If you want to prospect effectively today, you’ve got to go small. You’ve got to go focused. And that means asking 10 critical questions before you spend even one precious minute chasing a prospect.
Your time is your most valuable asset. So stop giving it away to anyone and everyone. Let’s break down the 10 questions that help you identify your best prospects—the ones who deserve your attention.
1. What’s the Lifetime Value of This Prospect?
Is this a one-off deal or the start of a long-term relationship?
Does working with them unlock additional divisions, brands, or people?
If lifetime value is small—or nonexistent—you’re not building a business. You’re burning time.
2. What’s the Sales Cycle?
Every customer has a process.
Do they run an annual RFP bake-off?
Are they governed by long capital cycles?
Is their procurement process glacial?
A great opportunity at the wrong point in the cycle is still the wrong opportunity right now.
3. Can I Provide a Viable Solution?
Sounds obvious, right?
But salespeople routinely stretch what they can deliver—and it leaves everyone disappointed.
If you can’t clearly see the path to a viable solution, don’t kid yourself. Move on.
4. What’s the Downstream Revenue?
One sale should open the door to more.
Who do they sell to? Who’s in their supply chain? What partnerships could lead to additional opportunities?
A good prospect gives you revenue.
A great prospect gives you downstream revenue.
5. What’s Their Position in the Industry?
Some companies are flagships—working with them creates a halo effect that opens doors everywhere.
Others?
Well, their reputation might be… questionable. Bankruptcy problems. Leadership churn. Industry distrust.
Don’t tie yourself to a sinking ship. Your reputation rides on who you serve.
6. What’s Their Referral Potential?
Referrals aren’t luck—they’re strategy.
Can they refer you inside their own organization?
Can they refer you across their private equity network?
Do they run in circles that amplify your credibility?
Great customers don’t just buy from you—they introduce you.
7. What’s the Learning Opportunity?
Some prospects drag you backward.
Others pull you forward.
I’ve pursued customers simply because working with them would put me at the cutting edge of the industry. Sometimes the biggest value isn’t the sale—it’s the insight.
If a prospect helps you become better, that’s worth something.
8. Could Working With Them Jeopardize Another Customer?
This one’s tricky but essential.
Some industries have fierce rivalries. If you work with one, the other won’t touch you. Some giants—Walmart, Amazon, Costco—can consume so much of your capacity that they limit your ability to serve others.
If a prospect threatens your existing business, that threat needs to be evaluated honestly.
9. Do They Align With My Integrity and Standards?
You can’t afford to compromise here.
Companies with low integrity will push you on everything—price, scope, deadlines, promises. And they’ll push you downhill fast.
You are known by the company you keep.
Protect your brand. Protect your standards.
10. Can I Sleep at Night Working With Them?
This is the ultimate test.
When you close the laptop at night, do you feel good about the customers you serve?
Or are you wrestling with frustration, regret, or compromise?
Your prospects should lift you, not drain you.
