My EDJ Journey Begins

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Jun 29, 2009 6:24 am

I’ll keep that in mind… The problem is… this IS plan B.

Actually, it’s more like plan G.  I didn’t spend over $100,000 on an MBA to have to start from complete scratch.  I have exhausted all options.  I’m sure there are those out there who will say that I am a liar or an idiot or whatever…  My story is too sad to make this stuff up.  Why would I brag that I have a top ranked MBA, but can’t get a simple job?

Until recently, I have been extremely successful at everything I have put my mind to do.  I think it’s based on neurosis caused by my mother.  I can still hear her voice saying, “You are a loser just like your alcoholic father.  You will never amount to anything!”  That’s what drove me to graduate cum laude, become an infantry officer, and earn a six figure income.

When people tell me I can’t do something, I just pretend it is my mother speaking, and somehow I accomplish the impossible every time.

I know that talk is cheap.  There is nothing I can do to convince you guys or anyone else that I am different and I will succeed.  I guess if I’m still around these forums in 5 years, that means I somehow made it.

As far as following the formula goes… I have had several years experience in sales and sales management.  I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do.  They think they have a better way than the company way… and they often fail.

I think that taking shortcuts and good ol’ fashioned burnout are the killers in most sales organizations.  I have ways of addressing both of these.  Did I mention that I am a damn good salesperson too?


Jun 29, 2009 11:19 am

" I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do. "

  In our industry, I would put this number even higher.  I would guess 80-95%.   I am also  convinced that if one has the ability to get hired AND they do what needs to be done on a daily basis, they have close to a 100% chance of success.   There is one caveat to this.   They have to have enough cash to survive because there is no promise of instant success.
Jun 30, 2009 12:30 am

[quote=MBA2FA]I’ll keep that in mind… The problem is… this IS plan B.

Actually, it’s more like plan G.  I didn’t spend over $100,000 on an MBA to have to start from complete scratch.  I have exhausted all options.  I’m sure there are those out there who will say that I am a liar or an idiot or whatever…  My story is too sad to make this stuff up.  Why would I brag that I have a top ranked MBA, but can’t get a simple job?

Until recently, I have been extremely successful at everything I have put my mind to do.  I think it’s based on neurosis caused by my mother.  I can still hear her voice saying, “You are a loser just like your alcoholic father.  You will never amount to anything!”  That’s what drove me to graduate cum laude, become an infantry officer, and earn a six figure income.

When people tell me I can’t do something, I just pretend it is my mother speaking, and somehow I accomplish the impossible every time.

I know that talk is cheap.  There is nothing I can do to convince you guys or anyone else that I am different and I will succeed.  I guess if I’m still around these forums in 5 years, that means I somehow made it.

As far as following the formula goes… I have had several years experience in sales and sales management.  I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do.  They think they have a better way than the company way… and they often fail.

I think that taking shortcuts and good ol’ fashioned burnout are the killers in most sales organizations.  I have ways of addressing both of these.  Did I mention that I am a damn good salesperson too?


[/quote] You won’t be.

Don't take it the wrong way but this has to be not only Plan A but the only plan. If you have another open door or even a cracked window, you will one day go thru it. Most people that succeed do so because there is no other choice.   And the reason EJ has a high pass rate on the 7 is because you have to pass their internal tests before they let you take the 7. If you are looking for a salary to hold you over then heck go for it. But know it is reduced after the first quarter following your can-sell date and each additional quarter until you are full commision one year from your can-sell date. So milk the hours all you can, they pay overtime now.
Jun 30, 2009 2:55 am

Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die.  I have no other choice.  I know you have heard it all before, but did the person speaking really mean it?  My disabled wife needs me, my kids do to (I have lots of them).

As far as the hourly rate goes at the beginning… I was assuming that they limit the hours you work in the beginning.  They “estimate” 45 hours study per week in the beginning and then 60 hours per week after KYC.  Can you work more than this?  I had already planned to work much more than this, but I wasn’t sure if they would let me claim that many hours.

Again, I have closed all other doors (and windows).  I quit returning calls from other companies’ recruiting departments.  I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid.  I’ll be a Jones success story if it kills me.

Jun 30, 2009 10:15 am

[quote=MBA2FA]Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die. 


As far as the hourly rate goes at the beginning... I was assuming that they limit the hours you work in the beginning.  They "estimate" 45 hours study per week in the beginning and then 60 hours per week after KYC.  Can you work more than this?  I had already planned to work much more than this, but I wasn't sure if they would let me claim that many hours.

Again, I have closed all other doors (and windows).  I quit returning calls from other companies' recruiting departments.  I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid.  I'll be a Jones success story if it kills me.

[/quote]   For Christs sake, this is a little too much kool-aid, even for me!  And I have an IV bag of kool-aid dripping into my arm every day from 8am to 10pm, when I'm out doorknocking and chatting with folks about my job.
Jun 30, 2009 1:16 pm

[quote=MBA2FA] I quit returning calls from other companies’ recruiting departments. I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid. I’ll be a Jones success story if it kills me.

[/quote]

I wouldn’t be too eager to burn all the ships in the harbor until you’re sure you’re sure you’ve made it to the right port and all hands are safely ashore. Until then, and to mix my metaphors, why close any doors that don’t need to be closed? One of those calls you quit returning just might be the call you have been waiting for.

Jun 30, 2009 1:22 pm
SpacemanSniff:

For Christs sake, this is a little too much kool-aid, even for me! And I have an IV bag of kool-aid dripping into my arm every day from 8am to 10pm, when I’m out doorknocking and chatting with folks about my job.



Get your own username, sniff, or at least don't try to hijack another's.

There is only one "Spaceman Spiff," and it ain't you.
Jun 30, 2009 1:38 pm
Morphius:

[quote=SpacemanSniff]For Christs sake, this is a little too much kool-aid, even for me! And I have an IV bag of kool-aid dripping into my arm every day from 8am to 10pm, when I’m out doorknocking and chatting with folks about my job.



Get your own username, sniff, or at least don't try to hijack another's.

There is only one "Spaceman Spiff," and it ain't you. [/quote]

He fooled me for a little while. I thought that was unlike Spiff.
Jun 30, 2009 7:28 pm

Does anybody else chuckle when “My EDJ Journey Begins” thread title is immediately followed by “Leaving Jones” thread title?  This is me chuckling right now…Chuckle, that’s one of those words that really sounds funnier and funnier when you say it over and over out loud.  But then you stop really quick when your assistant comes in to ask you a question…

Jun 30, 2009 7:35 pm

Time to put down the scotch, beemer.  I know the market is dropping 100 pts and our clients quarterly statements won’t look quite as they could have otherwise, but its only 3:30!

 
Jul 23, 2009 3:57 am

[quote=MBA2FA]Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die.  I have no other choice.  I know you have heard it all before, but did the person speaking really mean it?  My disabled wife needs me, my kids do to (I have lots of them).

As far as the hourly rate goes at the beginning… I was assuming that they limit the hours you work in the beginning.  They “estimate” 45 hours study per week in the beginning and then 60 hours per week after KYC.  Can you work more than this?  I had already planned to work much more than this, but I wasn’t sure if they would let me claim that many hours.

Again, I have closed all other doors (and windows).  I quit returning calls from other companies’ recruiting departments.  I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid.  I’ll be a Jones success story if it kills me.


[/quote]

ATTENTION: MBA2FA will no longer be a Jones success story.  In less than 30 days after reading posts on this forum he has opted to quit Edward Jones before starting. This message was intended for all that cared.

Jul 23, 2009 4:06 am

Isn’t he at MSSB or something and already bashing EJ’s lack of proffessionalism? Ironic judging from his clamoring for EJ acceptance and his “seemingly unequivicol devotion” to EJ. I’m sure he will be a superstar though. After all what was his worry with having 10,000 names in his rolodex and commitment of 80 hours a week.

Jul 23, 2009 5:30 am

When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

Jul 23, 2009 11:28 pm

Well, MBA I wouldn’t say that any of those things besides maybe the delayed dinner invitation is worthy of a complainant.  The main reason they need the zip code, is for compensation reasons. I don’t know who you are, but to jump ship before you even get your feet wet, is rather spineless.  And if you honestly think the BM was straight with you, your MBA  taught you nothing. Hes a salesman among salesmen. His job is to recruit guys like you who will attract some decent fish, then when you fail he’ll throw em to his corner office guys. Good Luck, we all need it.

p.s. I want to wish you extra good luck meeting MSSB expectations.

Jul 24, 2009 12:56 am
MBA2FA:

When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

  I've actually heard that MSSB is famous for selling you a bill of goods...making you feel all warm and fuzzy and then sticking it to you once you are there.  I am with Jones but not just saying that!  I had a great experience in my region with the RL and the other Brokers, however, I have heard horror stories worse than yours MBA...so I don't blame you!  I think anywhere you go there will be things to bitch about...just put your nose to the grindstone and kick ass wherever it is you hang your hat!  Good Luck!
Jul 24, 2009 1:30 am

Sorry MBA I didn’t mean to offend you. I just think if you’re this easily offended and wishy washy that you won’t make it in this industry. You are going to have a lot of jerks out there while prospecting, and it is going to be a while before you build a sizeable book so its a long front load. I do think that MSSB is a better fit for you though because they may have a bit more pampering than EJ where you are pretty much on your own. However if your claim to having 10,000 contacts is true then you are a surefire win at any firm.





One more thing. You made some comments about the EJ recipe for success. Its all crap. You can do it and succeed or you can do whatever kind of business plan you would like. All EJ cares about is contacts at first and getting some small sales. Seems with your rolodex, you would make it there doing business however you would like, just make sure to pick a few out of your list and plug them in at a rate of 25 a day in your laptop. You would coast right through. That is if you can get over the fact you have to be a self starter in getting answers and running your business and can deal with the RLs world not revolving around you.

Jul 24, 2009 1:48 am
Hey Kool-Aid:

[quote=MBA2FA]When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

  I've actually heard that MSSB is famous for selling you a bill of goods...making you feel all warm and fuzzy and then sticking it to you once you are there.  I am with Jones but not just saying that!  I had a great experience in my region with the RL and the other Brokers, however, I have heard horror stories worse than yours MBA...so I don't blame you!  I think anywhere you go there will be things to bitch about...just put your nose to the grindstone and kick ass wherever it is you hang your hat!  Good Luck![/quote]

I have worked for a few large organizations and have found that in many cases, it doesn't matter what company you work for... what usually matters is your manager, office, region, etc.  Actually, what matters most is my personal attitude and how I handle my work situation.  I was with my last employer about 10 years.  It wasn't the best nor the worst.  I just tried to place myself in a situation where I can perform at my best..  I'm approaching this industry the same way.  I'm not convinced that any major firm is so bad that they will make me fail while I would find success somewhere else.  If I fail, it's because of me and not because some RL wouldn't return my calls.  I take responsibility for my successes and my failures.

At the end of the day, I think a lot of it is about personal preference.  My problem with Jones at this point is really in my head.  I kind of have a chip on my shoulder about my RL, the market area guys and the training guys.  I would need to deal with this in a serious way if I were to work there.

As far as MSSB goes, I'm sure it's an evil company (just like all other companies), but I really like the management team and the atmosphere of my local branch.
Jul 24, 2009 2:16 am

[quote=fa09]Sorry MBA I didn’t mean to offend you. I just think if you’re this easily offended and wishy washy that you won’t make it in this industry. You are going to have a lot of jerks out there while prospecting, and it is going to be a while before you build a sizeable book so its a long front load. I do think that MSSB is a better fit for you though because they may have a bit more pampering than EJ where you are pretty much on your own. However if your claim to having 10,000 contacts is true then you are a surefire win at any firm.





One more thing. You made some comments about the EJ recipe for success. Its all crap. You can do it and succeed or you can do whatever kind of business plan you would like. All EJ cares about is contacts at first and getting some small sales. Seems with your rolodex, you would make it there doing business however you would like, just make sure to pick a few out of your list and plug them in at a rate of 25 a day in your laptop. You would coast right through. That is if you can get over the fact you have to be a self starter in getting answers and running your business and can deal with the RLs world not revolving around you.[/quote]

No offense taken.  I realize that I can prospect any way I want at Jones, but some local FA’s have made me feel like I have to be “sneaky” about it and make it look like I am doing things their way.

There are a few other (kinda small) annoying things.  For instance, I keep track of a lot of my contacts through linkedin (update info, keep notes, etc). A local FA told me that the linkedin site is completely blocked by Jones.  On the flip side, I know several people with MSSB that use linkedin.

Jul 24, 2009 3:35 am

I don’t know why you’re even worrying about Jones, MBA, people who start there want training and support and want to be in business for themselves but not by themselves.  It doesn’t sound like you want to be trained and you don’t want to do things their way. 

Go find a place where they’ll throw you up against the wall and see if you’ll stick and not spend a lot of time or money on you.  No time + no money from your company = no hassles  and you can do it your way.  I’m sure there are companies that would sponsor you for your licenses as a career-changer.  You pay for your 7, you pay for your E&O and you pay for the state licenses you want to obtain.  You can do things your way, you own it, and you’ll get a higher payout to boot. 

Jones has a profile of a recruit they want, you don’t fit the profile.  It’s a good idea to pull the plug on the Jones thing because it will only end in frustration and failure for you.

Jul 24, 2009 4:05 am

Well said Berk … this has been my point all along MBA.  I don’t know if you can make it in the business but I don’t think you’ll make it at Jones.  It’s too process dr’iven for a guy like you - plus you’ll want to feel the love and there is not ANY.  No matter how well you are doing you’re on an island. Unless you are THE CHOOSEN ONE of course, then Weddle and the GP’s will be all over your nuts.