Technium ran an article a few years back called 1000 True Fans and it was a big hit with internet based entrepreneurs. The reason was simple, it took what seems like a huge task, (earn a living doing what you love) and broke it down into an easy to understand and very doable concept. Simply put if you get 1,000 people that will spend one years salary on you per year, you have a reasonable income and one most people can easily live on.
The author has down two follow up pieces and even is willing to perform a critical analysis of his own work, (something very few people are willing to do. The follow up pieces are…
These follow up pieces and other objections I have read to the model got me thinking. The reality is 1,000 True Fans does work, I have done it. There are some key holes in the idea though and today I discuss how to fill them.
On another note I went out and go a Plantronics Head Set and a Sony Recorder yesterday. Today’s show uses the new gear and should provide you a much better audio experience. So much for iPhone Podcasting!
Some of the key holes in the 1,000 True Fans Model include…
- 1,000 should be a base not a finish goal
- You have to produce enough new merchandise per year or back fill new fans
- Some fans will “fall out”, you have to out build your attrition
- Your 1,000 fan based income should be one component of your income not your sole income stream
- Your fans must never be taken for granted
- There must be a greater focus on your “lesser fans”
- True fans must be conditioned to be your “champions” and become self replicating