A Strategy for Your Prospecting Problem.
Prospecting is like shaving
if you don't do it every day
he will soon end up as a bum.
So said Frank Bettger.
Prospecting, should not be a problem
you should make it a process.
Prospecting to me was critical,
because without a continuous supply
of prospects. I would be dead in the water
I would not be able to reach my goal of financial independence.
In fact, it was so important . I decided
not to do it
I trained other people to do it for me.
When I first started selling insurance
I tried cold calling on the company
directors, who were my prospects,
but I quickly found it soul destroying.
I could not get past the barrier that all Managing Directors use to shield them from unwanted callers,ie: their PA's or secretaries.
So I decided to use the telephone to make
appointments with these prospects.
Use a hook to make an appointment
I found it relatively easy to make an
appointment with Directors by using a hook,
like a change in tax rules, or a change in
the government's budget or any other recent
change, as a reason to visit the managing
director of the company with a promise to
explain how the change could affect their
company, and how to avoid or reduce the
problem . I also promised not to take more
than 15 to 20 minutes of their time.
My strategy for prospecting.
I found it very easy to make appointments
on this basis, and I was making three
appointments from every six actual contacts
I realised I could train a part-time
assistant to do this for me.
Remember, the goal at this stage is to make
an appointment, not to attempt to sell
insurance or group pensions or any other
commodity or service over the phone.
All you need is a good hook, and anyone who
can use the phone can make appointments for
Prospecting is one of the 4 pillars on
which you build your selling career is
critical to your success.
You must have a continual stream of
prospects to see.
But it is $10 an hour work and is a job that you should delegate.
Henry Ford helped me sell Insurance!
I turned PROSPECTING into a Process.
I used to Henry Ford's three S's of mass
production which I had learned on my
management degree course.
This became the basis for my strategy for
Simplify, Standardise and Specialise.
I wrote a simple script, which I trained my
part-time assistant to use, I also threw at
her the kind of objections she could expect
to hear, and I gave her answers to those
I also made my full sales presentation to
her, exactly as I would to a managing
director, so that she had a complete
understanding of what it was that I said,
and did for my clients, so that she had
complete faith in me and my service.
I gave her a paper log of my working week
made up of five days each divided into four
These were my appointment times through the
day, starting at 9:15 a.m., and then 11:15
a.m. a break for lunch next 2:15 p.m., and
These time slots allowed me up to one hour
for each presentation, and an hour
travelling time between appointments.
This became my standard working pattern for
the whole of my insurance career, and it
worked extremely well for me.
You may wonder why I specified 9:15, rather
than 9 a.m.
I had learned there is a psychological
benefit. When you say you want 15 minutes
of a person's time, and you ask for a
meeting at 15 minutes past the hour, your
request to seems more believable. If your
presentation is interesting enough for your
prospect, then the time limit ceases to be
In the event that your prospect is not
interested . or is not a suitable prospect
it is no problem to cut and move on at the
end of the 15 minutes.
I identified for my assistant, the exact
type of prospect that I wanted to meet.
And they were, the managing directors of
small to medium size companies to whom I
could sell Group or Director pension
It is possible to make between 80 and a 100
phone calls per hour when you specialise
I used a variety of sources for her to find
these prospects, including Compass
directories, Yellow Pages and other
databases but the best one of all is the
ordinary telephone directory.
In this it is possible to find and group
your prospects by the telephone code
number. The assistant looked first for the
bold type which is how companies are always
listed then she would call those that had
the code for the region in which I wanted
to work on that day.
This had the advantage for me that it kept
all the calls I was to make on that day
confined to a particular area which saved
me travelling time.
Let Henry help you build your Success.
As I said Prospecting is so important to
your success if you are not continuously
doing it you will fail, rather than making
it a problem make it a process.
The strategy that Henry ford used to mass
produce motor cars was the basis of all
mass production that followed but it also
works when applied to any process, even
As I built a sales organisation I was able
to employ telesales people to make all the
appointments for my salespeople which kept
them busy and which led to our success.
This knowledge will be an asset to you
but like all assets if you don't use it
--you lose it!
If you have questions or need advice about
any aspect of selling please let me know or
if you would like to receive more
Successful Selling Secrets drop me an email
Ps:- I am writing more success secrets
about Selling that apply to all types
of business owners. I've had
thousands of appointments,you can believe
that what I tell you works!
I will keep you posted on new info.