#29 To cold-call or not to cold-call?

Do you like to be cold-called yourself? Most of the time the answer would be no. But let say that your car has broken down in the middle of nowhere. You would probably be more than happy to get a cold-call from a mobile car repair man who could fix your car.

It all comes down to the relevance of the call. If the cold-call can fix a painful problem of your prospect, then there is no need for a categorical ban for picking up the phone.

In the field of IP, if you want to pursue cold-calling, you should carefully qualify your prospects. You have to find out that there is a need for your service. Your prospect should have some unprotected intellectual assets. No one wants an IP service for a sake of having an IP service.

When cold-calling, first thing you have to do is to create trust because you are approaching out of the blue. One of the best ways to do it is brutal honesty. “Hello John! I want to be upfront. This is a cold-call. Do you want to hang up or can I have 30 seconds?”

Usually the response is laughter because the decision-makers are disarmed by your honesty. Thirty seconds is something that most of the people will agree to. On the other hand, if they say no to you that is also fine. Not everyone is going to agree to speak with you.

If the person agrees to talk to you, you should dive straight in talking about their needs. What kind of intellectual assets they have, are they afraid of their competitors taking undue advantage of their assets and how is their outlook in business in the future.

There is a time and a place for cold-calling but it must be carefully planned and conducted with brutal honesty to be successful.

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