You're lying that you've got 0 fans, Fabricio, cause I'm your fan. Instead of going the comfy corporate job route you build startups to make this world cooler and have enough courage to go all-in into your ideas. Hyped for your ventures!
It all depends on what you want if it's to live life by giving customers what they want just to get returns or genuinely continuously looking for ways to fix problems for people who have those problems.
"In 2019, nearly 500 Teachable course creators made more than $100,000; of those, 25 averaged more than $1,000 per sale. "
Isn't this really low? A huge amount of people use Teachable as a platform to teach. Compare this to SaaS where I think much more people have made $100k over the course of their product.
The premise of this only works if each of your 100 true fans spends $1000 on your products and/or services, which seems steep if you're talking about B2C.
Yep totally agree, and we all know that IRL we need more than just 100 fan, we need CUSTOMERS and in the funnel of conversion we loose people at each step so we need A LOT of people at the starting point.
Agreed. But I think the article implies an average spending of around $1000 per user, suggesting creators should consider different types of users. But I agree with you, if we're talking about a product best suited for B2C, getting any users to spend over that amount per year is going to be a challenge. I think for this to work you would have to target B2B users too and adapt your product/service accordingly, which is likely to be a big leap.
The reason why it works is because of the shift from a "the traditional donation model—in which users pay to benefit the creator—to a value model, in which users are willing to pay more for something that benefits themselves."
That's why the examples she uses worked so well. Online courses are a form of self-improvement - they directly add value to the user, so these purchases are seen as investments in themselves. I think that's the key for this to work.
it's still work in progress and I probably plan to have premium versions with added features. but the basic version where you fill everything in yourself is going to be free.
I need 0 fans. (zero)
I only need 42 customers.
I'll reach 100 K ARR with 42 customers.
I won't have any fan. I don't need/want them.
You're lying that you've got 0 fans, Fabricio, cause I'm your fan. Instead of going the comfy corporate job route you build startups to make this world cooler and have enough courage to go all-in into your ideas. Hyped for your ventures!
Support is for charities, customers are for businesses.
Be more like Fabri.
It all depends on what you want if it's to live life by giving customers what they want just to get returns or genuinely continuously looking for ways to fix problems for people who have those problems.
Yep, this is the same thing Russel Brunson says. Get the ideal 100, and then you'll get the 1000. Great advice!
Jason Cohen was saying this back in 2013.
https://youtu.be/otbnC2zE2rw
"In 2019, nearly 500 Teachable course creators made more than $100,000; of those, 25 averaged more than $1,000 per sale. "
Isn't this really low? A huge amount of people use Teachable as a platform to teach. Compare this to SaaS where I think much more people have made $100k over the course of their product.
The premise of this only works if each of your 100 true fans spends $1000 on your products and/or services, which seems steep if you're talking about B2C.
Yep totally agree, and we all know that IRL we need more than just 100 fan, we need CUSTOMERS and in the funnel of conversion we loose people at each step so we need A LOT of people at the starting point.
Agreed. But I think the article implies an average spending of around $1000 per user, suggesting creators should consider different types of users. But I agree with you, if we're talking about a product best suited for B2C, getting any users to spend over that amount per year is going to be a challenge. I think for this to work you would have to target B2B users too and adapt your product/service accordingly, which is likely to be a big leap.
The reason why it works is because of the shift from a "the traditional donation model—in which users pay to benefit the creator—to a value model, in which users are willing to pay more for something that benefits themselves."
That's why the examples she uses worked so well. Online courses are a form of self-improvement - they directly add value to the user, so these purchases are seen as investments in themselves. I think that's the key for this to work.
Totally agree, 100 true fans can do what 1000 can not.
Pretty sure I have less than 10. But, we all have to start somewhere.
True story. Just start small, have HQ followers..
1000 true fans is better that 100)
Just like my mother always says: 1 dollar bill is better than 100 pennies. Quality over quantity
Quality over quantity - it's the golden rule that works everywhere.
very true
onlyfans?
jokes aside, I wrote this free financial tool to help you quickly estimate how many subscription/how much to charge to reach your financial goal:
https://increnovation.azurewebsites.net/fermi/highlevel
it's still work in progress and I probably plan to have premium versions with added features. but the basic version where you fill everything in yourself is going to be free.
Exactly. Also highly recommended from the same pub: https://future.com/passion-economy/
An iconic essay by Li Jin
This comment was deleted a year ago.
Primer annoyed? Shocking.
This comment was deleted 2 years ago.