• How many calls do I need to make to generate one prospect?
• How many prospects does it take to generate one sale?
• How long will each prospecting or cold-calling effort take?
• How much time do I need to devote to new business development every day?
• How many sales do I need each month to attain my year-end financial goals?

If you don't know the answers to these essential questions, that's perfectly fine. Because by the end of this article you will.

As you go through this formula, you may come across some questions that you don't know the answer to. This is perfectly normal, especially if you are new to sales or have never been exposed to these questions. Realize that if you do not have the answer to some of these questions, it may require doing some conscious tracking of your cold-calling efforts before you are able to accurately answer them.

Before you attempt to complete this formula, you must have a specific prospecting activity in mind. Since each prospecting activity is going to generate a different number of prospects within a certain amount of time, you must therefore create a separate formula for each prospecting activity you take on.