Great thread, cold calling is a great confidence builder, a great way to sharpen your speaking skills and sales pitch, it is the heart of my business and I love the challenge.I call all over the country and if you project confidence, have a great story for the product your pitching, people will connect with you and being from a different state, continent means nothing.I live in NYC and always treat my clients when they come to town, if they write a big enough ticket, 500k, 1 million, steak dinner at sparks, cigars, Scores for strippers and a sexy call girl at the Waldorf for the weekend

Btw,the 500 day war posting is a great plan of action.Remember, plan your work,work your plan.

FA9,I have the new account form next to the phone.After my pitch, usually the second or third call, I close the guy by creating a sense of urgency and tell him in order to hold his spot at the table or to set aside stocks of the limited allotment given to the firm,ipo, secondary, etc. I’ll need new account information, if I get that, the guy is 99% closed.Next if it’s a new client, I schedule a fed ex pick up for the check the next day, better to get a check than a wire from a brand new client, wires are for the next deal,trade.If you can’t get new account information, the guy is either a piker and not real or you’re not closing him the right way and don’t believe in what you’re pitching.

I agree with just about everything here. I’m in sort of a different world in commodities but I will e-mail the new account documents to print, or walk them through new account documents online. Either way I am on the phone with them, walking them through it (I spend a lot of time on hold). Then it’s all about the Fed Ex. That is the best $15 or so that you could ever spend. Overnighted and ready to rock the next day. I also agree that if they don’t do docs then they are jerking you around. I will usually use the Ziglar scale of 1-10 close and that usually let’s me know right there what my next step should be. The only thing that I disagree with is the wire transfer. I love wire transfers but of course that again puts the ball in their court and you have to wait for and trust them to get to the bank. I will usually tell them to print out the wiring instructions that I e-mail to them, and take it to the bank. That sometimes helps.



[quote=newbee] FA9,I have the new account form next to the phone. After my pitch, usually the second or third call, I close the guy by creating a sense of urgency and tell him in order to hold his spot at the table or to set aside stocks of the limited allotment given to the firm,ipo, secondary, etc. I’ll need new account information, if I get that, the guy is 99% closed. Next if it’s a new client, I schedule a fed ex pick up for the check the next day, better to get a check than a wire from a brand new client, wires are for the next deal,trade. If you can’t get new account information, the guy is either a piker and not real or you’re not closing him the right way and don’t believe in what you’re pitching.[/quote]

I also get on the phone at not later than 8,last call between 6:30 and 7, eat lunch at my desk about 15-20 minutes, wear a head set and rarely am I seated when I’m talking to(projecting,animated, loud voice) a prospect.I shoot for a minimum of 3-5 qualified leads a day and have gotten as many as 10 while trying to achieve 250-300 dials a day.My minimum qualifiers,accredited investors liquid for $25k-$50k, can’t do that, we can’t do business.

I like your thoughts on cold calling. I have had minimal success cold calling, but I continue to do it. The reason I force myself to do it is because I think it helps me develop the mental toughness I need to make it in this business. I was a college athlete and have been a head high school coach for many years. This background taught me the value of discipline, competitiveness, and mental toughness. I am convinced that these traits must be present to even have a prayer of making it in this business.



Just soliciting some advice from you. Your basic approach is to stand while you call and speak with firmness and conviction and simply move on as quickly as possible once your realize that doing business is not going to happen? It does seem that a large part of making this work is attitude?

Try coaching a game while sitting at a desk. The standing and walking is for fluidity. It gets the blood pumping and the creative juices flowing in my opinion. As far as making something work, I know within the first 3-5 minutes of a call if the guy is “my guy”. I will build rapport, then do some fact finding. If the guy doesnlt have time, money (especially money), and interest, I am offf the call. If he has time, money, and interest then we can go deeper. But I’m not gonna spend time trying to force a square peg into a round hole.

I agree. Another great question in the qualifying process to help sort out a good prospect from the time wasters is to ask the guy if he’s ok with doing business over the phone.

I get hung up on , told off, threatened, etc. all day long, helps build my confidence, improves my pitch and lets me see the humorous side of the anger of guys on the other side of the phone.I try to keep my head clear and focused every morning, little or no distractions and I try to keep up my routine 3 to 4 days Mon - Thurs, there is no hanging out in the middle of the week unless it’s for business. Friday I end my day at the close of the market and head out for happy hour with the guys, throw in a few hours 1 or 2 Saturdays a month.It’s a great feeling at the end of the week knowing you’re setting up future business by busting your ass today and doing it in a smart productive way.

Remember, each no brings us closer to yes

My main focus is listening. Listening for cues to mood in the voice, inflection, concerns.  Then, I match it. I match cadence, tone, energy and people who have watched me call say I move my body around in synch. Quiet people, I hunch up, and get quiet. Loud people, I stand and get bombastic. It works.

now that i finally have the balls to make some cold calls, what do you guys say to get past the gate keepers/receptionists?  this forum has been very helpful BTW!

Good afternoon, Is ___________ available…?

“who is this”

This is ______ from _____…

"what does this have to do with…?"

It is of a personal business matter…

"WTF does that mean?"

I am calling to make an introduction to Mr. ______, is he available…?

"Yeah if you tell me why you are calling in more detail…"

Please let Mr. _____ know  ______ from ______ called, and thank you for your time.

HANG UP…

It doesnt get much worse than that…

You can always say, "Thanks for your time my other line is ringing, it must be Mr. _____ " lol

My BM is pushing HARD for everyone to focus on building fee-based accounts.

Do any of you cold-calling gurus consistently establish fee-based business out of state, or is it mostly transactional business?

It seems like it would be difficult to assemble a comprehensive financial plan over the phone.

I’m sure it can be done, but is it impractical to attempt on a consistent basis?

so i just bought bill good’s book after seeing his name so many times on this forum.  gotta do some digging to find the PWs.

My BM is pushing HARD for everyone to focus on building fee-based accounts.

Do any of you cold-calling gurus consistently establish fee-based business out of state, or is it mostly transactional business?

It seems like it would be difficult to assemble a comprehensive financial plan over the phone.

I’m sure it can be done, but is it impractical to attempt on a consistent basis?