New discussion to stay motivated, that is all. Feel free to join in. My goal is $5mm in NNM by December
Weekly stats so far...
Meetings: 1 today with previous prospect from cold call from a year ago. He's got $250k trying to close it today.
Summer is a rough time to be dialing....woof.
Meetings: 2, signed paperwork for $450k and $330k
Ready for next week!
Why did you stop posting? I have tried starting a bunch of conversations on here and felt like no-one was still using the site. I saw some of your earlier posts and wanted to know if the revenue cycle is so long, how did you get past your hurdles in the beginning?
Updates: August is a rough month for dials but I still try for at least 150 a day. I spend alot of the time dripping on leads I have in my pipeline. From 8:30am to 10am I'll call leads and then follow up with an email to let them know I called them, and include the latest research report. This gives me something to call them back next week on. Then 10-12 cold calls, back at it 1-3pm, 4-5pm.
Last week stats:
Calls: 250...low I know
Follow ups/meetings set: 2
To answer your questions....lead time depends. I've called some one who has said "Oh, I was just talking to my spouse about it this morning..." Usually those close quick, but I have had people I meet with that week and it takes a year. My process for calling is much different than most as well. I don't use rebuttals or presuasion. I am searching for the guy with the interest and money. I can usually tell right away if the person is interested but has no $$$ so I politely get their info and cross them off the list. Qualifying questions are the most important when dialing, not rebuttals.
In the beginning I got a local library card and used the electronic resources there to find businesses owners in the area and made a list of them. It was cost efficient and allowed my to get comfortable on the phone. Then I switched to lawyers, real estate agents...all their info is available for free. Now I buy corporate directories. Expensive, but effective. I know where the company is, who runs their 401k, ESOP, RSU's. Once you get a client or two from the company you can really use them at your referral source.
wealthmanagement.com is an awesome resource for new and rookie FA's. also great is www.advisorheads.com.