Terms & Definitions

Lead Generator: The person who passes a qualified lead to another member in the group
Prospect: The qualified lead, or person to be contacted
Lead Recipient: The person who receives the lead from the Lead Generator
Qualified Lead: A lead in which the name of a person/business, who requires a specific service or product, is given by the Lead Generator to the Lead Recipient
Testimonial: A person speaks from personal experience about the quality of service or product provided by another person

These determining factors must occur for a lead to be categorized as a Qualified Lead:

The Lead Generator must have first-hand knowledge that there is a specific need.
The Lead Generator must tell the Prospect that he knows of a person/business that may be able to fill that specific need.
The Lead Generator gives the business card (whenever possible) of the Lead Recipient to the Prospect and lets the Prospect know to expect a call.
The Lead Generator immediately calls the Lead Recipient to pass on the contact information for the Prospect and what their specific need is. The Lead Generator should not wait until the group's next meeting to pass the lead information. This will help avoid the unfortunate situation of an anxious Prospect calling the Lead Recipient before he is prepared.
It is very important that the Lead Recipient contact the Prospect as quickly as possible. The Lead Generator has extended his or herself to provide information to the Prospect about the Lead Recipient. Since the prospect may be one of the Lead Generator's best customers, or best friends, the Lead Generator needs to be confident that this Prospect will be treated with the utmost professionalism.
The Lead Generator completes a Lead Slip and shares it with his/her LeadShare group at the very next meeting.

A tip consists of basic information without pre-qualification.
A tip does not count as a Lead because it is not specific and may not necessarily result in generation of business.
A tip may be information offered to the group as a whole because someone may benefit from the information. Example: A representative from an office moving company (the Lead Generator) may give a Qualified Lead to a Lead Recipient that Company XYZ is moving and will be requiring new office furniture for the reception area.
A tip would be when the Lead Generator elected to tell the LeadShare group that Company XYZ is moving (basic information with pre-qualification). This bit of information could result in the generation of business for someone else (e.g., a printer in the group who may want to call Company XYZ to determine if the company will require printing of new letterhead, business cards, etc.)
A tip also may be information that could lead to discounts, savings, or some other benefit in the operation of business. Example: The Lead Generator may give a tip to the group that he knows of an office supply company that is overstocked and will give a 75% discount on copy paper during the next two weeks as an unadvertised special to Chamber members only. Another example would be that Company ABC is downsizing and has five new computers with the latest software, printers, monitors, etc., that will be selling at some fantastically low price.

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