Here are two unique but related concepts that I think are worth sharing with you.
“To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only thousands of true fans.
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 to your chef’s table once a month. If you have roughly a thousand of true fans like this (also known as super fans), you can make a living — if you are content to make a living but not a fortune.
Here’s how the math works. You need to meet two criteria. First, you have to create enough each year that you can earn, on average, $100 profit from each true fan. That is easier to do in some arts and businesses than others, but it is a good creative challenge in every area because it is always easier and better to give your existing customers more, than it is to find new fans.
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 music label, publisher, studio, retailer, or other intermediate. 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.
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. You might even be able to remember a thousand names. If you added one new true fan per day, it’d only take a few years to gain a thousand…”
To read the whole article, click here.
The Smallest Viable Audience: Seth Godin
“The media and our culture push us to build something for everyone, to sand off the edges and to invest in infrastructure toward scale.
But it turns out that quality, magic and satisfaction can lie in the other direction. Not because we can’t get bigger, but because we’d rather be better.
One of the three best restaurants in New York only has 14 seats. With the right fan base and technology, that’s enough to allow the chef to build an experience he can be proud of. Down the street is an extraordinary cafe that pays a tiny fraction of the rent that a midtown neighbourhood would require. It’s not about getting found by everyone. A focus on experience creates something that (some) people want to look for…
…The strategy of the smallest viable audience doesn’t let you off the hook–it does the opposite. You don’t get to say, “well, we’ll just wait for the next random person to find us.” Instead, you have to choose your customers–who’s it for and what’s it for. And when you’ve identified them, the opportunity/requirement is to create so much delight and connection that they choose to spread the word to like-minded peers.”
To read the whole article, click here.
Breath by Breath 