The job of a stock broker is certainly not a bed of roses, as he has to involve in plenty of stressful activities. In spite of that, many people prefer to enter this profession after completing their school education. How can they work effectively in this field? What path they should follow in order to be more successful? We shall discuss about all this in this article.
Desire and Skills
People may think the job of stock broker is quite glamorous, since some of the Hollywood movies have projected Wall Street in very good light. However, the harsh reality is that many people quit their profession after spending just 1 year in this line. That is because one has to put in a lot of efforts and spend time to earn his income. Therefore, if you want to enter this field then you must seriously ask yourself whether you can get involved in such stressful profession.
In order to become stock broker, you do not need any special kind of personality. Anyone can enter this field provided he has enough patience, and desire to be successful. They should be able to take rejection as most of the time they have to call many people on telephone and make a pitch for sale.
Following attributes are very essential for a stock broker:
- Good communication skill
- Should able to explain very complicated things in very simplified manner
There are certain training programs to get trained as a stock broker, but only those who possess the above skills can really become successful in this profession.
These days, competition has become quite intense and therefore in order to enter this field one must have a degree from college. People entering this field must have good knowledge in the area of finance. If you have master’s degree in finance then the chances are that there that you may be ahead of others. In addition to that, the person must have very good skills in communication.
Stock Broker income will depend largely upon how many clients you can create to expand your business. Therefore, your focus area would be developing more number of clients to generate more business for you. You can make client in many number of ways. Some of them are as follows:
- You must have list of people to whom you have to make cold calls so that they may agree to become your potential client
- You must have list of prospects to which you must call in order to convert them into your real client, so that they are ready to invest their money.
- You may call your relatives and friends to get the prospects.
- You need to become a member of certain organization in order to network with the other people, so that you can find prospects from them.
A lot of patience and time is required in order to become real professional stock broker.