The Subscription Business Model
The Subscription Business Model is the Holy Grail of business models.
The Subscription Business Model is profoundly lucrative for those who know how to build it right.
It takes creating, nurturing, and maintaining relationships with your lovely customers long after the first time they buy from you.
Send postcards in the mail.
Surprise them with gift boxes.
Give them exclusive access to your genius.
A mutually delightful relationship unlocks a steady biz & revenue flow because you give consistent value to your customers. These people choose to be in your world because they enjoy and benefit from your paid subscription offer(s).
Look around and you’ll see that whatever you need can come through a subscription − from movies (Netflix), radio channels (Pandora), free delivery (Amazon Prime), and business communities (Online Geniuses), to online courses (Skillshare), vintage graphics (Graphics Fairy), socks (Sock Fancy), and personal grooming products (Dollar Shave Club).
This means there’s space for your gorgeous, useful ideas too.
If there’s a need for it, people will buy from you to fill it.
No, you haven’t lost too much time.
You’re not too late to the party.
Originals are never late.
Yes, now’s the perfect time to begin.
Grab some sparklers and let your beautiful ideas fly. Your people are waiting!
The subscription-based biz model is a huge cookie we can’t eat in one bite, so once a week, we’ll nibble a bit more and learn something new.
The following list represents a few subscription-based business models. Some might be good fits for your biz, and others might not be.
Each model has different pros and cons, so you’ll need to consider your specific purpose, personality, values, strengths, work style, and resources as a solo biz owner.
Once you’ve got that down (you’ve done the work, right?), you’ll choose the best parts of the cookie and leave the rest.
Let’s begin.
My desire?
To help you expand the boundaries of your thinking and spark some fresh ideas on new revenue streams for your biz through recurring subscriptions.
In other words, whip up something your loyal customers will rave about and pay you for.
Make it luscious.
Whet their appetite and keep them coming back for more through their subscription.
Yes, you can.
How do you start?
First, set aside time each month to explore a new subscription model and click the links.
Next, think about at least one membership, product, or service you can offer through a paid recurring subscription.
Make tiny tweaks and test what works as you explore each model.
Amp up the scale when you hit on the perfect fit for you and your biz.
Take it a step further.
Join the Women’s Circle of Joy. Build relationships with entrepreneurial women willing to answer your questions, brainstorm with you, and give feedback on how to build and grow a business and life you love.
