Why does the cold-call rejection hurt so much?

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Jan 15, 2009 4:14 pm

Why do the hang-ups, smart remarks, etc., hurt so bad when cold-calling?

 
I'm new to cold-calling and making 100 calls a day.  Right now that's all I can stomach.  If I make 20 contacts, about 8 are hang-ups or complete a-holes and say something smart.  But why does it affect me so much?
 
Before I started doing the calls I said to myself, "This is just like meeting women.  At first it's painful to get rejected, but then you learn the game and can turn the rejections around.  And the ones you can't turn around, you don't care about.  So think about it like that and don't let it bother you."
 
Worked well on paper, but when I started making the calls, I'm a 16 year-old kid again and the tough rejections have me shrinking inside. 
 
I am honestly ashamed of myself because some idiot can make me feel so crappy and I can't let it roll-off my back.
Jan 15, 2009 4:39 pm

If it makes it easier for you, create a list of a-holes that piss you off each day/night and take a flaming bag of dog pooh and throw it against his front door and run away.

 
Or, when you hang up with the a-hole, call right back and if he answers the phone, say, "Oh, this f-g again".  The key is to say it like your talking to someone else in the room, not him.
 
Or, send the a-hole a letter asking him to remove himself from your list by signing up for the DNC list. 
Jan 15, 2009 4:48 pm

I love the call-back thing!

 
 
 
 
Jan 15, 2009 5:04 pm
Boone:

Why do the hang-ups, smart remarks, etc., hurt so bad when cold-calling?

 
I'm new to cold-calling and making 100 calls a day.  Right now that's all I can stomach.  If I make 20 contacts, about 8 are hang-ups or complete a-holes and say something smart.  But why does it affect me so much?
 
Before I started doing the calls I said to myself, "This is just like meeting women.  At first it's painful to get rejected, but then you learn the game and can turn the rejections around.  And the ones you can't turn around, you don't care about.  So think about it like that and don't let it bother you."
 
Worked well on paper, but when I started making the calls, I'm a 16 year-old kid again and the tough rejections have me shrinking inside. 
 
I am honestly ashamed of myself because some idiot can make me feel so crappy and I can't let it roll-off my back.



Do you even belong in this business? Be honest.

Jan 15, 2009 7:09 pm

Do a month of at least 500 calls a day and see how you feel at the end of the month.  If you feel like you do today get out of the business.

Jan 15, 2009 7:30 pm

Change your focus.  Right now you are looking for clients.  That sucks.  Concentrate on getting through the list ASAP.  What shakes out is what shakes out.  Don't worry about that, it will work itself out.  But if you try and get through each list quickly, before you know it you are calling 250 people a day and have a full pipeline.

Jan 15, 2009 7:46 pm

It's because you aren't separating your self-worth as an individual with your role as a prospecting financial advisor.

Jan 15, 2009 8:17 pm

Cold-Calling is an uncomfortable act for the vast majority of people. I know of a very rare few (two, to be exact) who actually enjoy it (they are both filthy-rich successful). For the rest of us, it is a matter of simply getting used to it through repetition. The more you do it, the more comfortable it will become. For some, it never gets comfortable enough. Then, it's a matter of prospecting by other means or quitting the business.

Jan 15, 2009 11:30 pm

1.)  Remember this is business it's not personal!


2.) If #1 fails listen to Hank's advice! (Are you right for this business?)
Jan 16, 2009 3:47 am
Ominous:

It's because you aren't separating your self-worth as an individual with your role as a prospecting financial advisor.

 
Ding ding ding ding!  We have a winner!  Couldn't have said it better myself.  If you can't separate your self-worth from your job, then maybe you are in the wrong job.
 
If you are in the wrong job, that's not to say you are in the wrong industry and must change careers entirely.  I have a very good friend who knows more about financial planning than probably anyone and everyone on this board combined, but he is not a "rainmaker" and does not have a rainmaker's personality.  He can't prospect to save his life.  He doesn't belong in another industry, however.  His niche is to be a salaried employee, manager maybe.
 
Jan 16, 2009 7:45 am

If you let the person you are calling control the call you will get eaten alive. Remember that you run the show and not the other way around. Call them as if they are subordinate to you. I have made over 40K calls in the past year and a half and have only had one person actually yell at me. It's not becasue I am lucky but because I call with confidence.

 
These are seven rules for cold calling posted by Gaddock over a year ago. I have them hanging in my office since my first day of production. They have served me well!!!
 
1.) I now call people with the purpose of disqualifying THEM.
2.) I speak to them with courtesy and respect but at the same time as if they are subordinate to me.
3.) I make my voice loud and clear trying to make it as forceful as I can.
4.) I stand up while calling and look in a mirror and force myself to smile even if a fake smile.
5.) I set my daily goal. Then one of two things will happen......I will call until 8Pm or meet my goal and go home.
6.) The most common knee jerk objections are simply ignored and I proceed with the call.
7.) I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.
Jan 16, 2009 10:36 am
12345:

If you let the person you are calling control the call you will get eaten alive. Remember that you run the show and not the other way around. Call them as if they are subordinate to you. I have made over 40K calls in the past year and a half and have only had one person actually yell at me. It's not becasue I am lucky but because I call with confidence.

 
These are seven rules for cold calling posted by Gaddock over a year ago. I have them hanging in my office since my first day of production. They have served me well!!!
 
1.) I now call people with the purpose of disqualifying THEM.
2.) I speak to them with courtesy and respect but at the same time as if they are subordinate to me.
3.) I make my voice loud and clear trying to make it as forceful as I can.
4.) I stand up while calling and look in a mirror and force myself to smile even if a fake smile.
5.) I set my daily goal. Then one of two things will happen......I will call until 8Pm or meet my goal and go home.
6.) The most common knee jerk objections are simply ignored and I proceed with the call.
7.) I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.
 
Those are outstanding! Thanks for sharing, all very true.
 
Also remember, when someone is a jackass on the phone to you now, they will be a jackass to you when they are unhappy with you, and you probably don't want that person on your books anyway. Remember, you are building your business. That always helped me when I remembered that on some level I get to choose who I work with. 
Jan 16, 2009 10:44 am

My role is a little different but entirely phone based. I get cussed at, called names, and thrown into really uncomfortable conversations every single day. Don't let it get to you, sometimes is does but go workout or for a run to work off the stress. When you're done, you're done, leave, don't bring the stress with you. 

Jan 16, 2009 12:43 pm

Great stuff guys.  I REALLY appreciate it. 


A lot of it makes total sense to me, especially the getting through the list quickly early on, separating my self worth from the calls, calling as if they are subordinates, the list of seven rules by Gaddock, etc.  It's all amazing stuff.
 
As far as being cut-out for this business, hell yeah I am.  I went to college an average looking guy that couldn't say 2 words to girls, and walked-out with dual degrees, one in Finance, and the other in, how to land women that were out of my league.  (I'm still trying to figure out what good the Finance degree was)  It took MANY rejections, but persistence paid off.  Plus, if I actually think I'm not cut-out for the business, I don't have a shot before I even start.
 
 
 
 
Jan 16, 2009 1:03 pm

lol, wtf? ^

Jan 16, 2009 1:25 pm

yeah that was a lot of info that should never be shared again..

Jan 16, 2009 2:16 pm

I thought that would get a funny reaction!  It's all about getting emotions out of people right?


 
But I will keep it to myself going forward.  LOL
Jan 16, 2009 2:25 pm

If you want to evoke a reaction, tell them you're from the IRS.

Jan 16, 2009 8:28 pm

My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:


Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.
 
Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.
 
Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."
 
This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.
 
 
Jan 16, 2009 9:02 pm
Ferris Bueller:
maddmatt:

My opinion is coming from 20 years of Insurance and car sales, not financial advising. So, take it with a grain of salt, but in my experience I have found that a person is either good on the phone or they aren't. Fact is, since you have such vast experience in making the ladies, you really need to treat the phone like you're trying to f%@# it. There are three phases:



Phase 1: The "trying to get her to pay attention to me" phase. Yell and act like a jackass to get her attention.

 

Phase 2: The "I am the best damned thing that ever happened to you" phase. In this phase, you should give the prospective piece of a** that you are really listening to her (him?!) and that you are sensitive to her(his?!) needs.

 

Phase 3: The "take it to the bank phase". Throw the biggest line of b.s. at your prospect you can think of, then laugh say you are just kidding lower your voice and say "seriously though,  I think you and I need to be alone."

 

This process will result in more appointments which result in more closes which will result in more net commissions. One word of caution, always wear protection.

 

 



This is some of the worst cold calling advice I have ever heard. No wonder insurance salesmen get a bad rap.

 
I suppose I should have spelled out the fact that I was fu#&ing joking. Man, can't a guy get a break around here? No wonder Wall Street is so f'd up. Too many tight asses. Don't worry, I'll loosen ya'll up.