There Are Numbers Less Than 1%
from the reasons-to-buy... dept
I'm reminded of this, with a submission from JohnForDummies about a Derek Sivers blog post, discussing a musician friend who took out an ad in a magazine with 1 million subscribers, repeatedly saying:
"If only one percent of the people reading this magazine buy my CD... that'll be 10,000 copies! And that's only one percent!"But, as the musician learned there are numbers much smaller than 1%, as he ended up selling just 4 copies of the CD.
This is, in some ways, similar to the give it away and pray business models that we sometimes see people trying. Giving stuff away for free is a good part of a business model, but it's not an entire business model by a longshot. Anyone looking to use free as a part of a business model also needs to go further and do the hard part, the bottom up part, where they figure out how they're going to get anyone (not a percentage, but specific people) to actually find something worth paying for on its own. Because $0 from a million people is still $0. But, reaching 1,000 people with something of value that they want and can't get any other way... that's the start of a business model.