Ricky32478 Cold Call Journal (Advice Welcome, Negativity not)
121 RepliesJump to last post
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!
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.
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?