Gethardgetraw's 2009-2010 Cold Calling Journal
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Why no sales. I just read 29 pages and didn’t see a single sale. Pound the phone all you want, but 2 prospects and no sales is going to hurt you each day. Get out there and walk around. Don’t be afraid to see people face-to-face for the first time. It is harder for someone to turn you down when they’re looking at you than it is when you’re just a faceless person on the phone.
Been hitting the phones hard today; catching people at home seeing that it’s President’s Day.
Just got off the phone after scheduling an appointment for a 401k rollover for later this week. Here's my script, please critique:Hello _____? Hi, my name is _____ and I am a retirement specialist at Edward Jones here in _____. I focus soley on giving my clients a clear picture of their retirement based on their current portfolios.
And I was calling to see if you've recently taken the time to do a thourough assessment of your retirement savings.
(Yes or No, doesn't matter) Ok, well I have a very powerful piece of software that allows me to map out the 30 or so years of your retirement and pinpoint any shortcomings that may exist (installs fear). And I know this isn't the most exciting aspect of financial matters, but I think it's the most important. And I do have some time available later this week, and I stress, leave the checkbook at home; I'm not selling anything, but I do have some time available on _____ or _____ if you'd like to drop in to see if we could eliminate some of the uncertainty with regards to your retirement. (No) Thank you for your time.
(Yes) Great, I have you down for _____ on _____. And this is where I kind of play the financial doctor, so in order to give you an accurate diagnosis of where you stand, you'll need to bring in your latest statements so we can get a look at the big picture. Sound good? Great, see you then. Lay it on me.
“A very powerful piece of software”?? Come on man.
"If you'd like to drop in"??? Come on man. If you get a 10% set/seen ratio with that phone script I would be amazed. Where's the urgency? That sentence about having a powerful piece of software that could identify shortcomings will install fear into nobody. Where are the open ended questions? Even "On a 1 to 10 scale how confident are you that you can retire?" 6. "Well if I can find a way to take you from a 6 to a 10 would that be worth 45 minutes of your time?" is better than anything that was in your script. And that '1 to 10 scale' line is for trainees.Im a bank boy so I am not the most knowledgable script writer, but I did do a good amount of cold calling when I was at EJ. I like what you have here, but I would reword the “very powerful piece of software” line and also eliminate the “checkbook at home” comment and “financial doctor” comment. I think the rest is very solid.
I have a very powerful piece of software
Don’t patronize people.
[quote=gethardgetraw]and I stress, leave the checkbook at home[/quote]
Are you not wanting to be a closer?
[quote=gethardgetraw]And this is where I kind of play the financial doctor[/quote] Really? Financial Doctor?
On a serious note:
How are your sells coming along? You haven’t posted an sells in 29 pages. New Accounts? New AUM? Revenues?
I think your script is way too long. The key to cold calling is making the prospect talk and not vice versa. Have a conversation with the prospect and ask open ended questions such as " how do you feel about your investments? You’ll be surprised by the responses
You all know it when you see it. That smokin’ hot local bond that has <$1mm inventory thats flying off the shelf. You pick up the phone. Call your best prospect. Refresh the inventory. $100k left. You inform him that this is one of the good ones and it’s going extremely quickly. He asks the price, the quantity left, confirms the coupon rate. And he pulls the trigger. “Buy all that’s left. I’ll be in this afternoon with the check.” What? What did you just say? Are you f’ing serious? Hope to god you weren’t thinking out loud. Ok ok focus. Jesus. Never opened an account this fast. Flying through all the key questions, nailing all the disclaimers. He’s answering as quickly as possible. Account opened. You slam the phone. Refresh the inventory. Still $100k. You place the $100k buy. Refresh the inventory. The bond is gone thanks to you.
It’s been a good day.
So you finally made a sale. Good for you (seriously).
Now stop posting and get back on the phone. Use that good mojo to get another.
On to the next one, on to the next
On to the next one, on to the next
On to the next one, on to the next
On to the next one, on to the next
And I’m on to the next one
this thread is usually the last 10 min of humor in my day. unreal.
Just what I would be looking for. Some 20 something who doesn’t know sh-t, calling me wasting my time. Go somewhere for 10 years and get some experience junior. The only money you’re going to get is a few “I feel soory for the little prick” dollars.
gb0414 - you’re 26 years old.
navet - you’re a newbie in his first 3 years at Edward Jones.
But I concede. You guys are right. Edward Jones is the worst firm to start with while garnering experience in this industry. Better to start in your 30s than your 20s in my opinion.
And damnit you’re right again, $100k orders are dog-shit transactions. $250k minimum.
The two should know that it takes balls of steel to criticize someone for the sole reason to bring them down. It reflects positively on yourselves and makes you look like even bigger of a man. It shows character. You’re the 2 FA’s standing on the parameter at the Regional Meeting gauking at how phony the meeting is, so angry at everyone else for being in such a positive mood. The fact that you visit my journal to slam every post while refusing to offer constructive criticism shows self confidence and a humble ego.
[quote=gethardgetraw]gb0414 - you're 26 years old. navet - you're a newbie in his first 3 years at Edward Jones. But I concede. You guys are right. Edward Jones is the worst firm to start with while garnering experience in this industry. Better to start in your 30s than your 20s in my opinion. And damnit you're right again, $100k orders are dog-shit transactions. $250k minimum. The two should know that it takes balls of steel to criticize someone for the sole reason to bring them down. It reflects positively on yourselves and makes you look like even bigger of a man. It shows character. You're the 2 FA's standing on the parameter at the Regional Meeting gauking at how phony the meeting is, so angry at everyone else for being in such a positive mood. The fact that you visit [b]my journal[/b] to slam every post while refusing to offer constructive criticism shows self confidence and a humble ego. [/quote]
even though you couldn't spell my username right i'll just assume your talking to me.
1. i didn't criticize you i laughed (and laugh) at other peoples comments, so get your panties out of a bunch
2. i'm at an indy so i don't have regional meetings
3. i've never slammed any of your posts, and i'd probably offer the same constructive criticism that gets written by someone else, so again, stop freaking out. your very emotional
Haha nice. Basically closed on a million dollar account I've been working on for the past 2 months. Transfer came in yesterday and placed the buys today. $300k of it was straight cash from Merrill Lynch =)
The client and I just hit it off and he transferred it all.
This is what it's all about!