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The Definitive Prospecting Thread

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workinhard View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote workinhard Quote  Post ReplyReply Direct Link To This Post Posted: Oct/07/2010 at 1:58pm
Great stuff.  I know I'm late to the party, but what an awesome thread!
 
The only thing I'd like to add (although I'm not seasoned and successful yet) is to drip.  If you have STRONG REASON to believe that you caught someone at a bad time, or they are a whale, or whatever, take the 5 minutes each month to send them something.  I talked to a guy six months ago, that had some interest in my offer, but it wasn't a good time.
 
Last night I emailed him a product I thought he might have some interest in (has to be purchased by next Friday) along with a Free IRA offer.  We talked for a half hour this morning, he's currently filling out ACAT forms.
 
$100k... for the first ticket.  In about a month, we'll have a follow up meeting and I'll see what else is there.
 
Full disclosure though, I don't drip on everyone that I speak with.  I'm pretty selective with who I take the time to keep in the pipeline.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Oct/26/2010 at 7:58am
On the subject of bonds, I am starting to see capitulation in the CD crowd. They are sick of seeing the awful rates at the banks. For those of us that still need new business this is an unbelievable opportunity. The CD's are coming due, especially the 2-3 year ones that people bought out of fear during the meltdown. Get on the phone and start talking to people about it...
I sort of give a fuck.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chief Quote  Post ReplyReply Direct Link To This Post Posted: Oct/27/2010 at 10:26pm
Has anyone ever used the pitch by Nick Murray.. Seems it would work for indy advisors...something about " Looking for X number of family to join my practice with a portfolio larger than $250K"
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Nov/02/2010 at 9:59pm
I tried it for a day. It worked no better or worse than anything else. I got some good leads and one is a client now but it was sheer numbers and had nothing to do with the pitch I just caught him at the right time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MacCO Quote  Post ReplyReply Direct Link To This Post Posted: Jul/23/2012 at 2:42pm
Originally posted by SometimesNowhere SometimesNowhere wrote:

That's it. There are some really smart and successful people on this board who have more success over more time than I have, and I hope they add to this. Don't kid yourself, though. The only thing that really works is doing your job, not going to motivational seminars, not Prospecting threads on some piker registered representative forum, not a dozen books on selling, not watching Wall Street over and over again...just talking to people...so shut your fucking mouth and do it.



Great post, and the paragraph above is the bottom line.  Yes, you can dip your toes into various other marketing methods, but if you're not talking with people, face to face or on the phone, almost everything else is avoidance behavior.  If you're going to read a book or lick stamps or plan a seminar, fine, do it during off hours.

.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jokerthief Quote  Post ReplyReply Direct Link To This Post Posted: Sep/28/2012 at 11:52am
How do you guys do cold calling?  Where do you get the lists?  I thought the do-not-call list killed cold calling.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newregrep Quote  Post ReplyReply Direct Link To This Post Posted: Sep/28/2012 at 12:35pm
how the hell did I miss this??  epic thread.
Helado for Prez
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Skywalker Quote  Post ReplyReply Direct Link To This Post Posted: Jul/24/2014 at 7:10am
Thank you!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wilko Quote  Post ReplyReply Direct Link To This Post Posted: Jan/06/2015 at 12:34pm
Interesting thread. I agree that it's not so important what you say but rather how you say it. With confidence, conviction and in a relaxed manner.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike Damone Quote  Post ReplyReply Direct Link To This Post Posted: Jan/06/2015 at 12:53pm
This thread is over 4 years old and I'm seeing it for the first time.  What the hell is wrong with me?  Rookies, you print out SN's post.
"Sorry about the mayonnaise, guys."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote beachedWHALE Quote  Post ReplyReply Direct Link To This Post Posted: Jan/06/2015 at 1:27pm
Hey SN - thanks for taking the time to do this. Much appreciated! 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SmallDave Quote  Post ReplyReply Direct Link To This Post Posted: Jan/06/2015 at 1:34pm
I agree, great to hear someone who believed strongly enough to share their experience
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Post Options Post Options   Thanks (0) Thanks(0)   Quote apac707 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/06/2015 at 4:16pm
Thanks for the post, this is helpful!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Logan Five Quote  Post ReplyReply Direct Link To This Post Posted: May/03/2015 at 12:14am

I can't believe I didn't come upon this thread earlier, it has nuggets of truth that SN was kind enough to share with us.

It makes me want to get out there and talk to prospects after I pass my exams.


Edited by Logan Five - May/03/2015 at 12:18am
Self Concept Is Destiny
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Sportsfreak View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sportsfreak Quote  Post ReplyReply Direct Link To This Post Posted: May/03/2015 at 9:49am
Me too
Sorry MINT, SF is right, I was wrong......Helado...March 8th, 2014
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BillyGoat Quote  Post ReplyReply Direct Link To This Post Posted: Jul/16/2015 at 8:45am
Awesome post Sir! Small talk is one of the things I sometimes have trouble with. I've found, for others with the same issue, that if you focus networking activities on areas you have a passion for the small talk becomes very easy and enjoyable making the transition to "needs" discussions easier.   I've used Meetup.com to find groups that I have a lot of common interests with.
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MacCO View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MacCO Quote  Post ReplyReply Direct Link To This Post Posted: Jul/17/2015 at 11:32am
Originally posted by BillyGoat BillyGoat wrote:

Awesome post Sir! Small talk is one of the things I sometimes have trouble with. I've found, for others with the same issue, that if you focus networking activities on areas you have a passion for the small talk becomes very easy and enjoyable making the transition to "needs" discussions easier.   I've used Meetup.com to find groups that I have a lot of common interests with.
Bizarre, I just stumbled on to Meetup.com this morning before seeing your post.  I'll probably test drive a couple of groups.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote DKOfTFC Quote  Post ReplyReply Direct Link To This Post Posted: Jan/16/2017 at 2:01pm
Originally posted by MacCO MacCO wrote:

Originally posted by BillyGoat BillyGoat wrote:

Awesome post Sir! Small talk is one of the things I sometimes have trouble with. I've found, for others with the same issue, that if you focus networking activities on areas you have a passion for the small talk becomes very easy and enjoyable making the transition to "needs" discussions easier.   I've used Meetup.com to find groups that I have a lot of common interests with.
Bizarre, I just stumbled on to Meetup.com this morning before seeing your post.  I'll probably test drive a couple of groups.



I  myself have been looking at MeetUp.  Maybe a dumb question, but as you mentioned you have looked for groups that you have common interests in, what types of things have you found?

Is this pure Business (Small Business) Owners, or things like hobbies etc.  I'm just curious what mix has produced well for you.

Thanks !
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Omar View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Omar Quote  Post ReplyReply Direct Link To This Post Posted: Jan/17/2017 at 9:02am
Nice post.  One thing I'll add regarding family.
I had never asked to manage any of my family member's investments.  Last year however, I had an Uncle and Aunt approach me on a summer vacation we had together.  Turns out they were perfect prospects.  About $1 million in investments and approaching retirement.  They had Social Security and Pension decisions to make.  They knew I was an Advisor, but respected that I never pushed them on becoming clients.  Long story short, I was able to give them really good advice and after a short period of time they transferred all of their accounts to me.  They did this because they respected what I could offer and felt safe with me.  No sales talk, just straight advice.
You see after you are established and don't sound like a car salesman, some people who you would not approach before will come to you when they are ready.  This really is a long term business and being great at "relationships" is key.  Be confident, tell people what you really think and leave it at that.  It takes longer but you'll build your business the right way.
The game is out there. Either play or get played.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Omar Quote  Post ReplyReply Direct Link To This Post Posted: Jan/17/2017 at 9:04am
Regarding Nick Murray, I'm a subscriber.  Not for prospecting methods, but his monthly newsletter keeps me on track.  His focus on what's important when looking for new clients is advice I greatly appreciate.  He is very good at helping you make sure you talk about the right things when it comes to relationships.  Money well spent. 
The game is out there. Either play or get played.
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