Please post any questions you may have regarding training modules on the Forum.

The Key to Direct Marketing
As you should now be aware, you will generate business as a consultant through both direct marketing and networking.  For the average broker, this is about a 50-50 mix.  That is, 50% of your business will be the result of networking and 50% will be the result of direct marketing.  You cannot do either effectively without understanding "lists".

Types of Lists
You should be aware of the different types of lists you may be using.  These will include:

• Your "Compiled List".  This list is your most important list when you first begin your business.  It is the result of your research and to some extent, your networking efforts.  Compiled lists can be lists you create from internet research.  For example, you might use a Search Engine such as GOOGLE to display the results of a search for "Directory Commercial Janitorial Services Chicago".  Such a search will yield hundreds of names of companies in the business of cleaning commercial businesses and invoicing for their services. 
  
  From the standpoint of building the list, you will print the directories, then do searches on each company to see if they have a website, gather information from the site such as the owner's name, address, and most importantly, an email address.  This information you will add to your database management system and to your email marketing system if separate, such as Constant Contact.

• Your "Response List".  Response lists are made up of those people that have responded to your "offer".  This will include business owners included in your Compiled List that received an email or letter from you and subsequently visited your website to request a copy of your offer, "The Small Business Guide to Factoring".  They have "responded" to your offer.  Your Response List is your "Money List".  By definition, it only contains those people interested at some level in your services. 

• Your "E-Lists".  E-lists are made up of those that have requested through your website or through some other contact to be included in your emails.  Those on your E-List will receive your monthly newsletter and other periodic bulletins.  Generally, all members of your E-List are also members of your Response List.

• Your "House List".  House list is made up of your clients.

• Your "Databank Lists".  Databank lists are list you purchase from list brokers.  They are demographically derived.  For example, you might purchase a list of 1,000 manufacturers and distributors in the Dallas / Ft. Worth area.  When you order the list, you will request the business owner's name, company address, phone number, web site, and email address.  Databank Lists are moderately expensive.  Expect to pay $200 or so for 1,000 names.  They are beneficial when you are first beginning your business and have yet to build a Compiled List of any significance.

List Quality    
List quality is a primary component to your success.  "Garbage Lists" lead to "Garbage Results".  Avoid entering names into your database manager just for the sake of entering them.  First, do some research and "sleuth" out as much data as possible about the business.  For example, look up the company in the UCC (if a FREE search in the state) and see if they are currently financing with a bank or other lender.  GOOGLE the company name.  If companies have just been awarded a large government contract, this information is usually public and you may find a large contract awarded which will give you an excellent excuse to cold call the owner.

Lists and Your Website
Your website is a valuable tool in building your lists and especially your "Money List".  Make certain you use every opportunity to send both prospects and referral sources to your website where they can request your FREE booklet or a report on small business finance.  This is how you build your Response List and that's where you derive clients.  Pass out business cards at networking meetings.  When those you meet ask what you do for a living, explain briefly, get their card, and let them know you will send them a FREE PDF booklet on Alternative Commercial Finance.  Use an email service such as Constant Contact to deliver the booklet.  They can then request to be added to your mailing list.  When they respond and request to be added, they will automatically be added to your "Response List" that you set up Constant Contact.  We will talk more about email marketing and Constant Contact in Week 18.

How Large Should My Lists Be?
Your ability to build lists will certainly be a function of the time you donate to the business.  For part-time intermediaries, lists may not contain more than 500 to 1,000 entries after the first year.  Full time consultants should have several times that and in fact, may have well over 10,000 records after several years of work Adding 300-500 names to a list each month is relatively easy.  Because of these numbers, you must utilize a database manager of some kind.  The numbers are simply too great to manage effectively any other way.