I don't know where to start but here is a try...I want to be an Investment Rep. I have been in the Automobile Sales business for 17 years. I have done every job from Lot Tech to Used Car Manager. I work 60+ hours a week and I hate my job...there has to be more to life than this...worst part is that I am successful...I make over 100k+ a year and have for the last 10....but I keep coming back to the Investment Rep job..
I am trying to get my finances straight so I can accept a short term paycut for the long term goal....I turn 40 this year and have a wife and 3 kids..
Here are my strengths...
I am a strong prospector who does not care about the long hours, I work them now.
I am a very strong closer, I have done that at a high level for a very long time.
I have moved up or been promoted in every job I have ever done.
I am tired of making other people rich....it's my turn.
I am just asking what are the pro's/cons of what I am strongly considering to move into the Investment Rep jobs..
What can reasonably I expect to handle on a daily basis?
What are the pitfalls?
Reasonable "real" expected earnings?
Anything I missed?
Good Companies to start as a newbie?
Any advice would be appreciated.... Thank you in advance.
just some comments:
How are you a strong prospector having never been in the industry(don’t most people come to the car lot?? That is like my friend who “sells” beer, he doesn’t actually sell, just refills orders)
Promotions don’t matter at this job.
And we know you are bad at research and maybe lazy because most of these questions have been asked(use the search feature)
I don’t even understand the premise of this question: "What can I expect to handle"
Pitfalls: not making it
expected earnings: no way to tell… from $0 to $5MM
good companies: anyone willing to give you a shot
I would remove my real info from the member page… And you won’t turn 40 til next year if your info is correct(which makes me doubt your math skills)
Stay where you are $100K is a pretty good living most places… My guess is that if you are real good it will take you 2-5 years just to get back there.
Wow…I knew I was wasting time here…thanks for the non answers.Can anyone just answer a few question and not be a tool? First time and First post and already someone being the donkey's behind. I did not know about the SEARCH feature. "don't most people come to the car lot" ....yep if you like playing the"Up game lottery" and "Guess who is the buyer" game...I do not. I sold for 5 years and have repeat and referral business that still come in to this day.
Put 50k in the bank, talk to as many firms, banks and FAs as you can, and then go for it.
Btw, you say you are a good closer – more important, do your buyers come back to you for their next car and do they refer you?
When done right sales may be more profitable than management at this point...Yes, I have many repeat and loyal customers although I have not been an "Active" salesman for at least 8 years. I have closed alot of deals for other salesman at this point.
[quote=robertw2010] Wow…I knew I was wasting time here…thanks for the non answers.
Can anyone just answer a few question and not be a tool?
First time and First post and already someone being the donkey’s behind.
I did not know about the SEARCH feature.
“don’t most people come to the car lot” …yep if you like playing the"Up game lottery" and “Guess who is the buyer” game…I do not.
I sold for 5 years and have repeat and referral business that still come in to this day.[/quote]
Yet you posted anyways… The search is like right next to where you logged in.
Reason is this question has been asked and repeated 40x in the last 6 months, from people who are losing their jobs, quitting a good career to enter a speculative field(never makes sense) and so on…
So we have answered the questions before, the most important part is that every question weighs differently for everyone… for example…
I would tell you Jones sucks(use to work there) but if you like the company there is no reason why you should take my advice(i could be a nut bag smoking crack in my pajamas…not in my pajamas )
So call around interview at some places, decrease your expenses, save a year or 2 of salary and make the jump(unless you are getting shoved)…
So true…or you can just be an unhappy lil man sitting in Mom’s basement harassing innocent poster’s, posing as a know it all…I will never know…good day, sir.As far as the Sure Thing for something speculative.....I can ALWAYS go back to the Car Business. (thats where that skills thing goes to work for me.) Always a shortage of "GOOD" management...anyone can suck at thier job.
[quote=robertw2010] So true…or you can just be an unhappy lil man sitting in Mom’s basement harassing innocent poster’s, posing as a know it all…I will never know…good day, sir.
As far as the Sure Thing for something speculative…I can ALWAYS go back to the Car Business. (thats where that skills thing goes to work for me.)
Always a shortage of “GOOD” management…anyone can suck at thier job.[/quote]
Don’t do it.
I’ll share some of my story with you and maybe it’ll help. I was making a career change about this time last year. Had enough of corporate America, always wanted to be a “stock broker”, and learned about Jones and felt like it fit my personality rather well. I downsized my life in a massive way. Built a war chest of cash. I can live on around 35k now having made 150-170k in the past. That meant selling off the expensive toy car, the boat, jetski, and not taking crazy vacations. It means eating microwave lunches instead of eating out. It means living in a cheap town house rather than a nice house. Smaller holidays. Etc. etc.
If you and your family can’t make those changes I think you should reconsider.
My only other point is you really have to go ALLLLLL in on this job. If there is ever another path. Another option. It will distract you and hurt your performance. It’s happened to me twice.
There are some other guys on here that changed and failed ([email protected]) although he’s not given up. And Ronnie Dobbins, although younger, says he has killed it. I think the company is less important than getting yourself ready for a TOUGH TOUGH job.