1,000 true fans is an essay about a thousand die-hard fans paying a content creator $100/year, which comes out to 100k before taxes and expenses. I'd argue that if you're smart enough to be reading this website, you're smart enough to create and sell a piece of software to 10 businesses. If you can add 2% of revenue/quarter or save 5-10% of an expense, you can name your price (as long as it's below the amount of reve…
1k True Fans (2008)
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Re: 1k True Fans (2008)
#321,000 true fans is an essay about a thousand die-hard fans paying a content creator $100/year, which comes out to 100k before taxes and expenses. I'd argue that if you're smart enough to be reading this website, you're smart enough to create and sell a piece of software to 10 businesses. If you can add 2% of revenue/quarter or save 5-10% of an expense, you can name your price (as long as it's below the amount of reve…
It’s a great model and I applaud it, but I would much rather have 1000 (preferably 5000!) consumers paying me $100/ea/year than have 10 businesses paying me $100k/ea/year.
Re: 1k True Fans (2008)
#33You only need 1 true fan if it's the right fan! There was a (uploaded to TikTok) video I saw where this guy had 18 followers on YouTube, and just was not getting any kind of traction at all. I mean some traction but not much -- only 18 followers! Was about to quit. Then all of a sudden he got contacted by Oprah Winfrey's people about hosting a TV show about the ideas that he talked about in his videos. It turns out t…
Re: 1k True Fans (2008)
#34This idea reminds me of something I've read on some old blog post about enterpreneurship. So, the guys starting the company were excited, because they said "We know the odds are small, but we don't need much, if just 1 in 1000 buys our product we're rich, as that's like 350K people in the US. And how difficult would be to get 1 in 1000 to buy our stuff with a little marketing? It's a great product anyway! Heck, if ju…
Re: 1k True Fans (2008)
#35The 1k true fans approach is the most suitable one for most people looking to build a business or income stream. It lets you hyper focus on a niche that may not be well served by more general purpose solutions. But don’t let the 1k number fool you. Getting even 1 true fan is incredibly difficult. But the idea is that if you can get 1, you can find your 2nd, then 4th, 8th, 16th, 32nd, 64th, 128th, 256th, 512th and fin…
Things don't always scale like that. It's called the logistic curve. At some it becomes harder to keep growing at the same rate as before.
Re: 1k True Fans (2008)
#36The 1k true fans approach is the most suitable one for most people looking to build a business or income stream. It lets you hyper focus on a niche that may not be well served by more general purpose solutions. But don’t let the 1k number fool you. Getting even 1 true fan is incredibly difficult. But the idea is that if you can get 1, you can find your 2nd, then 4th, 8th, 16th, 32nd, 64th, 128th, 256th, 512th and fin…
Yep. To get one real fan, other than your mom and your girlfriend is super hard. I worked as a professional music producer and dj for 10 years in a good niche, paid my bills and raised my kid for that long, and while many other djs and producers played my music productions/compositions and threated me as one of the best in my country, my career never took off. Today I do it as a hobby in my free time and no one reall…
Re: 1k True Fans (2008)
#371,000 true fans is an essay about a thousand die-hard fans paying a content creator $100/year, which comes out to 100k before taxes and expenses. I'd argue that if you're smart enough to be reading this website, you're smart enough to create and sell a piece of software to 10 businesses. If you can add 2% of revenue/quarter or save 5-10% of an expense, you can name your price (as long as it's below the amount of reve…
Brilliant point. May I ask if anyone is aware what type of businesses to target? SMB? I always thought enterprise has super long sale cycles and won't trust a new product easily ( more decision makers) but to get 10 businesses to pay $833 wouldn't that need enterprise customers not SMB?
Happy to brainstorm though. Here's a few questions to get the ball rolling:
What're 2-3 things that people have come to you to learn? What are the 3 problems that are top-of-mind for the person who signs your paychecks? What are the top 3 sources of revenue for your current employer? How much is from expansion revenue (existing customers paying more over time) vs. new logos? Besides the all-in cost of personnel (salary, payroll taxes, health insurance, etc), what are the top expenses of your current employer?
Follow the money! Once you start digging into how a company earns and spends money, you'll find ways to add revenue or reduce spend w/ software.
Re: 1k True Fans (2008)
#38This idea reminds me of something I've read on some old blog post about enterpreneurship. So, the guys starting the company were excited, because they said "We know the odds are small, but we don't need much, if just 1 in 1000 buys our product we're rich, as that's like 350K people in the US. And how difficult would be to get 1 in 1000 to buy our stuff with a little marketing? It's a great product anyway! Heck, if ju…
If you read their definition of a true fan they sound like borderline insane >A true fan is defined as a fan that will buy anything you produce. These diehard fans will drive 200 miles to see you sing; they will buy the hardback and paperback and audible versions of your book; they will purchase your next figurine sight unseen; they will pay for the “best-of” DVD version of your free youtube channel; they will come t…
I prefer content creators with a small viewership. They are often more interesting to watch than some creator with thousands of viewers and if you really want to interact with the content creator, you don't get drowned out by the flood of chat messages that comes with thousands of viewers.
You'd think that a content creator with only a handful of viewers is all on their own but I've seen so many of them with mods that are doing work for them for free and - even more important if we're looking for true fans - there are often viewers that gift random people subscriptions of this creator.
Since I've noticed I always wondered if getting one or true fans is not that hard after all. But scaling up is the actual difficult part.
Re: 1k True Fans (2008)
#39Apparently the master Japanese carvers were loathe to take this gangly gaijin seriously when he began his obsession decades ago.
And yet, Dave set for himself some insane goal of carving 100 wood blocks for prints over the space of a decade.
Now as a dabbling artist myself, I simply can't imagine laying out my artistic landscape for the next couple of years, let alone the next decade. That shows a serious dedication and vision. And so he proceeded.
Well, after the first year and 10 prints or so, he got a handful of customers that began to buy up his prints. And to be sure, by replicating some of the designs of the great masters of history, he was learning a lot about Japanese woodblock carving.
I don't recall if he said how much he money he made the first year, but I believe calling him a starving artist would not have been a stretch. But nonetheless he continued.
The second year and another 10 prints and more patrons. It turns out that people that buy these sort of things, fine art prints, often collect them and will become repeat customers. No doubt there comes to be a stable of customers that are effectively subscribers and will henceforth buy everything he creates.
Going into the third and fourth years he can start to predict a lower threshold for what he will make as an artist in the coming years since he can more or less assume his regular customers will buy everything he prints in those years (and his work is no doubt getting better with each block he carves and learns from).
And of course the collector-type customers keep arriving as he and his work become better known — and so his business snowballs with more subscribers.
By the time Dave finished his decade-long goal he could comfortably call himself a professional wood block carver, no longer a novice but had now taken the vows so to speak.
Dave seems to have figured out the way to make a career out of art. I applaud him for that — brilliant. 10 fans became 100 became 1000 and then more.
Dave Bull says that, begrudgingly perhaps, some of the Japanese carvers began to at least then acknowledge him after his ten year carving odyssey.
He started a YouTube channel since then and it has really caught on — perhaps surprisingly as the field of artisans practicing traditional Japanese wood block carving has apparently been in decline. Dave has said that privately a few carvers have reached out to him to tell him that Dave is doing what they should have been doing all along.
Re: 1k True Fans (2008)
#40Earlier quoted context omitted.
Yep. To get one real fan, other than your mom and your girlfriend is super hard. I worked as a professional music producer and dj for 10 years in a good niche, paid my bills and raised my kid for that long, and while many other djs and producers played my music productions/compositions and threated me as one of the best in my country, my career never took off. Today I do it as a hobby in my free time and no one reall…
Welcome to survivorship bias. For every person who succeeds there are many who fail but you never hear about them.