I did a Google search for "no more cold calling" and came up with over 8 million entries - granted these are common words so I understand the implications... but it was interesting to see so many listings about why cold calling is bad, how you can never cold call again, and even............... how to be hypnotized to LIKE to cold call!
It just carries further the idea of whether to cold call or not. My theory is that referral business and business introductions ARE the way to go, whenever possible. However, when you are in a new area or territory or industry - you don't always have that option. Don't be afraid to pick up the phone, or mail that letter, and make a new contact. It is not hard, and it is not impossible to do.
Some of my greatest contacts and business relationships now came from me picking up the phone, or sending an email or writing a note to someone I admired but didn't yet know. Note that I said yet.... and now I do know them. People don't always take me seriously, and sometimes I get turned down. Initially that is.
Another strong belief of mine is that once people realize that they are a targeted prospect -- targeted by a professional -- they are much more interested in taking their valuable time to talk briefly. What I mean is that they somehow realize, through what you wrote or said, that they are not just a random name you've come up with - but someone you feel there is potential to do business with because of certain reasons. It doesn't mean that you are necessarily a great fit yet - but it does usually earn you the opportunity to talk briefly. Just be ready when that happens to be clear and concise with apparent value for the other party.
