I started at a mid size firm going on 2 months now and what I was told before I took the job has not happened. I have never cold called or done any form of prospecting. On my first day I was told to sign into hoovers, creat a filter and call them no scripts or rebuttals nothing. The most feed back I got was that I am not getting any leads and what I am doing is not working. I am not one to bitch and moan about things but when I relocate and leave my wife and son behind because I was told I would be trained and helped along the way pisses me off a bit. So here I am no money no prospects no leads and dont know what to do. Any of you guys on here have any suggestions on what to do, how I can get better on the phone, anything would help.
I am confused as to how you can have "no leads" when you have access to hoovers. Thats an unbelievable database.
Also, I am at a loss as to how you can have "no scripts" when you have access to this site.
What it sounds like is that you are not curious as to how to alleviate your problem, but rather would prefer to simply complain about it and blame someone else.
Over the course of 2 months I built a very focused business lead list that has over 6K names on it and I did it for free. You have access to the best paid information site in the world (hoovers is run by D&B) and you are complaining?
The formula is simple:
1) Search and read "500 day war" on this site.
2) take 1 day and build a list.
3) Talk to the owners about about saving on taxes (whether you pitch munis, retirement funds - they NEVER know how much they can actually put away tax free).
4) do it for a few months without quitting
5) start knocking down accounts.
There is more free, good info on this site than should be legal. The formula has been laid out, now decide whether you would like to use the formula or bitch about how hard the formula is.
Its simple, but not easy.
I see this mentality pretty often at my office and I wonder how these people had no clue how much money you have to bring in to make real cash. How could you possibly NOT know what you were getting into? Did you not ask around? Did you not do months of research prior to jumping cities and leaving your wife and kids?
I did know what I was getting into I knew it wasnt going to be easy. I am new to the site so I will search for the info thanks for the heads up.
I wasn't trying to be harsh.
Family pressure can be awful, but don't start feeling out of control - you have plenty of time. Read stuff by "the judge" and "bondguy". read 500 day war. build a list, get some script ideas from those threads, drink a bourbon and wake up ready to pop accounts.
chop wood for 6 months and I bet anything you have something to show for it. Good luck bud. I bet anything that if the brokers at your office see you putting in the work, they will help you out.
No worries man, I have pretty thick skin. I read the 500 day war and it makes a lot of sence. One question I have is, my firm is strictly transaction based and does not offer advisory services. I will taylor it to fit what we do thanks for the heads up.
Got to second FADavo on this......get over it. You're sitting on a gold mine and will be able to provide a very high standard of living for your family......just get to work while the markets are all over the place and people are actually paying atttention to their investments.....the time is now.......work...have that bourbon......and take a bit of time to read a few of the good threads.......this site is GOLD....listen to those who take the time to help.....but.....GET TO WORK!!!!!!!. Keep up posted mate....this will work out.....and welcome aboard.....the crazy train!!!!!
All The Way
Let me give you a different viewpoint. Managers in this industry are - generally speaking - liars. I found this to be true in business to business sales too, but this industry raises it to an art form. You will find that everything is deflected back to you. There is always something wrong with you. There is never anything wrong with the firm or their lack of delivery on what caused you to accept their offer of employment. N-E-V-E-R.
You are lazy. You won't do the work. You are waiting around for someone else to make you successful. In general, you suck...if you have the temerity ask why you are not getting the training and mentoring that was committed to you when you took yourself off the job market and, in your case, pulled up roots, left your family behind, and relocated.
Just remember, it's always YOU that is the problem, never "them."
So, before the chorus starts raining down on me that I suck, I am lazy, I am just a worthless pile of steaming... Let me state, that I am at a wire. I am ahead of all of my hurdles and am collecting quarterly bonuses.
I too was the recepient of committments about the great training and mentoring I would receive when I accepted an offer of employment. None. N-O-N-E of the committments of local training and mentoring made to me during the hiring process have followed through on. Not one. Zero. Zilch.
In my experience I will tell you that the situation in which you find yourself will never change. You will never receive what you were told you wold receive.You were lied to by world-class liars.
So, you have a decision to make. IMO you would be 100% justified with taking as much time as you can away from the office and look for another job. You had a type of a contract, I'm not saying that is or is not enforecable legally, and the other party to the contract is NOT performing. That makes the contract null and void. So, you are IMO ethically cleared to start looking for another opportunity. Contracts require specific performance by both parties. When one party does not perform the other party is cleared of the terms of the contract.
This is not to say that you can take your license to another firm. If you have a repayment of training clause in your contract the firm WILL be able to pursue you for costs and they will likely win.
If you want a career in sales seriously consider getting out of this industry and find a gig in B2B sales. You will be trained.
If you decide to stay with your firm, and I hope you seriously consider that option, then yes, Hoovers, is an awesome tool and this forum has tremendous resources you can leverage to build yourself a career. Cold calling, I've learned, has launched many successful careers. Try cold walking too. It's a good way to meet people and there's no such thing as a do not walk list.
I look forward to having enough in production to take my book anywhere I want to go. If I decide to stay where I am, so be it, but if I decide to take my book and go elsewhere, well...they haven't done much of anything so far to create employee loyalty. So, they shouldn't expect much in return.
As you consider what to do remember that if you are smart you WILL figure out how to take the excellent advice on this site, make it your own, and create a reproducible process for acquiring clients. You will get that done. But, that is not the issue. The issue is will you get it done quick enough to keep your head above water.
Put your wife and children first. You will never get back the young years of your children.
I appreciate the encouragement and advice from everyone. Hard work does not scare me, long hours do not scare me and being away from my family, although sucks is not something that I am not used to. I have learned a valuable lesson today, and that is not to make your first post on a forum a vent of frustration. I have picked up a bunch of scripts from the site, thanks to all that have shared them.
Got scripts? Terrific!!!! Now spend 12 hours every day for the next seven years using them. A minimum of 400 dials a day, 50 to 100 contacts and 5 good prospects from that group. Open 8 to 20 new account as per month(after month 3), minumum of 100k per acct. Seven years out have 70 to 100 mil AUM with production above 500k. Get back to us and let us know how your wife and kids are doing on easy street and whether you are going to continue to work hard to double your income from there or work half as much and enjoy the life you've given to you and your family.
ZwingDing and bond guy, thank you for your insight and opinions they have helped. I will keep you guys posted on how things are progressing. Alltheway, thank you for welcoming me aboard the train cant waite for the ride.
Mondays numbers 227 dials 18 contacts 1 prospect.
Tuesday numbers 252 dials 20 conacts 3 prospects.
Hope today is a better day
Good luck as well Newrep, just finished my first year and tried to do it exclusively through referrals. you just end up with a lot of clients with not enough networth, so I'll be joining you and getting inspiration from the 500 day war starting the new year.
One question though, I'm always looking for more ways to find my lists of names and ways to prospect/ market, can you tell me exactly what hoovers is/ how it works or what types of prospects you find on there?
eighttoeight, hoovers is a global listing of business owners, executives ect. It has tons of info on it and various way on how to conduct searches for the people you want to target. I stay with private, non subsidiary business.
Thanks for the info newrep, good lookin out.
And good luck with the grind keep up the good work