What is a “hot” prospect?

In this book Rain Making, Ford Harding defines a “Lead” as:
“The opportunity to talk to a prospect face-to-face about a need that has been acknowledged”.

Great definition.

It also identifies one of the big mistakes we all make
– not qualifying the lead.

In his definition, it clearly states that you have the opportunity to talk to the prospect face-to-face.
How many of us define a lead when someone somewhere intimates that they have need of our services?

A Hot Lead is

1. The opportunity to talk to a prospect face-to-face
   about a need that has been acknowledged.
2. Actually asks for the meeting with you.
3. Has budget available to spend with you
4. Is suffering enough “pain” to want to commit to a course of action
5. Has come to you based on another person’s strong recommendation
6. It’s the type of work or client which you would give your right arm to work with

This is not a Hot Lead, they are a Prospect if:

• They do not realize they need your product or services
• May not be ready to buy.
• May realize they need our services,
  but also know they can’t afford them
• May be all or part of the way down the process of buying
  from one of our competitors
• May not be able to buy from us due to a real or perceived conflict of interest
• or an intermediary has told us that someone needs our services, and we expect them to call.

So there are 2 actions.

1. Either you need to invest some more time in the relationship
   to get them in a position to “have the opportunity to talk to the prospect face-to-face”,
   or
2. The prospect can’t buy your services (for whatever reason)
   don’t waste time trying to progress the sale.