January 25, 2011
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What’s the difference between a prospective client and someone who’s just a suspect? An advisor I recently spoke to gave me the answer.
This advisor recently became president of the local alumni association of the business school he attended – and he told me how enthused he was about having 200 prospective clients from among the graduates of this school.
My answer was that, while the members of his alumni association were suspects, I wasn’t sure whether they were prospects … or at least not as of yet.
As an aside, this advisor is far from atypical – many advisors count everyone with whom they come in casual contact as a prospect.
Three qualities that make up prospects
Three qualities define a prospect.
First, you’ve qualified them as meeting your criteria for being a client, even at a very general level – no matter what those might be. Sometimes the kind of work they do, the school they attended, where they live or activities they participate in are sufficient to qualify them, other times you have to dig deeper.
Second, they have to know you’re interested in working together. You might have played golf with someone every Saturday for ten years, but if he or she doesn’t know you’re interested in having them as client, then they’re not truly a prospect.
Finally – and most challenging – they have to shown some level of interest in hearing from you, even a low level.
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