Not everyone can do everything; one needs the specific characteristics to be that someone or to achieve something. Similar is the case about sub-brokers as well. First of all, a sub-broker’s job is indeed not the same as a broking agent. In fact, a sub-broker is not a part of stock exchange; rather, they are the people acting as the agents or the associates of particular broking agencies playing key roles in deal making.
1. Qualification/knowledge
Though someone with intermediate level educational qualification can start this business, still, having a graduation degree is indeed desired. The person needs to possess knowledge in finance; hence, the best recommendation would be to have a graduation in finance. It is even better to have work experience in financial sectors for better understanding of financial transactions.
Stock exchange is not just about finance. It’s an absolute fact that the political environments, economical aspects, and even the social aspects also do affect stock market games of financial scenarios. Hence, one should understand it well on how these factors have impact on stock markets. Knowledge on basic financial aspects like mutual funds, insurances, interest calculations, commodities, etc is like a must in this context.
2. Tech Savvy
Sub-brokers in modern times have to deal with various technological tools and software. This makes it very necessary for a sub-broker to have a good hand on technology or digital tools. The most important part, the person should be excellent in terms of communication skill. No business can be successful without a good communication skill. In a competitive scenario as of modern times, communication skills can be crucial.
3. Proper management skill
Though it looks from the outside that sub-brokers often perform individually, thorough management skill is inevitable. No business can be successful with a flawed management of finance and market. In addition, one has to manage with attitudes of different personalities as well.
4. Vision of a true businessman
Sub-broker is not something like a degree program that one may opt for without thinking much. The first thing that needs to be studied well prior decision making is regarding which stock broker to select from various. The career growth of a sub-broker depends hugely upon the broking agency. It’s commonly seen that people go with those brokers or broking agencies which promise about paying greater revenues.
One must understand that instant money or profit is not something that a businessman looks for. Rather, a true businessman is someone who eyes the long term benefit or the growth with passing time. One must take help of others who have worked as sub-brokers for different broking companies. The terms and conditions they set needs to be carefully gone through prior making a decision.
5. Focus: don’t take it as a part-time job
A common blunder committed by many by taking a sub-broker’s job as a part time job. When someone takes something as a part-time job, it is obvious to miss the desired focus on that. Moreover, such people miss the key times that could be game changing. This simple reason has made many end the business on a disappointing note. Hence, it is advised not to start working as a sub-broker, taking this as a part time job.
Modern day clients expect many things from the sub-broker. They in fact test initially in many ways prior finding him/her trustworthy to take advice from. People want much more than the simple transactions in the equity sector. This means the sub-broker is expected to have knowledge in other financial aspects like equities, insurances, funding aspects, currencies, etc for meeting the expectations of clients about proper decision making.
6. Market research
Market research is something inevitable for a sub-broker. The person needs to prepare a thorough report or database of potential people to be met for an effective deal. This list of people is not necessary to be limited within the investors only. In fact, one should look for the opportunity while coming across with anyone in day to day life. This would make the business easier and faster. In short, this level of 24x7 attention is expected from a sub-broker.
7. Genuine interest and hard work
To start a business of sub-broker is indeed one of the finest options in modern times. However, one needs to have good knowledge of the financial market to become a sub-broker. Moreover, one should possess genuine interest in learning about these things. This is indeed one of the finest business options at minimal investment.
Hard work is inevitable in life to be successful. Be it about academics, sports, or business, there is no alternative for hard work. However, the nature of hard work varies from one case to the other. For example, someone working as a sub-broker is not necessary to boost physical strength like a sports person. Here the hard work primarily means conducting or handling meetings with potential clients.
Moreover, here meetings are not just the end of the day or end of the month affairs. Rather, one needs to have the ability to handle at least five meetings in a day. Meetings determine the level of productivity. However, these meetings should not be just randomly; as explained above, one should prepare a thorough strategy or line-up of potential clients, and approach them in accordance. This approach can be helpful in expecting greater outcomes.
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