When I was studying online marketing, I came across the idea of 1000 True Fans. This was an ‘aha’ moment where everything clicked. The “1000 true fans” principle is that your biggest fans (or happiest customers) are those in which not only buy form you but also tell all of their friends about you.
Over the years, I have steadily accumulated these types of clients. in fact, I have some true fans in which I’ve been preparing their income taxes for over 25 years! And many of them are still referring me new customers!
Now, you may be thinking 1000 fans is too many and is a huge number. Bear with me here. 1000 is just a guideline for internet marketers. However, tax professionals can succeed with far fewer true fans. Depending on your client base, you may only need a fraction of this. But, the point is, you should be striving to establish a fan base. Charlie Munger was quoted saying that if you do great work, you will simply get more work.
That being said, I’m generally not conformable when a single client exceeds over 15% of my income. This is because I prefer to have many sources of income. Therefore, I don’t sweat it when I lose a single customer. Therefore, I want some diversification in my fan base and attract an array of fans.
I have found that my personality and way of connecting with certain customers makes them happy. I am unique and may not appeal to everybody. But that’s perfectly OK. Tax preparers vary about as much as different makes and models of cars. And buyers all have different tastes. I used spend time thinking about how I should change to appeal to everybody. Alas, this is not only impossible, but this only dumps energy down the drain.