The pipeline looks promising—until it doesn’t. Sales targets fall short, growth plateaus, and teams scramble to chase leads. The culprit? Often, it’s the absence of a clear, structured prospect list.

Our recent market research, The Strategic Engagement Index, reveals that 55% of companies have yet to document a formal prospect list. This isn’t just a minor oversight—it’s a fundamental gap in business strategy. Without a structured list, every outreach is a shot in the dark, and every sale feels like a stroke of luck.

But the solution isn’t complicated. It starts with taking a deliberate, strategic approach to prospecting—one that eliminates the guesswork and turns potential opportunities into real, meaningful business relationships.

The Cost of Operating Without a Prospect List Off

If your business is operating without a structured prospect list, you’re relying on chance instead of choice. Here’s what that looks like in practice:

• Unpredictable Revenue – Some months are strong, others are weak. 

• Wasted Time – Endless hours spent chasing the wrong leads and sending emails that go nowhere.

• Missed Opportunities – The best prospects are the ones who align with your services.  And they often go unnoticed because there’s no system for keeping them front and center.

• Lack of Focus – When every potential lead is treated the same, time and energy are spread too thin. 

The solution? A structured prospect list that ensures your outreach is targeted, strategic, and effective.

Why Companies Struggle to Build a Solid Prospect List

If building a structured prospect list is so critical, why do nearly half of companies still operate without one? The reality is that many businesses face obstacles that prevent them from creating and maintaining a strategic list.

We asked business leaders what most interferes with their ability to build and sustain relationships with key business contacts. Here’s what they said:

1. Time Constraints (53%)

Many companies become consumed with immediate sales and daily operations, leaving no time to cultivate long-term relationships. But sustainable growth requires a forward-looking pipeline. 

2. Maintaining Consistency in Interactions (40%)

A prospect list isn’t just about names—it’s about engagement. Many companies struggle to keep in touch with their contacts on a regular basis.

3. Inconsistent Communication (35%)

Even when companies make an effort to reach out to prospects, the messaging isn’t always consistent. Different team members may be engaging contacts in different ways, or messaging may change too frequently, leading to confusion and missed opportunities. 

4. Communication Issues (34%)

Whether it’s not knowing what to say, how often to follow up, or feeling uncomfortable reaching out, many companies hesitate to engage their prospects effectively. As a result, connections go cold, and valuable leads fall through the cracks.

5. Employee Turnover at Their Company (33%)

Building and maintaining a prospect list demands ownership. When no one is responsible for keeping it updated, the list quickly becomes outdated and irrelevant. Additionally, if key employees leave, their relationships and knowledge often leave with them.

Start Building Your List

It’s time to start building your actual list. The goal here isn’t to gather as many names as possible, it’s to be strategic and intentional about who you include.

Here’s how to get started:

Define Your Right-Fit Clients

Start by identifying the key characteristics of your ideal clients:

• Industry: What industries best align with your services?

• Company Size: What is the typical size of companies you serve?

• Decision-Makers: Who makes the purchasing decision? What is their title?

• Revenue Impact: If you close this client, would they be worth 5-10% of your annual revenue?

Analyze Current Clients and Partners

Look at your most successful client relationships and find patterns.

Use this information to create a "lookalike" model for new prospects​.

Search Your Existing Network

Review your CRM, LinkedIn, and contact lists for people who fit the description you’ve created. 

Add them to your prospect list, which we refer to as a Dream 25 List—a targeted list of high-value prospects.

Use Digital Tools for Expansion

Platforms like LinkedIn Sales Navigator can help find more prospects matching your criteria.

Gather more than 25 names initially, as some will be ruled out upon deeper review​.

Find the Right Contact at Each Company

Identify the actual decision-maker, not just the company name.

Verify their role through multiple sources before adding them to your list. These individuals already have some level of familiarity with your business, making them warmer leads than a cold outreach. 

Now You’re Ready to Engage

With your structured prospect list in place, you’ve taken a critical step toward predictable, relationship-driven growth. No more scrambling to find the right people or wasting time on unqualified leads—now, you have a clear roadmap of high-value prospects who are worth your time and attention.

But a list alone isn’t enough. The next step is planning how to engage these contacts in a meaningful way.

How will you introduce yourself or re-establish a connection?

What value can you offer before making an ask?

How will you stay top of mind and build trust over time?

Now is the time to develop a strategy for outreach, follow-ups, and relationship-building that turns your list into real opportunities.

By investing in intentional engagement, you’ll ensure that your pipeline isn’t just full—it’s active, responsive, and moving prospects toward a genuine business relationship.

Five Questions Every Business Leader Should Ask Now

Now that you have the foundation for a structured prospect list, take a moment to reflect. The right list is not just about names, it’s about strategic, intentional connections that will drive your business forward.

Ask yourself these five critical questions to ensure you’re set up for success:

Are we targeting the right prospects, or are we still casting too wide a net?

• Have you clearly defined your right-fit clients, or is your list filled with random names that may not be the best long-term fit?

Do we have a clear process for keeping our prospect list up to date?

• Who is responsible for maintaining the list? How often will it be reviewed and refined?

How will we approach outreach in a way that builds relationships instead of just pushing sales?

• Are you focused on providing value first, or is your outreach centered around making a sale as quickly as possible?

Are we leveraging our existing network before chasing new leads?

• Have you tapped into past clients, referral partners, and strategic connections who could accelerate your prospecting efforts?

What’s our plan for nurturing these prospects over time?

• How will you engage these contacts consistently, so they stay warm and receptive when the time is right?

Your Next Move: If you can’t confidently answer these questions, now is the time to sit down with your team and create a real strategy for engagement.

Ready to take the next step? Join us for an upcoming Q&A session where we’ll discuss the best ways to nurture and convert your new prospect list into long-term clients.