Calll Reluctance

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Apr 28, 2009 12:24 pm

How do I get over this? I have a list a script, just can't pick up the phone. Any ideas...

Apr 28, 2009 12:28 pm

look at your bank account at zero and decide to pick up the phone.  Lift up the phone, make money.  Leave the phone down, out of business.   Seriously, it is that simple.

Apr 28, 2009 12:43 pm

look at "Earning what you're worth". It helped me when I was first starting out.


And do your first call before you do anything. Even before you turn your computer on. Lots of simple mind tricks can help you over come this.
Apr 28, 2009 1:49 pm

Nick Murray, Excellent Investment Advisor, Chapter about Painless Prospecting. Buy the entire book, it will be the best $50 you have ever spent.

Apr 28, 2009 2:35 pm

Quit. Cold calling is dead. Professionals don't cold call. If you want to work in this industry, find a different way. You're trying to call people up and say, " Hi, I'm a professional, I want to help you, pay me some money". Google the definition of professional, how many have cold called you recently?

Apr 28, 2009 2:37 pm
Mishigun:

Quit. Cold calling is dead. Professionals don't cold call. If you want to work in this industry, find a different way. You're trying to call people up and say, " Hi, I'm a professional, I want to help you, pay me some money". Google the definition of professional, how many have cold called you recently?

 
You rip cold calling and door knocking, so what is your strategy ?
Apr 28, 2009 2:39 pm

Referrals through personal contact.


 
Here is #5 in the Wiki definition of a pro:
 

A high standard of professional ethics, behaviour and work activities while carrying out one's profession (as an employee, self-employed person, career, enterprise, business, company, or partnership/associate/colleague, etc.)
Apr 28, 2009 2:51 pm

Right, right, right.

Apr 28, 2009 3:00 pm

Jones is smart. They're in the business of maintaining neighborhood offices - the office itself, and the assistant (not the advisor) - are the main investment. Over time, "location" IS the brand. You go and you walk the neighborhood, saying, "the office" is at the foot of the hill. Of course, they lose money at first, and break even later. Sometimes, a hire has the right personality to make it through the mine field. Part of that requirement is overlooking #5. Sure, you can still find some nice people, even smart people who will overlook #5 as you go through time.



Here, start a career at Jones. While you're starving, blow out your 401k and use that to subsidize our advertising tie-in to the TV ads. "Take over a book", or start a new office! I forgive (smart) career changers for not understanding the economics, or establish Jones reps for enjoying the fruits, but c'mon, Jones and anyone else who cold calls and sells by commission is hurting the industry, no question.
Apr 28, 2009 4:57 pm

The more people who believe that cold calling is dead will lead to greater success for those who do cold call.


One does not need to cold call or door knock to be successful.  Yet, I see nothing that makes one who does any of these activities unprofessional.  


Maybe successful brokers make more than most of their doctor, CPA, and attorney clients precisesly because of their willingness to cold call and do whatever it takes instead of worrying about whether it looks "professional". 


It seems like a pretty poor business decision to not do some cold walking/ cold canvassing.  Ex. I have a 4:00 meeting with a lawyer in a law firm.  I arrive 5 minutes early.  What do I have to gain by not stopping in the CPA firm across the hall and introducing myself?

Apr 28, 2009 5:17 pm
tqspygame:

How do I get over this? I have a list a script, just can't pick up the phone. Any ideas...

It's so weird how the act of calling a random number can create fear. I call it the fear buzz.
 
IF you don't do it you will fail, simple as that. If you do it will be a hard drive but you will be OK. There is a new guy in my office. The guy is brilliant and has a masters. I've offered to call with him and he declined every time. That would have been an offer I would have jumped on big time, I knew at that point he was toast. He's failing miserably.
 
Those that poo poo cold calling don't have the balls to do it. Simple as that. If you think it's not professional, I defy you to give me a list of your clients, your AUM will fall like the market in November.
 
Here is how you start out to sharpen your knife. Find the nearest ghetto and the street in it out of the Polk's directory that you will have at your office. THEY WILL NEVER BE YOUR CLIENT so it makes absolutely no diff that you call them. You can have a lot of fun with this FYI, I did. Don't take no for and answer overcome every single thing they toss your way until they agree. They Will never show up but it will get you started.
 
GET ON THE PHONE!!!!
 
Only two things will happen, they will sell you a no or you will sell them a yes.
Apr 28, 2009 5:31 pm
anonymous:

The more people who believe that cold calling is dead will lead to greater success for those who do cold call.


One does not need to cold call or door knock to be successful.  Yet, I see nothing that makes one who does any of these activities unprofessional.  


Maybe successful brokers make more than most of their doctor, CPA, and attorney clients precisesly because of their willingness to cold call and do whatever it takes instead of worrying about whether it looks "professional". 


It seems like a pretty poor business decision to not do some cold walking/ cold canvassing.  Ex. I have a 4:00 meeting with a lawyer in a law firm.  I arrive 5 minutes early.  What do I have to gain by not stopping in the CPA firm across the hall and introducing myself?

 
Absurd. We could laugh about this in person. Role play: Mish cold calls Anon while he's eating dinner. Later, Mish shows up at knocking at the door.
 
Your second point is the "myth". That somehow "brokers" who didn't go to college or barely graduated can be as successful as doctors, who strap into the pilot seat of a jetliner.
 
Even lawyers wait for people to come to them. Dead meat floats down the creek, and they come out of their hole with their pinchers and hook onto it.
 
I think your brand of cold calling is more like referral marketing. ( At work, daylight hours, you earned the right to introduce yourself.)
 
Please don't confuse the two. Jones is doing our industry no favors with their brand of door knocking.
Apr 28, 2009 5:33 pm

And yes, advisors can be more successful and a happier than doctors, if they act like professionals. I'm not going to be spending a lot of time trying to convice anyone here. " How do you feel when you're door knocking ?" If you feel unprofessional, you probably are.

Apr 28, 2009 6:08 pm
Mishigun:

And yes, advisors can be more successful and a happier than doctors, if they act like professionals. I'm not going to be spending a lot of time trying to convice anyone here. " How do you feel when you're door knocking ?" If you feel unprofessional, you probably are.

 
Unprofessional? I just had an appointment with a business owner that I cold called and he is closing on this govt contract that will net him $5million in the next couple of months.  Also, I'm working on a bond ladder for his current holdings and oh yeah, he's going to introduce me to his 54 independent contractors that I can pitch as well.  Cold calling sucks huh? I was in Iraq buddy . . . Getting shot at sucks
Apr 28, 2009 6:21 pm

Good for you, buddy. Thanks for serving in Iraq. Guess you feel professional now, ain't it a great country.

Apr 28, 2009 6:26 pm
Mishigun:

Good for you, buddy. Thanks for serving in Iraq. Guess you feel professional now, ain't it a great country.

 
Are you saying that serving in the military isn't professional?
Apr 28, 2009 6:30 pm

I feel very professional and my production is proof. Not sure why Mish is such a bitter little man but who cares about him. If he's a noob he wont be around long. If he's a vet WTF is he doing posting on this thread with his negative bitter tirades.

 
Run from negativity like it's the plague
Apr 28, 2009 6:30 pm

Now that you're a cold calling financial advisor, you must feel professional, because cold calling doesn't bother you. "Call reluctance" is good instincts.

Apr 28, 2009 6:31 pm

Gaddock, you're sounding a bit negative, dude.

Apr 28, 2009 6:37 pm

"dude"? Now that's professional