This cured my fear of cold calling for GOOD!

Summary

The video script discusses the challenges of consistently making cold calls in sales, attributing the difficulty to self-worth attachment and fear of judgment. It suggests a new approach involving resetting expectations, viewing prospecting as a sorting process akin to a gumball machine, where most calls are 'red gumballs' and few are 'blue' prize opportunities. The script advocates for a 'reverse selling' method that serves the prospect rather than persuading them, and emphasizes focusing on actions rather than outcomes, using the concept of Parkinson's Law to highlight the importance of time-bound activities for effective prospecting.

Takeaways

• 😌 The difficulty in making cold calls often stems from attaching self-worth to the outcome, leading to fear of judgment and rejection.
• 🤔 A new approach to prospecting involves resetting expectations, viewing the process as sorting through red and blue gumballs, where only a few blue ones are valuable.
• 🔍 Understanding that the average opportunity in direct outbound prospecting is about 1 in 10 can help manage expectations and reduce pressure.
• 💡 Shifting focus from convincing or persuading prospects to a 'reverse selling' approach can reduce resistance and make the interaction feel more like a service.
• 📞 In reverse selling, the salesperson gently pushes away, assuming the prospect is not interested, which can lead to the prospect self-admitting their interest.
• 🏆 Focusing on actions rather than outcomes is crucial. Success should be measured by the effort put into activities like having a set number of conversations, not just the results.
• 🕒 Emphasizing time commitment or conversation goals over outcomes can help maintain a consistent and productive approach to prospecting.
• 🎯 Parkinson's Law can be applied to prospecting by limiting the time for activities, which can increase focus and productivity.
• 🌐 Recognizing that work expands to fill the time given to it, setting strict time limits for prospecting can lead to more efficient and effective results.
• 🌟 The mindset shift from focusing on outcomes to focusing on the activities that lead to those outcomes can transform the experience of cold calling into a more enjoyable and successful one.

Q & A

Why is it challenging to consistently make cold calls?

Consistency in making cold calls is difficult because many people attach their self-worth to the outcome of the calls. They worry about how they will feel, how they will be judged, and the potential negative reactions from others, which can lead to avoidance and inconsistency.

What is the gumball machine analogy used to explain prospecting?

The gumball machine analogy describes prospecting as a process of sorting through many red gumballs (unsuccessful prospects) to find the rare blue gumball (successful prospect). It helps to reset expectations by illustrating that not every call will lead to a successful outcome.

What is the average opportunity rate in direct outbound prospecting according to the speaker?

The speaker states that the average opportunity rate in direct outbound prospecting is about 10, meaning that out of a hundred people you talk to, only about 10 are real opportunities.

How does resetting expectations help in the process of prospecting?

Resetting expectations helps by allowing the prospector to understand that not every conversation will lead to a successful outcome. This mindset helps to avoid forcing every prospect to be a 'blue gumball' and instead focuses on sorting through the 'red gumballs' to find the real opportunities.

What is the concept of 'reverse selling methodology' mentioned in the script?

Reverse selling methodology involves selling against your own interest. It aims to remove sales resistance by approaching the prospect from a service-oriented perspective, making the prospect feel that the call is for their benefit rather than the salesperson's.

Why does the speaker suggest changing the approach from persuasion to service in cold calls?

Changing the approach to service helps to lower the perception of bias and resistance from the prospect. It makes the call feel more like an act of service rather than a sales pitch, which can be more effective in engaging the prospect.

What is the significance of focusing on actions rather than outcomes in cold calling?

Focusing on actions rather than outcomes allows the caller to concentrate on the process and behavior that they can control, such as the number of conversations they have each day. This approach helps to avoid the disappointment of not achieving a specific outcome and instead focuses on the activity that leads to those outcomes.

How does the speaker use Parkinson's Law to improve the effectiveness of cold calling?

Parkinson's Law states that work expands to the time we give it. By limiting the amount of time dedicated to cold calling, the speaker suggests that the focus narrows, leading to more efficient and effective prospecting.

What is the speaker's advice on how to build the habit of daily prospecting?

The speaker suggests focusing on the activity of prospecting for a set amount of time each day, such as two and a half hours. By attaching success to accomplishing this activity, the outcomes, like leads and appointments, will naturally follow.

How can the mindset of cold calling be improved to make it more enjoyable and effective?

The mindset can be improved by resetting expectations, focusing on actions rather than outcomes, and adopting a service-oriented approach in cold calls. This can help to reduce the pressure and make the process more enjoyable and effective.