It is necessary to have common sense with technical knowledge in successful broking.
If you can generate clients, then all other infrastructure & experienced team of professionals will be provided by many broking firms.
We are giving a CLIENT GENERATION PLAN which will ensure a successful sub broking business.
1. Free training & publicity-
The best method to sell any product is to give training & demo to groups of people nearby. When you explain the benefits with total knowledge, then all of them will be interested on their own and hard selling is not needed at all.
If you are sharing something valuable without expecting instant returns,then you are making a right reliable image.
Someone is learning something from you then he will prefer to work with you first.
People may come through 2ways-
- Personal invitation to nears & dears with high tea
- Open session for unknown fellows with advertising
Advertising need money but it is beneficial by the end.If we are meeting 100 fellows in 100hrs & spending petrol worth rs30/- per person. But people are not taking you seriously because you are approaching them,so it is taken for granted.
Half of them may not be right prospect for your product.You knew this after meeting them.
100 fellows are coming to you in 1hour due to advertising.These are the fellows who are really interested.
Brokers are trying to snatch clients from other brokers but these clientel is still 10-15% of capable population.Still there is possibility to tap remaining 80-90% untouched potential clients.But educating them properly is the only way to get them involved.
2. Personal calling-
You should have a pocket diary to keep noting to be called list. You may not recall any name in the beginning but you will start calling so many new fellows after breaking the ice.
Prefer capable & less complex people first.You can call available fellows 1-1 hour in morning,afternoon or evening.You are calling 30-40fellows per day.there will be 800total calls . 80(10%) out of them will listen to you attentively,8-10will start process but 3-4 will be finalized in the end.
In this way, 40-50accounts will be opened which can give 3000/-per day total brokerage.if 15active clients are giving 200/- per day brokerage.
If you are not having time or calling skills then you can higher tele caller,who will generate his salary from new business.
You need to waste some money till the training of right employee but it is like an asset which will give you return for many months.
3. Tie up with investment agents
There are so many old investment agents may have network of 50 to200clients who are having trust built in years for financial matters.
We can exploit that network by tie up with such investment agent. Deal with him professionally on a royal dinner projecting huge extra income with safety & without extra efforts.
Take him to visit some good brokers set up to visualize the scale of this business. You can convince him to get recurring income from the clients who have been giving commission once a year with more efforts in case of insurance or fixed deposit.
This approach may be very successful in rural & town areas.
4. Free demat-trading account
Demat account opening needs actual cost at your end due to stamps involved. So it seem difficult to open free account, but if you are not spending on branding, that saving may be used for new account opening.
If it takes 5-6 months to make a good client base to recover monthly expenses, then you will have to bear expense from your own pocket.
Why should not we spend half of that in beginning to take a kick start.
If you get 10clients after spending 25000 extra,then you will recover monthly expenses easily.
Business becomes rather easy after reaching break even point.
However it is sure that if you open 50demat trading accounts,then 10 out of them will actually trade but that will generate minimum 10times of your extra expenses.