Feras Alhlou breaks down essential sales vocabulary for new founders: the difference between leads and prospects, how to qualify them, and why consistent terminology matters when you're building a business.
Sales is even a bigger challenge than marketing, and it is the one thing I struggled with most when I was just starting out because I had zero sales experience and I had to learn from the ground up, and you can too. So understand the terms and concepts, think about how they apply to you, and put them into practice. Lead qualification, the process of determining how serious and able a lead is to get to a closed sale. Many leads aren't a good fit, so it's critical to qualify them and waste as little time as possible on the duds. Prospect. Lead and prospect are sometimes used interchangeably. In some businesses, a prospect has provided more details or shown more interest and is therefore considered more qualified. In your business, as you're starting out, My recommendation is to use one term and define that term the same way consistently.
