“Form of Value #4: Subscription”

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What is a “Subscription”? (Form of Value #4 of 12)

“Please accept my resignation. I don’t want to belong to any club that will accept me as a member.” — Groucho Marx, comedian

Key Points:

• Subscription programs provide tangible or intangible benefits on an ongoing basis in exchange for a recurring fee.
• To create a successful subscription you must:
  
  
  
  • Provide value consistently to each subscriber.
  • Build a subscriber base and constantly attract more subscribers to compensate for attrition.
  • Bill customers on a regular basis.
  • Retain subscribers as long as possible.
• The attractiveness of subscription models is its predictability. This form of value ensures a certain revenue in every billing period.
• The key is to keep customer attrition as low as possible by keeping your subscribers happy and constantly attracting new customers.

Questions for Consideration:

• Does delivering value as a subscription / continuity program make sense for your business idea?
• If so, what do you need to plan for to make it successful?

Share this concept: http://book.personalmba.com/subscription/

True leaders aren’t made by business schools – they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and you will learn in one week the principles it takes most business professionals a lifetime to master. Buy The Personal MBA by Josh Kaufman now.