Kevin Kelly has inspired my thinking with his post on 1,000 True Fans.
The whole post sums up to one single idea: if you can touch 1,000 souls with your meaningful work and make them your diehard fans, you can make a living out of it.
Imagine this:
You need $5,000 per month for your savings, expenses, and investment.
You managed to find 1,000 true fans.
You only need each of them to spend $5 every month on your products/services.
And that translates to about 2 dimes every day!
Do you see the power of having 1,000 true fans?
The challenge is to go out and build relationship with the 1,000 people. It takes a lot of time and effort to maintain a group of 1,000 true fans. And when you do, it’s often too easy to lose them by being greedy (recommending bad products with high profit margin) and being lazy (providing low quality content/services).
The only thing to do is to consistently connect with your normal fans (readers/customers) and show them your highest quality work.
If they like it, continue to deliver and build great relationship with them.
If they don’t like it, so be it. After all, you can’t please everybody and still do something big.
My hairdresser told me that she has a customer base of about 500 people and she’s making a living just by maintaining that number of customers. Anything more takes too much time from her, anything less gives too little money for her.
Her magic number is 500.
Can you find your magic number, and keep it?
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This is a GREAT post, I truly am in love with the idea of 1000 true fans… and maybe Kevin Kelly for coining it!
It really is true, you need a small fanbase of true fans to make a killer living… My breakdown for my blog goes like this… or I guess my ‘monetization’ schedule. Instead of having ads I want to offer 3 KILLER products a year to my readership. Now obviously these products are going to have to be very kick butt but I think I can do it. I’ll offer them for around $27-37 bucks each and when I get to my 1000 true fans I will assume each of them will buy. So that means around $100,000 a year from just one blog! All you need to do is get the fans and produce enough GREAT content to keep them.
CHeers!
Hey Maren, thanks for dropping by! That’s a great business model there, just thinking about it makes me very motivated. You’ve always got some very good ideas it’s awesome.
As for myself, I definitely want to offer more Killer products for all my readers in the future. And you totally nailed it, Content is King and you can’t go anywhere without it.
Your entrepreneurial ventures are very exciting, I wish you all the best and let’s continue to build our 1000 true fans!