Smokey, I will create that ID by this weekend!  I tried doing it at work but of course, it's blocked! 

 BFP you should join us

I'm a phase three rep, you guys are phase one.

My goals are quite different. This next year, I've got a couple major issues to deal with, after that, life's gravy. So, in a way, I've got the gun to my head too.

I think we can all agree that that prospect is, as stated above..

4) # of prospects (qualified for dollar, interest and willingness to invest)

i do understand the point system, because once somebody gets a ton of prospects, they will spend more time closing accounts than dialing, and their numbers will go down on contacts and up for accounts.

scoring system we use here is.

0 points for dials, to be tracked, not counted

1 point for contacts

5 points for prospect qualified

10 points for appointment

15 points for close.

our goal here is to get over 50 points a day.

anyway thats one option open for discussion, and once set up it should be all automated because this should not take more than 5 minutes a day to update.

[quote=smokey]

I think we can all agree that that prospect is, as stated above..

4) # of prospects (qualified for dollar, interest and willingness to invest) I think we should leave this off as everyone will be qualifying for a different amount/product etc..

i do understand the point system, because once somebody gets a ton of prospects, they will spend more time closing accounts than dialing, and their numbers will go down on contacts and up for accounts.

scoring system we use here is.

0 points for dials, to be tracked, not counted

1 point for contacts

5 points for prospect qualified

10 points for appointment

15 points for close.

our goal here is to get over 50 points a day.

anyway thats one option open for discussion, and once set up it should be all automated because this should not take more than 5 minutes a day to update.

[/quote]

- 1 point for every new contact
- 1 point for every hour worked
- 5 points  appointment 
- 1 point for each marketing piece/mailer sent out (10 points maximum/day)
- 10 points for a new account

Edited a little for newbies(took out calls to existing clients etc) MINIMUM 62 pts (40 contacts/12hrs worked/10 marketing/mailer pieces)

Someone posted this before

While you can develop a system that works for you, here is what worked for me: The goal is 100 points/day and 500 points/week.  Here is the point system I devised:
 
- 1 point for every new contact
- 2 points for every follow up call to an existing prospect
- 1 point for every client call
- 1 point for every hour worked
- 5 points for arriving to work by a set time (think early morning here)
- 5 points for each 30 minute appointment (i.e. 1 hour appt. = 10 points)
- 1 point for each marketing piece/mailer sent out (10 points maximum/day)
- 5 points for a new account

[quote=palmpre]

[quote=smokey]

I think we can all agree that that prospect is, as stated above..

4) # of prospects (qualified for dollar, interest and willingness to invest) I think we should leave this off as everyone will be qualifying for a different amount/product etc..

i do understand the point system, because once somebody gets a ton of prospects, they will spend more time closing accounts than dialing, and their numbers will go down on contacts and up for accounts.

scoring system we use here is.

0 points for dials, to be tracked, not counted

1 point for contacts

5 points for prospect qualified

10 points for appointment

15 points for close.

our goal here is to get over 50 points a day.

anyway thats one option open for discussion, and once set up it should be all automated because this should not take more than 5 minutes a day to update.

[/quote]

- 1 point for every new contact
- 1 point for every hour worked
- 5 points  appointment 
- 1 point for each marketing piece/mailer sent out (10 points maximum/day)
- 10 points for a new account

Edited a little for newbies(took out calls to existing clients etc) MINIMUM 62 pts (40 contacts/12hrs worked/10 marketing/mailer pieces)

Someone posted this before

While you can develop a system that works for you, here is what worked for me: The goal is 100 points/day and 500 points/week.  Here is the point system I devised:
 
- 1 point for every new contact
- 2 points for every follow up call to an existing prospect
- 1 point for every client call
- 1 point for every hour worked
- 5 points for arriving to work by a set time (think early morning here)
- 5 points for each 30 minute appointment (i.e. 1 hour appt. = 10 points)
- 1 point for each marketing piece/mailer sent out (10 points maximum/day)
- 5 points for a new account

[/quote]

Not a bad idea there...

I like the idea of a point system....that's actually a GREAT idea!!

62 points daily sounds tough, but it seems like that's what we all need to hold each other accountable to succeed.

Let's do daily reporting on points, I will get a spreadsheet up, once we get all the names of our members who will be joining in us in our journey.

newregrep, a few people have already sent me their google ID's. if you'd like to set the spreadsheet up , that'd be great, I can just send you the google ID's to share it with.

Ok folks, the 4 of you who sent me your ID's have had the document shared with them.  I've also created a word document which for now can be used for instructions but later we can share ideas on what is working and what is not. 

The few of you who said you would send your Google ID to me, send it and I will share the file with you also. 

Obviously Jan 2nd is a Sunday so we will start Jan 3rd and the more people we have doing it, the better.

Just PM me your Google ID and I will share the file with you.

A closed-end question (question that requires only a Yes/No answer) is the quickest way to end a convo on the phone with a prospect. Especially, a cold prospect.  

How would getting 6% tax free on your money fit in with the rates you're already getting?

West how much AUM do you have thus far?  Great thread!

will report tonight!

Anyone have some good phone scripts that they could share? I know it's a rather personal and style thing but I'm just looking for some ideas to help me in finding my calling voice. I've been making many more calls the past few months and I found a legit big fish, but I'd like to be more structured in my approach.

Hi guys.

Just found this forum a couple of days ago and found this post yesterday. Definitely a great idea and one which I want to be a part of. I just started my cold calling campaign and this competition is a great way to keep me motivated! I requested access to the Google Doc and hope to be putting up my numbers soon.

Hey guys, can a girl also join this goal setting group.  I'm also trying to build my aum.  I work  at a indy firm as a sub rep so  i need to build my aum.  I will pm smokey as well.

bullishfuture and anyone else interested, send me a message with your Google ID and I will add you to the group. sorry fell behind these past couple of days but am happy to add anyone who wants to join in.  

[quote=smokey]

I think we can all agree that that prospect is, as stated above..

4) # of prospects (qualified for dollar, interest and willingness to invest)

i do understand the point system, because once somebody gets a ton of prospects, they will spend more time closing accounts than dialing, and their numbers will go down on contacts and up for accounts.

scoring system we use here is.

0 points for dials, to be tracked, not counted

1 point for contacts

5 points for prospect qualified

10 points for appointment

15 points for close.

our goal here is to get over 50 points a day.

anyway thats one option open for discussion, and once set up it should be all automated because this should not take more than 5 minutes a day to update.

[/quote]

This scoring system seems backwards to me. There should be points for making the dials. Picking up the phone is not only the most important part of the process, but the hardest part to do. IMO, not only should there be points for dials, dials should get the most points.

That brings me to the backwards nature of this points system. The highest points are awarded for actions over which we have no control. For example, appointments. On any given day you can ask for one appointment and get it while i ask for ten and get none. Granting the appointments is out of our control. Why so many points for something over which we have no control?

A reward system, whether points, or a dinner out on the town, should  recognise only those aspects of the process for which we have total control. Dials, any close that progesses toward an account opening etc. After-all, I can only ask for the order, I can't say yes for the prospect or client.

Bondguy i see ur point on appts. because there have been times where i will have an appt and it may be cancelled. so ur correct i no control over that.

You do have control over how many appointments you set.  By asking for them.  Adjust your point system to reflect activities - not results.  How many calls, how many asks for the orders, how many ask for the apts, etc. etc.

After you get a few weeks of data you'll be able to really dig into the metrics and make tweaks to your scripts to increase your %s,

[quote=SuperMan]

You do have control over how many appointments you set.  By asking for them.  Adjust your point system to reflect activities - not results.  How many calls, how many asks for the orders, how many ask for the apts, etc. etc.

After you get a few weeks of data you'll be able to really dig into the metrics and make tweaks to your scripts to increase your %s,

[/quote]

Asking is the action over which you have control. Thus you have control over how many times you ask. Asking for appointments comes under the more general heading of closes. It is a type of close that moves the process forward. That's what should be counted.

While rewarding results, such as opening an account or getting an appointment is the way most of the sales world works, the advisor has no control over those actions. Those are client actions. The advisor should be rewarded only for action they control..

And, while I generally agree with "The more you ask, the more you get" the asking is the only part of the process under the advisor's control.

That is not totally true.  How you ask is although not as important as the action has an impact on your % of people agreeing.  It's why some have much better close rates than others.