How to Find Your Niche Clients: DAY TEN!
1000 True Fans. Part Two. If you’re down with Kevin Kelly’s idea that we really only need 1000 true fans/followers/clients/students to make a living, you’ll be intrigued about his breakdown on how he makes it work.
The basic foundation, like in any relationship, comes back to loving and authentically respecting your people. Nurturing and appreciating those who fully support you.
To Read about the emotional magic behind Kevin Kelly's Theory, click here:
Here’s how the math works. First, you have to create enough (classes, workshops, webinars, coaching packages) each year that you can earn, on average, $100 profit from each true fan.
Second, you must have a direct relationship with your fans. That is, they must pay you directly. You get to keep all of their support, unlike the small percent of their fees you might get from a studio, or other intermediate — this isn’t to say, that you shouldn’t work at amazing health clinics and yoga studios — just that your calculations will have to be different, if you’re only collecting a portion of your earnings or paying rent for each client.
If you keep the full $100 of each true fan, then you need only 1,000 of them to earn $100,000 per year. That’s a living for most folks, as Kevin Kelly says.
A thousand customers is a whole lot more feasible to aim for than a million fans. Millions of paying fans is not a realistic goal to shoot for, especially when you are starting out. But a thousand fans is doable. If you added one new true fan per day, it’d only take a few years to gain a thousand.
If you are able to only earn $50 per year per true fan, then you need 2,000. (Likewise if you can sell $200 per year, you need only 500 true fans.)
While the support of a thousand true fans may be sufficient for a living, for every single true fan, you might have two or three regular fans. Think of concentric circles with true fans at the center and a wider circle of regular fans around them.
These regular fans may buy your creations occasionally, or may have bought only once. But their ordinary purchases expand your total income. Perhaps they bring in an additional 50%. Still, you want to focus on the super fans because the enthusiasm of true fans can increase the patronage of regular fans. True fans not only are the direct source of your income, but also your chief marketing force for the ordinary fans.
If you’re interested in delving deeper into exploring your niche market, send me a note — and hold tight — I’ve got a whole video course on finding your niche market, coming soon!