My cold calling survey is already yielding some very interesting results.
As my way of saying “Thanks” for taking my survey, I will send you a copy of all my Research Magazine articles on cold calling published through 2012.
A key question on my survey is: What is the most difficult part of the cold calling process? Please describe in detail.
I then took all of these answers and categorized them. Here are the categories, some of the responses, and my analysis of the first two categories. I will share a detailed analysis of all the categories when the survey is done.
Meantime, the first two problems are:
- Dedicating a block of time every day to the process on a consistent basis.
- Picking up the phone and starting.
- Actually making the calls.
There were 21 answers, all similar to these, making this the largest category.
I have two theories on why it’s so hard for some people to make cold calls.
1) The successful advisor syndrome.
Forty-one percent of the people who responded to my survey have been in the business six years or longer, and 27.6% have been in business 10 years or longer.
These people know, whether conceptually or not, how much they are worth an hour as a financial advisor. (For those who may be new to this column, it’s about $1,000 per hour when that time is spent meeting with clients and prospects.)