What are everybody's thoughts about cold calling (for validation or sales)?

We are working to develop an application to make it easier for small businesses to start using cold calling and I was wondering whether this is the right place to get feedback? We are using cold calling in our business and realize how difficult the process is for a micro business or startup. If you have any feedback I would highly appreciate it -are you doing any cold calling and if yes what process and tools do you use and what are the results -if you are not doing any cold calling would you be interested to try? If yes, why haven't you done so far? -any other feedback? Thanks Ovi