For all the EJ vets: as you know when you're first starting out, EJ requires 25 contacts per day. Contact being defined as having a meaningful conversation with an individual about their investment needs and walking away with their contact info. What percentage of the time did you guys actually hit the 25 mark on a daily basis?
Often. But keep in mind, "meaningful" covnersation should be used loosely. If you spoke to someone, and you decide based on that conversation that you will attempt to contact them again, it should be counted as a contact. If you had a good conversation, then they said "but don't ever call me", don't bother.
Lambda, it's not about what Jones requires that you should be concerned with. It's about making enough quality contacts that you can build your business with. Try to remember that, and it won't matter what your numbers are. You're better off with 10-15 great contacts per day, rather than 25 "BS" contacts just to fill some quota.
I'm not an EJ vet (praise the Lord) - but Broker24 is right on. Quality over quantity. However, you also need to demonstrate high activity levels to satisfy Vader and the EJ Empire. One idea to get around this is to make high level contacts (15 - 20) - but then take 30 minutes to chat with some buddies and family members so you can 'honestly' record that you made your 25 contacts that day. When you're focused on hitting a bogie - you'll tend to work on hitting that number, even if it's unproductive. When your objective is quality based - you'll be productive.
Find that balance -
I'd agree with both guys on most parts. For you, until you get through your training and the magnifying glass gets lifted off of your numbers, you really need to hit 25 everyday. You might only have 10 "good" prospects out of your 25, but you need to put 25 into your system. If you don't hit your numbers the quality vs quantity issue is a moot point.
a great way is to hit businesses in the morning. You should be able to get 10-15 decent contacts per hour. Don't necessarily go right for the owner, mine the employees from the office. Talk to the receptionist about advising employees on their 401k's. Talk about rollovers. Get the contact for HR. You can usually leave each business with 3-5 contacts. Hit business, industrial and office parks.
After you get 15 business contacts, you can concentrate on getting 10 quality residential contacts. You also don't need to BS any contacts this way.
The other guys are right though, quality is much better than quantity when it comes to prospecting.