With all this talk about the rising cost of health care, it’s sometimes hard to know what to look for when you’re planning to go out on your own. Unfortunately, my wife was pregnant when I decided to flush my job, so I had no choice but to go with the COBRA plan offered by my former employer (don’t get me wrong, I’m FIRED UP about having a baby. I think the insurance has been about the Only negative so far). It wasn’t so bad until the company was sold and my premium went from about $400 a month to over $1000!

Post Birth Plans

When the baby is born, I plan to switch insurance companies because I am paying way too much. I think I will go with a high deductible HSA. This option has me paying everything up to $5000 per year and everything after that is covered 100%. Sounds like a lot, you might say. But, It’s about $450 less per month and if I put that $450 in the bank, I’ll have $5400 in savings at the end of the year.

Then, if I have to, I’ll use the $5000 and have $400 left over. Or, if I don’t use the $5400, it Rolls Over to next year! Eventually the money can be moved to an IRA or any other number of investment vehicles.

Other Insurance

I subscribe to the Dave Ramsey philosophy that it is irresponsible to go without life insurance and disability insurance if you have a family or any other financial obligations. They depend on you financially and it’s your job to make sure they’re taken care of no matter what the situation is. You can get no exam life insurance up to $500K for as little as $30 a month.

If you spend a little time shopping around and comparing, you’ll be able to save a good bit of money on any insurance you get from car, home, life, disability, and all the others.

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Ask any successful sales person why people DON’T SUCCEED in sales, and they’ll all tell you the same thing: Cold Calling. So, if cold calling is the reason people fail, shouldn’t we do everything we can to make sure we master it? And shouldn’t we do everything we can to make sure we enjoy it? YES! If you plan to make it big in sales, regardless or your chosen product or service, cold calling will be a big part of your life (for a while at least). Let’s Make It Fun!

How to Make Sure You Hate It

I would say that there is one way to guarantee that you will hate every minute of your cold calling career…Focus on your fear and procrastinate your preparation. Do this, and I promise you will abhor every cold call you make. These two things go hand in hand because as you procrastinate, your lack of preparation leads to fear of objections, rejections, and failure, which makes it harder to take the necessary steps to prepare next time. It’s a vicious cycle, that without a constant, conscious effort, is inevitable.

On the flip side, if you are very well prepared and keep your fear in check, you will be well on your way to success. It’s my belief that no matter how bad you are (to a point) you can be successful in sales if you put in the work and go through the numbers. Of course, it helps to be a people person, outgoing, energetic, friendly, smart, knowledgeable, and have all the “closing techniques” in your bag, but those are traits you learn, not something you’re born with.

Your Best Bet for Cold Calling Success

I would bet that if you gave yourself 1 full week to focus on the 3 basics I am about to give you, you’ll see a drastic improvement in your cold calling stats.

1. Prepare, Prepare, Prepare.

Know your products front and back - Know the market you’re selling in - Know your competitors! - Know your prospect (a little homework will do wonders. If you know you’ve got an Atlanta boy on the phone, a little Mike Vick joke would do just fine)

Do this and you don’t have to worry about them asking the tough questions or drilling you like a CIA interrogator. You’ll be ready for it all.

2. Plan Your Purpose.

Pick up the phone with a stated purpose. Are you trying to make the sale on the first call? Are you trying to spend 30 minutes doing a demo with an “information gatherer” (someone who can ONLY say “NO”)? Or are you trying to book a face to face with the decision maker?

Don’t stray from your plan because someone is willing to listen to your Spiel.

3. Don’t Take It Personal!

I will allow you to take it personal if you can honestly tell me that you have NEVER been rude to a salesman on the phone. OK, I didn’t think so…Everyone does it and every salesman hears it.

“We don’t need it” - click

“No Budget” - click

“He doesn’t take calls” - click

click

Most people you call think they are the most busy, the most stressed, and the most important person in the world. If you realize that and give them some room to make mistakes (we’re all human), your cold calling life will be much easier!

Related Readings

Quality Begets Quantity - And How Not To Make A Cold Call
How to Turn Your Connections Into Friends, Partners, and Customers for life
Donald Trump On Focus (video)
An Entrepreneur’s Secret To Stress Management

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Broadband

Everyone gets on the internet, and if you’re not, you’re wasting valuable time. With everything from paying bills to buying stocks, and ordering pizza to checking the weather, you can save lots of time if you have a broadband connection. Plus, we all know how annoying it is to sit down at the computer and wait and wait and wait and wait for the little blue bar to go crawling across the screen just to see some sort of error message that makes you have to start all over again.

BT Total Broadband is the UK’s most complete broadband and includes:

1. Free wireless BT Home Hub
2. Up to 8Mb download speeds
3. Wireless broadband out & about
4. UK Evening & Weekend calls included
5. 24/7 Support

When it comes to price, you have a couple options. Depending on which tier you decide upon, you get wireless, fast, and reliable broadband service, starting at less than the cost of a cheap dinner. Either way, your order comes with a free hub if you order before February 29th. That’s not all they have, either. With BT, you can get Phone service, mobile phone service, and TV as well!

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Sales Quantity

I wrote a few months ago in Quantity Begets Quality - And a New Direction for TheYoungCapitalist that,

What I’ve discovered is that as my quantity goes down, the quality of my best work goes down with it. When I write ONLY when I know I’m creating great work, I find myself less creative and less motivated overall when it comes to new post, new idea, and new work.

I think this translates well into the world of sales. I find that the more cold calls I make, the better my best ones get. Make sense?

If I only call what looks to be the “best” prospects, I end up being less successful than when I get a big huge list and get cracking. In sales, my saying holds true that “Quantity Begets Quality.” Sales is a numbers game. Granted, there are things you can do to increase your percentage of successes, but 25% of 20 is still less than 10% of 100 calls. The more you put in your funnel at the top, the more comes out at the bottom, regardless of how much you’re losing along the way.

How NOT To Make a Cold Call

1. “Could I take 10 or 15 minutes from you?” - No, I’m right in the middle of something

2. “I’m calling to see if maybe you might be interested in…” - No, I’m in a meeting

3. “Can I talk to the President?” - He’s not available. Side Note: He’s Never Available.

The problem with these questions is that they make it very easy for the person on the other end of the phone to say “No.” The alternative is to ask question that either make people want to say “yes” or have to say “yes.”

1. “I was hoping you could help me?” - Ok, what can I do for you?

2. “I have some info on (new product) that I would like to pass along. Who would make decisions on (said products)?” - You can send it to VPMarketing@prospectcompany.com

3. “I just got off the phone with (friend/coworker/colleague’s name) who said I may be able help you as I helped him.”

So Begins My Series on Cold Calling

You can Subcribe Here to stay up to date. I’ll be writing on “Making Cold Calling Fun,” “Warming Up The Cold Call,” “Getting to The Decision Maker,” and many others.

Related Reading

Networking Beats Cold Calls Every Time
Building Discipline Into Your Life
TYC Sales School: Your 3 Goals
How to Ensure a Lifetime of Employability
How Do You Warm Up a Cold Call?

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Books Books Books!

I know that I’m always looking for good books to read and I really like to get a few recommendations before I pour 10 or 15 hours into something that may or may not turn out to be a huge waste of my time. That being said, I’d like to offer some recommendations in the form of my current reading list.

1. The Sales Bible by Jeffrey Gitomer

Gitomer, a former salesman who is now a consultant and journalist, shares his tips on how to be a successful salesperson. He provides motivational advice and practical techniques for initiating, maintaining, and closing a sales presentation. Written in a breezy manner with short, easy-to-remember suggestions, this book should prove popular with persons just getting started in this field or those needing an inspirational pep talk. I, for one, think this is one of the most practical books on sales that I have ever read.

2. How Full Is Your Bucket? by Tom Rath & Donald O. Clifton

I read this one in a single sitting during a recent business trip in which I had about 2 hours to kill. It happened to be -3 degrees, so I decided to hunker down in Borders. Once I started reading, I couldn’t put it down. It’s not a terribly long book, but it’s filled with the positive idea of give-and-take that will lead to a better marriage, better relationships both professionally and privately, and easier life, and more satisfaction for everyone involved. I say it is very worth your time to pick this one up.

3. Eiger Dreams: Ventures Among Men and Mountains by Jon Krakauer

Written by Jon Krakauer of “Into Thin Air” fame writes of the harrowing events of some 15 of the worlds best mountain climbers as they take on the worlds tallest peaks. Not once in this book will you be bored or hoping to get a chapter over with. Halfway through you will acquire a new appreciation for your fingers, toes, and the fact that you still have a nose, because many of the main characters lose theirs. This is the ultimate for the Armchair Adventurer, because you feel like you’re right there with them. Luckily, you’re not.

The Benefits of Reading

I have always heard that where you will be in 5 years is based upon the books you read and people you associate with, so grab these books enhance your life!

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