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Career Doubts?

Puff_DougiePuff_Dougie Everyone, Registered Users Posts: 3,182
Ever had 'em?

After being in pastoral ministry for 16 years, but having to make a change for family health reasons, I've found myself in the unlikely field of insurance and financial services. Unlikely, because it's not a career path I ever would have chosen for myself, but the opportunities were there and I seemed to have a knack for it.

Scary part is that it's a 100% commission gig, which means constant prospecting and the ever-present fear that a lag in sales will result in the absence of a paycheck. Fortunately, and by God's grace, things have been very consistent for the better part of 3 years. But this year has been rough, and I'm finding myself doubting my abilities. I love many parts of my job, but I don't like prospecting (scrounging for new people to talk to), and I don't think I'm very good at it.

So, this weekend I decided to mess around online with some sites that measure skills and aptitudes and match them with careers you are supposedly most suited to. The most fascinating one was pymetrics.com, which runs you through about 19 different tests, ranks your strengths, and points to careers that fit you best. My number one fit was... Corporate Finance, followed by Entrepreneur and Accounting. Totally stunned me because I expected the results to point toward something more relational and less analytical. But, in a way, it gave me more hope that I might, in fact, be in the right place after all. At least, I seem to have the right skill set to do my job well... Just wish I could figure out how to be better at the marketing and prospecting part.

Anyway... just wanted to get that off my chest. If you've read all of this, you need to get a hobby. :^)

Anybody else ever struggle with career doubts?

Comments

  • EchambersEchambers Everyone, Registered Users Posts: 2,335
    No career doubts but lots of job doubts.
  • PatrickbrickPatrickbrick Everyone, Registered Users Posts: 808
    I was in commission sales for the past 9 years, it is tough and there are ups and downs, however if you know your good at it stay positive and don't ever let no's bother you. If you do you can easily go through a slump. Sales is all about perception, if the customers hears and sees your passion for what you do that goes a long way. Stay positive my friend and good luck.
  • HaybletHayblet Everyone, Registered Users Posts: 2,400
    Echambers:
    No career doubts but lots of job doubts.
    same here as a professional cook and aspiring Chef I've had job placement doubts all the damn time, career? Never. I just can't see anything else I'd rather make my living off of, heck I have dreams for my own small bistro have the name, and have been sketching the dining room in my mind as of late, menu sort of ready
  • CrouseferCrousefer Everyone, Registered Users Posts: 352

    There are always the doubts here and there. I have worked at jobs ranging from walmart customer Service to a library aid. five years ago i left a decent job in banking to pursue a career in magic. Took four months off on a leap of faith to work on a 10 year on and Off Hobby. then got a part time job at Starbucks for benefits, and went from there. Worked up to shift supervisor and work as a sort of house magicianBatista to practice and increase tips, and using the connections i made there to network and work gigs.

    There have been rough months here and there, and some really great months. Even now sometimes I wonder about the risk of following a passion. Especially getting ready to start a marriage and a family soon enough, but my girl has been,very supportive and family as well. I cant really think,of anything else I would rather be doing. It really is a passion and has supported me so far in life. Iv had many amazing experiences. But like you said there is the possibility of months with no pay, benefits issues Etc etc. Iv even been toying with a old idea of finishing my business and,entrepreneurship degree and opening a coffee shopmagic cigar bar style place. That too has its doubts, but I'v so far decided to take another leap of faith follow my passion and take my magic and family to a whole new city which will have better opportunities . Sometimes you have to find what you love to do, to make what you do worth doing.

    Anyway idk didnt mean to hijack your thread I just cant do something I don't love. I say look at some books maybe take a course or two at a local community college. They can be relatively inexpensive. There are tons,of good(and bad) free advice online, and your local library can get almost any book if you if ask. I think its def worth a try. I think if we put our minds to it as human beings we can make almost anything happen if we really want it.Even more so if you have a aptitude for it. Best of luck my friend i look forward to hearing updates if you decide to make a change! Hope I didnt ramble too much.
  • The3StogiesThe3Stogies Everyone, Registered Users Posts: 1,608
    Insurance salesman, that's worse than being a lawyer, lol.

    I say if you want to give it a try do it, you have a skill set now to fall back on if it doesn't work out. All the things you have learned and done have added to your resume. Any new learned skill/experience will add to your resume as well and will apply to something down the road. Biggest problem is the unknown though, takes courage.

    If you never try it you will always wonder what if?
  • SleevePlzSleevePlz Everyone, Registered Users Posts: 5,408
    I actually had the foresight to question my career path during my first year of college. I grew up assuming I wanted to be an engineer. Came from a family with multiple grads from Michigan Tech. I was good at math and science, so it was the logically choice. Then college hit and I realized I had absolutely no interest in the Dilbert lifestyle. Couple years later, with the help of a college professor, I realized I would probably love teaching. Never looked back.
  • RainRain Everyone, Registered Users Posts: 8,761
    Echambers:
    No career doubts but lots of job doubts.
    Fo sho. I've only had one real job, and I've doubted it dang near everyday for seven years. Then I became a medic, and it was such a breath of fresh air.
  • SM0K3YSM0K3Y Everyone, Registered Users Posts: 519
    Sure I can definitely relate, I just try to count my blessings and do the best that I can, Im going through it right now, prepping to look for a new gig
  • jgibvjgibv Everyone, Registered Users Posts: 5,996
    Puff_Dougie:
    ...... but I don't like prospecting (scrounging for new people to talk to),
    +1
    the biggest downside of being in a sales job....there's some people who can chat 8 hours a day with strangers .... and not get bummed out when you only get 1 "Yes" for every 10 "No's".
    But for me it takes some real effort...can be a downer sometimes.

    figured i could go back to school in the computer science/programming field --- then i wouldn't ever have to talk to anybody LOL.


    going to check out that website you posted above, thanks puff.
  • MartelMartel Everyone, Registered Users Posts: 2,423
    Yes. I had a rough time of ministry at one point, as well. I was with a small church and moved to finish the Master's and protect the family. One career thought at the time was chaplaincy (probably with the Army, but that made me uncomfortable for the family, too, as my wife doesn't handle a single night apart very well), but it eventually led me to the one job that is actually less secure and lower paying than ministry! Small non-profits are a rough place to work. I love what I do, but now we're led back into a congregational setting.

    I will say that some aptitude tests are asked in such a way that they'll emphasize the skills you're currently using over other skills, which may account for your results if you feel they're off. I'm not saying this is the case, but it can happen, and I'm unfamiliar with that website. I hope you get energized by what you do, again, soon. I would struggle with the same things you're talking about in this post. The stress of commission, the constant prospecting. Sounds like you are pretty good at it, though. Maybe this is just a season. I know people may be reluctant to buy insurance and other financial products with the current climate of uncertainty all around. Praying things get better.
  • First WarriorFirst Warrior Everyone, Registered Users Posts: 707
    Finding a job that will make you happy, fullfilled and will allow you to support yourself is difficult. Myself and most of the folks i know are professional artists and craftsmen and we have found that elusive self fulling job. Artists will never be rich but we are mostly happy with the long hours and the wearing of many hats. I know folks that have a job they tolerate but take up so sort of hobby for the self fullfillment part so they can feel satisfied and still hit the 9 to 5. Go with your heart.
  • raisindotraisindot Everyone, Registered Users Posts: 936
    Puff_Dougie:
    Ever had 'em?

    After being in pastoral ministry for 16 years, but having to make a change for family health reasons, I've found myself in the unlikely field of insurance and financial services. Unlikely, because it's not a career path I ever would have chosen for myself, but the opportunities were there and I seemed to have a knack for it.

    Scary part is that it's a 100% commission gig, which means constant prospecting and the ever-present fear that a lag in sales will result in the absence of a paycheck. Fortunately, and by God's grace, things have been very consistent for the better part of 3 years. But this year has been rough, and I'm finding myself doubting my abilities. I love many parts of my job, but I don't like prospecting (scrounging for new people to talk to), and I don't think I'm very good at it.



    Having worked in the financial industry (in marketing) for the last 20 years, I'd say that having a pastoral background should be a competitive differentiator for you. Brokers in particular have a very poor reputation as commission chasers, churners, and people who take advantage of investors' lack of knowledge. 90% of them are obviously not this way, but the remaining make the profession look bad.

    But your background gives you something you can use in your career. Counseling people about their financial goals and helping them find appropriate solutions that give them greater confidence in their future isn't that different than counseling them on personal matters. Indeed, financial security and personal well being are closely intertwined.

  • brianetz1brianetz1 Everyone, Registered Users Posts: 3,898
    It's amazing that this thread came up today. Going through this a ton right now. This thing is tied to my name so i won't say much more.
  • Glock1975Glock1975 Everyone, Registered Users Posts: 4,372
  • raisindotraisindot Everyone, Registered Users Posts: 936
    Puff_Dougie:
    I love many parts of my job, but I don't like prospecting (scrounging for new people to talk to), and I don't think I'm very good at it.



    You are not alone. I've done a lot of research on advisors, and prospecting is the one thing that most of them absolutely hate doing.

    One advantage that you may have is that, as a minister, I would assume that you have a network of parishioners who could serve as referral sources. Most successful advisors get new clients through referrals from existing clients or from friends, family and people they know. You probably know this already, but I always find it amazing how many advisors would rather spend thousands of dollars on developing ineffective web sites and direct mail campaigns--which rarely are successful--than simply ask their best clients or friends to be introduced to people in their network.

    Another avenue you might want to consider is to become an investment adviser, rather than a broker. Or a combination of both. The difference is that an investment adviser gets paid a percentage of client's assets, rather than commission. Because of this, a IA is required to act as a fiduciary for their clients, meaning they must act in their client's best interests, and cannot let potential conflicts of interest (such as commissions) affect their recommendations and advice.

    For a person from a pastoral background, being an investment adviser would tie more closely into your moral beliefs of working on behalf of clients without being "swayed" by products that offer higher payouts.
  • Puff_DougiePuff_Dougie Everyone, Registered Users Posts: 3,182
    Agreed. Referrals are key, yet somehow it seems like an imposition to ask for them sometimes. As far as being an IA, what you say is generally true. I have, however, built my business on a firm commitment to always make recommendations based on my clients' best interest and never on commission considerations. Still, the IA model is good, and certainly worth pursuing.
  • raisindotraisindot Everyone, Registered Users Posts: 936
    Puff_Dougie:
    Agreed. Referrals are key, yet somehow it seems like an imposition to ask for them sometimes. As far as being an IA, what you say is generally true. I have, however, built my business on a firm commitment to always make recommendations based on my clients' best interest and never on commission considerations. Still, the IA model is good, and certainly worth pursuing.


    Again, the idea of "imposition" is also a common concern among advisors. But consider this: If you've worked with a great painter, plumber, electrician, accountant, personal trainer or any other professional, would you consider it an imposition if they asked you to recommend them to your friends or network? Probably not. When people get great service, they're naturally inclined to recommend that professional to others.

    One strategy I recommend for advisors looking for more clients is to connect with their existing clients (and friends and coworkers) on LinkedIn. Once you connect with them, you'll be able to see other people in their network. These other "connections" could become leads for you if you a little upfront research first. This makes it easier for you to ask for that referral. So, for example, instead of going to your client Joe Smith and saying, "Would you mind recommending me to your friends who might need an advisor" you can be more directed and say, "Would you mind introducing me via email or a call to your network contact Bob Brown, who I see is a startup business owner in our town and might benefit from some of the retirement planning services I offer?"

    It's not easy, especially if you're not an extrovert, but it's alas a requirement of the field.

    PS, if you're looking for some free resources to help you in your prospecting efforts, PM me and I can provide them to you (this is not a sales pitch, and no payment of any kind will be asked for).
  • Thanatos0320Thanatos0320 Everyone, Registered Users Posts: 444
    Hi, sorry I haven't posted on here in a very long time. I've been extremely busy with studying. I have had the same thoughts. I'm a college student with no real work experience, so I wonder if I'm going into the right industry. I don't know how the investment world really operates, i just know how it looks on the outside. I just know I love reading investment books. I'm a CFA applicant because of how much I love finance.
  • raisindotraisindot Everyone, Registered Users Posts: 936
    Thanatos0320:
    Hi, sorry I haven't posted on here in a very long time. I've been extremely busy with studying. I have had the same thoughts. I'm a college student with no real work experience, so I wonder if I'm going into the right industry. I don't know how the investment world really operates, i just know how it looks on the outside. I just know I love reading investment books. I'm a CFA applicant because of how much I love finance.
    A CFA is a fantastic certification to have. It's much, much harder to get than just about any other designation, and can lead to all sorts of opportunities in the investment world, from fund research analyst to portfolio manager. Just about every mutual fund manager has a CFA, and if you want to work in that industry it's the thing to have--along with a Series 6/63 and Series 7 license, which give you the license to trade securities. According to the research I've done on financial advisors, no more than 10% have a CFA, so it you become an advisor it's a distinguishing facor. However, most clients don't know what it is so it doesn't make that much of a difference when trying to win new clients. With a CFA you're better off focusing on working for a fund company or investment company, since there's always demand and ground floor openings for people have them.
  • Thanatos0320Thanatos0320 Everyone, Registered Users Posts: 444
    raisindot:
    Thanatos0320:
    Hi, sorry I haven't posted on here in a very long time. I've been extremely busy with studying. I have had the same thoughts. I'm a college student with no real work experience, so I wonder if I'm going into the right industry. I don't know how the investment world really operates, i just know how it looks on the outside. I just know I love reading investment books. I'm a CFA applicant because of how much I love finance.
    A CFA is a fantastic certification to have. It's much, much harder to get than just about any other designation, and can lead to all sorts of opportunities in the investment world, from fund research analyst to portfolio manager. Just about every mutual fund manager has a CFA, and if you want to work in that industry it's the thing to have--along with a Series 6/63 and Series 7 license, which give you the license to trade securities. According to the research I've done on financial advisors, no more than 10% have a CFA, so it you become an advisor it's a distinguishing facor. However, most clients don't know what it is so it doesn't make that much of a difference when trying to win new clients. With a CFA you're better off focusing on working for a fund company or investment company, since there's always demand and ground floor openings for people have them.
    That's a huge relief hearing you say that. I just know want to do something with invesments. There is a local investment bank that said they "may have a position" for me if I can pass my first exam in June. I'm hoping that I can get into the institutional side and that things are also kind of what I was expecting the industry to be like.
  • Puff_DougiePuff_Dougie Everyone, Registered Users Posts: 3,182
    I appreciate all the great advice, raisindot. I've been involved in networking groups, and I have a LinkedIn page with over 500 connections. I've done seminar marketing with cold mailing lists as well as in the faith community where I have a very warm audience. Have had varying degrees of success with each approach. Just seem to go through periodic crises of confidence. But I do appreciate being directed back to the basics.
  • raisindotraisindot Everyone, Registered Users Posts: 936
    I work for a publication that provides investment strategies and practice management advice for financial advisors, and we're presenting several upcoming webinars on prospecting and sales. If you're interested, PM me and I point you to these resources (again--no cost whatsoever; we're totally advertiser supporter).
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