That was also the point I was making.  I know many very successful brokers that don't spend much at all.  They don't need to advertise, and they don't buy a lot of "stuff".  Yes, it is a good place to start, but it is also good if you become very successful because your bonuses get exponentially higher as your gross goes up beyond profitability.  I think where people get jaded is in that 3-5 year point when you are now making a living, but not that profitable yet (as bonuses don't yet kick in). 

Interestingly, we just had a regional meeting where the firms first $1M producer spoke.  He hit $1M in gross in his 4th year from scratch (he started about 20 years ago).  He was a $2M+ producer with $315M book when he went to STL 6 months ago.  The guys started at age 23.  Made $1M gross at age 27.  Gave away $50M in assets along the way.  I still can't figure out how he did it.

Make no mistake, B24, there’s more to that story.  I’m not saying that he didn’t work hard and smart, but he had a leg up somewhere.  They always do.

[quote=Starka]Make no mistake, B24, there's more to that story.  I'm not saying that he didn't work hard and smart, but he had a leg up somewhere.  They always do.[/quote]

Are you saying that every person who made a success of themselves had a leg up?

That's pretty cynical, don't you think?

Agreed.  I don’t really buy his story that he doorknocked non-stop for 4 years to get there.  When do you have time for appointments, client reviews, etc?  Too much production too quick.  BUT, point is he did most of the heavy lifting.

[quote=Devil’sAdvocate]

[quote=Starka]Make no mistake, B24, there's more to that story.  I'm not saying that he didn't work hard and smart, but he had a leg up somewhere.  They always do.[/quote]

Are you saying that every person who made a success of themselves had a leg up?

That's pretty cynical, don't you think?

[/quote]

Not cynical at all.  In fact, I'm glad you chimed in when you did, as you're a prime example of having a leg up.  That is, of course, assuming that what you've posted about your own remarkable success isn't just a pack of lies.

[quote=Starka][quote=Devil’sAdvocate]

[quote=Starka]Make no mistake, B24, there's more to that story.  I'm not saying that he didn't work hard and smart, but he had a leg up somewhere.  They always do.[/quote]

Are you saying that every person who made a success of themselves had a leg up?

That's pretty cynical, don't you think?

[/quote]

Not cynical at all.  In fact, I'm glad you chimed in when you did, as you're a prime example of having a leg up.  That is, of course, assuming that what you've posted about your own remarkable success isn't just a pack of lies.

[/quote]

And that leg up would be what?

[quote=Broker24]Agreed.  I don't really buy his story that he doorknocked non-stop for 4 years to get there.  When do you have time for appointments, client reviews, etc?  Too much production too quick.  BUT, point is he did most of the heavy lifting.[/quote]

Agreed.  He undoubtedly had access to doors that others didn't.  Of course, he must have known what to do after the introduction.

[quote=Starka]

[quote=Broker24]Agreed.  I don't really buy his story that he doorknocked non-stop for 4 years to get there.  When do you have time for appointments, client reviews, etc?  Too much production too quick.  BUT, point is he did most of the heavy lifting.[/quote]

Agreed.  He undoubtedly had access to doors that others didn't.  Of course, he must have known what to do after the introduction.

[/quote]

What does "access to doors" mean?

Starka:

Make no mistake, B24, there's more to that story.  I'm not saying that he didn't work hard and smart, but he had a leg up somewhere.  They always do.

-----------------------------------------

Unfortunately, I'd have to "ditto" Starka, as well. From my own personal experience, I have never met a big producer who "scratched and clawed" their way to the top. Oh sure, they were paraded around at meetings as some sort of wonderkins. But afterwards, get a few drinks in them, and they fess up that their daddy is a CPA who feeds them referrals or they "confiscated" a list of bank CD account holders (from when they worked at the bank) and called them "just before their CD matured". Both true stories, by the way.

Starka & doberman I feel the same way. As one old broker pal of mine told me; there’s always a story behind the story. <!–
var SymRealOnLoad;
var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>

[quote=Devil’sAdvocate][quote=Starka]

[quote=Broker24]Agreed.  I don't really buy his story that he doorknocked non-stop for 4 years to get there.  When do you have time for appointments, client reviews, etc?  Too much production too quick.  BUT, point is he did most of the heavy lifting.[/quote]

Agreed.  He undoubtedly had access to doors that others didn't.  Of course, he must have known what to do after the introduction.

[/quote]

What does "access to doors" mean?

[/quote]

It means he was really tall and able to reach the door bell easier than others.  God!! you are annoying.

[quote=babbling looney][quote=Devil’sAdvocate][quote=Starka]

[quote=Broker24]Agreed.  I don't really buy his story that he doorknocked non-stop for 4 years to get there.  When do you have time for appointments, client reviews, etc?  Too much production too quick.  BUT, point is he did most of the heavy lifting.[/quote]

Agreed.  He undoubtedly had access to doors that others didn't.  Of course, he must have known what to do after the introduction.

[/quote]

What does "access to doors" mean?

[/quote]

It means he was really tall and able to reach the door bell easier than others.  God!! you are annoying.

[/quote]

But you feel compelled to respond?

Guys that hit 1mm production in 4 yrs had a leg up definitely. Maybe he
put himself in better position for it, so I’m taking anything away from
him, but come on, 1mm production from scratch. He must have had a rich
uncle or uncles. I heard about a guy at ML that got a 300mm 401k plan
from his uncle. And a couple years after that he was in Princeton
teaching new guys how to prospect and what not. I also heard about a
new guy at Jones that had a 350k month in his 6th month. That’s pretty
insane. He had a big whole life policy. Anyway, leg up or not its very
impressive. 

I’m not taking anything away either.  The sign says, “Free Lunch”, so you sit down and eat.  I certainly would jump on the opportunity as well.  What I don’t get, however, is why these guys have to crow about their own greatness.  They’ve been given a gift, yet don’t see it for what it is.

"Just to keep your job at Jones at the end of yr 1 you should have grossed about $25K.  End of year 2 is $75K gross.  End of yr 3 is $121K gross.  You keep just under 40% of the gross.  Plus new account bonus, milestone bonus, etc.  That's just the minimum.  Bring in the $7-10 mil per yr and you'll be above that"

Are these accurate production numbers for Jones? Seems like the guy at the Subway next door could gross more from meatball subs alone.

Grossing 25K in year 1 may be the required minimum, but I don’t know anyone that has hung on with numbers that low.  I could see that PACE through the first few months, but then the pace would have to pick up beyond that.  Most of the “strugglers” I have seen are at a pace of around 50-75K by the end of their first year.  After a few years, the required minimum is 14K gross per month permanently.  I think that equates to about break-even on the office.  The average I see in our region (most are in the biz 4-8 years) is around 18-25K per month.  I didn’t calculate that, it’s just based on what I observed on our regional performance chart.

Forget the money at Jones, just enjoy the state of the art technology and no email. If you live in a rainy region of ther United States you will have plenty of time to knock on doors because the satelite system will be down if the is a cloud in the way of the dish.

Had e-mail for some time now, and satellite is only for training/broadcast over private network.  We are on land-based broadband for I.T.  People, things are not as they used to be.  Get over it.

When are they going to get an equity dept that knows something about stocks?

[quote=Broker24]Had e-mail for some time now, and satellite is only for training/broadcast over private network.  We are on land-based broadband for I.T.  People, things are not as they used to be.  Get over it.[/quote]

how's the LP offering going?