Cold calls to generate cash flow and sales

Making cold calls is easier when the purpose of the cold call is clear and the target customer is clear.

I'm reading a book Cold Calling Techniques (That Really Work) by Stephan Schiffman. He states the purpose of the call is to simply set an appointment. It is not a sales call - unless the conversation turns that direction.

His statements:

• you'll get one-third of your sales no matter what you do
• your goal is to get an appointment
• A=P=S (appointments lead to prospects lead to sales)

I really like his script and how to get someone's attention on page 41. It's "Good morning, Mr. Jones." He writes "It's that simple. It's so simple, it's almost scary."

Here's an article on BNET titled "Five Rules for Effective Cold Calling." It's also a fairly simple list and I would couple it with Schiffman's advice.

Hmm, maybe cold calling isn't really all that hard. In fact, it's easy. Isn't that why so many people enjoy doing it?! The answer is "no, that's why sales professionals have jobs."

Get a business start up loan with no business plan

No business plan in hand? There's a way to get a business start-up loan with no business plan.

Demonstrate expertise and thorough business knowledge in the industry. Have a good credit rating and get to know the local bankers and lenders. Going to a community bank may prove most beneficial or work with a business incubator in the area.

Establish key relationships

Demonstrate past success

Have a strong credit rating

Click here to read the complete article I wrote on How to Get a Business Loan without a Business Plan.

Now, I don't recommend trying this approach but it can be possible. Also, a business plan doesn't have to be exhaustive in detail and scope. Make bullet points on key topics like:

• the purpose of the business,
• what service it offers,
• what products it will sell,
• who is the key audience,
• what are the main ways to get business
• who is the primary competition
• how much cash is needed to operate
• who will keep the books
• what type of accounting system will be used

Answering those points may be enough to serve as a simple business plan and help secure a loan.

Organizational change and cash flow

Making major organizational changes may not help cash flow if the same root problems exist.

Creating change doesn't mean the bookkeeper will balance the ledger more effectively and that cash will start rolling in the door and the CPA will give a thumbs up at the next audit. The idea that change doesn't produce desired results caught my attention today. I was reading a speech from Paul Light who gave a speech to the Citibank Board Leadership Forum in 2004. Here are the remarks that caught my attention:

"We are drowning in change right now. Hardly a moment goes by without some new idea for making your organization’s faster, leaner, smarter, meaner.

"Private companies are constantly implementing new ideas and then reporting on failed implementation. The failure rates of change are extraordinary. Seventy percent of mergers and acquisitions – no worries here at Citibank – 70% fail to measure up to the original profit and loss projections. And you’ve got TQM [Total Quality Management], which is often under-implemented, and so forth."

His remarks are published on the Web site, Center for Nonprofit Management.

Before undertaking changes, focus on the ones that will do the most to generate cash flow. This is another reason an activity like market research could be a wise strategic investment.

Click here to read: Industry Market Research and Market Intelligence

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When creating change in an organization, make sure it's strategic change and there is objective data to back up the decision-making process.