Ricky32478 Cold Call Journal (Advice Welcome, Negativity not)

[quote=ricky32478]

I just ended my second day of cold calling I want a place to keep me accountable so I am going to post my numbers

Day 1:

212 Cold call

36 contacts (people I talk to including people that said no thank you)

5 prospects (people that agreed to have me mail them something and send them my E newsletter)

0 appointments

Day 2:

190 Cold Calls

37 Contacts (people I talk to including people that said no thank you)

7 prospects (people that agreed to have me mail them something and send them my E newsletter)

1 appointment set and confirmed   225,000 rollover IRA  not huge but happy I landed my first appointment

I literly called from 10 this morning till 8:45 tonight.  I can't possibly call anymore than I am already calling.  How do I make more calls?  During the day I do resume Marketing ( I basically sift through resumes on the internet and call people about 401k's left at their old employers plan, I only call people that have been working for 25 years or more).  This has yeilded much more contacts, prospects and my only appointment.  The only problem is I do this from 10-5 and I can't get through more than 60 calls.  The rest of the night I call residentials.  Any advice? Am I doing something wrong? or am I doing ok for my second day?  Will post tommarrows results in this forum.

[/quote]

You do what???

How do you call from 10-8:45pm if you are doing online investigations from 10-5??

If you planted rows and rows of corn, stuck to a reasonable plan, did what the "experts" say works.... Would you expect corn in two days? Of course not.

Have a plan, have it reviewed by an expert or two, then have the discipline to execute it, be patient, don't give up, be true to yourself. This also means "pace", don't overdo it.

By my reading, you are probably going to have some success with this.

One more thing.... you can't ask for "no negative comments"! That just brings negativity, or you'll be ignored. Take the good with the bad, just like your cold calling.

Good luck Ricky! 

I go through resume's and when I find one that meets my criteria (has work for basically 20-25 years) I call them

Sounds like you have a good plan in place.

Good luck and keep us posted!

[quote=ricky32478]

I go through resume's and when I find one that meets my criteria (has work for basically 20-25 years) I call them

[/quote]

You said you called all day, but then said you looked for resumes from 10-5pm..

Either way your numbers are decent..repetition is the key in this game.

Day # 3

Cold Calls : 74

Contacts : 22

Prospects : 4

Today was a really bad day.  I did not have much time to call.  I had 3 rookie meetings including a conference call that I had to be on and I have a meeting I have to go to tonight at 8.  I am feeling a little depressed but I'll snap out of it and hit it harder tommarrow.  Have a great night guys!!!!

Keep your head up! Tomorrow is another day, that's what I keep telling myself!

[quote=ricky32478]Day # 3 

Cold Calls : 74

Contacts : 22

Prospects : 4

Today was a really bad day.  I did not have much time to call.  I had 3 rookie meetings including a conference call that I had to be on and I have a meeting I have to go to tonight at 8.  I am feeling a little depressed but I'll snap out of it and hit it harder tommarrow.  Have a great night guys!!!![/quote]

They only thing you HAVE to do is call people. Find ways around all the other crap. If you can't find a way then make up for it on sat or evenings. Keep it man!!!

Thanks for the motivation!!! going to bed right now and waking up early to go cold walk a hospital in my area that is doing a major layoff (721 people) 403B rollverovers here I come.  I don't know if it is going to work but it will kill my morning till about 930AM and then I get back to the office and hit the phones like a mad men.  I'll let you know how it went

How did the cold walking go, any luck?

I did not do it.  I cold called the company instead and got an appointment tommarrow morning.  I'll let you know how it went.

10/07/10 results

cold calls 88

Contacts 31

Prospects 5

Appointment 1

I could not do a lot of call because I had mandatory company specialist meetings and rookie training classes today.  My contact ratio was very good today so I didn't mind.  I really don't care that much about calls I just want to do a mininum of 30 contacts a day no matter what I have schedule for any day.  See you all tommarrow

10/08/10 results

Cold Calls 43

contacts 17

prospects 5

appointments 0

I did not have time to call today again because I had a morning appointment.  Drip marketed on prior prospects for the week and Closed my first account this afternoon .  340,000 mortgage from a CPA refferal.  I wanted to leave after taking that application but I made myself cold call from 430-830 on friday night.  Im coming in tommarrow and calling ill keep you guys posted.

Good job!  Keep it up!

10/09/10 results

cold calls 101

contacts 22

prospects 3

Have a good night im taking sunday off

I literly called from 10 this morning till 8:45 tonight.  I can't possibly call anymore than I am already calling.  How do I make more calls?

If you are dialing through a system like Gryphon - ask your management team for a second log in - and a second phone.  You can make 2x as  many dials that way.  I use headset one one ear for one phone and speaker for the other.  I have one list to the right and one to the left and follow along them with rulers so I don't get lost.

 It's extremely rare for two phones to pick up at once when dialing this way. When it happens, hang up your weak side (I'm a righty - so I hang up the left) and when I'm done the call on the right - I call the left number back and apologize for phone trouble (my trouble was I had too many lines going!)

[quote=ricky32478]

I just ended my second day of cold calling I want a place to keep me accountable so I am going to post my numbers

Day 1:

212 Cold call

36 contacts (people I talk to including people that said no thank you)

5 prospects (people that agreed to have me mail them something and send them my E newsletter)

0 appointments

Day 2:

190 Cold Calls

37 Contacts (people I talk to including people that said no thank you)

7 prospects (people that agreed to have me mail them something and send them my E newsletter)

1 appointment set and confirmed   225,000 rollover IRA  not huge but happy I landed my first appointment

I literly called from 10 this morning till 8:45 tonight.  I can't possibly call anymore than I am already calling.  How do I make more calls?  During the day I do resume Marketing ( I basically sift through resumes on the internet and call people about 401k's left at their old employers plan, I only call people that have been working for 25 years or more).  This has yeilded much more contacts, prospects and my only appointment.  The only problem is I do this from 10-5 and I can't get through more than 60 calls.  The rest of the night I call residentials.  Any advice? Am I doing something wrong? or am I doing ok for my second day?  Will post tommarrows results in this forum.

[/quote]

Cold call results for 10/11/10

Cold Calls 100

Contacts 40

prospects 5

Today felt like a bad day.  I read some motivational stuff to get myself out of the funk I was in and then I was fine.  All in all another day on the phones:)    see yall tommarrow

Cold call results for 10/12/10

Cold Calls 100

Contacts 19

Prospects 1 (Very weak prospect if that)

Today was the worst day yet but that just means Im one day closer to having the best day of my life tommarrow :).  Keep the faith!!!!

Keep on pushing!

10/13/10

Cold Calls 100

Contacts 32

prospects 3

So so day

10/14/10

Cold Calls 175

Contacts 44

Prospects 5

I have gotten over 50 people in my pipline now I believe.  I mail them something ones a week and once my e newsletter comes out i am going to call them to see if they got it and liked it?  Any other suggestions on how to get some appointments out of this?  Or do I just keep on driping on them and adding new ones to pipeline each day?

Keep those contacts up, somethings got to give!

Ricky and Westwood, remember, it's a glacier, and you got an ice pick. It isn't going to happen overnight, nor will it happen if you put the ice pick down. Seriously, if you bust your tail, you should start making regular new account openings somewhere in the 60-90 day range provided you don't have some big flaw in your plan. Realize, that 3 yrs from now, you'll open some account, where the first dial was in the first month or two of your career. Coming full circle takes some time... Hope that helps.

[quote=ricky32478]

10/14/10

Cold Calls 175

Contacts 44

Prospects 5

I have gotten over 50 people in my pipline now I believe.  I mail them something ones a week and once my e newsletter comes out i am going to call them to see if they got it and liked it?  Any other suggestions on how to get some appointments out of this?  Or do I just keep on driping on them and adding new ones to pipeline each day?

[/quote]

Who are you calling...?

Your contact ration is almost double what Westwood(not judging) is.  Your dials are going down, but your contacts are increasing....So are you calling residential also? Only at night? or something else.

business in morning, resume marketing in afternoon, new movers at night. 

I am out of resumes though right now so my contacts are going to be inline with westwoods now.  Resumes is what was moving up the contacts

10/15/10

Cold Calls 169

Contacts 35

Prospects 4

Have a great weekend.  I'll post tommarrows results. 

10/16/10

I need an easy day today.  So I made myself go in and call for just an hour and half.  I started at 2.  This was a bad mistake because no one was picking up and they were pissed when I talked to them.  Next sat I am calling from 9-1.

cold call 60

contacts 9

prosects 0

10/18/10

Cold Calls 265

contacts 44

prospects 4

I ran out of resumes for a while so back to residentials and business's.  My numbers should look like everyone elses now :)

have a good night

Your contacts are looking pretty good, keep it up!

thank you sir

10/19/10

Cold Calls 167

Contacts 29

Prospects (even though some people think these are not prospects!!!!!!!!!!) 5

Have a great night.

You do realize people are trying to help you succeed right? All advice on here is to try and help you succeed. Maybe some of it seems harsh and many times it’s blunt, but this isn’t the world of everyone receiving a trophy at the end of the year… Unless you work for EJ (I know, cheap shot).

no worries... I appreciate the support.  The more time I worry about what a prospect is the less time I have to dial.  Thank you very much for you feedback

 "Unless you work for EJ (I know, cheap shot)."

Well, that was simply classic...ROTFLMAO...

Ricky, I fully agree and support you. Don't worry about the definition of "prospect", that's the least of your worries. And frankly, you'd probably be a bit better off counting the victory of calling them a prospect, and cutting your teeth on them as well. Keep those dials going, and when you start "popping" new accounts, you have no idea the rush you'll feel. It will be like a wind to your sails, and make you stronger.

Thank you bigfirepower.  I needed that today.  I had a no show for an appointment and it kind of got me down.  Im going to keep my head up and keep going

[quote=ricky32478]

Thank you bigfirepower.  I needed that today.  I had a no show for an appointment and it kind of got me down.  Im going to keep my head up and keep going

[/quote]

Don't let it get you down...move on to the next!

Bad day but today will be better

10/20/10

Cold Calls 64

contacts 13

Prospects 1

I'd expect 1/3 of your appointments to no show.

You can fight no shows, by doing a few professional things.

When you set an appointment, write a card with the date and time on it. Send a map along with parking instructions. The day before the appointment, call to confirm, leave a vm if necessary.

By doing that, you should cut your no shows by at least 50%.

If someone no shows, you go right back to them, and try to reschedule. If they no show you twice, then dump the prospect, unless they have a very good reason for the no shows.

Oh, you reminded me of something very useful. Hand written notes. Make a habit of sending 5 hand written notes each and every day. Thanks for this, thanks for that, whatever.... The good will created is beyond your imagination, I've had some very big success with that. Our firm, we've created our own cards, post cards with pictures of our local community. A very nice touch, and professional.

u are awesome bigfirepower.  I really enjoy reading your post.  You always make me feel good

10/21/10

cold calls 102

contacts 21

prospects 3

I had an appointment today.  200,000 rollover .  She is coming back next week to sign paperwork (hopefully! that is what she said.)  I tried to get her to do the paper work right there but I noticed her body languange change and asked her if she would be more comfortable taking the night to think about it.  She said she was fine with it but had to pick up her son in 30 mins so I scheduled the appointment for next thurs at 130 to finish the paper work and ACAT forms.  I already emailed to confirm and wrote thank you card.  I will call to confirm the day before.  Did I do the right thing?

“I tried to get her to do the paper work right there but I noticed her body languange change and asked her if she would be more comfortable taking the night to think about it. Did I do the right thing?”

This is still a hard thing for me. To a certain extent no. You have to ask the question that will make them uncomfortable, and then shut up. You should not have given her the out. It’s tough believe me. Make her say that she wants to take the night to think about it.
Think of it like cold calling. You want to be able to overcome objections, not make them for the client.
I still have a problem sometimes with being quiet after asking the question. Asking the question is the most important part, now you have to learn to shutup after asking it. But I’ve begun to notice the silence starting and am able to sit and wait for their responce. Make them tell you no or give you an excuse/reason. Don’t do it for them.

good advice

The assumptive close; "who are the folks you would like listed as beneficiaries on the account" has always worked for me.

A good friend of mine, gave me this little gem about closing. If she's meeting with husband and wife, and she senses an issue, she excuses herself from her office for a few minutes to "powder her nose". When she comes back, the two prospects have had a chance to either agree, or discuss an objection. She says this winds up closing the deal almost every time.

I'm a real straight shooter. I've got nothing, nada, on my record after 19 yrs, knock on wood thank the Lord. I never push, or cram anything down anyone's throat. I believe my job in a presentation is to establish Trust, Knowledge, and Likeability. I've even coined that as LKT, "the premise of a good professional relationship".

Ricky, I think you handled the situation appropriately. You are generating activity, in a positive way, and pretty soon the results will speak for themselves. Keep up the hard work, you and Westwood really are quite inspiring.

[quote=BigFirepower]

The assumptive close; "who are the folks you would like listed as beneficiaries on the account" has always worked for me.

A good friend of mine, gave me this little gem about closing. If she's meeting with husband and wife, and she senses an issue, she excuses herself from her office for a few minutes to "powder her nose". When she comes back, the two prospects have had a chance to either agree, or discuss an objection. She says this winds up closing the deal almost every time.

I'm a real straight shooter. I've got nothing, nada, on my record after 19 yrs, knock on wood thank the Lord. I never push, or cram anything down anyone's throat. I believe my job in a presentation is to establish Trust, Knowledge, and Likeability. I've even coined that as LKT, "the premise of a good professional relationship".

Ricky, I think you handled the situation appropriately. You are generating activity, in a positive way, and pretty soon the results will speak for themselves. Keep up the hard work, you and Westwood really are quite inspiring.

[/quote]

Good Post BFP!  I think in this business you truly learn by doing, as we are both learning the hard way.

Learning the hard way, no, I am pretty sure that you and Ricky are smarter than that, as evidenced by your participation here at RR forums.

You can learn the hard way, by ignoring good advice, or trying to reinvent the wheel.

You can learn from your mistakes, that's better.

Better yet, you can learn from other's mistakes, and increase your efficiency.

But, it is safe to say, you cannot avoid mistakes entirely, as they are the byproduct of activity/action. Just don't make trading errors... 

you guys are awesome.   Thank you!!

numbers are bad today cause I spent all day doing follow up. 

Cold Calls 38

Contacts 16

prospects 2

 I did the resume's today thats why my contacts are up.  See yall tommarrow

Are you having much luck following up?  It seems like it's 50/50 with me.

could not set any appointments from it today (although I have set 2 appointments from it in the last 2 weeks). When I said my name people told me it was great to hear from me ( i think its because I wrote them a lot of hand written notes) no one wondered who I was.  Some people told me a time when to call back and when they wanted to meet (mostly before thanksgiving and after the new year).  I think it will work but I have been asking around and people tell me the people I cold call today will book appointments if followed up properly 3-9 months down the road.  I am just following that process.  If I get lucky and have someone that is willing to meet, I will meet them.  I always try to get an appointment on every follow up call but do not push it.

10/23/10

I only had a half hour to call.  I have a family event today and I have to mail out hand written holloween cards to my "prospects" so I was only able to call for a half hour

cold calls 34

contacts 5

prospects 0

Evey little bit counts.  Keep on plugging away.  I have also mailed out a bunch of handwriteen notes, but so far its been 50/50 on those too, but like they say it should pay off in the end.

Bad day.  I am now getting really busy with follow up.  I need to find more time to cold call.  I am trying to mix it up with cold walking, cold calling, and roledex marketing ( my dad is a CPA and I'm trying to call on different centers of influence in his book))

Cold call 60

contacts 10

prospects 2

Hey guys, just started really calling on a regular basis. glad to find a forum that discusses success stories aswell as frustrations. Well, will add numbers tomorrow as I need some rest BNI at 7AM

Sorry guys I haven't posted in a while.  I have stop counting my calls.  I work as hard as I can every day and I don't want to track any more.  AS long as I do 30-40 contacts a day I will be fine no matter how many dials that is.  Anyway, today was a great day.  I opend my first account on cold calling ( I had 2 refferals but this was the first account on cold calling).  It was a 200,000 401k rollover.  I was so pumped after that I did not take any time to celebrate.  I pounded the phone and I guess my mood was raidant over the phone because I landed a 300,000 dollar appoint on monday on the first call.  Thinks are looking good.  I have decided not to obsessively post my numbers here any more because I notice I was wasting time during the work day browsing this forum.  I will keep you guys posted of my success's in this forum.  Keep on dialing and smiling

Awesome, but I would still collect the data you were posting.   Even if you don't post it here, I would still keep a tracking sheet so that you can know your baseline numbers EVERYDAY.  Awesome work though!

Great job Ricky! Nice to hear you are having some success!  Keep it Up!

You say you are searching resumes for rollovers to call in? Where do you get those resumes from? Its a great idea, I'd like to implement it in my practice as well.

Ricky, and Westwood, I was thinking of both of you, wondering where you were.

To both of you, I'd strongly suggest that you change little or nothing to what you were doing. Ice pick into the glacier, it's working Ricky, don't CHANGE anything. KEEP POSTING like you were, it was an accountability thing, good for you.

[quote=BigFirepower]

Ricky, and Westwood, I was thinking of both of you, wondering where you were.

To both of you, I'd strongly suggest that you change little or nothing to what you were doing. Ice pick into the glacier, it's working Ricky, don't CHANGE anything. KEEP POSTING like you were, it was an accountability thing, good for you.

[/quote]

BFP, still pluging away, just haven't had much time to post.  I feel like I have hit a wall these last couple of weeks and have really been feeling the pressure of being a failure.  I have been calling like crazy, but it just seems like the more dials I make the less people I talk too and the people I talk don't seem to be interested in what I'm saying.  I feel like I need to change something, but don't know what.  Another thing is the people that I initially spoke with that had some interest, I follow up and some of them act like we didn't have a conversation before or are just not interested anymore....I don't know, this is really tough...I just feel lost right now.

Westwood, you should really buddy up with Ricky. You are both working hard, and need to learn from each others mistakes and successes. But, you MUST continue to daily post here, I'm convinced it is crucial to your success.

Westwood, I'd suggest that you ease up. Take 4 days off, disappear from the world. Family, work, friends, just disappear for a bit, sleep, relax, go for a long walk hike or two. If you do that, you'll clear your head, come back fighting hard. There is a reason why I said 4 days, not two, or three. It has to do with how our brains are wired.

I did exactly that back in late 2002 and the results were incredible. Not even my wife knew where I went for several days. All I did was eat, sleep, walk trails, and some beach hikes. Was like the unclenching of my fists, but only instead, I unclenched my brain. Didn't cost much money either. My gross went through the roof, calling was better, I had a plan... 

just checking in guys.  I am so busy lately with follow ups, cold calls, rookie meetings.  I hope to close my second account on weds.  It is the third meeting I have with this couple.  256000 rollover.  Sorry for not posting more.  I will try to do more.  Always good to hear from you bigfirepower and westwood.

I kicked butt today.  I landed two appointments.  Wish me luck going on my third meeting for a 256,000 rollover.  I told him that this is the meeting we sign papers if he likes me idea.  I think its going to go threw.  I'll keep you guys posted.

By the way I will only post contact here now because I do not keep track of dials because I realized it does not matter how many times I dial the phone but how many people I talk to.  I think you can't fail if you talk to 25+ people today.

Today I was busy calling all the people that wanted to hear back from me so I only contacted 16 new people

RIcky, you're starting to see the point of what you and many other new folks don't realize at the very beginning. You're input at first can only go to such a degree, that your follow up can handle. The lesson of that is "tempo", or pacing, whatever you want to call it. For any rep that is prospecting, there comes a point where you overdo it, and eventually in the pipeline you pay the price for it. It doesn't do any prospecter the least bit of good, when you create such a big pipeline, that you MUST QUIT MAKING NEW CALLS. The trouble with that is, you eventually go back to making calls, because your pipeline becomes drained. Leaving YOU...drained. Better to find the proper amount of calls, contacts, so that the activity is sustainable. Ricky, I think you're just about right when you say that having 25 conversations is the ideal number. A few years from now, it might be more like 20. An established rep I know, who is much like Bond Guy, had his target every day at 15 conversations per day. Good luck with the meeting Ricky!! 

Ricky, I was wondering where you are getting the resumes.  I would love to try this myself.  I looked through this post to see if you mentioned it before but I didn't see it. Thanks!

big fire power you are awesome.  I want to keep in touch with you because I get encouragement from you.  Thank you very much.  I did not cold call today :( I don't cold call before an appointment because I don't want negativity or rejection to be in my mind at all before an appointment.  I closed the appointment for only half the amount :(.  I guess 125000 is better than nothing.  Im sure once they see my service I provide they will give me the rest. 

I also had 2 mortgage calls today and a new business account refferal (not cold call) so I really did not have any time to cold call today.  I will do it tommarrow.  I rewarded myself by leaving the office at 6 instead of 9 like I usually do.  I don't have any appointments tommarrow so I will hit the phones hard tommarrow.

By the way for the resumes I paid the 6000 grand it cost for a yearly membership to career builder.  It ain't cheap but I figured if I make an investment in myself it will payoff.

hey Ricky,

congrats on the 125k. half is better than none. just wanted to ask on what basis do you call. if possible whats your spiel when you do call.

Ricky, I've found that as long as I get 50k to start, I'll eventually get the rest. I don't care if it is in 6 months, or 6 years. Ice pick on the glacier...

Hi this is rick from ________,

i;ll be brief with you,

the reason why I am calling today is your name came accross my desk as someone that is in a career tranistion and I wanted to let you know of a special offer my firm has for people in your exact situation.  Have you had a licensed financial advisor review your old 401k or IRA's in the last year?

Ricky, try that again, incorporating ALL the essential elements of a good presentation.

brief (35 seconds or less), name recognition, sexy/safe, tangible benefit, free/special offer, sense of urgency.

You're missing a few. I think if you add the missing elements, you're going to dramatically increase your response rate. Ricky, MOTIVATE them...

BFP,

Sexy/safe?  I don't think you're talking about health class so what is it that you mean?

Safe = words like; insured, investment grade rating, etc... safety of principal.

Sexy = investment themes that are currently popular, invoke emotions of greed and capital appreciation.

Hello, Mr. Jones...this is Big Firepower, from Nuclear Securities, perhaps you've heard of me?

Regardless sir, the REASON for my call....

This week we are currently offering a Texas, Land of Fire Hospital, Municipal Bond that is AAA rated, pays 5% tax free interest.

Considering that banks are paying you zero to one percent interest, I thought this might be of interest to you?

Name recognition, 35 seconds or less, tangible rate of return, Safety, sense of urgency, special offer

The training program I am in makes me push managed products.  I am trying to think of how to do this with what you are saying and I am having great dificulty.  Can I please have some help.  The muni bond script is not going to work because of a couple of reasons for me.  I am calling on 401k rollovers so it would not make sense to buy muni bonds in this account and I have to sell a certain amount of "annuitized products" to keep my job.  Please help me big firepower because I really like your pitch I just need help making it my own. 

Ok, I know it's a bit more of a challenge, but you have got to take those points and package it the best you can. I've managed to sell bonds, funds, and va accounts using that format. Somehow, you put that together, and you'll see a meaningful increase "statistically meaningful results".

Hello, Mr. Jones...

This is Big FIrepower from Radioctive Asset Management, perhaps you've noticed my green glow from across town?

Regardless, the REASON for my call...

You've recently been sh#tcanned from your job, and you probably think you're doomed to working at McDonalds?

No, with me, you've got some hope...

If you'd like some income while you search for meaningful employment, and would like some control of your investment portfolio, I can help.

Compared to letting your old firm manage your life's savings, I'd hope that sounds good to you? Good, I thought so...

I'd like to offer you a free appointment to discuss how to utilize your former employers retirement plan in getting you back on your feet, and still find ways to save money for your eventual retirement. Do you have some time to meet next week at my office at Ground Zero?

That is amazing..... you are the best I am going to incorperate that right now.  I got 2 hours more of calling.

36 contacts today :)

those are great outlines. I have 2 appointments tomorrow so wish me luck.

I will begin to post my results on monday

good luck man

just wanted to update on my day.

1 no show

1 had to reschedule to due to work conflict.

I know days like this will happen. nothing to do but get up and bang out the phones again on monday. until then see you guys later hope all a great weekend.

That happens.... you have the right attitude though!

That happens.... you have the right attitude though!

16 contacts yesteday.  I will post more numbers tonight.  I have an appointment so wish me luck. 

Hey guys,

I just had a great appointment closed about 90k in assets. first appointment and client also gave me referrals.

wish it was also this easy. but if it was everyone would want to be advisors have a great friday to all

also i have about 11 follow up from the only day i really had to call wednesday.

Im killing it.  Appointments are happening all the time now.  I just cold called a million dollar account.  I have the appointment on the 29th.  I also landed a client that does a WHOLE LOT of new issues business.  I am giving him as much as I can get and I am getting a great amount for a Trainee.  I got 5000 shares of GM this week :)

Yes, the icepick is bustin up the glacier. Ricky, you're awesome, I logged on at home just to tell you that. Enjoy your success this we, let the progress be like wind in your sails.

congrats Ricky, it's really encouraging and inspiring to read about your success!  What kind of leads are you working with?  Did you use Ref USA? or was it purchased?

great week ricky, I love to hear success stories just keeps me going aswell, has anyone heard from westwood?

also I picked up two new accounts this week. feels great also some referrals. Enjoy your weekend guys.BFP you are truly amazing you should be a business coach. take care

Thank you guys.  Boy did I need that wind in my sail today.  I qualifed this appointment a month ago on my second day cold calling.  I qualified for 250+ but when I showed up today he only showed me a statemed for 40k I ask is that it and he said thats all he had to his name.  I polietly excused myself and told him my miniumin fees do not justify his asset level and I left.  I got make to the office and hit the phones like a mad man to replace that bad appointment.  I did!!!!!!! I schedule a 200,000 rollover appointment for december 1st.  I def qualified this one for sure

By the way.. 33 contact today.  Anyone on here familiar with syndicate business?  And hot deals coming out in december?  PM meet privately or discuss it on this forum.  Thanks~!

So I'm new to the FA side of the business, I came from Oppenheimer funds wholesale side and recently joined a successful team as a junior.  My role is not exactly what I thought it was going to be, that’s fine with me I just need to shift gears and get moving.  Basically I was brought on to take over the bottom of a book, learn from my senior and go from there.  My actual role is more along the lines of I need to get 10mil under management in the next 12 months to keep my job.  My firm does not hire newbie’s and I got brought on strictly because my senior is the number 2 producer in the company.  So this means little systems to help someone from the ground up.  Now to my questions:

1.  I do not get lists of any sort provided to me, any suggestions on where to get those from?  If I am going to be making 150+ calls a day I need numbers.

2.  I do not have any internal compliance that helps with the DNC list, any suggestions on that.

3.  Finally any advice negative and positive is always appreciated.

[quote=ricky32478]

Hi this is rick from ________,

i;ll be brief with you,

the reason why I am calling today is your name came accross my desk as someone that is in a career tranistion and I wanted to let you know of a special offer my firm has for people in your exact situation.  Have you had a licensed financial advisor review your old 401k or IRA's in the last year?

[/quote]

You have to have a conversation with the prospect. If you come across as a salesperson rather than person, the flags go up. I know there are people who say that just to blurt out the pitch, but the problem is every Tom, Dick and Harry are doing the same thing. Differentiate yourself and talk to people. 

Just a question on the resume calling.  Since you paid for the careerbuilder membership, do you still have to scrub the numbers against DNC lists or is it fair game since these are people who willingly put their contact information on the net?

just read an interesting article about cold calling on resumes....

http://www.fiercefinance.com/story/morgan-stanley-broker-uses-jobs-site-cold-calls/2007-09-14

and this one....

http://www.sec.state.ma.us/sct/sctms2/ms2complaint.pdf

guess its a good thing you got away with it.

Ricky...Ricky....Ricky...where is you..... your blog is waiting for you....

I am back... Sorry I have been very busy.

I feel kind of down today.  Things are gong slow for me.  So far as of date, I only have 325,000 in the books right now.  I have about a million in the pipeline that I am meeting with.  (People that I have already sat down with and are in the 3 meeting process i.e discovery meeting, investment meeting, and mutual commitment meeting).  I schedule each meeting a week apartment from each other.  Am I doing this right?  I am pitching rollovers and managed money.  I know this works I just need a little support today!

I am back... Sorry I have been very busy.

I feel kind of down today.  Things are gong slow for me.  So far as of date, I only have 325,000 in the books right now.  I have about a million in the pipeline that I am meeting with.  (People that I have already sat down with and are in the 3 meeting process i.e discovery meeting, investment meeting, and mutual commitment meeting).  I schedule each meeting a week apartment from each other.  Am I doing this right?  I am pitching rollovers and managed money.  I know this works I just need a little support today!

p.s I have being doing this since 10/04/10

I am back... Sorry I have been very busy.

I feel kind of down today.  Things are gong slow for me.  So far as of date, I only have 325,000 in the books right now.  I have about a million in the pipeline that I am meeting with.  (People that I have already sat down with and are in the 3 meeting process i.e discovery meeting, investment meeting, and mutual commitment meeting).  I schedule each meeting a week apartment from each other.  Am I doing this right?  I am pitching rollovers and managed money.  I know this works I just need a little support today!

I feel you ricky Im struggeling as well Im making 150+ calls a day and just not getting anywhere

who are you calling, where are you getting lists from?

I need some support as well, Im a 30yr old new new in an office of 2 senior succesfull brokers.  I thought I was brought on to help their book but before I can do that I need to raise 10 million it turns out, Im just really negative and need to get over it.  It just sucks being the only person calling, only person working past 4 and only person to work on Saturdays.  I feel like Im destined to fail...

In this biz, you have got to be your own cheerleader.

Your colleagues, spouse, friends, cannot help you with this.

Ricky, I am a huge huge huge opponent of the multiple meeting approach.

A 75% free throw shooter that makes one attempt, will miss the basket only 25% of the time.

A 75% free throw shooter that make 3 attempts, will make a miss 60% of the time in those three attempts. 

Apply your logic, this multi step approach, to any major buying decision you have made in your life, and you'll see that you've possibly overcomplicated things.

Another important thing to consider, is that you must continue to balance your prospecting with the cultivation of your pipeline.

If you feel angry, negative, depressed, you must conquer those emotions before you continue your journey. That might mean taking a walk around the block, having a moment with significant other, going for a long car ride, talking the issue out with a friend. If your emotions are really bad, you take a few days off and decompress from your society. 

Wow, I'm supposed to disappear for 3-4 days when I"m struggling??!! You can't be serious!!! Yes, that is EXACTLY what you must/should do. Think about Tiger Woods... he should have taken an entire year off, disappeared, come back when he was ready. Instead, he pushed it, and made things worse on himself.

Clients can pick up on negativity, stress, pushiness, fear, etc. Your not doing yourself the least bit of good unless your mindset is right. When your brain is in the right place, the results and actions become easier.

Hope that helps.

Ricky, I've been following your success, and honestly I think you're doing great.  Give yourself a break!!  November is a tough month with holidays, and so will December.  I don't know where you are from, but in NY this is the slowest time of the year due to all the snow birds flying down south.

Keep up the good work Ricky, I'm looking forward to your success.  And I'll be keeping a journal soon as well!

Ricky, you are still in the ramp up phase. $325k aum is a good start for the first sixty days. That said, the next two months should bring much better results. If they don't, then it's time to change something.

Looking at the math regarding your pipeline and process. Over the nxt month you should close at least 30% of that pipeline. So, your AUM will double over the next 30 days. From there the pipeline needs to increase to maintain growth. Whatever your pipeline amt is for appointments closing within 30 days, 30% of that number is a realistic projection  of new assets under management within that time frame.  Maybe it will be higher, but for planning purposes, that's the number.

That being the case, if you want to book a million a month in new assets you need to get in front of 3 million a month in closing situations. Less than that and you fall short of goal. If your pipeline isn't producing those kind of numbers it's a simple fix. And, no, that fix isn't to make more calls. The fix is to call bigger money.

Good job and good luck!

I like that Idea.  I think 30% is pretty low.  So far I have a million in the 3 meeting phase that I have already meet.  and next week I have about 500,000 I have not meet yet.  I think I am doing already.  I just need to have faith and work even harder! 

[quote=smokey]

just read an interesting article about cold calling on resumes....

http://www.fiercefinance.com/story/morgan-stanley-broker-uses-jobs-site-cold-calls/2007-09-14

and this one....

http://www.sec.state.ma.us/sct/sctms2/ms2complaint.pdf

guess its a good thing you got away with it.

[/quote]

Damn.  I guess I better return all those names I mined from that classified Pentagon report.

Ricky,

First, I just wanted to say thanks for having this thread up.   I know it helps you keep yourself accountable, but it also provides valuable insight for others.   I take the 66 later this week and will be entering production in February.   The numbers you have posted have been very useful for getting a real world look at what to expect from prospecting in today's economy.

Now that you are 2 months in, do you mind telling how many accounts you have opened?  I know you posted your AUM, but the firm I'm working for has an apprentice period that requires a certain amount of new accounts opened.   I'm way more concerned with getting AUM when I start production, but I'm curious to see where your progress would fit in that program.

If you don't want to post that info here, I'd appreciate it if you would send me a PM.

Keep up the hard work!

send me a pm

by the way I will not post on this thread anymore.  thank you for your continued support, especially firepower!

[quote=ricky32478]

by the way I will not post on this thread anymore.  thank you for your continued support, especially firepower!

[/quote] Why Ricky?

Why, thanks Ricky, very kind of you. You can PM anytime.

Work smart, work hard, and never give up.

maybe it was the articles :)

Don't stop posting. At least keep us updated ricky!

IM BACK.  I CAN'T STAY AWAY.  I AM GOING TO REPORT NUMBERS DAILY.  THOSE ARTICLES SCARED ME POSTED ON THIS FORUM ABOUT CAREER BUILDER BUT I DECIDED I DON'T CARE ANYMORE.  I NEED SUPPORT TO MAKE IT.

32 CONTACTS

100 DIALS

600 IN PRODUCTION

[quote=ricky32478]

IM BACK.  I CAN'T STAY AWAY.  I AM GOING TO REPORT NUMBERS DAILY.  THOSE ARTICLES SCARED ME POSTED ON THIS FORUM ABOUT CAREER BUILDER BUT I DECIDED I DON'T CARE ANYMORE.  I NEED SUPPORT TO MAKE IT.

32 CONTACTS

100 DIALS

600 IN PRODUCTION

welcome back!!

Ricky we heard of your leaving

But now your wild times have just begun

Guess you kind of scared yourself, you turned and run

But now you've had a change of heart.....

Ricky don't lose those numbers

You don't want them to call somebody else

Send it off in a blog to yourself

Ricky don't lose those numbers

This blog is what you condone

You might use it and do better

The production you will own

ricky, may help you to join our cold call tracking group. each person enters their daily numbers and we can compare and compete with each other.  sorry if the articles scared you but better to be safe than fired.

BFP, I didn't know you were so poetic?! nice rhymes!

Welcome back Ricky!! As Smokey said..

Join our cold calling campaign,

and to our success, pop champaign.

I stole that from Steely Dan. NewReg, you should know that, being so musically inclined and all!

Update to the "cold calling competition"

the google document, group and website have been set up. if you want access and do not have it, send me a message on here with your google ID. 

we will be using the shared excel document to compare our daily activity. we have developed a point system so that we can keep score on the goals and tasks

the google group is used to share our thoughts, questions, etc

the google site is set up so each FA can have their own site where they can share their plans, strategy, script, etc. 

every member has full edit access to all of these.  contact me if you do not. we hope to start for jan 3rd so anyone else wanting to join, please send me your google ID as soon as posible, although its fine to join later on.

The more people we have involved, the better this will be so please share it with anyone else you know who could benefit from it and who we could benefit from.

I just ordered a leads list from a firm. I am about to begin the same process that you (ricky) are currently involved in.

 Any one out there utilize a leads list with success?

Also, how can I become involved in the "Cold Calling Competition"?

[quote=Nicole_Marie_LPL]

Also, how can I become involved in the "Cold Calling Competition"?

[/quote]

Nicole,

Send me a private message with your GOOGLE ID. can be one that you make just for this or one that you already have, depending on your own need for privacy.