Tap into the Hidden Job Market via Cold Calls

At times during your job search, leads from advertised positions and your warm contacts will not be adequate. Instead of getting discouraged and spinning your wheels, you should implement a cold call strategy. This strategy will entail identifying 75-150 companies, bypassing the gatekeepers, conducting brief presentations, and setting up interviews. The rejection rate for cold calls is higher. However, you can quickly identify hidden opportunities using them.

Develop a list of 75-150 predominantly small and mid-sized companies. You can acquire a list from your local chamber of commerce, online newspaper publications, professional associations, and Fortune. Next visit a local library to see if you can gain access to ReferenceUSA, Hoovers, or Dun and Bradstreet. Use one of these sources and the Internet to acquire the address, phone number, number of employees, annual revenue, and senior executives for each company. Input this information into a spreadsheet or database.

To increase your chance for success, you need to develop a script. This script should include an introduction, ice breaker, purpose, responses to common objections, and next steps. An introduction can include your name and who you are in terms of creating value for companies. The ice breaker could be a simple question such as “How are you?” The purpose of your call will consist of asking for your desired outcome. For example, asking for a meeting to discuss how you can increase revenue and profit.

You should expect senior executives to tell you they are not interested or not hiring currently. Likewise, you could respond by asking, “Would you change your mind if a superstar candidate came by?” Setting up a time to meet in person or having a conversation discussing your resume are potential next steps.

Due to the economic environment, several senior executives are getting slammed by calls from job seekers, headhunters, and sales professionals. Likewise, the receptionists and administrative assistants are heavily screening calls. To bypass a gatekeeper you can call before and after normal business hours or during lunch. You can also asked to be transferred directly to the senior executives’ voicemail or use the company directory (if it exists) to dial by name.   

The senior executives you can contact will be the President, CEO, or head of the department you are interested in. For instance, if you are interested in operations, you can contact the COO. Next reach out to these individuals. Most of the time, you will have to leave a message. Your voicemail message will be similar to your script without the ice breaker, responses to common objections, and next steps. After 48 hours, call the senior executives (you did not reach initially) again. The goal is to leave up to two voicemail messages.

After the second contact, you will email your pitch to these senior executives. You can extrapolate their emails via a Google search, Jigsaw.com, and from other sources. For the senior executives you still could not reach, you will mail your pitch directly to their business addresses with “Personal and Confidential” written on the lower left corner of the envelopes.

Some senior executives you reach will be interested in what you have to offer. The goal is to schedule face-to-face meetings to discuss further. These meetings will move you one step closer to either uncovering hidden opportunities or having an opportunity created just for you. In the worst case scenario, you will ask the senior executives you reached for referrals or names of other individuals you should speak with. Your goal is to schedule 7-8+ interviews and generate 1-2+ job offers. Likewise, you may have to add more companies to accomplish this.