Reason 2: Fail to Prospect, Plan to Fail
I’ve never had to queue to cold call, have you? We all hate doing it but you don’t have to like making them, you just have to make them. Anyone who says they like making them is either sick, lying or has never made one!
Fail to prospect and you are at the mercy of Lady Luck. Would you be comfortable gambling your house, your marriage and your children on the hope that Luck will provide and you’ll always have enough customers at the end of your current project or sale to keep you afloat? Probably not! So why do so many of us do this? Feast to famine to feast to famine. Over 80% of 2000 small business owners and salespeople I’ve interviewed or trained were lucky to be 35% productive in any given year. That means for a MAXIMUM of 65% of the year their time is taken up with navel gazing and waiting for the phone to ring. (many admit ot be as little as 10-20% productive). You’re probably not that ineffective, but if you are, you’re not prospecting effectively or often enough.
Do you know who’s in your target market? Have you defined them clearly? How can you contact them? When you do make initial contact what are you going to say to get them to invite you in to meet them?
Apparently a DTI (UK department of trade and industry) survey noted that 47% of new business was generated by word of mouth and a whopping 43% was initiated via a cold call. Combine networking and asking for referrals with cold calling and that’s 90% of new business generation delivered via these two tried and tested methods.
When you network be specific and ask for referrals all the time. On that note, if you know any business owners or executives responsible for sales revenues or sales teams in the London region in Technology, Telecommunications, Professional Services, Financial Services or Banking who are frustrated with the performance of their sales, who find themselves losing in bids and tenders or struggling to recruit the right salespeople first time every time, do drop them a line with my details (07515 937 221 email@example.com) or give me their details and I’ll make the call myself!