Why does the cold-call rejection hurt so much?

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Boone's picture
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Joined: 2008-04-11

Why do the hang-ups, smart remarks, etc., hurt so bad when cold-calling?
 
I'm new to cold-calling and making 100 calls a day.  Right now that's all I can stomach.  If I make 20 contacts, about 8 are hang-ups or complete a-holes and say something smart.  But why does it affect me so much?
 
Before I started doing the calls I said to myself, "This is just like meeting women.  At first it's painful to get rejected, but then you learn the game and can turn the rejections around.  And the ones you can't turn around, you don't care about.  So think about it like that and don't let it bother you."
 
Worked well on paper, but when I started making the calls, I'm a 16 year-old kid again and the tough rejections have me shrinking inside. 
 
I am honestly ashamed of myself because some idiot can make me feel so crappy and I can't let it roll-off my back.

snaggletooth's picture
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Joined: 2007-07-13

If it makes it easier for you, create a list of a-holes that piss you off each day/night and take a flaming bag of dog pooh and throw it against his front door and run away.
 
Or, when you hang up with the a-hole, call right back and if he answers the phone, say, "Oh, this f-g again".  The key is to say it like your talking to someone else in the room, not him.
 
Or, send the a-hole a letter asking him to remove himself from your list by signing up for the DNC list. 

Boone's picture
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I love the call-back thing!
 
 
 
 

Hank Moody's picture
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Boone wrote:Why do the hang-ups, smart remarks, etc., hurt so bad when cold-calling?
 
I'm new to cold-calling and making 100 calls a day.  Right now that's all I can stomach.  If I make 20 contacts, about 8 are hang-ups or complete a-holes and say something smart.  But why does it affect me so much?
 
Before I started doing the calls I said to myself, "This is just like meeting women.  At first it's painful to get rejected, but then you learn the game and can turn the rejections around.  And the ones you can't turn around, you don't care about.  So think about it like that and don't let it bother you."
 
Worked well on paper, but when I started making the calls, I'm a 16 year-old kid again and the tough rejections have me shrinking inside. 
 
I am honestly ashamed of myself because some idiot can make me feel so crappy and I can't let it roll-off my back.Do you even belong in this business? Be honest.

bondo's picture
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Joined: 2007-04-15

Do a month of at least 500 calls a day and see how you feel at the end of the month.  If you feel like you do today get out of the business.

Sam Houston's picture
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Joined: 2008-12-01

Change your focus.  Right now you are looking for clients.  That sucks.  Concentrate on getting through the list ASAP.  What shakes out is what shakes out.  Don't worry about that, it will work itself out.  But if you try and get through each list quickly, before you know it you are calling 250 people a day and have a full pipeline.

troll's picture
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Joined: 2004-11-29

It's because you aren't separating your self-worth as an individual with your role as a prospecting financial advisor.

YHWY's picture
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Joined: 2007-07-18

Cold-Calling is an uncomfortable act for the vast majority of people. I know of a very rare few (two, to be exact) who actually enjoy it (they are both filthy-rich successful). For the rest of us, it is a matter of simply getting used to it through repetition. The more you do it, the more comfortable it will become. For some, it never gets comfortable enough. Then, it's a matter of prospecting by other means or quitting the business.

Anonymous's picture
Anonymous

get yourself a spoofcard so you can call them later and bitch at them. spoofcard.com

I've used mine to call people on the DNC and pretended that I'm the local jones guy. I'll bet he got fined.

gspy's picture
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Joined: 2008-12-02

1.)  Remember this is business it's not personal!
2.) If #1 fails listen to Hank's advice! (Are you right for this business?)

CFP2BE's picture
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Ominous wrote:It's because you aren't separating your self-worth as an individual with your role as a prospecting financial advisor.
 
Ding ding ding ding!  We have a winner!  Couldn't have said it better myself.  If you can't separate your self-worth from your job, then maybe you are in the wrong job.
 
If you are in the wrong job, that's not to say you are in the wrong industry and must change careers entirely.  I have a very good friend who knows more about financial planning than probably anyone and everyone on this board combined, but he is not a "rainmaker" and does not have a rainmaker's personality.  He can't prospect to save his life.  He doesn't belong in another industry, however.  His niche is to be a salaried employee, manager maybe.
 

12345's picture
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Joined: 2006-12-04

If you let the person you are calling control the call you will get eaten alive. Remember that you run the show and not the other way around. Call them as if they are subordinate to you. I have made over 40K calls in the past year and a half and have only had one person actually yell at me. It's not becasue I am lucky but because I call with confidence.
 
These are seven rules for cold calling posted by Gaddock over a year ago. I have them hanging in my office since my first day of production. They have served me well!!!
 
1.) I now call people with the purpose of disqualifying THEM.
2.) I speak to them with courtesy and respect but at the same time as if they are subordinate to me.
3.) I make my voice loud and clear trying to make it as forceful as I can.
4.) I stand up while calling and look in a mirror and force myself to smile even if a fake smile.
5.) I set my daily goal. Then one of two things will happen......I will call until 8Pm or meet my goal and go home.
6.) The most common knee jerk objections are simply ignored and I proceed with the call.
7.) I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.

SometimesNowhere's picture
Joined: 2008-12-22

12345 wrote:If you let the person you are calling control the call you will get eaten alive. Remember that you run the show and not the other way around. Call them as if they are subordinate to you. I have made over 40K calls in the past year and a half and have only had one person actually yell at me. It's not becasue I am lucky but because I call with confidence.
 
These are seven rules for cold calling posted by Gaddock over a year ago. I have them hanging in my office since my first day of production. They have served me well!!!
 
1.) I now call people with the purpose of disqualifying THEM.
2.) I speak to them with courtesy and respect but at the same time as if they are subordinate to me.
3.) I make my voice loud and clear trying to make it as forceful as I can.
4.) I stand up while calling and look in a mirror and force myself to smile even if a fake smile.
5.) I set my daily goal. Then one of two things will happen......I will call until 8Pm or meet my goal and go home.
6.) The most common knee jerk objections are simply ignored and I proceed with the call.
7.) I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.
 
Those are outstanding! Thanks for sharing, all very true.
 
Also remember, when someone is a jackass on the phone to you now, they will be a jackass to you when they are unhappy with you, and you probably don't want that person on your books anyway. Remember, you are building your business. That always helped me when I remembered that on some level I get to choose who I work with. 

someonewouldntexpect's picture
Joined: 2008-10-25

My role is a little different but entirely phone based. I get cussed at, called names, and thrown into really uncomfortable conversations every single day. Don't let it get to you, sometimes is does but go workout or for a run to work off the stress. When you're done, you're done, leave, don't bring the stress with you. 

Boone's picture
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Joined: 2008-04-11

Great stuff guys.  I REALLY appreciate it. 
A lot of it makes total sense to me, especially the getting through the list quickly early on, separating my self worth from the calls, calling as if they are subordinates, the list of seven rules by Gaddock, etc.  It's all amazing stuff.
 
As far as being cut-out for this business, hell yeah I am.  I went to college an average looking guy that couldn't say 2 words to girls, and walked-out with dual degrees, one in Finance, and the other in, how to land women that were out of my league.  (I'm still trying to figure out what good the Finance degree was)  It took MANY rejections, but persistence paid off.  Plus, if I actually think I'm not cut-out for the business, I don't have a shot before I even start.
 
 
 
 

anabuhabkuss's picture
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lol, wtf? ^

chief123's picture
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Joined: 2008-10-28

yeah that was a lot of info that should never be shared again..

Boone's picture
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Joined: 2008-04-11

I thought that would get a funny reaction!  It's all about getting emotions out of people right?
 
But I will keep it to myself going forward.  LOL

someonewouldntexpect's picture
Joined: 2008-10-25

If you want to evoke a reaction, tell them you're from the IRS.

maddmatt's picture
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My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
 

Anonymous's picture
Anonymous

maddmatt wrote: My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
 

This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.

maddmatt's picture
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Ferris Bueller wrote: maddmatt wrote:
My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
  This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.

snaggletooth's picture
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maddmatt wrote:
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.
 
So you're going to loosen up Ferris' tight ass?  Are you sure you're on the right forum?

JP1's picture
JP1
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::sigh::

Hank Moody's picture
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maddmatt wrote:Ferris Bueller wrote: maddmatt wrote:
My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
  This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.Next time you're joking, please make it funny so that we'll know.

maddmatt's picture
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Hank Moody wrote: maddmatt wrote:Ferris Bueller wrote: maddmatt wrote:
My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
  This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.Next time you're joking, please make it funny so that we'll know.
 
Oh, I forgot. You're the resident comedian. Next time I'll have you proof read my post before I hit reply.

buyandhold's picture
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You'll learn to actually appreciate hangups. You can cross them off your list and move on.
More maddening are the people who tell you on the doorstep 'Sounds great, call me next week,' or 'I have an old 401k that needs reviewing' or 'I've been thinking about this' and then never, ever, ever answer their phones.
 
 

anonymous's picture
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"You'll learn to actually appreciate hangups. You can cross them off your list and move on.
More maddening are the people who tell you on the doorstep 'Sounds great, call me next week,' or 'I have an old 401k that needs reviewing' or 'I've been thinking about this' and then never, ever, ever answer their phones."
 
Absolutely!  "No" is a great answer.  "Yes" is a great answer.  It's the people who can't say "no" that are the worst.  The ass who hangs up on you is 1000 x better than the person who says, "Call back next week", and then doesn't answer the phone.
 
My basic phoning mentality is that the person who I'm calling is already not my client.  Not calling gives me the same result as a "no".  At least with a "no", I don't have to waste more time with him.

Hank Moody's picture
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anonymous wrote:"You'll learn to actually appreciate hangups. You can cross them off your list and move on.
More maddening are the people who tell you on the doorstep 'Sounds great, call me next week,' or 'I have an old 401k that needs reviewing' or 'I've been thinking about this' and then never, ever, ever answer their phones."
 
Absolutely!  "No" is a great answer.  "Yes" is a great answer.  It's the people who can't say "no" that are the worst.  The ass who hangs up on you is 1000 x better than the person who says, "Call back next week", and then doesn't answer the phone.
 
My basic phoning mentality is that the person who I'm calling is already not my client.  Not calling gives me the same result as a "no".  At least with a "no", I don't have to waste more time with him.Fascinating.

Potential's picture
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I've been toying with a potential cold call script:
 
---------------
Hi this is Bobby Broker with Main Street Advsiors.  I'm conducting a poll of people in the community to see how they feel about their present financial advisor.  It's for a news article I'm putting together.
 
Would you say that you are the most upset about:
 
1) The fact that your present advisor oversaw the destruction of 40% of your nest egg?
2) His company's financial shenanigan's have destroyed the economy and caused untold human misery?
or 3) That his company was rewarded for this with $45 billion of your tax dollars?
 
Which of those would you say makes you the angriest?  #2 is it?  Okaaay, lemme just mark that down here...
 
By the way, Main Street Advisors didn't need a taxpayer bailout.  Yeeeeah, we're a pretty conservative outfit.  Everyone else wants to be the rabbit in the race, we're happy to be the rich tortoise that makes it to the finish line without asking the taxpayers for a handout.  Slow and steady, that's my motto.
 
I'm going to be visiting a few clients in your neighborhood on Wednesday, can I stop by to drop off a business card and introduce myself?  You sound like you have the same investing philosphy I do.
 
-----------------------
 
I kid you not.  That will be my pitch and I guarantee that 90% of people that answer the phone stick around to tell me how pissed off they are.  If you're going to provoke emotion and action, why fool around?

Hank Moody's picture
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Potential wrote:I've been toying with a potential cold call script:
 
---------------
Hi this is Bobby Broker with Main Street Advsiors.  I'm conducting a poll of people in the community to see how they feel about their present financial advisor.  It's for a news article I'm putting together.
 
Would you say that you are the most upset about:
 
1) The fact that your present advisor oversaw the destruction of 40% of your nest egg?
2) His company's financial shenanigan's have destroyed the economy and caused untold human misery?
or 3) That his company was rewarded for this with $45 billion of your tax dollars?
 
Which of those would you say makes you the angriest?  #2 is it?  Okaaay, lemme just mark that down here...
 
By the way, Main Street Advisors didn't need a taxpayer bailout.  Yeeeeah, we're a pretty conservative outfit.  Everyone else wants to be the rabbit in the race, we're happy to be the rich tortoise that makes it to the finish line without asking the taxpayers for a handout.  Slow and steady, that's my motto.
 
I'm going to be visiting a few clients in your neighborhood on Wednesday, can I stop by to drop off a business card and introduce myself?  You sound like you have the same investing philosphy I do.
 
-----------------------
 
I kid you not.  That will be my pitch and I guarantee that 90% of people that answer the phone stick around to tell me how pissed off they are.  If you're going to provoke emotion and action, why fool around?Corny and dishonest. You're on the right track about provoking emotion. Try to shorten your script a LOT and go for the throat. I was training a new cold caller yesterday and we found that you have to say things to people that most brokers are too chicken to say to get them moving.

Potential's picture
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Hank Moody wrote:Corny and dishonest. You're on the right track about provoking emotion. Try to shorten your script a LOT and go for the throat. I was training a new cold caller yesterday and we found that you have to say things to people that most brokers are too chicken to say to get them moving.
 
Yeah, it was wordy because I was making it up as I typed it.  I know I have less than 10 seconds to sink the hook.  When I was doing mortgage refinances I used a similar script, I was calling to see if people thought they were being treated fairly by their credit card companies.  Talk about shooting fish in a barrel.
 
As for your latter point, I was sitting in a Merrill office the other day waiting for an interview and had to listen to this guy nearby making cold calls that I knew would *never* be responded to.  He was calling doctors so of course, all he ever got was the receptionist shunting him over to voicemail.  "Hi this is David Kayne with Merril Lynch.  Please call me at your earliest convenience at 555-555-5555".  Talk about wasting your time.
 
Now that I think about it, if I was a doctor I would set up a dummy voicemail box and tell my receptionist to forward all solicitations to it and empty it once a week.

someonewouldntexpect's picture
Joined: 2008-10-25

I think the biggest issue is overcoming the canned sound. If it's fluid and doesn't sound manufactured then I think you're golden.

snaggletooth's picture
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I just think lying to them about writing a news article is really corny and tasteless.

buyandhold's picture
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Before you start giving inane cold call advice, shouldn't you at least get licensed.

Anonymous's picture
Anonymous

maddmatt wrote: Ferris Bueller wrote: maddmatt wrote:
My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
  This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.

Hey man, I'm open to joking around. Probably more than most people here. I just saw your post as being sincere, not a joke.

I'll assume your request to loosen up my ass was a joke, but in case it wasn't I respectfully decline.

Sam Houston's picture
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Potential wrote:I've been toying with a potential cold call script:
 
---------------
Hi this is Bobby Broker with Main Street Advsiors.  I'm conducting a poll of people in the community to see how they feel about their present financial advisor.  It's for a news article I'm putting together.
 
Would you say that you are the most upset about:
 
1) The fact that your present advisor oversaw the destruction of 40% of your nest egg?
You are assuming as most newbs in training do that everyone is down 40%.  Don't worry, your clients will also get market like returns for quite a while until you figure out what you are doing.  This phrase will work with them also.
2) His company's financial shenanigan's have destroyed the economy and caused untold human misery?
There have been some big stories recently about Jones reps and they were not flattering.  Slinging dirt can work both ways.  Do you really want clients who respond favorably to this?  Another newb mistake.
or 3) That his company was rewarded for this with $45 billion of your tax dollars?
 
Which of those would you say makes you the angriest?  #2 is it?  Okaaay, lemme just mark that down here...
 
By the way, Main Street Advisors didn't need a taxpayer bailout.  Yeeeeah, we're a pretty conservative outfit.  Everyone else wants to be the rabbit in the race, we're happy to be the rich tortoise that makes it to the finish line without asking the taxpayers for a handout.  Slow and steady, that's my motto.
 
I'm going to be visiting a few clients in your neighborhood on Wednesday, can I stop by to drop off a business card and introduce myself?  You sound like you have the same investing philosphy I do.
Clients don't work with firms, they work with you.  What is it you do again?  I seem to have missed it in your post.
-----------------------
 
I kid you not.  That will be my pitch and I guarantee that 90% of people that answer the phone stick around to tell me how pissed off they are.  Sorry, now I see, your a grief counselor.  Got it.  If you're going to provoke emotion and action, why fool around?

maddmatt's picture
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Ferris Bueller wrote: maddmatt wrote: Ferris Bueller wrote: maddmatt wrote:
My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:
Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
  This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.
 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up. Hey man, I'm open to joking around. Probably more than most people here. I just saw your post as being sincere, not a joke. I'll assume your request to loosen up my ass was a joke, but in case it wasn't I respectfully decline.
 
No harm, no foul. I was just making fun of the original poster for positing his ladies man persona all the while lamenting over his bruised ego by way of cold calls and such. Truth is, there is an element of truth to my post. Making "love" to the phone does work. Smiling in the mirror also works. So, because I was a smart ass, I will now give actual phone calling advice (for what it's worth):
 
People do not want to be bothered. They certainly do not want to be sold anything over the phone. When you call somebody you have to realize you are interrupting whatever it is they were doing. When you jump into a pitch (especially the canned variety) you will piss them off to no end. The only way to combat this is to throw them off balance within the first 5 seconds. Tom Hopkins had a great way of leading into a phone call. I will let Tom give you his advice: "Mr. Jones, please. Mr. Jones? Thank you! Mr. Jones, this ......" Now, why does this work? Mainly because the prospect heard his name 3 times in your first sentence. What is everyone's favorite subject? Bingo! Themselves. Focusing on the prospect and getting them to talk about themselves will go further to set an appointment (which is all you should be doing at this point, right?) than trying to pitch an idea. Save the pitch for in person when you have total control and after you have established rapport. You can sell ice to Eskimos, but only after they learn to trust you. Some guys will blow through these calls looking for the lay downs. I made a living working the customers they were too lazy to work. I am not a licensed FA, but I have 20 years of sales and training experience. I promise you, putting the customer first and playing to their needs and desires will always pay off more than trying to be Slick Willie with the latest, greatest scheme. BTW, slow down the process. It allows you to gain control. Learn how to fluctuate your voice so that the monotone doesn't turn off their hearing. It's a beautiful thing when someone you have never met is repeating your name, the time and day you will be there as they're writing it down. "Oh, and by the way, I'll be stopping at Starbucks on the way. Do you like yours black?"
 
And no, I don't see loosening up anyone's ass in the forecast. LOL!

Baba Booey's picture
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Joined: 2009-01-05

Hank is right.  If you give two sh*ts about someone hanging up on you or being mean to you on the phone....you should really reevaluate whether you should be in the business.
 
How are you going to sit across from a client who gave you $300k, and in 6 months it's worth $200k?  Are you going to be able to tell them with confidence they are still on track, and that you stand by your investment recommendations, and bailing out right now make no sense?
 
If strangers on the phone get you off track....you haven't seen anything yet.

Neanderthalman's picture
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Joined: 2009-01-04

A woman calls her boss one morning and tells him that she is staying home because she is not feeling well.

"What's the matter?" he asks.

"I have a case of anal glaucoma," she says in a weak voice.

"What the hell is anal glaucoma?"

"I can't see my ass coming into work today."

...little laugh to lighten this up.

I think it would be daunting to cold call - especially if you're not used to it. But if its a job requirement, then it has to be done and I'm sure in time your skin will thicken - you won't hear those jerk-offs and think of a joke.

Potential's picture
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Joined: 2008-11-20

snaggletooth wrote:I just think lying to them about writing a news article is really corny and tasteless.

 
Yeah, like I said, I was just making it up off the top of my head.  But it probably would be an interesting poll and accompanying article.

Potential's picture
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Joined: 2008-11-20

buyandhold wrote:Before you start giving inane cold call advice, shouldn't you at least get licensed.

 
Is a license now required to have a casual conversation?  I wasn't aware of it.
 
People around here really need to lighten the &*^% up.  I've seen some cranky forums in my day but people make a point of coming here to piss on each other, day in, day out.

snaggletooth's picture
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Potential wrote:  I've seen some cranky forums in my day but people make a point of coming here to piss on each other, day in, day out.
 
What's wrong with that?

Anonymous's picture
Anonymous

Potential wrote: buyandhold wrote:Before you start giving inane cold call advice, shouldn't you at least get licensed.

 
Is a license now required to have a casual conversation?  I wasn't aware of it.
 
People around here really need to lighten the &*^% up.  I've seen some cranky forums in my day but people make a point of coming here to piss on each other, day in, day out.

Emobroker would be be a better username for you.

someonewouldntexpect's picture
Joined: 2008-10-25

I would love to see a door-to-door broker dressed in Goth and slitting his wrists while explaining to the prospect that he can handle the market.

Hank Moody's picture
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Joined: 2008-11-10

Potential wrote:buyandhold wrote:Before you start giving inane cold call advice, shouldn't you at least get licensed.

 
Is a license now required to have a casual conversation?  I wasn't aware of it.
 
People around here really need to lighten the &*^% up.  I've seen some cranky forums in my day but people make a point of coming here to piss on each other, day in, day out.Yes, a license is required.

Potential's picture
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Joined: 2008-11-20

Hank Moody wrote:Yes, a license is required.
 
A license is required for me to have a conversation in this forum?  Really?  I didn't know that.
 
I take great consolation in knowing how unhappy and miserable the lives of the serial griefers on this board must be.  It's always the same five guys.

Takingnames's picture
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Joined: 2007-11-09

Your sole objective in making calls is to find someone qualified who is willing to meet with you. That's it. Anyone else is not the right person and is not a prospect. The ones who hang up on you, the ones who yell and the a-holes are precisely the people you don't want to be working with.  
 
You can't "make" them the right prospect, you can't "make" them polite, you can't "make" them a customer. In other words, there are things you can't control.  
 
You CAN control:
~The list you call from
~The number of calls you make
~The responses you make to objections
~Your attitude. 
 
...and that's all I have to say about that.
 
 

HymanRoth's picture
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Joined: 2008-08-25

Potential wrote:Hank Moody wrote:Yes, a license is required.
 
A license is required for me to have a conversation in this forum?  Really?  I didn't know that.
 
I take great consolation in knowing how unhappy and miserable the lives of the serial griefers on this board must be.  It's always the same five guys.Five guys?  Is it a coincidence that "five" is the highest you can count with one hand?

SometimesNowhere's picture
Joined: 2008-12-22

someonewouldntexpect wrote:I would love to see a door-to-door broker dressed in Goth and slitting his wrists while explaining to the prospect that he can handle the market.

 
Stop it! If I have to charge one more keyboard against my P&L because I spit water on it laughing out loud, I am writing a mean letter to RR.
 
Just to keep count, there are now almost 6 pages of discussion regarding "rejection hurt"...I'll bet if you spent more time calling and less time thinking about your feelings...well...you know what is coming next...

Potential's picture
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Joined: 2008-11-20

HymanRoth wrote: Five guys?  Is it a coincidence that "five" is the highest you can count with one hand?

 
Yes, it is a coincidence.
 
Truth be told, it's really only three guys.  Okay, make it four.

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