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Casual Articles - Cold Calling for Introverts
Business Best Practice (2) Succeed More Often by Anticipating Problems/Preparing Backup Plans ique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have.Note: This article is an excerpt from my Entrepreneur's Survival Reference E-Book Self-Help Manual titled "25 Avoidable Mistakes No One Will Warn You About In Starting Your Own Business"(in which "Failing To Prepare A Backup/Alternative Action" is one of the 25 mistakes discussed). As a result, you will find that illustrations used are more relevant to persons starting up their businesses. Having said that, the ideas proferred here can be easily adapted for use in any other business situation.Do You Have Backup/Alternative Action Plans For When Your Business Suffers Unexpected Setbacks?“One way to succeed is to work hard at not failing by always anticipating problems before they occur” – Peter DruckerCertain successful entrepreneurs are reputed to be uncomfortable with "good times" i.e. when everything appears to be going "smoothly". According to one book I have read, these individuals formed this habit as a result of past experiences, when such "good times" in their businesses were followed by a string of unexpected setbacks. Their exper We begin by at least knowing what department or area of a business or company would usually be interested in our product Profitable Marketing Programs Part 2: Figuring Break Even Point In her book, The Introvert Advantage, Marty Olsen Laney talks about the defining moment when she embraced the fact that she was an introvert. It came in the form of a statement, “Oh, there’s nothing wrong with me, I’m just an introvert!”In Part 1 -- http://www.websitemarketingplan.com/online/profit.htm -- I discussed how to consider both long term and short term profitability in your marketing programs and assumptions that go into conducting a break even analysis. Here in part 2, I will look at three different break even formulas.Figuring Break Even PointTo figure the break even point, you should know the program’s expected response rate, the program’s expected conversion rate, and the lifetime value of a new customer.In the formulas below, the response rate and conversion rates should be expressed as a decimal (Examples: 1%=.01. One-half percent=.005). The lifetime value should be expressed in dollars. For more details, please read Part 1 of this article.Figuring Break Even Point Based on Lifetime ValueThe lifetime value formula requires you to make assumptions about how many times a customer will purchase from you over a period of time (usually around 18 months to two years) and the average profit on each sale. For average profit, start with your total sales d According to her research only 25% of people are introverted which leaves us the daunting task of dealing with the 75% extroverts of the world. And surprising as it seems, there are those of us who have, for one reason or another, chosen to make our living in sales. Being in sales poses many problems for introverts but probably the biggest is the idea of making cold calls. Now before we look at cold calling for introverts let’s look at the concept of cold calling itself a bit closer. Sales guru, Jeffry Gitomer, says that cold calling is the least effective method of generating new sales. It interrupts the prospect, probably irritating them, and has a fairly low rate of return. Having said all that, cold calling is still needed and sometimes required of those of us in sales. As an introvert I have always looked with envy at the ease with which an extrovert approaches cold calling. Because they dwell in the outside world (while many introverts find their reality in the inner world) they find it easier to pick up the phone and call. They are usually more outgoing naturally so conversation with strangers is easier. And, darn it, they also don’t seem as affected by the inevitable rejection; seemingly able to shrug it off and move on to the next call. Introverts will sometimes go to great lengths to avoid cold calling. First we have to plan who to call - who is most likely to be positive or at least neutral about our call? Then we have to make sure we have all our information together to handle any contingency that might come up - files, literature, scripts and anything else that might take 5 or 10 more minutes to find. Then we have to think about our prospect’s schedule - we don’t want to call too early or too late and, you know, everyone is too busy on Mondays and Fridays aren’t a good day to call either. Once we’ve exhausted every excuse we’re left sitting looking at the phone. It’s time to pick it up and call. Short of drugs, there’s probably no way to completely eliminate the stress cold calling causes introverts. But let me lay out a technique that works for me; both reducing my stress and, surprisingly, producing good contacts and prospects. As a caveat there is one aspect to this technique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have. We begin by at least knowing what department or area of a business or company would usually be interested in our product. Pressure Washing Companies and Co-Branding Now before we look at cold calling for introverts let’s look at the concept of cold calling itself a bit closer.Pressure washing companies often miss what we call ‘super niche’ markets, those industries which very much need pressure washing services and are willing to pay top dollar for them. One such industry is the signage business. For a pressure washing company with no relatives or friends in that industry it is hard to break in and get work there, however if you con-brand with an existing company you may find yourself with more work than you can handle and able to bill at very high ratesHaving been in the pressure washing industry some 25 plus years, we had always found that hooking up with a local sign company gave us instant credibility in the region and an expanded customer base of new clientele. Must of the new clientele once there cleaning signs had much more to wash also. For instance one time we went to clean a large sign for a sign company at a Lumber Company. Once there the owner was pleased and read the side of the work truck which we had also traded out in services for washing the sign company’s service trucks. The Lumber Company owner had us busy for two-days washin Sales guru, Jeffry Gitomer, says that cold calling is the least effective method of generating new sales. It interrupts the prospect, probably irritating them, and has a fairly low rate of return. Having said all that, cold calling is still needed and sometimes required of those of us in sales. As an introvert I have always looked with envy at the ease with which an extrovert approaches cold calling. Because they dwell in the outside world (while many introverts find their reality in the inner world) they find it easier to pick up the phone and call. They are usually more outgoing naturally so conversation with strangers is easier. And, darn it, they also don’t seem as affected by the inevitable rejection; seemingly able to shrug it off and move on to the next call. Introverts will sometimes go to great lengths to avoid cold calling. First we have to plan who to call - who is most likely to be positive or at least neutral about our call? Then we have to make sure we have all our information together to handle any contingency that might come up - files, literature, scripts and anything else that might take 5 or 10 more minutes to find. Then we have to think about our prospect’s schedule - we don’t want to call too early or too late and, you know, everyone is too busy on Mondays and Fridays aren’t a good day to call either. Once we’ve exhausted every excuse we’re left sitting looking at the phone. It’s time to pick it up and call. Short of drugs, there’s probably no way to completely eliminate the stress cold calling causes introverts. But let me lay out a technique that works for me; both reducing my stress and, surprisingly, producing good contacts and prospects. As a caveat there is one aspect to this technique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have. We begin by at least knowing what department or area of a business or company would usually be interested in our product Find Passion for Your Work ld) they find it easier to pick up the phone and call. They are usually more outgoing naturally so conversation with strangers is easier. And, darn it, they also don’t seem as affected by the inevitable rejection; seemingly able to shrug it off and move on to the next call.Most people spend approximately 25% to over 67% of their waking hours working. Eventually, most everyone will want to work in a career that they enjoy and are paid well enough to live a prosperous life. Yet, far too many people end up being miserable in their job and find themselves stuck in a career that they did not choose. People then get discouraged, produce less, and become disgruntled. Unfortunately, people then blame themselves or those they work for, when in truth there is rarely anything wrong with them or the people they work for. Instead, maybe their job selection process is flawed which causes them to fall into the wrong positions.You have considerable control over selecting your work conditions to get the position you are passionate about by following these 11 steps.Step # 1 Avoid following the normal trial and error career selection processYou probably follow the trial and error path to select your job or career. You take jobs that appear to be the best opportunities and try them out. You adjust to what your bos Introverts will sometimes go to great lengths to avoid cold calling. First we have to plan who to call - who is most likely to be positive or at least neutral about our call? Then we have to make sure we have all our information together to handle any contingency that might come up - files, literature, scripts and anything else that might take 5 or 10 more minutes to find. Then we have to think about our prospect’s schedule - we don’t want to call too early or too late and, you know, everyone is too busy on Mondays and Fridays aren’t a good day to call either. Once we’ve exhausted every excuse we’re left sitting looking at the phone. It’s time to pick it up and call. Short of drugs, there’s probably no way to completely eliminate the stress cold calling causes introverts. But let me lay out a technique that works for me; both reducing my stress and, surprisingly, producing good contacts and prospects. As a caveat there is one aspect to this technique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have. We begin by at least knowing what department or area of a business or company would usually be interested in our product Franchisor Pro Forma Statements: Marketing - Mendacity - or Malfeasance 5 or 10 more minutes to find. Then we have to think about our prospect’s schedule - we don’t want to call too early or too late and, you know, everyone is too busy on Mondays and Fridays aren’t a good day to call either.The Franchise RelationshipIn theory, the franchise relationship is a symbiotic relationship, such as a marriage, or a partnership. However, as often happens, there is a significant gap between theory and practice. What should be well understood is that the goal of the franchisor is the same as any other business entity: maximize profits. Moreover, we live in an era of immediate gratification; therefore, in many business entities long-term planning is limited to managing earnings per share (EPS) for the current reporting period. Thus, many franchisors will maximize profits in the short-term whether of not this has a deleterious effect on the franchisee. I owned and operated a ‘family restaurant’ franchise; therefore, this discussion will tend to focus on this type of franchise.Clearly, the franchise relationship mimics a marriage in that there is a strong tendency for disputes to become more frequent and bitter as the business relationship evolves from the honeymoon stage to an actual business relationship, a partnership where one partner controls the oth Once we’ve exhausted every excuse we’re left sitting looking at the phone. It’s time to pick it up and call. Short of drugs, there’s probably no way to completely eliminate the stress cold calling causes introverts. But let me lay out a technique that works for me; both reducing my stress and, surprisingly, producing good contacts and prospects. As a caveat there is one aspect to this technique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have. We begin by at least knowing what department or area of a business or company would usually be interested in our product The Information Age, Make It Work For You ique that may bother some people but give me until the end of the article to provide some explanation. The underlying assumption here is that someone in the business or company you are about to cold call could have requested information about your product or service. This assumption could include Internet inquiries, “bingo” cards in magazines, inbound 800 number calls, or any other way to request information. It doesn’t mean that they actually did ask for information, only that they could have.The Information Age. That is what writers and analysts have labeled the concluding years of the twentieth century and the beginning of the twenty-first century.Throughout the time-line of history every great era has been given a name to identify the major achievement or advance in progress that marks that time period.Some that come to mind are the Ice Age, the Bronze Age, the Iron Age, the Industrial Age and now the Information Age.I don't know if the people of the time knew what age they were in or did future historians name it for them? Nevertheless, a great advance in the progress of man was achieved.Thanks to the Ice Age we can grab a cold beer anytime we wish. Wasn't ice invented during the Ice Age?We the people of the Information Age know it's the Information Age. We don't have to wait for future historians to give it a name.Why? Because with all the information available to us and all the leisure time we have to reflect on it, we know what to call it. Back in the other ages, they were so busy progressing that they didn't have time We begin by at least knowing what department or area of a business or company would usually be interested in our product. If you sell forms, which department uses those forms? If you sell advertising, would the marketing department be the logical place to start? If you’re in industrial sales, which department mainly uses your goods or services? Take a deep breath, pick up the phone and dial. If you get an automated attendant you can usually raise a “real” person by hitting “0” on your phone. When you get that real person say something like this, “Hello, my name is Joan Smith with ABC Company. I need to speak with someone in your ___ department (that department name being the one you previously identified). In 90% of calls they will connect you without comment. We’ll deal with the other 10% in just a minute. The phone will ring and your stress level will peak. Will someone answer or will you end up in voice mail - what you say next remains the same either way. When someone (or the message machine) answers say something like this. “Hello, my name is Bill Jones with ABC Company. I’m new in this position and as I was going through my predecessor’s files I found a request for information from your company but it doesn’t have a name on it. I didn’t want to throw it away without at least trying to see if the information had been sent. Do you know of anyone who would have requested information on (your product or service)?” And wait. They may ask for your company name again. They may ask for more information on the product or service you just mentioned in passing. But most of the time their reply takes one of the following forms. “Well, that would have been (a name). Let me connect you to him - make sure you have a pen ready during this call.” When you’re connected to Bob (or his voice mail) repeat the thread above, that is, you’ve found a request for information with no name and you want to make sure that whoever requested the information got what they needed. Sometimes, the person will say, “Well, that would have been me but I don’t remember asking for information.” No hostility, just puzzlement. Your response at that time is “As I said, this request doesn’t have a name on it so it may not have come from you.” Then you can give an abbreviated sales pitch by asking, “Are you already using (your product or service)?” A positive answer gives you the opportunity to ask if they are satisfied. A negative answer lets you ask if they would like to see information. A third response you might get would be this, “Well, that would have probably come from Anne Ada
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