A few years ago I was chatting with one of my mentors. He was telling me about a tough conversation he had recently had with one of his veteran salespeople in the division.
The veteran’s business was down more than 25% year over year and it was becoming a problem. He was going to begin having financial difficulties if he didn’t create a turnaround soon.
After reviewing the state of his business this rep came to a wise conclusion. He told my mentor, “Man I need to get out there and start cold calling.”
My mentor told him, “No, you needed to start cold calling 2 years ago.”
I would go even further and say that he should have NEVER stopped cold calling.
Let’s go on a quick thought journey together that I promise is going to BLOW YOUR MIND.
1 cold call per day (which takes an average of 10 minutes in my industry) is a THOUSAND cold calls in just 4 years. How many quality accounts could a skilled veteran sales rep open in a thousand cold calls? I would wager it’s at LEAST 25-30. How much better off would the rep in the story have been if he had an additional 25 accounts in his stable when his business went into decline?
Would he even have experienced a “decline?”
Would the type of salesperson he had become by staying hungry have prevented a decline in the first place?
Let’s take it a level further. What if he had made just 1 cold call a day for the previous 10 years?
Thats 2,500 cold calls….in just TEN. MINUTES. PER. DAY.
This guy surely found SOMETHING to waste 10 minutes a day on…but not cold calling.
1 cold call per day would result in a minimum of 60-75 new accounts in that 10 year period, not counting referrals. Surely there would have been 10 absolute GEMS in that pile right?
Now we’re talking about going from simply “preventing a decline,” to creating an empire.
Which is more inspiring to you?
Do you fool yourself into thinking you don’t have the time to do the most important thing to grow your business? If so, you need to stop doing that.
Now go make a cold call. 🙂