Which Office Location is best?

or Register to post new content in the forum

43 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.
Jul 5, 2009 12:01 am

OK folks, so I'm starting with Jones now and still have some flexibility in my office location and I am really trying to narrow it down here.  I already chose a primary and a secondary, but there is room within those, so basically, I need to pick between these three.  Any insight would be greatly appreciated.

1)  This is in a town with ~20,000 people and two other EDJ offices.  One guy has been around about 7 years and the other guy more than 20 years and is a million+ dollar producer.  The 20 year guy seems to be well known around town... even some people mentioned him by name when I was doing my surveys for my job interview.  Both of them have "nicely" suggest I look in other areas, but I think it's because they don't want another person digging around in their back yard.

2) This is a town with only 5,000 people, but has an existing office.  The office is in a TERRIBLE location that is very difficult to find.  I have been driving almost right by this office for almost 10 years and never knew it existed. It's inside a dumpy, hidden office building with no signage.  It was opened recently by someone who knocked on every door in the area.  When another office opened up nearby, he took the assets with him and took a better location.  They then gave the office to another new new and this person failed at this location and was fired.

3)  This location is in a very secluded community of about 6,000 very affluent people.  There would be no logical place to prospect out of this area due to the way it is geographically isolated.  There is a large corporate HQ here with 20,000 employees, but I don't know how to realistically tap into this (gated) corporate entity.  The big producer from town #1 suggested that I go here because he thought is would be a good opportunity, but I don't know if he's just trying to get rid of me.

Any thoughts?

Jul 5, 2009 10:53 pm

pick the one located near the busiest Subway restaurant.

Jul 5, 2009 10:58 pm

I saw one that shared office space with a Papa John's Pizza and one that sat between a local check cashing place and an Auto Zone. So I would say you can't loose with any of your three choices.

Jul 5, 2009 11:34 pm

If those guys are already established I doubt they are leading you down the wrong path, you are not going to impact them.  I'd go with option 3 and door knock in 1 & 2 also.  Just ask the guys if you can use their office for client meetings while you're getting started.

Jul 6, 2009 5:59 am
3 looks like a high risk/high reward opportunity. 6,000 affluent prospects and a major corporation with 20,000.00 more prospects seems like a good place to start in this business.




If you want to "tap" into this community, market yourself to them. Get in with a few employees of that company and have them spread the word. Sounds like 401K rollover opportunities to me.



Good Luck!

Jul 6, 2009 9:52 am

You can be successful anywhere.  Think about where you want to live for the next 20 years and make your decision based on that.

Jul 8, 2009 3:36 pm

henryhill gives good advice. although, if you have an MBA a more prestigous wirehouse might make more sense and use EJ as your fallback if you fail out in your first run.

 
EJ is always hiring. ALWAYS. It is a simple job to get., but hard to do.
 
Most large firms won't hire you after/if you fail out of Jones though. At least that has been the exerience of the people I know.
Jul 8, 2009 3:42 pm

Henryhill just got out of eval / grad .. He knows as much about success in this industry as me. JACK

Jul 8, 2009 3:45 pm
voltmoie:

JACK





Did somebody say Jackson? Shamon!

Jul 8, 2009 4:13 pm
voltmoie:

Henryhill just got out of eval / grad .. He knows as much about success in this industry as me. JACK





i thought henryhill was a Seg 5 broker?

Jul 8, 2009 4:48 pm

Volt,

 
Been w/EDJ for over 10 years and I am seg 5.  I know a fair amount about what it takes to be successful in this business.  I know Jack; and his friends Jose, Johnny and comrade Smirnoff.
 
Henry
Jul 8, 2009 4:58 pm

Uh Oh. Volt just got bitch slapped. Little Mr. Know-It-All! That deserves a moonwalk!

Jul 8, 2009 5:15 pm
voltmoie:

If those guys are already established I doubt they are leading you down the wrong path, you are not going to impact them.  I'd go with option 3 and door knock in 1 & 2 also.  Just ask the guys if you can use their office for client meetings while you're getting started.

 
I agree.  The option A means you're constantly competing with two other known entities in town.  Leveraging centers of influence will be more difficult.  With #2 you're fighting the stigma of how long is this one going to stick around?  Offices that have been revolving doors in a small town aren't typically the best.  The ONLY way I'd go to town #2 is if I got Jones to relocate the office space to somewhere better.  You didn't mention if there was already a Jones presence in town #3, but if not, that's a gold mine. Big local business means rollovers, client education, insurance, and all the other things that go along with it. 
 
With all that said, if you hate the town you live in, it doesn't really matter.  If, for example, you've always wanted to live in Colorado, but you think you're stuck in Iowa, move to CO and start your Jones office there.  My wife and I discussed KC, Louisville, and a couple of other locations in the midwest before finally settling down in a suburb of STL.  I actually passed over a $20MM office in a one office town because she couldn't see herself living there.  We love where we live and even if for some reason I ever leave Jones and this business we're staying where we are.  Unless one of the FAs in my home town where my parents live decides to retire and give me his $80MM book.  Then I'm moving to the country. 
Jul 8, 2009 7:03 pm
henryhill:

Volt,

 
Been w/EDJ for over 10 years and I am seg 5.  I know a fair amount about what it takes to be successful in this business.  I know Jack; and his friends Jose, Johnny and comrade Smirnoff.
 
Henry



Henry, I'm sorry.  I thought you were someone else.  Keep drinking..

Jul 8, 2009 7:11 pm
MJ:

Uh Oh. Volt just got bitch slapped. Little Mr. Know-It-All! That deserves a moonwalk!



Just beat it

Jul 8, 2009 8:54 pm
voltmoie:

Henry, I'm sorry.  I thought you were someone else.  Keep drinking..



See Windy and Polesmoker, et al?  That's all it takes.  A quick and simple apology and we move on.  Wasn't so hard now, was it?


Jul 8, 2009 8:56 pm
Morphius:
voltmoie:

Henry, I'm sorry.  I thought you were someone else.  Keep drinking..



See Windy and Polesmoker, et al?  That's all it takes.  A quick and simple apology and we move on.  Wasn't so hard now, was it?


 
Jul 8, 2009 9:23 pm

Seriously. Why does all this Windy guy's posts have (.) on them. You are talking an awful lot of smack, but I don't see anything to make fun of. If there is, please let me know so I can join in.

Jul 8, 2009 9:30 pm
MJ:

Seriously. Why does all this Windy guy's posts have (.) on them. You are talking an awful lot of smack, but I don't see anything to make fun of. If there is, please let me know so I can join in.

 
He is older than 9 so you probably wouldn't be interested.
Jul 8, 2009 9:45 pm

I'm not here for that, although I will take your wifes number.