Leap Takers

Advice and stories from daring European entrepreneurs & investors to help you take the leap!

1,000 True Fans? Try 100

I just read a16z's Li Jin's article "1,000 True Fans? Try 100" and wanted to share it with the Leap Takers community. You can find the article here: https://a16z.com/2020/02/06/100-true-fans/

To quote Li Jin: "More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur. [...]
As the Passion Economy grows, more people are monetizing what they love. The global adoption of social platforms like Facebook and YouTube, the mainstreaming of the influencer model, and the rise of new creator tools has shifted the threshold for success. I believe that creators need to amass only 100 True Fans—not 1,000—paying them $1,000 a year, not $100. Today, creators can effectively make more money off fewer fans."

In the article Li Jin shows how changing consumer behavior and the rise of creator platforms like Patreon, Teachable, MightyNetworks, and others allow more people to make a living off "100 true fans".

The concept of the Passion Economy is something I'm very interested in. Especially millennials and Gen Z are looking for a non-traditional career, which allows them to pursue their passion (no matter how unique it is), where they have a community / tribe with shared interest, a "job" absent of old-fashioned hierarchical & corporate structures, a life with greater flexibility regarding where and when they "work".

So if you're interested in following your own path, the "1000 True Fans" or "100 True Fans" model could be worth a look! :)