Originally Posted by Dennybronx
Is what hurts is I only have enough funding for starting costs, some marketing and personal living expenses for 1 month. After that I have no money. After commissions start coming in, I'll be fine as I know I can do it and make it work.
Hi Denny. I was in a similar situation. I left a large brokerage house after my brother passed in a tragic accident. I had no income but I did have one thing... prospects. I was able to pick up one client in my first month but it took me probably 60 days to get paid. It was tough but I wouldn't change a thing.
When I started in the selling part of this business 15 years ago, I busted my butt because I was promised if I did, I would make lots of money and I did for about a year. I wrote over 200k my first year and tripled the production of every other agent in the company. My second year I doubled everyones production. How did I get rewarded? In two ways... First, our company was sold to a large bank who thought we made too much money so they cut our commissions in half. Second, they started passing out business from the previous owners to a select few agents who were hired by the new management. One received a book of business on day 1 at the same commission rate as me, that took me two years of busting my ass to generate. He never made a single cold call or drove a single mile. He was never in the office at 8pm doing proposals and he never came in the office at 3am because he couldn't sleep trying to see what he was missing on a big case he was trying to close. But at the end of his first day, his book of business was bigger than mine.
I left that company and all my hard work just to go to another company and found the same things happening there. It took me years of being miserable and the sudden death of my brother to get me to go out on my own where my hard work was mine. Where I set the rules.
When I started I had no money but I did have prospects and a NEED to succeed. Even though I wrote a case in my first month, it took me a couple months to get my first check. It was tough but when I look back, my only regret is that I didn't do it sooner.
My advice to you is this. Get set up as much as you possibly can before you head out on your own. My non-compete was on clients but not prospects and if yours is the same, line up as many prospects as you can so you can jump into business on day one or shortly after. But the most important advice is to focus solely on new business from day one. Don't get caught up in computers, and pictures on the wall or anything else. You can work from anywhere. I started in my basement with a desk in the corner. There is a great story by the owner of sam adams where he was spending time looking for a computer to track sales he didn't have. lol I found it and here is a part of it. Also, here is a link to the full article:Portrait Of The Ceo As Salesman, | Inc.com
YEARS AGO, WHEN THE BOSTON BEER CO. WAS JUST getting up and running, I received a phone call from my uncle, a partner at Goldman, Sachs and one of my initial financial backers. He asked me how things were going. Fine, I replied; the first batch of Samuel Adams beer was in the aging tanks and would be ready for delivery in about five weeks.
"So," my uncle continued, "what did you do today?"
I told him I'd spent the day shopping for a computer system. When he asked me why, I explained that I figured I'd need a computer to keep track of sales, payables, and the like.
"Oh yeah," he said, "sales. By the way, have you got any?" I admitted that I did not.
"So what the hell are you doing buying a computer?" he demanded. "You know, Jim, I've seen a lot more businesses go broke because they didn't have enough sales than I've seen go under from lack of computers. Why don't you work on first things first?"
Just remember, there is nothing more important than a sale. Pick up the phone and call call call. Don't let anything distract you. If you REALLY want it, you'll succeed. Good luck!