Happy Monday, everyone. I thought it I would take an opportunity to post an excerpt of NOZA's highly valuable training tool, the Prospect Research Workbook. I get a lot of people asking me what prospect research is- and I always send them a link to this great resource. With 13 chapters, including topics such as Tips & Tricks- Prospect Research on a Budget and Prospect Data Management, this workbook will have you on your way to developing a prospect research program that suits your nonprofit's direct needs.

Check out the following excerpt from Prospect Research Defined, and to read the entire chapter or whole workbook go to www.nozasearch.com.

The workbook is also downloadable as a PDF- so you can save it on your computer!

Jacqui Higgins
NOZA


Prospect Research Defined

What exactly IS Prospect Research?

• Prospect Research is defined as the process of identifying, reviewing and profiling prospective donors. It is the investigation of a prospect or donor’s philanthropic, financial and family history in order to gain essential information before a strategic and appropriate solicitation can be made.
• Researching a prospect’s biographical, career, financial and family background, as well as any philanthropic history and personal interests, will help you to find out more about your prospects so that you can develop a thoughtful, authentic and eventually philanthropic relationship with them.
• The goal of prospect research is two-fold: to identify prospects that have the inclination and the capacity to invest in your organization and to best determine whom to ask, how much to ask for, when to ask and how to ask.
• Prospect research is not merely a support role. It is an essential part of the development cycle. It empowers fundraisers by supplying them with the information required to approach prospective donors for financial or other types of support. Research allows them to develop a smart approach strategy and to make the appropriate ask. It is crucial to remember that prospect research together with the anecdotal and personal information that is learned through the cultivation process is how a successful solicitation strategy is formed.