You might be surprised to know that a property or finance business doesn’t need to keep attracting lots of new prospects to be very profitable.
Author Kevin Kelly believes it’s not about clients, it’s about true fans. And you might only need 1,000 of them.
A true fan is different to a client because a true fan will happily provide you with repeat and referral business.
This model is most suited to businesses that have regular clients, like financial advisers, accountants and lenders.
If you focus on getting 1,000 true fans, instead of a million potential clients, your marketing will be more focused. Once you have true fans, it should be easier to get repeat business, because your true fans already love what you do.
Of course, you would work out the optimum number of true fans your business needs based on how much profit you make from them. So if you want to earn $1 million per year and you make an average profit of $3,000 per client per year, you might only need 334 true fans. As your business grows, you’d need more true fans to cover your employees’ wages.
That doesn’t mean you’re going to forget about your regular clients or ordinary fans. True fans may introduce you to their friends and family who may become regular clients. True fans sustain your business; regular clients help it grow.
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