It always comes up.
And it’s always the same kind of humorous, crazy conversation.
It comes up when I’m helping a sales professional move their career to the next level. I’m usually involved in a coaching session that involves the question…
“What prospecting sources or initiatives should I use, Joe…which ONE is the best?”
Before I can even begin to question their question, they usually launch.
“Cause, yah know, I used to do a lot of cold calling in the field, and I made appointments, but I got real burned out on that. Then I joined a networking group but I stopped doing that after a while cause it was real time consuming. Then I bought some leads from a guy, and that worked for a while, but…”
It goes on and on.
Usually, I let them go until they’re exhausted. Their question typically winds up (in essence) sounding like this to my ears…
“Joe, can you just give me that ONE magic bullet, golden ticket prospecting source or initiative…the ONE that produces lots and lots of results for our industry? Cause that’s the ONE that I want to work!”
And it doesn’t work that way, and you KNOW it doesn’t work that way.
In this very short blog article I’m going to lay out the one prospecting source philosophy that is universal, eternal, ageless, timeless, everlasting, perpetual and undying.
ALL Spigots ON…All The Time!
It’s that simple.
In other words, if you sell stuff for a living and you plan to become wealthy, then you better have multiple prospecting sources and initiatives flowing simultaneously. This is because you never know which one will be hot and which one will become not so hot—and at what times. Simply put, you never know which spigot will yield your next sale, and the next sale after that. If you choose to depend on only ONE source or initiative, then you’re crimping your lead flow and shifting the odds way OUT of your favor.
“You better have multiple prospecting sources and initiatives flowing simultaneously. If you choose to depend on only ONE source or initiative, then you’re crimping your flow and shifting odds way OUT of your favor.”
This is what I teach in detail in my first book, The CAP Equation. This is what I learned selling those stupid $39.00 accident policies in 1978. This is what I’ve taught ever since and the philosophy has never failed me.
It’s not that I’m suggesting that you try to implement everything at once full throttle. That’s not what I’m suggesting at all. But I’m also not suggesting that it is wise to just lock in only one way of creating face to face conversations, because that is real risky.
If you want to go deeper, these are the 5 steps I would take TODAY (regarding prospecting) if I was starting my sales career or rejuvenating the personal production aspect of my business or practice:
- Build a BIG list of all possible prospecting sources and initiatives
Don’t prejudge…just get the list really robust (This will make you feel better and force you to become creative and think outside of the narrow place you’ve been in)
- Prioritize the list
Prioritize it based on your expertise and the anticipated ROI – you already have some idea of what sources will produce low hanging fruit
- Open up just 1 or 2 spigots to start
Don’t become overwhelmed or overloaded – pick the top 2 sources and then fire!
- Observe the ROI – refine and adjust
Refine your methods and adjust where you allocate your time as you move through the prospecting process
- Add other sources from your list
Methodically add (try) new sources and continue refining your methods and adjusting your focus of time on each source based on what you learn from the feedback
I’m sure you would agree that it seems illogical to lock in on only ONE prospecting source and then hope like hell that that ONE lone source gets hot and stays hot—that this ONE source yields enough to get you to the place you need to get to.
But I see it and hear it all the time.
“Hey, Joe, I know a lot of people and I’ve been in the area a while. I should be able to get up and running on referrals alone.”
I’ll ask them if they are supplementing that “referral ask” work with a few other sources or programs such as outgoing phone calls to qualified prospects, email campaigns, organized networking groups or social media exposure. Their answers are typically less insipring than what I’d expect to hear from somebody at their level of intelligence and talent.
Look, filling your pipeline is simply a math problem and if you choose to depend on ONE, or even just two sources or initiatives, it isn’t very bright.
And it doesn’t work very well.
And the salesperson that will fail to reach their stated objective.
And it’s hard to watch.
Okay. Lesson over.
Go here for ACCESS to all of the good (FREE) stuff on our site: http://www.thecapequation.com/access/
Read the first two chapters of The CAP Equation (book) for FREE:
The CAP Equation© website offers free resources for commission salespeople and sales leaders such as:
- A library of training articles: CLICK HERE for Blogs
- Audio training sessions and interviews: GO HERE for Podcasts
- Invitations to complimentary LIVE tele-seminars
Please click on the link below for FREE INSTANT ACCESS to all of this: http://www.theCAPequation.com/access/
Joe Buzzello is a nationally recognized expert on the roles of direct selling, entrepreneurialism and leadership. He has built legacy sales teams and experienced unprecedented success in individual and business-to-business markets as well as the network marketing industry. Joe has held executive level positions for Fortune 500 companies, but he has never strayed far from the art and science of selling, which he loves. In early 2014, Joe began writing, speaking, and coaching through his platform, www.joebuzzello.com and The CAP Equation©.