Focus Confidence Momentum

For years in my business development coaching I’ve used the idea of suspects and prospects.

Prospects are people who you know have the problem you solve, the money to pay for your services and the authority to spend that money. You’re right to invest in trying to get them to buy from you. For example you could buy them lunch as a chance to sell to them.

Suspects are people who you suspect might become a client. For example all the readers of the Globe & Mail could become clients of a lawyer but until you know they qualify like a prospect they remain a suspect. It’s worth investing only a tiny amount in each suspect. For example the cost per reader of an advertisement is quite a bit less than the cost of lunch.

In a meeting, with a client the other day, I developed the idea of the Nospect. These are people who offer no opportunity. They won’t ever be a client or referral source and should get none of your marketing investment.

One thing I always look for with my business development clients is whether they are spending too much time with suspects [and now nospects]. If they are the coaching moves to how they can spend time with genuine prospects.