Tom reveals one of the greatest prospecting tools: the Master Prospect List.
The three steps to initiate contact with prospects is to:
- Rate, rank, and create a Master Prospect List (MPL)
- Assign a relationship manager to the list
- Find the natural partners to that particular prospect
MPL is arranged in descending order of importance, not alphabetical order, and includes all prospect groups, including individuals, corporations, and foundations. The key to creating the MPL is rating and ranking the present prospects based upon the ideal prospect profile.
Once the MPL is created, it is then important to determine the order of visits, which may not necessarily be in the order of your master prospect list. The three types of investors are:
- Lead-Cos (lead commitment)
- Mo-Cos (momentum commitments)
- Co-Cos (connector commitments)
Go to the Co-cos first to build momentum and get the ball rolling, then go to the Lead-Cos that hold the potential to transform the organization, while the Co-Cos are the lower capacity prospects that can connect you to other prospects.
Related Documents: On Prospects