I’m a week from KYC but already I am concerned about that, too. From what I’ve read, though, it seems like a sale at Eval/Grad is really icing on the cake - if you get one, great, but if not, oh well.

Shouldn’t we first do a risk evaluation at least? Won’t they think I’m a cheesy salesperson (not a person who genuinely cares about their financial well-being)?

Also… you can stack the deck if you have a client or prospect who is willing to buy something from you when you are at Eval Grad.  I had previous clients (was a transfer broker) and told them what the game was about.     Told them if any of the featured bonds or other products seemed to be something they would like, I would call them.

I think you can do both.  I felt exactly the same way.  I was shocked at the relatively warm reception that I got from people.  The chances are about 99.9% that they’re not going to buy whatever you’re mentioning anyway.   You use the pitch to begin a dialogue and then you go for an appointment.  There is nothing wrong with the product pitch as long as it is a QUALITY product. 

Although not at Jones anymore (Indy and loving it), I would like to comment. My Eval/Grad was 8 years ago, and I had the same concerns.



I, like Babb Loon, didn’t use the “sales pitch” on my best prospects. To the great prospects, I simply tried to go for the appointment, and was successful. To the other prospects, I did use the “I wanted to let you know about a tax-free investment paying 5%…” approach, simply to gather information. You know they aren’t going to buy it, so you need to use it as an opportunity to learn more about the prospect (when is CD due?, what kind of things are you currently invested in?, etc).



I wouldn’t be afraid of calling to sell something, but at the same time, I would use the “get an appointment” approach for your best prospects. I know that they didn’t have a problem with that since I got several appointments.



Hope this helps…

Thanks for the suggestions. I like the “stack the deck” idea, not only with at least one sale, but perhaps also with folks who won’t mind the Eval/Grad pitch.  I tend to worry about things several steps away from where I’m at, so I’ll try to follow the recipe and be confident.

When you call on the equity, say it may be a good fit for their particular situation. Don't go for the sale, go for the appointment. At the appointment, I would recommend taking, besides info on the equity, information on a good mutual fund that owns the equity. 

There are suggestions about pitching it a certain way but you may not have the option.  When I went a couple of years ago, you weren’t given a script verbatim, but it had to include certain elements such as " if you have money available I recommend you invest in this."

When you go to Eval/Grad just pick up a local phonebook and pitch Missouri bonds. That way you won’t waste any opportunities on clumsy sales pitches. I actually had a guy in my Eval/Grad class use this method.

Reggie, That piece of advice makes no sense at all.  How do you “waste opportunities”.  After you leave that class you need to start making calls from your offices so what is the difference.  Looney is right in regards to going for the appointment.  Especially when your new in the business you need to get in front of those prospects.  This will help you to see what other investments they have and have a better opportunity to gather assets which is your number one priority.  To get a “sale” is important, but more importantly is establishing a solid relationship and gathering the rest of their assets.  I was with Jones a long time ago and I remember Fes telling me that I made the worst phone call he had ever heard.  Fifteen years later I am still in the business and eventually turned that awkward call into a client.  The point is make the calls or knock on the doors, just keep dripping on these prospects always showing them good ideas so you can get together with them one on one.

I can't tell you how many times I've had this conversation with people heading into E/G.  You have a grand total of what, 90 days, in the financial services world?  Of course you don't know them well enough to present something to them yet.  You don't even know if they like cream and sugar in their coffee, much less if they need muni bonds, corporate bonds, or stocks.  That's not the point of E/G.  The point is just to make the calls.  I promise you that the only person who doesn't think you should call your prospects and ask them to buy a stock or bond is you.  Didn't you tell your prospects that you'd be back in touch with them when you had  a good idea?  Don't you think it's important to deliver on your promises?  Chances are you won't sell a darn thing to one of your prospects.  You mom or dad or rich uncle will buy something from you just so they can say they were your first order.  Other than that, present the investment idea, get some feedback from them and then once you are back in your office, run things the way you want.  Who knows, maybe the blind hog will find an acorn and you can put some commissions on the board.

Cashflow,

It’s funny, the longer I am in this business, and the more people I see come through, the more I am convinved that you just have to follow the recipe - any receipe - not just at Jones.  One of the most successful people in my region used to be a restaurant manager.  He is the classic example of someone that was not too smart for his own good (as many of us are).  When I asked him how he did so well so fast (he’s at about $100mm AUM after 5+ years, from scratch), he basically said “I was scared to death of failing, didn’t know what I was doing, so just did exactly what they told me to do”.

Ditto to B24’s comments. Follow the format , funny when some ( not all ) people start to play with the system ( any system ) that it when the trouble begins.  Have seen this happen over and over again and in particular with new people attempting to reinvent the system or think somehow they know better.

The only time I have seen someone step outside the box and be successful (early on in their career) is when they had some sort of previous natural market or existing network/niche area that was a slam-dunk.

B24 that is about the same observation I have made and they are the EXCEPTIONS.

B24 and Norway, I agree with your comments on seeing so many people over think this business.  While I don’t necessarily believe in the EDJ way the trick is to follow the system that you use and do it over and over again.  The secret is getting in front of people and showing them a plan that fits their situation.  The more contacts or people you get in front of the better off you will be.  The other process I really believe in is to annuitize your business so you can continue to penetrate your current clientele once you build it up instead of constantly mining for new business or the next sale. 

CF,

To expand on B24’s points. It is a NUMBERS game straight and simple. Once you have reached critical mass ( a book of business , trailers etc. and the Benefit of Referrals ) your method/s of finding new CLIENTS will in most probability change significantly. Follow the format…it’s that simple.