The wealthiest names on your list are not necessarily the most qualified prospects. A truly qualified prospect for your organization has both wealth (financial capacity) AND a relationship with your cause. Here’s the really important point: They musthave BOTH (to some degree).
Too many organizations are trying to figure out how to bend and twist a case for a prospect
with the highest capacity (and very little connection to cause).
Example: Imagine you are an organization impacting cancer.
Prospect #1: A really visible billionaire located in your city. This billionaire gives primarily to his or her alma mater and the arts.
Prospect #2: More modest capacity (could make a six or seven-figure commitment). Located in a different city and has had two siblings directly impacted by a type of cancer your organization works on.
Prospect #2 is wayyyyy more qualified than Prospect #1.
Quality dictates priority and focus. Focus on your most QUALIFIED prospects
A truly qualified prospect will also help you find five more great prospects
I’m absolutely stunned, amazed and flabbergasted that so very few organizations and sales teams actually take the time to define their ‘IDEAL PROSPECT’! (This is just as true in the ‘FOR PROFIT’ world as it is in the ‘NOT FOR PROFIT’ sector.)
The IDEAL PROFILE is one of the most powerful TOOLS that we use during our IDENTIFICATION PROCESS.
Don’t blow by this one. It has created many, many ‘MILLION DOLLAR’ prospects and INVESTORS.
Here’s the concept:
If you can actually come up with a PROFILE of your BEST PROSPECT/ INVESTOR then you simply have to MATCH this IDEAL PROFILE with REAL PEOPLE!
In essence, this IDEAL PROFILE would be a simple ‘list’ of absolute best characteristics of your PERFECT (IDEAL) PROSPECT that should include examples of how we know the following:
Unlimited Capacity (Or Capacity to Make a ‘Major Gift’) ex. Have multiple homes in expensive zip codes, Recently sold a business, Could drive a Ferrari, but drives a Tesla, etc.
Relationship To The Cause (Kids, Education, Health Care, Cancer, Workforce Development, Disadvantaged Populations, Etc.) ex. A Cancer Survivor or Spouse/Loved One of a Survivor
Geographically Connected ex. Someone who may not live in your Community, but who has strong roots or ties
Interest/Connection To The Priorities, Programs Or Projects
Philanthropic ex. Has given significantly to other organizations, especially those working on the same cause
Note: You can come up with more than one ‘ideal’ profile. For example, for a Campaign, for a transformational gift, for a legacy commitment, for President’s circle etc.