Three Easy Steps to Prioritize your Sales Leads Eric M. Williams You can't buy more time no matter how wealthy you become. However, you can become wealthy by managing your time more wisely. Properly prioritizing and managing your sales leads is one of the easiest ways to gain control of your valuable time and start generating more wealth for you and your firm. There are three basic steps to prioritizing and managing your sales leads. The first step is to create an automatic system to stay in contact with leads that are not ready to purchase now (let's assume they actually want your product and that they can pay for your product). Start by creating a monthly fishing file for each lead (file folder or electronic to-do list). Next, assign a specific day each month to dip your fishing pole into the fishing file. When you go fishing (contacting the leads from your fishing file), make it your goal to obtain additional information by asking leading questions. Finally, make a decision to move the fishing file forward to the next month or place the lead information in a dead file. The second step is to determine the fit between your firm and the size of the project. You can't catch a great white shark with 20lb test line. If you have no experience, skills or expertise with specific types of projects, consider forming a project specific syndicate; defined as "an association of people or firms authorized to transact specific business". In other words, share the risk (much like bankers and insurers) with other "specialist participants" if the project is worth pursuing by you are not the perfect resource for the lead/prospect/project. Make a decision to move the fishing file forward to the next month based on size of the project and the fit for your firm. In the alternative, create a syndicate and bring additional specialized parties and resources to the table so you don't waste time and money trying reel in a whale with 20lb test line. The third step is to determine profit potential for each lead. Profit is defined as "the return received on a business undertaking after all operating expenses have been met". Every lead yields a different opportunity for profit potential. Quickly determine which leads and projects yield the highest profits. Wealth is created through profits and not sales volume. Profits, not volume, put dinner on the table for you, your family, your employees and your firm. Prioritize the most profitable projects and leads by moving them forward in your fishing file. Place all the rest in a dead file. Follow these steps to maximize your time, your profits and your life. Try thinking about and applying these three steps for the next 30 days. If you think I am wrong at the end of 30 days, then go back to you own system.