FAINT
FAINT—the new definition of a qualified buyer—stands for:
Funds: Focus initially on organizations and buyers that have the financial capacity or funds to buy from you. They may not have a budget, but they have the overall financial wherewithal to spend. Sell where the money is.
Authority: Focus on finding the individuals who have the authority to make decisions on how to use funds. If the organization has the financial capacity to spend if they found something to be worthwhile, you must deal with the people who have the authority to allocate said funds.
Interest: Generate interest from the buyer in learning what's possible and how to achieve a new and better reality than the one they have today.
Need: Uncover specific needs that you can solve. They're likely to be latent—hidden beneath the surface—but they're there if you can uncover them.
Timing: Establish purchase intent and a specific timeframe for doing so. This can, of course, take a number of conversations, might involve a number of decision makers and influencers, and may take some time to do. Once you do it, however, you now have a qualified prospect and a real opportunity in your pipeline.