Achieving success as a creator or in many other endeavors (especially within the digital field, but is also equally applicable to other high ticket businesses) doesn’t necessarily require an audience of millions. Though many of the online ‘gurus’ may tell you that it does.
Kevin Kelly spoke about this in 2008 and the concept was further popularized by esteemed marketer Seth Godin among many others.
The concept of ‘1000 true fans’ has also been talked about in a range of different mediums and sources and proliferated among hundreds of Blogs. Like many concepts that garner such traction, there are a million routes up to the summit of the mountain, and today I only humbly present what is but my own take and experience adding to the conversation.
But I do know this. You don't need a fortune, a massive customer base, or a huge fan following in order to make a living doing what you love. What truly matters for a craftsperson, photographer, musician, designer, author, animator, app developer, entrepreneur, coach, content creator or inventor, is cultivating a dedicated group of a few hundred, or as we are talking about - a thousand true fans who desire and buy into whatever it is that you are selling.
Of course it all depends on exactly what you are creating as well, the size of the available market pool and the price of your product or services. But one thing is for certain, a thousand dedicated followers will get your further than a million disinterested ones ever will.
But what is a true fan anyway and how exactly do we go about cultivating them?
To me, I prefer to use the term ‘avid supporter’ as really that is also the nucleus of anybody who has chosen to buy into your brand vision or message anyway, but referring back for the focus on remuneration for products and or services, we are talking about anyone who most eagerly buys everything and anything that we produce. And we really don't need as many of them as many people might think.
In the internet era of the ‘super fan’ these people are certainly out there, and the Pareto principle still applies. IF we pitch our offers correctly and in a way that resonates with this so called ‘smallest viable audience.’
These dedicated individuals will go out of their way to attend your events, purchase all versions of your books, grab your latest merchandise without hesitation, invest in premium editions of your content, pay top tier prices for coaching or visit your restaurant regularly.
With around a thousand of these super fans, you can certainly secure a steady income, providing you’re content with making a living rather than ordering that private island just yet.
Well, even that is not entirely patently accurate either. In my earlier days and businesses endeavors of course I was having to work for free. We all do in order to create a network, a CV and to cultivate a reputation. On X, as I have only been on here for 30 something days, at the time I am publishing this article, it is exactly the same thing here for me as well. But everybody is selling something, even if initially it is only our insights, opinions, experiences and perspectives.
And it is quite fascinating to me to suddenly become a small fish in a very big pond once again, it reminds me of my earlier days struggling, yet it is also strangely liberating. I am fortunate to have been establishing my businesses offline for many years and have managed to create less need now to be constantly trying to attract the masses. My business comes now from referrals in the main. And chasing shadows - Thats a losers game anyway. High ticket clients are the key.
That being said, it is also important to provide low ticket items whilst we are working to attract our 1000 true fans as well.
And that isn't only about creating ongoing sources of passive or replicable income streams, it is also a way to cater to where different people are in their own financial journey, outlooks and experiences.
But meandering back to the essence of this article, Here's the basic strategy: And its time for a little simple Maths:
And although I spoke earlier about the importance of eventually attracting high ticket clients, Imagine if a new business owner was to focus on aiming initially to attain just £100 Profit per fan or per customer.
Annually: It suddenly doesn’t seem that far out of reach, does it?
Once we focus on creating enough value in our customers or clients lives each year to make an average of £100 profit from each one of them. A thousand of those will generate £100,000.
While this might be easier in some fields than others, it's a worthy challenge in any area. It’s often more effective to offer more to your existing customers than to constantly seek new ones anyway - at least at the very beginning, but both are in reality just as important in entirely different ways.
And what even Seth or the others fail to often talk about is what you then do with that profit. For me, I pumped nearly everything back into my business, investments and personal development, because the compound effect of that carried me through far further than choosing to ever wear my wealth on my wrist ever would,
Direct Fan Relationships: Ensure that your customers pay you directly, and cut out the middle man. We can do this so easily on the internet, and the days of total reliance on brick and mortar distribution is ancient anyway, and going the way of Jurassic Park.
By allowing yourself to retain all the financial support by taking transactions directly you may pay a little in gateway costs but will avoid losing a significant portion of your earnings to intermediaries like publishers, record labels, or retailer as well.
By keeping the full £100 (accounting for deductible expenses), you only need 1,000 true fans to make that £100,000 per year, which is a sustainable income anyway for most people accustomed to a general 9 to 5 'job.'
Of course this article is only beginning to scratch the surface of a far more involved topic and is something that I am planning on revisiting soon.
But I do hope that you have gained some real value in this feature length article and I very much look forward to connecting with you again soon.
Until next time, stay positive, stay focused and stay building those 1000 dedicated real true fans.
Best.
Michael Masters - The Info Architect.
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