Who would have thought dialing for dollars could be so much fun? For a few bucks you could buy thousands of leads in select states with the parameters of your choosing.
To make money “chop shop” style you will need the following:
1. A telephone blocking the number on outbound calls.
2. Thick Skin
3. Male Leads (We don’t pitch the bitch.)
4. Puma Jumpsuit.
Welcome to Cold Calling 101. The sample lead above, (rendered to protect identity) is a fair representation as to how a boiler room works and the mentality of the brokers behind the high-energy phone calls. Everyday thousands of Americans are harassed at work by money-hungry brokers hopped-up on a mix of testosterone, red bull, and prescription medications.
So what are the “sharks” looking for exactly?
Currently working with Brokers: A prospect who works with multiple brokers shows that he’s not completely committed to anybody and will cut a check if he likes an idea. (He’s done this before.) Be wary of guys who use online brokerages as they don’t see the need in being told what to do. For prospects that have brokers out of state, (especially in NY) this is a clear indicator that they are receptive to doing business over the phone.
Owns Stock: Prospects that trade common stock are our type of guys! We are looking for liquidity and a gamblers mentality. If they’ve made some money on a stock they’ll usually share the ticker with you. On the sample lead above the prospect was kind enough to tell us that (NASDAQ: SLAB) Silicon Laboratories took the prize as he doubled his money on it. Reference something similar on the next call to gain trust and open the account.
Ballpark Portfolio Size: So, how much are you playing with in the market? We were looking for guys with over 100k invested in the market. In pursuit of gaining a piece of that portfolio, anything over 100k is safe to separate the piker’s from the players. In this case, our prospect has around $900,000 invested. Get your tartar sauce ready, we’ve got a whale on our hands!
Personal Info: After capturing the “meat and potatoes”, it’s now time to BS a little. So are you still making six-figures? What do you like to do in your spare time? Still chasing the ladies? At this time the prospect will lighten up and share his tales of adventure and romance. Our guy enjoys fishing for trout. (How exciting!) It’s not much, but it’s valuable information to pull out your ass on the next call.
This prospect turned into a slippery eel and got away on the follow-up call. With a healthy 5%-in, 5%-out business plan in place, the broker will always be on top. And if the stock actually goes up, more power to ‘em!
