Best way to generate leads is to form a small group of like minded sales people and meet once a week to share leads.  Keep the group small and make sure to screen people very closely; only allowing aggressive cold callers and successful sales reps into your group that are calling on companies that are in your target base of propects.  Let everyone know that if they don't contribute leads, that they will be asked to leave your group. 
 
Another way to generate leads is to be networked into people in the community that know when change is taking place.  Look for events such as recent promotions, new office opening, offices closing, expansions, new business permits, new construction etc... Behind every event lies an opportunity and a great segway into your phone call or drop in call.  Our society is quickly changing into a group of "networks" and if you aren't plugged into it, you are sure to have a tough road to success.
 
Lastly, maybe the best way to generate leads is to ask current customers for referrals.  Get good at this and you will never have to cold call again.  Go back to existing customers and find out who they know, who they work with or who they associate with and you will find that people are willing to help you, provided you have brought value to their company. 
 
Good luck!