Lead generation is hard for startups. Budget is tight, brand awareness is zero, and you're competing with established players. Here are the 10 critical questions you must answer to generate your first 100 leads.
1. Who Is Our Ideal Lead?
Why it matters: If you target everyone, you'll attract no one.
How to define it: Create an Ideal Customer Profile (ICP):
- Demographics: Company size, industry, location, revenue
- Pain points: What problem are they desperately trying to solve?
- Budget: Can they afford your solution?
- Decision-maker: Who has the authority to buy?
Action step: Write down 3-5 companies that would be perfect customers. Find the commonalities�that's your ICP.
2. What's the Difference Between a Lead and a Prospect?
Lead: Someone who's shown interest (downloaded a guide, signed up for a webinar)
Prospect: A qualified lead who matches your ICP and has been vetted by sales
Why it matters: Don't waste time on unqualified leads. Focus on prospects who can actually buy.
3. Which Marketing Channels Should We Focus On First?
With limited budget, you can't do everything. Focus on 1-2 channels where your ICP spends time.
Best Channels for Startups:
- LinkedIn (B2B): Organic outreach, thought leadership, InMail
- SEO: Long-term play, but free traffic once it kicks in
- Content marketing: Blogs, guides, case studies (builds authority)
- Email outreach: Cold email campaigns (if done right)
- Partnerships: Co-marketing with complementary brands
Avoid: Paid ads until you've validated product-market fit. They burn cash fast.
4. How Do We Generate Leads with Zero Budget?
Free lead gen tactics that work:
- LinkedIn outreach: Send 20 personalized connection requests/day
- Guest blogging: Write for established sites in your niche
- Join communities: Reddit, Facebook groups, Slack channels where your ICP hangs out
- Create free tools: Calculators, templates, checklists (great for lead magnets)
- Host webinars: Free value = email addresses
5. How Do We Qualify Leads?
Use BANT framework:
- Budget: Can they afford it?
- Authority: Are they the decision-maker?
- Need: Do they have the problem you solve?
- Timeline: When do they need it?
If a lead checks 3/4 boxes, they're worth pursuing. Otherwise, nurture them for later.
Read more: BANT Framework Explained
6. What's the Best Way to Track Progress?
Key metrics for startups:
- Leads generated per week: Are you filling the pipeline?
- Lead-to-customer conversion rate: What % of leads become paying customers?
- Cost per lead (CPL): How much does each lead cost?
- Time to close: How long from first touch to sale?
Tool recommendation: Start with a free CRM (HubSpot, Zoho) to track everything.
7. Should We Buy Leads?
Short answer: No.
Why: Purchased leads are cold, uninterested, and rarely convert. You'll waste time and money.
Better approach: Build your own list organically through content, webinars, and outreach.
8. How Do We Nurture Leads Who Aren't Ready to Buy?
Not every lead is ready to buy today. That's fine. Nurture them.
Nurture tactics:
- Email drip campaigns: Send valuable content every 2 weeks
- Retargeting ads: Stay top-of-mind (once you have budget)
- Monthly newsletter: Share industry insights, not sales pitches
- Check-ins: "Still facing [problem]? Here's how we can help."
9. How Long Does It Take to See Results?
Realistic timeline:
- Month 1: Set up systems, define ICP, start outreach
- Month 2-3: Generate first 20-50 leads
- Month 4-6: Close first few customers, refine process
Don't expect overnight success. Lead gen is a marathon, not a sprint.
10. What's the Biggest Mistake Startups Make with Lead Gen?
Trying to do everything at once.
You can't run SEO, paid ads, email, social media, events, and partnerships simultaneously with a 2-person team.
Instead: Pick ONE channel, master it, then add another. Focus beats fragmentation.
Conclusion
Lead generation for startups is about focus, not budget. Define your ICP, choose 1-2 channels, qualify ruthlessly, and track everything. Start small, iterate fast, and scale what works.
Want to dive deeper? Read What is Lead Generation?