Parthiv Shah shares his system for growing his business using the phone to prospect.

The core system does not change. The only thing you are going to need is the list of people you need to call today and what you're going to say to them. That's all you need. So, here's the formula. You see there are two kinds of people that you're going to need; sometimes it is the same person wearing both the hats. That's okay, I have done both. There is an opener who opens the conversation and there is a closer who closes the deal or propels the transaction forward.

 It is the opener's job to schedule an appointment for the closer to talk to the prospect. The opener is going to make call after call after call. The rule is to qualify the prospect, send follow up literature and schedule an appointment for the closer to close the deal. So, here's the ritual for the opener - you want them to have three to four conversation per hour. I don't measure dials or talk time because sometimes you can have a long conversation, and nothing happens. I just look for number of conversations to be three to four conversations an hour, three to four hours per day, three to four days per week. This will get you 36 to 64 conversations per week. If you have one (or more) opener who is having 36 to 64 conversations with qualified leads who have gone to your landing page, filled out a form, raised a hand and expressed an interest in speaking with someone - they should be able to get between five and ten hits per week.

A hit is an appointment with a closer, request for literature or a commitment (or a loose commitment) from the prospect that let us call back in a week, a month, three months, six months, or a firm no – “Never ever call me, we are not a match”. That's okay too. That happens but that's a hit.

If you can get 5 to 10 hits per week, I would expect a closer to close 15 new accounts every 90 days. That is 60 new relationships a year. If you're closing 60 new deals a year and if you're not losing 60 a year or more then this particular account executive and his or her phone setter jointly are growing the portfolio by 60 new customers minus what you lost to attrition or disaster that you need to replace. That's how they grow the company and that's how the company grows.

So this basically is the formula of how you take a company from two million dollars to ten million dollars. This is how you can go from a guy with a laptop to a multi-seven-figure company by using the phone to your advantage.

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