Building Financial Success with a Dedicated Audience

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What if reaching your financial goals was as simple as connecting with just 1000 true fans? In this riveting episode of "Power Your Research," we break down the transformative concept of "1000 True Fans" and show you how focusing on a smaller, highly engaged audience can lead to significant financial success. 

Follow Dr. Sheena Howards' socials:
@drsheenahoward | Power Your Research

Episode Transcript

Speaker 1 (00:00):
It's not about how many people are following you.
It's about the quality of thepeople that are following you,
and if you are speaking to thecorrect people, the correct
audience and giving them theinformation that they need,
getting $100 from 1,000 peoplein one year becomes something
that you can visually see asfeasible.

(00:21):
I don't want my work to bestuck behind an academic paywall
.
I want to leave a legacy, Iwant to reach my potential and I

(00:41):
want to change lives.
This podcast, power yourResearch, is my attempt to help
the smartest people in the worlddo that very thing.
My hope is that you use thelessons I share to make more
money than what your higher edjob can ever pay you.
I've done it, my clients havedone it, and so can you.
My hope is that you'll applywhat you learn here and one day

(01:04):
join the Power your Researchprogram, where you can work with
me one-on-one Monetization 101for academics and professors.
And I'm going to share onesmall thing with you that
totally transformed how I wentabout making money from my

(01:29):
products and services.
For me, having a PhD inintercultural and rhetorical
communication and being in theeducational system for so long,
when I embarked on thisentrepreneurship journey, I
realized I knew nothing and Irealized that a lot of what is

(01:54):
taught in academe is thecomplete opposite of what you
need to do, think and know as anentrepreneur.
But a few years ago, mycreative coach introduced me to
this concept of 1000 true fansthis concept of 1000 true fans
and it gave me a visual of howmaking money specifically making
six figures can work in the dayand age that we live in now.

(02:16):
It gave me a framework, it gaveme something to aspire to, it
gave me a goal and a solidunderstanding around how I can
make my first six figures.
And a year after learning thisconcept and going on this
entrepreneurship journey, I mademy first six figures and the
rest is history.
So that concept is 1000 truefan and it's kind of the the

(02:41):
opposite way we think of.
We naturally think about socialmedia.
We think we need thousands andmillions of followers right, we
want more followers.
We think the more people thatsee our content, the more money
we will make.
But this helps us get a littlemore granular around thinking
about making your first sixfigures.
The average entrepreneur is noteven making six figures, and

(03:05):
what the 1000 true fans conceptis is understanding that you
only need 1000 people to spend$100 on you each in one year,
and that is six figures, just1000 people, right?
This is why last year, I couldhave, you know, under 2000
Instagram followers and makemultiple six figures, because

(03:28):
it's not about how many peopleare following you, it's about
the quality of the people thatare following you, and if you
are speaking to the correctpeople, the correct audience,
and giving them the informationthat they need, getting $100
from 1,000 people in one yearbecomes something that you can
visually see as feasible.

(03:49):
Hey, everyone, real quick.
I don't run any ads on thispodcast, so I have to rely on
word of mouth.
If this podcast has helped youin any way, please share it with
a friend and follow me, drSheena Howard on LinkedIn, where
I give more free content onbuilding your brand as an
academic.
If you tell me you came to myLinkedIn from the podcast, I'll

(04:12):
make sure I accept your requestand you can play with the
numbers.
It could be 500 people thatspend $200 on you, right?
You can start out saying I justwant to reach, get 200 people
to spend $250 on me and playwith the numbers, but when you
overlay the a thousand true fansconcept with the diffusion of

(04:33):
innovation theory.
And if you have a PhD, nomatter what your PhD is in, I
feel like you've heard thediffusion of innovation theory
at some point.
I remember hearing it multipletimes.
But not to go over the entirediffusion of innovation theory,
I've done that in multiplevideos but basically the
diffusion of innovation theorysays you know a small part of it

(04:55):
, says you have innovators,early adopters.
It says you have innovators,early adopters right, those are
the first people that want totry your product.
So you can think about thoseearly adopters as the current
fans you have right now.
Whether you have 100 peoplefollowing you or 1,000, those
people already like you.
And if you can serve them andlove on them and give them what

(05:15):
they want and ask them howthey're doing, ask them what
they're working on, ask them howyou can help them, build a
relationship with them, you'llbe at those a thousand true fans
quicker.
And so the question and thelast thing that I want to
address that you might be askingwell, what is a true fan?
A true fan, also known as asuper fan, is someone that buys

(05:39):
from you and talks about you.
So they buy from you and theytalk about you.
So this might be as simple assomeone jumping into your
program and then leaving a nicereview, or buying your book and
leaving a nice review.
So they bought something fromyou and they talk about you in
public and if you can get athousand of those and serve

(06:01):
those, they spend a hundreddollars on you each.
In one year you're at your sixfigure mark.
So your homework is to go to aplace where the people that want
your thing are.
Maybe it's a conference, maybeit's a speaking engagement,
maybe it's a meeting.
Go there and love on them,serve them, ask them how you can

(06:22):
help, tell them about theservice that you are offering.
Or dig into the people that arecurrently following you and
give them value Because, as Isay, if you follow me, you've
heard me say if you can't serveone person, you do not deserve a
thousand people.
All right.
So I hope this concept helpsAlways reach out.

(06:43):
Let me know if you have anyquestions.
You can always jump on a 30minute call with me to discuss
your goals about increasing yourvisibility, authority and
income.
Thank you.