For the past few months I've been slowly thinking about how I'll transition from being employed to being an entrepreneur and working for myself. Threads like "Things to achieve before 30" also give me a nice kick in the butt.
I was listening to an interview with Kevin Kelly on London Real and he said something that really hit home to me and got me thinking about whatever business I end up venturing in, this will be a very important point to keep in mind:
Just in the realm of podcasts, London Real itself makes money from advertisement but they also have an "Academy" - a paid community where people connect, share information, etc; guys like Joe Rogan and Brendan Schaub/Bryan Callen also advertise but make most of their money out of live shows. Writers like Mike Cernovich and Roosh are starting to organize live events and seminars. Fitness guys like Steve Maxwell sell books and DVDs but have a ton of clients which they consult with via Skype.
This is not a new concept but I have met a number of RVFers and most of them who owned businesses were more commodity rather than experience-based.
Kelly also wrote an interesting piece a couple of years back called 1000 True Fans. The idea is: you don't need to appeal to the masses and have a million followers. If you can get 1000 true fans, that should be enough to grant you a comfortable livelihood.
This could be an interesting topic - are you guys thinking about this at all? How are you adapting your ventures?
I was listening to an interview with Kevin Kelly on London Real and he said something that really hit home to me and got me thinking about whatever business I end up venturing in, this will be a very important point to keep in mind:
Quote:Quote:
"We're moving from things we can copy, commodities, to things we can't copy - experiences. [...] Everything we manufacture is becoming cheaper and cheaper - the only things that aren't are things we experience: tickets to concerts, personal chef, babysitting, nursing care... Al these things that are based in human relationships and experiences."
Just in the realm of podcasts, London Real itself makes money from advertisement but they also have an "Academy" - a paid community where people connect, share information, etc; guys like Joe Rogan and Brendan Schaub/Bryan Callen also advertise but make most of their money out of live shows. Writers like Mike Cernovich and Roosh are starting to organize live events and seminars. Fitness guys like Steve Maxwell sell books and DVDs but have a ton of clients which they consult with via Skype.
This is not a new concept but I have met a number of RVFers and most of them who owned businesses were more commodity rather than experience-based.
Kelly also wrote an interesting piece a couple of years back called 1000 True Fans. The idea is: you don't need to appeal to the masses and have a million followers. If you can get 1000 true fans, that should be enough to grant you a comfortable livelihood.
Quote:Quote:
Assume conservatively that your True Fans will each spend one day’s wages per year in support of what you do. That “one-day-wage” is an average, because of course your truest fans will spend a lot more than that. Let’s peg that per diem each True Fan spends at $100 per year. If you have 1,000 fans that sums up to $100,000 per year, which minus some modest expenses, is a living for most folks.
One thousand is a feasible number. You could count to 1,000. If you added one fan a day, it would take only three years. True Fanship is doable. Pleasing a True Fan is pleasurable, and invigorating. It rewards the artist to remain true, to focus on the unique aspects of their work, the qualities that True Fans appreciate.
This could be an interesting topic - are you guys thinking about this at all? How are you adapting your ventures?
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