3. Managing and Qualifying prospects - f) Qualifying a prospect
The Development Team follows a defined process for qualifying any prospect submitted to [email protected]. This process is described below.
f) Qualify or disqualify the prospect
Based on the ranking, the Opportunity Lead will recommend the prospect to be qualified or disqualified. This recommendation will typically be informed by the Final Ranking as follows:
| Ranking | Assessment | Recommendation |
|---|---|---|
| 1-3 | Gift is likely within 12-24 months, if effectively cultivated. |
Qualified |
| 4 | A gift within 12-24 months is possible if a connection can be identified |
Qualified: for corporate or foundation prospects that accept unsolicited proposals Closed: for all others, but to be included in ongoing Board member prospect reviews and re-considered when a volunteer solicitor is found. |
| 5 | The possibility of a gift will be remote until a connection is identified and/or alignment improves. |
Closed |
i. Disqualifying a prospect
If the prospect receives a final ranking of 4 or below, they will typically be disqualified. To disqualify a prospect, the Opportunity Lead will:
- updates the opportunity stage to Closed Lost or Not Submitted (see Closed Lost stages)
- add a prospect note explaining the reason for disqualification (see Record a prospect note)
The Director of Development must be informed of any opportunities that are disqualified, but does not need to approve case by case.
ii. Qualifying a prospect
If the prospect receives a final ranking of 1-3, they will typically be qualified. The Opportunity Lead will bring forward a recommended strategy for the prospect to be brought forward to the weekly Prospecting Meeting (consisting of Development and Solutions for Social Good teams). A strategy will consist of the following elements:
- Potential gift amount
- Potential close date
- What we will likely ask for (list of best aligned programs/services)
- Identified volunteer lead
- Recommended internal lead solicitor/opportunity lead
- Specific next steps for cultivation
Input will be gathered from the broader group, with a special focus on mapping and managing existing internal relationship and maximizing both value to the donor and potential revenue to Tides Canada.
The Director of Development will provide final approval to clear all newly qualified prospects. In some cases, the Director of Development may refer prospects to the VP Development & Strategic Initiatives, or the CEO for further approval.
Once a prospect is cleared, the Opportunity Lead will:
- update the opportunity stage to Cultivation
- Update the Close Date, Amount, Volunteer Lead, Opportunity Lead fields to reflect the approved strategy
- Update the Opportunity Allocations to reflect the approved strategy
- Add tasks to the opportunity to capture any approved next steps
- Add a prospect note or final qualification brief as a record of the approved strategy