How to Build a B2B Prospect List from Scratch

Build a B2B prospect list from scratch by writing down what a suitable company looks like, then checking the evidence one company at a time. The first list should be small enough that a colleague can open every source before it goes into your CRM.

1. Write the criteria a colleague could apply

Start with a service or buying context, the area you cover, and the conditions that rule a company out. Separate requirements from preferences. A pump repair shop may need to support municipal water or wastewater systems. Ten years in business could be useful, but a shorter track record might still be worth reviewing. If your offer is for service shops, a seller that only distributes equipment belongs outside the first list.

A useful research brief reads like this:

Find companies in Texas that service or repair industrial pumps for municipal water or wastewater. Prefer companies with at least ten years in business. Exclude companies that only distribute equipment or act as manufacturers’ representatives. Link to a public source for each reason a company fits. Leave ownership or tenure blank when the source does not establish it.

Use a company-level brief. Separate the question of whether a business fits from the decision about who to contact and how.

2. Search for work the company has actually done

Use a first-party service or project page to check what the company does. An industry directory or conference roster can provide leads. A public contract award, trade association case study, or project announcement can give you a second source for the market it serves. In the United States, the Census Bureau’s small-business data guide can help define a market before you research individual companies.

For a service business, compare the search result with an actual service page. “Pumps” in a website title could mean manufacturing, distribution, rentals, installation, or repair. The distinction matters if your product or partnership is built for one of those activities.

3. Keep one piece of evidence per claim

In a test of company research in Réson, a Texas pump-maintenance search returned four candidates. The useful part of the result was being able to open the source excerpts and see what was still missing. For example, Smith Pump Company’s website states its founding year and describes its water, wastewater, and industrial work. A Grapevine City Council packet names the company in a staff recommendation concerning pump repair and preventive maintenance for Public Works. The recommendation provides evidence of the service context. Current ownership and any new purchasing need are separate questions.

Write down the exact page and date you checked. If two sources disagree about a criterion, keep the discrepancy visible and leave the field unverified until you have stronger evidence. A company description, press release, and vendor recommendation can each tell you something different.

4. Keep the handoff compact

Use these columns for the first pass:

• Company and website. Prefer the company’s own domain over a directory or hosted job listing.
• Area and services. Record the coverage and type of work the sources actually describe.
• Why it fits. Give each claim an evidence excerpt or a short note and a source URL.
• Still to verify. Record unknowns such as a missing service area, acquisition status, or whether a named qualification is current.
• Review decision. Choose ready for follow-up review, needs more research, or excluded. Include the reviewer and date when you work as a team.

Review one candidate all the way through before building a larger list. If the evidence column forces you to change the brief, make that change while the list is still small.

5. Refresh the list when the criteria are working

Once a colleague can apply the same rules consistently, run the search again on a schedule that suits your sales cycle. Review new candidates against the original requirements and track which companies you excluded and why. A shortlist that stays small and well sourced is easier to keep current.

Réson’s company research in Reach checks public sources and lets you review and export a shortlist. When you’re ready to write a message, use the small-business follow-up guide. If you’re building the research into a broader marketing effort, fill out the campaign brief or choose the next step from our small-business marketing playbooks.

Want to practise tracing a claim before it goes on a shortlist? Solve Pippa Ternwick’s market puzzle and explain which detail ties the claim to the object.