working at teaches the cold-call method.  I plan to discuss my plan with them and if they still insist that I cold-call for 12 hours a day, well that still leaves 12 hours to door-knock, I don't plan on sleeping the next couple of years anyway.


Jan 15, 2007 9:21 am

acktucker,


    The 25 contacts a day is what they track, not where they come from.  You have to log your contacts into the system and schedule them for follow-up.  The part I would caution you on is the follow-up.  If you truly make 25+ contacts a day and schedule follow-up and continue to make new contacts, it becomes a very large, unmaneagable gorilla.  As I said in the other forum, I think Jones will train you well, but you will soon figure out that some of the things they charge you for to justify keeping 60% of your gross just aren't necessary for you to suceed in the business.

Jan 15, 2007 9:25 am

Tucker-


Though you technically don't have to "doorknock", you have to come up with REAL leads somehow.  If that means cold-calling, then go for it.  If you know how to do it and are good at it, then maybe that fits best for you.  However, I would not broadcast that very loudly to your trainers (while still in the training period).  Yes, Jones does like you to truly doorknock in the beginning, as it gets your face out there, and gets you used to prospecting.  But you could also do 100% business doorknocking if your location supports it (meaning enough businesses in area).  Once you are selling, they don't care how you get business.  They just want to make sure they supply you with a process and method for prospecting before you start.


One thing I would say is that if you are NOT going to use any of Jones' methods or training, you should be absolutely sure you know how to do it on your own first.  Me, personally, I didn't have a CLUE how to prospect before starting, so I had no choice but to follow someone else's lead.  Now, I rarely "doorknock" in the truest sense.  I really just network for referrals and leads.


PM me if you want more info.

Jan 15, 2007 9:31 am
FreeFromJones:

acktucker,


    The 25 contacts a day is what they track, not where they come from.  You have to log your contacts into the system and schedule them for follow-up.  The part I would caution you on is the follow-up.  If you truly make 25+ contacts a day and schedule follow-up and continue to make new contacts, it becomes a very large, unmaneagable gorilla.  As I said in the other forum, I think Jones will train you well, but you will soon figure out that some of the things they charge you for to justify keeping 60% of your gross just aren't necessary for you to suceed in the business.



Free-


Good point, although for most Newbies, pouring over hundreds of leads is the only way to really learn the business early on.  Without experiencing many different prospecting situations, you are ill-equipped to evaluate leads and learn where you want your business to go.  It is important to learn fairly quickly, though, that you cannot manage 25 NEW leads a day for an extended period of time (unless you are the dial-for-dollars stock-junky type).


As far as the 60%, well, it is what it is.  I'm not sure what it has to do with the discussion.  It's fairly comparable to the rest of the non-Indy world.

Jan 15, 2007 10:15 am

tucker,


There will be plenty of time to work "smarter" later.  In the beginning you need to do it the way they teach you to.  You have to get business early and their system is designed to help you do that, even if it isn't meaningful business.  If you try and bypass this you could die on the vine waiting for that first sale.  Once you get in the flow of things, if you can put aside procrastination, you will find you can have 25 contacts in about 5 hours (or less) of actual work time.  Then use the rest of the time to work "smarter".  Oh, and then spend 3 hours at night entering all the info into the computer.


If you think there is a better way, then go find a company that supports that.  You say you think EDJ is the right fit for you, but EDJ is doorknocking.  That is a big part of their culture in getting your business established (but certainly not the only way to be successful long-term).  If you like the more folksy approach and serving middle class clients then AGEdwards and others my be good options as well.


Jan 15, 2007 10:56 am

All good points - thank you.  I always planned to door-knock, just wanted input on whether I could use other methods as well in the beginning.  I do very well on the phone, and even better in person.  I'll just need to manage my time doing both as best as I can.


Since the success rates are what they are, I want to have a "plan" from the get-go to ensure I'm doing everything I can to work smart before finding myself in a situation when backpeddling isn't an option.

Jan 15, 2007 4:36 pm

I would talk to a few other firms before starting with Jones. 
Nothing against them at all.  I just think you should compare
first.

Jan 15, 2007 4:43 pm
acktucker:

All good points - thank you.  I always planned to door-knock, just wanted input on whether I could use other methods as well in the beginning.  I do very well on the phone, and even better in person.  I'll just need to manage my time doing both as best as I can.


Since the success rates are what they are, I want to have a "plan" from the get-go to ensure I'm doing everything I can to work smart before finding myself in a situation when backpeddling isn't an option.



ACK- Doorknocking is a very inexpensive way of advertising.  There is an inverse relationship between results and doorknocking. The better results that you have the less pressure you will have to doorknock. 

Jan 15, 2007 8:46 pm

Let me put it in very simple terms. I'm a new broker with Jones and i'm

having fun right now with door-knocking. I have found all the little tricks

that go along with generating business. Door-Knocking is an outstanding

way to generate business, not to mention IT'S FREE!!!! Of course if you

want to be a stickler, gas costs money.



Just a few tips. Look into setting up a little table at your local mall for the

weekend right off the bat and just let the people come to you. You will

grab some accounts or find out who has some money and definitely grab

their phone number. After you get that number you use the Jones training

and show them what you can do for them.



Whitepages.com reverse address will become invaluable as well. If your

like me sometimes you don't exactly get the name spelt right or forget to

get a piece of info. That website will show you everybody on the street

who owns a house and would make a decent client. Use it wisely and in

conjunction with the door-knock introduction method.



As for everything else, just remember this business is a numbers game

and the more contacts you make the more business you generate. If you

can make 25 quality contacts and you can carry on good conversation

your going to find you will do better than someone who hits 5 houses a

day and then slinks back to their office for computer work.



Computer work is just the baggage that goes along with the REAL work.

Working at Jones or any other firm entails making money. To make

money you need to generate business and you need to do that everyway

possible including the door-knocking model.



Remember: Door knocking is the Jones bread and butter but who says

your limited to that? You think that St Louis would turn down money just

because you grabed that client from a phone call instead of a handshake

and a tip of the fedora?

Jan 15, 2007 9:53 pm

JB - THANK you.  I appreciate your comments, I will definitely do that~

Jan 16, 2007 2:10 am

I've been doorknocking for 4 months and it has not landed me one single account. Granted I have built some great relationships that will florish eventually but I am still convinced that, though it may be inexpensive, it is one of the worst ways to go and meet people. Spending 8 hours walking and hoping you're lucky enough to find someone at home is putting prospecting out of your control. Yes, there are days when it takes 3-5 hrs but there are days when it doesn't happen at all.


And that is my biggest gripe. You truly have no control. My time is too valuable to be wasting it hoping I catch the Smiths at home. At least with Coldcalling, I don't have to walk to other people's numbers. Dial, no answer, dial another number repeat. Fast, more targeted, and still effective (imo).


Let's also not forget that they are also bombarded by other people knocking on their doors.


If people are on the DNC lists, what makes you think they want to see your face at their door?

Jan 16, 2007 12:22 pm
jbarnes:

Let me put it in very simple terms. I'm a new broker with Jones and i'm
having fun right now with door-knocking. I have found all the little tricks
that go along with generating business. Door-Knocking is an outstanding
way to generate business, not to mention IT'S FREE!!!! Of course if you
want to be a stickler, gas costs money.

Just a few tips. Look into setting up a little table at your local mall for the
weekend right off the bat and just let the people come to you. You will
grab some accounts or find out who has some money and definitely grab
their phone number. After you get that number you use the Jones training
and show them what you can do for them.

Whitepages.com reverse address will become invaluable as well. If your
like me sometimes you don't exactly get the name spelt right or forget to
get a piece of info. That website will show you everybody on the street
who owns a house and would make a decent client. Use it wisely and in
conjunction with the door-knock introduction method.

As for everything else, just remember this business is a numbers game
and the more contacts you make the more business you generate. If you
can make 25 quality contacts and you can carry on good conversation
your going to find you will do better than someone who hits 5 houses a
day and then slinks back to their office for computer work.

Computer work is just the baggage that goes along with the REAL work.
Working at Jones or any other firm entails making money. To make
money you need to generate business and you need to do that everyway
possible including the door-knocking model.

Remember: Door knocking is the Jones bread and butter but who says
your limited to that? You think that St Louis would turn down money just
because you grabed that client from a phone call instead of a handshake
and a tip of the fedora?



So GLAD this is where you are concentrating your business.  Now, I know the people I turn down have a HOME at EDJ.


What kind of idiots would find a financial advisor in a Mall?

Jan 16, 2007 1:10 pm
vbrainy:

So GLAD this is where you are concentrating your business.  Now, I know the people I turn down have a HOME at EDJ.


What kind of idiots would find a financial advisor in a Mall?



The same kind that would agree to meet with someone who cold called them.   

Jan 16, 2007 1:28 pm
Spaceman Spiff:
vbrainy:

So GLAD this is where you are concentrating your business.  Now, I know the people I turn down have a HOME at EDJ.


What kind of idiots would find a financial advisor in a Mall?


The same kind that would agree to meet with someone who cold called them.   





    

Jan 17, 2007 7:44 am

If you are interested in meeting people and getting your business off the ground, door-knocking is the best! Do it and you will find that it's really kind of an interesting process. It may even be fun. I enjoy it and I have been doing it for many years. People respect a person willing to get off of their butt and in the field.


boggle0305@yahoo.com email me if you would like the address of a new EJ forum


Good luck!