You think your Sales Training Class is tough? Child, please.
Check out how the Edward Jones sales function rolls:
"Then there’s Edward Jones, a 91-year-old brokerage based in St. Louis that’s thriving by sticking to its old ways. It hired 2,682 trainees last year and plans to add a similar number this year, according to Steve Kuehl, a partner. Trainees at Edward Jones, which has more than 12,000 advisers, don’t spend their days pitching stocks to strangers over the phone. They go door to door, like vacuum cleaner salesmen. New brokers are brought to headquarters, where the company has constructed what it calls “role-play suites”—rooms designed to look like homes and offices, complete with doors that they can practice knocking on. They review tapes of themselves with coaches to improve their technique. “We try to help them learn how to present their value proposition in terms of helping people meet their financial goals,” says Kuehl. “The core is face to face.”
The life of a young broker can be grueling. After the role-playing at headquarters, Edward Jones brokers return to their hometowns, where they go from one house to the next to compile a list of prospects. After Alex Freemon, a 2012 Georgia Institute of Technology graduate, practiced knocking on a model door in a classroom at Edward Jones headquarters, the company sent him back to Atlanta to walk the streets for 10 hours a day. His pay: about $30,000 a year plus commissions."
1. I want to know if they say "Have you chosen financial independence as your destiny?" when someone answers the door.
2. On a serious note, I'd love to spend a day in those role-play suites at corporate HQ. Do they have different characters? The chain-smoking housewife? The alchoholic man in his 50's? Who's home during the day that answers the door?
3. I wouldn't mind my kids doing this for a year. I'd think they'd learn a lot. Which is one of the reasons that the Morman faith and the JVs do this, I'm sure.
I'm intriqued - in a big way.