Journey to T12= $1,000,000
191 RepliesJump to last post
Longshot, thanks for posting! I enjoy checking your daily logs to see how you're progressing.
Also, PM sent.
LS; I've been browsing your log and am proud of your discipline. It's the right approach to keep hitting it.
An observation or two from a cold calling fan. Don't get too caught in the initial calls and forget the call backs. You should have enough prospects in your pipeline to be doing call back contacts and drip work. Track that too. One way to do that is to make 10 circle back touches and calls a day (or week if the pipe isn't too robust)
How does your pipeline look from CC if you compare it to networking or natural network or seminars?
Are you doing other marketing activities? I ask because each activity uses different skills sets and helps make you a better closer.
Kicking A and Taking Names
taking names- thats what i desperately need to work on...most of it comes down to organization..for example, all i am doing now is going through my call sheets and calling people i have spoken with in the past and today came across someone who had my info and wants to get together in a few months...not a great contact but i had no clue who he was..plenty more like that...so i am going through my lists and keeping track of the better ones while adding others on...i have been in a funk lately..self esteem and confidence are trending to an all time low...Need to find something to break this...i can hear it in my voice and im sure people on the other line can as well...mentally in a bad place and beaten..back at it tomm..hopefully some results...need to hit it hard before the new years and my numbers start to matter....
101/21
I agree with taking names.
Keep it up long shot. Keep prospecting and following up and closing. You have a high probability chance at success as long as you never quit prospecting. appreciate your posts.
[quote=TheMachine]
I agree with taking names.
Keep it up long shot. Keep prospecting and following up and closing. You have a high probability chance at success as long as you never quit prospecting. appreciate your posts.
[/quote]
Yep, closing.
During followup calls have 3 or 4 well written closing questions or statements handy and the goal should be to get to one closing question chosen depending on the situation of the call. Out of 10 followups, you should get to your closing question on 3-5 of them and then be busy writing up a ticket on 1.
Had an appointment in the morning then hit the phones..was cruising along then the hr person called and told me to stop..still was able to sneak two prospects out of it. Nothing too exciting..33 contacts and 2 prospects
[quote=long shot]
taking names- thats what i desperately need to work on...most of it comes down to organization..for example, all i am doing now is going through my call sheets and calling people i have spoken with in the past and today came across someone who had my info and wants to get together in a few months...not a great contact but i had no clue who he was..plenty more like that...so i am going through my lists and keeping track of the better ones while adding others on...i have been in a funk lately..self esteem and confidence are trending to an all time low...Need to find something to break this...i can hear it in my voice and im sure people on the other line can as well...mentally in a bad place and beaten..back at it tomm..hopefully some results...need to hit it hard before the new years and my numbers start to matter....
101/21
[/quote]
Agree. You have momentum; and you have grit. What you are missing are elements of a complete process. There is more to cold calling than the initial calls. Don't get down on yourself. Get organized. You will feel better. Take a weekend and get your prospect data organized off those sheets and then organize the information after every cold call session.
Get the prospects and people who will take your call off the sheets or you are flipping pages and pages over time. Use the sheets ONLY to cold call from and qualify. Copy the information to something else once they become a prospect (I use index cards and a contact database).
On the index cards, I include name, address, phone number, qualifying information, campaign note (did you call on bonds, annuities, 401k rolleover, financial planning that day ) and any detail they provide you. Were they sick when you talked? - write that down. Did their dog bark and they say "Shush Fluffy"? write that down. When you call back, you will remember to ask - are you feeling better? Or How is Fluffy? You will sound more confident.
Make detailed notes. Note the date of the call and note the phone number. Use the same format to make it easy to use to call from later. I find recording my side of the conversatoin and playing it back while I take my notes is very useful for remembering the dialogue.
Data enter them in batches to your contact system and file them alphabetically so you don't get sidelined by a call like that. You were probably shuffling through sheets of thousands of leads; instead of succinctly going to your gold nuggets - the prospects. When they are filed neatly in a paper format AND in your contact software; you have two easy and quick ways to retrieve the info. If you just rely on those sheets - you'll be a mess.
When you have a batch to call back - call 3 or 5 or 10 every day, depending on how many you have. You will eventually be cycling through dozens and even hundreds of people. Add them also to distribution email lists as 500 day war notes - Most firms don't allow more than 25 - SOoooo create distribution lists of 24 and send them out in cycles.
Take one day and start your cold calling with circling back calls. Or start every session with three call backs (from experience, I reccommend NOT doing this at your stage of production because you will get all excited about something they ask for and run down a rabbit hole of research or sending them email or something. Either use one day or END you cold calling sessions on warm calls (warm calls can be a nice way to end on an up note if you have a tough cold call day. The people are more receptive)
It's not rocket science, but becoming disorganized will make you ineffiecient and will impact your sense of control and your emotions will get messy too. PM me if you want more personalized insight.
An important note. Your numbers look good. Stick with it, Long Shot. It's like working out - it sucks most days, but over time you are stronger and look better. You are working against the weight of the phone, the clock, the market flux, the regulators and the emotions of the clients. You will be strengthening your self, becoming resilient and flexible in a way other advisors simply are not because you are a cold caller. So will your financial advisory practice built on cold calling.
High Five to you, Long Shot;
Kicking Ass and Taking Names
Kicking and Taking
+1 for what Takingnames said. For awhile I fell into the trap of doing initial calls and then not getting around to a regular follow up call. The originization is absolutely VITAL.
Have not posted in a few days so making up for it...I have been working just havent been on the computer..been very challenging and frustrating lately..i have taken the advice on here and spent some time going back through all my contacts and tracking down the people i have talked to...takes a little while to go back over almost 18 dials worth of names..not quite done but am more organized and regrouped with people i almost all but lost..never should have let that happen..mistake that can be learned and improved from..I had an assessment to make sure my skill set is on par and to review my biz plan..mixed feelings from it..what i learned is that i am working harder then most the new brokers..have a better skill set then most new brokers...and have lower numbers then most new brokers..so something needs to be fixed..i think the follow up calls are a huuge part of it and i think improving my lists is another...I am missing some major ingredient when making my calls but cant seem to figure out what it is and how to fix it..i def have some good prospects in my pipeline that are willing to do business but that doesnt matter until they hit the books...going to keep pushing and pushing...need some stuff to happen in december so i can make sure to keep my job...
11/29-36 dials 11 contacts
11/30-152 dials 33 contacts
12/01-27 dials 5 contacts 1 prospect
12/02-95 dials 37 contacts
12/05-134 dials 42 contacts 2 prospects
not quitting....
[quote=long shot]
Have not posted in a few days so making up for it...I have been working just havent been on the computer..been very challenging and frustrating lately..i have taken the advice on here and spent some time going back through all my contacts and tracking down the people i have talked to...takes a little while to go back over almost 18 dials worth of names..not quite done but am more organized and regrouped with people i almost all but lost..never should have let that happen..mistake that can be learned and improved from..I had an assessment to make sure my skill set is on par and to review my biz plan..mixed feelings from it..what i learned is that i am working harder then most the new brokers..have a better skill set then most new brokers...and have lower numbers then most new brokers..so something needs to be fixed..i think the follow up calls are a huuge part of it and i think improving my lists is another...I am missing some major ingredient when making my calls but cant seem to figure out what it is and how to fix it..i def have some good prospects in my pipeline that are willing to do business but that doesnt matter until they hit the books...going to keep pushing and pushing...need some stuff to happen in december so i can make sure to keep my job...[/quote]
I assume you're all slingin the same product since you didn't mention yield or anything when comparing numbers against the new boys.
The big thing in this business after working hard and the activity is the results. The way to get the results from your activity is to have an idea of what your practice should look like. Fee based, commissions, using managed money, etc... Is it a prospect, meeting, plan, meeting(product implementation) template? What is your process to get to the close?
Had to leave a little early today..plan was to go home and have a break then call to six but not happening..finally got all of my prospects organized and identified..I have about 250 leads to now work through..so that part is better. Still. Eed to get some numbers on the board but going to keep pushing..3 appointments with prospects booked today..so that's a win..76 dials and 17 contacts..lower day but now that the organization is better can pick it back up.. Back at it tomm..
Well done on the pipeline LongShot....should be 10-15 low hanging accounts in there.....talk to them......move them along...great job you are doing.
All The Way
[quote=long shot]
That I do not know...I think most are offering reviews..78/25..plugging away
[/quote]
lulz.. I doubt new boys are beating you with reviews. If they're truly bringing in more cold, and on a consistent basis, then they're either getting a closing question asked to more people or pitching a better prospecting product.
Based on everything you have posted, start the next week with a call toevery good lead/prospect etc. you have and ask them an elimination question. Get that list cleaned up. Then only keep calling the ones that may do business in the next 6 months.
You should be able to eliminate 80% of your list to date and be more productive next year.