7 days into cold outbound: 31% opens, 0 replies. Is it me or is this normal?

Running our first cold email campaign for a B2B SaaS I'm building. One warm inbox, 10 emails/day to verified hotel GMs and Directors of Revenue.

After 60 emails the numbers are:

• 31% open rate

• 2% click rate

• 0% reply rate

Everyone tells me 0 replies at 60 emails is normal for B2B and I should wait until day 21 at 300 emails to diagnose. But the founder brain keeps asking "is the copy broken" every time I check the dashboard.

Three questions for other makers who've done cold outbound:

1. What's your actual reply rate at the 300-email mark?

2. When did you first see replies start coming in?

3. What's the first thing you'd troubleshoot if replies were still zero at 200 emails?

Would love the uncomfortable honest answers, not the motivational ones.