Prospecting is an advisor's most dreaded task. It's also the difference between success and failure.
Avoidance. Indecision. Fear. Pain. Dread.
Should you just tape these words to your desk? You know prospecting is the only way to increase your client base. You walk in every morning knowing that you have to ask people to do business with you. But prospecting is the most dreaded task of a financial advisor. It is also the difference between success and failure.
Many advisors think of prospecting as a two-part process: 1) What should I say? And 2) How many people should I call?
What should you say? Stop wasting time creating a scripted elevator speech. After you call a couple of hundred prospects, you will know what works and what doesn't. Scripts are static--experience is self-correcting.
Regarding how many prospects to call, there is no consensus. The statistics range from eight calls an hour to 300 a day. This absurd gap is polarizing and confusing.
How many prospects will you call a day? That is up to you. But none of this matters if you don't know the missing link: You have to have a list!
7 Ways to Build a Better Prospecting List
1. Personal Connections
Download this Personal Connections Worksheet and write down the name and phone number of 100 friends and acquaintances.