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Cold calling

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Cold calling

  1. 1. _________________________________________________ Overcoming the Fear of Cold Calling 1This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Overcoming theFear ofCold CallingJeffrey J. MayerFrom the author of Opening Doors with a Brilliant ElevatorSpeech, Winning The Fight Between You and Your Deskand Creating Opportunities by NetworkingLearn how to use the telephone to createnew opportunities, close more salesand make more money.
  2. 2. _________________________________________________ Overcoming the Fear of Cold Calling 2This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Overcoming theFear ofCold CallingNOTICE: This Training Manual is licensed to the original purchaser only. Du-plication or distribution via e-mail, floppy disk, network, printout, or othermeans to a person other than the original purchaser is a violation of Internationalcopyright law and subjects the violator to fines and/or imprisonment.CopyrightCopyright © 2003 by Jeffrey J. Mayer and Succeeding In Business, Inc. Allrights reserved. No part of this eBook may be reproduced in any form, by anymeans (including electronic, photocopying, recording or otherwise) without theprior written permission of the publisher.Published bySucceeding In Business, Inc.50 East Bellevue PlaceChicago, IL 60611312-944-4184Jeff@SucceedingInBusiness.com
  3. 3. _________________________________________________ Overcoming the Fear of Cold Calling 3This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Copyright ......................................................................................... 2Table of Contents ............................................................................. 3Jeffrey Mayer’s Tele-Mentoring Program.......................................... 7eBooks by Jeffrey J. Mayer ............................................................... 8Books by Jeffrey J. Mayer ................................................................. 8Your Comments About This Training Manual................................... 8Overcoming The Fear Of Cold Calling ............................................. 9Getting The Most Out Of This Training Manual.............................. 12Review The Training Manual From Beginning To End .............. 13A Short Quiz .................................................................................. 14I’ve Been Selling For 30 Years ....................................................... 15Learn To Love The Phone............................................................... 18The One-Percent Rule .................................................................... 18You Must Be Prospecting Every Day......................................... 20Your Goal Is To Search For ProspectsWho Are In The Market TODAY........................................... 21Expect Rejection, But Don’t Take It Personally......................... 22Search For People You Like ...................................................... 23The Rule Of A Hundred ................................................................. 23Your First Pass Through The Stack ........................................... 24Your Second Pass Through The Stack ....................................... 25Making The Rule Of A Hundred Work For You ........................ 27Deciding When To Discard A Name .......................................... 28Your Goal Is To Find Large Numbers Of Prospects ........................ 30Table of Contents
  4. 4. _________________________________________________ Overcoming the Fear of Cold Calling 4This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Processing Your Leads ................................................................... 33Put Each Lead On A Separate Piece Of Paper............................ 33Record Detailed Notes Of Every Telephone Call ....................... 34Use Cryptic Marks To Save Yourself Time ................................ 38Finding People You’ve Left Messages For ................................ 38Don’t Leave Voice Mail Messages............................................. 39Working Your Lists Of Names .................................................. 40Don’t Write Names And Addresses By Hand......................... 40Don’t Work Your List From Your Database.......................... 40Don’t Research Your Prospects Prior To Calling Them ........ 41Getting The Most From Your Business Cards....................... 41Getting The Most From Bingo Or Reader Response Cards........ 42Working The System.................................................................. 43Keeping Track Of Your Telephone Activity ............................... 44Schedule Time To Make Your Calls ................................................ 45Schedule An Appointment With Yourself .................................. 46Adding Prospects To Your Database ............................................... 47Putting Your Prospects Into Your Database............................... 49Finding People In Your Database .............................................. 50Write Notes of Meetings And Conversations ............................. 50Schedule Follow-Up Calls and Things To Do............................ 51No Naked Records: Keep In Touch With YourCustomers, Clients And Prospects ........................................ 51You Need A Great Elevator Speech ................................................ 52Passing The SO WHAT! Test ..................................................... 54Keeping The Conversation Going.............................................. 55Examples Of Good Elevator Speeches ...................................... 55
  5. 5. _________________________________________________ Overcoming the Fear of Cold Calling 5This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Create Your Elevator Speech..................................................... 56Do You Have A Moment................................................................ 57Blowing Through Leads ............................................................ 58Five Words That Changed My Life ............................................ 58A Simple Yes Or No Question................................................... 59Making Your Telephone Call .......................................................... 60Step 1: Do You Have A Moment? ............................................. 61Step 2: Deliver Your Elevator Speech ....................................... 61Step 3: I Was Calling to See If I Could Take a Moment.............. 61Step 4: Use A Turnaround Question .......................................... 62Using Turnaround Questions .......................................................... 63Start With Soft Questions.......................................................... 64Then Ask More Pointed Questions ............................................ 65Examples Of Client’s Questions................................................ 66Robert Helps Companies Get Income Tax Refunds ............... 66Steve Sells Commercial Real Estate...................................... 66Chris Lends Money ............................................................... 67Mark Helps People With Their Financial Planning................ 67Gregg Sells Stainless Steel .................................................... 68Turnaround Questions Stimulate Conversation ......................... 68Create Your Own List of Turnaround Questions ....................... 68How Do You Come Across on the Phone? ..................................... 69Your Feelings And Emotions Come Across Loud And Clear..... 69Keep A Smile On Your Face ..................................................... 70Be Enthusiastic ......................................................................... 71Hear How Others Hear You ...................................................... 71Make Your Voice Sound Interesting .......................................... 72
  6. 6. _________________________________________________ Overcoming the Fear of Cold Calling 6This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Add Depth And Power To Your Voice ....................................... 73Improve Your Productivity By Using A Telephone Headset....... 75Get On The Phone .......................................................................... 75Getting Through To Your Party ................................................. 76Take Notes Of The Conversation............................................... 77How To Call A Stranger ................................................................. 77Your Call Goes Through ........................................................... 78You Get Voice Mail................................................................... 79You Get The Secretary............................................................... 79Make The Secretary Your Friend........................................... 80Dealing With Voice Mail ................................................................ 81The Telephone Is Your Friend ......................................................... 84Your Comments About This Training Manual................................. 85Jeffrey Mayer’s Tele-Mentoring Program........................................ 85
  7. 7. _________________________________________________ Overcoming the Fear of Cold Calling 7This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Jeffrey Mayer’s Tele-Mentoring ProgramDo you want to improve your prospecting and networking skills?Coldcalling?Telephonetechniques?Timemanagementskills?Do you want help with your strategic business planning?Do you want to learn how to ask better questions? Reachdecision makers? Overcome objections?One-on-one Tele-Coaching is now available for business own-ers, corporate executives, sales managers and salespeople.Jeffrey Mayer, president of http://www.SucceedingInBusiness.com, coachesbusiness people on how to grow their business, close more sales, and make moremoney.Call 312-944-4184 for more information. Or send e-mail - with a phone num-ber - to mentoring@SucceedingInBusiness.com.“JeffreyMayerreallyunderstandstheessentialsofrunningasuccessfulandprofitablebusiness.Heknowshowtofocusinonthekeybusinessissuestogeneratemaximumprofitability.”NormanR.Bobins,Chairman,President&CEO, LaSalleBank,N.A.ChicagoIL“JeffreyMayerhasbecomemy"AgentofChange."Hisconceptsareintense,thoughtprovoking,deepandfarreaching.OverthepastyearIhadtriedabunchofthings.Nothingworked.OutofdesperationIcalledJeff.Inthefirstmonthweworkedtogether,Itripledmybusiness.Ifyouwanttogrowyourbusiness,giveJeffacall!”MarkPallar,President,PallerFinancialServices“Mysaleshavedoubled,myprofitshavetripled,andImworkingfewerhours,sinceIstartedworkingwithJeffreyMayer.”Gregg Russell, Owner, Hopps Colonial Pharmacy, Homer MI“My monthly sales doubled from $20,000 to $40,000 after working with Jeffrey Mayerfor only three weeks. His up-selling techniques helped me increase the average size ofmy sales from $2200 to $3200. This was a great return on my investment.”Dave Boekholder, Sales Manager, Digital Canal“JeffreyMayer,is"TheAnswerMan."Heissototallyamazing.Afterourconversations,I always wonder how can we bottle or clone this mans brain. I sell to the manufacturingindustry which is so cyclical it makes me wonder why I do it, but Jeffrey, always givesmecreative,insightfuladvicethatactuallyturnsmydoldrumsintoprofitseverytime!Inthe worst times ever, this is the man to call!”Judy Griggs, President, Preferred Machine Tools
  8. 8. _________________________________________________ Overcoming the Fear of Cold Calling 8This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.eBooks by Jeffrey J. MayerOpening Doors with a Brilliant Elevator SpeechWinning The Fight Between You and Your DeskTaking Control of Your DayCreating Opportunities by NetworkingSuccessful People Have A DreamSetting and Achieving Your GoalsSucceeding In BusinessCustomizinq Your ACT! DatabaseGrowing Your Business With ACT!http://www.succeedinginbusiness.com/catalogBooks by Jeffrey J. MayerSuccess is a JourneyIf You Haven’t Got the Time to Do It Right,When Will You Find the Time to Do It Over?ACT! 2000 For Windows For DummiesTime Management For DummiesWinning the Fight Between You and Your DeskFind the Job You’ve Always Wantedin Half the Time with Half the EffortYour CommentsAbout This Training ManualWhat are the BEST useable ideas you gained from this Training Manual?How do you plan to apply these ideas?How will these ideas help you close more sales and grow your business?Please send your thoughts/comments toComments@SucceedingInBusiness.com.
  9. 9. _________________________________________________ Overcoming the Fear of Cold Calling 9This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Overcoming The Fear Of Cold CallingFred was very successful in business as a computer consultant.But the one thing that really bothered him was the fact that hewas unable to schedule appointments with people over the tele-phone. He was always great in face-to-face meetings. His closingratios were very good. But getting that face to face interview wasvery challenging.When Fred had to call on someone he didn’t know — with thegoal of talking with them over the telephone — he was a nervouswreck. He would do almost anything he could to avoid pickingup the phone. From doing miscellaneous paperwork, to writingletters and reading e-mail.And when he finally got up the courage to pick up the phone,and actually found someone who would take his call, the conver-sation went something like this:“My name is Fred Smith, and my company helps busi-nesses with their computer networking needs. I waswondering if you had any computer problems.The person he was speaking to would usually respond by sayingsomethinglike:“Thanks for calling Fred, but we’re all taken care of.”And the conversation would end in five to ten seconds.The more Fred got on the phone, the more flustered he became,and his results got worse. He went through hundreds and hun-dreds of leads. He didn’t get many appointments. His businesswas down. He wasn’t making much money. He was squanderingbusiness opportunities.One day — out of desperation — he called me, asking for help.As we talked, he told me of his tale of woe. I asked him why hefelt so comfortable when he was face-to-face with a person —getting good results — but had such a terrible time when he had
  10. 10. _________________________________________________ Overcoming the Fear of Cold Calling 10This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.to pick up the phone and make a “cold call.”Fred explained that when he walked into a prospect’s office, hewould sit down in a chair, make himself comfortable, and lookaround the room. He then began asking the customer questionsabout:The knickknacks he saw on the desk,The pictures of the sailboats on the credenza,The golf clubs or tennis racket in the corner,The mementos from numerous vacations on the bookshelves,As well as the pictures of the person’s family, and thesunsets in the Caribbean or Hawaii on the wall.This made Fred comfortable, because he needed the PROPSthat he saw in the office to generate conversation. Once Fredbroke the ice, he was then able to start talking business.But when he called someone on the phone there weren’t anyprops for Fred to talk about. He couldn’t see the person’s desk,he couldn’t see the pictures, the mementos, the trophies. Theonly thing Fred saw was his office. He didn’t know what to say.He was stumped.Fred had five basic problems:1. He didn’t know — or understand the methodology of —how to use the telephone to get appointments, createopportunities, close sales, and make money.2. He didn’t know what to say to a person when he got heron the phone.3. He didn’t know how to keep the conversation going byasking brilliant questions.4. He didn’t understand the importance of having a large
  11. 11. _________________________________________________ Overcoming the Fear of Cold Calling 11This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.universe of people to call on.5. He didn’t have a proven system for finding new pros-pects.In just a couple of weeks I taught Fred how to love to use thephone for cold calling. He learned the art of asking great ques-tions on the phone, and he learned the importance of having alarge prospect base.Today Fred loves using the telephone. He sets aside about anhour a day, and starts calling. His goal is to dial the phone atleast 30 times each day. He’s reaching people, finding opportuni-ties, closing sales, and making money.This training manual is going to do the same for you. By the timeyou’ve finished reading this training manual you’re going to loveusing the telephone. You’ll reach more people, find more oppor-tunities, close more sales, and make more money.Here are six questions I want you to answer. It’s OK for you towrite down your answers inside the training manual. (If youhaven’t printed this training manual out, I suggest you do sonow.)How much time do you spend each day on the telephonelooking for new business?How many times do you dial the phone each day?How many new people are you calling on? People thatyou’ve never spoken to before.
  12. 12. _________________________________________________ Overcoming the Fear of Cold Calling 12This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.How many people are you calling that you’ve spoken tobefore — either on the phone or met in person — whodidn’t buy from you?How many telephone calls do you have that end in lessthan five seconds? Ten Seconds? Thirty seconds? Sixtyseconds?How many leads are you going through during the courseof the day, a week, or a month?Spend more time on the phone, improve your techniques, stopwasting your leads. You’ll close more sales and make moremoney.Getting The Most Out Of This TrainingManualThis training manual is filled with powerful information that willhelp you become much more successful. But it’s going to takeyou a bit of time to make these money-making ideas, concepts,techniques, and strategies your own.It’s going to take some work on your part as you unlearn oldhabits, and learn some new ones. Have faith. These telephonetechniques have worked for me for more than 20 years and haveworked for my consulting clients, who have paid thousands of
  13. 13. _________________________________________________ Overcoming the Fear of Cold Calling 13This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.dollars to learn them. Put them to use, and they’ll work for youtoo. Guaranteed!I know you can read this on your computer, but it’s my recom-mendation that you print it out so you can highlight importantinformation, and write notes to yourself in the margin.Every once in a while I’m going to ask you some questions, andI want you to take a few moments to think about and answerthem. You can write your answers in the space provided, or onthe back of one of the pages of this training manual.Review The Training Manual From Beginning To EndBefore you dive into this training manual, take a few minutes toreview it from front to back, so you can get an overview of allthe material that’s being covered.Study the table of contents, look at the headings and sub-head-ings. Look at the sections that interest you the most. If you like,read them first.If you become engrossed in specific parts of the training manual,it’s okay to read them. Then go back and start reading the train-ing manual from the beginning.As you are reading the training manual, begin to put the informa-tion to work... IMMEDIATELY. Pick one or two ideas and startusing them. Then pick a third or fourth idea and begin applyingthem.After you’ve completed reading this training manual the firsttime, I would also suggest that you reread it a second time, andeven a third time. You’ll be amazed at how much new informa-tion you’ll pick up with each additional reading.Within weeks — or maybe a few days — you’ll see dramaticchanges in your results as you begin to put these powerful ideas,techniques, strategies and concepts into action. In no time at all
  14. 14. _________________________________________________ Overcoming the Fear of Cold Calling 14This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.you’ll be reaching more decision makers, creating more opportu-nities, closing more sales and making more money.A Short QuizI’ve a short quiz for you. Here are eleven reasons why mostpeople hate cold calling. Put a check mark by the ones that applyto you:It’s always hard to get started. I just don’t want to pick upthe telephone.I don’t know what to say.I don’t have people to call.I’ve already called the people on my list a dozen times andit’s depressing to look at their names again.I don’t know how to explain the benefits of the productsor services I have to offer.I’ve never been trained in how to use the telephone toreach decision makers, schedule appointments, and closesales.I don’t know what to say because I don’t have a salespitch, don’t have a script, or don’t have a great ElevatorSpeech.I’m afraid of getting rejected, and my fear of failurecauses paralysis.I’m not comfortable picking up the phone because I feelI’ll be interrupting the prospect.I can’t reach people because I always get voice mail.I don’t like calling people because I feel that telephonesalespeople are slimy, and I don’t want to be like all the
  15. 15. _________________________________________________ Overcoming the Fear of Cold Calling 15This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.other tele-marketers. You know, the ones who are callingjust as you’re about to sit down to dinner.If you like, you can add more items to the list, but I think I’vecovered most of the major reasons why people don’t want topick up the phone and call prospective customers.I’ve Been Selling For 30 YearsI’ve been in sales for 30 years now. I started in the property andcasualty insurance business in the early 1970’s and inherited myfather’s insurance agency when he passed away. After severalyears, I sold his agency and joined the Northwestern Mutual Lifeas a Special Agent.At the Northwestern Mutual, we were taught that the most effec-tive way to sell was to send letters of introduction to new pros-pects and referrals, and then follow-up with a phone call severaldays later. I did this for about six months, and then it dawned onme that nobody — myself included — ever got around to mak-ing the calls.We searched for every excuse we could come up with to avoidpicking up the telephone. As a result, many good opportunitieswere never captured. Sales weren’t made. And there was nomoney in the bank.One day I came up with a novel idea:Don’t send the letter— which took time and cost money —just pick up the phone and make the call.Much to my surprise, I started reaching people and schedulingappointments. While everybody else was sending letters, I wasactually meeting with prospects and closing sales.
  16. 16. _________________________________________________ Overcoming the Fear of Cold Calling 16This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.I remember one instance where I phoned Joan Brown, and hadgot an appointment. She had recently gotten a promotion and hername, and photo, had appeared in the newspaper. When Iwalked in, the first thing she did was hand me a letter she hadreceived from Mike, a colleague of mine whose office was downthe hall. While my good friend was sending letters, I was gettingappointments — and closing sales.In the early 1980’s I came to the realization that selling life insur-ance wasn’t to be my calling in life. In 1983 I started my consult-ing, coaching and mentoring practice where I helped peoplemanage their time, set their priorities and get focused, so theycould grow their business, close more sales and make moremoney. (How’s that for an Elevator Speech?)It was then that I really learned how to use the phone. One day— as I was making a sales call — it dawned on me, if I didn’tclose the sale, I had wasted my time. I had wasted the otherperson’s time. And I didn’t make any money. There had to be abetter way.I further realized that my goal wasn’t to just get an appointment,but it was to get an appointment with a person who was inter-ested in buying something from me.Have you ever had a meeting with someone, and youlooked at them. And they looked at you, and you bothknew that this wasn’t going to work? Like a bad blinddate?Well, it’s happened to me a number of times, and after alot of analysis, I finally understood why. When I calledand asked for the appointment, the other person saidYES.But what I failed to do was ask enough questions toqualify the person as a viable prospect prior to going outto meet with them.
  17. 17. _________________________________________________ Overcoming the Fear of Cold Calling 17This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.I know that all the sales training books say you should meet asmany people as you can. Your sales manager and/or your bosswant you to have FACE TIME with your prospects.But what’s your goal? To meet as many people as you can, or tomeet with people who have an interest in purchasing your prod-uct or service? And how much time is being wasted. Travel time?Waiting time? Unproductive meeting time?Wasted time. Wasted effort. Wasted energy. And no money!By using the telephone more effectively you can improve yourresults... geometrically.During a phone call with a prospect I asked him what hisclosing ratios were. He said about 1 in 6. About 15 per-cent.I pointed out that with a 15 percent closing ratio, 85 per-cent of his selling time was wasted. If he were only towaste 75 percent of his time he would double his income.He hired me on the spot.How do you better qualify people over the phone? You askbetter questions. (More on that later.)But before you rush out to meet with people, here are eightquestions you need to get answered:Do they have a need for your product or service?Why would they need it?What is the problem you will be solving?Do they want to solve the problem? Is it their problem tosolve?What will be the value to them if the problem is solved?Or what will be the cost to them if they do nothing?What is their position within the company or organization?
  18. 18. _________________________________________________ Overcoming the Fear of Cold Calling 18This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Are they a decision maker? Do they have the authority tosign a check?How do they go about making decisions?Learn To Love The PhoneMost people hate using the telephone for cold calling. And theirresults become self-fulfilling prophecy. But I look at the tele-phone as a wonderful time-saving tool.When used properly, it enables you to separate buyers — peoplewho are going to do business with you — from tire kickers,those who are going to ask lots of questions, have you jumpthrough hoops, waste lots of your time, but never place an order.This does two very powerful things for you:1. You’ve more time to spend with the people who are goingto buy from you. This helps you to close the sale becauseyou’re more focused on the customer’s needs.2. You’ve more time to get on the phone to look for — andfind — more prospects (people or businesses) who are inthe market to buy from you... TODAY. You can do thisbecause you quickly identify the people who aren’t goingto buy from you, before you spend 30, 60, or 90 dayschasing them.Change your perspective. Learn to love the phone. The tele-phone is the most effective time management tool you have. Useit more effectively, and your income will soar.The One-Percent RuleEver since I started selling, more than 30 years, I’ve alwayswondered why sales people who were very successful early in
  19. 19. _________________________________________________ Overcoming the Fear of Cold Calling 19This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.their career never continued their meteoric rise into the strato-sphere. At some point their production always flattens and levelsout. And then, after a period of time, it actually begins to decline.After studying and analyzing this, I came to the conclusion thatmost people stop prospecting, i.e. looking for new customers.Here are four reasons:1. They get bogged down with paperwork, service work,and all other types of miscellaneous activities.2. They spend hours of time creating proposals and presen-tations for people who don’t buy. Then after thepresentation’s are made, the customer says “Let me thinkabout it.” and the sales rep spends the next 30, 60, or 90days diligently following up on a person who will neverplace an order.3. They stop doing the activities that made them so success-ful — like getting on the telephone and looking for newcustomers — in the first place. I’ve known many sales-people who couldn’t wait to hire an assistant so theywouldn’t have to get on the phone and call their “custom-ers.” But whose business is it anyway? The salesman’s orthe assistant’s?And who is better equipped to determine whether or not aperson is indeed a prospect? The salesman or the assis-tant?4. They get the “I’m so successful, I don’t have to prospectanymore” attitude. They feel that they don’t have to coldcall. They develop ATTITUDE. How many salespeoplehave you heard say, “I don’t cold call anymore?”My wife and I were looking for a new car.Actually, she was the one who wanted the new
  20. 20. _________________________________________________ Overcoming the Fear of Cold Calling 20This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.car. I was invited along just to pay for it.After test driving many different cars we (she)decided to purchase a Mercedes-Benz. Dur-ing one of our meetings with Bob, the sales-man, he said to me, “I’ve read a number ofyour ACT! and time management books,knew that you lived only three blocks away,and often thought about calling you.”“Why didn’t you?” I asked. Bob explained that he doesn’t doany cold calling. (With attitude.) How stupid I thought!You Must Be Prospecting Every DayTo be successful in sales — and in business — you must beprospecting every single day. I don’t mean calling on the samepeople over, and over again. I mean calling on people whomyou’ve never spoken with before. Yes, I know lots of peoplewho say they work only by referral, or get the majority of theirbusiness by referral. But I’ve yet to meet anybody who findsenough prospects to keep their business — or income — grow-ing by leaps and bounds.Furthermore, when the referral sources dry up, or the rate ofreferrals slows down, the salesperson has no new source ofleads. For most salespeople — and even business owners — it’sbeen so long since they’ve looked for new prospects thatthey’ve forgotten how to do it. As a result, their business — andincome — suffers terribly.On the other hand, when you aggressively look for new businessday-in and day-out you find it.To be successful in sales, you must have a large universe ofprospects. This guarantees that you will never run out of peopleto call.
  21. 21. _________________________________________________ Overcoming the Fear of Cold Calling 21This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.From this realization I created my One-Percent Rule:You Will Sell OneOut Of Every 100 Prospects.When you know you’re only going to sell one out of everyhundred prospects, you need to create a system that enables youto find a lot of people to call on. When you’re calling on newpeople every day, your success is almost guaranteed. With thisknowledge, you’re always prospecting. If you want to make twosales, you must have 200 prospects. To make three sales youneed 300 prospects.Now, I do want to say that I’ve found the odds to be a bit betterthan one out of a hundred. Sometimes it may be three, four, orfive percent.But when you realize that you’re only going to sell one out ofevery hundred prospects, then you need to create a methodol-ogy for processing lots of names quickly and efficiently. That’swhere the telephone comes in. By having great telephone tech-niques, you save yourself time because you’re better able toqualify your prospects. This enables you to spend more timewith buyers and much less time with non-buyers.Your Goal Is To Search For Prospects Who Are In TheMarketTODAYThe goal is not to meet as many people as you possibly can,because traveling to — and meeting with — people who werenot going to buy is a huge time waster.The goal is to use the telephone to identify and qualify peoplewho are in the market today, and then have additional meetingswith them — either by phone or in person — to determine theirlevel of interest. When you know that only one out of every
  22. 22. _________________________________________________ Overcoming the Fear of Cold Calling 22This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.hundred people is going to buy from you, the challenge is to findthe one person who will become a customer and eliminate therest. Then find another hundred prospects to call on.SalesGoal: Find a prospect a day. Imagine how successful youwould be if you were able to find a good prospect every day.Five prospects a week. Twenty prospects a month. Whenyou know that only one of every hundred prospects is goingto buy from you, your challenge is to go through that pros-pect list as quickly and efficiently as you can.Expect Rejection, But Don’t Take It PersonallyOne reason people hate cold calling is that they don’t like beingrejected. Don’t take the rejection personally.When someone says they aren’t interested, they aren’t rejectingyou. They’re just stating that they don’t need whatever it is yourselling.What’s the worst thing that can happen to you? They can yell atyou. They can hang up the phone. But ninety-nine times out of ahundred, the person will be polite. And if the person’s nasty orabusive, you can always hang up on them.Not everybody’s going to be happy that you called.Not everybody’s going to want to talk to you.Not everybody’s going to have a need for whatever it isyou sell.The beauty of using the telephone, is that you can find this outquickly, without investing a lot of time, effort and energy onsomeone who isn’t going to buy. When you know that only onein a hundred are going to buy, this prospect is just one of the 99who aren’t.Remember: Only one of every hundred prospects is going tobuy from you. So this person is one of the 99 who aren’t. So
  23. 23. _________________________________________________ Overcoming the Fear of Cold Calling 23This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.don’t let a bad call get you down. Be thick-skinned. Expectrejection.Search For People You LikeOne of the great benefits of using the One Percent Rule is that itenables you to be selective. It enables you to search for peoplethat you like.You goal is to fill up your database with people who like you,and people that you like, so all of you can have some fun and bemore successful.And because you’re always looking for new prospects, no singleopportunity becomes that important to you. If this one doesn’tclose, you know that you’ll be able to find another.And don’t succumb to Big-Case-Itis. Life is much easier whenyou’re doing business with lots of smaller customers, than ahandful of very large — and demanding — customers.SuccessTip: Spend your whole life looking for people that youlike, and like you. You’ll have a wonderful career.The Rule Of A HundredMy Rule Of A Hundred goes hand-in-hand with my One PercentRule. The Rule Of A Hundred explains what happens when youprocess 100 leads.Let’s assume that you had a list of 100 prospects. Now this listof 100 names isn’t printed on a few pieces of paper — like aspreadsheet, or in columns. Instead, you have 100 pieces ofpaper and on each piece is the person’s name, address, phonenumber(s), and other information.In the old days, 30 years ago, I used to hand-write nameson 3x5 index cards. Then I would put the stack of cards
  24. 24. _________________________________________________ Overcoming the Fear of Cold Calling 24This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.on the top of the desk and start calling the prospects oneat a time as I worked my way through the stack. We calledit “dialing for dollars.”Let’s further assume that you had a stack of names all of whomwere prospects that you had never called on — or attempted toreach — before.As you sit down at your desk you start with the name at the topof the stack, and begin calling one person after another, as youwork your way from top to bottom.Your First Pass Through The StackOn your first pass through the stack, you will reach about 30percent of the people, meaning you will actually speak to 30 ofthose 100 people. As you talk with them you’re going to find thatthese people fall into one of four categories;1. Good Prospects. One, two, three or maybe even four ofthem are really interested in the products or services youhave to offer. (Your ability to find real prospects does infact depend upon the quality of you’re telephone skills.But that’s why you’re reading this training manual.)2. Potential Prospects. You’re also going to speak to ahandful of people — maybe one, two, or three — whowill ask you to call back in one week, two weeks, or amonth and they’ll actually be interested in buying some-thing.3. Time Wasters. This group of people will ask you to callback at a later time, or maybe ask you to send something,and when you do, they will in fact show no interest intalking to you. These become huge time wasters.4. No Interest. The balance of the people will say that theyhave no interest at all. It’s my recommendation that youthrow their names away. Your goal is to find people who
  25. 25. _________________________________________________ Overcoming the Fear of Cold Calling 25This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.are in the market — or have a need — for the product orservice you sell at the very moment you call them. Whensomeone tells you they aren’t interested, let them go andcontinue your search for a better prospect.Your Second Pass Through The StackYou’ve gone through your stack of prospects once and havespoken with 30 people. There are 70 people who you have notyet reached. As you work your way through the list a secondtime you should expect to speak with about 20 more people, (30percent of the those remaining).Of those 20, once again you are going to find one, two or maybethree people who are real prospects. The rest have no interest.To summarize where we are so far, you started with a list of 100people. You’ve spoken with 50 of them and have found four,five, or maybe six people — prospects — who are sincerelyinterested in doing business with you. As you work your waythrough your sales process one, two or maybe three of them willmake a purchase and become a customer.Trying To Reach The Remaining 50 PercentYou now have 50 people left from the original stack, you’ve triedto reach them twice and have been unsuccessful. What do youthink your probability of getting through to them on the third,fourth, fifth, or the sixth time will be? Do you think you’re oddsget better? Or do they get worse?You are now facing what economists call the Law of DiminishingReturns. The more time you spend trying to reach these people,the poorer your results. You are attempting to reach people whoare not reachable. And if a person is not reachable, even thoughthey may appear to be a great prospect on paper, they aren’t aprospect.This is why so many sales people complain about their inability
  26. 26. _________________________________________________ Overcoming the Fear of Cold Calling 26This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.to reach a prospect. They have already spoken to the peoplewho are available, and are now calling the group of people whoare alwaysIn a meeting,On the phone, orAway from the office.And though they leave voice mail messages, the messages arenever returned.They are spending all their time trying to reach people who areNOT available. People whoDon’t return phone calls,Don’t respond to voice mail, andDon’t respond to e-mail messages.Is it any wonder why they aren’t creating new opportunities,closing sales, and making money?It has been my experience that these are the group of people thatare largely unreachable. And should you be fortunate enough toget one of them on the phone, the person usually says somethinglike:“I can’t talk to you now. Please call me tomorrow.”When you call tomorrow you are told by the person’sassistant that they’ve gone on vacation for two weeks.And you think that they didn’t remember they were leavingtown when they spoke with you the day before? Theywere just blowing you off. or“I can’t talk to you now. Just send me something.”You being the good soldier that you are, put together apresentation and mail it out because you think you’ve areal prospect. Then you start the follow-up process within
  27. 27. _________________________________________________ Overcoming the Fear of Cold Calling 27This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.the next few days.The problem with this scenario is that once you put thisperson into your follow-up system you continue to followup with them on a regular basis. You call and they don’tanswer their phone. You leave voice mail messages and/ormessages with the person’s assistant that are not re-sponded to. You send letters, faxes and/or e-mail mes-sages that are ignored.All in all, you end up wasting a whole lot of time, effort, energyand money. It gets depressing. And because you think you’ve aprospect, it keeps you from calling someone else. Worst of all,you don’t have any money in your pocket.MakingTheRuleOfAHundredWorkForYouThis is how you make the Rule Of A Hundred work for you. Youstart with your list of 100 prospects. You work the list, and onthe first two passes will speak to about 50 percent of them, i.e.50 people.Of the people you speak to, you are going to find five or sixpeople who will have an interest in your products or services.You will probably sell one, two or three of them.The likelihood that you’re going to have much success creatingopportunities from the remaining 50 people, the ones youhaven’t been able to reach yet, isn’t very good. (If you don’tbelieve me, keep your own records and test it out. I describehow to process lists of prospects in the section on ProcessingYour Leads.As you work your prospect list — calling for the forth, fifth,sixth or twelfth time — you will find that it gets harder andharder to reach the remaining people. They just aren’t available.And should you be successful in reaching one of these people,the likelihood that you’ll actually create an opportunity and close
  28. 28. _________________________________________________ Overcoming the Fear of Cold Calling 28This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.a sale is rather remote.It is my recommendation that you set a limit as to the number oftimes you try to contact a prospect. When you reach that limit,it’s time to throw the name away, and find a better prospect.For myself I usually try and reach somebody three, four, or fivetimes over the course of a three to four week period. AfterwardsI throw the name away and move on.Deciding When To Discard A NameYou need to set your own limits as to the number of times youwant to attempt to reach somebody before you decide to dis-card the name and move on. Maybe my limit of four or fivetimes is too low for you.Perhaps you should try six, seven or eight. Or maybe ten, fifteen,or twenty. But at some point you must come to the realizationthat you’ve invested enough time, effort and energy on thisperson. You haven’t gotten through. You haven’t created anopportunity. It’s time to move on.This is probably why you’re having so much trouble getting yourcalls returned. You continue to call on — and leave messages for— people who aren’t available, or have no interest in talking withyou.Back in the days when I was selling life insurance for theNorthwestern Mutual, we were trained to write eachprospect’s name, address and phone number on 3x5"index cards.When I called somebody I wrote the date and a briefsummary of my attempt to reach them on the card. WhenI ran out of space on the front of the card I wrote on theback.When I ran out of space on the back, I continued on a
  29. 29. _________________________________________________ Overcoming the Fear of Cold Calling 29This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.second card which I stapled to the first one. At 9:00 a.m. Iwould get on the phone and start calling my 30 prospects,just like I was supposed to do. But I was calling the same30 — unreachable — people every day.Within fifteen to thirty minutes I had called everybody,leaving messages — that weren’t returned — with most ofthem. It was now 9:30 a.m. and I didn’t know what to donext. It never dawned on me that at some point I shouldthrow the name away and find a better prospect.I know you’ve been taught that to be successful in sales you’vegot to be persistent. Calling prospects over and over again untilyou reach them.Some people are more than persistent, they’re just plain stub-born. Their attitude is: “I’m going to call on them till they buyor they die.”But life is too short.STOP trying to reach people that aren’t reachable!STOP trying to sell people that don’t want to buyfrom you!STOP trying to force a square peg into a round hole!Look for someone who is available to talk with you on thephone. Look for someone who is interested in hearing what it isyou have to say. Look for the person who is in the market to dobusiness with you... TODAY.Yes, I know of people who have gotten major accounts becausethey called on them for years. In fact, I was doing a speech inNew York for a title insurance company, and one of the membersof the audience said with a great deal of pride, “It took me ten
  30. 30. _________________________________________________ Overcoming the Fear of Cold Calling 30This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.years to get my biggest customer.”Okay, this guy was successful in getting a customer after chasinghim for ten years, but how much time, effort and energy wasexpended? How many other sales could he have made withpeople who would have been happy to work with him?Also, when it takes a salesperson that long to get a customer, it’stelling me something else:He didn’t go in there with the idea of solving theprospect’s problems.He didn’t find out what the prospect wanted or needed.He didn’t offer viable solutions.He was just waiting for the current supplier to screw up big-time,leave the business, or die. Then he was hoping he would be ableto come in as the replacement supplier.Your Goal Is To Find Large Numbers OfProspectsTo be successful in sales, you need to have lots of prospects. Ifyou don’t you’re forced to call on the same people over andover again, and it doesn’t take long to wear out your welcome.One day I had a conversation with a woman who soldcommercial printing. Her sales manager had given her a listof 50 commercial accounts to call on and told her thatthese were the only companies that were viable prospectsfor her company.As we talked, I asked her what she would do after she hadspoken with all 50 companies. (Assuming a few wouldbuy, most would have no interest, and the remainderwouldn’t be reachable.) She said she didn’t know.
  31. 31. _________________________________________________ Overcoming the Fear of Cold Calling 31This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.When you’ve a small number of prospects, every one ofthem becomes very important to your overall success.You become a prisoner to them.Use your imagination to find prospects. Remember, if only oneout of every hundred leads are going to do business with you,your challenge is to process that list of 100 people as quickly aspossible, find those who will buy from you, then find another listof 100 people to call.Here are ten sources for business leads:1. Go Through Your Customer List. Most business- andsalespeople do a terrible job of staying in touch with theircustomers. Go through your customer list and see howmany people you haven’t spoken with in the past six totwelve months. Give them a call.2. Work Your Database. Go through your database andlook for the prospects you haven’t called in months. Givethem a call and find out what they need.If you don’t have a good database program issued getyourself a copy of ACT!.3. Buy Lists of Names. Go to your favorite search engine,and type in Business Leads or Mailing Lists. Here aresome places you can start with www.infousa.com,www.zapdata.com, www.goleads.com, orwww.hoovers.com .4. Buy a Directory. Buy lists from a manufacturer’s direc-tory. (Go to Google enter Manufacturer Directories, andyou’ll have a huge list to choose from.) Let me add this:You want the list as a computer file, not a printed list or abig-thick book. That way you can print out the list andhave one prospect on a single page. (More on this in amoment.)
  32. 32. _________________________________________________ Overcoming the Fear of Cold Calling 32This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.5. Join Business and Trade Organizations. Join localbusiness organizations such as the Chamber of Com-merce. Get involved in your industry trade groups andassociations.6. The Book of Lists. The American City Business Journalpublishes a Book of Lists, giving you essential informationon the leading buyers, businesses and employers in over60 of the U.S.’s most dynamic markets. Here’s the link:http://www.bizjournals.com/sales_prospecting7. Your Local Newspaper. Look through your local news-paper, for the names of people and/or companies that aredoing things. Give these people a call.8. Your Trade Journals. Look through your trade journals,and/or industry publications for the names of people and/or companies that are doing things. Give these people acall.9. Network. Become a better networker. If you want somehelp improving your networking skills, get yourself a copyof my eBook Creating Opportunities by Networking.Here’s the link to order a copy.http://www.SucceedingInBusiness.com/catalog10. Capture Leads From Your Web Site. Another greatsource of leads is the Internet and your Web site. I havedesigned my SucceedingInBusiness.com Web site tocapture as many leads as I can using fill-in-the-blank Webforms.When someone clicks the Submit button, I immediatelyreceive an e-mail message with the details of the informa-tion that was filled out on the Web form. I then print outthe e-mail message, and have a prospect sheet with theperson’s name, address, and phone number for me to call.
  33. 33. _________________________________________________ Overcoming the Fear of Cold Calling 33This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.I read an article one day of a company that has taken Webforms to an even higher level. When a prospect completesthe form and clicks the Submit button a message is imme-diately sent to the sales rep’s cell phone where he calls theprospect — and tries to answer questions, or close thesale — while the prospect is still looking at the Web page.SalesTip: These two Web form questions changed my life:WHAT DO YOU NEED? and HOW CAN I HELP YOU?Put them on your Web site and your prospects will tell youexactly what they’re looking for.Processing Your LeadsTo be effective when cold calling on the telephone you need tohave an easy-to-use methodology for processing your leads.Going back to my One Percent Rule, when you know that onlyone out of every hundred prospects are going to buy, sales andprospecting becomes a huge numbers game. Your goal is toprocess your names quickly and efficiently.This is what you do:1. Work your way through the list of prospects.2. Find those who are interested in buying,3. Discard those who aren’t interested.4. Come up with another list of names.In the previous section, I discussed different ways that youcould find leads. Now we’ll cover how to contact them.Put Each Lead On A Separate Piece Of PaperI’ve found the most effective way to process lists of names is tohave one name per piece of paper. This could include theperson’s
  34. 34. _________________________________________________ Overcoming the Fear of Cold Calling 34This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Name,Mailing address,Phone number,E-mail address,SIC code information,and any other information that may have been included in yourpurchased list.By having each prospect’s name on a separate piece of paper —as opposed to working from a list with 15 to 20 names on it, orfrom a database — you can efficiently work with each prospectindividually. This flexibility enables you to shuffle the pieces ofpaper, like a deck of cards so to speak, as you work your waythrough the list of names.This is how it works:When you call someone, and they aren’t in, put the pieceof paper at the bottom of the stack. (I discuss how tokeep notes in a moment.)When you call someone, who isn’t in, and you choose toleave a message, put the piece of paper at the bottom ofthe stack and hope they call you back. (I discuss leavingmessages in a moment.)When you speak with someone and they’re interested inhaving further conversations with you, add them to yourdatabase and schedule your meeting or follow-up activity.When you speak with someone and they’ve no interest inhaving further conversations with you, throw the nameaway.Record Detailed Notes Of Every Telephone CallYou want your leads on separate pieces of paper because it
  35. 35. _________________________________________________ Overcoming the Fear of Cold Calling 35This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.enables you to write notes to yourself about each person asyou’re trying to reach them. The more detailed your notes, thegreater your ability to separate buyers from non-buyers. Yournotes would include such information as:The date you called. Should you speak with an assistantor receptionist, and they tell you the person you’re tryingto reach is on the phone or in a meeting, you may want torecord the time you called. Then try to reach them inanother 15 to 30 minutes, or whenever you think it wouldbe appropriate.The names of people you may have spoken to, i.e secre-taries, receptionists or assistants.Any specific information you may have obtained from thesecretary, receptionist, or assistant. This could be any ofthese five things:1. If the boss is on the phone, you could ask if she’ll belong or short, i.e. should you hold for a moment, orcall back later.2. If the boss is out of the office, you could ask whenshe’ll be returning.3. If the boss is in a meeting, you could ask how long themeeting will run? Or when do you expect the meetingto be over? Or will she be tied up for the rest of themorning or all day?4. If the boss is out of town, you could ask when she isexpected to return?5. If you’ve tried to reach someone a number of times —and have been unsuccessful — you could ask whenwould be the best time to try reach her?
  36. 36. _________________________________________________ Overcoming the Fear of Cold Calling 36This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Important: Whenever you speak with a secretary, recep-tionist, or assistant, always ask if the person you’re try-ing to reach has a direct number or extension. Onceyou’ve got the person’s direct number or extension youno longer have to talk with the gate keeper or screener.Details of any messages you may have left with a secre-tary, receptionist, or assistant, or as voice mail.When leaving a voice mail message, pay attention to theprospect’s outgoing voice mail message. If she’s kindenough to leave her cell phone or pager number write itdown and give them a call.The more detailed your notes, the easier it will be for you todetermine the best time to try to reach your prospect.For myself, I use a red felt-tip pen and always jot my notes in theupper right-hand corner of the page.If you left the person a voice mail message, write a quicksummary of your message on the person’s prospectsheet.If you spoke with the person’s assistant and left a mes-sage, make a notation of what you said and with whomyou spoke..TelephoneTip: When you leave a voice mail message, alwaysleave your phone number twice. Once at the beginning ofyour message and again at the end.If you learned from an assistant or receptionist that the person’sgoing to be out of town for the next week, jot that informationdown and write a note to give them a call after they return. Thenput the piece of paper at the bottom of the stack and call the nextperson.
  37. 37. _________________________________________________ Overcoming the Fear of Cold Calling 37This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.On Wed Dec 5 09:57:33 2002,The following information was submitted:Host:206.19.24.279name = Stephanie Morsecompany = Delta Communicationsposition = Business Development Specialistaddress = 8761 N. First Streetcity = Orlando,state = Floridazip=32819submit_by = stephanie@DeltaComm.comphone = 407-798-3388 ext 198comments = I am not afraid to pick up the phone,but I have yet to come up with a script thatgrabs the person on the other line. I would liketo ask questions that will 1. qualify my prospect2. That will lead to an appointment.Would you please send me more informationabout business coaching.Kind regardsStephanieHere is an example of one of my prospect sheets.12/5 -Left voicemail message12/11 - Ret’d my call,but I wasn’t in. Calledand left another voicemail message12/16 - Ret’d my call. Wetalked and scheduled aphone call for 12/17.12/9 - Left a 2ndvoice mailmessage
  38. 38. _________________________________________________ Overcoming the Fear of Cold Calling 38This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Use Cryptic Marks To Save Yourself TimeTo save yourself time, and make it easier for you to record yourtelephone attempts, use cryptic marks or notations as shorthandfor your telephone activity.It’s important to keep track of how many times you tried toreach someone — and left messages — because you don’t wantto be calling the same people over and over.. After a certainnumber of tries you must move on and find a better prospect.Once again, to summarize the Rule Of A Hundred, if you’ve 100prospects, you’ll speak with about half of them on your first twoattempts. The remaining 50 prospects will be much more difficultto reach. When you’ve reached your limit for attempting to reachthese people, throw the name away and call on somebody new.Finding People You’ve Left Messages ForOnce you’ve left a message for someone, you need to have amethodology for finding the piece of paper with the person’sname on it, should they call you back. For myself, I keep col-ored highlighters on my desktop. This is how you use them toindicate that you’ve left a person a message:1. When you leave a message for someone, draw a stripedown the left-hand edge of the page with the marker. (Seesample prospect sheet on page 37.2. Write a note to yourself that you left a voice mail message.3. Put that piece of paper at the bottom of the stack.4. Call another prospect.Should the person call you back, look through the stack, startingfrom the bottom, and search for papers with colored lines. Whenyou find one with a colored line, look for the person’s name. Ifit’s not the person you’re looking for, keep searching through thestack.
  39. 39. _________________________________________________ Overcoming the Fear of Cold Calling 39This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.With this system you should be able to find the person you’researching for within just a few moments. This method hasworked very well for me for the better part of the past 15 to 20years.Until you’ve actually spoken with someone, and determined thatthey’ve an interest in having further conversations with you,don’t put the prospect into your database. Typing name andaddress information into your computer for people who aren’tgoing to be doing business with you is a huge time-waster.Don’t Leave Voice Mail MessagesIn the previous section I explained how to find people thatyou’ve left voice mail messages for. Here are my three reasonswhy I don’t recommend leaving voice mail messages:1. Most people never get around to returning phone calls.And as a salesperson it’s your job to reach them. It isn’ttheir job to reach you.2. If a person were to return your phone call, what’s thelikelihood that you’ll be available to take the call? Not verygreat, because you’re going to be on the phone, in ameeting, out of the office or doing paperwork. So theyleave a message and the two of you end up playing tele-phone tag.3. During the time it takes you to listen to the prospectsvoice mail message, and then leave your message, youcould have dialed two or three more people.Remember: Your goal is to call as many people as you can, asyou search for someone who is available — at this verymoment — to talk with you on the telephone.I discuss leaving voice mail messages later on in this trainingmanual.
  40. 40. _________________________________________________ Overcoming the Fear of Cold Calling 40This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.WorkingYourListsOfNamesIf you’ve purchased a lists of names, don’t work from a printedlist. Perform a mail merge from your word processor or spread-sheet and have the output go to one prospect per page, as if youwere printing an envelope or writing a letter.When you buy your list of names, you’ll probably get severalthousands leads, so only print them out in groups of one or twohundred at a time. You don’t want to be swamped with so manyleads that you feel overwhelmed.Don’t Write Names And Addresses By HandYour whole objective in cold calling is to process as many namesas possible in the shortest period of time as you try to findpeople who may have an interest in the products or services thatyou sell. Any time spent writing names and addresses on piecesof paper by hand is wasted time. This keeps you from getting onthe phone, looking for prospects, and making money.Almost all of my leads come from my Web site. Whensomeone fills out a form and clicks the submit button, ane-mail message is instantly generated and sent to me.The information on the completed form is also sent to adatabase on the Web site for downloading at a later time,so that I can add them to my newsletter mailing list. I thenprint out the form and I’ve my lead sheet. This was shownon page 37.Don’t Work Your List From Your DatabaseI know of many people who have purchased lists of thousandsof names and then imported them into their database only to findthat the whole process of calling them becomes unwieldy andunworkable. It also slows their database down to a crawl.It’s OK to import the list if you’re going to perform a mailmerge, so that you can have one prospect name on a single piece
  41. 41. _________________________________________________ Overcoming the Fear of Cold Calling 41This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.of paper. However, if this is what you are going to do, I wouldsuggest that you import the list into a new database, not youreveryday database, that way you won’t fill up your everydaydatabase with thousands of people you’ll never be working with.Don’t Research Your Prospects Prior To Calling ThemI know many sales trainers who recommend that you researchevery prospect prior to contacting them. This could includevisiting their Web site, requesting corporate brochures and cata-logs, and reviewing annual reports and 10K’s for public corpora-tions.From my perspective, I think this is a terrible waste of time.Remember: When cold calling, your goal is to attempt to reach— and speak to — as many viable prospects as you can.Once you’ve spoken with a prospect and have determined thatthey have an interest in your products or services — and willhave continuing conversations and discussions with you — youcan then begin researching their company as the two of you getto know each other better.Since only one in every hundred prospects are going to dobusiness with you, don’t waste your valuable and precious timelearning more about the 99 prospects who won’t be interested.This will free up hours of your time, so you can spend more timeon the phone looking for people who want to learn more abouthow you can be of help to them.Getting The Most From Your Business CardsAs a good networker, you should be meeting people every dayand collecting business cards. After you speak with someone,write notes to yourself on the front or back of the person’sbusiness card about who they are, what they do, and whether ornot you think they are a prospect.
  42. 42. _________________________________________________ Overcoming the Fear of Cold Calling 42This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.If they are someone you want to keep in touch with, add them toyour database ‘and schedule a follow-up to give them a call assoon as you get back to your office.The single greatest failure most networkers have is that theynever follow up with the people they meet. If you want to be-come a great networker visit by my www.SucceedingInBusiness.com Web site and pick up a copy of my CreatingOpportunities by Networking eBook. Here’s the link to orderyour copy: http://www.SucceedingInBusiness.com/catalogAs an alternative to taking the time to enter all of your newlycollected business cards into your computer, you can scotchtape each card to a blank piece of paper and then add them inyour stack of prospects to call. I like scotch tape better thanstaples because tape sticks better on the card and they lay flatter.Once you’ve spoken with a prospect and they’ve an interest inhaving additional business conversations with you, add them intoyour database.TimeSavingTip: If you collect a lot of business cards and wantan easy way to put them inside your computer, get yourself abusiness card scanner.Getting The Most From Bingo Or Reader ResponseCardsMany businesses get leads from Bingo or Reader Response Cardsthat they use as advertisements in business or industry trade jour-nals. When a prospect shows an interest in a company’s productor service, she fills out the card and mails it in.Once again, I think it’s a big time-waster to enter the prospect’sname and contact information into the company database beforeyou’ve had a chance to talk with the prospect to determine herlevel of interest.
  43. 43. _________________________________________________ Overcoming the Fear of Cold Calling 43This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.I would recommend that you handle the lead the same way youhandle a business card. Scotch tape the card to a piece of paperand place it at the top of your stack of people to call. Thenhandle it in the same manner you would any other business lead.WorkingTheSystemYour goal is to have such a large stack of leads that no oneperson, business, or opportunity becomes very important toyou. When you’ve a huge universe of prospects you’ve freedomand independence.You must, however, continue to add fresh leads to your stack. Itdoes you no good to have a list of 30, 50, 100, or 250 people,each of whom you’ve tried to reach a dozen times. For your listto stay alive you must constantly be pruning it. Adding newpeople and removing those that aren’t interested or aren’t reach-able.This is how you work the system:1. Add new people to your stack of leads every day. Thiscan come from referrals from clients or spheres of influ-ence, networking activities, your Web site, Bingo or Refer-ral Cards or other sources.2. Schedule time to get on the phone every day and searchfor people who are interested in your product or service.People who have a problem that you can solve.As you spend time on the phone — working your pros-pect list — your stack of leads will get smaller. With eachcall one of three things will happen:1. The person you are speaking to becomes a prospectwith whom you will have additional conversations. Youput the person into your database and schedule a
  44. 44. _________________________________________________ Overcoming the Fear of Cold Calling 44This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.meeting or an appropriate follow-up. Hopefully, it willturn into a sale.2. You speak to the person and they indicate that theyhave no interest. You throw the name away.3. After having tried to reach the person a certain numberof times you decide it’s time to move on. You throwthe lead away and stop calling them.KeepingTrackOfYourTelephoneActivityIf you want to keep track of your dialing activity, here’s a tech-nique you can use to see how effective you are on the telephone.At the beginning of each day take a blank piece of paper and dothefollowing:1. Place a dot on the paper each time you dial an outboundcall. For ease of record-keeping, place 10 dots on a line,and then continue on the following line.2. When you speak with someone, put a check mark throughone of the dots.3. When you find someone who is interested in having addi-tional conversations with you, place a hash mark throughthe check mark.4. When you schedule an appointment, place two hashmarks through the check mark.This is how it would look on your page.At the end of the day, record the total of how many times youdialed the phone, how many people you spoke to, how manyhad an interest in talking with you further, and how many people| ||
  45. 45. _________________________________________________ Overcoming the Fear of Cold Calling 45This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.you schedule appointments with. Then record your telephoneresults in a word processing document or spreadsheet.Over time, you’ll develop your own statistics for your telephoneefficiency for reaching prospects.If you like you can modify this system to your tastes, by usingdifferent colors or by using multiple hash marks. The only thingthat’s important is that you maintain accurate records.Your success in reaching people increases when you call onfresh leads — individuals you’ve never spoken to before. Callingon new people keeps you bright, fresh, alert and on your toes.Schedule Time To Make Your CallsSalespeople will find any — and every — excuse they can thinkof to avoid picking up the phone and cold calling. But if youwant to be successful, if you want to get ahead, if you want toearn more money, you’ve got to overcome your fear of coldcalling.The best way to do it is by picking up the phone. And the besttime to get on the phone is any time you’ve got some free time.When I started my career with the Northwestern MutualLife, I was told that you’re only in the business whenyou’re on the phone trying to schedule an appointmentwith a prospect, or you’re having a face-to-face meetingwith a prospect. When you’re doing any other activity ortask, you’re not in the life insurance business.Jack Welch, the former CEO of General Electric used tosay, “Everything we do is either aimed at getting a cus-tomer or keeping a customer.” Michael Dell, Chairman andCEO of Dell Computer, spends 40 percent of his timewith customers. Why? Because it’s his job!How much of your time is spent getting or keeping a customer?
  46. 46. _________________________________________________ Overcoming the Fear of Cold Calling 46This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Convert your wasted time into productive time and you caneasily double your business.Your sole purpose is to get on the phone and find people whoneed the products and services that you’re selling. When you’redoing anything else, you’re not in the business.Yes, I know that you’ve got to create proposals and presenta-tions, and do customer service work, but that should be a sec-ondary activity to getting on the phone.ScheduleAnAppointmentWithYourselfThe best way to guarantee that you get on the phone and lookfor customers is to schedule an appointment with yourself.Block out time on your calendar and keep the appointment. It’sthe most important meeting you’ll have.Get on the phone early in the day. Do it first, before all the fires,emergencies, crisis and disasters appear. Plan to have a success-ful — and profitable — day... every day.Set aside time for yourself every morning — Monday throughFriday — from 9:00 a.:m. to 11:00 a.m. Schedule the time onyour calendar.Don’t allow yourself to get interrupted.Don’t allow yourself to get distracted. And,Don’t schedule meetings or other appointments duringyour phone time.for if you don’t get on the phone and look for customers, therewon’t be anything else for you to be doing.And if you’ve no appointments in the afternoon, get on thephone. Your job is to create opportunities, not to waste yourvaluable time doing meaningless paperwork.I can remember many days when I was still on the phone —
  47. 47. _________________________________________________ Overcoming the Fear of Cold Calling 47This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.trying to schedule appointments — while everybody else in theoffice had gone home. Much to my delight and surprise, I oftenfound a prospect on what was supposed to be my final call ofthe day.Some days I got up at the crack of dawn and got on the phonebefore 7:00 a.m. because I knew my prospects got into theoffice early.One day in February 1989, I got on the phone andreached Fred Hills, a Sr. Editor at Simon & Schuster.Fred’s assistant wasn’t around and Fred — who wassitting at his desk eating lunch — answered the phonewhen it rang.I had only 45 seconds to make my pitch for the book Iwas writing, If You Haven’t Got The Time To Do It Right,When Will You Find The Time To Do It Over?. Fred gaveme permission to send him my proposal, and a few weekslater he offered me a literary contract — and a $10,000advance — that launched my literary career.So don’t look for excuses NOT to get on the phone. Look foropportunities to speak with people who could have a need forthe products or services you offer.Adding Prospects To Your DatabaseOnce you’ve spoken with a prospect and determined thatthey’ve an interest in having additional conversations or discus-sions with you about how your products and/or services can beof help, add them to your database.If you’re still using a paper-based follow-up system or a dailyplanner with a fancy leather-bound binder, I suggest that youstart putting your all of your names, addresses and phone num-
  48. 48. _________________________________________________ Overcoming the Fear of Cold Calling 48This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.bers into your computer using either a database, contact manageror a Personal Information Manager (PIM).I would like to take a quick moment to explain the differencebetween a contact manager and a PIM. The difference is how theinformation within the program is connected. Each of the pro-grams have separate modules for:Contact name and address information,Notes of meetings and conversations, andScheduled meetings, things to-do, and people to call.The primary difference between a Contact manager and a Per-sonal Information Manager is that in a Contact manager theseseparate modules are automatically linked together. In a PIM,you must manually link a note, meeting, or to-do with a contact.For example, ACT! is a true contact manager, it is designed tohelp you manage your relationships, and keep track of yourthings to do.Outlook and Palm-type devices are PIMs. They are designed tostore name and address information, keep your list of yourthings to-do, and your appointment calendar. They are greatproductivity improving tools, but because the separate modulesaren’t automatically linked together, they make managing relation-ships a bit more challenging.Now I must offer this disclaimer — and confession — I’m along-time ACT! user. I’ve written numerous ACT!.for Dummiesbooks and ACT! eBooks. So I’m not unbiased.The reason I use ACT!, and have recommended it over the yearsis because it makes the process of staying in touch with custom-ers and prospects easy.That said, you should know that ACT! can be used with both
  49. 49. _________________________________________________ Overcoming the Fear of Cold Calling 49This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Outlook and Palm-type devices so it’s easy to use these pro-grams together.On the following pages, I’m going to describe the way youshould keep track of your contacts and how to manage youropportunities. If the system you’re using is working for you, byall means continue using it.If leads and opportunities are slipping through the cracks, youshould definitely make a change.For convenience, I’m going to refer to contact managers andPIMs as a database.Putting Your Prospects Into Your DatabaseWhen you’re speaking with a prospect over the phone, and theyindicate that they’ve an interest in having further discussions withyou about your products, immediately add them to your data-base.When you enter a person’s contact information, you shouldrecord theirName,Company,Position/Title,Direct Phone, cell phone and fax number,Mailing address,E-mail address, andWeb site.You can also customize your database so you can store addi-tional information, as desired or needed.When you’re speaking with a prospect, you can saysomething like: “Let me make sure that I have the correct
  50. 50. _________________________________________________ Overcoming the Fear of Cold Calling 50This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.spelling of your name. Your first name is [ ], and I’veyour last name spelled [ ], and do you use a middlename or initial? And what is the full name of your com-pany?” And so on.Finding People In Your DatabaseOnce you’ve added your prospects and customers to yourdatabase, you find them by utilizing the lookup feature. You canlocate people byFirst or Last Name,Company,City, State or ZIP Code,Phone Number,or almost any other criteria.Being able to find people is important, because when you wantto reach someone, it’s got to be easy to locate their name andphone number. When you want to send a letter or e-mail you canuse the database’s mail merge feature to automatically insert thename and address into the letter, saving you time, effort andenergy.Write Notes of Meetings And ConversationsTo aid your memory, always record a brief note to yourselfabout the details of your meeting or conversation each time youspeak with someone. This enables you to keep track of every-thing that has gone on between you and hundreds — or thou-sands — of people, because the notes of every meeting andphone conversation are at your fingertips.Don’t forget to enter any notes you may have made on yourprospect sheet into your contact’s record once you’ve addedthe person to the database.
  51. 51. _________________________________________________ Overcoming the Fear of Cold Calling 51This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Remember: The more detailed your notes, the easier it will befor you to separate buyers from non-buyers.Schedule Follow-Up Calls and Things To DoTo be successful in business and sales, you must stay on top ofall your opportunities, and keep in touch with the people whowant you to keep in touch. The easiest way to do this is to reli-giously schedule your follow-up calls and things to-do in yourdatabase.By scheduling your calls, meetings and to-dos in your databasenothing will ever slip through the cracks. You’ll stay on top of allyour things to do and people to call so that you capture all ofyour opportunities.I can’t stress this enough, if you want to be successful, youmust have a great follow-up system.No Naked Records: Keep In Touch With Your Custom-ers, Clients And ProspectsIf you fail to schedule follow-up calls or to-dos you have NakedRecords... People who are in your database that you’ve noscheduled follow-up for. Naked records are bad!If you haven’t scheduled a future follow-up call, you’ll quicklyforget about the people who you should be keeping in touchwith. Make it a point to keep in touch with everybody who youcould do business with you, or are in a position to refer businessto you.You may want to call some people once a week, others once amonth. A third group you may call quarterly.You’ll probably have people in your database who may not bereal good prospects today, but have the potential of becoming a
  52. 52. _________________________________________________ Overcoming the Fear of Cold Calling 52This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.good customer in the future. Schedule a follow-up call onceevery six months, or maybe just once a year. This guarantees thatyou won’t forget about them.You Need A Great Elevator SpeechNow that you’ve an understanding of how to process yourleads, it’s time to talk about what you say when you get on thephone. The first thing you need to have is a great ElevatorSpeech.The following is a brief summary of how to create an ElevatorSpeech. It comes from my best-selling eBook “Opening Doorswith a Brilliant Elevator Speech.”An Elevator Speech is a brief description of what you do andwho you do it for. It describes how you offer value, benefit, andquality to your customer or client.It is short and concise. It rolls off your tongue. It comes out sonaturally, that you can repeat it in your sleep. You are your Eleva-tor Speech and your Elevator Speech is you.And most importantly, you phrase your Elevator Speech in sucha way that the other person can’t say:“That’s nice, but I’m already doing business with...” or“We already have someone who does that in the office.” or“Thank you, but we don’t need any.”Your Elevator Speech buys you time so you can keep the con-versation going. It keeps your telephone conversations fromending in five, ten or fifteen seconds.Once someone says,“Thank you for calling, but we don’t need any. We’reall taken care of.”
  53. 53. _________________________________________________ Overcoming the Fear of Cold Calling 53This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.your opportunity is over.Here are some examples of introductory statements that are notelevator speeches:“My name is Sharon, I sell life insurance and am afinancial planner.”“My name is Dave, I’m a consultant.”“My name is Phil, I work for the ACME Printing Com-pany.”“My name is Kelly, I’m in sales.”“My name is Tom, I’m a lawyer [banker, accountant,doctor].”Yes, these statements may say what you do, but they don’tdescribe how you help your customers improve the quality oftheir businesses or their lives. They don’t describe how you addvalue. They don’t offer or describe any benefits.Most importantly, they don’t stimulate conversation!!!Here are some more examples of bad introductory statements.What kind of response do you think these generate:“My company is in electronics.”“My company sells medical equipment.”“We’re a manufacturing company.”The customer rolls her eyes, yawns and says to herself SOWHAT!And then the salesperson continues by stating:“We’re the best at...”“We’ve been in business for 25+ years.”
  54. 54. _________________________________________________ Overcoming the Fear of Cold Calling 54This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.“We do business with X number of companies in Y num-ber of states.”Or some such phrase — all designed to improve the person’scredibility. Once again the customer rolls her eyes, yawns andsays to herself SO WHAT! This is only the 3rd person who hassaid that to her this morning, and it’s only 10:30 a.m.Passing The SO WHAT! TestHere’s a good way to determine if you’ve got a great, good, orpoor Elevator Speech. I call it the SO WHAT! test.If you can say SO WHAT! after the Elevator Speech, you’re notselling a benefit to your customer.Look back at the previous examples. Can you say SO WHAT!after each one? You bet!And you wonder why you’re getting blown out of the waterevery time you speak with someone new. Craft a better ElevatorSpeech and you’ll open doors that have been closing on you.Now what if Sharon, the life insurance agent and financial plan-ner, said something like this:“I help families save money so their kids can go to col-lege and they can retire and enjoy their retirement.”Or Dave, the consultant, said:“I help companies find ways to improve their manufac-turing processes so they can reduce their overhead andimprove their profit margins.”Or Phil, the sales rep from ACME Printing, said:“At ACME Printing we help companies save time andreduce costs by making it easier for them to print theirinvoices and accounts receivable forms and process theirpayroll checks.”
  55. 55. _________________________________________________ Overcoming the Fear of Cold Calling 55This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Or Kelly, the sales rep for Specialty Products, said:“My company, Specialty Products, helps businessesimprove the way they market and promote themselves sothey can find more customers and close more sales.”Keeping The Conversation GoingThe Elevator Speech is designed to buy you time. You want tokeep the person talking because once your prospect says,“Thanks for calling, but we’re not interested.”the conversation is over. You’re road kill.Think about it, when was the last time someone ended a conver-sation when they were the person talking. It doesn’t happen.When you’re successful in getting a person to talk about him-, orherself, he’ll talk forever. When you’re talking about yourself,they’re bored to tears.Examples Of Good Elevator SpeechesHere are some examples of Elevator Speeches created by myconsulting clients:Mark, a financial planner says, “We help people savemoney and reduce taxes.”Robert’s company secures income tax refunds for hisclients, he says “We help companies get income taxrefunds from the state of California.”Chris, a banker says, “I help businesses with their moneyneeds.”Steve, a commercial real estate broker says, “I help cus-tomers make money in commercial real estate.”Jack, who is an executive recruiter says, “I help greatorganizations find top-tier people/talent.”
  56. 56. _________________________________________________ Overcoming the Fear of Cold Calling 56This Training Manual is licensed to the original purchaser only. Electronic or print duplicationis a violation of International copyright law. For registration information, call 312-944-4184.Dave, who sells software to builders says, “We helpcompanies cut their design and estimating costs.”Carolyn, who owns an employment agency says, “We’rein the business of helping companies find great employ-ees.”Cheryl, who sells computer technology says, “We helpcompanies improve their production processes.”Dana, who sells products and services to the telephoneand cable TV industries says, “We help cable TV &telephone companies make their central plants workbetter.”Joe, who sells encrypted e-mail communications says,“We help companies secure their confidential informa-tion communications.”As you can see from these examples, it’s impossible for theprospect to say, “We’re all taken care of.” or “We don’t needany.” These Elevator Speeches guarantee that the conversationwillcontinue.Create Your Elevator SpeechI would like you stop reading this training manual and take sometime to create your Elevator Speech. With a great ElevatorSpeech the quality of your telephoning results will improvedramatically.As you’re working on your Elevator Speech think about thebenefits your customers derive from using your product orservice. Don’t focus on the features and wonderful bells andwhistles that you offer.Remember, you just want a quick statement that keeps the con-versation going when you call a prospect on the phone. Nothingmore.

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