The Seven Myths of Prospect Research
Why avoid the Seven Myths? Cheaply Effectively Efficiently Strategically Accurately Productively Calmly
Myth 1 - Research comes first
Cultivation Cycle 1. Research 2. Plan 3. Cultivate 4. Involve 5. Ask 6. Thank 7. Steward
Cultivation Cycle 1. Identify 2. Plan 3. Cultivate 4. Involve 5. Ask 6. Thank 7. Steward Research
Myth 2 – It’s all about the wealthy
It’s not just about money Expertise Influence – ‘Address book’ Venue Company resources
Myth 3 – Research costs money
The web is free Search engines Weblogs Discussion groups Online newspaper archives Prospect research sites
Libraries are free Books Biographies Reference books Resources Numerous databases available (knowUK, Who’s Who, MINT, FAME. NewsUK, etc.)
Westminster library
Myth 4 – Find out everything you can
You cannot find out everything… Salary/wealth Business information Electoral roll/directory enquiries Directors’ home addresses Property registration
…but you do not need to. A profile is not a biography Affinity not life-story Relevant Focussed Insider information But beware gossip
Myth 5 – Your manager ‘gets research’
Remember… You cannot find out everything Some resources are expensive Research is not a production line Keep your manager updated!
Myth 6 – I know how to search the net
Google Nancy Blachman’s Googleguide.com Foreign Google sites Google Books Google Scholar Staggernation.com Google News Archive Logoogle.com
Just what are the best search engines?
Myth 7 – The Sunday Times Rich List
How comprehensive? “This year there were 500 people or families in the rich list worth over £100 million. I reckon…that there are at least another 500 worth £100 million who are missing.” Philip Beresford, April 2005
How accurate? Sri & Gopi Hinduja (£6bn), David Khalili (£6bn), Jim Ratclife (£3.3bn), Simon Halabi (£3bn), Eugene Shvidler (£1.3bn), David Ross (£900m), Vincent & Robert Tchenguiz (£850m), Robert kauffman (£800m), Peter Cullum (£700m), Lev Chernoi (£620m), Bruce Gordon (£480m), Paul Kemsley, Aneel Mussarat, Nabeel Mussarat Chowdery, Pervaiz Naviede, Kevin Linfoot, Leon Max, Nick Denton, Andrew Tinker and William Stobart (all £100m+).
How accurate? “You never know how much a man is worth until you know how much he owes” Roland "Tiny" Rowland
How relevant? April 2008, Viscount Petersham ‘worth’ £250m (STRL) Oct 2008, Viscount Petersham ‘worth’ £40m (Estates Gazette)
Donation history Donations to political parties NSPCC Full Stop Patrons Major Donor lists on websites & annual reports Newspaper archives Check with your other prospects
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