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Q&A: “Should I switch my business to a subscription model?”
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What It’s About
If you’ve been selling one-off products, should you change to sell them as part of a subscription?
Notes from Chris
Episode 3045
Subscriptions have become a popular business model for everything from digital products to physical goods, offering consistent income and the potential for long-term customer loyalty. But is it the right move for every business?Today’s question comes from Megan in Denver, who’s considering transitioning her digital template shop to a subscription model. Let’s explore how to evaluate this change, minimize risks, and ensure the shift adds value for both Megan and her customers.
“Hi Chris, this is Megan! I’ve been running a small business selling digital templates for entrepreneurs, and it’s been going pretty well. Lately, I’ve been thinking about switching to a subscription model where customers pay monthly for access to my entire library instead of buying individual items. While the idea of consistent income is really appealing, I’m worried about alienating existing customers who prefer one-off purchases—or worse, losing money if subscriptions don’t take off. How do I know if a subscription model is right for my business, and how can I transition without risking what I’ve already built?”
Listen to today’s episode to learn more…
SEE ALSO:
- Catholic Designer Creates Stylish Apparel Line: What shall it profit a man to gain the whole world but not sell any t-shirts? This designer cast his bread upon the waters and ended up with a profitable fashion line.
- Seattle Couple Creates New “Income LiveStream”: When a married couple runs into logistical problems at their wedding, it leads to an innovative service that other engaged couples need during the pandemic.
- Role-Playing Pastor Rolls The Dice On $2800/Month Hustle: Listener success story! This Presbyterian minister turns to his lifelong interest in role-playing games to set up a sustainable second income source.
Inspiration is good; inspiration combined with action is better. Now get back to work!
Yours in the revolution,
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