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Leads are prospective customers while lead generation is the process used to get prospects (leads).
Hi @nycdesigner,
A lead is a contact or a company who are interested in your products and services and whose contact data you have (email or phone). Lead generation is the process of filling your database with these contacts or companies so you can follow-up with them.
You might find these resources helpful:
Lead Generation: A Beginner’s Guide to Generating Business Leads the Inbound Way
Hope this helps!