Getting an Expert Opinion

Two of the most important things for you to know about your niche are:

• Whether it's big enough to be profitable.
• How to get in touch with its members.

You're going to find this information from several sources as you complete future 20 minute tasks, but for now, you'll talk with an expert: a mailing list broker.

A mailing list brokerage rents out mailing lists. You can rent a list of persons who match the description of someone in your niche. Then you can mail a letter or advertisement to the names and addresses on the list. The brokerage gets its lists from many sources, such as subscribers to certain magazines. It sprinkles a few of its own addresses in the list just to make sure you only use the list for the number of times you agreed when you rented it.

You ordinarily rent at least a 1,000 or more names at a time. What you're hoping is that the broker has a list for your niche with 10,000 or more names. Don't give up if he has fewer names but don't start dancing a jig either.

The mailing list brokerage makes its money by renting you the right list which means that those who help you find the list have to know their stuff. When you call up and say, "I need a list of steel company executives who make over $100,000 a year," they'll tell you how many names are on the list and how much it will cost per name to rent the list. You're not ready to actually rent a list yet, but you will need to in the future so this is good information to have. Not only that, a good list manager will help you refine your requirements and suggest ideas that may not have occurred to you.

Your 20 Minute Task

Your task for the remainder of your 20 minutes is to go first to the Google directory listing of mailing list brokers and choose a mailing list brokerage.

Then call them and tell them you're looking for a list that targets your niche. Describe the niche. Say that you're not ready to rent the list yet but you're trying to find what's available and what it will cost to rent the list. Talk with the list broker about your needs and listen carefully to his ideas and suggestions. Make notes as you go along. When you're finished with the call, review your notes, make sure you've written everything clearly so you'll be able to understand it later, then file the results in your "Niche Characteristics" file.