Do you think that you need to have millions of fans or followers to create a seven-figure business?
I know I did when I first got started in my entrepreneurial journey. In fact, I still talk to coaches, consultants and solopreneurs who think the exact same thing.
They seem to have a limiting belief that without a massive audience they can’t begin to sell digital courses, masterminds or consulting.
While it’s easy to think that, I’m here to break that myth once and for all.
Yes, you heard me right. You don’t need tens of thousands of fans to create an epic business that changes lives and generates income.
Even though I have a huge email list at Easy Webinar, some days people don’t always show up for their webinars. Sometimes I’ll have 150 people register and only get 20 or 30 people to actually show up.
It’s easy to feel disappointed when this happens but I’ve learned that I can still help people and grow my business with a small turnout. The key is all about providing massive value for every single person that engages with your business.
Even though I only have a small percentage of people show up sometimes, I still give tremendous value in that hour. I talk about monetizing a small audience more in this video:
Here’s how you can monetize a small list and create a business that makes money every single week.
Breaking the Audience Myth
If you’re just starting out, it’s so easy to fall into this trap. It’s easy to compare yourself to people who are already where you want to be and discount your followers. I can’t tell you how many entrepreneurs and influencers don’t even market because they think their list is too small.
But as you saw in my video, just because less than a third of participants showed up, doesn’t mean it wasn’t worth my time. I regularly still convert 10% of viewers into clients, if not more.
In the example in the video, I was able to generate $3,000 of revenue in 60 minutes. If you did this every week you’d make an extra $12,000 a month, only converting a small list!
What would your business look like if you earned an extra $12,000 each month from four hours of webinars?
Sure, creating the product to sell takes times but after that, it’s just repeating the process. You need to keep getting in front of people, providing a ton of value, gain trust, and pitch your product. If you talk yourself out of ever doing a webinar because your list is too small you’re missing out!
Hopefully, this quick story shatters the myth that you need a large audience to sell your products or service. This is one of the many limiting beliefs that are holding back so many entrepreneurs. Here’s how you can still make an impact, regardless of audience size.
Shed Your Limiting Beliefs
It’s time to shed his limiting belief and others because it’s probably costing you a lot of money! It’s essential to show up, engage with your audience, and start creating solutions to their problems.
What’s the worst that happens? You don’t end up selling any products in a webinar?
If that happens then you gain experience. Entrepreneurship is all about refining the process and learning from your mistakes. As serial entrepreneur Richard Branson said, “Do not be embarrassed from your failures, learn from them and start again.”
When I started doing webinars I was a total rookie. I overshared, talked too much and made tons of mistakes like all beginners do. But I kept going. I pushed past the fear and knew that if I kept delivering a ton of value my audience would resonate with it.
How to Earn Money With a Small Email List
Now that you’ve gotten over your doubts, fears, and insecurities, I want to help you start earning money with your list. Regardless of how big or small your list is, you can make money from it!
I have one Easy Webinar client who only had 200 people on his list. Yet he closed over $8,000 from his first webinar!
Think you can do this yet?
He was able to get these amazing results for three main reasons:
- He delivered a ton of free and valuable content to his list on a regular basis. You need to have consistent and free content as often as possible. Whether it’s blog posts, videos or podcast. Content is still king in the information era.
- With his consistent content, he got his audience to know, like, and trust him before he ever pitched them anything.
- He created raving fans by the time he did his webinar so they were dying to buy his product.
One of the biggest mistakes I see other entrepreneurs make is that they are scared to give away too much content. But the only way your audience will buy from you is if they trust you. And trust comes from delivering more than anyone else.
Build Your First 1,000 True Fans
Have you heard the 1,000 true fans theory from Kevin Kelly? If not, here’s a quick snippet from his popular idea that was made even more famous after appearing in Tim Ferriss’ book, Tools of Titans,
“To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only thousands of true fans.”
And I 100% agree, I’d rather have 1,000 raving fans than 10,000 people on a list who aren’t engaged. Once you break the myth of quantity, you can start focusing on the quality of people your business is attracting to it.
It’s easy to get caught in the numbers of email subscribers, followers, fans, and other metrics because of social media. But these vanity metrics shouldn’t mean too much for your business.
Never forget the main point of entrepreneurship – to create change in people’s lives. The more value you provide, the more you get rewarded for with money. I’d rather have a 7-figure-business than a six-figure list or huge group of followers that doesn’t make any sales.
Real People with Real Problems
When you’re working on your business it’s easy to feel like each person is just another lead or email that comes into your funnel. But you have to remember that these are real people. And they have real problems!
They opted into your lead magnet to find a solution to their problem. You are the solution!
Focus on giving these people so much value that they’ll convert into true fans. Because true fans will continue to buy your products and rave about you to others.
When you’re in the weeds, working 60 hour weeks, trying to survive, it’s easy to feel like your small list of people isn’t much. While it’s okay to have big dreams of hundreds of thousands of email list, don’t forget that each email is a real person with real problems.
It’s your job to follow up with them, connect with them and help them find a solution. Remember, the quality of your list is more important than the quantity. You still can still grow your business and provide helpful solutions to your biggest fans.
Also, if you’re having trouble getting even 30 people for your webinar make sure to read my 5 biggest tips for gathering webinar attendees here.