New respect for new hires that survive!

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Sep 23, 2008 12:02 pm

I realized after 6 weeks of door knocking that this is not for me.

I have a new found respect for all of you FA's that have made it.

Good luck to all and work hard on a very challenging career!!

Sep 23, 2008 2:55 pm

Ice.....be nice

Sep 23, 2008 2:58 pm

It's challenging, but once you make it, it's hard to beat.  Thanks for an honest admission.  You're right...this isn't for everyone and it IS difficult when you start out (it's no bed of roses for us vets in this market either!)


Good luck with whatever you decide to do.

Sep 23, 2008 3:28 pm

Redsox,


I'm glad that you know where you stand. How long did you think you were going to give it no matter what happened in front of your prospect. I wouldn't imagine going into this without being ready to withstand many months of rejection.


Good Luck to you, and I'm only asking to hopefully learn from your experience.

Sep 23, 2008 3:54 pm
iceco1d:

There goes more of your LP Spiff!! 

 
I read this post earlier today and almost made a similar comment.  I guess great minds think alike. 
 
The only reason I didn't, BTW, is because it sounded like he had made a decision already.  He can quit today and be off the payroll by the end of the week.  At least he has the guts to admit he doesn't want to do it.   He wasn't one of those that comes on here for some reason and wants to know our opinion about making a decision that we don't really care about. 
Sep 23, 2008 4:12 pm

It is gutsy Redsox. Best of luck! I wouldn't worry about it if I were you. Realize that we make a living off of clients who have tons of investable assets. There are plenty of opportunities for you to make tons of money and love your work.

Sep 23, 2008 8:02 pm

You don't know how your going to like doing something until you try it.

I didn't like door knocking for 7-8hrs a day with so little to show for it. I understand this is how you get started building your book at Jones and it's a formula that works for them.

I doesn't work for everybody!!



Ps

It's OK Spiff I'm not going to take any more of your LP money!!!

Sep 23, 2008 8:15 pm

LOVE the name. But I gotta admit, not sure how we're gonna do against Anaheim on the road in round 1.

Sep 23, 2008 9:31 pm

iceco1d- no AUM-I'm supposed to go to Eval/Grad next week. I haven't been in front of a prospect for an appt yet.

I just realized that building a business with Jones as a newbie is going to be extremely hard in this business climate and I don't want to go through my savings.

Sep 24, 2008 5:35 am

Redsox,

 
It's fine to decide to not go into this business.  However, your attitude that you don't want to do it because it will be hard doesn't bode well for you as an entrepreneur.  That's not necessarily a bad thing.  Instead, it simply means that you aren't cut out to be a business owner.  It's a positive that you now know that. 
Sep 24, 2008 9:37 am

I appreciate not holding on forever.  It's just like our clients.  I'd rather have a no than a maybe.  Those maybe answers drive us nuts. 



Just so we're making this as clear as possible for you, this business is difficult to start anytime.  Now might actually be an easier time than an up market.  People are really pissed off at the markets right now, which translates to some of them being really pissed off at their current advisor.  Those feeling typically make them more open to talking to someone else. 
 
Do you mind if I asked what the specific catalyst for this decision was?  See, you've been walking around for six weeks now talking to people.  You've made it to within a mere week of being able to turn those conversations you've been having with people into real dollars for yourself.  And now, within sight of the field you decide to take off the pads and head back to the locker room.  Is it really that you think this is going to be hard in this market, or is it just that you're nervous about the phone calls and rejection?  I'm just curious about where the communication breakdown occured.  Because obviously, someone didn't tell you that it wasn't easy starting and EDJ office in any market, not just this one. 
Sep 24, 2008 10:45 am
anonymous:

Redsox,

 
It's fine to decide to not go into this business.  However, your attitude that you don't want to do it because it will be hard doesn't bode well for you as an entrepreneur.  That's not necessarily a bad thing.  Instead, it simply means that you aren't cut out to be a business owner.  It's a positive that you now know that. 
 
I completely disagree. There are myriad ways to be a business owner without being a financial advisor.
 
The fact that he doesn't want to sell investments door to door has nothing to do with whether he can be a successful entrepreneur.
 
Sep 24, 2008 11:08 am

Ice .....absolutely correct in your comments/observations. This or for that matter ANY new business is not for the faint of heart. Not a bad thing just very much different than getting the pay cheque every two weeks , leaving work at the office and taking your annual vacations. Some great corporate leaders well suited for the corporate world but probably could not run a Popcorn Stand ......just a fact.

Sep 24, 2008 11:11 am

Let's get the facts straight. I have nothing against hard work. I'll put in 12 hour days if that's what it takes.

It's more about doing the things that make you uncomfortable. I've been in commissioned sales for 20years making over 100k yr so it's not about wanting to punch the clock for the same paycheck each week.

I don't know why but I'm finding the door knocking part difficult. I'm just not very comfortable with it and at times I can't get out of the car to do it.

I guess I need a bigger set of balls!!

Sep 24, 2008 11:12 am

But now that I'm getting pissed at myself I'm going back out right now!!!

Sep 24, 2008 11:18 am

Redsox....definitely not a knock against your work ethics and habits. To your point " Door knocking " may be the stumbling block. A thought/suggestion make calls on business owners , much more professional and frankly ( my opinion ) does not have the appearance of selling door to door. Speak to employees ie. receptionist etc. while there gives you the opportunity to gain access to more potential clients.

Sep 24, 2008 11:36 am
Redsox08:

I just realized that building a business with Jones as a newbie is going to be extremely hard in this business climate

 
I actually think this market could work to the advantage of you all at EDJ.  You're at a strong privately held company that's not involved in the mortgage biz.  I'd be playing that up big time.
Sep 24, 2008 11:58 am


Iceco1d, you are correct about what I was trying to say.
 
Redsox, read the following:  
 
 
http://www.theintellectualviewpoint.com/reading/thecommondenominatorofsuccess-albertengray.pdf

Sep 24, 2008 12:31 pm
iceco1d:
anonymous:

Redsox,

 
  However, your attitude that you don't want to do it because it will be hard doesn't bode well for you as an entrepreneur.  That's not necessarily a bad thing.  Instead, it simply means that you aren't cut out to be a business owner. 
 
 
Borker,
 
You aren't reading Anon's post correctly.  What he means is that IF RedSox doesn't want to do this BECAUSE it's HARD, then he will be better suited to being an employee at a regular job.  Because ANY new business venture is going to be HARD. 
 
This job, for most, is way more difficult than any other "job" on Earth.  If you are looking for a "job" this is the wrong place to go.  This is an industry for people with entrepreneurial spirit.  Those people that WILL do the things that make them uncomfortable, or highly inconvenienced, in order to succeed - not those looking for the same paycheck every 2 weeks, cheap healthcare from their employer, 2 weeks paid vacation, and done every day by 5:00 PM. 
 
 
 
Redsox didn't say he doesn't want to work hard in general, he said:
 
"I just realized that building a business with Jones as a newbie is going to be extremely hard in this business climate and I don't want to go through my savings."
 
His primary concern is running out of savings due to what he perceives to be a tough environment in which to build a business with Jones. Being afraid of hard work is not the issue, and being reluctant to do the type of work that is required for many years to build a successful FA practice says nothing about whether he'll be a successful entrepreneur in a different field.
 
We'll have to agree to disagree, Ice. 
 
 
Sep 24, 2008 12:38 pm

Anon.....I would suggest that everyone read at minimum and better yet print the article you have provided the link for.....I keep my copy handy for reference.