Almost all the information you gather about prospects, even the trivial, may prove helpful at some time during the sales process.
Researching on the Internet is a quick and easy way to locate readily available information about prospects. You can also gather information with a trip to your local library. If you are not familiar with the library's business reference section, ask a librarian to show you what is available. Often your library has lists of local businesses and other local information that are not available for sale.
The following reference materials are available at most public libraries. Some of this information is also available on the Internet.
Annual Reports and 10Ks
These are documents issued by publicly held companies that contain financial information, names of key executives and information about products, services and business strategies.Business Guides
Dun & Bradstreet, Moody's, and Standard & Poors publish business guides containing information about industries and companies. Even if your prospects are not public companies and are not included in these guides, you may gain valuable industry information from them.Business Periodicals Index
This guide is organized by subject and lists articles found in more than 175 periodicals.Electronic Databases
Many libraries have electronic databases. If you're not familiar with them, ask a librarian to show you how to find information.Trade Association Directories
These publications provide information on trade associations, professional associations and labor unions - organizations that are valuable sources of industry and company information.Government Publications
You may find some government publications on library shelves. If not, ask a librarian about how to contact local, state and federal government offices for information.Business Journals and Newspapers
Daily and weekly newspapers cover local news stories and may cover small businesses not noted in other reference materials. National newspapers will cover larger companies and business and industry trends.Trade Journals and Specialty Publications
Trade journals focus on an industry or market, such as financial services, training, or computer services. Specialty publications focus on a defined market such as cat lovers, sports enthusiasts, or crafters. Articles in these publications often offer the most focused, in-depth coverage of an industry or special interest.
If you happen to live near a university or college that has a business school, their libraries often have extensive business-related reference sections. Most university and college libraries allow some public access to their materials, especially if they are state-supported schools. In fact, state-supported schools will have on file many state government documents that are not available elsewhere.
