The famous/ infamous Wall Street is the Mecca for stockbrokers around the world. If you aim to be a noted stockbroker, and dream of having your own business up there, it’s all about playing with the BEARS and the BULLS, as the experts keep on saying. It is a volatile world of shares and stocks out there, where one survives the number game, while the other perishes.
Everyone wants to make money
With so many dotcom companies and other businesses reaching the pinnacle of success in no time, clients want to make more every second. With that being said, clients would look at the best stock brokers because;
- They want an expert’s opinion on how to make the best investments in the market. It is as many say a ‘very seductive’ world out there, and there are people who have no basic education but make millions every year through buying and selling of shares and stocks.
- The role of the stock broker is to keep abreast of the new trends and current market scenarios that would help clients with their needs on the lines of buying, selling, investing and acquisitions too.
Do not overestimate or underestimate the market
- Do not assume the market would make you rich; the myth of ‘beginners luck’ should be shunned. Itch in your right hand doesn’t mean the luck is in your favor all the time. Be realistic with your objectives or you may fall on the face.
- False assumptions can lead to losses, sometimes losing savings worth a lifetime. Irrespective of the business skills, the family values on stock brokerage or anything else which sets you apart from the rest, you have to give leeway, since the markets can be volatile and very unpredictable too.
Intern with professionals
- Learning from the professionals would be of great help, but make sure you don’t undermine your talent by getting influenced.
- Terminologies such as “straight-line pitch or even “advanced cold-calling” should be learnt, which would come in handy when one decides to set-up their own stock broking business.
- Learn from the experts about pitching and making cold calls, and also focus on the art of closing deals, counteracting objections from clients etc.
Interact and stay in touch
Even if the clients’ don’t respond positively to your calls or emails, once in a while drop in a line. Everyone would have financial needs and issues to solve at some point in life; you never know when you could hit bingo with them. Meet your clients over a power lunch or maybe coffee somewhere nice, talk to them about new financial products and services, hear their stories out. There are a lot of leads that can come through, just by talking and staying in touch.
Expand your wings online
Networking is one of the most recommended ways of building a data base with loyal clientele.
- Join groups and forums online, those that deal with expert opinions, suggestions and help with regard to the real-world in stocks and shares,
- Interact with experts, share your ideas and learn from one another. This would be the best way to build contacts and increase connections as well
Once again, please remember the golden rule of the stock market and its world “There are no second chances”. Hence, be diligent when taking help and advising others on their investments.